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JSE:BAT Brait Short Term AccumulationBrait has been in a long-term downtrend. After a substantial redistribution in 2018, the markdown continued in 2019 with a smaller redistribution also forming. Now we have seen another range forming that has broken the downward stride of the recent markdown. Some volume on the rallies and a spring-like action has made me biased that this is a small accumulation range. This backup in the longer-term downtrend could take us back to the previous smaller redistribution range and possibly the larger redistribution range and yearly pivot point. Divergence on the volume RSI also points to a short-term rally.
JSE:BATLong
by SteynTrade
ETHBTC Testing Critical Resistance Level!Hello Traders! Today’s chart update will be on ETHBTC which is testing a very critical resistance level in its established 4hr time frame bull trend. A break of this local resistance will increase the probabilities of testing major structural resistance, presenting a potential trade set up. Points to consider, - Trend line being respected - Price testing local resistance - Support found at .50 Fibonacci - Stochastics in upper region - RSI testing its resistance - EMA’s supporting price - Volume increasing - VPVR showing a decrease in volume of transactions ETH is looking very bullish as it respects its trend line, confirmed by three touches; this trend line comes perfectly into local resistance. This local resistance is a very critical level as a break will continue this bullish bias; a rejection will negate market structure, putting in a potential triple top. After initial bull impulse, support was found at the .50 Fibonacci Level, being in confluence with the trend line, this area was very strong for bulls who were able to continue the trend. The Stochastics is currently trading in the upper region where it can stay for an extended period of time; there is no evidence of downside momentum at current given time. The RSI is currently testing it resistance, coming closer into its apex, a move will be imminent very shortly. EMA’s are holding price support as it comes into local resistance; overall support is very strong for the bulls as the EMA’s are in confluence with the trend line. Volume itself is showing an increase, this needs to continue upon the break of local resistance to avoid the chances of a fake out. The VPVR visibly shows a decrease in volume of transactions between the two segments of local resistance and major structural resistance. This tells us that bulls will have a greater probability of reaching technical target due to the low level of resistance from the VPVR. Overall, IMO, a break from this critical level will be extremely bullish and will give us a trading opportunity. A break bearish from trend line will negate market structure and a retrace back to the .50 Fibonacci will be more probable… What are your thoughts on ETHBTC? Please leave a like and comment, And remember, “Hope is bogus emotion that only costs you money.” – Jim Cramer
Long
by AzizKhanZamani
BATBTC Bullish Divergence|Falling Wedge| EMA Cross Bullish! Hello Traders! Today’s chart update will be on BATBTC, very similar to XRP’s chart which I posted a couple days ago. BAT’s had a falling wedge breakout which is in confluence with a potential bullish divergence. It needs to break major structural resistance to confirm the daily trend change… Points to consider - Visible Bullish Divergence - Price testing major structural resistance - Macro trend change - EMA’s cross bullish - Stochastics projecting upwards - RSI respecting up trend - VPVR showing increasing volume of transactions - Volume overall increasing BAT’s chart is looking extremely bullish as its forming a well-established bullish divergence where price makes consecutive lower lows whilst the RSI makes higher lows. A very key level for BAT to break is the current resistance it’s testing; this area is very strong as it is in confluence with the 1.414 Fibonacci Extension. BAT needs to break current resistance as it will allow it to put in a new higher low, this will confirm the daily trend change which is extremely bullish! The EMA’s have already crossed bullish and is supporting price coming into resistance, this is a very strong indicator for the bulls as the EMA’s have been giving BAT major resistance way back in early May 2019. Stochastics is projecting upwards momentum; technically it can stay in this area for an extended period of time. The RSI is respecting it’s upwards trend, and mentioned earlier, it is clearly diverging from price, which further supports the bullish divergence. The VPVR is showing increasing volume of transactions after structural resistance, if price sustains above resistance despite heavy volume of transactions, then this is considered to be another extremely bullish sign. Volume itself is showing an increase after a long steady decline, this needs to sustain to confirm that the break is an actual break and not a fake out… Overall, IMO this is a very good trade setup if and when BAT breaks this current resistance and puts in a new higher low, confirming the trend change… What are your thoughts? Will BAT test upper Fibonacci Extension levels? Or will price fake out and reject from current level? Please leave a like and comment And remember, “The obvious rarely happens, the unexpected constantly occurs.” – Jesse Livermore
Long
by AzizKhanZamani
CGIX - Huge Volume Push - Momentum With BullsCancer Genetics, Inc. engages in the development, commercialization, and sale of molecular and biomarker-based tests and services. Through its Select One Clinical Trials program, the firm provides a range of clinical trial services for both oncology and non-oncology genetic testing such as bioinformatics, biomarker solutions, bio repository solutions, consulting, cytogenetic testing, nucleic acid extraction and purification, flow cytometry, Focus::NGS Panel, gene expression analyses, genotyping, and pharmacogenomics. The company was founded by Raju S. K. Chaganti on April 8, 1999 and is headquartered in Rutherford, NJ. SHORT INTEREST 1.33M 09/13/19 P/E Current -0.15 P/E Ratio (with extraordinary items) -0.31 Average Recommendation: HOLD Average Target Price: 3.00
CLong
by DEXWireNews
