We are currently testing support on the 42xx level, if we close below this on the daily the likely scenarios are given in the chart.
Given the macro is looking bad, the overall investment sentiments around all asset classes are negative and there is global sell off across all asset classes globally. Bitcoin cannot escape the ambit of overall investor sentiments....
I am bullish on this for three reasons:
1) A close above ascending triangle with a decent volume and a close above it signals a good upside run from here.
2) Price increase with an increasing open interest indicates a long build up
3) A gap open a few days ago which hasn't been tested.
Ascending Triangle formation in Bank of baroda makes it bullish. The volume is good and a break above 118.75 could see an accelerated run towards 146 levels.
You can open positions now or wait for it to hit the trendline and bounce for confirmation.
Unless we get some great news here, this stock is gonna go in a long downtrend if we break the neckline/support at 105.5.
1) Head and Shoulder signalling trend reversal from bullish to bearish.
2) Descending triangle signalling bearish pattern.
My previous idea had a target of 116-118, which we might not reach. I am going to close my long trades here and will...
Bounced off the current levels four times before making it a strong support, in a short term downtrend forming a descending triangle. Could see narrow range in the coming few days before it breaks out of the triangle. I would place my buy here and next buy at 100. A huge upside potential, a break upward from the triangle could start a new rally and we could see...
The price touched the trendline and retraced as was expected owing to overbought RSI. A higher low here and bounce from the 80 levels to retest the trendline would be early signals of trend reversal. Wait for a bounce to start accumulating or you could also wait for a close above the trendline for trend reversal confirmation. It tested the trendlineline after a...