I really like this action guys.
We are still in the big consolidation range between 3000 and 5000 but we've overcome some significant levels in the last couple of days, passing through 4000 and now 4500. I don't see any resistance until we reach those all time highs at 5000.
We could very easily hit 5000 this week.
5000, THEN WHAT??
That's the 5 million dollar question. We could crash back down again, which would be a sign of weakness. We could breakthrough, which would be great, but the move is a bit extended, having come all the way from 3000, so it could easily breakdown.
What we REALLY WANT TO SEE is a healthy consolidation or a small pullback from 5000, build of strength leading to a huge explosion through 5000.
All the coins look really healthy right now. Barring some fundamental shock news, this looks really good.
The 200 day moving average is in an uptrend.
Positive volume is greater than negative volume.
The pattern is mimicking the consolidation and breakout from July (see my previous posts).
!! PM me with any trading questions !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections, measured moves, support and resistance.
Successful trading means proper risk sizing and trading small so you can stay in the game.
We are still in the big consolidation range between 3000 and 5000 but we've overcome some significant levels in the last couple of days, passing through 4000 and now 4500. I don't see any resistance until we reach those all time highs at 5000.
We could very easily hit 5000 this week.
5000, THEN WHAT??
That's the 5 million dollar question. We could crash back down again, which would be a sign of weakness. We could breakthrough, which would be great, but the move is a bit extended, having come all the way from 3000, so it could easily breakdown.
What we REALLY WANT TO SEE is a healthy consolidation or a small pullback from 5000, build of strength leading to a huge explosion through 5000.
All the coins look really healthy right now. Barring some fundamental shock news, this looks really good.
The 200 day moving average is in an uptrend.
Positive volume is greater than negative volume.
The pattern is mimicking the consolidation and breakout from July (see my previous posts).
!! PM me with any trading questions !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections, measured moves, support and resistance.
Successful trading means proper risk sizing and trading small so you can stay in the game.
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Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
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start.tastyworks.com/
Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591