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USDCHF Symmetrical Triangle|Low Volume|Apex|Breakout Imminent Evening Traders, Today’s Technical Analysis – USDCHF- a clear symmetrical triangle at pay, price is approaching its apex before an imminent break. Points to consider, - Trend Bullish (Consecutive higher lows) - Support and Resistances converging - RSI neutral (Above 50) - Stochastics in upper regions - Volume declining The immediate trend is bullish with consecutive lower highs from local bottom. Price is finding its equilibrium in this larger symmetrical triangle as support and resistance converge. The RSI is neutral above 50 whilst the stochastics is in the upper regions, an indication of buy momentum still being present. Volume is clearly declining as price is reaching its apex of the symmetrical triangle; this is an indication of an influx in volume. Overall, in my opinion, a breakout is imminent, very tradeable, price is coming close to its apex as support and resistance converge. What are your thoughts? Telegram Link in Bio – Please Join :) And remember, “You become fearful the moment you identify with fear. But once you begin seeing it as an impersonal changing phenomenon, you become free.” ― Yvan Byeajee
by AzizKhanZamani
ETHBTC Bull Flag| S/R Flip| Support Confluence| Pull Back Entry Evening Traders, Today’s Analysis – ETHBTC – forming a potential bull flag above a key level, volume influx is needed for confirmation, Points to consider, - Trend bullish - Confirmation of S/R Flip - Bull Flag confluence ( .382 Fibonacci) - RSI neutral - Stochastics above 50 - Volume declining ETHBTC's trend has been bullish, breaching a very key level with consolidation above structural resistance. A bull flag is likely forming, will be valid as long as the .382 Fibonacci holds which is in confluence with the now probable support upon a retest (S/R Flip). The RSI is quite neutral sitting at 50; it does have a higher low projection using the trend line as a guide. Stochastics on the other hand is trading just above 50, indicating buy pressure coming in. Volume is clearly low, an influx will be needed for a confirmation if a true bull flag and a continuation in the trend. Overall, in my opinion, the .382 Fibonacci needs to hold which is aligned with the S/R flip. The technical target of the bull flag is aligned with local resistance. What are your thoughts? Please leave a like and comment, And remember, “I know from experience that nobody can give me a tip or a series of tips that will make more money for me than my own judgement.” - Jesse Livermore
Long
by AzizKhanZamani
EURUSD Multi Month Resistance| Volume Climax| ApexEvening Traders, Today’s Technical analysis will focus on EURUSD pairings, a clear monthly resistance pushing price down while support holding true – price is nearing its APEX. Points to consider, - Trend bearish (consecutive lower highs) - Multi-Month Resistance line respected - Structural support tested - RSI neutral - Stochastics in the lower regions - Volume climax evident EURUSD trend has been bearish over an extended period of time – putting in consecutive lower highs as price respects its multi-month resistance line. A break of this resistance line will allow structural support to hold true. Price is travelling into its apex, - a breakout is imminent. The RSI is below 50, quite neutral, no clear divergences have been set, previous divergence played out bullish at structural support. Stochastics on the other hand is in the lower regions; momentum is stored for an upside move. Volume climax nodes are evident, sign of seller exhaustion, temporary bottom is in until price finds its equilibrium which will coincide with the apex. Overall, in my opinion, EURUSD will have a break in the coming years as support and resistance levels converge. A break of multi month resistance will likely push EURUSD in to its local resistance. What are your thoughts? Please leave a like and comment, And remember, " Only enter a trade after the action of the market confirms your opinion and then enter promptly" - Jesse Livermore
by AzizKhanZamani
2
NCLH a buy or sell?NCLH has been an amazing swing trading stock buying a sub $10 and selling at 30% gains when selling between mid $11 to high $12. Overall there’s a lot of sell pressure happening. As seen in the graph the purple box is a trading range back from it hitting its massive sell hitting 7.13 on match 18. I see this time dumping more till $6-$7 range than a good buy to sell back at $8-high $9. A cross over on macd might happen by Thursday and it is overbought on the rsi
NYSE:NCLHShort
by nathanielx9
