Last month, AXS finally broke through the downtrend resistance. Now price appears to be consolidating above the resistance-turned-support line and dipping its toes into the supply zone. With the recent Bullish Divergence (4h) and with the indicators entering buy zones, AXS looks like a great opportunity for averaging into a long position. To...
"Be greedy when others are fearful" BABA is 70% off its highs from a year and a half ago and many investors are jaded. Looking at the technicals however, I'm seeing plenty of reasons to consider BABA a great opportunity to DCA into a long position here. The relentless overhead resistance and downward momentum appear to be dissipating as sellers run out of...
Hi Traders! Here is our analysis of this pair: Market is in a Downtrend which started around 9th of March at a price of 1.29 On 28th of March price made a Low @ 1.24600 After the Low we have a conspicuous bullish candle with a big bullish wick --> What does that mean? --> First Bullish Attempt to move the price higher --> Loose in the first place,...
The RSI here does not show Divergence but it does show consecutively weaker attempts at making higher highs at the PCZ of this AB=CD and could be signaling the end of the trend for now taking us all the way down to around the levels of C.
LUNA needs a cooldown. Bearish divergence on both the Daily and 4-hour charts. Buyers are exhausted. Look for profit taking and a potential break of the wedge support. Momentum could carry the price higher, but this is definitely not the place to gamble on a long position. Good Luck. ---------------------------------------------------------------- These are my...
HI TRADERS ... after the formation of Exhaustion Gap and test of Measured Move (Based on height of Trading Range) and then LH Major trend reversal i predict the price will come lower
BTC has been struggling under the weight of massive overhead resistance--from the recent Death Cross, from having broken a major trend support line, from Weekly bearish divergence, and so on. Retail investors are "extremely fearful" and calls of impending doom are everywhere--meanwhile, those in short positions are euphoric. All this is setting the stage for a...
NEAR may still have some juice in the tank vs BTC, but we're entering buyer exhaustion on the daily chart. Too much risk to enter long here with the way I trade. I'm anticipating a bullish cooldown, perhaps back to the 50 EMA, in the next couple weeks and will look for a potential entry. ------------------------------------------------- These are my personal...
COIN is down 37% since its high in November and appears to be in a clear Falling Wedge pattern. We've also entered my Buy Zone and we're seeing Tier 1 Seller Exhaustion. This is a prime value play for me and I'm interested in starting to average into a long position here... However, I'm waiting to see bullish divergence on the Daily chart before I go more heavily long.
Let's take a closer look at BTC on the 4-hour chart. So far price is following the projected path of our last update (see linked idea). The question now is when are the bulls going to take control? We've seen a flourish of buying activity today with high volume, but will it be enough to trigger the reversal here? I'm showing the 4-hour chart (instead of the...
Netflix is down 22% from its high in November. There is a lot of downward momentum/pressure in this move and market structure is broken. Price has returned to the most recent Supply Zone, we've entered my "buy" zone, and sellers are ready to take a break--for now. I think a small bounce could happen from this level, but I'm expecting bearish momentum to carry...
After falling 64% from its highs over the last 5 months, Roku appears to be heading into solid support. We appear to be at the bottom of a Falling Wedge (bullish)... The tip of the wedge lands in a Supply Zone... We have bullish divergence on the daily chart... and we have multi-level Seller Exhaustion. On the down side, we still appear to have heavy resistance...
AXS has pulled back to the 200 EMA and is looking for support. I don't see an obvious Trend Support line, so I'm looking to the Supply Zone (area where a lot of trading has taken place in the recent past) to provide a respite for the bulls. We've entered my "buy zone" but I want to see divergence/confirmation before I consider an entry. Sellers appear exhausted...
In our last look at SHIB-USDT (see linked idea), we were hoping for a Higher Low to form which would signal short-term bullishness. Instead, price action has followed our bearish path and is now retesting the support line. I think a bounce from this level is reasonable, but it might just be a temporary bounce as we run into further overhead resistance. Overall,...
On the positive side, CELO has broken the Trend Resistance and the 4-hour chart (not shown) suggests we may bounce off the new support line. That bullishness, however, should be tempered with the Daily chart which suggests Buyer Exhaustion is on the horizon. In addition, I'm seeing negative pressure that could signal a sharp downward move. The chart is too...
SOL-BTC is following our predicted path almost exactly (see linked idea). Trend Support broke and we're now looking for a support zone and seller exhaustion. Currently, I'm targeting the 200 EMA as support, however I'll be looking for some bullish divergences before I get excited about SOL again. ...
BNB has taken the more bearish path from our last review (see linked idea). In that "bearish" case we presumed a retreat to Trend Support before BNB would gain bullish momentum again. While I still think a bounce from Trend Support is possible, there's a big *but* to consider: Weekly Bearish Divergence. With the way I trade, Divergence is the primary indicator...
Now let's revisit our ETH-BTC chart. The upper support line appears to be holding, however the downward momentum looks strong enough to push price to the lower support line. The Aqua path now seems the most likely to me, however I'm not totally convinced the lower support will hold either. Regardless, I'm waiting for ETH to enter my Buy Zone before I'm...