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Renko

Two scenarios for BitcoinBitcoin reached the target we previously predicted (see idea below) But what are the scenarios facing Bitcoin at this stage? There are two scenarios for Bitcoin at this stage. 1-The first scenario is the respect of Bitcoin to the previous support area in the Point and Figure and RENKO charts. Bitcoin may have respect for this support range. The reasons for this can be seen in the candlestick chart. The dynamic RSI oscillator has entered the oversold area and the wave trend indicator is located on the middle support of the channel. 2-The second scenario is determined by the volume profile and momentum oscillators in the monthly time frame. Bitcoin's volume profile has a small trading volume in this area (40500) and will not be able to create the accumulation area needed to reverse the trend. In fact, the next POC area looks like $ 34,700, and Bitcoin is likely to create its next Lateral movement area around this price. (29700 - 40500) But the next important issue is that with the breaking down of support at 40,500 in the monthly time frame, the trend wave oscillator will leave the overbought area, which can be an important signal for the continuation of the downward trend in the future.
BITSTAMP:BTCUSD
by cryptoonchain
4
GBPUSD set for further decline Starting this year, a declining channel has been set up as seen by the maroon coloured lines. In Dec, we broke below this channel displaying a more bearish sentiment. A very strong support lies around 1.31836, this is a multi-year support/resistance from 2017,2018, 2019 & 2020 Firstly a retest and rejection of the channel will be a great first indication of further bearish movement. Secondly, a clear break through a multi-year support will confirm the downside. First TP ( 2:1 ratio) will be around 1.29388 as there is a strong weekly support, to be catious close half of your position around if candle shows long wicks (weakdness) Second TP (4:1) will be around 1.27137. There is a very strongly weekly support around this region. Set stop loss just slightly above the channel as show, after first TP move your stop loss to slightly above 1.29388. All charts, daily, weekly and even renko charts display a bearish sentiment. Trade easy and simple with good risk to reward ratios. I do not sell any signals, just a retail trader that enjoys trading.
Short
by UnknownUnicorn7338697
4
$SHIB to delete 1 zero soon and might flip $SOL?Using the renko chart, $SHIB currently in an uptrend after a healthy correction. If the trend continues, it might delete 1 zero targeting around $0.00010943. Using the Coinmarketcap (CMC) as of this time that would equate to $SHIB marketcap of $60,087,521,630.67 ( 549,095,509,738,353 SHIB Circulating supply x $0.00010943). Currently, $SOL marketcap stands at $59,371,213,848 while $ADA at $66,413,012,594. Making $SHIB possibly flip $SOL at top 6 based on today's marketcap. Strong support is seen at 0.00005716. Trade cautiously. Disclaimer: Trading and investing have risk. Always DYOR. Trade cautiously.
Long
by cautious_trader888