Diamond bottoms reversal patterns start with broadening trendlines and then forms a symmetrical triangle. As long as the price stays within this pattern a reversal back up should be expected.
Diamonds are not only a girl’s best friend.
XRP has fallen back to support at around 2980-3000 satoshis where we can see the RSI on shorter time frames breaking out of it’s downtrend. The current price should provide a good entry as a move back to resistance around 3250 Satoshis is likely.
Algorand provided a great swing trade over the past 72 hours especially for those who held through the bitcoin dump last week. The gains off the bounce exceeded the bitcoin losses. Looks like a good place to take btc profits and see what algorand does from here. Bearish divergence on the rsi.
Revised short term bullish move from previous post early September.
Algo has completed a devastating 95% retracement since it’s ICO release on binance several months back. Looking at the RSI trend, we can see Algousdt is currently trying to break out of the downtrend over the past several weeks. I opened a long position during the crash yesterday at .195 on GDAX. We can see bullish divergence developing in the rsi on the Algo-USD...
Be careful if you are short and expect a similar move to the one last November. Notice the differences in the movement of the volume oscillator.
Here is a continuation of my idea posted at the end of August. Opened a long position earlier when the price wicked down to $1.45 on Coinbase Pro. More buy orders between $1.35 and $1.45. Bullish divergence is printing on the link-btc daily chart. Stop loss at $1.30. Take Profit 1: $1.90 Take Profit 2: $2.40 Time scale can again be disregarded. Short term setup
A weak bounce from this current higher low in price should produce a nasty bear flag and expect continuation to the downside. A lower low should have a better chance at forming a reversal zone.
This is just showing where I believe the price action will be moving short term and the time scale can be disregarded.
Waiting for the drop and support to hold in the green box then I will go long. Not financial advice, this is my plan. Make it yours at your own risk.
The Wink-btc pair is developing a strong support at 4 satoshis, and currently resisted at 5 satoshis. It is difficult to have an order filled at 4 sats, however I was able to fill an order equivalent to 4 sats by trading into wink through Bnb. The RSI is cooling off, and printed a hidden bullish divergence not long ago, turning oversold at 5 Sats. I’m anticipating...
The Green Box is the buy zone holding a tight stop loss below it. The Red box is my short term target. This is based on the 4-hour chart RSI oversold at the neckline and at a higher level at the head of the pattern, around $9500. This is my plan and not financial advice
USD-BTC pair wicked down on bittrex into the top of my buy zone from earlier trading idea post. This could be a preview of the short term bear target and if price holds in the box to form a higher low, the Inverse Head and shoulders pattern becomes more valid. I placed a big buy order at 10500 and was lucky enough to have it fill. Hoping to add more bitcoin in the...
Hello Traders, This is my first post and it’s not a TA. I have seen several comments from people arguing that bitcoin ETFs are not necessary. I would argue that they are needed in some places. We just have to think outside our “box.” Take Japan, for example. Japan has capital gains taxes on stocks at 10%, however, their cryptocurrency capital gains tax is a...