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CTSI breakout-retest of key-area // Continuation soon?$CTSI has been moving quite a lot lately and has been making strong moves in the market. It started with a simple higher timeframe falling wedge, which we once mentioned a few weeks ago. It started breaking out and moving to the upside quickly. It is most important to state that this move led the market and not just caused by the upwards moving market. This clearly indicates a strong potential base of buyers and investors interested in this asset's low prices. After breaking above the key-area of resistance, it went for a small consolidation period and made its final push to the next key-level above, which was the final stop for this successful swing. Currently, CTSI has retraced back into the broken key-area of resistance and is consolidating there. Should a strong move to the upside happen soon, it will take a successful S/R flip, enabling the next higher swing for it. Looking at technical indicators such as the MKAST Algorithm, one can clearly identify a bearish condition, which has been going on for quite a while now. It is fully understandable since there were no strong breakouts or impulsive moves to the upside after the rejection. Nevertheless, it could be switching to a bullish condition very soon again. The MKAST Index is surprisingly low and at 0/15 points, which is marking a clearly oversold condition. Such a strong indication of the Index at a key-area, which is about to be turned into support, is absolutely the best scenario this asset could have. The downside seems very limited, and the upside practically unlimited. A D1 close below 0.03550 would invalidate the bullish bias.
Long
by KongTrading
BNBUSDT (Ascending Triangle formation)BNBUSDT (4H CHART) Technical Analysis Update Ascending Triangle BNB/USDT currently trading at $28.50 Long Entry: After Ascending Triangle Breakout in 4h chart( only enter long after 4-hour candle close above the resistance level at $28.75 STOP LOSS ( support): I will update once Breakout happened Resistance level 1(Target) : $31.00 Resistance Level 2(Target): $34.00 Max Leverage: 5X ALWAYS KEEP STOP LOSS... Follow our Tradingview Account for more Technical Analysis Update, | Like, Share and Comment your thoughts
Long
by GreenCryptoTrades
4
BTCUSDT - Symmetrical triangleSo far, we have seen two triangle patterns: one from an uptrend and bullish market move and one from a downtrend with a decidedly bearish look. Symmetrical triangles, on the other hand, are thought of as continuation patterns developed in markets that are, for the most part, aimless in direction. The market seems listless in its direction. The supply and demand, therefore, seem to be one and the same. During this period of indecision, the highs and the lows seem to come together in the point of the triangle with virtually no significant volume. Investors just don't know what position to take. However, when the investors do figure out which way to take the issue, it heads north or south with big volume in comparison to that of the indecisive days and/or weeks leading up to the breakout. Nine times out of 10, the breakout will occur in the direction of the existing trend. But, if you are looking for an entry point following a symmetrical triangle, jump into the fray at the breakout point. Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU. P.S. I personally will open entry if the price will show it according to my strategy. Always make your analysis before a trade
Long
by Yuriy_Bishko
12