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MITHBTC

MITH/BTC (Testing 200D MA Dynamic Support)BINANCE: MITHBTC -Mithril is now testing the 200D MA dynamic support -And the previous resistance zone which has the chance of flipping into support -If this area of confluence will hold for the next few days -There is a chance to test the trendline resistance above at 80-85 sat range -Bearish side, a candle body close below this green support -Will send the price lower down to 56-50 sat area ^Trading involves High Risk ^Not Financial Advice ^Please exercise Risk Management **If you like my daily Published Ideas **Please don't forget to leave a thumbs up & comment **Thank you! :)
M
by PolarHusk
4
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!
MLong
by Kudiiee
2
Support and Resistance Trade Set-Up for MTL/BTC [Quick Updates]Hey all, here’s another entry on my tradingview series called 'Quick Updates'. After a beautiful last trade on MTL, we can continue our momentum with another support and resistance trade. This time, we will use the previous support as new resistance using a concept called S/R flip. During a support and resistance flip, an old support level can "flip" and be transformed into a new level of resistance. --- What is The Quick Update Series All About? --- I have started a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will contain a brief explanation with clear and clean charts in order to keep the velocity up and make sure you get to see the opportunities as fast as possible. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only! Look here for the previous trade on MTL:
Long
by Trading-Guru
4