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Stochastic Oscillator

BTC Trade Setup|Ascending Triangle|Resistance|Low Volume Evening Traders! Today’s TA will focus on a probable trade setup – two key levels to watch are the structural resistance and the ascending support. Points to consider, - Consecutive higher lower - Structural resistance to break - Ascending support respected - RSI diverging - Stochastics in an equilibrium - Volume declining BTCUSD has been trading with consecutive higher lows indicating more buy pressure present then sell pressure, in other words, bulls are willing to buy at these levels. The structural resistance is a very key level to break; it has now been tested three times. BTCUSD has been respecting the ascending support (Testing 50 MA currently), a break of this line will negate the trade, and a retest of structural support is then more likely. The RSI is diverging from price, putting emphasis on a probable bullish divergence if another lower low is set. Stochastics is in a probable equilibrium, closing on its apex, a break in momentum is probable in either direction. The volume profile is clearly declining, signalling a move is imminent; this validates the theory of trading in a probable pattern. Overall, in my opinion, a trade setup for a continuation may be at play if structural resistance is broken. What are your thoughts? Please leave a like and comment, And remember, “Sheer will and determination is no substitute for something that actually works.” – Jason Klatt
BYBIT:BTCUSD.PLong
by AzizKhanZamani
1
NEO Break up or down? Ascending triangle|Structural Resistance Evening traders, Today’s technical analysis will be on NEOBTC which is testing its critical structural resistance that needs to break for a bullish bias Points to consider, - Structural resistance in confluence with .382 Fibonacci - Respecting ascending support line - RSI testing its resistance - Stochastics in lower high projections - Volume clearly declining NEO is testing an important level where a break will negate key technical indicators and change the overall maker structure. The Ascending support line that is being respected puts emphasis on a probable ascending triangle as NEO puts on consecutive higher lows. The RSI is near its apex where it must break its resistance for a bullish bias. Stochastics is currently neutral with stored momentum in both directions, it is however trading in a lower high projection. The volume is clearly declining signalling that an impulse move is imminent, which is true as NEO is in a trade location. Over all, in my opinion, NEOBTC is probable to break structural resistance, it needs to close above with a retest to confirm an S/R flip. What are your thoughts? Please leave a like and comment And remember, “Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.” ― Yvan Byeajee
Long
by AzizKhanZamani
1
SILVER Adam & Eve Pattern|200 MA Support|Resistance Zone Evening Traders! Today’s technical breakdown will be on SILVER on the weekly timeframe, forming a probable bottom that needs to close above structural resistance. Points to consider, - Adam and Eve pattern playing out - Clear resistance zone to break - 200 MA current support - RSI in a falling wedge - Stochastics neutral Silver’s trend is forming a probable Adam and Eve formation that is yet to be confirmed. It needs to close above its stanched resistance zone that has had many fake outs. The 200 MA is currently holding Silver as support, has been rejecting price since 2016, bulls are attempting to defend this level. The RSI is in a falling wedge formation that is yet to break; it will dictate this next impulse move on Silver. Stochastics on the other hand is quite neutral; momentum is stored in either direction with the immediate projection looking bearish. Overall, in my opinion, Silver needs to have a candle body close above structural resistance as this will avoid a fake out. It will also greatly increase the probability of the bottoming formation playing out. What are your thoughts? Please leave a like and comment, And remember If winning trades give you a buzz, you’re conditioning your mind to drool in anticipation of its next fix. And when it doesn’t happen, it’ll upset your expectations. If thrill naturally arises (which it will), feel it as it is, but then don’t cling to it
TVC:SILVER
by AzizKhanZamani
XEMBTC Bull Flag|Ascending Triangle XEMBTC Evening Traders! Today’s update will be on XEMBTC – trading at the top of its potential ascending triangle in a bull flag formation. Points to consider, - Trend respecting ascending support - 200 MA broke (S/R flip) - Structural Resistance zone to close above - RSI respecting Support - Stochastics bouncing - Volume profile climax evident The trend is respecting its ascending support, putting emphasis on the ascending triangle formation, which tends to be a bullish pattern. The 200 MA broke witch convincing volume, this average was a staunched resistance. Structural resistance on the other hand is to be closed above, this will negate overall bearish structure. RSI is respecting support, close below its trend line will increase a bearish bias. The stochastics is in the lower regions where it can stay trading for a while, however lots of stored momentum to the upside. Volume profile climaxes are evident, suggesting that XEMBTC is in a true trade location, an impulse move is likely. Overall, in my opinion, if this bull flag comes to fruition, XEMBTC is likely to reach its technical target as structural resistance will be negated. What are your thoughts? Please leave a like and comment, And remember, “Win, loss whatever emerges in the short-term, place and manage your next trades untouched, unattached... always keeping your eyes on the long-term picture.” ― Yvan Byeajee
