Based on some basic arithmetic analysis, I believe this correction is close to an end and that we will be seeing the start of a next leg up towards the 75-85k range (baring relevant events and news i.e China crackdown in May). This chart illustrates how I arrived to this.
I believe this is a key point for short term bitcoin trading. As we approach the downtrend line , will the buy power be enough to crack it and move towards the 9.8k~ zone? We'll see
Technicals (chart pattern): Instead of breaking the resistance, price seems to be forming a double top pattern. Only if we get confirmation and full formation of the pattern ( the 4th leg of the letter 'M' touching the lower red line) we could go through a new downtrend back to former support levels (in this situation, we would have to take volume into...
Price might be forming a double top pattern. If the pattern is consolidated (lower red line) this could be the start of a downtrend. Although, a small support was found amid the formation of the final leg of the pattern, so if that support can hold, the pattern might not be formed and the downtrend situation wouldn't be valid. Just reminding you that a double top...
NEO is flerting with the resistance line and if we break this level we could be heading to much higher prices. Indicators back the bullish movement. Keep an eye on this !
This coin has been experiencing a healthy rise in popularity due to its solid developing team, hybrid PoW and PoS mining, among other factors, and its showing strong resistance to downfalls unlike other cryptos. Keep in mind this is a coin I intend on investing long term, and am currently looking for good entry points to maximize profits in the future.
So what...
This pair seems to be inside a consolidation flag, and it could head two ways that I pointed out on the graphic. RSI shows that there's still room for growth in this market, and considering that BTC is currently going into a correction phase, it wouldn't surprise me if price breaks the downtrend line and heads towards resistance. The 1.12 dollar level could be a...
Price failed to bounce back from the support zone formed by SMA 100 and the uptrend line. It seems to me heading towards lower levels such as fibo 0.50 or 0.38 as shown in the chart. I would expect the zone formed by the intersection between SMA 150 and fibo 0.50 to be a strong resistance zone and a possible good entry level.
Price seems to have found resistence and RSI shows that the market is overbought. Conversely, DMI + and ADX show an uptrend . We could be looking at a retracement to fibo 0.50 which would allow short trades at 80 level and rebuy at 60.
Again, i'd like to point out that i've just started making charts and publishing ideas, so you'd probably be better off not following my ideas blindly ( I doubt anyone would anyway ).
So , in this chart, we can see that the price is bellow the downtrend line and trying to make a push across it. So let's look what our indicators have to say about this...
Here i've put my ideas on how to trade the NEO/USD pair. Keep in mind i'm an amateur trader who's been learning for a few months but just now started publishing. This is in fact my first published idea.
Anyway, here's my thoughts:
A resistence appears to be found at the 50$ level, and DMI, and MACD don't seem to show great upward trend. It is confirmed by ADX...