BTCUSD FULL ANALYSISWelcome back traders! We are going to look at BTCUSD today on the monthly, weekly, daily, 12h, and 4h. We will look at Simple Moving Averages(SMA's,) Exponential Moving Averages(EMA's,) Oscillators, Visible Range Volume Profile(VPVR,) and more! MONTHLY The giant pattern on the monthly points to $6,450. We want to see BTC stay above the 21 EMA, currently at $7,323. If we see a major breakout, clearing the 10 day SMA, currently at $8,350, would be indicative of further bullish activity, perhaps even a catapult to a new all time high. The Awesome Oscillator is decreasing at a decreasing pace, but still on track to hit zero. The last time the AO crossed from positive to negative (also at a decreasing rate of decline,) the bull cycle of 2019 began. WEEKLY There is Bullish Divergence on the weekly with the AO. The t3-cci oscillator is negative and increasing at an increasing rate, which is also bullish. The MACD_VXI appears to be beginning convergence, which would be bullish. RSI has locally bottomed at the price of $3,850, which could indicate a low. Currently, the price is resting just above the .382 Fibonacci retracement from $13,800. Daily Our VPVR has the strongest Point of Control(POC) at just above $7,200, with the highest volume node ranging from $7,150 to $7,350 (this indicates a likely strong area for support and resistance.) If these levels break, the next major area for support is just above $6,600. It is also noteworthy that RSI is above 53, which has been a significant level for bullish activity. Lastly, the 50 day SMA is acting as a resistance, and will need to be concurred for further bullish activity. 12H This zoomed out chart of the 12H gives us a target if bullish activity continues, with a POC just about $7,900. The next challenge will be the 100 day SMA at $7,475, which is acting as resistance. 4H Although there is an ascending bearish wedge forming, there are bullish signs on this chart as well. The 10 day and 200 day SMA's just crossed on April 5, and BTC has recently crossed the 200 day SMA as well. Despite the T3-CCI indicator originally heading towards zero, it appears to be curving back up. The AO is decreasing less than it has been, and may see a change in direction soon as well. SUMMARY Long Term Bitcoin is holding up in the long term, and overall bullish. We want to stay above $6,450 according to the giant patterns on the monthly and weekly charts, and we are holding strong above our significant long term POC's. The support along the .382 FIB is a great sign on the weekly, and $7,900 is the next target, assuming bullish activity continues. Short Term The cross between the 200 day SMA and 10 day SMA is a bullish sign, especially with the recent overcoming of the 200 day SMA. The bearish wedge forming on the 4H is a concern and should be monitored closely. Ideally, the price will remain above $7,150 for further bullish activity. Disclaimer: This is NOT trading advice, NOR financial advice! These are merely my opinions that I have posted for educational purposes ONLY. Trading comes with great risk, which should be managed carefully. You should never trade anything more than you are willing to lose. I hope you all kill it, but I am not responsible for any financial loss or damages. Thanks for reading!
BITSTAMP:BTCUSDLong
by CryptoRichCrypto
5
EOSUSDT S/R Flip Retest|Ascending Support|Structural Resistance Evening Traders, Today’s Technical Analysis will focus on EOSUSDT, a confirmed S/R flip, price is holding a key level as it respects an overlying Fibonacci Extension, 1.272. Points to consider, - Key resistance breached - S/R flip confirmed - 21 MA Support - RSI broadening wedge - Stochastics in upper regions - Low volume EOSUSDT has breached a key resistance and has respected the 1.272 Fibonacci Extension; price is likely to consolidate in this region before a continuation. A confirmed S/R flip with a wick is evident, this is a sign that buyers are stepping in to hold price above a structural area. The key 21 MA has been support along the ascending support line, it must hold as a visual guide when testing upper regions. The RSI is in a broadening wedge pattern, a break below will test its median support line. Stochastics on the other hand is trading in the upper regions, can stay here for an extended period of time however lots of stored momentum to the downside. Volume nodes are still quite low, bearish sign for the bulls, an increase must be associated with bull momentum – otherwise EOSUSDT is prone to roll over. Overall, in my opinion, EOSUSDT has broken and confirmed immediate support of a key level. Price is likely to test Fibonacci Extensions on its way up to structural resistance – the bearish argument is low volume that needs to increase in the coming days. What are your thoughts? Please leave a like and comment, And remember, “What has happened in the past will happen again. This is because Markets are driven by humans and human nature never changes.”
