As we expected, the "SLP" went uphill after reaching the bottom of the channel and went to the top of the channel.
It managed to break the important resistance of 0.135. Now we have to see if it can get out of its downward channel or not?
I'm optimistic about it
Let's see ...
As you can see in the chart, "SLP" is in a descending channel. But according to the very low "RSI", the trend will change soon and it will start to rise. I think it can reach the top of the channel at least.
Of course there is a possibility that it will fall to the bottom of the canal and start rising from there. But the probability seems very low.
As we had in the previous analysis, the price is still in the downtrend channe And is fluctuating above the midline of the channel.
I see a downward curve in both the chart and the RSI. It seems that the sales pressure is still higher than the purchase and we are in the path of the previous analysis.
What I see in the chart is a descending channel.
There is also a beautiful triangle that we are approaching to the end of that.
Due to the small volume of transactions, we will probably be involved in the game of whales. In this way, they first raise the price and then go hunting for "Stop Losses" with a free fall.
So in the short term, be careful of price rises...
Given the ongoing Downtrend in the "RSI", As I said in Previous Analyzes, The Downtrend of "BITCOIN" doesn't seem to be over.
In my Opinion, The Possible Scenario at the moment is the formation of a Head and Shoulder Pattern, which can be fully Traced in Daily or 4hour Timeframes.
As you can see on the chart, Each peak in the "RSI" is lower than the previous peak. And unfortunately this is not a good sign at all.
Take care of your money and do not take risks.
For now, the best thing to do is to wait and see if this fall will finally happen or not.
As you can see in the chart, after the breaking up the triangle and the pullback, "data" still continues its upward trend.
Targets 1 and 2 were beautifully touched.
The third target will be available soon. And of course, with a little more time, we get to the fourth.
As you can see, the price is enclosed in a triangle.
Targets and stoploss are marked on the chart.
Given the current market situation, this could be a risky position, but the risk-to-reward ratio is excellent.
It is better to enter the buying position after the upward breakout and pullback to the broken trend line.
We will have some beautiful arcs in the chart that I will tell you about each of them at the right time.
Have the first one for now:
It can be a clean cup and handle.
After a catastrophic period due to the fall of Bitcoin, the market is back on track and Like the phoenix, shiba is reborn from the ashes of the previous fire.
As you can see in the chart, Bitcoin is stuck in a downtrend channel.
In my opinion, the most probable event is the yellow path. Because: As I said in the previous analysis (Related Link), there is a big uptrend channel, and the blue line is strongly supported as its bottom.
Possibility 2 - Green: If Bitcoin manages to break its current downtrend channel....
Just look at the chart in March 2020
Learn from history.
Big guys always use the fear of the smaller ones and buy from them at the deep. So Be careful! Do not fall into their trap.
Pay attention to the volumes that I specified for you.
So be patient for a while, my friends.
Now I come across an interesting case that caught my eye.
This can be another beautiful ascending arc. (look at the attached charts)
Just like the last time (to infinitely and beyond & Shiba on the arch).
I will attach the previous analyzes to remind you.
I would like you to write your opinion in comments
Let's go back to our previous analysis (Wink is blinking)
As you can see, the orange trend line was broken beautifully, with enough strength.
two down, one to go.
There are a few small resistances in the way, but Wink is determined to break the third resistance as well
As you can see in the chart, after a good ascent and proper correction, it reached to the bottom of its ascending channel and was able to break the trend line upwards.
Due to the good power that can be seen in its ascenting, it can be expected to reach at least to the middle of the channel.
As I said in the previous analysis, Cardano is going strong and our first target was Touched.
Even against the general trend of the market, it was able to continue to climb. Slow and steady.
It will soon cross this resistance level and even the $ 3 and $ 3.4 targets will not be unexpected. Let's see what happens.
As you can see in the chart, Wink was able to break the first trend line (the yellow one) successfully and is approaching to the second one (the orange one).
In case of breaking of the second trend line and pullback to it, it can be a good point to enter and buy.
And in case of breacking of the third trend line (the red one), it can move to its ATH again.