oe123

oe123

For the buy and hold strategy, you could buy coin on the way down. If you are holding for a few years, this area was a first good buy-in and there will be other drops to take advantage of.

oe123

At present divergence between price and indicator playing out. Price dropping. Look for further downside.

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Pattern wise we have 2 triangles where price has broken out and down. We have a rising wedge of activity. Rising wedges denote bearish sentiment. Although prices did not remain long in wedge. We are not far from 11866. Also remember to look at the "levels to be aware of" on the chart. At some point we hit those prices again.

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Rising wedge formation is bearish. Watch and stay on the sidelines until you see price break.

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Watch the chart. Prices may be headed lower according to the pattern and the rsi indicator at bottom is headed lower. Enter positions accordingly and choose an opportunity when prices dip. Price is very near the apex of the triangle so this current break to the down could be weak. You just have to stay on the sidelines and watch and see before entering.

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Look for prices to move lower. For the long term investor, this will be excellent for you and for the trader, adjust your strategy as you see fit and take advantage of the temporary dips and opportunity to add to your positions.

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This is not written in stone yet. But when prices reach these levels these levels will be good buy-in areas to consider.

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RSI dipping downward from overbought readings. Sellers were in control today as price falls to close at .71455. Sellers were taking positions in supply zone (black lined banded area) potentially selling short for first and second profit target areas. Supply zone and indicator suggest selling short.

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RSI is overbought and beginning to tip. You have sellers into supply (black lined banded area) where they would be to take shorting positions. I have marked profit target areas.

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Currently in a symmetrical triangle pattern where price will either break to up or break to the down. Also be aware of future price levels indicated by the gold lines where price will return at some point in the future. I have indicated two shown here but there are price levels below this as well. For the buy and hold especially, or whatever your trading plan is,...

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Keep an eye out on price as the crypto continues to be overbought and you still have price diverging from the indicator meaning that at this time price continues to weaken against the indicator. Watch for an opportunity for prices to fall based on these two dynamics.

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On the chart price is clearly in the supply zone suggesting sellers may have the opportunity to go short . The theory is that in this set up, supply zones represent shorting opportunities. This has to do with the unfilled orders by big money being revisited. This set up is easily spotted on charts when you know how to identify them. Big money is represented by...

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Keep an eye out. There is divergence of the indicator and price. Price may fall, price may not. Continue to watch the chart and if price falls that may be a chance for you to add to your position. The positive on this is that it costs you nothing to watch and then and only then will you take a position when the price has fallen a bit and is in your favor. Good luck.

oe123 Updated 

The RSI may be foretelling a drop in price presenting a buying opportunity at lower prices. See chart for details.

oe123 Updated 

Price may be weakening against the rsi indicator where you currently have divergence between price and indicator. If you are not familiar with what divergence is then notice the dark yellow line above price and the same line placed below on the top portion of the rsi indicator. Notice how the two diverge from one another. Since the indicator is diverging downward,...

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On the chart you have clear divergence between price and the rsi indicator. A weakening of price momentum is measured by the indicator. Indicator has diverged away from price telling you that price was weakening. Therefor prices fell the last two trading sessions providing a buy in at lower levels. A nice example of divergence played out between price and...

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Price is beginning to weaken where you have a clear divergence of price and indicator. Follow the indicator. Pull back will be an opportunity to go long.

oe123 Updated 

We now have price in the supply zone. This presents potential shorting positions. Current price will often return the same way it left as it did on Oct. 19/17.On that day notice how the longer green price bar for today resembles the red price bar in length on Oct.19/17. That's a prime example of price returning the way it left. This dynamic will at times presents...