BTC at around $28,700 area right below what used to be a strong support level at $29,000. BTC has tried 3 times to go over $30k but it has failed to break substantially above it forming a wedge pattern. The 200ema is above the 50ema and below that the 20ema, signaling bearish momentum. The most likely scenario is that we go back down to that $27k area before we...
On the daily BTC is sending contradicting signals. On the bearish scope, a bear flag pattern has formed which is a reliable signal that the trend will continue downward. But as the flag pattern formed there is also a falling wedge formation which is a very bullish signal, about 63% of the time the market trends upwards. We most take into consideration, inflation,...
Ape coin has been around for about a month and a half but Bored Ape Yacht Club and Mutant Apes have been around for over a year, but some how APE COIN has amassed a 6.3 billion market cap to become the largest metaverse coin, surpassing the likes of SAND, MANA and AXS. Why do you think it is? Well my opinion is simple, currently the floor price for these NFT's is...
This is a perfect example of the market sometimes not going your way. I shorted on the first bearish flag thinking of course that this is one of the strongest indicators of market direction and I got burned (lost a little money). My mistake: Not looking for other signals. In this case the 20ema crossed over 50ema sending the price up. Sometimes you have to look at...
A possible bearish flag pattern backed up by the 20ma crossing below the 50ma. Also the NZDUSD pair has been in a steady decline. I currently shorted the pair. We must keep in mind it has been oversold according to the RSI, so there may be some short term upside.
A possible double top that may lead to a bearish reversal sending the EUR down. Around 75% of the time double tops lead to bearish movements and about 83% of the time they break the neckline. Usually strong bullish moves leading to the second peak force a strong downward movement. Looking at the 4hr chart the trend is moving down with the 20 moving average...
Support is holding for the time being. If support breaks far below it can be a steep drop for those who bought or a sweet ride downhill for those who sold.
