Huge triangle in XEM. Further down grind or breakout to test VPOC and HVN. Low volume node as support to bounce off.
LTC broke out of the triangle to the downside providing a opportunity to go short at this point. Entry: 52.2$ Target 1: 45.5$ Target 2: 42.2$ Stop: 56.6$ Risk/Reward: 1.4 (only target 1 considered)
XRP building a triangle with potential breakout to the upside. Entry @ 0.21100 Target @ 0.22855 Stop @ 0.20600 Risk/Reward = 3.13
STEEMUSD broke out of downward trendline with significant volume. Swing setup possible at retracement.
Ascending Triangle Entry: 4150$ Target 1: 3660$ Target 2: 3390$ Stop: 4400$ Risk/Reward Ratio: 1.75
Is it only me or can you also see the similarities between these two rallies? Not only how it tested the top and then failed into a downtrend, but also how the downtrend was broken. Not to mention the Volume Profile with the VPOC on the top.
Continues upshift of the Volume Point of Control (VPOC) is signalising the acceptance of higher prices. If the current flag pattern upshifts the VPOC again it would mean the market likes the higher prices and it's time to move on to new highs testing the levels at 324$ and higher. If we break out to the lover wide the stop of this long trade would be at 290$ and 280$.
Different targets and two scenarios are shown based on the Volume Profile of Ethereum since the start of the rally. Scenario 1 is more sustainable and the probability is higher. There we are looking for a pullback to 260$ area and then the continuation of the rally. Scenario 2 would be if the moves to the upside continues with this momentum we will see 358$ soon.