While bitcoin is losing ground, another bitcoin, which is a diamond (BCD), shows a bullish trend.
At the moment the price is consolidating in a balance with range 0262-0294.
Level 0262 is a key support for now and if this level will be breakdown the price falls to 0240.
Breakout level 0294 will open the way to 0323.
Take Profit1: 0294
Take Profit2: ...
BINANCE:IOTABTC has held relatively well during the BTC bloodbath of the past days and is reaching the end of the triangle.
The pinbar candle could indicate a move upward is incoming, as seen last time this happened.
A number of interesting signals here. Broken downtrend in RSI & Stochastic charts with both charts now indicating Higher lows. Inverted head & shoulders evident seen on the 3-day chart. Finally bottoming candle about to be tested for third time. I don't think there'll be a forth. Suggested targets at previous support points highlighted.
There has been a bullish engulfing candlestick pattern on top of a strong support level in an uptrend after a retrace.
Also the price has broken above the kumo as well as the chikou signaling high probability of continuing uptrend.
Today an inside bar formed inside yesterdays inside bar. This signals consolidation within the short-term uptrend. A break above the high of today will take me long with a stop below today's low. I will target 2R for taking profit, but around 1R I expect to encounter possible resistance. Still, I intend to leave the trade on unless a clear bearish candlestick ...
There is still a strong downtrend in place. On Friday we saw a rejection of lower prices. Today we see a rejection of higher prices. This is in line with the trend and supported by horizontal and dynamic resistance.
We have seen some inside bars in the short-term uptrend signaling some consolidation or indecision. Today was a volatile day with the BOC announcing interest decisions.
The price broke lower breaking the low of the mother bar but closed inside the range.
This is a high probability signal for a long trade.
I will see if I can enter a little lower than the current ...