I am interested in BBBY
I've used 3 timeframes for overall analysis.
Current Price: $20.05
Current Support: $18.70, $16.40
Current Resistance: $20.80, 23.80, 26.25, 30.60
Observation of each #frame:
1. Monthly frame:
- Respected the support at $16.40
- Out of Curved channel resistance to sideway.
- Volume shows increasing quantity for the last 12 months....
I feel comfortable with yesterday’s, 25th June, #volume of #bitcoin futures. As shown, contracts expires Fri. 29th and this is where most likely distribution would happen the most. The down trend started early May and #technically at boundary of wedge. So far, gives more odds to the upside within 10-days trading at most.
70% UP (Breakout of 6350, spot price)
Until now, Day trading of #futures $btc1! with the #volume associated looking reversal. But need more time to be validated. We need to see spot market #BTCUSD breakout continues to new highs with other major #cryptocurrency.
Note that: #RSI Breakout is valid positive signal
Observing where the #BTCUSD is likely to bottom. The wedge in the chart shown maybe diverted to be something totally different in the coming couple of months. For now, however, the support and resistance boundry lines are valid till proven otherwise. current support zone 5,500 - 6000 but no #entry should be made before #downtrend confirmed turnaround.
Positive Reversal on Daily.
Weekly is positive.
Volume is above 50day-avg
Valid 3T VCP -0.24% (Mark Minervini Concept).
$CGC is a licensed producer of medical marijuana 0.00% in Canada.
Drug Manufacturer - speciality 6.34% (HealthCare)
#Entry at breakout of $36.00 with volume on daily frame.
Stop at $33.33 (or -8%)
On chart is shown a partial of circular support and resistance purple-colored lines.
Support at 6650 and 6550
Resistance at 6850 and 7200
PR1 trgt = 6605 (reached) (=strong signal) -- further uptrending momentum is likely - failing more than 2 PR failures.
PR2 trgt = 7034.51 (Not yet reached) -- needs more time till proven failed (=avg strength signal...
#Entry #Signal (Up-trend) based on:
A) Frame 1H (couple of #NR has failed)
1. Breakout of the trendline at $6,650
2. Volume > 50d Avg.
3. RSI > 60
4. Positive MAs vs Close
5. Positive RSI MAs
6. Positive Reversal (Target Achieved)
Position size: 40%
Entry Price: $6550
Stop Loss (Technical Based): ~ $6,300
B) Frame 4H and above
Not yet confirmed.
Its likely for the #BTC and other coins to #down #trend or at least keep sideway for sometime. As a trend following trader, We should not be looking for the dip to buy as it wont be a low risk entry point, espcially when #volume could be a misleading parameter for lower timeframes.
With some #technical #analysis grounds, proper #entry should be made when...
#XRP is more likely to keep #down #trending in correlation with #bitcoin. #RSI within a decsending #channel. There is likely a pullback along the way which would make RSI reach around 40 to 50 level. However, in the 4H & 6H frames, it is more likely for further #bearish move starting by breakout of $0.560. The Moving Average supports the descending. Additionally,...
#BTC #futures chart. A 12H frame shows the #chart #pattern of ascending #wedge within a big descending wedge. A continuation patter. Additionally, #NR is clearly obvious in RSI and #Composite index. Daily frame, RSImavg is forming a resistance. Odds are #down run for the next few day to couple of weeks.