Long
by AzizKhanZamani
2
BCHBTC Low Volume|Bearish Pennant|Apex| Breakout imminent Evening Traders, Today’s technical analysis will be on BCHBTC, trading very close to its apex with a breakout being imminent. Points to consider, - Local Trend bearish - Price trading near apex - RSI testing support - Stochastics projected down - Volume extremely low - Local support - .50 Fibonacci BCHBTC’s local trend has been bearish, consecutive lower highs evident; this can be considered as a bearish pennant, a continuation pattern. Price is coiling up near its apex, support and resistances are converging, decision time is upon fruition. The RSI is testing its support; break will highly coincide with further downside momentum, similar case with the stochastics that’s already projecting down. The volume is clearly below average, this signals a breakout being imminent from this current formation. A break bearish needs to close below the .50 Fibonacci Level, this will confirm continuation in the trend, as local support is breached. Overall, in my opinion, BCHBTC is upon a break, this current formation can be regarded as a bearish pennant as the trend is clearly making consecutive lower highs. What are your thoughts? Please leave a like and comment, And remember, Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
Short
by AzizKhanZamani
GBPUSD Structural Resistance| Lower lows| Oversold Bounce Evening Traders! Today’s Technical Analysis will be on a currency pair - GBPUSD, with a strong oversold bounce, now left trading within a small range. Points to consider, - Macro trend bearish - Structural resistance confluence - Support confluence - RSI testing resistance - Stochastics in lower regions - Volume influx evident GBPUSD has been establishing consecutive lower lows as presented by the down sloping trend line. Structural resistance is in confluence with the .618 Fibonacci, a test of this level will likely increase sell pressure, confirming an S/R flip. Support is also in confluence – with an oversold bounce, buy pressure is evident with long wicks, the 1.14 Fibonacci Extension is in clean confluence with the down sloping trend line. The RSI is testing resistance; a break will coincide with price testing structural resistance. Stochastics on the other hand is in lower regions, can stay trading here for a while, however lots of stored momentum to the upside. Volume influx is evident, engulfing all previous nodes, further volatility is likely after leaving the .382 and the .50 Fibonacci range. Overall, in my opinion, GBPUSD may trade in a range before the next volatile move. Due to the macro economic situation it is likely to test lower Fibonacci extension levels. What are your thoughts? Please leave a like and comment, And remember, “Don’t blindly follow someone, follow market and try to hear what it is telling you.” ― Jaymin Shah
Short
by AzizKhanZamani
4
EOSUSD Trend Line Respected| Local Resistance Confluences Evening Traders! Today’s analysis will focus on EOSUSD which has been in a defined downtrend, currently testing a key resistance area that has multiple confluences. Points to consider, - Bear Trend – Consecutive lower highs - Resistance confluences (21 EMA, local resistance. .236 Fibonacci) - Define down sloping trend line - RSI testing resistance - Stochastics neutral - Low volume – influx imminent EOSUSD has put in consecutive lower highs; price is currently testing local resistance that is accompanied with multiple confluences. In this area the .236 Fibonacci and the 21 EMA in convergence are giving clear sell pressure. The down sloping trend line has been respected with multiple touches; a rejection from current local resistance will likely mean another retest of the trend line. The RSI is testing median resistance, coming out of oversold conditions – quite neutral at current given time. Stochastics is also neutral, has stored momentum in both directions. EOSUSD has clear dry volume with a recent bull pump failure; an influx will be imminent. This will be in conjunction with price direction. Overall, in my opinion, EOSUSD needs to break resistance confluence with multiple higher lows to establish a trend change. However a rejection here will be in confluence with a volume spike, leading to a probable retest of the lower trend line. What are your thoughts? Please leave a like and comment, And remember, “Never let a win go to your head, or a loss to your heart.” – Chuck D.
