We welcome you, our readers and subscribers! The market is very terrible now and does not give us the desired volatility, but everything is ahead.
Yesterday we wrote that the angle of incidence is too steep, so such trends often break, which is what we saw.
Ideally, we expect to see the flat, then price growing. The upward target is in the 6430-6470 area. It is also possible to form the right shoulder of the “Head and Shoulders” figure, which is able to send the price down, but you should look at the situation with a lot of controversial points.
There are many indicators already tell about growth, StochRSI 4H for the first time in a very long time, fell down to the oversold level and rubs near the zero level, and this is a very strong signal for long. In addition, a convergence in price and volume was found. It is not very strong, but the volume is one of the main pricing factors, so convergence is also a good buy signal. MACD has also corrected and has already gone to a return, the forces of sellers are running out.
The ratio of shorts and longs on Bitfinex is simply worth it and it is very strange. Previously, these positions were very active, but now they just stand, a major player has not yet decided on the entrance.
That's all for now. We expect testing by indicators.
Yesterday we wrote that the angle of incidence is too steep, so such trends often break, which is what we saw.
Ideally, we expect to see the flat, then price growing. The upward target is in the 6430-6470 area. It is also possible to form the right shoulder of the “Head and Shoulders” figure, which is able to send the price down, but you should look at the situation with a lot of controversial points.
There are many indicators already tell about growth, StochRSI 4H for the first time in a very long time, fell down to the oversold level and rubs near the zero level, and this is a very strong signal for long. In addition, a convergence in price and volume was found. It is not very strong, but the volume is one of the main pricing factors, so convergence is also a good buy signal. MACD has also corrected and has already gone to a return, the forces of sellers are running out.
The ratio of shorts and longs on Bitfinex is simply worth it and it is very strange. Previously, these positions were very active, but now they just stand, a major player has not yet decided on the entrance.
That's all for now. We expect testing by indicators.