HEXUSD has been trading within a long-term Channel Down since September 2021 and the current weekly rise doesn't seem to be able to alter that. It will be the first green 1W candle after 6 red in a row.
The pattern so far gives roughly -97% Bearish Legs to the 1.786 Fibonacci extension and then Bullish Legs towards the top of the Channel Down. As a result, we...
HEXUSD completed 2 straight 1D green candles after reaching the bottom of the Channel Down pattern. The 1D RSI completed a Lower Lows pattern similar to the June 14 bottom sequence that was the last major buy signal for HEX. As a result, we turn bullish on this crypto, targeting the top (Lower Highs trend-line) of the Channel Down at 0.0056. If however the 1D RSI...
HEXUSD hit the bottom of its 1 year Channel Down with the 1D RSI oversold below 30.00. This has been a strong buy signal on all three previous occasions inside this pattern. With the 1D MA200 (orange trend-line) as the medium-term Resistance, we will target (slightly below) the 0.5 Fibonacci retracement level (at least) at 0.0300, similar to what took place on...
HEXUSDT is recovering from the extreme volatility of February 04-05, keeping the 1D MA200 (orange trend-line) intact. Despite a largely overbought 1D RSI, the last time we saw such a huge 2 day volatility was during May 27-28 2022. That proved out to be just a pause before a continuation of that bearish leg towards the bottom of the long-term Channel Down.
That...
HEX (HEXUSDT) is on a strong 3-day rise after it hit the bottom (Lower Lows trend-line) of the Channel Down pattern that started on the August 14 2022 High. We have used the 1D MA50 (blue trend-line) as a short-term target before and this is what we are after again. On the medium-term we expect a Lower High of the Channel Down to be formed on the 0.618 Fibonacci...
HEX (HEXUSDT) has been trading within a Falling Wedge pattern since July. Today it is on a strong 1D candle with the RSI rebounding on the 30.000 oversold barrier. Having priced a new Lower Low at the bottom of the Falling Wedge, this move has the potential to hit the 1D MA50 (blue trend-line) on the short-term and the 1D MA200 (orange trend-line) on the...