XLong
by AzizKhanZamani
FANG Stocks| Facebook Oversold Bounce| Fed Rate Cuts?Evening Traders! Today’s technical update will be on Facebook with an oversold bounce coming to fruition, this is similar across the board due to the immense sell pressure. Points to consider, - Trend broke key 200 MA - Local resistance being tested - Local support at .50 Fibonacci - RSI approaching yearly lows - Stochastics in lower regions - Bull Volume influx Facebook broke its key 200 MA which plays a historical significance in determining a bear or bull trend. Currently the local resistance zone is being tested (market close) which is in confluence with the 200 MA. A close above will increase bullish bias. A rejection will technically put in a lower high, which is very bearish. Local support is at the .50 Fibonacci, this can be considered to be the nest logical support if the bears continue to control price. The RSI is trading at yearly lows; this level here technically indicates a short term bounce. Facebook’s stochastics is also trading in lower regions, can stay here for an extended period of time, however lots of stored momentum to the upside. Upon market close, there has been a clear influx in bull volume, signalling potential seller exhaustion for the short term, it would only be natural to have a relief rally at some point. Overall, in my opinion, Facebook and stocks across the board have a high degree of probability in having in oversold bounce. Oscillators are extended, local resistances needs to break otherwise lower highs will be set, which is extremely bearish. Will Fed rate cuts save the economy again? Please leave a like and comment, And remember, “The obvious rarely happens, the unexpected constantly occurs.” – Jesse Livermore
NASDAQ:META
by AzizKhanZamani
XRPBTC Double Bottom? | Clear Resistance line to breakEvening Traders! Today’s chart update will be on XRPBTC, which is in a probable double bottom reversal pattern that needs confirmation. Points to consider, - Trend putting in clear lower highs - Double bottom evident (strong support) - Resistant line to break - RSI to break resistance - Stochastics in lower regions - Volume profile in synch - POC in double bottom region XRP has been putting in clear lower highs, until this projection is broken, bears are in control. Strong support has been tested in a double bottom manner which serves as a reversal pattern. A break of the clear resistance line will increase the probability of a double bottom. The RSI needs to break its resistance; this historically leads to an impulsive bull move into the resistance line. The stochastics is currently trading in the lower regions, can stay here for an extended period of time, however lots of stored momentum to the upside. XRP has a clear volume profile which is in synch with price action, further putting emphasis on the double bottom formation. The POC is in confluence which signals strong buying and selling at current level. Overall, in my opinion, the double bottom will only be confirmed with a break and close above the resistance line, that will lead to negating the bearish structure. What are your thoughts? Please leave a like and comment, And remember, “Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager
by AzizKhanZamani
2
BNBBTC Golden Cross| Inside bars| Hidden Bullish Divergence Evening Traders! Today’s update will be on BNBBTC with an initial rejection from structural resistance, it is now resting on the 200 MA. Points to consider, - Trend putting in a lower high - 200 MA as support (Golden Cross) - Structural resistance as target - Hidden bullish divergence - Stochastics in lower regions - Healthy volume profile BNB is putting in a probable higher low after initial strong bear impulse, currently testing a critical trade location with inside bars. The 200 MA is an importance level of support, currently being held with an official golden cross. Structural resistance is current target, a close above will be very bullish as this will put in a new higher high. The RSI has a hidden bullish divergence as it puts in lower lows whilst price action puts in higher lows from yearly lows. Stochastics is currently trading in the lower regions, crossing bullish, with lots of stored momentum to the upside. The Volume profile looks healthy, strong bull volume nodes present. An impulse bull break of the daily inside bars will maintain further bull volume. Overall in my opinion, BNB is likely to be supported here as the 200 MA is a key level. There are bullish signs in confluence; a retest of structural resistance is probable. What are your thoughts? Please leave a like and comment, And remember, “Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.” ― Yvan Byeajee
