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Band Protocal (BAND) Break Out Retesting All Time Highs SoonIn the oracle realm of the cryptocurrencies Band Protocol is the second largest oracle coin right under the leader Chainlink (LINK) that is bound to be picked up and re-test those all time highs. Band Protocol has approached a very important level today as it has slightly broken out of $11.50 resistance zone that has held strong since September 4th 2020. We traded for at a high of $11.80 before coming back down to current levels. Today we hit the 0.5 Fibonacci Retracement level and now we're trekking towards the 0.618 Fibonacci level putting us at around $12.25 for our next target. We also hit a daily bullish divergence on the MACD as well indicating we may be positioned for a strong breakout within the next week or two. Band Protocol only has a market capitalization of around 230 million dollars while Chainlink's is around 8.9 billion dollars. As being the second biggest leader in the oracle space Band Protocol will be poised for a lot of growth this year especially as the use case for oracles continues to accelerate. Oracles allow ways for a blockchains and smart contracts to interact with external data. Oracles will be an essential part of the evolution of cryptocurrencies and growth of Decentralized Finance (DeFi). Band Protocol is the second biggest Oracle, still well under a 1 billion dollar market capitalization, and has a Coinbase listing. Keep Band Protocol on your radar for 2021. Current Support Level: $9.00 Current Resistance Level: $11.80 Cheers! Much peace and love!
COINBASE:BANDUSDLong
by peacefuljustin
4
BTCUSD: Breakout is coming. Buckle up,surge to 40k! Hello traders! BTCUSD is on the verge of a BREAKOUT! Here is why. Don't forget to like and follow. Technical Analysis works almost all the time. With Technical analysis, I can forecast accurately that BTCUSD will surge to 40k. This isn't a horoscope consultation. This is a technical analysis: 1. Effective Divergence Indicator(name will change soon) early breakout of neckline of Reverse H&S A reverse H&S is the bullish counterpart of the H&S. The EffDi gives an early break of its own neckline of the Rev. H&S, with yellow(strong) volume to accompany it. 2. Price has own reverse H&S Price is on the verge of confirming its own H&S on the chart. This is very bullish, as if the neckline is broken there will be a boom. 3. Elliot Waves: 5 waves complete The Elliot 5-wave pattern is completed, thus saying that the downtrend has ended. Rocket high incoming 4. Bitcoin makes Higher High(HH), Ethereum makes Lower High(LH) Usually, as many noticed, Ethereum performs better than bitcoin in pumps. Well, BTCUSD made an HH, while Ethereum made an LH. Today's rally is different. 5. MA Channel broken easily, then used as support Briefly after the rally to the upper consolidation, Bitcoin plummeted to the MA channel, which acted as support. The MA channel now acts as true support for the first time. 6. BTC rally structure different from before If we observe, the recent rally looked like a parabola, with a steep increase. Lots of bulls were there, with the highest rally volume since 2 weeks ago. This means that the bulls finally finished hibernating. 7. Huge Wedge consolidation, quiet volume. Breakout will be like a spring A wedge has formed since 3 weeks ago, and very big, halting the scary rallies and dumps. But the current rally is diamond-strong this time. Bears backed out hurriedly. Taking these into account, it is likely that the next Bitcoin run is ready. With all the institutions gobbling up cryptocurrencies, Bitcoin is set to ride the rocket. Get ready, buckle your seatbelts! Good luck!
COINBASE:BTCUSD
by Trader_ph
3
The next BTC price targetsHello, dear subscribers! There was a nice BTC price pump today, which made it clear that the price is going to reach the resistance line of the ascending trend channel. Bitcoin broke up the ATH, it's an overcome of the great psychological barrier. In addition, the BTC price bounced off the monthly CRP line, broke up the TC line and now is seeking for the pivot resistance(R1). We can define now 2 possible scenarios. The first one is the reaching the resistance line of the channel and breaking it up for the target $22000 pivot R1 level. The second one - reaching the channel resistance line and pullback to the support line with the $18800 level, after that the growth to the $22000 will continue.
by Skyrexio
1