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 has had the strongest 1W green candle last week since the week of October 16 2023. It closed a week above the 0.236 Fibonacci level for the first time since July 10 but the biggest bullish development is that the 1W MACD histogram broke above its Descending Lower Highs trend-line, which is a major divergence from the early 2023, indicating that the market...
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...
HEXUSD has almost reached its 1D MA200 (orange trend-line), which is untouched since February 05. Following our buy call almost 3 months ago, which gave +125% profit (see idea below), we are now looking for a new buy as it has starting fulfilling certain conditions:
Reaching the 1D MA200 is one of those conditions. Second is having the 1D RSI almost oversold...
We are updating our long-term view on HEXUSDT, which gave +125% profit as it hit our 0.1000 target:
As you see, the price reached the top (Lower Highs trend-line) of the Channel Down pattern that started last year. We expect a pull-back towards the 1D MA50 (blue trend-line) and then bullish extension to the 3.5 Fibonacci level, with our target set at...
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...