Long
by AzizKhanZamani
INO Broadening Wedge | Coronavirus Vaccine?Evening traders! Today’s update will be on INO, trading in a descending broadening wedge which serves as a bullish pattern. Points to consider - Trend trading in a lower high projection - Broke 21 week MA (S/R Flip) - Structural weekly resistance - RSI resting on support - Stochastics neutral - Clean volume influx INO is trading in a bear trend putting in consecutive lower highs in a macro broadening wedge. The 21 weekly EMA has broken and confirmed as recent support within the larger formation. Macro weekly structural resistance is a key level to close above; INO will be extremely bullish if this comes to fruition. The RSI is currently resting on its support; a break below will increase bearish bias and INO being rejected from current resistance. Clean volume climaxes are evident; this is probably due to fundamentals as the company is trying to formulate a vaccine for the corona virus. Overall, in my opinion, from a technical stand point, this is a classic descending broadening wedge. A close above weekly structural resistance will increase the likely hood of INO meeting the technical target. What are your thoughts? Please leave a like and comment, And psychologically, “Remember that stocks are never too high for you to begin buying or too low to begin selling.”
NASDAQ:INOLong
by AzizKhanZamani
BTC Oversold Bounce|Oscillators exhausted|Probable higher HighEvening Traders! Today’s update will be on BTC which has negated the cup and handle formation (see chart linked) and now is in an established down trend. Due to the immense selling pressure, BTC is probable to have an oversold bounce cooling of oscillators such as the RSI. Points to consider, - 21 EMA broken - Structural support intact - RSI oversold - Stochastics in lower regions - Heavy bear volume Bitcoin has broken all key moving averages on the 240 timeframe; this includes the 21 EMA that kept the recent bull trend together. Major daily structural support is intact; a break of this level will increase probability of further downside. The RSI is clearly oversold indicating a probable pull back in BTC; if this was to come to fruition it will increase the chances of a higher low in the trend. Stochastics is currently in the lower regions, can stay trading here for an extended period of time, however lots of stored momentum to the upside. Evident bear volume has cascaded BTC, a proper climax is likely to confirm a temporary bottom. Overall, in my opinion, bears are likely to over-extend on selling and create an oversold bounce, cooling of oscillators and putting in a potential higher low. What are your thoughts? Please leave a like and comment, And remember “There is a huge amount of freedom that is derived from not fighting the market.” ― Yvan Byeajee
BYBIT:BTCUSD.P
by AzizKhanZamani
1
S&P 500 Gap Down Open? | Oversold Bounce Imminent!Hello Traders! Today’s update will be on SPY, a big gap down with immense selling pressure coming in from a technical standpoint. An oversold bounce will be imminent due to overextended oscillators Points to consider, - Key Moving Averages broken - Local support at .50 Fibonacci - RSI oversold - Stochastics in lower regions - Volume Climax nodes SPY broken all moving averages with this impulse move down, clear increase in selling pressure as bulls fail to make a higher low, confirming the bearish divergence. Local support is situated at the .510 Fibonacci; a gap down open will target .618 as next critical support. The RSI is clearly oversold, indication of over extension, increasing the probability of an oversold bounce. Stochastics is currently in the lower regions, can stay trading here for an extended period of time, however lots of stored momentum to the upside. SPY has clear volume climax nodes, signalling seller exhaustion, another indication of a probable oversold bounce. Overall, in my opinion, a gap down open will increase the probability of testing the .618 Fibonacci, oscillators by then will be well overextended, putting much more emphasis on a bounce. What are your thoughts? Please leave a like and comment, And remember, “Genuine acceptance that there will be losses on your way to market success will greatly decrease the hurt when they eventually come.” ― yvan Byeajee
AMEX:SPY
by AzizKhanZamani
2
Structural Resistance| 200 MA| Higher Lows Hello Traders! Today’s update will focus on ZRXBTC which has broken the 200 MA, structural resistance still in play Points to consider, - ZRX respecting trend line - Structural resistance to break - 200 MA support - RSI resting on support - Stochastics in lower regions - Volume below average ZRX has put in consecutive higher lows in place, respecting the underlying support line. Structural resistance is yet to break; it needs to be confirmed with a retest to avoid a false break. The 200 Moving Average has been broken and is now tentative support which must hold true for upcoming weeks. The RSI is neutral, resting on its support whilst the stochastics is currently in the lower regions, can stay trading here for an extended period of time. Volume nodes are clearly below average, needs to increase upon a bull break of structural resistance for healthy continuation. Overall, in my opinion, Structural resistance needs to break with a confirmed retest to avoid a false break; this will negate the overall bearish market structure. What are your thoughts? Please leave a like and comment, And remember, “The mind is a fascinating instrument that can make or break you.” ― yvan Byeajee,
