There are signs of a short-term turn around to an uptrend (shown circled in green).
However, long-term trends in On Balance Volume and RSI indicate we’re heading towards a major pressure point leading into a big move. Which way will that move go?
The SuperGuppy (two groupings of short- and long-term EMAs) shows a slight probability in favor a large downtrend...
Happy Saturday my crypto peoples!
BINANCE:LTCBTC seems primed to make a big move. After breaking below early support (previously early Feb's resistance), we're now headed down to test early Feb's support.
I'm setting an alert around 1'803'800 sats, where I'll start looking more closely for reversal signs and my re-entry.
This is a journal of my own personal...
COINBASE:BTCUSD is moving towards a test of two levels:
A valid fractal formed the evening of Feb 27 around $11k.
The alligator's starting to eat; the awesome oscillator shows positive, accelerating momentum; two squat bars have broken to the upside with positive acceleration and momentum; volume is increasing.
If the fractal is broken, watch carefully...
BTC bouncing off .382 fib
Since Tuesday's drop, BTC seems to be coming up from a second bounce off the .382 resistance at ~$12,000. Downward wedge gives me the feeling it's going to rise a few days to the .5 resistance at $13,000. If it breaks out from there, I'll feel more confident that the recovery from this drop will finally bounce us into a bull market....
If XLM bounces off 5048 support and rises convincingly, we look to have an uptrend on our hands. I plan to take some profits a bit below 7303 (+39% from 5250 entry) and, if the trend continues, again at 8924 (+60% from 5250 entry).
XLM might not return the short term 100+x's that are possible with a lucky and well-executed small cap altcoin move, but I think it...
