You can also draw a harmonic pattern in this chart imo but there is already enough visualisation in the chart. Adam N Eve double bottom. Bollinger Bands squeezed.
We tested the resistance and came down a little. Still indecisiveness is strong and people are probably waiting for the second test and the confirmation of the rejection. Since I am bearish I am expecting a drop to 8200-8300 range after the second rejection.
We've finally reached the log resistance. This one is the strongest resistance so far and I believe the indecisiveness in the last days happened mostly because people expected it to reach here and short at the resistance. So I think this will probably end up like the 12K resistance. I might be wrong but shorting here is a good decision so I shorted. RSI is also...
Since this is an altcoin it's totally bound to BTC. Because of that I don't suggest to gamble and buy it now. But after BTC made it's move I believe this will breakout. RSI and Volume aren't giving good signals but as I said earlier this an altcoin so it will pump when the time come. It is worth following.
We have touched my bids at 7860 but the problem is even if we dipped so hard there isn't much of a buying pressure right now. If we cant break 7900 we'll probably stop at 7760.
I connected some tops and dips and a beautiful channel showed up. I still have my bid at 7860. And if you are curious about it this channel is bearish.
Even if we can't see clear patterns in the longer timeframes there is a falling wedge in the 15M chart. Also RSI is giving some signals. I placed some orders at 7890. If RSI doesn't hold I close the position.
We've seen a huge 15% jump from 6800 and since then we haven't seen a big correction. Market is incredibly overbought right now. While price is making higher highs RSI is making lower highs. That's a clear bearish divergence and if we consider that this is taking place on the 4H chart we can expect a 4%-5% drop to the 7900-8000 range at first. It's possible that...
