FX_Baba

GLMBTC GOLEM Breaking out!

Long
BITTREX:GLMBTC   Golem Network Token / Bitcoin
Golem looks really good on the Daily time frame to enter a Long position according to our trading system and our set of indicators. Let's go through them and explain what information they are providing us with that makes us have such certainty

1) The indicator applied o the chart is a Bollinger Band at a 20 period for mere visual reference
2) ZRange indicator set with a period of 20 measures volatility based on Standard Deviation. We can clearly see how it has increased pass the upper level. An increased in volatility can be interpreted as an opening for price to make a run.
3) ZVolume indicator also set at 20 helps us see Buyers and Sellers Volume . Depending on the overall Trend Direction, shown as uprising by our ZTrend indicator, we pay close attention to the Buyers volume which have had a couple of increases above the upper level recently.
4) ZClassic illustrate in an oscillator form the position of Price in units of Standard Deviation in reference to a moving average. In this case we have it set at 50 and you can see how price has been breaking out the upper level several times recently as well

To summarize, we have Price breaking out with an increased in volume during a time when volatility is rising on a digital assets that is trending upwards.

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