BTC has been trading in this channel for quite some time now. Last 4 trading days have been testing the upper channel and has been getting rejected. We are making new highs on the dailies which is a positive but we need to break out of it or threat of testing the bottom of the channel comes into play as RSI is testing lower end of its channel.
Broke out of triangle and retested the breakout, fell back into the triangle and managed to close at support. Just need volume at this point and BTC to behave.
Breakout above $2.93 and we test/ break through $3 or break through $2.86 and we may see a retest of $2.80. Move really depends on how BTC reacts above 9450. LINKBTC pair also consolidating in 30k SAT range as 31K failed. Move imminent and I am long since $2.75. This is what I am seeing on the charts not financial advice. Risk reward 2:1 if stop is set at $2.85 USDT.
Per the chart you can see a breakout from triangle on the 4hr chart. Lower wicks of the following candles have approached tests of the breakout have bounced near the top-line. I expect LINK to trade above it with moves going back towards $2.00 or 21200 Sats. A trading range around 19200-22000 sats is what I am expecting before continuing price discovery. Trading...
Here on the hourly after main net announcement, we have reached some consolidation with some selling pressure. This has created a triangle that is now at the end and is imminent for a move. Binance, is the leading exchange in terms of volume for LINK and will be back up for trade in the coming hours. I am expecting a lot of volatility at the open with new deposits...
Taking a look at the 4 hour chart RSI is at short term support with BTC in a narrow trading range. A bounce off neutral RSI should allow bulls to test the triangle and break towards $8500. A break down of RSI would send BTC to next support level of around $7500 and cause an inflow to alts.
The 4hr has gone parabolic with MACD Over extending and RSI approaching heavily over bought levels that have proven to be a strong resistance. BTC has followed the curve but has extended to far too fast. Expecting a retest of 6500-6700.
BTC has cleared its first resistance and id clear sky till $7300 which was the breakdown towards bear market lows. RSI is approaching its peak so a re-test of around 6300 should clear the way for a breakout towards $7000.
As you can see the symmetrical triangle formation on the daily; ChainLink can be expected to break out in the coming days. MACD has flipped which has signaled an end to the selling pressure. Bears were unable to break through support of the triangle which signals a possible breakup rather than a breakdown. Resistance at the orange line which is the moving average...
XRP is approaching its long term downtrend line and allows a breakout to 41 cents if it can clear down trend last set at ATH and confirmed with tests that were unable to break through. Is third times the charm? With coinbase news, great volume, and new possible money inflows with Coinbase pro I think a break out is possible. RSI not near overbought and allows or a...
Per my previous post I showed how BTC has approached a resistance with RSI over 70 and historically does not break past mid 70s usually. RSI is now bach in neutral territory and opens the door for either a break down or a tight trading range until we reach towards the end of the small pennant around end of February and very early March.
Daily candle wick broke through resistance and immediately fell back in a range between $4170-$4100. RSI in mid 70s in Overbought territory and has always followed with a sell off as BTC rarely breaks past 80 on the RSI. Support at the short term trend line should hold and allow RSI to cool before breaking out of pennant on towards $4500.
