$JK.V Recharging to attack ATH againTSXV:JK may be recharging to make another attack at its all time high.
We’re recently hit a new ATH with $JK.V as it broke through to a new high of $2.02 on its latest run. Taking a look at it’s current channels - both down and upward - along with the MACD and RSI it looks like we could be in for a retrace back down to the 0.618 of our local fractal @ 1.48, if not a little bit lower (0.786 ??), but ideally crossing dynamic channel supports that intersect with the 0.618 will provide a spring off point.
It would be worth keeping an eye on this one over the next few days to prepare for an entry once support has been found and a bounce has started. Keep in mind that 1.34 could prove a good entry as well if the price decides to head that low.
A few points worth mentioning:
- RSI is on the higher end, just leaving a VERY over bought state.
- MACD is showing that bullish momentum has eased off and may flip into a bearish state soon.
* This Content is for informational purposes only. You should not construe any such information or other material as investment, financial, or other advice.
Lowvolume
BITCOIN - It's No Surprise Man!!!!Hello everyone, rouzwelt here
Well finally bitcoin broke down the 30k level, I have been pretty vocal about it in my last several posts, explaining the reasons why a drop is extremely probable due to lack of demand and interest in crypto market as a whole, you can clearly see the massive hype around crypto has vanished and the weather is pretty cold right now. As I have been saying in my last post, I was expecting bitcoin to initiate its drop around the crossing point of the downward channel, blue trend line and red trend line (red circle in the chart), and that's exactly where that happened. I was talking about possibility for a reversal and what are the obstacles for bulls to overcome if we want to see one, but they failed at the first one and I said if they fail at any of those obstacles we will see a dump, just take a look at my previous post (screenshot below - click it to go to the original post) and judge yourself the accuracy and validity, I hope you find it valuable.
Right now price has broke-down from the downward purple channel and is now inside the yellow downward channel, sitting on the lower side, so it might initiate a move to the upper side (as demonstrated in the chart by arrows), or if bulls don't show any presence then it might fall below the channel and dumps even more.
I also have been talking about the critical level of around 29 - 30k for bitcoin to break below in my past articles, if it wants to see lower 20's, and as you can see in the screenshot of that post below (click to go to the original post), price has managed to hold on to it at current moment, but the problem is that we don't see any meaningful reaction from bulls, we don't see enough demand and buyers willing to step in at this area like the few times before. Previously whenever price reached this area it bounced quickly with significant demand and volume but right now its cold man. I should say that the trading volume is low and sellers are not doing much either, but their not much efforts have been enough to bring the price to this level, and that's not a good news at all, cause if they have managed to bring the price here with not much efforts, how far can they dump the price if they put more efforts? So right now it doesn't look any good for bulls and I want to be honest, I find it hard to find any bullish signal from the chart in TA perspective, but whenever I see one I'll be more than happy to share it with you guys.
I'd like to point something else here as well, and it's the break-down of macro rising channel in weekly timeframe of log chart (screenshot below). I've been talking about this possible break-down in my post several weeks ago, and now the break-down is confirmed, so lower prices for coming months should not be any surprise to anyone, but that might be good news as well, because that might be the time for bigger players like institutions to come in as many of them have been waiting I believe, because they mostly look at weekly and monthly charts and plan their moves on macro scale and you can't possibly expect them to be he buyer at tops. It also is a good news for those who are here long term and actually believe in blockchain and crypto as they can buy them cheaper.
It's worth mentioning that the fundamentals around bitcoin and sound alts have never been stronger than now, we are hearing great news and that can be an indication that the current bear market would not last very long like 2018 bear market, but that teaches me personally a great lesson and it's that fundamentals don't have to impact prices immediately, they are the main driving factor for rising prices in long-term of course, but the road is not a straight one, that's where TA comes in play, when it's cold it's cold, you can't warm up an entire market by several 4H candles, TA gives you the navigation tool so when the warmth slowly builds up and when it gets hot again, you would be the one enjoying the most.
