Just an idea. If we see a retracement down the neckline (dotted line) around $11.80 then we could be in for a nice bullish inverse H&S setup.
Most likely see a breakout to the uptrending S/R level at $15 before correcting (see blue line).
Looks like ALGO could bounce here. Currently fighting to retake the 50EMA on the 4-Hour chart.
Strong resistance area overhead (green shaded zone). If bulls can break this then the 0.382 fib level and upper channel resistance will be key areas to watch.
Expecting a retracement to the 0.236 fibonacci level if the breakout is successful, before a correction.
Classical pennant setup on the 4H BAND/BTC chart.
Will wait for close above sloping resistance before piling in. I'd be VERY surprised if this broke bearish, considering all the hype there is around oracle coins right now.
Now that Link is testing $20, bulls will be looking to get into BAND as the cheaper alternative. I think big buyers are waiting for a clear...
Possible bearish double top if up-trending support is broken.
Green marked area around $11,000 should provide some support. If that fails, the 0.5 fibonacci level at $10,566 could create some friction in the downtrend.
I recently saw a twitter post by NSquaredCrypto that showed how buying ETH in May and selling in December was a better long-term strategy than HODLing.
It really peaked my interest so I thought I'd have a look at BTC/USD and see if I could find a similar sort of strategy. (Worth saying at this stage that I am by no means a data scientist, just a...
MATIC/BTC has broken out of a bullish pennant on the daily - albeit with not a great deal of momentum. Also appears to have uncoupled somewhat from the bearish BTC market.
At the moment, it looks like its struggling against the 0.786 Fib res around the psychological 160 Sats level.
Volume has been rising over the past 18 days despite the widespread bear market,...
ONE/BTC consolidating inside a nice pennant. Volume looking pretty good right now, but unsure how it'll sustain given the falling BTC market right now.
If it breaks bullish above the resistance I'll wait to see how the 4-hourly close and volume looks before entering.
Be interesting to see if this second channel plays out as cleanly as the first.
Upper resistance looks well-established but lower support could do with another retest to confirm the pattern.
$9,800 support could prop up price action temporarily but MACD, RSI and moving averages all currently favour a bearish continuation.
Assuming the channel plays out all...