I looked at the long history chart for this one...
-Bearish engulfing pattern
-Hidden divergence on Stoch RSI
-MACD is wide and increasing just about to turn.
We are waiting for MACD, but there are a few pullback scenarios here at $7600 area and $7100 area. Watch those key areas.
Key technical supports hit.
Pennant triangle forming on the weekly. Will squeeze to the upside.
5 count on the DM indicator for the downside (of 9 total), if the counts play out that is.
Stoch RSI underbought
Always view SolarCoin with respect to what is happening in BTC. Because BTC is the dominant force that indirectly affects SLR technical....
ETC is approaching a previous support after a small bull run.
If it breaks through that resistance and Stoch RSI and MACD crosses confirm, we are going to look for a good entry point for a LONG.
Monitoring carefully in the next 2 days.
SLR has been below Key Support for a while.
Recently there has been news of the BTC Energy crisis, and mining centralization problems in BTC.
Proof-of-stake coins will benefit, and not only is SLR POS, it is Proof-of-stake (POS) and Proof-of-Generation (POG) for 1MWh = 1SLR.
So, if SLR does break up above the key support (0.00008 BTC) and consolidate, we have a...
1) Epoch 25 and history of monthly pumps.
2) BTC is in full bull mode but EMC2 is surviving, it will also catch up with other ALTS.
3) DeMark TA is showing a 5 count on the upside so this means possibly up to 3-4 weeks of bullish count ahead. The value is above 0.7 for some weeks now.
The DeMark Indicator is showing a 5 count on the downside.
There are some key BTC supports shown on the green lines.
BTC is currently in full bull mode against USD. So, when the calm from the upwave returns, ALTS usually take some time to catch up the BTC upwave. So I am expecting some more support to be hit for PIVX in the short term, but then continuation into...
Demark combo implemented for the SLR/BTC pair. It is a sequential indicator.
Best to use the sequential indicator with a 4 hour chart (because BTC markets are 24-7 markets), and also a 1 week chart.
TomDemark Combo indicator implemented for Trading View.