by AzizKhanZamani
CGC Probable Higher Low| Structural Resistance to Break!Evening Traders, Today’s update will be on CGC, clear levels to watch to dictate the trend in coming weeks/months Points to consider, - Trend respecting .618 Fibonacci - Structural resistance to break - MA’s holding as support - RSI respecting support - Stochastics neutral - Volume below average CGC has respected its Fibonacci level, .618, signalling buy pressure coming in from structural resistance. A level yet to break will negate the bearish trend in CGC if a break and close above structural resistance comes to fruition. The Moving Averages is holding true as support, must remain when structural resistance is broken. The RSI is respecting its support signalling that the relative strength at current time is neutral; this is same with the stochastics. Volume is clearly below average, must increase if market structure is to be negated Overall, in my opinion, CGC has a clear resistance to break which will negate the bearish trend by putting in a higher high. Till then the macro bear trend is still intact What are your thoughts? Please leave a like and comment, And remember, “When you learn to let go of the need to be right, being wrong gradually lose its power to disturb you.” ― Yvan Byeajee
C
by AzizKhanZamani
7
LINK Symmetrical Triangle|Hidden Bullish Divergence|Low VolumeHello Traders! Exciting update today on LINKBTC which is looking quite bullish forming a symmetrical triangle in a blue sky breakout Points to consider, - Trend putting in consecutive higher lows - .236 Fibonacci – Local Resistance - 50 Moving Average, holding support - RSI travelling into wedge - Stochastics in lower regions - Volume declining LINKBTC broke structural resistance confirming the blue sky breakout with consecutive higher lows. It is now trading in a symmetrical triangle with a high probability of breaking bullish. Local resistance is from the .236 Fibonacci, looks quite weak compared to patterns support. The 50 Moving Average on the other hand is holding true after the first retest of the initial break. The RSI is travelling in a wedge and also diverging from price, confirming a valid hidden bullish divergence. Volume is clearly declining, signalling a break is imminent most likely to occur near the apex. Overall in my opinion, a break in either direction is probable due to clear support and resistance. There is however a higher probability of breaking bullish due to the nature of the uptrend. Volume will coincide with a breakout, confirming the pattern being true. What are your thoughts? Please leave a like and comment, And remember, “Focus, patience, wise discernment, non-attachment —the skills you acquire in meditation and the skills you need to thrive in trading are one and the same.” ― Yvan Byeajee
Long
by AzizKhanZamani
BTC Cup and Handle|Hidden Bullish Divergence|$12,780 TargetHello Traders! Today’s update will be on BTC, forming a bullish Cup and handle pattern that will only be confirmed upon a break of structural resistance. Points to consider, - Probable bullish pattern - Clear structural resistance - EMA’s barely holding BTC - RSI putting in lower lows - Stochastics in lower regions - Average volume BTC is currently trading in the handle of the probable bullish pattern yet to be confirmed. Structural resistance needs to break for confirmation with a technical target at around $12,780. The EMA’s are currently upon the cusp of crossing bearish, still trading in the handle where a break from this range will dictate the validity of the formation. The RSI is putting in lower lows, diverging from price, putting more emphasis on the hidden bullish divergence. Stochastics is currently trading in the lower regions, can stay trading here for an extended period of time, however lots of stored momentum to the upside. Volume is average, signalling no heavy sell off, a good indication for a true handle in this formation. The typical criteria that needs to be met in a cup and handle formation is the following 1) At least a 30% Run up from local lows (BTC over 50%) 2) A sell off from high 15-30% (BTC considered early in the handle ) 3) Bottom or floor of support (BTC Local Support) Overall, in my opinion, BTC has a high degree of confirming this probable cup and handle formation after breaking structural resistance. It is a strong contender for the criteria’s that need to be met, putting a technical target at around $12,780. What are your thoughts? Please leave a like and comment, And remember . If winning trades give you a buzz, you’re conditioning your mind to drool in anticipation of its next fix. And when it doesn’t happen, it’ll upset your expectations. If thrill naturally arises (which it will), feel it as it is, but then don’t cling to it.
