Analyzing this chart from the perspective of a micro scale, there are two possible outcomes in the next couple of hours.
We could breakout to the downside, smashing through support, before we break through resistance at 0.0042, because of the three drives pattern in play. our CM_Ult_MacD is showing a bullish divergence, the RSI looks like it's...
A few possible supports, watch for a bounce I expect it to bounce off the second cyan line. if it breaks through that the Red line is the last support, below that is a cut off point.
3 target points, all the dotted green lines.
Nice support trend line from January, high probability long here in my opinion with good entry point right now.
Stoch also has the room to turn up and 4H RSI turning up. Price bounced off the .786 retrace, primed and ready.
Enigma has some positive fundamentals behind this chart. They will be presenting at Neo DevCon in a couple of days. Backed by a strong MIT team and a great vision. If it can charge through the Ichi cloud in the circled area, then we could see some strong growth. If it is rejected it will likely fall to hard support at the bold red line.
Looks over sold, and MACD is about to crossover. Triangle ascending.
I'm choosing to chart more ETH pairs since btc is still so slow to move around, I hate trading twice when I need to take profits. What strategies do you guys use?
Enigma is in a good position to buy at the moment.
1) It is possibly in an uptrend channel of wave 3,
2) It will probably be supported by EMA 50 (blue line)
3) Stochastic is at level 20, almost oversold.
4) set your stop loss below EMA50 (blue line)
5) buy, TP at Fib 1.618 or above (you decide)
This is just a simple analysis, take it as a pinch of salt and I...
Most steady consolidation I've seen, especially considering the chaos in the crypto markets.
In this market, keeping level with Ethereum is bullish, as Ethereum is in a strong uptrend.
Fractal energy recharged. The next move, whatever it is, is likely to be big.
Although it looks tight from afar, the swings inside this consolidation are between 0.004 and...