Potential Long, followed by Short at 99MA Resistance. Pattern spotted on the 1D and confluence on the 4H and 1H. Using Support and Resistance Levels as well as the moving Support and Resistance Levels of the Moving Averages. Basic Rounded and Micro-Retests taken into account when anticipating the bounces at both the Long Level and the Short Level.
As well as hundreds of indicators based on historical data leaning highly bearish, strong possibility of a head and shoulders pattern forming on both the 1D and 4H charts. Printing more money can only work for so long, before a correction is inevitable. Bubble could be about to burst.
Clear channel developing, with very little historical resistance on either side. Once channel is broken on the Daily close, expect a significant move one way or the other. Would lean towards shorting, RSI seems to indicate potential reversal. Awaiting confirmation.
Clear Resistance and Support Levels are shown on the 1D, 1W and 1M timeframe. With TEL Coin in its infancy, it should correlate well to theoretical patterns. Enter Long and Shorts upon Daily close above or below resistance level.
The analysis takes into account historical support and resistance levels, Fib retracement at various levels, RSI levels and also volume. The accumulation zone is highlighted and also the target zones should the accumulation zones (amber and yellow) be broken. As soon as these are taken it appears to offer a good indication of when to open a Short or Long. Basic TA...
Charts based almost entirely on slightly RSI downtrend on the low time frame, loosely correlated with FIB Retracement Levels from an earlier High/Low. First ever chart, definitely a very big WIP. Good to post to keep a record to look back on. Have opened a very small short with tight SL
