Buy zone is between the purple lines: range of 4.75-4.65.
1. Strong support at 4.75 on the 1Hr, with the 99 Day EMA & ICH cloud converging.
2. Bullish divergence showing on the 4Hr
3. Relatively neutral RSI
Do your own research and don't trade based on my information alone. Feel free to leave a comment below!
$Algo:
1. Price resting comfortably above the 55 Day EMA on 4Hr
2. Sitting within an accumulation phase after nice run during previous 3 days.
3. Moderately elevated RSI
I could see it touching it's 99 day EMA & top of ICH cloud (1 HR chart), before a nice bounce next week - Have a buy order set in the $.425 price range.
As always, do your own research and...
On the heels of Decentraland; $MANA has a chance to either make a rebound or fall flat.
Using the 4H Chart due to volume, hard not to believe it will be a solid short term play (with obvious risk). Approaching a major support level that has held it's ground previously. RSI is below 38, which last time $mana saw this happen it went on a 48 hour, 33%+ growth...
A lot going on but most indicators show a favorable long term hold of Bitcoin:
1. Bullish Divergence on the daily
2. Daily RSI levels at lowest level since first week of January.
3. Trading above ICH cloud over past 6 weeks
4. 55 EMA support holding firm on daily
5. 222 EMA support holding firm on the 4H
I wouldn't count out a re-test of lower support around 9k...