BITFINEX:EOSUSD
by AzizKhanZamani
BCHUSD Point of Control|21 DEMA| Structural ResistanceEvening Traders, Today’s analysis will be on BCHUSD, testing a key resistance (21 DEMA) in a defined down trend. This current trade location is in confluence with the POC, a breakdown will just be another lower high. Points to consider, - Trend bearish – Consecutive lower highs - 21 DEMA, current resistance - Local support at yearly lows - RSI approaching resistance - Stochastics in upper regions - Volume declining Bears are in clear control with consecutive lower highs in place, a very good visual guide is the 21 Daily EMA, acting as strong resistance. BCH is currently in a very key trade location with multiple confluences such as the POC and the .236 Fibonacci – holding price down. A rejection will keep BCH on course to testing yearly lows again – next local support. The RSI is nearing resistance; a decisive break will be in confluence with the price breaking the 21 DEMA – staunched resistance. The Stochastics on the other hand is in the upper regions, can stay trading here for an extended period of time, however lots of stored momentum to the downside. Volume nodes are clearly declining, signalling an impulsive move is imminent, either up or down, it will dictate the immediate trend. Overall, in my opinion, BCHUSD can break the 21 DEMA and still place a lower high. It needs to break structural resistance with a consolidation above for a confirmation of a trend change. What are your thoughts? Please leave a like and comment, And remember, The market can stay irrational longer than you can stay solvent. - John Maynard Keynes
COINBASE:BCHUSDShort
by AzizKhanZamani
LINKBTC Key Levels| 200 DMA&DEMA | Low Volume Evening Traders, Today’s Technical Analysis will focus on LINKBTC holding local support as the 200 DMA and DEMA approach – historically being pivot points. Points to consider, - Trend bullish – Consecutive higher lows - Local support holding - Resistant to break for continuation - RSI in lower regions (Flat) - Stochastics in lower regions (Flat) - Volume below average LINK’s trend has been bullish with consecutive higher lows being established with impulsive bull moves. Current local support is being held with the 200 DMA and DEMA approaching, historically being pivot points. A break of these technical indicators will break the higher low projection for LINK. A break and close above resistance will continue the bullish bias, LINK will then likely take out highs and enter a blue sky breakout. The RSI is in lower regions, has been trading flat and will remain flat until a decisive move. Stochastics is also flat in the lower regions, can stay trading here for an extended period of time with lots of stored momentum to the upside. The volume nodes are well below average, sign that a decisive move is imminent from current technical trade location. Overall, in my opinion, LINKBTC is holding a key support; the 200 DMA and DEMA are approaching and historically have been pivot points leading into impulsive bull moves. A close below however will greatly increase LINK’s probability of testing structural support which is in confluence with the 1.414 Fibonacci Extension. 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
by AzizKhanZamani
2
BHP Key 200 WMA| Oversold RSI| Volume Climax Evening Traders, Today’s analysis will focus on BHP, sellers are in complete control after breaking key technical levels. It has been rejected at a technical point that will dictate the overall trend in the coming weeks and months. Points to consider, - Strong bear break - 200 WMA – Current resistance - Local support respected - .618 Fibonacci in confluence - RSI coming of oversold - Stochastics in lower regions - Volume climax evident The trend is bearish for BHP, breaking key technical levels in the recent sell off. The 200 WMA is a vital level for the overall trend, current acting as resistance. Local support is in confluence with the .618 Fibonacci, breaking this level will target the 2.618 Fibonacci Extension. The RSI is currently extremely oversold; this is considered to be an oversold bounce if it recovers to neutral territory. Stochastics is in lower regions, can stay trading here for an extended period of time, however lots of stored momentum to the upside. Volume climax is evident; this suggests that the temporary bottom may be in. If BHP puts in a lower high, it will increase the chances taking local support out. Overall, in my opinion, BHP has a clear level, 200 WMA, a break will increase the bullish bias as the .618 will hold true. A rejection will increase the bearish outlook, thus the first target being the 2.618 Fibonacci Extension. 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
ASX:BHP
by AzizKhanZamani
