- Comparison with 2016
- Support levels on weekly and above time frame
- Bbands squeezing on weekly
- Bull div
- Falling wedge
- Reversal on 1h time frame yesterday
- Bullish engulfing and good volume on daily tf
- 0.008 is resistance so it may take few days of consolidation and another dip before any major breakout
Not a Financial Advice. Have marked two long...
Consideration (Indicators): Ichimoku, Bbands, Smoothed moving averages 50-100-200, Volume, sRSI
Along with analysis my gut feeling says price might go near 8k from a local bottom here and still continue the downtrend to make a new bottom in coming weeks.
This is not a financial advice and just my observation. I hope my analysis helps you in some way.
I would place my bids from 7750 to 7200 scaled in increasing order and long here, has good risk/reward
That falling wedge, order blocks, fibs, over bearishness in market etc. aligns together for a short term bounce here
Might add more if it dips to 6800-7000
Dont rely on this alone in my opinion you should also check 6h,12h,1d,3d and weekly ichimoku with bbands to get an idea of where exactly the huge resistance levels are and trade accordingly
3day and weekly candle closes today in about 9 hours from now
Scale orders between 10300 to 10600
Take some profit near 11-11.1k and keep the rest open
Use bitmex scaler to scale your buy orders accordignly chrome.google.com
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'Corn' already broke out on hourly and looks good for breaking the 11.3k resistance, this can be a risky trade however if someone is going long here Target 1 should be 11.3k and Target 2: 11.7k
I am expecting a dip once it hits 11.6-11.7k resistance and if the 11.3k or 11k support holds followed by a bounce we might see the biggest breakout we all have been...
For now, I think it has potential to pump more in next few days and good time to take profits for those who bought/longed it earlier. Will look at the charts on Monday after weekly close to evaluate/analyze if there is a good short setup possible for short term
If I ignore the volume and chart based on fractal and RSI, then the below chart also makes sense....
Based on the channel you can see in the chart and fibs, I had this idea from last few weeks and it was one of the reasons I was catching the falling knives few days back when ETHBTC had dropped below 0.08, this chart needs no explanation and its clear based on what I have drawn that squiggle
Target 1: 1.618 fib for long position
Target 2: Short it to 0.382 or...
4h time frame:
Tenkan - 10360
Kijun - 9487
Daily time frame:
Tenkan - 11666
Kumo edge - 11690
Weekly time frame:
Kijun - 10313
Today's daily close is also the time at which weekly candle closes, bulls will try hard to close it above kijun (10300)
Go long, scale your buy order properly, buy more at lower prices.