B19:10 MetherUS @ BINANCE
• LTE
X
Description • May 10
Yesterday's sell-off was had and brutal. Likely,
yesterday's sell-off was the climax of the
bearish trend that we've been trading in since
the end of March.
There's two indicators that I want to look at
today; the Volume and the RSI.
If you go back in time, you can always see that
massive volume spikes often coincide with big
bottoms and/or reversals. Over the last two
years, there's only been a handful of
occasions where we had similar or more
volume than yesterday, see the green arrows.
Furthermore, the daily RS! had a reading
below 25 points. This has only occurred three
times in the last two years and has signaled a
bottom on every single time.
At last, the 30k - 28.8k support area has held
yet again.
We can deduce from this chart that it is likely
that we've found a bottom, albeit temporary.
In mv analvsis below I make the case for
below 25 points. This has only occurred three
times in the last two years and has signaled a
bottom on every single time.
At last, the 30k - 28.8k support area has held
yet again.
We can deduce from this chart that it is likely
that we've found a bottom, albeit temporary.
In my analysis below I make the case for
further downside, which I still believe is
coming. However, it's likely that we're going to
see some green or neutral price action for the
coming days. In the end, my bear target is still
in the green area on the chart below.
• LTE
X
Description • May 10
Yesterday's sell-off was had and brutal. Likely,
yesterday's sell-off was the climax of the
bearish trend that we've been trading in since
the end of March.
There's two indicators that I want to look at
today; the Volume and the RSI.
If you go back in time, you can always see that
massive volume spikes often coincide with big
bottoms and/or reversals. Over the last two
years, there's only been a handful of
occasions where we had similar or more
volume than yesterday, see the green arrows.
Furthermore, the daily RS! had a reading
below 25 points. This has only occurred three
times in the last two years and has signaled a
bottom on every single time.
At last, the 30k - 28.8k support area has held
yet again.
We can deduce from this chart that it is likely
that we've found a bottom, albeit temporary.
In mv analvsis below I make the case for
below 25 points. This has only occurred three
times in the last two years and has signaled a
bottom on every single time.
At last, the 30k - 28.8k support area has held
yet again.
We can deduce from this chart that it is likely
that we've found a bottom, albeit temporary.
In my analysis below I make the case for
further downside, which I still believe is
coming. However, it's likely that we're going to
see some green or neutral price action for the
coming days. In the end, my bear target is still
in the green area on the chart below.