andrew.ryabchenko

andrew.ryabchenko

Area between 'A' and 'B' can be considered a strong resistance due to following reasons - There are lots of coins previously exchanged hands in the range between 'A' and 'B' (see circled areas) and same investors are potentially closing their loosing longs to break even - We have seen strong price rejection from 'B' If price is able to consolidate above 'B' or...

andrew.ryabchenko

Line 'A' denotes a zone where continuous price squeeze happened previously (see orange ellipses). Usually when a large volume is concentrated in narrow price range (squeeze) such areas tend to later play as support or resistance. If price is able to consolidate above line 'A' and given that the pair is in general uptrend, the more likely scenario for the price is...

andrew.ryabchenko

After rapid growth price consolidates and seems to be forming bullish pennant pattern. It is know as trend continuation pattern. We expect price to break above resistance in a few days and move up approximately same distance as it did prior to consolidation. Currently we are waiting on price action. If it breaks through resistance we expect another rapid growth...

andrew.ryabchenko

Current price is forming uptrend. After first high, price saw correction of 0.618, which is important Fibonacci level. Currently price is in phase of correction after its second peak it is reasonable to expect correction to stop at same 0.618 level as before. The fact that next support is also located at 0.618 Fibonacci gives this scenario more likelihood....

andrew.ryabchenko

Price is currently near strong resistance (1.14122) level that has been tested twice and followed by strong price fall. Now, after break through the trend-line it is reasonable to expect correction to latest resistance (1.13333) level that is now expected to become support. Thank you for your interest. Follow me for future ideas.