My short position is still open at 32850 with SL at entry, shoutout to those who took that trade with me, I hope you're enjoying that, and I have a plan to increase its size if bitcoin manages to break the 29 -30k down. I'll be posting about that when I see a clear entry point.
In the end I'd like to ask you all to take a look at my previous posts and judge their qualities yourself, and if you find them and this post valuable enough then consider supporting me by hitting like and comment if you have any opinion about them, I'd appreciate that a lot.
XRP Wearing A Parachute On The Daily Tempting The Bears XRP looking super bearish on the daily but I think it could be a quick wick down or a fake out.
Price is nearing Strong support on the weekly. But could see a wick down to the 40 cent area.
If you look on chart you will see the exact same setup is playing out that occurred around end of Jan 2021.
BB tightened with a death cross looming on the daily moving averages, Stoch RSI oversold...
Price action breaks out before death cross happens which does not stop it from occurring. When death cross occurs price consolidates until golden cross confirmed which brings a larger impulse right after.
Will we see a similar outcome?
The first move right before the moving average death crosses was over 200% in a few days.
Will update post as trend progresses..
Not Financial Advice. Downside Risks Apply.
BTC to Touch $28k AgainBTC has been on a steady downward trend (within a descending channel) and looks like it is consolidating for another downward move towards $28k. Volume has been significantly lower over the past few days also. My wild, out-of-the-box estimate for this 15%-20% dump is within the next 24 hours.
LIT/USDT Trying to recover and close to supportLitentry took a heavy blow from the last Bitcoin downfall.
Now trying to recover it needs some attention since the volume currently is too low.
Maybe the "Farming" opportunity at Cakeswap will help.
Reef is having a hard time and is close to two resistance lines.
Expect a small pullback to gain some momentum for a breakthrough.
Bitcoin is consolidating which normally is a good sign for altcoins.
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
Cheers
ps.
Chart explanation:
Green lines are tested support lines.
Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
Cyan line is for volume trendline.
Purple lines are trendlines we take a look at.
Yellow lines are for visual help only.
Saturday slowdown - Opportunity to take a day offThis week was interesting and a bit nerve-wracking. Bears were getting ready for their turn and suddenly had it shove up their shorts. Elon didn't miss the opportunity to troll the market with a single #tag sending BTC 20% up! Honestly, it was quite amusing. After the dust settles, things seem to slow down, volumes are dropping. If you want a day off - close your positions, sell any crypto overweight that you have and just enjoy the peace.
For those more adventures of you who still try to fight, trade and squeeze what's possible out there - the position is short. Resistance levels are unclear and unlikely to breach 1370 in the upcoming hours. Forecasted top hights seems to be at a safe distance of 1408. Downwards trend should continue and may reach 1280 with the first strong support line to test at 1245. If it suddenly drops below 1270 we may visit 1245 sooner rather than later.
Enjoy your day off - I know I will 😎🍹
EURCAD OVERVIEWThe pair is inside two different channels, thew bigger one is a bearish channel and eurocad is touchng the resistyance line for the second time (we can even notice a confluence witha horizontal resistance which is represented by the red line, price has been rejected multiple times in that zone that goes between 1.571 and 1.579), then the second small bullish channel highlights the possibility of a bearish leg directed towards 1.553 where the 50-day moving average lies.
Pay attention to volumes, they are really low, it means that the upside has limited potential and we are going to see a sort of consolidation for some days and then the inversion.
1.553 is a key level:
50-day ma
61.8% retracement
middle support zone.
Write me a message if you would like to know the levels to open a trade and set tp and sl.
Enjoy your trading guys!
October 1 PlanThought I'd share my some of my morning notes given the new month. Best of luck today!
FTM/USDT | Pivotal level | Bearish Divergence | 200 EMA Todays analysis – FTM/USDT – consolidating at a pivotal level as trend support and structural resistance converge.
Points to consider:
- Key level (apex)
- Swing high failure
- Immediate target (structural support)
- 200 EMA Support Confluence
- Low volume
- RSI bearish divergence
Price is coiling into its apex as trend support and structural resistance converge, break in either direction is probable.
