Ripple continues to try to break through the resistance of the descending channel,
However, XRP failed to break after four attempts,
The lower support is at 0.46 price.
If the bottom pattern is formed and the downtrend resistance breaks through, it will be a long entry point.
In the 11/7 article we have mentioned that LTC broke through the daily convergence triangle.
The price rose from the highest price of 61 to the price of 94 and then fell back to the current price of 82
The picture shows the LTC weekly chart,
It can be seen that there is a resistance at the price of 80-83.
The weekly closing price is here and the upper shadow...
The recent market sentiment has changed from an extremely bullish sentiment to half long and half short.
Some people think that there is no resistance above 20000.
Some people think that BTC will have a big back retest after reaching previous high.
The basic of the short side is not nonsense,
From the previous bull run, there's always a big back retest.
A while ago, most people focused on whether BTC can break the previous high or not.
However, BTC at this time does not yet for us to enter the market, because it has not yet returned to the price that we can accept.
The recent mainstream coin is Ripple.
In the 10/21 article, I mentioned that Ripple is brewing a weekly inverse head and shoulders pattern.
oday let's talk about: support and resistance
Look back on this year’s BTC trend,
There are three relatively large growth.
How many people have entered the market in these ranges,
After my observation,
I found that most people didn’t enter the market or got off early,
Because that BTC has reached the...
Today we will talk about the fundamental of trading,
What is trading? Is it technical analysis or pattern analyze?
After being failure, I finally found out,
the fundamental of trading is actually the market itself.
All markets have only two status: consolidating and unilateral market, one with a trend and one without a trend.
May I ask whether the current trend...
In the previous article, we have mentioned that the weekly TF of BTC is constructing a W bottom formation.
The neckline is located at the Fibonacci 0.5-0.618 retracement level (11500-13480),
Retest the neckline is the entry point for long orders.
Back to the chart,
The chart shows the weekly TF of ETH,
You can find that ETH has completed the neckline retrace at W...
However, even if we know that there is a possibility of a callback, we still wait for the callback to test support zone before entering long in the market.
Rather than guessing the top fomo or shorting without thinking.
14000 is the former high resistance. From the candlestick chart, we can know that there are many trap traders.
It is reasonable to know that the...