bluemagneticstorm

bluemagneticstorm

Long position open. Possibly ok long position. Stop loss is tight at support levels. Hypothesis: Target price will be reached by 1st week of August or sooner. Previous green candles at target price were quick. Fundamental argument: Interest Rates announcement, TVL of Cardano is up, and Mithril announcement. Lots of positive arguments.

bluemagneticstorm Updated 

Difficult to do TA on OHM/DAI because the volume of OHM/DAI is a mere fraction of the total marketcap of OHMs value. Later today at 11:59 am EST. Olympusdao.finance will start accepting ETH bonds. This should be an interesting event which may bring volume and value to OHM. It would be included in the intrinsic value (IV) of OHM. Currently Rebase figures for OHM...

bluemagneticstorm Updated 

Pretty straight forward retracement. Potential inverse H&S. Longing this bad boy.

bluemagneticstorm Updated 

Entered long and will move stop loss accordingly. Was it just a shake out? ADA/USD pairing seems to hinge very heavily on BTC and ETH/USD price. Ultimately, how the top 2 marketcap coins perform dictate the direction. See Divergence Indicator at the bottom of the chart. The 1 Hour, 4 Hour and 1 Day divergence print outs have been telling of which way we go....

bluemagneticstorm Updated 

With most alts bleeding its hard to say whether the correction is over. I'd wait for a full confirmation of pattern - break of support or resistance before entering this one. RSI was steaming hot during the run and we were definitely overbought. Bear divergence was observed at the peak and retracement may be complete. Next couple of hours of candles should show a...

bluemagneticstorm Updated 

I'm new to TA but this does look like a cup and handle yeah? Breaking resistance would be confirmation. Good day to you all.