Price failing to break structural resistance; a local swing high failure will for a bearish bias in the market with the immediate downside target bring structural support
The 200 EMA also coincides with structural support, putting emphasis on the key level.
Volume is also declining and remaining below average; indication of an influx being imminent, likely to coincide with bearish price action.
The RSI has a valid bearish divergence, another sign of weakness in the immediate market.
Overall, in my opinion, a long trade is validated with a successful S/R flip retest of the 200 EMA with technical target of structural resistance.
If you’ve read this far - thank you for following my work!
And as always,
Focus on you, and the money will too!
STX/USDT | Key Level | Support Cluster | Trade Setup Todays Analysis – STX/USDT – Retracing to establish an S/R flip re-test of daily support.
Points to consider:
- Healthy Up-trend
- Support Confluence (key level)
- Declining Volume
- Oscillators Below 50
STXUSDT needs to hold the re-test of the daily support zone to form a higher low on the chart and continue its bullish uptrend.
The Support cluster also coincides with the 200 EMA and .618 Fibonacci retracement, putting emphasis on the key level.
Volume is declining and below average, usually an indication of an influx being imminent; likely to coincide with the retest of support.
Both the RSI and stochastics are testing the 50 level, further price development will determine a directional bias. Oscillators need to range above 50 to maintain strength and momentum in the market.
Overall, in my opinion, a successful re-test of support validates a long trade to technical targets above with risk defined below local swing low.
If you’ve read this far - thank you for following my work!
And as always,
Focus on you, and the money will too!
TRXBTC | Key Level |S/R flip Retest | Head and Shoulders Today's analysis – TRONBTC – Trading at a key pivotal level, putting in an S/R flip retest.
Points to consider:
- Valid head and shoulders (neckline breached)
- S/R flip retest
- 200 EMA support Confluence
- 21 EMA (visual guide)
- Low volume
- RSI trading above 50
- Stochastics buy cross
TRXBTC has breached its inverted head and shoulders neckline, validating the pattern and establishing a higher high, forming a bullish bias in the market.
Consolidating at it its daily support zone, putting in an S/R flip retest. Price needs to hold this level for a valid long trade.
Support zone is also in confluence with the 200 EMA acting as dynamic support, further solidifying this key level. Price trading above the EMA will support the bullish bias.
Further price development will allow the 21 EMA to act as a visual guide assisting in trade management.
Volume is clearly tapering off and below average. An influx of volume is key at this level to support the trend continuation and void any fake-outs.
RSI holding above 50 as it cools-off from overbought conditions; ranging above 50 will retain the strength in the market.
Further bullish price action will form a bullish crossover on the stochastics with ample stored momentum to the upside.
Overall, in my opinion, TRXBTC is in its buy zone for a valid long trade with technical targets above. Volume follow-through is needed and will be key for a bullish continuation.
If you’ve read this far - thank you for following my work!
And as always,
Focus on you, and the money will too!
DLTBTC | Support Confluence | Low Volume | .618 Fibonacci Todays Analysis – DLTBTC – Trading within a range as price retraces to test daily support
Points to consider:
- Support confluence
- Declining Volume
- RSI below 50
- Stochastics Oversold
DLTBTC needs to hold daily support upon retest as it confluences with the .618 Fibonacci resistance to substantiate the thesis of a long trade to structural resistance.
Volume has tapered off and below average. As price tests daily support, bull volume influx will be a key indicator supporting the bullish bias adding validity to the price action.
RSI has broken below 50 and is likely to decline further as price retraces to support, allowing for ample space for incline before reaching oversold conditions.
Stochastics reaching oversold condition and may remain oversold for some time. However, this also indicates stored momentum to the upside as the market shifts.
Overall, in my opinion, price needs to respect and hold daily support with evident volume follow through to validate a long trade to structural resistance with risk defined below support.
What are your thoughts?
If you’ve read this far - thank you for following my work!
And as always,
Focus on you, and the money will too!
OGNBTC | Trade Setup | Support Confluence | Trend Continuation OGN BTC
Today's analysis – OGNBTC – Continues its upward momentum as it holds support at key level.
