About meTry, analyze, adjust, repeat. Manage risk, set stops, and enjoy the ride! Not, in any way, here to give financial advice. I use this platform as a trading journal to help formulate plans and keep myself on track!
Don't forget to watch this pair. Previous #NuCypher / $USD failed breakouts were always preceded by failed breakouts of the daily 50 EMA on $BTC. We're currently attempting a breakout now. Confirm this and I'd expect a reversal back into bullish territory 🤞
Neutral until this is confirmed.
The trend line mixed with the pesky $0.80 resistance price makes me believe we'll need few more days of consolidation before moving up. I expect we'll see one more bounce off of this trend line but honestly won't be mad if we break it here.
The price is respecting the 1 hour and 4 hour 50/200 EMA more than it is the bottom trend line of the upward channel. If the EMA lines mixed with the next support level doesn't hold, I will be picking some more up just above the $0.50. If this week proves to be as bullish as everyone is hoping it will be, I'll be entering back in after $0.80-$0.90 flips from...
Another potential path to reaching and breaching $1. We may be on the final leg of repeating this pattern with a good chance of it breaking down around $0.90 to $1.00 due to the number of individuals most likely looking for $1.00 as a target to take-profit. If the current trend breaks down, we'll head towards $0.70 again for another retest of the previous high...
If we don't head to $1 first, we'll at least head back down to the previous ATH around 0.70 to see if the previous resistance has flipped to support. After that, we could rocket straight to $1 and beyond, do a rising triangle, do a falling triangle to another week of sideways (which $NU loves to do). Maybe even drop to $0 in the next ten minutes. Who knows?!
Based on previous pops NU may see some more "sideways" from here, granted the current sideways has shown a 20% increase in price over the past 5 days. Let's see if we get another pop within the next few hours. Strap your seatbelt on and be prepared for either direction.
My short call is strictly based on the descending triangle, nothing else. There are quite a few fundamentals that could hold the line and push the price further. If the descending triangle breaks NU may fall back down for a very short ride to retest the previous ATH, or even lower.
If this current XLM run doesn't bust through the trend line and successfully turn 0.35 into support we will make a short run back down to 0.32-0.33 where I plan to pick some up after confirming a successful bounce and not a further decline. Just a guess. I'm not a professional in any way so read this with caution. DYOR, manage risk, and enjoy the ride!
We're coming up on the top of the previous channel. The election was just called in favor of Biden. I would have more confidence in calling a long here but election jitters might break us back into the previous channel for a lower bounce.
There is a bearish divergence on the daily & 4 hour RSI. The last time we saw a 4 hour divergence matched with a bounce on the 50 EMA line we saw a continuation downwards. We are also pushing up towards a very strong resistance line. I suspect either a break of the EMA heading towards a bounce around $12.4k or some more time bouncing between the EMA and the...
4 Hour RSI is showing a bearish divergence but recent days have proven the RSI indicators on both 1 and 4 hour to be untrustworthy. Getting through or bouncing off of 13900 with enough momentum to break 14000 within the next day or so will tell whether this bull run will continue, or if we will slip into bear territory. Manage risk, set stops, and enjoy the ride!