Get started

Stochastis

BTCUSDT Price Action Range| POC| Supply| Demand Evening Traders, Today’s analysis – BTCUSDT – trading in a clear price action trade where a rotation to the lows is probable, Points to consider, - Price Action Impulsive - Lower Daily Support (Demand) - Higher Daily Resistance (Supply) - POC and Range EQ Resistance - Low Volume BTCUSDT’s immediate price action is impulsive and is trading under a key level of resistance that has technical confluence with the POC and Range EQ, allowing for a bearish bias. The immediate objective is testing the range low, demand area of support, holding this level is critical for a bounce. The current volume profile is below average, an influx is highly imminent when testing a key trade location. Overall, in my opinion, BTCUSDT is a valid short with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps Thank you for following my work And remember, “You’re going to learn a million things, then you need to forget them all and focus on one.” - SunriseTrader
Short
by AzizKhanZamani
1
OCEANBTC Local S/R| .50 Fibonacci| 200 MA| Price Action Evening Traders, Today’s analysis – OCEANBTC- trading above Local S/R with technical confluence, a bounce here is probable. Points to consider, - Price action impulsive - Local S/R Support (200 MA& .50 Fibonacci) - Upper Local S/R Resistance - Oscillators Diverting - Volume influx OCEANBTC’s immediate price action is testing a key trade location with strong support; this allows us to have a bullish bias on the market. The Local S/R is current support; price action is likely to respect this level due to technical confluence with the .50 Fibonacci and 200 MA. The upper Local S/R is resistance, being the target; a bearish retest here is probable. Both oscillators are currently neutral; remaining in their respective bullish control zones will allow us to maintain our bullish bias. The volume profile has a valid volume climax, this is indicative of selling momentum being extended. Any bull moves now need to be backed with increase bull volume. Overall, in my opinion, OCEANBTC is a valid long with defined risk; price action is to be used upon discretion/ management of trade. Hope this analysis helps Thank you for following my work! And remember, Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
OLong
by AzizKhanZamani
XTZBTC Key Support| Local Resistance| Lower High?Evening Traders Today’s Technical Analysis will be on XZTBTC that has been in a strong bull trend, a correction and a retest of the .382 Fibonacci is likely before a continuation. Points to consider, - Bull trend intact – consecutive higher lows - Key support (.382 Fibonacci) - Local resistance to break - RSI correcting to support - Stochastics projected down - Above average volume - VPVR decreasing in volume XTZBTC has been putting in consecutive higher lows keeping the bull trend intact, it has tested the .392 Fibonacci as the new potential higher low. The .382 Fibonacci is a key support being in confluence with the structural horizontal. Local resistance is a key level to break for the market structure, this will allow XZT to leave current trade range. The RSI is correcting to neutral territory from overbought conditions, healthy to see in an uptrend. Stochastics on the other hand, is to correcting with stored momentum to the downside. Volume nodes are clearly above average, this needs to sustain for a continued bull trend. The VPVR shows low volume of transaction below key support, a break to this support can propel XTZ to test lower regions. Overall, in my opinion, XTZBTC is putting in a probable lower high in this will defined trend. A break of ley support will increase the likely hood of a higher low – first signs of a trend reversal. What are your thoughts? Please leave a like and comment, And remember, “What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.” – William O’Neil
by AzizKhanZamani