tanreu

tanreu

Dero has made an amazing run recently and is now starting to look overbought. Starting off with the daily, we see the stochastic RSI already topped out at 100. we may linger there for awhile, but it is not sustainable. It needs to cool off and we see the MACD and RSI agreeing - both are starting to flatten out or turn down. We are also at the top of the Bollinger...

tanreu

- The Moku cloud is still conflicted between red and green, signaling market indecision. - The long wick to the top of the current brick shows that while we tried to rally above 40.5k, we couldn't hold it long enough to make a stand there. - We are still under the green cloud, which means bulls are not ready yet. - At the previous brick, we didn't manage to get...

tanreu

Looking at the 1day chart, we can see the MACD reversing nicely, though the recent red candle put a dent on the RSI just when it crossed the 50 mark. Trend remains up as it seems we have put a local bottom at 1.6856 region. There is a small problem for the bulls though as the pattern is now an ascending wedge. This more often than not breaks to the downside. A...

tanreu

There are some signs that the trend is starting to reverse. Looking at the Moku cloud, the bottom of the cloud is starting to curl up. However, the top is starting to curl down, so that balances things out a bit. On the price line itself, the red bricks are still forming downwards, meaning the trend is still clearly negative. We are also below the 10SMA ,...

tanreu

BTC is getting rejected off a historical resistance area at around 47460. Look at the wick that formed above the last Renko brick. The moku cloud is signaling indecision and the Renko bricks are snaking through the cloud again and again, which is also signaling indecision. Short term we are likely to correct though the moku cloud looks like it is on an uptrend so...

tanreu

ARRR in the ascending wedge is more likely to break to the downside. We could still get a bounce back to the top of the trendline for an extended wedge, but considering the trend is exhausted, more likely to break downwards at this time. Look to the fib levels for support going down.