The market uses to do a fake out before significant moves. 1) Apex 2) Fake out -> Run stops, take liquidity 3) Start the significant move Now look at the current price action (next post)
Likely that we fill the gap up to 6400 which is confluent with the daily OB and Point Of Control.
No bias here, observation: - Back at yearly support - Shorts near ATH - Below weekly EQ 6707 - Below Point Of Control (POC) around 6400 - Volume still very low -> This is neither good nor bad in this situation Conclusion = still indecision. Price is in favor of longing because you don't short the yearly support, especially not when it has proven to be a graveyard...
1D tight consolidation and broke above key level and EQ. Higher lows on good volume, currently retesting breakout. Good setup right here. Available on Binance (unleveraged) or Finex (up to x3 lev).
Mid range -> No trend Below 6100 -> Danger zone HTF close below 5700 -> Bearmarket continuation Above 7040 -> Positive HTF close above 7450 -> Bullish
Look at the $BTC 4H MACD. 36-line has acted as resistance and attempted support a lot over the last months. Watch the beautiful price confluence with the MACD reaction to the 36-line. Something I'll be watching!
Tighted daily Bollinger Bands width since Feb 2017. Here a few examples of what happened during and after squeezes.
Notice how the CME gap alligns with the 0.705 fib which is the Optimal Trade Entry (OTE). We use to fill the gaps.
Perfect touch on 6830 and rejected. Zones of interest here. 0.5 fib alligns with 6580 previous range high. 0.705 fib (OTE) alligns with strong support and CME gap. Not really looking for shorts here unless scalps.
Sell pressure is exhausting. I expect one more drop into our support zone that raids the previous lows and finished the 3 wave sell off. Lower timeframes already showing bullish divergences.
Broke down from the upward channel it has been travelling in and now looking for support in the first S/R range. Considering that September is a big month for Vechain I am pretty bullish here.
USD clean rejection from a well tested S/R zone. Stops taken as well. Positive sign for $BTC (due to inverse correlation).
- Stoch crossing up - MACD crossed and ticking green - Price trading just below massive weekly resistance zone - Last candle closed strong - Current candle has only ranged 220$ so far Circumstances are good, but decision is yet to make!
Watching closely here to see if ETH manages to break upwards from the bearpennant, just like most altcoins did.