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XLMBTC Low Volume Breakout Imminent Hello Traders! Today’s chart update will be on the XLM/BTC pairing which is in an interesting position, testing current local support with volume well below average, a break out move may be probable… Points to consider, - Trend bullish, probable of new higher low - Price testing structural support - .50 Fibonacci acting as resistance - RSI neutral - Stochastics showing upwards momentum - VPVR showing decreasing transactions - Volume decreasing rapidly - EMA’s giving price resistance XLM has had an insane bull move that corrected all the way down to the .786 Fibonacci level before retracing and trading in the now current rage. The trend is overall bullish as we do have consecutive higher lows in place; however this is in a parabolic manner. Price is testing structural support, previous resistance; a break of this area will be quite bearish as market structure will then not be putting in a new higher high. Local resistance is at .50 Fibonacci level that needs to break upon respect of current support. If this level is broken then a test of the local highs will be more probable. The RSI is quite neutral at current given time, it can break in any direction, really depends on the next move of XLM. The stochastics currently is projected upwards, we still have room for further upside potential. The VPVR is interesting, showing us that the volume of transactions is decreasing on both ends, bullish and or bearish; the next move has a high degree of probability of being a flush move. Furthermore the volume itself is declining rapidly, telling us that a breakout is imminent in the near future. The EMA’s are currently giving price resistance, is price fails to break the EMA’s then XLM will not put in a new higher high, the bullish market structure will no longer be in place… What are your thoughts on XLM, is a breakout move imminent due to declining volume? Please leave a like and comment And remember, “Hope is bogus emotion that only costs you money.” – Jim Cramer
by The_Alchemist_Trader_
BTCUSD Critical Point | 200 MA | Oversold Bounce Hello Traders! Hope you all had a great weekend, Update on BTC recent developments on the daily chart , at a very critical point, trading below the 200 Moving Average, we need it to break and stay above this level to keep a bullish bias. Points to consider, - Daily trend bearish - Price testing structural resistance - Price below key moving average - Stochastics in lower region - RSI levels oversold - .50 Fibonacci acting as resistance - .618 Fibonacci is local support - EMA’s both resistance - Volume declining after climax Bitcoin is trading at a very key region, right below the 200 moving average which is in confluence with structural resistance and the .50 Fibonacci level. The daily trend is considered to be bearish as we have not put in a higher high coming out of the bearish descending triangle . The stochastics is well below in lower regions, flattening out; we need to see it show an upper projection. This can be in confluence with the RSI , being way oversold at current time; an oversold bounce may be probable to cool off both these indicators… The Fibonacci levels are quite interesting, the .50 as mentioned before is now a key resistance level , and the 200 moving average coming over price at current given time makes this area of very strong resistance. The .618 Fibonacci level is considered as local support, price is more probable to quickly reach this region if the 200 moving average does not get broken… Volume is declining after volume climax’s, this shows that a volatile move will be at play, we could see a Bart move back and over the 200 MA and or another flush down, to local support, the .618 Fibonacci level… What are your thoughts? Will BTC break this critical resistance level or flush down to local support? IMO it’s pretty risky at current given time, we don’t have a clear direction however, few indicators are over extended, thus a oversold bounce would be more probable… Please leave a like and comment, And remember “A lot of people get so enmeshed in the markets that they lose their perspective. Working longer does not necessarily equate with working smarter. In fact, sometimes is the other way around.” – Martin Schwartz
BYBIT:BTCUSD.PLong
by The_Alchemist_Trader_
3
Don't get long before we break 294Seeing the congestions on heavy volume the last days, 283/284 confirms as a major support level. With the futures gapping a second day 1% , it seems very bullish for the SPY, HOWEVER... The 22 EMA is starting to show sideways movement , thus creating our situation not a trend, but a range with large overhead resistance at 294. A profitable play would be, if we see heavy resistnace + a low volume breakout at 294 to short and play for the range. If we break 294 on heavy volume and without much congestion there - start looking for longs until we get to 300 again.
AMEX:SPY
by bozhkov
Bitcoin Short Targets - Long EntriesThis is my opinion on where I feel we need to test next on the macro time frame. I expect a strong bullish bounce in the 1st green box which is the 21 weekly ema , and also a very nice fib retracement zone. If we lose the first bounce zone in the mid to high 8ks I would expect to test the 55ema next in the mid 7ks.. If for some reason that loses support too the 5k's is the last zone I would still consider it bullish on the long term scale still. I would then expect to find a price below 3k. For now my opinion is we bounce at that 1st target in the 8ks at the 21 weekly EMA and attempt to go higher than 14k, this will be determine fairly quickly as the proper bounce will have a lot of momentum.. if the momentum is not there, no reason to expect higher than 14k. This is NOT financial advice. Trading and Investing are risky, these are only opinions and nothing more.
BITFINEX:BTCUSDShort
by WoWCrypto
-------------------4HR CHANNEL/ PPL SET-UP--------------------Additional lower timeframe confluences: 1) 30 min FIB retracement and notice any respect or rejection to key 61.8 level 2) 15 and 5min 14 and 50 Ema in your favour, or wait for a dynamic support/ resistance 3) 5min rejecting a PPL and RSI strength in your favour bounce off 30 or 70 level 4) At a point of lower time frame break/ push there will also normally be a 5min 14 EMA retest the same time as a minor correction and good entry point if everything above lines up
Long
by JevanHayre