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Theta Is About to Break the Downtrend! Here's the New Target
Theta (THETA) is showing signs of breaking its downtrend according to the latest technical analysis. The chart highlights key support and resistance levels along with potential price targets.
Support Levels: The current support level for Theta is around 1.400. This level serves as a crucial point where buyers step in, preventing further price declines.Resistance Level: The primary resistance level is set at 2.5323. Reaching this level means Theta may face significant selling pressure once again.Price Target: The target price for Theta is 2.5323. This target is based on the assumption that the price will continue its upward movement after breaking the downtrend line.Trend Line: The yellow downtrend line on the chart indicates Theta's prolonged downward movement. Breaking this trend line could signal the beginning of a new upward trend.
The technical outlook for Theta is promising, as it appears ready to capitalize on the support levels and push towards the resistance level. This movement could indicate a strong upward momentum.
#theta #thetacoin #thetanetwork #ai #technicalanalysis $THETA
Support Levels: The current support level for Theta is around 1.400. This level serves as a crucial point where buyers step in, preventing further price declines.Resistance Level: The primary resistance level is set at 2.5323. Reaching this level means Theta may face significant selling pressure once again.Price Target: The target price for Theta is 2.5323. This target is based on the assumption that the price will continue its upward movement after breaking the downtrend line.Trend Line: The yellow downtrend line on the chart indicates Theta's prolonged downward movement. Breaking this trend line could signal the beginning of a new upward trend.
The technical outlook for Theta is promising, as it appears ready to capitalize on the support levels and push towards the resistance level. This movement could indicate a strong upward momentum.
#theta #thetacoin #thetanetwork #ai #technicalanalysis $THETA
💪 Looking at the 1-day candle closure, Ethereum's found solid support at $1.8K. We could be about to see a breakout either way, depends if the bears or bulls dominate as we enter June. And with Bitcoin's dominance decreasing, Ethereum will continue to do its own thing more and more 📊
#Ethereum #ETH #technicalanalysis #cryptotrading #trading
#Ethereum #ETH #technicalanalysis #cryptotrading #trading
CANDLE STICK PATTERNS
#BinanceTournament #feedfeverchallenge #BTC #trading #technicalanalysis
CHECKMATE
Checkmates occur when price becomes locked in a narrow trading range before a reversal in direction/trend. Therefore, we have the BEARISH CHECKMATE & the BULLISH CHECKMATE.
1. BEARISH CHECKMATE: This is when a bullish trend meet a deadlock (resistance) that is tested & rejected due to the bulls not being able to hold the pressure at this level. This is indicated by a long wick showing the point where the bulls cannot push the price beyond. The price would continue to trade within this range, until a long bearish candle breaks out indicating a bearish reversal. As an entry signal this pattern requires one or two strong bearish bars.
2. BULLISH CHECKMATE: This is a direct opposite of a bearish checkmate. Here a downward trends meets a support rather than a resistance. The long wick indicating where the Bears cannot push the price beyond. The price would trade within the range until a bullish candle breaks out indicating a bullish reversal. As an entry signal this pattern requires one or two strong bullish bars.
BULLISH REVERSAL PATTERN
BEARISH REVERSAL PATTERN
CHECKMATE
Checkmates occur when price becomes locked in a narrow trading range before a reversal in direction/trend. Therefore, we have the BEARISH CHECKMATE & the BULLISH CHECKMATE.
1. BEARISH CHECKMATE: This is when a bullish trend meet a deadlock (resistance) that is tested & rejected due to the bulls not being able to hold the pressure at this level. This is indicated by a long wick showing the point where the bulls cannot push the price beyond. The price would continue to trade within this range, until a long bearish candle breaks out indicating a bearish reversal. As an entry signal this pattern requires one or two strong bearish bars.
2. BULLISH CHECKMATE: This is a direct opposite of a bearish checkmate. Here a downward trends meets a support rather than a resistance. The long wick indicating where the Bears cannot push the price beyond. The price would trade within the range until a bullish candle breaks out indicating a bullish reversal. As an entry signal this pattern requires one or two strong bullish bars.
