Since the market broke the previous resistance level, it became the support area(375~379) and now we have another short-term support(the blue box) . It has been tested twice(15 mins timeframe). Now it's more like a double bottom in this timeframe and we've got what we need to enter the market with a long position.
What we are expecting now is a breakthrough. No surprise that the price would encounter huge resistance in the current position as it was the high value area before. if this pull back created a high low(above 377) thus bring us a uptrend line below with the resistance above, It would eventually become a triangle pattern and we can trade break and test.
There's about to have a pullback anyway. it's just a matter of how much it will pull back. This uptrend now can be seen in both 1 hour and 4-hour timeframes. But the possibility of double bottom still can not be tule out which means when touch this swing high(from 356-388), the price would go down again and test the previous low point to form a double bottom then...
Turns out yesterday was totally wrong. Now there's a new triangle forming in a downtrend. If it breaks down then the trend continuation is inevitable. We've gone through two triangles before (yellow line). crucial position. let's wait and see how the market chooses. For a long time frame, this downtrend has been broken though. buy 370 sell 384 stop 363
Blitz Bear: We've been in a long time downtrend and now the price is under the pressure of EMA 50. According to the volume it is unlikely that the price will go up and breakthrough to the upside now. When this pullback is over, The market might have another panic sale which causes a long consolidation. Blitz Bull: The support level still matters, If the price...
Blitz Bull: seems like we are having an ascending wegde right now. With a high-pressure zone above an uptrend line pushing up, inevitably it will need to break through to the upside Blitz Bear: two days ago the price has created a lower low and lead the volatility range to a low level.If we see this small uptrend as a pull back then the next wave might lead the...
There shows a double bottom, now waiting to see if the price can break the 397. if it is then a good chance to buy. Tend to think it creating the higher low now so if the next pull back goes near to 383 also a good position for long trades.
Blitz bear: After a free fall we can spot a descending flag, this also shows a sorting area that is still under downtrend. Even though the price had been above EMA 20 for a while, but the bull just can push up more thus the candles keep attaching EMA 20, a very weak signal. Our potential target would be 361. Blitz bull: There's no surprise that price would...
Bearish view: Since the price now is under EMA 50, we are expecting a long-term bear market. The next support level is roughly 380~390. It will need some time to conquer, therefore, a consolidation is likely to happen for a few days. Bullish view: The price has broken a major support area, it would certainly increase the passive emotion and cause some panic....
Bearish view: With a downtrend line that keeps pushing the price lower, the market tends to go down and break the last low point(425.7) and create a lower low. Bullish view: Now 15 mins chart is forming a short-term triangle pattern and this pattern has been broken. This would further squeeze the fluctuation range. Plus the ATR goes to an extremely low range...
Now the situation is not really positive towards us. Yesterday I drew 3 boxes and they all broke straightforwardly. On 4 hours chart, the price is heading to the next big support level (yellow dashed line). I think that's the next target. Wait until the opportunities come to that area then look for a long trade. While if it broke, look for the short trades. On...
I'm trying to divide it into three areas to do a 1-day analysis. Purple, yellow, and green Box respectively. A great hammer showed after yesterday's analysis, therefore the lower high formed and the price is directly heading down. When zooming down to 15 mins timeframe, it shows the support (443) has been broken. So now it encounters double pressures of decline....
The price tested the old position, again, in 31st Dec. We could have two views: Bullish view: (green line) The price action from 13th Dec to 31st Dec can be seen as two major waves and it forms an uptrend, as long as it didn't break down the previous low, we can think this trend is still valid thus should expect a higher push up to overpass 480. Bearish view:...
BCH is exactly following the price action of BTC. They both come to a high-value zone which has been tested two many times since 4th Dec's freefall. Regarding RSI, it is still on the margin of 30. And the Average range goes to the recent high so the likelihood of narrow waving is high and tomorrow would be new year's eve. For the coming few days, I tend to think...
Price has broken the nearest support, now it is time to prepare for the next optimal trading zone. This range can also be seen as a buy slot but since it's already a downtrend so sell at 47611 buy at 46322 stop 48443
the uptrend has been reversed. Short-term resistance:445,next support: 435. Even though the trend direction has changed, it's still unlikely to suffer a big freefall. @Bullish view: the market will try to conquer the resistance again and stand above it to continue the consolidation, the wave range might go to 440-480. @Bearish view: 445 this resistance will...
now a really critical position with one hand it was the previous neckline, and the other hand the last major swing level. The weird thing is the high volume that happened on 27th Dec now keeps silent, we can't even see a notable buy volume shows when it's falling down. This means the individuals were not that interested or they don't think it's a good time to buy...
After 24th's breakthrough, the highest price went to 461.2 on Binance. it doesn't have the power to keep conquering higher positions so the price started to pull back and with no surprise, tested the previous resistance(44-450). Also the previous double bottom's neckline. We can imagine how big the support is in this high-value area. When changing the timeframe...