VIB - slow burner, waiting for the next volume influx...
Like many coins VIB showed some bullish divergence a few days ago and had a small rally to its resistance falling trend line. Price fell back to the 78.6% fib and has found support here.
Substantial volume can be seen leading up to the 14th, however this has fallen off dramatically over the weekend - this hopefully shows limited interest in selling the price lower at this point, with buyers waiting to see further movement (rather than exchange volume manipulation!)
While the Chaikin Money Flow remains below zero, it has flattened out and shows divergence across July implying the outflow has diminished. The MFI is essentially a volume-based RSI therefore somewhat mirrors the RSI movement, the indicator posted an extended buy signal being in the oversold region for the last weeks of June, and we can now see more bullish divergence forming over the last few days.
This could be a bit of a slow burner over the next couple of weeks if volume stays low, but I'll be setting an alert for any movement. Stoch RSI and MACD aren't quite ready for a buy yet. Wait for a few more candles and watch for large green candles on the 4 hour for a good entry.
Substantial volume can be seen leading up to the 14th, however this has fallen off dramatically over the weekend - this hopefully shows limited interest in selling the price lower at this point, with buyers waiting to see further movement (rather than exchange volume manipulation!)
While the Chaikin Money Flow remains below zero, it has flattened out and shows divergence across July implying the outflow has diminished. The MFI is essentially a volume-based RSI therefore somewhat mirrors the RSI movement, the indicator posted an extended buy signal being in the oversold region for the last weeks of June, and we can now see more bullish divergence forming over the last few days.
This could be a bit of a slow burner over the next couple of weeks if volume stays low, but I'll be setting an alert for any movement. Stoch RSI and MACD aren't quite ready for a buy yet. Wait for a few more candles and watch for large green candles on the 4 hour for a good entry.
Come say hi @elisa_crypto on twitter!