BULLISH REVERSAL PATTERN
BEARISH REVERSAL PATTERN
Data Suggests Small Holders Will Drive Next Cardano (ADA) Rally
Over the course of 2023, the movement of Cardano (ADA) has been more on the bullish side. Despite the reversal over the last few weeks, the #Bullish momentum has not completely died out. However, what is most interesting about this trend is the fact that the smaller investors seem to be the major driver behind it, not the large whales.
Cardano Small Investors Continue To Accumulate
Through the course of 2023, the smaller #Cardano investors have been at the forefront of the ADA accumulation. This is seen from January through to May where their collective holdings have continued to rise. These investors holding between 1,000-10,000 coins and 10,000-100,000 coins have steadily grown their holdings over the last six months.
Where the whales were skewed toward selling than buying, these retail investors were heavily on the buy side. As a result, their collective holdings have grown from around 17% of the total supply to over 18.1%. As a result, these smaller wallets holding between 1,000-100,000 coins now account for 6.29 billion out of the 34.79 billion total supply.
Their accumulation trend also coincides with the rise in the price of #ADA over this time which is illustrated in the chart below. There were dips in their holdings where there was presumably some profit-taking. However, the general trend continued toward the upside, bringing their holdings to new highs.
Small ADA holders increase holdings in six months | Source: Santiment
During this time, the holdings of larger investors holding between 10,000,000-100,000,000 coins dropped drastically. This suggests that while the smaller holders were responsible for the price increase, larger holders were the culprits behind the price crash as their total holdings went from 12.1% of the total supply to 11.11% in April.
What Will Trigger The Next ADA Rally?
Currently, the price of ADA is still down, suggesting that investors are very wary about buying the token. However, if the accumulation trend among smaller wallets continues, there could be more upside to come. An added advantage of small wallets leading the accumulation trend is that it enables a broader distribution of the token, which helps to sustain bull rallies.
ADA is still seeing significant resistance at the $0.38 level, but given that bears are still weak at this point, its inability to beat this resistance can be explained by the general low momentum in the market. When the price of Bitcoin picks up once more, $0.38 will be quickly surpassed with the next important level sitting at $0.4.
At the time of writing, ADA is changing hands at a price of $0.37. It’s down 0.21% on the 24-hour chart but seeing gains of 1.73% on the weekly chart.
ADA price trending at $0.37 | Source: ADAUSD on TradingView.com
source: newsbtc
image source: ai
#CryptoDailyDigest #technicalanalysis
Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Cardano Small Investors Continue To Accumulate
Through the course of 2023, the smaller #Cardano investors have been at the forefront of the ADA accumulation. This is seen from January through to May where their collective holdings have continued to rise. These investors holding between 1,000-10,000 coins and 10,000-100,000 coins have steadily grown their holdings over the last six months.
Where the whales were skewed toward selling than buying, these retail investors were heavily on the buy side. As a result, their collective holdings have grown from around 17% of the total supply to over 18.1%. As a result, these smaller wallets holding between 1,000-100,000 coins now account for 6.29 billion out of the 34.79 billion total supply.
Their accumulation trend also coincides with the rise in the price of #ADA over this time which is illustrated in the chart below. There were dips in their holdings where there was presumably some profit-taking. However, the general trend continued toward the upside, bringing their holdings to new highs.
Small ADA holders increase holdings in six months | Source: Santiment
During this time, the holdings of larger investors holding between 10,000,000-100,000,000 coins dropped drastically. This suggests that while the smaller holders were responsible for the price increase, larger holders were the culprits behind the price crash as their total holdings went from 12.1% of the total supply to 11.11% in April.
What Will Trigger The Next ADA Rally?
Currently, the price of ADA is still down, suggesting that investors are very wary about buying the token. However, if the accumulation trend among smaller wallets continues, there could be more upside to come. An added advantage of small wallets leading the accumulation trend is that it enables a broader distribution of the token, which helps to sustain bull rallies.
ADA is still seeing significant resistance at the $0.38 level, but given that bears are still weak at this point, its inability to beat this resistance can be explained by the general low momentum in the market. When the price of Bitcoin picks up once more, $0.38 will be quickly surpassed with the next important level sitting at $0.4.
