As my title indicates, this plot highlights facts above all:
- Bitcoin price follows "Square Root" channels (SQRT function)
- All with an alternation of local Dips (each time higher than the previous ones) and new All Time High (ATH)
- These cycle Dip always materialize by an RSI 14 under a value of 34, showing an oversold (see my analysis of 2018-12-18 in link...
On weekly chart:
Reverse signal from previous level
Entry at around 1.18600-1.1800
Stop loss at previous level around 1.2100 = 2% loss
Take profit at around 1.14050 = 3.80% gain
Take profit at around 1.10010 = 7.20% gain
Stoch RSI overbought on weekly and Monthly charts
Current price is @ 61.8 Fib level from the previous high on Monthly chart
Entry at current level @ 0.73200
Stop loss @ 0.74200 = 1.17% loss
Take profit @ 0.63 which is around 61.8 Fib retracement level from current prices = 13.90% gain
Trailing stop of 150 pips monitoring...
I tried to do some Wyckoff analysis, supporting RSI-14 indicator. As RSI shows overbought and oversold areas, that could be much helpfull in recognizing the accumulation and distribution phases. And... indeed that seems to be is helpfull.
Trade of the week for me, manages to catch this big drop on oil that I had been patiently waiting for, for a while now. Set an order at my key level of resistance, got triggered and then she was off. Some sort of correction on OIL has needed for a while now technically it was a great set up, big accumulation on this pair for a while, catching people...
Market in last 24hrs
-ETHUSD saw an uptrend and broke the upper band
-Price volatility was very high. The market moved ~14.89%, between $432 and $376
Today’s Trend analysis
-ETHUSD expected to see a breakout as double bottoms observed
-Price at time of publishing: $423
-ETH’s market cap: $48.2 Billion
-Oscillator indicators are mostly neutral. RSI at...
GC1 reached the formation target price of the ascending triangle today
Upward trend still intact
RSI is overbought on the daily and weekly chart
RSI shows a negative divergence on the weekly chart – for a further increase it would be important to cross the downward trendline
In my point of view GC1 climbed to fast in the last days. I’m expecting a break...