BTCUSD Weekly Candle Close| EMA's Crossing | Weekly Higher Low?Hello Traders! Welcome back to today’s chart update, which will be on Bitcoins weekly chart, where we have a potential indecision candle close? The weekly trend maybe putting in its local higher low however the EMA’s are showing bearish signs near the psychological $8000 level… Points to consider - Trend still bullish on weekly (Testing trend line) - Major structural support at $6000 level - Local resistance at .236 Fibonacci - Stochastics projected downwards - RSI testing support - Volume declining - EMA’s crossing Trend is still bullish on weekly until trend line is broken, price did fail to make a higher high on first attempt due to local resistance at the .236 Fibonacci level. Bitcoin needs to break this level to put in a higher high to continue this trend. However, there are a few bearish signs that need to be considered, Bitcoin is currently forming an indecision candle at a very critical point, and it is below the EMA’s and at the psychological level of $8000. Major structural support will be tested if the .618 Fibonacci level does not hold, it is probable for a bounce to come to fruition here due to its historical significance. The stochastics is projecting downwards momentum, it can stay here for an extended period of time if this bearish scenario was to play out. The RSI is testing a key support area, where a bounce will dictate a bullish scenario playing out and vice versa for the bearish scenario. Volume is well below average, this usually means that a volatile move in any direction is highly probable. The EMA’s are crossing bearish, this is a very bad sign for the bulls as the EMA’s has held BTC support throughout the whole bull market. A cross will be very bearish and will most likely push Bitcoin to lower levels… What are your thoughts on Bitcoin’s current price action? Will we break bearish or bullish from this psychological level of $8000? Please leave a like and comment And remember, “It’s OK to be wrong; it’s unforgivable to stay wrong.” -Martin Zweig
BITFINEX:BTCUSDShort
by AzizKhanZamani
BTCUSD Critical Point | 200 MA | Oversold Bounce Hello Traders! Hope you all had a great weekend, Update on BTC recent developments on the daily chart , at a very critical point, trading below the 200 Moving Average, we need it to break and stay above this level to keep a bullish bias. Points to consider, - Daily trend bearish - Price testing structural resistance - Price below key moving average - Stochastics in lower region - RSI levels oversold - .50 Fibonacci acting as resistance - .618 Fibonacci is local support - EMA’s both resistance - Volume declining after climax Bitcoin is trading at a very key region, right below the 200 moving average which is in confluence with structural resistance and the .50 Fibonacci level. The daily trend is considered to be bearish as we have not put in a higher high coming out of the bearish descending triangle . The stochastics is well below in lower regions, flattening out; we need to see it show an upper projection. This can be in confluence with the RSI , being way oversold at current time; an oversold bounce may be probable to cool off both these indicators… The Fibonacci levels are quite interesting, the .50 as mentioned before is now a key resistance level , and the 200 moving average coming over price at current given time makes this area of very strong resistance. The .618 Fibonacci level is considered as local support, price is more probable to quickly reach this region if the 200 moving average does not get broken… Volume is declining after volume climax’s, this shows that a volatile move will be at play, we could see a Bart move back and over the 200 MA and or another flush down, to local support, the .618 Fibonacci level… What are your thoughts? Will BTC break this critical resistance level or flush down to local support? IMO it’s pretty risky at current given time, we don’t have a clear direction however, few indicators are over extended, thus a oversold bounce would be more probable… Please leave a like and comment, And remember “A lot of people get so enmeshed in the markets that they lose their perspective. Working longer does not necessarily equate with working smarter. In fact, sometimes is the other way around.” – Martin Schwartz
BYBIT:BTCUSD.PLong
by AzizKhanZamani
3
XRPBTC Retraced, What Next?Hello Traders, Today’s update will be on XRPBTC from previous technical analysis, the retrace happened, what next? Points to consider - Price retraced and tested new support (R/S – flip retest) - Price respected .618 Fibonacci Level - Local resistance is .382 Fibonacci Level - EMA’s giving price resistance - RSI respecting trend line - Volume Declining - Stochastics neutral - VPVR on a steady decline in transactions - Possible consolidation before next leg up Ripple has managed to retrace back to its new support and respected the .618 Fibonacci Level before a small bull impulse move up. Small local resistance for ripple is along the .382 Fibonacci level, price is trading within a small range as of now. EMA’s are currently providing price with resistance, pushing it down towards local support. The RSI is currently respecting it’s upwards trend line; a third bounce from here will prove its significance. The stochastics are currently neutral; we don’t really have a projected direction with conviction… Volume is noticeably declining, we need to see an increase in bull volume if price where to respect support and head higher. The VPVR shows a clear decline in the level of transactions heading up, with increased bull volume, price can easily test upper levels. It is more probable for Ripple to consolidate in the orange box before making another impulse move… Furthermore, we do need to keep in MIND Bitcoins Breakout; this can negate any setups in any ALTS What are your thoughts on Ripple? Will it respect support or break through it? 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
by AzizKhanZamani
JSE:OMU Old Mutual Markdown after Redistribution After a sharp drop, Old Mutual has been undergoing redistribution. We have now seen all the Wyckoff Phases and a backup (BU) after the breakout to the trading range (TR). So base on the Wyckoff theory the markdown in Phase E is set to start. Watch for a strong downward trend. I had previously analysed this as an accumulation range (see posts below) because it looked to me that there was buying at R20. After breaking the level and now it has BU to this level again and is set to be marked down.
JSE:OMUShort
by SteynTrade