Hello Crypto Legends,
Today I talk about what I see.
We have a bullish Fibonacci in place in this image.
With a sustained level at 38.2%
Which signals support at this level and a bounce here will indicate that there is further support at lower Fibonacci levels.
This placement of the fibonacci can help you measure market velocity in real-time.
I also see a rejection at the 50% Fibonacci level And it elevated back to the 38.2% Which from experience is a bullish indicator.
Looks like a bounce at the 200 moving day average red line that can be located that moves along with the blue 100-days moving average and green 50-days moving average.
On a larger timeframe this 200 moving the average red line has been a location of great support during a massive downturn. A great indicator for shifts of movement from bearish to bullish. Long term. (3-6 months)
Rsi is at 37.30
While the RSI MA based is at 39.61
It looks like they are about to diverge at this very moment. Which signals bullish momentum.
Also, during massive bullish movement in crypto markets, it is common to see RSI bouncing upwards at above 40-50 RSI points.
We have the CMF - Chaikin Money Flow at -0.03
Today I talk about what I see.
We have a bullish Fibonacci in place in this image.
With a sustained level at 38.2%
Which signals support at this level and a bounce here will indicate that there is further support at lower Fibonacci levels.
This placement of the fibonacci can help you measure market velocity in real-time.
I also see a rejection at the 50% Fibonacci level And it elevated back to the 38.2% Which from experience is a bullish indicator.
Looks like a bounce at the 200 moving day average red line that can be located that moves along with the blue 100-days moving average and green 50-days moving average.
On a larger timeframe this 200 moving the average red line has been a location of great support during a massive downturn. A great indicator for shifts of movement from bearish to bullish. Long term. (3-6 months)
Rsi is at 37.30
While the RSI MA based is at 39.61
It looks like they are about to diverge at this very moment. Which signals bullish momentum.
Also, during massive bullish movement in crypto markets, it is common to see RSI bouncing upwards at above 40-50 RSI points.
We have the CMF - Chaikin Money Flow at -0.03