Points to consider:
- Support Confluence (key Level)
- .618 Fibonacci retracement
- 55 EMA (visual guide)
- Low Volume
- RSI breaking above 50
- Bullish Stochastics
OGN showing signs of trend continuation as price respects daily support in confluence with the .618 Fibonacci retracement.
Price respecting the 55 EMA allows for an additional layer of support. Holding above the MA is bullish, supporting the bias for a trend continuation.
Volume has been declining and remaining below average. Historically, an inflow of volume has coincided with bullish price action, indicative of an influx being imminent.
RSI breaking above 50 indicates increasing strength in the market. Stochastics projecting up, breaking the 50 level is indicative of increasing momentum in the market. Both oscillators need to range and hold above the 50 level for a bullish continuation.
Overall, in my opinion, a long trade is validated with a conservative technical target of local swing high with risk defined below daily support.
What are your thoughts?
If you’ve read this far - thank you for following my work!
And as always,
Focus on you, and the money will too!
BTCUSDT | Descending Wedge | Trend Resistance | BearishToday's analysis – BTC USDT – Forming a probable descending wedge following a strong rejection at trend resistance
Points to consider:
- Macro trend bearish
- Descending wedge pattern
- Below average volume
- RSI neutral
A strong price rejection at trend resistance, forming a lower high on the chart indicates downtrend continuation for BTCUSDT.
Trading within a descending wedge pattern, BTC's technical target is Daily support.
A bullish break of this pattern, BTC is likely to re-test trend resistance whereas breaking bearish, a breakdown to weekly support is probable.
Volume nodes are declining and below average, an influx is to be expected at the break of the descending wedge pattern as it coincides with daily support.
RSI is neutral as volume declines and volatility contracts. Again, further price action and a break of the pattern will allow for directional bias. Oscillators trading below 50 is bearish and above 50; bullish.
Overall, in my opinion, an S/R flip at daily support validates a short trade to weekly support.
Until a successful S/R flip re-test of trend resistance is formed, I am bearish and will look to short BTC.
If you’ve read this far - thank you for following my work!
And as always,
Focus on you, and the money will too!
MITHBTC | S/R Flip | Trend Reversal | Inverse Head and ShouldersToday analysis – MITHBTC – Forming a higher low, consolidating above daily support validating a long trade to technical targets above.
Points to consider:
- S/R flip Retest (trend reversal)
- 100 EMA (support confluence)
- Inverse head and shoulders
- Low volume
- Oscillators neutral
MITHBTC trading in a healthy uptrend forming a lower high with a valid S/R flip retest of daily support, establishing a bullish bias with signs of a macro trend reversal.
Price breaking above and respecting the 100 EMA allows for an additional layer of support. Holding above the MA is bullish, supporting the bias for a trend continuation.
A valid inverse head and shoulders (bullish trend reversal pattern) is also in play as price holds above the neckline coinciding with daily support.
Volume has tapered off and trading below average, an influx is essential as price gravitates towards daily support to avoid any false breaks and restore strength in the anticipated trend continuation.
Both, RSI and Stochastics are testing the 50 levels as volatility contracts. Although further price action will allow for directional bias, it is essential oscillators hold above 50 to maintain a bullish bias.
Overall, In my opinion, a long trade is validated as MITH retraces to daily support with technical targets above - defining risk (SL) at the previous swing low.
If you’ve read this far - thank you for following my work!
And as always,
Focus on you, and the money will too!
ALGOBTC | Key Level | Trend Reversal | Head and ShouldersTodays Analysis – ALGOBTC – Forming a potential head and shoulders pattern, trading at a key level within a multi-month descending channel.
Points to consider:
- Range Median – key level
- Head and shoulders
- Low volume
- RSI below 50
- Stochastics oversold
ALGOBTC has found support at the range median of its descending channel. Price holding above the area will establish the right shoulder of a potential head and shoulders (H&S). Price breaking and consolidating above channel support will further validate this pattern.
A validated head and shoulders pattern will establish a higher low in the chart, indicative of trend reversal, forming a bullish bias in the market.
