After a nice run yesterday, NANOBTC has consolidated and found support around 0.0009250. This point recently has been a very good support/resistance area for NANOBTC and interestingly which also happens to be at or around the 0.618 fib retracement level. With this clear support and consolidation, we now have a flag/triangle pattern and now heading to its...
If you haven't noticed it already but DigixDAO, DGD/BTC is back! As I have discussed in my previous posts about the "imperfect" inverse relationship of DGD/BTC vs BTC/USD and the trading opportunity that goes with it. To a certain extent, it has shown to move rather inversely compare to Bitcoin prices but it has shown that it's definitely not a perfect hedge...
Looking at this chart I see a future layout on CAD/CHF. The current price of sits at around 0.72863 right around at 0.7235 (previous support level), I think a rally could happen in the next 1-2 days if it hits the support zone. Once support zone is hit, price could go as high as 0.73395 to the previous support zone that turned into now resistance. If price reaches...
After a nice spike and some consolidation, NCASH/BTC (on Binance) found support around 0.00000425 and is forming a Flag/Triangle pattern at the moment. Heading to its Apex now so look for a break of the flag on the upside, with increasing volume for another leg up. If you want to day trade NCASH/BTC take into consideration that it had spiked for quite some...
There are many ways to trade a breakout and a good one to trade during a bull market is the Flat Top Breakout. What is a Flat Top? A Flat Top occurs when there is a clear resistance level (flat top) and a slope of higher lows, indicating the upward trend: As you can see in the chart above, the pattern looks like a triangle with the top of the triangle being...
Possible enter zone for a bullish order. A pullback is starting, let's hope it continues till hitting the 38.20% - 50% of our Fibonacci tool which it's the same zone of our movement average for a perfect price to enter. Then, the trend will continue its long movement.
In life but as much so as with trading, we tend to make things more difficult than necessary. That's why with trading it's best to keep things simple and focus on effective strategies that have a high probability of success. In this regard, a rather unknown but simple and effective trading strategy with a high probability of success is the Box Breakout. What...
In this video I've reviewed the Sell Setup that I posted yesterday. Also I've Previewed potential 2 scenarios. 1st plan is buying with Cypher pattern and 2nd is Selling with Bearish Bat pattern.
Bitcoin is having a bit of a down day today. If you want to hedge/protect against or even profit from a drop in BTC, especially if you pair trade with BTC pair trading, then one of the best ways to do that without having to go short or margin trade BTC is by trading DGD/BTC. As I've stated previously in my previous post about the inverse relationship of BTC/USD...
As you can see Ripple, XRP/BTC has been consolidating after a nice runup since yesterday and is now forming a (bull) flag pattern. Is XRP/BTC setting itself up for another move up? Well, we have to see about that but with all the rumors and hype around Ripple possibly being the next coin to be added to Coinbase, it could certainly make another move again soon....
We love it when prices are going up but what if when prices are trending lower. Can you profit from that too? Well, let's take a look. When prices move lower rapidly and the indicator(s) gets oversold, some of the best rallies occur when they bounce back. These trade opportunities are the so-called "oversold bounces". Usually, these oversold bounces can be...
Have you ever been in the situation that you've missed a huge move on a coin but you didn't want to chase cause you were afraid that it would tank or dump on you? Well, my friend then you're not alone! Of course, depending on the situation or pattern formed, it's best to not chase a coin that's up a lot already. Usually, you're (too) late and there's a good...
Price has already rejected 61.8 major Level and If it will break above the trendline then we have a long opportunity. If you find this analysis useful then like and comment. ;)
The graph above shows a comparison line chart between DGD (DigixDAO) vs BTC over the last 30 days. As you can see the correlation between the two is quite significant. It's not a -1 inverse correlation against Bitcoin so it's by no means a perfect hedge against a drop of BTC but good enough to trade on we think. To test this "theory", we thought lets put on...
Cardano has been in a downtrend since the beginning of January. It has retraced more than 60% compared to BTC. Daily RSI is oversold (25) with MACD in the lowest territory since. The trend is clearly downward for ADA/BTC, but are there any signs of a reversal to be found? Well, let's see... Currently, Cardano has reached the daily support level at around...
After its initial run, Genesis Vision GVT/BTC with a peak at 0.0032333, has now formed a flag. As you can see it has found very nice support at the lower trendline, touched three times and still above the 50 ema so still in an uptrend. If this support holds then a touch of the upper trendline is to be expected, which will be the first target to reach. The last...
EOS/BTC on Binance has been in a downtrend for some time now. On the 4 hour chart, the RSI is very oversold with a reading around 20 and since January it has retraced back to the 0.50 - 0618 fib levels. Good and key support level should be around 0.00082000 for the near term. But for the short-term, is EOS/BTC ready for a bounce? If you take a look at the...
This week and next could be a great opportunity to still get some ARK