Structure/Trend: The beginning of September saw price test Resistance level 3 times at 0.00001603, the price later broke the Resistance leading to a Bullish Flag Pattern intraday 4th September, the price went for a swift drop during the 5th, and retseted the initial Resistance 3 times again until the 8th. From there on there was a constant drop in price that saw the price bars break the Support line, the price quickly went up again and moved in a range between 0.00001436 and Support (0.0001343).
Hypothesis: Reading the BB, the price bars are very close to the upper band which means price should drop anytime soon, the RSI also shows that the price line is currently on a downward movement, I predict this to happen till at least the end of today i.e. the 21st. The EMAs show the price currently recovering from the price drop that took place between the 19th and 20th of September, the EMA (50) and (200) look more positive.
Confirmation/Tell: For the Hypothesis to work, both the RSI and BB have to work together, the EMAs are currently under the price bars which constrasts the Hypothesis that price should drop soon.
Targets: The Stop Loss is placed just below the Support at 0.00001342, the Target Price is placed just below the Resistance at 0.00001580. The R/R ratio is fixed at 3.44:1
Hypothesis: Reading the BB, the price bars are very close to the upper band which means price should drop anytime soon, the RSI also shows that the price line is currently on a downward movement, I predict this to happen till at least the end of today i.e. the 21st. The EMAs show the price currently recovering from the price drop that took place between the 19th and 20th of September, the EMA (50) and (200) look more positive.
Confirmation/Tell: For the Hypothesis to work, both the RSI and BB have to work together, the EMAs are currently under the price bars which constrasts the Hypothesis that price should drop soon.
Targets: The Stop Loss is placed just below the Support at 0.00001342, the Target Price is placed just below the Resistance at 0.00001580. The R/R ratio is fixed at 3.44:1