Volume is tapering off and remaining below average, an influx is needed price attempts to break channel resistance to avoid any false breaks as seen previously.
The RSI has broken below 50 indicating increasing weakness in the immediate market.
Stochastics are oversold and may remain oversold for some time as seen historically, before momentum shifts to the upside.
Overall, in my opinion, further price development will determine a directional bias. An S/R flip at channel resistance will allow for a long bias and a break below range median, price is likely to test channel support.
What are your thoughts?
If you’ve read this far - thank you for following my work!
And as always,
Focus on you, and the money will too!
BATBTC Trade Setup | Trend Reversal | Hidden Bullish Divergence Today's chart - BATBTC – Consolidating at key support; a successful re-test validates technical targets above.
Points to consider:
- Trend Reversal
- 21 EMA visual guide
- Hidden bullish divergence
- Stochastics oversold
- Low Volume
BATBTC testing trend support after a strong bull move into daily resistance, price respecting support level will form a higher low on the chart, indicating a trend reversal and will allow for trend continuation.
The 21 EMA will assist as a visual guide, price breaking and trading above the EMA is a confirmation of strong trend continuation.
Although trading below 50, the RSI confirms a hidden bullish divergence: price has made a higher low whilst the RSI has made a lower low, indicating a strong market accumulation. This also allows for ample space before the oscillator reaches overbought conditions as price breaks bullish.
Stochastics are also overextended, although they may remain there for some time, momentum has been stored to the upside.
Volume has been tapering off, indicative of an influx being imminent, likely to coincide with a break in either direction.
Overall, in my opinion, BATBTC needs to hold trend support and break above the 21 EMA to validate a conservative entry for a long trade to technical targets above.
What are your thoughts?
If you’ve read this far - thank you for following my work!
And as always,
Focus on you, and the money will too!
SILVER | Strong Resistance | Fibonacci Extension Targets Todays analysis – SILVER - Consolidating within a long term descending triangle as it nears apex.
Points to consider:
- Strong resistance
- 2.272 Fibonacci extension target
- RSI above 50
- Stochastics overextended
- Low volume
SILVER unable to break structural resistance with multiple failed re-tests, however, price is quickly bought up as it retraces from resistance indicative of buyers being present, setting a slightly bullish bias in the market.
A bullish break of this formation validates the next Fibonacci extension target of 2.272; also in confluence with structural resistance. Whereas a bearish break of this formation, price is likely to find local support at the 1 Fibonacci extension target.
RSI is currently testing 50, recovering from overbought conditions. A bullish break requires the RSI to range above 50, signifying strength in the market.
The stochastic RSI recovering from oversold conditions with ample space for an increase in momentum.
Volume is clearly declining and remaining below average. This is usually an indication of an influx being imminent, likely to coincide with the breakout.
Overall, in my opinion, a break and candle close above resistance validate next immediate target of 2.272 Fibonacci extension. The break needs to be backed with increasing volume to avoid any false breaks.
What are your thoughts? Let me know in the comments below!
And if you’ve read this far - thank you for following my work and development as a trader!
As always,
Focus on you, and the money will too!
ZECBTC | APEX | Symmetrical Triangle | Volatility Contraction Todays Analysis- ZECBTC – trading within a symmetrical triangle as it nears the apex.
Points to consider:
- Volatility Contracting (apex)
- Consolidating above range median
- 100 EMA (dynamic Resistance)
- Declining Volume
- RSI above 50
- Stochastics overextended
As ZECBTC consolidates above range median, volatility is contracting as price coils into its apex where a break in either direction is probable.
Historically, price has failed to break above the 100 EMA, thus another rejection upon re-test is probable. However, body candle closes/consolidation above this dynamic resistance is very bullish.
Volume is clearly declining and currently below average, indicative of volatility expansion being imminent. A break in either direction needs to be backed by increasing volume to solidify legitimacy.
RSI trading above 50, establishing consecutive higher lows showing increasing strength in the immediate market. Stochastic RSI currently overbought, however, this oscillator may remain overextended for a prolonged period.
Overall, In my opinion, a long trade will be validated upon a successful S/R flip of the 100 EMA.
