Short term bounce for a cup and handle setup in XVG. Be aware if BTC is tanking the trade may not work entirely.
If you want an early bird entry 1235 to 1250 is a very good entry if the price is pooling back to Tenkan Sen level which is 1235. Now it can go lower if both Tenkan Sena and Kijun Sen stay flat but the risk to reward is of course greater.
A safer trade ...
In a bear market potential good news is like wining to lottery, or something like that. Could we hope that the forming falling wedge is going to push for a reversal in BTC? I noticed in some exchanges that some big money slowly are buying into this market, maybe in anticipation of the falling wedge. It could be the beginning of a re-bounce in BTC. ...
One possible scenario: We can go lower with the wave A correction so the ABC could change a little. On a 4 hour time frame we have a nice rejection bar which could convince the market that is time for a bounce upwards. The sell off has slowed down and we should expect some buyers stepping in.
Is BTC in a bad mood or what is going on? The ...
Here is a potential good trade which has very good risk/reward ratio. On a daily time frame we'h got a big gap between Tenkan-Sen and Kijun-Sen forming a sea clamp(if you know a little about Ichimoku) that is eventually going to bounce upwards, could be in a matter of hours. The volume is increasing, look for the green arrow, The DMI and RSI is ...
With BTC -0.41% apparently in a bullish trend is time to plan for long positions in alts and also because POWR is one of my favorite and most traded coin.
POWR is not at its most attractive price(the best entrance was between 6000 and 6500) but on a long perspective I see it at least 2:1 ratio reward even if you choose to buy in now.
When taking ...
It has been a while since my last post, now with BTC apparently in a bullish trend is time to plan for long positions in alts.
Verge is still at a very attractive price and one possible long perspective is depicted into above chart using Elliott waves. When taking long position I use daily time frame when possible because it give me the best ...
I'm throwing out there my ideas about the next move of bitcoin. So far pretty much everything that happened with BTC price is normal healthy correction of an insane up trend.
I want to mentioned that this is a conservative prediction, I didn't add any hypes around which could deviate the price with +- x%.
It looks like the correction is done for now, we'h got a falling wedge or huge flag pattern formation or whatever you want to call it with huge potential for upside. The RSI, MACD and DMI support long trade on 4h chart.
Buy: around 0.45
Targets are: 0.90, 1.05, 1.25
This market finished its correction and now is heading for the 5th wave. We got a failing wedge with potential breakout soon. All the info are on the charts, just saying that RSI, MACD and DMI support a long trade. More info once it breaks out.
We are about to have a falling wedge breakout at around 400. The RSI is pointing upwards, DMI and MACD support upwards movement.
Please be aware: at the kumo breakout at 400 there is a selling wall at 390 and 400, you can get in at those points but be prepare for the price to retest the could support again (very likely this will happen).
This is one of my favorite coins but I hate saying that is following BTC movement very much, not surprise I know but I wish it doesn't like for example NEO and Ripple.
Anyway going back to the chart and what is telling us. For the moment the signings are still pretty bearish to me but there is hope of course if BTC goes up ;).
The RSI, MACD and DMI ...
The reason I said is not too late to get in this trade: we tested the support at 17300, we might get another retest of the cloud which would be a good entry point(the reason for that is that Kijun Sen is still inside the cloud and there is a possibility of ranging which will take the price to the upper boundary of cloud support). The DMI, MACD and ...
Based on 2h chart Ichimoku give us green light, DMI and MACD is supporting a long trade. The RSI still has room to go up till oversold.
Target around 350 - 380. Entry 225 - 235. Stop below the triangle.
The volume has deceased which indicates a move is about to happen, the handle is confirmed with RSI positive ready to go up. MACD is also supporting up trend movement. Positive signals from ichimoku as well.
Buy: $52 - $52.50
Stop loss: 45.50