Here is another example of the macd divergence strategy outlined in previous post playing out. MACD trends down while price moves upward. Price quickly corrects back down. I will be paying attention to this from now on.
Wanted to show people a trading strategy I saw on YouTube that actually has played out. In these boxes, you can see price continue to the increase while MACD trends downward. After this occurs price drops. In both of these cases where the macd diverged in trend from price, price quickly reversed and resumed following the macd. Good place to enter these trades...
Ethereum is testing the top of this downward trend line that has served as resistance since September. Weakness in the dollar could send be the catalyst to send Ethereum moving upwards again. Further resistance levels at previous highs around 3000, 3200, 3400. Break to the downside could find support around 2300-2400.
Volume by price indicator has been beneficial in showing areas that bitcoin runs seem to burnout. Every time bitcoin pushes past the high volume areas of 43,000, price is not able to hold in the lower volume price area around 45,000. A lot more historical volume between 36-39000 where support has been found lately. Not sure what way this will break, thought this...
I’m still calling for downside move on the btc price. Today was a nice bounce because of an increase in the SPY. Given that I think the SPY is in a bear market, I don’t see a strong future for btc in the short term. Today we hit the top of our outlined resistance zone around 41k. Wether this area holds or we go lower I think depends the most of the price action of...
After Vechain has broken below its long term trend line, I am not bearish on this pair in the short term. VET is currently trading a support level established back in February of 2021, a year ago. If VET breaks below support at .053, price can drop until .03 before a short rebounding. I don’t see this pair recovering until BTC performs better.
Bitcoin currently testing the descending channel. Looks to have been supported by a bounce in the S&P. Horizontal boxes and lines are support and resistance areas. I don’t expect the S&P to remain strong, and similarly believe BTC’s price action will follow given the correlation between their prices. Expecting a test of recent support around 35k this in a week.
Initial support around 40k has been broken. Price currently finding support around 35-36k. Expecting a bounce in the near term, given how rsi is now indicating btc is extremely oversold. If 35-36k support breaks expecting price to fall to 29-30k.
Seems like strong support around 1.1 area. As seen in June, July and September these areas were once resistance before it then flipped to support later in September. Expecting a bounce at this level up to 1.5-1.6.
Long term uptrend shown in ascending channel, with shorterm downtrend in the descending channel. Strong resistance in 1.6-1.5 range
Not sure what to think of this. First time charting apple, creating this channel for the sake of practice
Downtrend line, support levels around 39k-41k. Resistance at 53k and 45K