What are your thoughts? Let me know in the comments below!
Appreciate you for following my work and development as a trader.
As always,
Focus on you, and the money will too!
IOSTUSDT | Ascending Triangle | Apex | Structural Resistance Todays analysis - IOSTUSDT – retracing to local resistance, trading in a bullish ascending triangle.
Points to consider:
- Support and resistance converging (apex)
- Bullish ascending triangle
- Bullish price action
- 55 EMA – Visual guide
- Low volume
- RSI projecting higher lows
IOST consolidating within an ascending triangle nearing its apex where a break in either direction is expected.
Recent price action consisting of higher lows and strong bull moves proceeding weak sell-offs is indicative of a bullish bias in the market.
Trading above the 55 Exponential Moving Average, acting as visual support, price must hold to support the bullish bias.
Volume is clearly declining, indication of an influx being imminent, corresponding with the breakout.
RSI trading is trading above 50, projecting higher lows showing strength in the current market.
Overall, in my opinion, a long trade is validated at the test of local resistance (aggressive entry) and the position may be added to as we verify a successful S/R flip above structural resistance (conservative entry).
What are your thoughts? Let me know in the comments below!
Be sure to leave a like and follow me for daily chart updates.
As always, focus on you - and the money will too!
ONT USDT | APEX | Symmetrical Wedge | Trade Location Today’s Analysis – ONT USDT - forming a symmetrical triangle, nearing its apex where a break in either direction is probable.
Points to consider:
- Apex approaching
- Low Volume
- RSI below 50
- 200 EMA (visual guide)
ONTUSDT is currently trading within a symmetrical wedge formation that will break in either direction as the immediate support and resistance converge.
The volume is clearly declining; indication of an influx being imminent, corresponding with the probable breakout.
The RSI has also formed a symmetrical triangle, a break of the pattern will support the directional bias.
200 EMA can assists as a directional guide, price consolidating above, giving a bullish bias.
Overall, in my opinion, a break will occur validating a trade in either direction. However further price development is needed to determine a directional bias with volume follow-through for price-action legitimacy.
BATBTC | Structural Support | Apex | Low Volume Todays Chart – BATBTC – trading in a multi-month triangle formation nearing its apex.
Points to consider:
- Support and resistance converging (apex)
- Macro swing low failure
- Low volume
- RSI breaking below 50
BATBTC needs to hold local support for a break and of local resistance.
However, failing to hold local support; a break to structural support is plausible.
Swing low failure (higher low) on the daily is indicative of a macro trend shift. S/R flip st structural resistance will solidify trend reversal.
Volume is below average, an indication that an influx is imminent coinciding with the probable breakout.
RSI is breaking below 50 showing weakness in the market indicating a probable retrace to structural support
Overall, in my opinion, BATBTC has some work to do and needs setup.
A long trade will be validated on a re-test of structural support (conservative entry) or a break and re-test of local resistance (aggressive entry).
What are your thoughts? Let me know in the comments below!
Be sure to leave a like and follow me for daily chart updates.
As always, focus on you - and the money will too!
IOTXBTC | Descending Triangle | Apex | Trade Setup Todays chart – IOTXBTC – testing resistance of the descending triangle formation as it nears the apex.
Points to consider:
- support and resistances converging (apex)
- Trend bearish (consecutive lower highs)
- Bullish Price action (testing resistance)
- Support confluence
- RSI above 50
- Low volume
IOTX has formed a mature descending triangle (typically considered a bearish formation) however price action is showing strength with multiple breakout attempts as it nears the apex.
Structural support and the 200 EMA being in confluence puts a strong emphasis on the level being a strong support zone.
RSI trading above 50 showing strength in the market supporting the bullish bias.
The volume is clearly declining, an indication that an influx is imminent coinciding with the probable breakout
Overall, in my opinion, IOTX needs to break and retest structural resistance with volume follow through for a valid long trade to structural resistance.
What are your thoughts? Let me know in the comments below!
Be sure to leave a like and follow me for daily chart updates.
As always, focus on you - and the money will too!
