After holding the descending support that was previously resistance we see btc recovering back above the 6,500 level. The previous support line could act as resistance on top of the large amount of resistance we have seen at 7,000. BTC Breaking above these levels will invalidate the IH&S pattern. Getting rejected at this level or not maintaining enough momentum to...
As you can see last time LTC moved above the hourly 300 EMA the move started in jan 22 and lead through to jan 28. First you can see it tested it and confirmed it as resistance, then after retracing and finding support LTC rallied to the 300 EMA and broke the resistance. Shortly after, it hit the hourly 1200 EMA (Equal to the 4 hr 300 EMA) and confirmed it as...
Daily IH&S forming with a declining neckline.There was high bearish volume to form the bottom of the head which many are trying to call the bottom. In the right shoulder you can see that we are currently testing the resistance at the 50EMA which has rejected the bulls multiple time through the year. There is a small sliver of hope that the Daily MACD cross will...
After a failed rally above the resistance at 32.96 we will most likely see another test in the coming hours. Currently it looks like Stock RSI is rolling over which is a bearish indicator. So If it is rejected again, which I believe it will be then we will look for support at the 50 EMA and possibly move sideways for a few more days. Failing there will lead to a...
