As per previous update, BTC has completed the inverse head and shoulders formation and expect a rise in volume and a breakout. Lessgo.
BTC has been rejected twice at clear resistance however possible formation of inverse head and shoulders.
As per previous post BTC has clearly brroken out of the falling wedge and also the key levels of $40k and $42k levels with strong volume. Good indication of a real trend reversal.
BTC has broken the long term resistance trend line and is now trying to close above $40k over the next few hours, this will be a nice result for the bulls.
AS we previously mentioned a daily close below $40k would see dump city and we dumped to $35k and the found support on our support trend line, these are my two scenarios we had posted up a while ago and has been following well so far once it hits resistance trendline, its crunch time.
Lets be honest, the BTC chart is pretty self explanatory, bounce off previous low of $40k was low on volume, rejected by resistance levels at each call due to this, a lose below $40k spells dump city and a close above resistance trend line is super bullish.
LTC falling wedge on the daily, broke closed above then retested and bounced, perfect indication for our entry.
Yesterday I sent this out to my group indicating I expect BTC to get rejected by 200 MA, I am sharing this as I believe due to low volume it wont be able to break the 200 day MA and will be rejected again.
Morning guys 🙏🏻❤️ I am going a bit ballsy here and I am predicting this second test of the trendline and $46,400 key level will see a big bounce of support come in and see a trend reversal to the upside. Of course I may be wrong here but this is what I see happening.
On the daily is a retest of the descending channel resistance trend line, also falls on a support level, we could see some bounce here. I am not really liking a lower close than this with 5mins left on the daily close.
Another signal I am liking on the 4 hour chart is the double bottom which was confirmed by mini breakout then retest of trendline and bounce, $52,000 reject is somewhat expected being strong resistance and previous key level, may need a retest and increase in volume to break it.
BTC has been rejected at strong level of $52,000 and the stop has stopped a bit of momentum on our open alt positions. We want to see BTC hold and close 4 hour candle above $49,500 here or is likely to test $48,000 support.
Great result with the SAND trade. Hopefully anyone following liked the good result.
With NANO we identified a double bottom which we saw confirmation and entered the trade, all going well so far.
As per previous trade entry idea we have now almost completed the trade, looking at a bit of retracement with BTC movement but should hit target with no real resistance before target.
RUNE has broken out of falling wedge, before hitting horizontal resistance and now on third attempt has broken and closed above the resistance showing bullish signs of an ongoing trend reversal.
BTC is currently testing long term daily trendline resistance after finding continuous support at key support level $46,400. If can close the daily candle above will be quite bullish for me.
ZEC inverse head & shoulders confirmed on hourly and position entered. possible retest on neckline before pump.