These signposts of resistance are not pointed out in a negative way, just a simple look at what needs to take place for a sustained move up.
These S/R points have developed over the past weeks and months, it is now after some re-tracing that they are resistance lines.
This is not a prediction as to when BTC turns around or a signal for an entry or exit, this is simply reflecting my thoughts about S/R and how robust the feeling is around long or short sentiment.
The broken channel that I point out is a solid statement that many want price lower and have the power to make it happen.
It would seem that if RSI breaks below the...
BTC is at a pivot point once again and there are good indications that there might be strength in the move up this time.
I am experimenting with different chart representations this is one style of post that I have not done before, the three in one, so I'm open to suggestions.
Here is a short look at BTC this morning and the support it has especially the bottom channel line. I am not saying that this is the point of no passing however it has indications of past activity and being supportive at 9636.
There would be no surprise in BTC taking out that support level on it's way to a 10-20% retrace however I don't see it here. There may be...
If the look of the page is not great bear with me as I practice with this format, thanks.
I see that BTC did retrace a bit however not as much as I shared yesterday and not anywhere neat enough to stop the momentum.
I expect it to close at the local support level above 9847. The next move I figure will challenge the red box of strong support and close above...
I will be posting here observations of where BTC is and the strength in a move up or down. This will not be a signal or call to do anything other than learn Bitcoins very interesting patterns and to find ones own methods of reading the tracks that Bitcoin leaves.
Today's obs. is strength is still in a position to move higher but not without the risk of a retrace...
Some observations of BTC this morning. I firmly believe that volume indicators are the best test of the state of the market and what direction things are going. Volume this morning is not great although the RSI is showing a strong move but those indicators moving opposite of each other does not signal a shift in sentiment or the likelihood of a strong move soon....
The things I like about this coin
- Sell volume is slowing
- Descending wedge indicating potential reversal
- Bouncing below 50 RSI unable to break above this resistance
- 9 day moving average not in support
- MacD not crossing over anytime soon
- Larger downtrend line must be broken before confirmation of a continued up trend
There are a few things to like here and they are the standard indicators that we all look to; trend lines, support, resistance, recent price action as well as a few other things many of is like to take note of.
The words on the chart suffice to describe my analysis and I will add a few other thoughts here;
this coin is very limited in number approx. 18 mil., the...
Is 39421 a zip code? Maybe it is but not in this context.
It is the next tough resistance for XRP to break through for confirmation of further movement up. This coin has had a good 30% run in the last couple of days and now it is rest period and a FOMO assessment.
Lets see what happens at the close this afternoon, a good large green candle(engulfing) would go...
So, how many charts does one have to go through to get a positive signal these days? Fortunately ADA is at the top of the alphabet and one can start off the chart search on a positive vibe.
There are a number of factors to like here, such as the support holding after a number of tests, the 9d ma in support and the breach of the downtrend line with a solid green...
Three things I like about BTC this morning
- 9d in support
- Ascending bottom line continues to be supportive
- Descending line from Apr.23 broken
Oh, and a fourth thing; RSI is above 50 and moving up.
Now for this to be very positive then the 2 red resistance lines would have to be breached. Onward and upward.
The ups and downs of ADA. For a conservative play on any coin check out and back test the below 30 entry and subsequent move up. This indicator in a bear market needs plenty of patience but in a strong reversal trend or a bull market the move into and then out of 30RSI is a lot quicker. I've back tested this idea as I'm sure many have and find that for the...
Here is a coin that is looking good with one little caveat and that is the RSI is showing resistance at 50 however that may shift with he volume increase. I will watch this over the next couple of hours and then likely make a call. It will have to work harder to get my money but it it trending that way.
There are some things to like here; TEMA has crossed over, volume is building, S/R is strong based in history. Watching for RSI to stop and bounce up, clearing resistance at 0835 and then the tough one at 0871. I like this coin and how it has been good for people over the years, one of cryptos orignals.