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If you have ever looked at a chart or made a trade then you have most likely heard of support and resistance, but everyone has their own approach to identifying and trading it.
What is it?
Support is an area where there is a surplus of buyers. When price enters this area the buying pressure is stronger and price increases.
Resistance is an area where there...
This is one for the HODLers
BUY: 0.7793 – 0.8439
STOP: When a 4h candle closes below 0.6504
-Price is consolidating under a diagonal trendline, in an area between 0.618 and 0.786 fib retracement of the larger move.
-RSI is increasing
-The broader market is showing signs of strength, so a break to the...
This is a pattern that we see play out quite often.
-Price makes a low
-Momentum is still strong, so price makes a lower low
-Momentum starts to slow, and the price makes a higher low
-Buyers start to step in, and the price pushes up
We are seeing signs that Bitcoin is losing its bearish momentum and may be about to turn around. Now is the time we consider longs.
-Price made a low into support, then swept the low and was bought up quickly.
-Price is bullishly diverging with RSI.
-If support can hold, we can target the next key resistance level at 34.4-34.7k
-If support breaks, we can watch...
A diagonal trendline resistance has formed over the past month and it was broken a few days ago. Price is currently in the process of retesting this trendline to see if it will now act as support. We can also see that the price has been compressing between the 4h 100 and 200 EMAs. Continued compression will lead to an explosive move. Overall, things are looking...
BTC has pushed into support a number of times, and while it is holding for now the support appears to be getting weaker.
If price does not have a good bounce off the support soon it is likely to fall through, giving us our short setup.
Start stacking shorts now, or short on the break of support for a more conservative approach.
Price made a good push into a key level, sweeping the previous high and closing above the 200 EMA, however we are still trading below the sweep of the high.
In order to see further upwards momentum in the short term, the key level and 200 EMA need to hold.
Price swept the recent low and we saw a good bounce up into a key level at 35.5–36.5k. Price is currently just above this level and is yet to flip it to support. Price is still sitting under 100 and 200 EMAs. RSI is beginning to make higher highs.
Price has just ran into the 100 EMA and is seeing a rejection. RSI is beginning to show strength and OBV is...
-On the daily chart, we have swept the lows of 28 Feb and it seems likely there will be at least a slight bounce here.
-There is still a key area of support around 39.5-40.5k that remains untested. The next interim support below this is around 35.8–36.7k. If bulls step in, it is quite likely the 39.5-40.5k area gets front ran.
-Price has begun making lower lows,...
THETA is looking ready to re-test the previous highs and make another leg up
-The price has been forming a pennant over the past ~23 days and the range has been compressing
-The 100 EMA has been acting as support
-Price is currently retesting the bottom of the pennant and the 100 EMA. The confluence with these two levels of support suggest the price will bounce...