KEY - Free SignalYellow = Buy Zone
Green = Sell Targets
Red = Stop Loss
P/L Potential
Downside = 5%
Upside = 6-16%
Risk = 4/10
Relative Volatility Index (RVI)
BTC - Price Analysis The price of Bitcoin formed tweezer tops (reversal pattern) 3 days ago, and after the FUD news in regards to ETF denial of the Winkle twins, we saw further consolidation down to the 7130 price point.
There are two channel that contain the price currently. A larger ascending channel that the price is still within, and a potential downward channel.
However, I believe support will be found before the psychological supports (light blue) in place at 7.4 - 7.7k which are further reinforced by fibonacci supports.
Furthermore, the Kijun and Tenkan are also acting as support, and their horizontal motion indicates lessened volatility.
The RVI again confirms the lessening volatility.
Moreover, the ADX is sitting at 37.2 which still indicates this uptrend is still strong, and the widened DIs help support this thesis.
For the reasons listed above, and the fact that the more important ETF application that was submitted by CBOE should be published in some bullish news over the next few days, I believe the price will find support at the 7.7k level before a possible extension back to the .786 extension point at 8.3k~
IOTA - Free SignalYellow = Buy zone
Green = Sell Targets
Red = Stop Loss
Tweezer bottoms (Green Box) - Reversal pattern
Falling wedge - Reversal pattern
Stochastic RSI low. Bull Cross
RVI - Need to break resistance to confirm continued momentum upward.
Smaller timeframes are overbought which should pull the price back within to buy range before continued upward action.
BTC - Price AnalysisThe senkou span A is curling up indicating lessening volatility and this is confirmed by the RVI as it approaches a point of support.
However, Senkou Span B is continuing to range horizontally but that is due to it being a slower indicator than Span A.
Currently, the price has the Kijun indicating upward momentum and acting as support. Furthermore, the Tenkan is also acting as support and has begun ranging sideways which indicates lessened volatility, and acts as a 3rd indication of lessened volatility. Moreover, the tenkan is quicker than the Kijun and it's resting support is currently well aligned with the 0.618 fib level.
If the price ranges through the area highlighted in green and finds support as the stochastic falls back down into oversold category without it breaking past it's support at 7k~, we could see a fib extension to the .786 level
IOTA - Free SignalYellow = Buy Zone
Green = Sell Targets
Red = Stop loss zone
If you choose to use this information as a trade opportunity I do not recommend buying in above the buy zone. Let the price come to you and be patient. Trade safe!
Due the overall market action there are many falling wedges taking place on the daily charts.
The stochastic RSI and RVI in conjunction signal that the price has room to fall and the volatility could lessen as well. If the price falls then generally the volatility will lessen which leaves room for buying pressure to move back in.
I would expect a continued drop over the next few days in price and between the 15-18th we could see the price reach it's first potential breakout point at A. The support here is reinforced by the fib level as well as psych support.
If the support labeled at A does not hold then I would expect a bounce at the next level labeled at B.
Furthermore, there could be an upcross from the Chikou span in the next 7-10 days.
Time projection for price to reach supports.
Support A: 7/14 - 7/18
Support B: 7/21 - 7/25
Targets could take up to 2 weeks to be reached after that.
NEO - Price Analysis Depending on the trajectory chosen to draw your trendlines the price can be said to be forming a falling wedge within a descending channel.
Due to the selling pressure indicated at the top of the daily candle, and the downward action on the Stochastic RSI is indicative that the price will continue to slide down the channel closer to past support near the .236 fib level.
Furthermore the RVI indicates lessening volatility in price as it complete the double top pattern. This lessening momentum and volatility further reinforces the possibility of a bounce off of the psychological support.
Trade safe!
BTC - Price AnalysisThe price of BTC has been drifting up an ascending channel and finally met strong resistance at the ~6872 price point.
Currently the stochastic RSI has reached overbought territory and is in the stages of moving back to an oversold region.
Support at the 6300 price point seem very well supported both by Fibonacci levels, the Kijun Sen, and psychological support.
I don't believe we will see the price break to the downside of the channel. Although the Stochastic has room to fall, the RVI is signaling that volatility is decreasing. That in combination with the well respected support that has formed, I believe we will see a move upward in price over the next few hours.
The 2 as well as the 4 hour timeframe have bullish Kumo twists and bull crosses on the Stochastic RSI. Which further reinforces the idea that the price should stay contained within the channel.
However, a large enough sell off and a break to the downside would mean our next level of support is ~6130 - 6200
ZEN - Price AnalysisThe chart pattern is forming a very steep Rising Wedge which is a Continuation / Reversal pattern.
The stochastic RSI has a falling wedge forming that will most likely begin to double top.
The RVI indicates a tremendous amount of volatility as the prices momentum rapidly increased.
Ichimoku cloud has a bearish flip and the Kijun is acting as support and ranging which tells us that the support is a stronger level because the Kijuns momentum has reduced.
