This 3-day chart is providing some clarity on what could happen next for this coin. 0.0143 has been holding like a champ as support but price has been trapped within this level and resistance 0.0174 which is the highest monthly close since the low of 2020. I have been harping about these levels and heralding breakouts that have not happened but I am sticking to...
A break above 137 opens up a likely run for the previous ATH. One of the higher probability trades out there. :)
Looks like 0.0143 is holding so far. If it holds on a daily and weekly basis, we could see the market ranging between 0.014 and 0.017 for a bit before deciding on a direction.
Looks like we are going to see BTC above this descending broadening wedge. However, I do still see a potential bearish scenario that should delight the altcoin community. :) This is purely conjecture though based on a wave analysis I like to use as a guide. Resistance levels below 70 could turn the market back for a bear leg targeting that 51-52 levels. That is...
Market is reacting to resistance trend line drawn from the FEB-2020 HIGH. Looks like a rising wedge that could facilitate a bear leg to re-test previous lows. I have my doubts we will see a big pullback mainly because of the strength of the preceding trend but don't take my word for it. A target for such a pullback would be that 480 level (good buy level for me)....
I am currently on the naysayers camp but that may change soon. BTC looking really strong here and might make an attempt to breakout out of this descending broadening wedge. Watch out watch out!
Lotsa pent up energy here... Press send already... :)
Still in consolidation but currently staying above 1,860 which is a (bullish hint) signal level for me. Let's see how it handles the resistance trend line of this descending channel (bull flag?) if and when it gets there.
Bulls still feeling that pesky level but it's just a matter of time as long as the preceding higher lows hold.
Currently trying to break 84.5 key level. Looking for a weekly close here.
Previously mentioned the 1.91 level as a breakout confirmation level (weekly closing basis) and seems to be holding so far despite repeated bullish reversal attempts. This pair is a thick market (i.e. lotsa overlaps between candles/bars) and anyone trading this needs to be (mentally) prepared for it. That said, we will not want to see that 1.91 level tested again...
Said level is a the highest monthly close since the low this year and should be a key level for both bulls and bears. We should see some bullish follow through after a weekly close above that price. Else, market could get into a trading range between 0.0143 and 0.0174 before making a decision to go higher or lower. I still think the bulls still have the edge here...
Just needs a monthly close above that trend line to confirm the breakout but will let the chart speak for itself...
Now up 27% since my post about it.
Double bottoms with wedge breakouts are always potent patterns to trade IMHO. This one looks really good. One can wait for another leg down before looking for a buy signal but today's candle looks like it will be a nice bullish candle which can be a buy signal too (better to wait for the day's close). First target if price rallies from here is the wedge high or...
Here's another AUD pair showing short-term weakness.
Currently still testing resistance at 0.7385. Pair may be looking at 0.7223 as a possible price magnet so watching out for a break lower (0.7325) as I indicated in a related post (see link below). This is a short-term setup as I am still bullish overall, especially if market breaks 0.7385-0.7400 on a daily closing level. Alternatively, waiting for a buy setup at...
Last time the market had a WEEKLY CLOSE below 1.2970 level was in 2018 so I think a weekly close below this level would be significant.