Technicals: RSI is oversold and looks like it is reversing. The price has also reached a long term support of around $4.6.
Fundamentals: Canaan stock has a high correlation with the price of Bitcoin as they produce the hardware to mine Bitcoin. The market cap is under $850 million. The bullish news is the sale of 30000 of their flagship Avalon mining kits to...
The price action and MACD are both tapering. RSI looks close to oversold.
OBV does not seem to show lot of selling even when the price action has been downward.
Expecting this to breakout in the coming weeks. This is a project with good fundamentals and will compete directly with the
centralized cloud compute providers. The market cap is still under $1 billion...
Cardano (ADA) has been in somewhat a symmetrical triangle for the past several weeks with higher lows. The RSI is in neutral territory while the OBV has not seen a significant selling activity.
This is one of the projects with huge long term potential. They have several deals in the pipeline while the engineering team is still burning the midnight oil to get the...
Polymath has entered oversold territory on the RSI. The price has dipped quite a bit but the OBV has not turned negative so much.
This is most likely a shakeout and Poly will reverse shortly and bounce back higher.
On the fundamental side they will release their new blockchain called Polymesh which is catered to Security Token Offerings (STOs).
With the influx...
The amount of accumulation shown in the OBV is staggering while the satoshi value has been fairly constant or even going down.
Expecting larger increase in price soon.
This is not financial advise. Please do your own research.
AMB/BTC has been on a downtrend ever since the last altcoin pump cycle. In addition, the recent Christmas Bitcoin pump has caused it to break down from the historical support of ~72 sats.
However, the OBV shows massive accumulation ever since the last pump (~500 million to 1.8 Billion). The RSI(currently oversold) and MACD are both heading towards the bullish...
OBV has been rising significantly while price action is still around $0.30 and has increased by 3X over the past few months.
The price will soon follow. Since coinbase is easily accessible to US investors, there will be a lot of retail demand soon.
This coin will also pump along with the other alts. The market cap is below $100 million so there is a lot of room...
BAND/BTC pair bounced on a previous R/S level which was made during its last bull run.
The daily RSI has higher lows and daily MACD is also moving towards bullish side.
Since altcoins are pumping with Ethereum leading the way, the oracle tokens (Link, Band, RLC etc) may also see some upside.
This is not financial advise. Please do your own research.
This is one of the promising projects which is building a decentralized cloud computing platform where computation can be aggregated from sources all across the globe. They are directly competing with the incumbents AWS, Google, IBM, Microsoft etc. Currently the market cap sits around $65 million which is a steal. The team is made up of several PhDs...
UVXY which is a 3x leveraged etf tracking the VIX(volatility index or in simple terms fear in the market) has bounced from the pre march stock market crash support of around $10.5. The RSI has registered higher lows while the OBV looks like more shares are being accumulated. Plus the trading volume has increased considerably over the past few months.
SPXS has been slowly gaining strength. The RSI is reversing from oversold territory while the OBV bounced off a support.
Similar price action can be seen before the March pump.
With the S&P and major tech stocks at all time high, it may be wise to get a hedge. In addition, US election limbo may lead to high volatility in the coming weeks.
This is a short term...
Ever since the march dump, the SPY has recovered while the semiconductor stocks have made significant gains. Some of them are also approaching all time highs.
The US ban on TSMC manufacturing for Huawei will be a major problem.
TSMC is the leading manufacturing for the most advanced chips and if china does not get access to it, it will cause a domino effect....
DRV tracks the inverse of commercial REITs. Ever since the pandemic began several companies have instituted work from home policies.
A large majority of companies will either default or give up on their leases. On the other side hotels & malls are not seeing much traffic either.
All this points to a drastic drop in returns for REITs.
Daily RSI has...
Currently there is a huge divergence between the prices of paper silver(~14 per ounce) and actual physical silver (>20$ per ounce). Moreover due to the global pandemic several silver mines are shutting down.
This is a classic situation of high demand for the physical and low supply. If you can't get your hands on physical silver a good trade would be the USLV...
The OBV has exploded since the recent pump in 2020 by more than 200%. This shows significant interest in alts.
Experienced traders or whales are possibly accumulating before the retail FOMO kicks in after the bitcoin halving.
Another thing to watch out for is the golden cross of 100 MA over 200MA which will happen soon.
Alts will outperform bitcoin once they...
AION had a recent golden cross of the 50 & 100 MA crossing over the 200MA. Massive volume was registered which is supported by the OBV indicator.
Resistance level of 1200 sats was flipped to support and is currently being retested. Even after the dump the RSI has higher lows indicating more pumps to come.
Next pump will start soon.
Note: This is not financial...
Here are few interesting price levels which btc used as support and resistance.
The 2019 bull run reached a high of around 14k which was the 0.618 fibonacci retracement level (in white) for 2018 bear run that started from $20k all the way down to $3k.
The 2019 low reversed at the 0.618 fib retracement level (in yellow) for the 2019 bull run where the price...
LTCBTC just had a golden cross with the 50MA crossing over the 200MA. The volume is also significant.
The RSI has had higher lows and is approaching bullish region. The MACD is already positive.
The long held resistance level of 7500 sats has been flipped to support.
Long term view is very bullish as several other alts are pumping as well.
Note. This is not...