QSP looks like it is moving inside a falling wedge.
0.5 fibbonaci level is reacting is a support.
If QSP breaks out of the falling wedge our target is 2925 satothi's.
We will put our stop loss at 2145 satoshi's.
Risking 5% for a reward of 30%
Very nice risk to reward setup.
Good luck!
NL CRYPTO
I think ETHUSDT is looking very good.
Based on the charts it looks like ETH has made a full ABC correction and we assume that it is completing it's first higher low sinds the correction of january.
If this support holds on the 0.618 fibbonaci level, wich is the golden pocket, this is a POSSIBLE outcome for ETH on the long term based on the Elliot wave theory and...
BTC has not yet made a higher low and higher high so we are still in a downtrend and there's still a chance we will retest the support zone of 7100-7200 again.
But BTC has broken the trendline.
RSI and Histogram showing signs of bullish divergence.
MACD also crossing so I'm entering a small position.
If the 0.5 fib level doesn't hold and we don't create a double bottom around 7950 the 7900-7200 region (green box) is good area to ladder in your buys. At the 7200 zone we also find confluence with the low points of the trend line wich should be a strong support.
WAN is now retracing in a bear pattern and coming close to the 0.618 fibbonaci level wich is a very good buy area.
Looking for a buy opportunity in the green box.
Putting a stop loss around 6400 satoshi's.
Good luck!
Happy Trading,
NL Crypto
After a nice rally upwards we broke the resistance level of 8400 but failed to break 8600 and now we're going making a correction.
First support level is the previous resistance level around 8400 wich probably won't hold.
Looking at the fibbonaci retracement levels a retracement to the .5 fibbonaci level at 8280 is possible and an important level to hold or we...
Bullish divergence shown on the RSI indicating a trend reversal is highly possible.
Furthermore we see that we are almost at the .786 fibbonaci rectracement level wich is a support level and must hold or it is going further down.
We can put a stop loss slightly below this level around 2900 satoshi's.
This is a very nice risk to reward setup.
Goodluck!
Happy...