UBER Oversold Bounce| Structural Resistance| .50 Fibonacci Evening Traders, Today’s Technical Analysis will focus on UBER, with an insane oversold bounce, over 100% gain, currently testing a key resistance that will dictate the overall macro trend. Points to consider, - Oversold bounce still in fruition - Structural resistance in confluence - Stochastics projected up - RSI hitting resistance - Noticeable bull volume nodes - Daily lower high likely UBER is currently in an oversold bounce, testing a key structural resistance that is in confluence with the .50 Fibonacci level. The stochastics is projected up, still has more stored momentum to the upside whilst the RSI is testing its resistance. It is likely to break in conjunction with the upside momentum of the stochastics. There are noticeable bull volume nodes, driving the oversold bounce, this must sustain if structural resistance is to be broken. Overall, in my opinion, UBER is testing a critical level on the macro timeframe. A rejection will be in favour of the bears, putting in lower high. A break and consolidation however, will increase the likelihood of testing upper level, thus changing the macro structure. What are your thoughts? Please leave a like and comment, And remember, “In order to succeed, you first have to be willing to experience failure.” ― Yvan Byeajee
NYSE:UBER
by AzizKhanZamani
2
BTCUD Ascending Triangle|Structural Resistance|Apex| Low Volume Evening Traders, Today’s analysis will focus on Bitcoins immediate price action; it is consolidating under key resistance which is quite bullish, although the macro trend is still bearish. Points to consider, - Macro trend bearish - Consolidation under local resistance - Current support (100 and 21 EMA) - RSI respecting trend - Stochastics projected down - Volume declining BTC is still in a macro downtrend, putting in consecutive lower highs on the daily timeframe. Currently consolidating under local resistance, this can be seen as a bullish sign as buyers are willing to buy at these levels. Support is deemed from the 100 and 21 EMA, this is very close to the ascending triangle apex indicating a move is imminent. The RSI is respecting its trend, a break will test its support, if this occurs, BTC will follow for a retest of its ascending support line. Stochastics are projected down; the immediate momentum is to the down side, again putting more emphasis on BTC test its ascending support. The Volume nodes are declining; this indicates that volatility is around the corner as price is trading in its apex. Overall, in my opinion, BTCUSD is consolidating under local resistance in a probable ascending triangle. A break up will likely send price to structural resistance, a test of this level may reject BTC, thus putting in more emphasis on a bear flag (too early to tell at the moment). What are your thoughts? Please leave a like and comment, And remember, The market can stay irrational longer than you can stay solvent. - John Maynard Keynes
BYBIT:BTCUSD.PLong
by AzizKhanZamani
2
CGC Key Levels| Weekly Support| Lower High| Low Volume Evening Traders, Today’s Technical Analysis will be on CGC, bouncing of its all-important weekly support, currently facing resistance from the 21 EMA. It must break daily support, or this is simply another lower high. Points to consider, - Macro trend bearish - Weekly support respected - Daily resistance is a key level - RSI coming of oversold - Stochastics projected up - Volume below average - VPVR Flat CGC has been putting in consecutive lower highs on its macro time frame, a strong established bear trend. Weekly support held promptly, a sign of being a true trade location. Daily resistance needs to break for a confirmed trend change, failure will simply mean a lower high. The RSI is coming of oversold conditions, will most probably return to its neutral zone. Stochastics on the other hand still has momentum stored to the upside. The current volume is below average, CGC needs an increase in bull volume to test daily resistance- it is looking quite weak at current given time. VPVR is currently flat, means low volume of transactions at current range, CGC could trade in this region for a while. Overall, in my opinion, CGC needs to break daily resistance, failure will simple mean yet another lower high, thus lower price levels likely. What are your thoughts? Please leave a like and comment, And remember, “Trading doesn't just reveal your character, it also builds it if you stay in the game long enough.” ― Yvan Byeajee
C
by AzizKhanZamani
1
Silver Weekly Resistance| Oversold bounce|Macro Structure Evening Traders!, Today’s update will be on Silver, which has breached an important weekly support, now potential resistance upon a retest. Points to consider, - Trend bearish (lower highs) - Back test of Support likely - RSI in oversold conditions - Stochastics in lower regions - Volume climax evident - VPVR currently flat Silvers overall trend has been putting in consecutive lower highs, it broke a major high timeframe support with a gap open. Back test of this support will confirm a bearish retest, which will be extremely bearish. The RSI is in oversold conditions, leading silver to a probable oversold bounce into weekly resistance. Stochastics is in the lower regions, can stay trading here for an extended period of time, however lots of stored momentum to the upside. Volume climax is evident, with above average nodes, sign that a temporary bottom may be in. The VPVR is currently flat, this is within the open gap region where silver is likely to fill for a retest. Overall, in my opinion, Silvers oversold bounce is probable for a retest of weekly resistance; a rejection will be very bearish for the overall macro structure. What are your thoughts? Please leave a like and comment, And remember, Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