Long
by AzizKhanZamani
2
S/R Flip| Hidden Bullish Divergence| Holding EMA’s| Scale InEvening Traders! Welcome to today’s update, focusing on XRPUSDT pairings, which is testing a critical support zone with an evident hidden bullish divergence. Points to consider, - Consecutive higher lows in place - Testing structural support (.382 in confluence) - Local resistance to break - EMA’s holding price - RSI diverging - Stochastics in lower regions - Volume below average XRP’s immediate trend has put higher lows, now currently testing structural support which must hold for a confirmed S/R flip. The structural support is in confluence with the .382 Fibonacci, signalling potential buyers stepping in. Local resistance is first target in this trend, XRP can range bound trade from structural support and local resistance. The EMA 26, must hold to avoid a bearish cross, it is important to note that it is also in confluence with structural support. RSI is clearly diverging from price confirming the hidden bullish divergence that is coming to fruition. The stochastics is currently in the lower regions, it too is diverging, putting more emphasis on the bullish divergence. Volume is currently below average, it will require an influx if the S/R flip holds true, volume will play a role in either direction. Overall, in my opinion, XRP is testing an important structural support with EMA’s in confluence. It is probable to see a push into local resistance due to the hidden bullish divergence. What are your thoughts? Please leave a like and comment, And remember, Beginner’s luck often stifles growth. Losses and failure are good for you.
Long
by AzizKhanZamani
BAT Structural Resistance|Respecting Support|Probable BreakoutEvening Traders! Today’s update will be on BATBTC, clearly supporting its trend line as projected direction is into structural resistance. Points to consider, - Trend putting in consecutive higher lows - Structural resistance to break - EMA’s providing current support - RSI respecting trend line - Stochastics neutral - Healthy volume BAT has been establishing consecutive higher lows; a higher high will confirm a change in the overall market structure. Structural resistance in a staunched level for the bulls to close above, this is an important level at the apex. The EMA’s are providing current support, must hold true when structural resistance is breached. RSI is respecting its trend line, looking healthy in this immediate uptrend into the apex. The stochastics on the other hand is neutral, stored momentum in both directions. Volume has been healthy, must sustain an increase upon break of structural resistance. Overall, in my opinion, BATBTC has a clear structural resistance to break in order to change overall market structure. A break needs to be backed with viable volume, target are at equivalent resistances. What are your thoughts? Please leave a like and comment, A remember, Trading is mostly a waiting game. if you want action that happens on your own terms, you’re in the wrong field.
Long
by AzizKhanZamani
BQXBTC Equilibrium| .618 Fibonacci| Break Imminent| Trade Setup Hello Traders!, Today’s update will be on BQXBTC, a clear equilibrium playing out after an initial bull move topping out, leaving a probable trade setup. Points to consider, - Equilibrium at apex - Price holding .618 Fibonacci (support) - .50 Fibonacci as resistance - EMA’s neutral - RSI in equilibrium - Stochastics projected downwards - Low volume BQXBTC is trading right into its apex, a breakout is upon fruition with a higher probability of breaking bullish as local support held true. This support level is in confluence with the Fibonacci retracement (.618 Level), signalling a strong potential base. The EMA’s are currently neutral, not a clear metric to determine if support or resistance as of now. The RSI is also travelling into its apex, signalling a move is imminent at any current given time. Volume has been clearly dry, important to note as an influx will be required when BQX leaves this current equilibrium. An entry is valid on the .618 Fibonacci level with a stop loss just under previous higher low. What are your thoughts? Please leave a like and comment, And remember, “Genuine acceptance that there will be losses on your way to market success will greatly decrease the hurt when they eventually come.”
