After a drop to 25.4K, The price was corrected to the level of 0.5 Fibonacci.
The price has moved sideways, in a tight range for a relatively long time. Now this range is broken and the price can continue to move.
Targets are displayed on the chart.
Last time, the price moved slowly up after getting support from the SMA-200.
After that, the Sell Pressure Increased in the supply zone and the price dropped fast.
After a reversal in the demand zone, it gained support from the SMA-200 again.
Now we have to wait and see what the price reaction is after approaching the supply zone.
After the recent drop, the price has returned to the 0.5 Fibonacci level.
The sideways and weak price movement may indicate that market participants have accepted the current price or even are preparing for the next drop.
The chart suggests increase in bearish momentum.
The chart above shows the ratio of Bitcoin price per total number of addresses.
I believe this chart gives us a good perspective.
Look at the chart.
We have a supply zone at the top.
There is a bull run after each halving event.
After the first two halving events (2012 and 2016), the price has risen until it entered the...
Launched on 22 March 2014 with a focus on technological advancement, Groestlcoin (GRS) is SEGWIT, TAPROOT and Lightning Network ready.
Groestlcoin has been in constant active development, providing development updates and enhancements every 3 months for 8 years. It is the first coin that activated SEGWIT (January 2017) and...
This strategy is suitable for position traders who hold their positions for months.
The goal is to determine the best entry and exit levels in order to achieve maximum profit with minimum risk.
Due to the bullish nature of the crypto market, trading in the “short” direction is avoided.
Step 1: Choose the best chart
Use the "Chart Quality" table to choose the...
What is a Symmetrical Triangle?
Triangle patterns are probably the most popular chart patterns studied by traders.
There are three different types of triangles: The ascending triangle, the descending triangle, and the symmetrical triangle.
Symmetrical triangles occur when price is consolidating in a way that generates two converging trend lines with similar...
What are Supply and Demand Zones?
▷ Demand Zone (Accumulation Area):
Accumulation comes from a Latin word meaning to increase something over time.
A strong uptrend can only exist if buyers outnumber sellers. During a trend, price moves up until enough sellers enter the market to absorb the buy orders. The origin of strong bullish trends is called an...
An article titled Bitcoin Stock-to-Flow Model was published in March 2019 by "PlanB" with mathematical model used to calculate Bitcoin model price during the time. We know that Ripple has a strong correlation with Bitcoin. But does this correlation have a definite rule?
In this study, we examine the relationship between bitcoin's stock-to-flow ratio and the...
■ The head and shoulders pattern is believed to be one of the most reliable trend reversal patterns.
It is one of several top patterns that signal, with varying degrees of accuracy, that an up/down trend is nearing its end.
■ As shown on the following chart, MACD rises above the signal line. Crossovers are more reliable when they conform to the prevailing...
A failed break (false breakout) occurs when a price moves through an identified level of support or resistance but does not have enough momentum to maintain its direction.
Failed breaks may also signal traders to enter a trade in the opposite direction of the attempted breakout. Since the breakout attempt failed, the price could head the other direction.
This script is a custom volume indicator with additional features.
But why is this useful?
The minimum and maximum volumes, in different time periods, are displayed by labels below the bars. I call them "Peaks" and "Troughs"(Hover your mouse cursor over the labels to see more details)
These parameters are widely used in technical analysis .
If traders want to...
This indicator is a "volume analysis" tool for confirming the direction and strength of price trend and spotting trend reversals.
What Is Volume Analysis?
Volume analysis involves examining relative or absolute changes in an asset's trading volume in order to make inferences about future price movements.
A significant price increase along with a significant...
In this tutorial, we will learn how to use the "Auto Trendline & Breakout Alert (Linear / Log)" indicator.
Note: You can find it in the scripts section of my profile
Auto Trendline & Breakout Alert(Linear / Log) Full-Version by BobRivera990
This indicator is the best tool for breakout traders.
Drawing and evaluating the trend lines of...
Note: This indicator will be published soon
In short, this indicator is a tool designed for different purposes:
1) Automatic drawing of trend lines
2) Classification of trend lines based on the reaction of price chart and trading volume
3) Receiving trend lines breakout alerts
4) Analyzing smaller time frames is time consuming and tedious, but this tool makes it...