At the time of writing, ADA is changing hands at a price of $0.37. It’s down 0.21% on the 24-hour chart but seeing gains of 1.73% on the weekly chart.
ADA price trending at $0.37 | Source: ADAUSD on TradingView.com
source: newsbtc
image source: ai
#CryptoDailyDigest #technicalanalysis
Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Everything You Need to Know about the Cup and Handle Chart Pattern – Important Guide
The Cup and Handle pattern was first introduced by William O’Neil in his book “How to Make Money in Stocks”. Since then, this pattern has gained widespread recognition among traders and investors alike.
The purpose of this article is to offer insights into the following topics:
Fundamentals and identification of the Cup and Handle pattern
Key components
Essential aspects
Table of Contents
What is a Cup and Handle pattern?
Key Components of a Cup and Handle Pattern:
Important aspects:
1. Prior Trend
2. Cup length
3. Cup depth
4. Handle
5. Breakout
6. Volume
7. Target
8. Stop-loss
Exhibits
A Cup and Handle pattern with a shallow handle in the shape of a parallel channel
A Successful Cup and Handle pattern with a V-shaped cup and a shallow handle
What is a Cup and Handle pattern?
The Cup and Handle pattern is a widely recognized bullish continuation pattern. This pattern is formed when the price of an asset experiences a period of consolidation, followed by a slight dip in price (the handle), before resuming its upward trend.
While the Cup and Handle pattern is often seen in uptrending assets, it can also occur in assets that are in a downtrend or have been trading sideways. In these cases, the pattern can signal a potential trend reversal or the beginning of a new uptrend.
The cup portion of the pattern is typically visualized as a “u” shape, resembling a rounding bottom pattern. This phase represents a consolidation period where the price of the asset moves sideways, forming a base of support.
The handle is formed when the price of the asset pulls back slightly, creating a smaller “u” shape. This phase represents a retest of the support level established during the cup formation.
The handle is a critical component of the pattern, as it is often seen as a buying opportunity for traders. If the handle forms correctly, it can signal that the consolidation period is coming to an end and that the price is likely to continue its upward trend.
Once the handle formation is complete, the stock may reverse course and resume its prior uptrend. Traders can use this pattern as a signal to enter a long position in the asset, with a stop-loss order placed just below the support level established during the cup formation.
Key Components of a Cup and Handle Pattern:
The pattern consists of three key components:
Cup
Handle
Neckline/Resistance
Key Components of a Cup and Handle Pattern:
Important aspects:
1. Prior Trend
In general, the Cup and Handle pattern is a bullish continuation pattern and occurs in up-trending stocks. However, some traders also use it as a reversal pattern in a downtrend or sideways trend.
2. Cup length
When analyzing the Cup and Handle pattern, it is important to pay attention to the shape and characteristics of the cup formation. Typically, cups with longer and more “U” shaped bottoms provide a stronger signal, indicating a more prolonged period of consolidation and a stronger base of support.
Ideally, the perfect Cup and Handle pattern would have equal highs on both sides of the cup, indicating a symmetrical and stable consolidation phase. However, this is not always the case, and traders should be cautious when analyzing asymmetrical cups. While an asymmetrical cup can still be a valid pattern, it may indicate a less stable consolidation phase and a weaker support base.
On the other hand, cups with sharp “V” shaped bottoms should generally be avoided, as they indicate a lack of consolidation and weak support levels. These types of cups are less likely to provide a valid base for the subsequent handle formation and can lead to false signals.
3. Cup depth
While the ideal depth of the cup formation can vary widely depending on the asset being analyzed, a depth of up to 60-70% of the previous uptrend may still be considered valid. However, in general, it is best to look for cup formations with a depth of around 50% of the previous uptrend.
4. Handle
The handle can occur in several forms, including a flag, pennant, or rectangular consolidation, and typically retraces anywhere between 40-60% of the depth of the cup.
