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ADA/USDT 1DInterval Resistance and SupportHello everyone, let's look at the ADA vs USDT chart on a single day timeframe. As you can see, the price is moving below the local downtrend line. Let's start with setting the support line and as you can see the first support in the near future is $0.30, if the support is broken then we can see a strong drop in the price around $0.21. Now let's move to the resistance line, as you can see the first resistance is $0.34, if you break it, the next resistance will be $0.36, then you have a resistance zone of $0.38 to $0.39, then resistance at 0 $42. Looking at the CHOP indicator, we see that the energy has been used, the MACD indicates that we are in a downtrend, while the RSI has crossed the lower limit of the range, which could potentially result in an uptrend reversal.
by cryptodailyuk
BTCUSDT Daily : Finally 25500 touchedHi Guys , Hope you well Dear traders, as I said in the previous analysis, the price dropped almost heavily with the news about the complaint against the Binance exchange. Now I expect the price to swing down to the green box. I remember that according to the news, the price can stay in this box for a long time and I expect it to move towards $32,000. SecondChanceCrypto ⏰6/JUNE/23 ⛔️DYOR Always do your research . If you have any questions, you can write them in the comments below.and I will answer them. And please don't forget to support this idea with your likes and comments. Please Join our free channel in bio.
Short
by Secondchancecrypto
True Strength Index: Mastering Trend StrengthThe True Strength Index (TSI) is a powerful momentum oscillator that enables traders to identify potential trade opportunities by measuring the strength of a trend. This unique indicator is based on double-smoothed price changes, providing a more accurate representation of momentum in its truest form . In this blog post, we will delve into the world of TSI, exploring its uses, applications in trading strategies, and how it can be combined with other indicators to enhance its signals. What is the TSI Indicator? The TSI is a technical analysis tool that captures the ebbs and flows of price action by smoothing price changes, filtering out the noise, and producing a steadier line. The calculation of TSI consists of three key components: the double-smoothed price change, the double-smoothed absolute price change, and the TSI formula itself. As a momentum oscillator, TSI generates trade signals based on overbought/oversold levels, crossovers, and divergences. The TSI itself consists of three parts: the TSI line, the signal line, and a zero line. How is the TSI Indicator Used? Professional traders use the TSI indicator to gauge the strength of a trend, assisting with trade management and providing early indications of a trend continuation or reversal. The TSI oscillates between 100 and -100, with bullish and bearish trends indicated by crossings above or below the zero line, respectively. This versatile indicator can be used to hold onto winning trades, anticipate impending trend changes, and identify trend shifts through divergences. Examples of TSI in Trading Strategies TSI and Moving Averages: A widely-used approach integrates the True Strength Index (TSI) with moving averages, such as the 50-day moving average, to substantiate the potency of a trend. For example, assume the TSI value surpasses the zero line, while concurrently, the stock price is higher than its 50-day moving average. In this case, it may suggest the onset of a promising bullish trend. On the other hand, if the TSI dips below the zero line at the same time the stock price falls below its 50-day moving average, this could signify the emergence of a bearish trend. TSI Divergence: Divergence occurs when the price and the TSI indicator move in opposite directions. For example, if the price makes a higher high, but the TSI forms a lower high, it could signal a bearish divergence, indicating a potential trend reversal. Similarly, a bullish divergence occurs when the price makes a lower low, but the TSI forms a higher low, suggesting a possible trend change. TSI and RSI: Combining the TSI with the Relative Strength Index (RSI) can help traders identify overbought or oversold conditions in the market. When both the TSI and RSI reach extreme levels, it may signal a potential reversal. For example, if the TSI is above 70 and the RSI is above 30, it could indicate overbought conditions and a potential bearish reversal may be imminent. Divergences can also be confirmed by comparing the divergences on the TSI to the divergences on the RSI. Conclusion: The True Strength Index (TSI) is an invaluable tool for traders looking to gauge the strength of a trend and identify potential trade opportunities. By understanding its uses and incorporating it into trading strategies alongside other indicators, traders can enhance their decision-making process and improve their overall trading performance. If you like our educational content don't forget to give us a boost and a follow!
Education
by LeafAlgo
Cardano(ADA) is going to see 2$ after breakout!!Hi dear followers and visitors, ADA is moving in a Triangle Pattern in daily timeframe and I think it will broke from the upside! Why Upside? According to bitcoin's bounce back and breakout in daily chart(Same condition), I think ADA will breakout from the upside and after breakout it would see 2$ again! See my analysis on BTC too(I think 42K will be broken this time!) Please Push Like button and Write your comment to support me. GOOD LUCK
Long
by TahaZargar
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