I expect the price to break to the downside of the wedge and find support near the kijun before it begins to range.
BCH - Price AnalysisOverall, BCH price is within a descending channel. We had a small reversal after the tweezer bottoms (in orange) that formed 3/4 days prior.
Tenkan san shows the market is ranging. At the same time, Kijun Sen is falling to meet the price which signals a lessening in momentum. The wicks under the past two daily candles further supports that idea as well as the RVI.
Due to the oversold conditions on the stochastic RSI there is a likely chance we'll see the price fall.
A potential bounce from previous psychological support or the .236 fib level could cause an upside break of the descending channel which could bring about a fib extension to the .382 levels.
If the channel fails to break to the topside, our next levels of support are, 711, 694, and 672.
Trade Safe!
EOS - Price AnalysisEOS looks as if it has some great bullish indications taking place.
There's the falling wedge as well as the bull cross on the Stochastic RSI.
Moreover, our Kumo is still bullish and there isn't very much bearish movement indicated by the Senkou lines.
Finally, RVI is forming a double bottom which supports the prediction of some upward movement.
It's important to note that we would need to see bullish ascending volume for that movement to be confirmed.
XRP - Price AnalysisXRP has formed a wonderful falling wedge on the daily chart. Although, indicators are quite near bottom there are not many buy signals.
Stochastic has not crossed over, ADX is bearish and confirmed the strength of the downtrend.
That in combination with the low volatility on indicated by the RVI leads me to believe we will see more downward price actions towards the end of the wedge.
Watch for a bull cross on the stochastic, a topside break of the wedge, thinning of the Kumo, and an upcross on the chikou!
ETH - Price AnalysisAlthough the price is moving down a steep descending channel we can see that there has been buying pressure the whole way down.
The RVI and Stochastic indicate that downward momentum and volatility are decreasing with a small bullish curl on the DI -. Further confirmation of this is indicated due to the horizontal movement of the tenkan and kijun.
Previously the bottom of the kumo had been acting as support but now that the price has fallen through we could see a drop to the ~.236 fib level nearing the bottom of the Senkou spans.
If support holds at the .382 fib level there is a chance that we could see a fib extension up to the .5 level at the top of the bullish twist on the kumo.
BTC - Price AnalysisPrice has been moving down this descending channel and respecting it, as well as, the fibonacci levels as price declination occurs.
Stochastic RSI bounced and looks to be forming a double top.
RVI is currently in a double bottom formation.
Those two indicators in combination with the dragonfly doji may be signalling another bounce to the .236 fibonacci line.
Kumo, Tenkan, and Kijun are all still bearish and I would not expect large price movements.
ADA Price Analysis There are potential tweezer bottoms forming on the candles which could signal a small reversal of trend. This price action is further reinforced by the falling wedge pattern being formed.
However, ADA has some strong resistance to overcome at the top of the wedge both in the form of psychological resistance as well as the .5 fibonacci level.
There's a small bullish twist on the Kumo followed up by another twist back into a bearish formation.
Stochastic RSI has bottomed out and the signal line is attempting another bull cross.
RVI shows us we are gaining momentum. Although the past resistance on the RVI aligns well with the resistance at the top of the wedge.
Small bullish curl on the DI -
We are still in a strong downtrend.
It will be interesting to see how this price action plays out.
BAT Price analysisIn the descending channel the price is in it looks as if the price has respected the .236 fib level quite well.
The stochastic RSI and the RVI have both reached good levels of support and a bull cross in the short term could mean some upwards price action within the channels plotted boundaries.
Although, I do not think the stochastic RSI will break previous levels acting as resistance due to the bearish conditions seen on the ADX.
NEO Price AnalysisNEO has recently had lots of buying pressure sold off and has formed a nice falling wedge.
There is a small bull cross on the stochastic RSI and a double bottom that is taking place on the RVI.
This leads me to believe we'll see some short term buying happen quite soon.
However, I do not think there will be room for much upwards price action due to the Kijun and Tenkan acting as resistance, the Kumo is still bearish heavy resistance, and the ADX is bearish as well.
In conclusion I think the price could move upwards to the top of the wedge and bounce off the .382 (short term) Fibonacci level.
TRX Price AnalysisTRX is forming a falling wedge after some selling off the price tested the bottom of the kumo and has shown it is currently acting as support. This is witnessed by the wick on the daily candle.
The stochastic RSI as well as the RVI may be forming double bottoms.
TRIX further confirms that these are heavily oversold conditions and although there hasn't been a bull cross I would expect one over the next few days.
QTUM Price AnalysisRight now the price is precariously balanced on the .236 fib. It's last line of strong support before a large potential fall. Both the tenkan and kijun are working as resistance.
The stochastic RSI is tightening and nearing past support.
DIs are curling in a bearish direction and the ADX indicates the trend isn't very strong at the moment. But selling pressure is greater than buying.
The RVI is quite low which tells us the selling momentum and volatility is decreasing.
I would not expect any large price movements upward.
