Possible relief bounce building up on BTC. Bollinger bands are in a tight consolidation and the fractal energy is building. Don't expect too much though, probable move into 50ema/ma area at 16,800 resistance level. Indicators provide a similar scenario for a move to the upside.
Just received a sell signal and confirmation on the daily and if $44,950 monthly support can't hold, the next daily support level is sitting at $43,000. The next probable weekly support level is at $40,871 with confluence of the 0.382 fib ($40,937).
Indicator turned green on the 26th of July after finding support around the 0.786 fib level ($116). First major resistance for taking profit is the monthly resistance level at $158 close to the 0.618 fib ($171). Second major resistance for taking profit is the weekly resistance level at $202 close to the 0.5 fib ($209). Third major resistance for taking profit is...
$COPE managed to break out of the range. Indicator signalled green on August 9th, followed by a strong impulse through the weekly resistance at $2.22 straight into a rejection by the monthly resistance level at $2.589, flipping the weekly resistance at $2.22 into support.
Indicator turned green on the weekly timeframe 19 July 2021. This was followed by a 59% increase and the monthly resistance at $44,950 has now been breached. The previous time the indicator turned green on the weekly timeframe, was in October 2020, and it resulted in a 447% increase before topping out.
$SXP managed to breakout of the downward channel with the next major monthly resistance sitting at $2.84.
Initial entries at monthly support levels $0.3282 and as per indicator at $0.3696. Profits booked at monthly resistance levels at $0.4781 and $0.5695, which was flipped over the previous couple of days. Looks like it is setting up for another move up from that level.
$COPE still ranging between $1.544 and $1.92 after making a nice run pushing up to weekly resistance level at $2.2 followed by a pull back to 0.382 fib ($1.598). Awaiting clear direction before entering another trade, however the $1.5 level is nog bad for a longer term swings.
$SOL looks like its following $FTT and also made an initial entry at $22. Took a portion off the table at the monthly resistance level at $32.79, which has now been flipped with $SOL on route to the next major monthly resistance level.
Initial entry made at $22 support level, with another two entries made as per indicator buy / entry signals. Still showing a lot of strength as it is pushing through the monthly resistance level at $39.98.
Indicator gave an excellent buy / entry signal on 26 July on the weekly, after which $UTK went on full send mode! Facing weekly resistance now at $0.3157 with the next weekly resistance in sight sitting at $0.3157.
$DOT is consolidating underneath resistance at 0.618 fib ($19.31), however there is a bearish divergence which formed, so rather waiting for $DOT to reclaim and retest $19.31 level before entering a new position. Indicator buy signal / entry level was at 0.786 fib ($11.06) and decided to exit the trade at 0.618 fib ($19.31).
$LUNA has been breaking through previous weekly resistance levels as if they where not there. Next weekly resistance level and 0.382 fib level confluence at $15.74, which would be a good spot to book more profits as with the other weekly resistance levels.
The ascending triangle played out perfectly on the 4H. Indicator buy signal followed by a major move all the way up to 4.236 magic fib ($12.66) passing the 3.618 ($11.63) which was drawn a couple of days ago based on the first impulse. Fibs rarely lie!
Nice retest on the monthly support level after flipping it at $32.79. Next major monthly resistance level sitting at $42.87.
FTT with a strong rejection at $39 monthly resistance level. Retest of previous monthly level most likely probable support.
Cope looks like it found support on the weekly support level at $1.5 which also has confluence with 0.382 fib level.
Do you think $38,759 will hold? 0.382 fib sitting around $37,267...