In this setup we see Nexo hitting its C&H neckline. Volume decreasing since the middle of the cup and exponentially decreasing when in the handle. Just like we like to see it. Target is bottom of the cup towards the neckline. We can see 2 necklines. However, I prefer the conventional one since its target wil allign with Nexos big resistance. For now, we would like...
First things first, nothing is perfect. Expecially in crypto.
However, the analysis I provide you seems pretty close ;). Besides, what harm does a little clickbait do.
What do we see on the chart:
Haikin-Ashi candles: Heikin Ashi reduces graph noise, making it easier to spot trends.
Indicators:
RSI Index (14):
- Parallel channel within the RSI Index:...
Nexo/btc finds itself in a downtrend channel for about 3.5 months.
With Nexo/usdt breaking out (check previous analysis), it's likely that Nexo/btc will rise above the gold yellow downtrend line. When this happens, we would like to see that the grind continues up until it rises above the parallel channel. until then, Nexo is just boring.
With Bitcoin recovering, Nexo wants to escape the parallel channel.
See the chart for the trade idea and the horizontal lines as resistance levels.
Keep risk managament in mind.
Bullish divergence on the JASMY/BTC pair.
If BTC doesn't wet the bed, Jasmy could head to 00000178 and afterwards 00000252 which aligns perfectly with feb retracement.
We are at the bottom of the range in which we're in for about a year now. Let's see if we can bounce back up.
MacD seems to be slowly curling up (see histogram). This was also the case in begin June 2021.
However, if we break the bottom of the range, we see support at the demand zone ( 29k -31.5k purple).
If we're going down even further, we see the huge blue...
- LINKBTC just bounced off the bottom part of the parallel channel
- LINKBTC just broke the local downtrend with volume which gives us a first target of the equilibrium of the parallel channel. Afterwards we target the beginning of the downtrend (0006804). Lastly, we are looking for the upper side of the parallel channel.
- MacD just crossed over and RSI has...
As you can see, we have a huge ascending triangle formed on the BORA/BTC pair.
However, we have some bearish divergence. We need to hold the gold line in order to get above the purple supply zone.
Breaking the purple supply zone would give us a new ATH for this pair.
Name a better looking chart than this one.
Litecoin is squeezed between its bottom (.002875) and the 4 years downtrend.
Breaking this downtrend would likely mean visiting the Fibonacci levels which perfectly match r/s lines.
Oh, and theres a bullish divergence of 20 months in play.
Everyone is panicking. However, bitcoin still plays its range and is forming bullish divergence.
let's just wait before making any decisions regarding bull or bear market.
Almost same setup as my previous post AVAX/BTC.
Price action is between the yellow horizontal line and ath grey horizontal line.
Breaking the grey horizontal line would mean a new ath for LUNA/BTC.
Place your stop loss below the yellow trend line and match it with a take profit using fibonacci retracement.
have fun trading
- Ens broke out the double bottom pattern following the bitcoin move.
- Volume looks good making the move
- MacD just crossed at the 1D and has still a lot to go on the 4H
- The technical target of the outbreak of this pattern would be 57
- HOWEVER : the next resistance rests on 54.5 laying up exactly at the 0.382 fib. level.
Price action is between the yellow horizontal line and grey trend line.
breaking the yellow horizontal line would mean a new ath for avax/btc.
place your stop loss below the grey trend line and match it with a take profit using fibonacci retracement.
have fun trading
Bitcoin to hold the level above the 2 downtrends and we will likely see a move towards the next resistance.
bitcoin recently moved towards both downtrends but just made a move above the macro downtrend.
first downtrend ( 7 dec - now)
second (macro-)downtrend ( 10th nov - now)
resistance = +- 51938 (beginning of recent downtrend)
next resistance = +- 52925...
