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BTC pierced above the 7238 USD VPVR level! Will it close above?Bullish Scenario playing out in my Apr 06 post in my previous on-going analysis updates . Note: as explained in a prior published idea, the current ascending channel is drawn as such base on my personal trading preference to ignore the initial equilibration “ringing” after a massive sudden move. I believe it tends to be wise to wait awhile before a clear new market structure form after the previous market structure has been broken. Previous stances ( posted here ): QUOTE: (Apr 05) Right now I am actually neutral in the short term, so long as the red 21 EMA holds. I will only be bearish if the green 50 SMA fails to hold. The PRISM oscillators indicates a bearish bias atm, however the Snap Oscillator and the AJ-ribbon are only gently sloped downwards, which could also mean a relatively sideways movement, with a very slight drop (perhaps to retest the 50 SMA) before rebounding. Right now, I am actually slightly and cautiously bullish into the longer-term base on the current market trend. But similarly, for me to become truly bullish, the price will need to break up above the yellow ascending channel, and to clear the 7238 USD VPVR resistance as well and retest it as support. (Apr 06) The fact that the Sell signal have been triggered on the Cyber Ensemble suggests that it will be difficult for the price to successfully break up higher this time round as well. And if that is the case, the price will likely come back down; and may very likely break below the red 21 EMA, as well as the green 50 SMA with the failed attempt by the bulls -- with the immediate bearish price target of 6100 USD at the bottom of the ascending channel drawn, and hopefully closing and supported above the orange 200 SMA. Setting stop-loss at the 6612 USD VPVR level just below the green 50 SMA to lock in profits accumulated so far just in case. (Apr 06) If the price falls and closes below even the orange 200 SMA, then BTC will likely follow through with a break down below the yellow ascending channel, marking the start of a more significant and perhaps violent downtrend. However, as per the above latest chart posted, the AJ-Ribbon looks to be in a strong upward swing, which will likely pull momentum back up into the positive. This is in conjunction with the main P-Oscillator looking to cross the 21 VWMA really soon as well! I'm cautious slightly biased to the bullish case atm now, but will wait and observe which condition is fulfilled before making my next move. (Apr 06) BTC had now successfully closed above the yellow ascending channel. Switching to 4hrly chart where the Cyber Ensemble and PRISM Signals indicators have now have better confluence with the price action, indicating a reduction in volatility. The bullish/bearish scenarios as described above are as shown. Moving up to the higher 6hrly timeframe: The AEONDRIFT bands (stdev bands -- similar to the well known Bollinger Bands) have drastically narrowed, indicating reduced volatility; and a possible significant move incoming. 6hrly chart (zoomed out):
BITSTAMP:BTCUSD
by cybernetwork
9
$SNAP long term playWith schools closing nationwide in the US and other countries (although $SNAP) isn't as big international (86% USA usage), the average user per day should increase from 218mil last quarter as well as monthly active users clocked in at 360mil the previous quarter. Last quarter (4q 2019) revenue doubled in advertising so the company was already gaining traction in the demand market for advertisers; expect that number to increase or at least hold. The drop off at these prices show a good risk/reward ratio. Snap has lost 50% of its market value in the past 3 1/2 months, there is a lot of room for upside especially with a likely increase in users and revenue.
NYSE:SNAPLong
by levi.stern95
Oh SnapNote: All of what I claim below is simply the way I perceive the market. I am not certain nor do I suggest you take my advice without first taking into consideration what I have said. Whatever you do, be critical of what everyone claims. Those who claim certainty in these markets tend to get hurt the most. Observations: Snap was publically listed on the Cboe BZX exchange on February 27th, 2017. Since this time, the price has been on the decline. But on May 13th, 2019, price action broke above the major diagonal downward trendline A, suggesting that sentiment had reversed. I believe Snap is currently in an overall uptrend until it breaks below the point in which it broke out of ($12.48 to be exact). Therefore, I have highlighted the major support level D as a region where if price reaches, may bounce off of. If price breaks below this point, I can only imagine there will be more pain to come. I personally believe that smaller trends can be found within larger trends. As you can see in the above image, Price broke out strongly from trendline A, forming the upward trendline C. Now look at how the price broke below trendline C and began to form a falling wedge. I expect some more consolidation within this pattern and then a continuation up towards the resistance trendline B. I’ve chosen this spot as a target because price action resisted harshly from it once before. Thank you for reading, Have a nice day!
NYSE:SNAPLong
by PoorRicardo