When the warriors fall we will see the results of the war!
Hi, my fellow crypto friends! Here I am again bringing the power of Technical Analysis to the crypto community and like everyone, waiting for better times to make a profit.
So without further ado, let's talk about what matters.
As you all can see we are passing for very hard times in the crypto space, must part of it is FUD and reflex of the regulation wave battle the crypto community is facing. But we can expect better times when it's all over since lots of money probably will come from the hedge funds and big investors.
With that in mind, we can take the charts in perspective now:
If we take a look in the 1D chart it's easy to see that we still inside of a huge downtrend channel which has been dragging the price down since May 10 until now, but the volume did not suffer as much, keeping the average balance.
In the 4H chart, the 20 EMA( in BLUE) continuous below the 50 EMA ( in RED) which is leading the run. We have to wait now, maybe the market will test the supports in $0.11 and if it succeeds we could expect a retest close to $0.13.
My guesses and suggestions: The ideal would be to wait for prices to return to the high channel breaking the 50 EMA(in RED), that way with a consolidation we can think in shorts.
For DayTraders who like to play in the hard mode, we can see in the 1 Minute chart a slow volume of transactions but all the altcoin market still slow nowadays which does not mean you can't make some profit. The chart shows little ups and downs of 3% on average.
In all these circumstances, you should always be nimble to not lose the point.
Always remember my fellow friends, I'm like everyone here who is trying to improve my views on charts and patterns, never take this as a financial advisor because you are on your own.
If you liked or with you have an opinion about, I'll be happy to read it.
So without further ado, let's talk about what matters.
As you all can see we are passing for very hard times in the crypto space, must part of it is FUD and reflex of the regulation wave battle the crypto community is facing. But we can expect better times when it's all over since lots of money probably will come from the hedge funds and big investors.
With that in mind, we can take the charts in perspective now:
If we take a look in the 1D chart it's easy to see that we still inside of a huge downtrend channel which has been dragging the price down since May 10 until now, but the volume did not suffer as much, keeping the average balance.
In the 4H chart, the 20 EMA( in BLUE) continuous below the 50 EMA ( in RED) which is leading the run. We have to wait now, maybe the market will test the supports in $0.11 and if it succeeds we could expect a retest close to $0.13.
My guesses and suggestions: The ideal would be to wait for prices to return to the high channel breaking the 50 EMA(in RED), that way with a consolidation we can think in shorts.
For DayTraders who like to play in the hard mode, we can see in the 1 Minute chart a slow volume of transactions but all the altcoin market still slow nowadays which does not mean you can't make some profit. The chart shows little ups and downs of 3% on average.
In all these circumstances, you should always be nimble to not lose the point.
Always remember my fellow friends, I'm like everyone here who is trying to improve my views on charts and patterns, never take this as a financial advisor because you are on your own.
If you liked or with you have an opinion about, I'll be happy to read it.