BLong
by AzizKhanZamani
2
Diamond Continuation Pattern| Low volume| Bullish Continuation?Hello Traders, Today’s chart update will on BTC’s immediate projection- we have a probable diamond formation which serves as a bullish continuation pattern. Points to consider - Trend travelling into apex - .382 Fibonacci as local support - RSI respecting trend - Stochastics in lower regions - Volume declining - VPVR area being tested BTC is closing in on its apex signalling a break from this formation is imminent as local support and resistances converge. Local support is the .382 Fibonacci; BTC has been respecting this level as buy pressure is evident. The RSI is respecting its trend line, must hold for a bullish bias as this is in confluence with the stochastics being in lower regions. It can stay trading there for an extended period of time, however lots of stored momentum to the upside. Volume is clearly declining; increase is highly probable upon breaking out of the Diamond formation. The VPVR confirms the .382 being a strong trade location for buy pressure. Overall, in my opinion, a break bullish is probable as the Diamond Pattern serves as a bullish continuation pattern. BTC may have one more leg up before a proper correction as this trend is getting more extended. What are your thoughts? Please leave a like and comment, And remember, “The big ones take the psychology out of the game. Have a game plan, and stick to it.” Tim Erber
BYBIT:BTCUSD.P
by AzizKhanZamani
4
ZECUSDT Rising wedge | Bearish Divergence | Low Volume Hello Traders!, Today’s chart update will be on ZECUSDT – requested by a follower! - where a visible rising wedge is forming with a clear bearish divergence. Points to consider, - Trend traveling into apex - Bearish divergence visible - Local support at .382 Fibonacci - RSI putting in consecutive lower highs - Stochastics in upper regions - Volume declining ZECUSDT is clearly travelling into its apex, support and resistances converging, causing price to influx. There is a bearish divergence forming which signals buyers are potentially exhausted. Local support in confluence with the .382 Fibonacci is a potential trade location; ZEC has a high degree of probability in retracing to this level. RSI is putting in consecutive lower highs, clearly diverging from price, putting emphasis on the bearish divergence. The stochastics is currently in upper regions, can stay trading here for an extended period of time, however lots of stored momentum to the downside. Volume is clearly declining; signalling that a break is imminent, confirmation will be visible when volume increases. Overall, in my opinion, Zcash is close to its apex, a break down to support is probable, which is in confluence with the .382 Fibonacci. What are your thoughts? Please leave a like and comment, And remember, “A quiet mind is able to hear intuition over fear.” ― Yvan Byeajee
Short
by AzizKhanZamani
BTCUSD High Time Frame Breakout Imminent - IMPORTANT UPDATE Hello My Followers! Today’s update will focus on BTC’s higher timeframe, trading very close to its apex where key levels diverge - a trade opportunity is coming to fruition! Points to consider, - Strong bull trend on weekly - Key support/ Resistance converging - 21 week MA as key support - Volume currently below average - RSI broke key resistance - Stochastics in upper region Bitcoins weekly projection looks very bullish with another potential higher low established as price travels towards the down sloping resistance. Key support and resistance levels are converging, signalling a true apex in the chart leading to an imminent break. The 21 weekly moving average as of historic significance is very valid in determining whether we are in bull or bear market, right now is supporting price. The RSI has broken key resistance, a retest for confirmation is likely, and this is the first time since April that the RSI has breached it. The stochastics is trading in the upper regions, can stay trading here for an extended period of time, however lots of stored momentum to the downside. Volume is currently below average, an increase will confirm a true breakout from BTC’s apex, this will overall confirm the trend of BTC. What are your thoughts? Please leave a like and comment, And remember, “Those traders who have confidence in their own trades, who trust themselves to do what needs to be done without hesitation, are the ones who become successful. They no longer fear the erratic behavior of the market. They learn to focus on the information that helps them spot opportunities to make a profit, rather than focusing on the information that reinforces their fears.” Mark Douglas
