This would be quite a nice zone to set long, I want to see sudden spike down, to confirm the 9th bearish candle, those often test the previous LL of the 6th and 7th candles.
I am using support of a 100 EMA as my level, where I expect the price to bounce. SL is set for 8700 (under the red dashed line)
What if the correction was needed?
What if the price spiked way to much way to fast?
What if this sets the ground for the overbought indicators to chill down?
What if Smart money took profits on "graveyard doji" just to buy at cheaper levels.
What if the bull trend which we saw at LTC due to the halving was just a precurse to the start of true bull...
What does this chart clearly tell you? Broken triangle, rejection from 100 EMA, bearish price action, tight bollinger.
I'd go short with stoploss above the purple line. We should bounce from 200 EMA, if we blast trough, then we are going to retest the 4700 and 3500 lvl.
Keep it simple. Keep it clear.
The spread between Finex and other exchanges is bad sign aswell.
My motto is "keep it simple"!
What do you see when you look at the chart? You can see that the price get rejected from the purple horizontal line (resistance) and its trading within a ascending triangle. This is a bullish sign, as it shows that the bulls are still in the market, however, there could be easily done some manipulation and long squeeze.
As we could clearly seen, the price tested the purple line of resistance but bounce from it to the south, we seen sudden dump in price which stoped at first fib level. Analysis goes exactly as planned, now we could see few days long move to the side, the next week candle will tell us if we finish the Morning star formation on weekly chart which will form on...
I see rising wedge, in combination with overbought RSI and decreasing volume. This means that the sentiment might be moving from euphorie from last week pump to more sudden reality. I think we have to retest the 4800 mark from the top to trully confirm that this is the end of crypto winter and start of the crypto spring and possibly new bull trend.
If the price...
I see ascending triangle, bounce from minor support in addition with overal capitulation in the market. I believe, that if ETF proposal will be settled (29. february) then we could see potencial start of a bull run.
I dont like the hanging man candle formation which could turn the trend back to bearish. The analysis will be invalided, if we dont break trough the...
I think the analysis speak for it self, we predicted that the retest of 3000 level will be necessary to confirm any incoming bull run. If we managed to bounce from 2800-3000 level, then its a strong bullish sign.
My prediction is, that because of low volume and not enough buying demand in combination with overbought RSI on 1D and unsuccesful break of 0.328 fibo, there is a fair possibility that XMR will go lower in price with USD.
This could be a nice oportunity to buy some more Monero, around 37$. If we managed to stay above 0.50 fibo line, then the analysis is invalid.
There has been really nice bounce and price is now testing the sideways resistance, if we break out and we manage to stay two 1D candless above the sideway line, then we could see rally to the first resistance (yellow line).
If we break more down, then we could see indices that Bitcoin is going to retest the 3.100 USD price.
The market is highly manipulated,...