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Daily review of BTC interval 4HHello everyone, let's look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price is moving above the local uptrend line. Let's start with the support line and as you can see the first support in the near term is $22972, if the support is broken the next strong support is at $22439. Now let's move to the resistance line, as you can see the first resistance is $23211, if you manage to break it the next resistance will be $23430, $23605 and $23780. Looking at the CHOP indicator, we see that most of the energy has been used up, the MACD is close to entering a local uptrend, while the RSI indicator is moving at the upper end of the range, which may indicate a small correction.
by cryptodailyuk
1
Price Breaking resistance after days of consolidation,***** ^-^Stock price still in consolidation, Price crossed over the 50emv and should be consolidation in the current support and resistance. For confirm position the price should rally the current resistance, 50emv crossover 200emm all together with the price for a confirmation for the execution. mentioned false breakout due to the consolidation period but it may not end up a false break out, if the stock consolidated for a two weeks periods or so on and the price rallied up or down it will be a strong confirmation Further study to be done. Thank you Localogist
NYSE:PWR
by localogist
LEOUSD : Good buy opportunity (bottom zone)Dear fellas, the price action for BITFINEX:LEOUSD has reached the bottom zone (i.e. around 0.961), this should be considered by traders as a strong support and give us a good buy opportunity . Furthermore, since the beginning of October, the price action seemed to be consolidating between the bottom zone and the first resistance around (i.e. 1.012). The 1.012 area could be considered as a first profit target before further upward movements. Risk management : to anticipate a potential downward movement, a stop loss can be set around 0.936 which is just below the last bottom (i.e. 0.941) on October 9th. Considering the actual entry price (i.e. around 0.961) and a second profit target (resistance around 1.071), this gives traders a good R/R ratio of about 4.83. If the price actually goes as predicted, traders should keep a trailing stop to keep some profit N.B : since it is difficult to predict every market movement, it is suggested for traders to only look for trades with a R/R ratio of at least 1:3. Remember, trading should be kept simple in order to survive. I will keep updating this trade according the future price action. Fellas, please support this idea with your likes, thanks. Best regards, Jordan
BITFINEX:LEOUSDLong
by jbadiabo