Day chart showing a large amount of bullish divergence on the RSI (reflected in the CMF and MFI), however take note that the price has dipped slightly below the binance opening low now, so support has diminished at this level. The ADX is still showing a strong downtrend but has now turned over - i.e. it is weakening. The downtrend can also be seen to be tapering off by looking at the diminishing slope of the price and the movement to the upper side of the channel.
On the 4 hour, the volume and moneyflow indicators aren't yet showing the signs we'd like of an imminent break out. However other indicators make me feel this coin is worth watching or a quick scalp. The Stoch and Stoch RSI are both bottomed out and have crossed positively and the bullish divergence can also be seen on the RSI on this timeframe. The base of this now potentially falling wedge is looking strong and the recent green candles are exceeding the red in size and strength.
Additionally, and perhaps most importantly, the last 8-12 hours of BTC movement had little impact - the price had bounced down from the trend line prior, and it is one of very few green coins right now.
Timeframes below 4 hour don't tell me to buy right now - indicators are too high. But I think this is worth alerting for a possible buy at 210, first sell at the trendline, approx. 227, higher if the volume supports it. Stop losses should be tight, perhaps around 200. This is <10% trade in this climate across some time so don't expect too much!
On the 4 hour, the volume and moneyflow indicators aren't yet showing the signs we'd like of an imminent break out. However other indicators make me feel this coin is worth watching or a quick scalp. The Stoch and Stoch RSI are both bottomed out and have crossed positively and the bullish divergence can also be seen on the RSI on this timeframe. The base of this now potentially falling wedge is looking strong and the recent green candles are exceeding the red in size and strength.
Additionally, and perhaps most importantly, the last 8-12 hours of BTC movement had little impact - the price had bounced down from the trend line prior, and it is one of very few green coins right now.
Timeframes below 4 hour don't tell me to buy right now - indicators are too high. But I think this is worth alerting for a possible buy at 210, first sell at the trendline, approx. 227, higher if the volume supports it. Stop losses should be tight, perhaps around 200. This is <10% trade in this climate across some time so don't expect too much!
Comment:
Well BTC killed that idea! No trade right now.
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