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Oversold

Bitcoin for the next couple of daysBTCUSD is forming a bullish descending wedge and oscillators are extremely oversold again so I'm expecting a move back towards the $4k before a resumption of the downtrend to the $3400 region. Bitcoin found bottom support for the downtrend on 20 November so I'm expecting a move back to this trend line support at the bottom of the wedge around $3660 before a bounce to the overall downtrend resistance around $4k. This is based on a 382 fibo retracement from $3660. price should then drop back to the bottom of the trend line support to the 161.8 fibo extension at around $3400. I have a feeling there will be a strong bounce on 30 November around the CME bitcoin futures expiry but we should be ready for the relief bounce at any time. Indicators are not going to be overextended and oversold forever. Expecting a massive bounce at some point and I don't quite think that price will reach the $2900 - $3000. This would be too convenient and the market makers will probably rek the traders who are looking to buy back at sub 3200 levels. A drop below our downtrend support takes the support down to the swing lows on 20 November in which case the price will be bouncing from the support of a larger descending channel. Good luck and happy trading! Previous post:
BITFINEX:BTCUSD
by Corn_Reaper
Buy $BTC when the RSI moves up out of oversold conditions.Each red vertical line is signaling when the RSI moved up out of oversold conditions. The price rallied nicely each time. This indicator can stay well under the green line to keep the market oversold. So, I will be looking for a buy when the RSI gets back above the green horizontal line and moves out of oversold conditions (or forms a divergence to price when down here). A move out of oversold conditions will likely happen on a clear upside break of marked resistance on the chart. And I would want internal trend momentum to back the upside move. I will use the ADX indicator to help guide that decision since it measure trend strength. I will not buy the bottom, but I will be buying when a nice bull trend is establishing and will make up for it in the long run. Thoughts?
BITFINEX:BTCUSD
by CryptoMarket360
1
Idea on XLM/USDTBased on the daily chart, Stochastic RSI is on oversold area, which could potentially reverse on these 2-3 days. Also, we see that there is a bullish divergence on the Stochastic RSI (daily chart) On the 4hr chart however, the Stochastic RSI is in a overbought area, which probably would stop the rise of XLM/USDT for a while. and continuing its upward momentum. There are 3 scenarios that would probably take place. 1. it breaks the 0.382 fib level and go upwards. 2. reverse on the 0.382 fib level, bounce of the 20 EMA, and break the 0.382 fib level. 3. go down to the 50 EMA and 0.5 fib level, and reverse to break the 0.382 fib level. On the fundamentals side, it is rumoured that XLM will conduct airdrop, giving the current XLM holders XLA (Stellar Activity) with the ratio of 1:2 The momentum/sentiment towards Stellar Lumens (XLM) have been so positive. Disclaimer: this is not a financial/trading advice. Good luck to you all!
Long
by evntdra
EURNZD: Price Bounce LikelyEURNZD Timeframe: 1D Direction: Long Confluences for Trade: - Price at Long-Term Trendline (since Feb 2017) - Price at Fibo 38% levels - Price around Horizontal Trendline (since Jan 2018) - Divergence of 8 EMA and 50 EMA quite wide - Stochastic Oversold momentum Suggested Trade: Entry @ Area of Interest 1.6610 -1.6750) SL: 1.6464 TP: 1.1.7228 RR: Approx. 2.80 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Long
by weekendanalyst
Strong bounce from falling wedge support!Bitcoin dropped to the bottom of the falling wedge and experienced a strong bounce from $6160 support. Wait for break above wedge resistance to enter trade. StochRSI approaching oversold and price is fast approaching the wedge apex for a breakout before the end of November. Bitcoin has been garnering higher lows since June and has found strong support on the uptrend so I am anticipating a break to the upside within the next 2 weeks. This should take BTCUSD above the 50 and 100 DMA to the 200 DMA at around $7k. Target Range 1: $6750 - $6880 Target Range 2: $7030 - $7110 Target Range 3: $7400 - $7600 Tether and Bitfinex causing exchange discrepancies again so I will be sticking to the Coinbase charts for the time being for until the tether fud clears. This is a short term view, who knows what the SEC will decide to do on 29 December 2018 when the Van Eck bitcoin ETF decision is either deferred one last time, rejected or approved. Until then I don't see price dropping below our $6K support. Good luck and happy trading!
COINBASE:BTCUSDLong
by Corn_Reaper
Gold ShortBased on price action in the weekly chart and DXY possibly edging higher to 100, it might still take more time before gold recovers. Most likely it will continue to go sideways. Entering sell stop order few pips below @1200 to continue riding bearish momentum of XAUUSD and take advantage of stronger dollar, with TP between @1180 - 1185, and SL near its recent high @1206. Need to watch out for consolidation in dollar especially DXY is now in its new 2018 high. Also CPI news and Fed Powell speech tomorrow, and geopolitical risks that might suddenly arise for any developments about the upcoming Trump-Xi meeting later this month. DXY: www.kitco.com www.cnbc.com bigthink.com investingnews.com Daily: Weekly: Confidence: B (because of upcoming news about USD, other geopolitical risks, and USD and Gold slowly getting a little overbought and oversold respectively)
OANDA:XAUUSDShort
by aiza_belle
VET/USDT - Massive Descending Wedge WATCH FOR BREAKOUT!!! TARGETS : -TP1: 0.01230 -TP2: 0.01376 -Longer Term Targets: 0.01494-0.01612 Region My Reasons for Entering This Trade: - RSI is oversold on the daily, currently at around 35 - Stoch RSI is slowly approaching buy zone on the daily - Volume is decreasing, which points toward a large move either down or up in the near future Negatives: - RSI could go even lower if it wanted too, lowest RSI on record is around 23 - MACD seems to be at a complete standstill on the daily - MFI could continue to go down as well Let me know if you have any criticisms or ideas that would help support or correct my claims! GOOD LUCK :)
Long
by Trndstrs
GSL Shippers Heating Up/Merger NewsGSL and Posiedon have agreed to a merger to take place sometime in November. GSL is being valued @ $1.78 a share by Posiedon and receiving over $200mln. With GSL trading at close today at $.95 the upside on the deal alone is great. But also now take into account the shipper run that has taken place the past couple Novembers and I believe we have a perfect set of circumstance for a nice upside potential for GSL. Given that GSL ran to over $4 in Nov 2016 and $2 in Nov 2017 we could see $1.78 and more. Check out the top trend line on the monthly chart below. www.tradingview.com seekingalpha.com
NYSE:GSLLong
by luckeyma
Nebulas: It's all systems go!NASBTC looking good after a strong bounce from support of the bullish symmetrical triangle. There is a small chance that this formation is a bearish pennant continuation pattern, however, looking at the 1D chart, price has had a strong bounce from triangle support, StochRSI is oversold and MACD shows potential for an upwards crossover. There is also bullish divergence showing on the 4H chart (see pic below). Nebulas has teamed up with Nuls (NULS), Bytom (BTM) and a few others to form the Blockchain Alliance Initiative which will work towards curbing vicious competition between public blockchains and they aim to open up their isolated ecosystems to new users and developers. Nebulas already has over 6800 dApps on its mainnet, they have strong advisory and backing and not bad R:R for a short term trade. Buy between 0.0002300 - 0.0002400 Target 1: 0.0004030 - 0.0004220 Target 2: 0.0004520 - 0.0004780 Stop loss: 0.0001900 Good luck and happy trading!
NLong
by Corn_Reaper