Take a look at this picture perfect inverted head and shoulder setup on xrpusd's 1 day chart. Also take a look at how close the 50ma(in orange) is to rising above the 200ma(in blue) for a 1 day golden cross. Now factor in how the stoch rsi indicator has plenty of room to head upwards and is already suggesting its ready to do so. Lastly, factor in that we have...
Currently sitting in the 50 EMA.
Daily stoch RSI looking oversold, possibly a reversal on the short term
By the way, Ripple has taken the 2nd position in the market cap!
This is not a trading/financial advice!
Good luck to you all!
These days have been a bloodbath in the cryptocurrency markets.
These are the key support levels you could use to predict when it will reverse.
RSI and Stochastic RSI for 1 Day and 4 Hours time frame have reached oversold.
Should we fall bellow these keys supports, expect it to free fall to the 4000 dollars range, however it probably would not last long as...
Upwards breakout rejected. Short down at least to lower support line, in the $2.75 region depending on its rate of decline. Bearish cross on the daily Stoch, RSI very over sold. PPO moving down with some bearish divergence. Also remember that a rising wedge, particularly after some strong downward movement (as has just happened with PONY) is a bearish trend, and...
Could be an impending breakout...could also be a fakeout...watch for bullish volume to confirm. Probability favors a breakout with btc being so bullish lately, however there's not much room to climb up on the 4hr stochrsi...so it could still go either way.
Looking at the 1day chart you can see that if we were to break upward here we would be forming a higher low on the 1 day chart and that also the inverted head and shoulder pattern is still in play. However the stochrsi on the 1 day chart has plenty of room to dip still. I think we could still be forming a 1 day inverted head and shoulder pattern however if we were...
If this continues to play out this way there is a good probability this wedge could drop the price back down to the support zone of the 4hr 50ma(in orange). Whether or not the 50ma will maintain support if it breaks own tot hat level is the question. Of course we could always break upward too but I won't be confident of that until the 4hr rsi and stochrsi are low...
a nice bounce upward off of the 4hr buy/sell line, As I've said int he past once we've hit 5 consecutive candle closes above the buy sell line, it's usually more of a buying opportunity than a selling opportunity. We currently have nine 4 hr candles in a row above the buy/sell line(in orange). This also give the stochrsi and the rsi a chance to cool down to give...
Just got a nice bull candle to end the day on the 4hr chart that took us above the current bearflag we were in and turned it into an inverted Bart. However, in order for this break to eb confirmed and not just a fakeout we need to see. the new 4 hr candle maintain itself above the 4hr t line(in tan). the potential climb is $7300 with the rsi and stochrsi where...
We are approaching the support levels
Also, we've seen that the stoch RSI has been in the overbought area, so it would go down, and right now it is going down.
Stoch RSI also indicated bearish divergence.
In the graph, we've seen that a wedge is formed.
This market structure is (probably) going to break at around july.
This is not a financial advice.
Today i would like to share with you an idea on BTCUSD
I found out there are 2 scenarios that are most likely to happen
First, is we follow market structure using the blue line as our support and restistance, which basically means, currently we are sitting at the support level.
By following this blue line as a support, we could expect a breakout of...
From the daily chart, we see that cardano is at support and also in the 50% fib level.
A wedge is formed there.
RSI is also at around 40, and also Stoch RSI is at oversold.
we could expect it to rise in the next few days.
comments and feedbacks are appreciated!
this is not a financial advice!
Been a while since the last update, I've been quite busy although I kept reading stuff here and there.
BTC is developing a bear flag BELOW the 200 days EMA. This mainly means we are going down!
Stochastic RSI shows a fast invesrion from the overbought area down to zero.
Personally I would set a target price around 7200, close to the strong trailing support...
Descreasing selling volumes on the 4H chart... Stoch RSI oversold... MACD is confirming the bullish divegence trend. In the 2H chart IOTA looks good..same characteristics than the higher time frame, but here we are over the Ichimoku Cloud - Lagging Span (2H) out of the Cloud is a bullish signal. All indicators tells me that a wave 2 is starting in the next...