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XTM - Breach of downtrend and launchTorum attracted a lot of attention once they were listed on KuCoin, pumped to a high and then fell subject to immense selling pressure. I've had my eye on this project for a while and it has been tempting to "buy the dip". Similar to many alts, $XTM has been heavily affected by the #Bitcoin downtrend since 69k and has struggled to regain solid footing in these turbulent market conditions. On February 7th, XTM broke its downtrend which started on November 19th, for the first time since the 29th of November. Unlike the initial breach in late November, this recent outbreak has shown more strength by successfully retesting the resistance and turning it to support. This shows buying pressure. It makes sense as after the outbreak, XTM had strong hidden bearish divergence and evidence of the MACD crossing over on the 12H time frame. Consequently, we saw a decrease of 34% (at the time of writing 2/18/22). Why didn't we buy XTM earlier? Why is it a more interesting trade now? 1) I have been looking for strength after the breakout from XTM, which did not happen in late November - early December. Breach of the trendline, no real consolidation and dip. 2) XTM is seeing its support hold better against selling pressure and the initial close of our most recent swing low (.2175) could be a good entry as if it forms a double bottom. 3) XTM has been having a relatively neutral month despite Bitcoin having a good start to February (despite price action in recent days!). Obviously, this lack of price increase is not a bullish sign, but what this along with volume tells me is that selling pressure has also substantially decreased. 4) Too much overall uncertainty in the market. XTM was recommended to me by a respected peer, who is bullish on the project's fundamentals. As you can see in the chart, I am bullish from a technical analysis point of view. This will all be heavily influenced by the price action of Bitcoin. Torum is a very low market cap cryptocurrency and thus categorically a higher risk choice of investment, please exercise risk management if you choose to invest. I am not a financial advisor, this is not financial advice. I was encouraged to start posting trading ideas as I have benefitted tremendously from studying the work of others in this community. I would love to learn more, if there is anything you would like to discuss XTM, other cryptos, stocks, or trade ideas please feel free to leave them in the comment section below. Have a good weekend, C
Long
by CViewsTH
Bitcoin Daily Analysis Update🟢 As expected BTC continues the downward movement and now testing the major support area. BTC needs to hold this support otherwise we see a quick sell-off. We may see a wick to $38,750 support area. The first resistance is $40,800 and $42,000 area. Keep an eye on the support level. Use the appropriate loss limit for your trades, which has a very high possibility of emotional movement in the market. ⚠ This Analysis will be updated. Amir Hossein 📅 02.20.2022 ⚠️ (DYOR)
Short
by Trader_Needs
3
ANKR Pre-programmedAnkr a tiny crypto operation. Its coin trades for pennies ($0.07). It has a $600 million market cap. But unlike a lot of tiny crypto operations, Ankr trades on the Coinbase (NASDAQ: COIN) platform. So it's easy to make small investments in Ankr if you want to. And there's a reason the people who run Coinbase wanted to add Ankr's coin. Venture capitalists and other intelligent investors are backing the coin, and management is very, very smart. Ankr was founded by Chandler Song, whose first job was working for AWS (Amazon Web Services). While doing that job, he got the idea of using peer-to-peer networks (blockchain) to power cloud networks. One of his bosses, Stanley Wu, was one of the engineers who designed the AWS platform in 2007. Those two men quit Amazon and co-founded Ankr.
COINBASE:ANKRUSDLong
by SLAZOJANYC
4
ANKR preprogrammed Ankr a tiny crypto operation. Its coin trades for pennies ($0.07). It has a $600 million market cap. But unlike a lot of tiny crypto operations, Ankr trades on the Coinbase (NASDAQ: COIN) platform. So it's easy to make small investments in Ankr if you want to. And there's a reason the people who run Coinbase wanted to add Ankr's coin. Venture capitalists and other intelligent investors are backing the coin, and management is very, very smart. Ankr was founded by Chandler Song, whose first job was working for AWS (Amazon Web Services). While doing that job, he got the idea of using peer-to-peer networks (blockchain) to power cloud networks. One of his bosses, Stanley Wu, was one of the engineers who designed the AWS platform in 2007. Those two men quit Amazon and co-founded Ankr.
COINBASE:ANKRUSDLong
by SLAZOJANYC
1
VECHAIN DAILY ANALYSIS🟢 #VET has broken the bearish trend line and is maintaining this range and re-testing the trend line. Price has reacted positively to the 0.382 Fibonacci level and is expected to be moving towards the resistance shown in the chart. Otherwise, the process will fall to the support level and it will be decided again to continue the process. Use the appropriate loss limit for your trades, which has a very high possibility of emotional movement in the market. ⚠ This Analysis will be updated. 🟢Amir Hossein 📅 02.19.2022 ⚠️ (DYOR)
by Trader_Needs
5
ENJIN COIN DAILY ANALYSIS ENJUSDT (ENJIN COIN ) 💹 Time Frame: Daily (Update) ➖➖➖➖➖➖➖➖ 🟢ENJ took a strong rejection from the major resistance zone around $2.16 - $2.25. Also, there's a supporting uptrend line, which can act as a support in the future. Around, $1.43 - $1.50 is the next support area where you can look for buying opportunities. Let's see what is going to happen in next coming days? 🟢 This Analysis will be Updated Amir Hossein 📅 02.12.2022 ⚠️ (DYOR)
Short
by Trader_Needs
3
$MASK/USDT 4h (#BinanceFutures) Rising wedge breakdown & retestMask Network got rejected on 100EMA resistance and seems likely to continue with the downtrend until it regains it. mask.io If you are not used to operate bearish set-up, you can use the targets to buy in Spot instead Current Price= 5.996 Sell Entry= 6.069 - 6.488 Take Profit= 5.054 | 4.316 | 3.677 Stop Loss= 7.261 Risk/Reward= 1:1.25 | 1:2 | 1:2.65 Expected Profit= +19.50% | +31.25% | +41.43% Possible Loss= -15.66% Fib. Retracement= 0.786 | 1.272 | 1.764 Margin Leverage= 1x Estimated Gain-time= 2 weeks Contracts: #ERC20 0x69af81e73a73b40adf4f3d4223cd9b1ece623074 #BEP20 0x2ed9a5c8c13b93955103b9a7c167b67ef4d568a3 #Polygon 0x2b9e7ccdf0f4e5b24757c1e1a80e311e34cb10c7
Short
by TradingOn
2