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Madridmovingaverageribbon

COMP/BTC LongCOMP/BTC is one of the more undervalued DeFi Bluechips: As the governance token for a well executed lending and borrowing platform with a TVL of ~$9.42B, a market cap of only ~$2.35B is not a worthy valuation for what this protocol offers. Coupled with the fundamentals. the COMP technicals look primed for expansion upward. The Madrid Moving Average Ribbon has twisted green which is an early indicator of trend change, signaling that a new uptrend will be starting. Price has broken out of a bull pennant and retested the top diagonal as support ready to make a move up to the long term diagonal down trend line (orange) and once price confirms and S/R flip there, we should see forceful price movement potentially to the 0.618 fib retracement line around .019708
Long
by Hrempe
CRV/BTC Long CRV/BTC is quite undervalued for what it offers. It is the exchange token for the Curve.finance DEX and offers the right to vote on exchange wide decisions. Price is heading toward the diagonal resistance initially formed in early last September with a diagonal support line coming up after the bottom formed in early January and a higher low was printed mid March, contracting the price priming it for upwards expansion. Madrid Ribbon flipped green (not pictured, would make chart messy) The Ichimoku printed signs of a bullish reversal: -TK cross occurred last week, -Price has moved above the TK -Lagging span has moved above price. However Ichimoku is still not convincingly bullish yet: -Kumo cloud is red -Price is within the cloud -Lagging span is below the cloud -TK is below the cloud Once a bullish Kumo twist occurs, the price moves above the cloud, the TK moves above the cloud, and lagging span moves above the cloud we can feel strongly that a move to the upside could be coming. A more risky but potentially more rewarding play is to enter a position before the Ichimoku becomes fully bullish at an S/R flip of the gray diagonal resistance, with confluence that the cloud too has been flipped to act as support around .0000640 Mid term targets sit at the black horizontals at .0001519 and .0002204
Long
by Hrempe
BTC/USD OUTLOOK GRIM? LOWER MTFA ENGLISHNOVICE SPECULATION: Well, BTC is migrating to the lower end of 8! Where will we go! On this chart, you can see multiple opportunities for high volume trading, or entries for a long term short. As this month closes, we may see a retrace to 9, but my personal opinion is we are going to continue to drop to 8.3 to <7. As always, it is hard to analyze where we go since, generally speaking, we are always combatting whales and exchanges *one in the same usually* so watch out for the weekly and daily time frames. LOGIC BEHIND SHORT: -Paper trading, so I feel no pain or regret, thus can safely make speculative paper trades on such a chart. -Bitcoin formed a double top on the 4H -Normal bouncing around, as usual. -Be careful out here...You could short and wake up to a 11k BTC. TRADE AT YOUR OWN RISK
GEMINI:BTCUSDShort
by Z3R0Matrix