AMEX:SLV
by AzizKhanZamani
ETHUSD Range Median| Local Trend| $100 Psychological LevelEvening Traders, Today’s Technical analysis will focus on distinctive levels on ETHUSD, currently holding its local trend line, a break will likely send it to lower support ($100 psychological level). Points to consider, - Trend bearish - Local trend being tested - Confirmed bearish retest - RSI testing support - Stochastics in lower high projection - Clear decline in volume ETHUSD’s immediate trend has been bearish with consecutive lower highs in projection; a break down will establish yet another lower high. The local trend line is being tested; this is at range median between structural resistance and $100 Psychological support. A re-test of the psychological support will increase if this trend line does not hold. ETHUSD has had a confirmed bearish retest with a wick, this signals strong sell pressure coming in. The RSI is currently testing support; a break of this level will be in synch with a break of the local trend line. The Stochastics is currently trading in a lower high projection, still with stored momentum to the downside. ETHUSD also has clear declining volume; this signals an influx being probable, especially when testing key pivot levels. Overall, in my opinion, if the local trend line breaks, ETHUSD is likely to re-test the $100 psychological level, if buy pressure fails to come in, then this gives us a short opportunity. What are your thoughts? Please leave a like and comment, And remember, “Amateurs think about how much money they can make. Professionals think about how much money they could lose.” – Jack Schwager
BYBIT:ETHUSD.PShort
by AzizKhanZamani
6
IIPR Pivot Points |Oversold Bounce| Structural Support Evening Traders, Today’s analysis will be on IIPR, breaching structural support and currently is testing pitchforks median line (resistance) Points to consider, - Bearish trend, consecutive lower highs - Median line tested - Structural support breached - RSI recovering from oversold - Stochastics in lower regions - Volume climax evident IIPR’s overall trend is bearish, putting in consecutive lower highs on the macro timeframe. Current resistance is being tested (Median line), it is important to break this level in order to test previous support. The Structural support breached is a major level to close above; a retest and failure will confirm a bearish retest. RSI is recovering from oversold conditions, this has lead price to an oversold bounce. Stochastics on the other hand is trading in the lower regions, can stay trading here for an extended period of time, however lots of stored momentum to the upside. Volume climax is evident, which puts emphasis on a temporary bottom, this will get taken out if a bearish retest is confirmed. Overall, in my opinion, IIPR must break and close above structural resistance, failure will be very bearish. What are your thoughts? Please leave a like and comment, And remember, “You have power over how you'll respond to uncertainty.” ― Yvan Byeajee
NYSE:IIPR
by AzizKhanZamani
GUESS Key Level Broken| Bearish Retest| Volume Climax Evening Traders, Today’s technical analysis will be on GUESS, breaking major structural support and confirming a bearish retest, Points to consider, - Bear Trend (consecutive lower highs) - Structural support breached - Confirmed S/R Flip - RSI oversold - Stochastics in lower regions - Volume climax evident GUESS has been in an established bear trend with consecutive lower highs, a new local low has been confirmed with its recent wick down. Weekly structural support has been breached; this is a high timeframe support, broken with convincing volume with a confirmed bearish retest. Bulls were not able to break above the now resistance – confirming the S/R flip. RSI is currently oversold; a reversion back to neutral territory is highly probable. The stochastics on the other hand is in the lower regions, can stay trading here for an extended period of time, however lots of stored momentum to the upside. Volume climax is evident, signalling a temporary bottom is in; however this is likely to change due to the confirmed S/R flip. Overall, in my opinion, Guess is likely to test lower lows upon breaking key structural support. This is also combined with the greater economic situation; the retail sector is largely hit. What are your thoughts? Please leave a like and comment, And remember, “Don't blindly follow someone, follow market and try to hear what it is telling you.” ― Jaymin Shah
