After having broken out a falling wedge with some substantial volume, VET seems to be printing out an ascending triangle on the daily/hourly charts.
I often see too many traders focusing on fancy complicated indicators, highly theoretical charting patterns and methods that are just in the air for interpretation... Keep it simple guys, trends, supports and resistances. Price action is the core of what we really need, made a buy of INJ at 100k sats because it was trending up, and fell on support. Thats it!
Came down back to support after a bullish impulse with rising volume. good scalp potential to its local highs alone
XRP has printed out the exact same fractal it prints before rallying for the 4th time now, I'm not saying that were getting close to the ATH or passing them by any means. But to ignore such a methodic move that we've seen time and time again with the same outcome, a pump, would be irresponsible
Extend the 20 W MA, an the fractal from earlier this year that is playing out and it looks like the 20k break for BTC could come as early as February.
After a firm rejection at 630 which was a previous resistance, a breakdown was expected and it looks like the 20W MA is lining up perfectly with the price action support. To anyone looking to get into ETH, pay attention to this zone!
BTC has closed a daily candle below the short term 20 day MA, this suggests that in the short term bulls are taking a step back... If we use a Fibonacci retracement from the lows of 2020 we see that they match up perfectly with the 20 Week MA (Bull market support) and the local lows (16.3k). These are my next targets if we do not see a rapid bullish buy up above...
How does it work? This indicator takes amount of BTC (or given asset) traded at a certain price level. Which is then represented by the bars on the left side of the chart in a vertical form. How can we use it? On any given timeframe you can analyze and spot at which exact price levels the asset has done the most historical trading and infer that this heavy...
Bollinger Bands are a highly popular technique. Many traders believe the closer the prices move to the upper band, the more overbought the market, and the closer the prices move to the lower band, the more oversold the market.
20W MA is propably the strongest support BTC has during bullruns and every correction BTC has had during these massive rallies, fall right onto the 20W MA like clockwork.
Bitcoin has printed out a double bottom exactly on support and has moved higher. This is bullish for the short term and suggests the correction is over and there will not be any lower lows in the short term. This also suggests that altcoins, as we've seen today, will move higher because when bitcoin moves sideways or slowly up, alt coins outperform bitcoin
ETH is back in the buyzone with previous resistance and the .618 fib level acting as support, if you were waiting to buy the dip, this is it.
If we take a step back from the short term charts which have many up in arms and panicking, we see that historically, the price has dropped when nearing new all time highs. This time is no different. Although we have not dropped as far, even if we do, things look amazing. 2021 will be a great year for bitcoin
After a parabolic move up, it was time eth chilled out... Here we have the .618 fib level, 21 daily moving average AND previous resistance acting as support. Looking like an optimal zone to re enter eth!
BTC has FINALLY corrected and touched the 20 day MA. We have also finally came back into non-overbought territory on the RSI. Pointed this out in previous charts, follow for more.
Double top spotted on the 4h chart on Bitcoin. A bearish RSI divergence is continuing to play out. If we look at history we know the 20 day MA is the SHORT TERM bull market support line, while the 20 week MA is the final line of support. Set yourselves up accordingly for a possible dip!
XRP/BTC is coiling up in a bullish flag on the 30m, If any of you are interested in a short term trade, here it is. Trends are your friends!
The recent bear market annihilated the vast majority of alt coins, one of the few resilient coins was LINK. It has just came back down into its accumulation zone, and is a great buy at these levels for a swing trade (midterm 3-6 months). Specifically compared to BTC. LINK has one of the most predictable swing trading channels and we should take advantage of this.