BITFINEX:BTCUSD
by AzizKhanZamani
21
BNBBTC Structural Resistance| Strong Volume| 200 Daily MA! Today’s update will be on BNBBTC which is testing key structural resistance, a retest of the 200 MA is likely if BNB starts a pullback. Points to consider, - Structural resistance in confluence with .236 Fibonacci - 200 daily moving average broken convincingly - RSI trading in upper regions - Stochastics in upper regions - Volume clearly increasing BNB has a major structural resistance to break in order the put in a macro higher high, it is currently being tested with the initial pump. The 200 daily moving averages is a key level that BNB broke, a retest is likely and will serve as a good entry point. RSI is currently trading in overbought conditions; a correction back to neutral territory is probable before another leg up. The Stochastics is also trading in the upper regions, important to note that there is lots of stored momentum to the downside. Volume is clearly increasing, healthy sign for the bulls and must sustain for continued follow through. Overall, in my opinion, BNBBTC is at a critical point, keeping a clear bias a correction is likely from this structural resistance. A retest of the 200 daily moving averages will be healthy for a bullish continuation. What are your thoughts? Please leave a like and comment, And remember, “The mind is a fascinating instrument that can make or break you.” ― yvan Byeajee
by AzizKhanZamani
CURALEAF HOLDINGS| Local Support| Equilibrium| Bounce Probable Hello Traders! Today’s chart update will be on CURALEAF HOLDINGS which is testing its local support where a bounce is probable. Points to consider, - Clear equilibrium - Local support at .50 Fibonacci - RSI testing support - Stochastics in lower regions - MA’s supporting price CURALEAF is travelling between two clear supports and resistances closing in on its apex, where a breakout is imminent. Local support is in confluence with the .50 Fibonacci level, signalling that a bounce is probable, confirming the S/R flip. The RSI is testing its trend line that must hold, a break will increase the likely hood of CURALEAF breaking structural support. The Stochastics is currently in the lower regions, lots of stored momentum to the upside. Overall, in my opinion, a bounce back to resistance is probable only if the oscillators respect their current supports and lower regions. What are your thoughts? Please leave a like and comment, And remember, “The expectation that you bring with you in trading is often the greatest obstacle you will encounter.” ― Yvan Byeajee
CLong
by AzizKhanZamani
BTCUSD OVER 10K! Parabola | Blow of top?| .618 Fibonacci!Hello Traders! Today’s chart update will be on BTCUSD where we have a parabola forming, closing on a key Fibonacci retracement level indicating a probable blow of top. Points to consider, - Trend broke key resistance - .382 Fibonacci - Structural resistance in confluence with .618 Fibonacci - Strong support from 20 week MA - RSI entering overbought - Stochastics in upper regions BTC managed to break key resistance with a valid retest confirming the S/R flip on the .382 Fibonacci level before taking of further. The structural resistance can be the potential target for the parabola as this level is in confluence with the .618 Fibonacci. The RSI has broken key resistance and now has entered overbought conditions on the daily timeframe. The Stochastics is currently in the upper regions, it can stay trading here for an extended period of time, however lots of stored momentum to the downside. The 20 week Moving Average as a very good visual guide as it has held significance as support since bitcoins initial bull move, a break will essentially indicate a probable reversal. Overall, in my opinion, BTCUSD is in the latter part of the parabola, its apex ends exactly at the .618 Fibonacci where the potential reversal may occur. The 20 week MA is a strong indication of the current direction of this trend, a break of this will greatly increase the probability of a correction, which is imminent at some point. What are your thoughts? Please leave a like and comment, And remember, “Trading mastery is a state of complete acceptance of probability, not a state of fight it.” ― Yvan Byeajee
BYBIT:BTCUSD.PShort
by AzizKhanZamani
2