NYSE:GESShort
by AzizKhanZamani
2
AUSUSD 1998 Lows| Volume Climax| Technical Level Evening Traders, Today’s analysis will be on the Australian dollar, taking a hit after breaking local support. Currently it’s trading at a pivot point that needs to be defended by the bulls. Points to consider, - Consecutive lower highs - Local support breached - 1998 Lows tested - Volume climax evident - RSI oversold - Stochastics in lower region The Australian dollar has been putting in consecutive lower highs, a clear defined down trend on the monthly time frame. Local support was breached earlier this year, posting a 17% loss; it has officially tested its 1998 lows. This area is a strong trade location, pivot point, where a bounce was expected. The RSI is officially oversold; a return to neutral territory is imminent. Stochastics on the other hand is trading in the lower regions, can maintain here for an extended period of time, however lots of stored momentum to the upside. There is evident volume climax, signally seller exhaustion, allowing bulls to defend promptly. Overall, in my opinion, a relief rally is probable from such oversold conditions, this really all depends on the current macro situation. What are your thoughts? Please leave a like and comment, And remember, “Opportunities come infrequently. When it rains gold put out a bucket not a thimble.” – Warren Buffet
by AzizKhanZamani
4
ENJBTC 200 MA Fractal| Structural Resistance |Increase in volumeEvening Traders, Today’s technical analysis will focus on ENJBTC, noticeable bull volume coming in, it needs to close above structural resistance. Points to consider, - consecutive higher lows - Structural resistance to break - Respecting trend line and 200 MA - RSI projecting up - Stochastics in the lower regions - Noticeable bull volume ENJ has been putting in consecutive higher lows, it must maintain this projection for a bullish bias. Structural resistance to break, a close above this level will confirm the trend change. ENJ has been respecting its blue trend line, and bounced of the 200 MA, putting emphasis on a probable fractal, historically it leads to a pump. The RSI is projected up, neutral territory whilst the stochastics on the other hand trades in lower regions; it has stored momentum to the upside. There is a noticeable increase in bull volume which must sustain over the next couple days; this will increase the likelihood of breaking structural resistance. Overall, in my opinion, ENJBTC needs to break resistance with a close; the macro trend will then be changed with a confirmation. What are your thoughts? Please leave a like and comment, And remember, “Hope is bogus emotion that only costs you money.” – Jim Cramer
Long
by AzizKhanZamani
COTIBTC Falling Wedge| Low Volume | Retest of lows Evening Traders, Today’s Technical Analysis will focus on COTIBTC, trading in a probable falling wedge looking to retest local lows. Points to consider, - Trend bearish - Lower lows likely - RSI showing signs of divergence - Stochastics neutral - Volume Clearly declining COTI’s trend has put in consecutive lower highs after breaking the all-important 21 EMA. A lower low is likely as this will test structural support. The RSI is putting in higher lows, will eventually form into a bullish divergence upon a retest of lows (green area). Stochastics is currently neutral with momentum stored in both directions. Volume nodes are clearly declining; this signals a move being imminent in the near future. Overall, in my opinion, COTI is likely to retrace back to local lows for a retest, which will put in a bullish divergence, increasing the probability of breaking bullish from this pattern formation. What are your thoughts? Please leave a like and comment, And remember, Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
Long
by AzizKhanZamani
BTCUSD Local Resistance|Rising Wedge|Retest of lows?Evening traders, Today’s technical analysis will focus on a probable short trade on BTC; it is forming a rising wedge at local resistance, Points to consider, - Macro trend bearish - Local resistance - Rising wedge (bearish pattern) - Low volume - Stochastics in upper regions The trend and sentiment is very bearish as BTC fails to break local resistance, it instead puts in a nasty bull trap. BTC needs to close above local resistance for a bullish scenario A rising wedge is forming with valid trend line touches; this is a pattern that tends to break more often to the bearish side. The stochastic is in the upper regions, can stay trading here for an extend period of time, however lots of stored momentum to the downside. Volume nodes are very low; this is signal that an impulse in volume is highly likely. Overall in my opinion, a break and retest of local lows is probable, BTC has failed to break resistance, there is low volume signalling a move is imminent. And remember, “There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.” ― Yvan Byeajee,
BYBIT:BTCUSD.PShort
by AzizKhanZamani
2