Here we have Monetha (MTHBTC) printing a huge jump today... Please, allow me to show you something... They all do the same.
Let's see how this chart goes.
We have a low 5-Nov., I mentioned that altcoins vs bitcoin hit a low around this date, from the 3rd to the 6th November, most of them.
We get the first reversal and a bullish wave starts to form...
💎Technical Analysis Summary💎
-MTH broke its key level of support around the 50s sat
-If this daily candle closes red on engulfing momentum
-This is a strong Bearish signal and will lead to downward action
-The immediate support is located around the 44s sat area
-Let us see if the Bulls can defend the level of support
A big Thanks for...
-Monetha is likely confirming a Bearish double top pattern
-As the price, today is breaking local support area
-The key levels to be watching is around 74 sat range
-This is a confluence of major support area before
-Plus, the .618 Fib coincides around this region
-The chances we can see a bounce reaction is high
-But always follow basic reversal signs...
-this coin keeps respecting the 50D MA including the ascending trendline
-we can see a small descending trendline which as current resistance
-if this level can be broken and a good retest after
-that will be a good entry zone to Buy
-your target is up to 150 sat zone
-stoploss is placed under 50D MA
Apparently, for this asset, we have broken down a bullish channel, and we are currently accumulating after this break, my thought is that we can start a sideways movement for this asset in the coming days.
Only will look bullish above the 90 satoshis area.
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shs has occurred and is happening. I think the decline will be up to 70 satoshi. I expect a drop in shs height. then I wait until 110 satoshi. this is an amateur work. it is not an investment recommendation. I wish you good luck to everyone.
Here we have multiple patterns showing up on the Monetha (MTHBTC) chart.
We have the "cup" pattern.
A "Falling wedge".
The "fake breakdown".
And also what we call the "ascending channel".
All these patterns have something in common, they are all bullish in nature.
We also have increasing volume showing up on this chart, as well as a bullish MACD and RSI.
MTHBTC is currently trying to break the resistance shown in the chart.
If broken buy the retest of the flipped support for a good entry.
Take profits are at 33%, 77% and 140% respectively.
Never buy into the resistance! Always wait for it to flip to support and buy the retest.
The Aroon Indicator shows a bullish continuation ahead.
-trading inside this bullish descending channel
-has the potential to signal an RSI bullish divergence
-awaiting breakout of trendline resistance
-upside target is up to 140 sats
-potential stoploss is below 68 sats