However, it is important to avoid handles that are overly deep, as they may weaken the bullish signal and decrease the likelihood of a continuation of the uptrend. Generally, the best Cup and Handle patterns have a shallow retracement on the handle, with a depth not exceeding 50% of the cup. In some cases, the price may also retrace up to the 0.618 Fibonacci level.
5. Breakout
A breakout above the reaction highs and neckline serves as a bullish confirmation of the Cup and Handle pattern. When the price breaks above the neckline or the resistance level, accompanied by a surge in trading volume, the pattern is considered complete, and a bullish trend is expected to follow. It’s important to note that after the breakout, the price may test the demand by returning to the neckline before moving higher.
6. Volume
Ideally, the trading volume should decrease during the formation of the base of the cup as well as during the formation of the handle. Conversely, the volume spike when the price breaks above the neckline level, confirming the breakout. However, it’s essential to note that these are only guidelines and the actual volumes may vary in practice.
7. Target
Using the measurement objective technique, we can easily determine the target of the Cup and Handle pattern, which is equal to the depth of the cup. To calculate this, measure the vertical distance between the lowest point of the cup’s base and the neckline. By adding this distance to the breakout point, we can estimate the price target for the up move.
The target comes out to be equal to the depth of the cup. (Chart courtesy: TradngView)
8. Stop-loss
One common approach is to place the stop-loss at the lowest point of the handle. This level is often seen as a critical support level, and a break below it can indicate that the pattern has failed and that the asset is likely to continue its downward trend.
However, in situations where the price oscillates up and down several times within the handle, placing the stop-loss at the lowest point may not be the most effective approach. In these cases, then the stop-loss order can also be placed below the most recent swing low.
Stop loss placed under the low of the handle.
Exhibits
A Cup and Handle pattern with a shallow handle in the shape of a parallel channel
The handle can occur in several forms, including a flag, pennant, or rectangular consolidation.
A Successful Cup and Handle pattern with a V-shaped cup and a shallow handle
Sometimes the V-shaped cup and handles also play out successfully.
Cup and Handle pattern with a failed breakout
Like this article? Don’t forget to share it with your friends! Follow me for more educational content.
#feedfeverchallenge #technicalanalysis #chartpatterns #cryptotrading #cupandhandle
The Cup and Handle pattern was first introduced by William O’Neil in his book “How to Make Money in Stocks”. Since then, this pattern has gained widespread recognition among traders and investors alike.
The purpose of this article is to offer insights into the following topics:
Fundamentals and identification of the Cup and Handle pattern
Key components
Essential aspects
Table of Contents
What is a Cup and Handle pattern?
Key Components of a Cup and Handle Pattern:
Important aspects:
1. Prior Trend
2. Cup length
3. Cup depth
4. Handle
5. Breakout
6. Volume
7. Target
8. Stop-loss
Exhibits
A Cup and Handle pattern with a shallow handle in the shape of a parallel channel
A Successful Cup and Handle pattern with a V-shaped cup and a shallow handle
What is a Cup and Handle pattern?
The Cup and Handle pattern is a widely recognized bullish continuation pattern. This pattern is formed when the price of an asset experiences a period of consolidation, followed by a slight dip in price (the handle), before resuming its upward trend.
While the Cup and Handle pattern is often seen in uptrending assets, it can also occur in assets that are in a downtrend or have been trading sideways. In these cases, the pattern can signal a potential trend reversal or the beginning of a new uptrend.
The cup portion of the pattern is typically visualized as a “u” shape, resembling a rounding bottom pattern. This phase represents a consolidation period where the price of the asset moves sideways, forming a base of support.
The handle is formed when the price of the asset pulls back slightly, creating a smaller “u” shape. This phase represents a retest of the support level established during the cup formation.
The handle is a critical component of the pattern, as it is often seen as a buying opportunity for traders. If the handle forms correctly, it can signal that the consolidation period is coming to an end and that the price is likely to continue its upward trend.
Once the handle formation is complete, the stock may reverse course and resume its prior uptrend. Traders can use this pattern as a signal to enter a long position in the asset, with a stop-loss order placed just below the support level established during the cup formation.
Key Components of a Cup and Handle Pattern:
The pattern consists of three key components:
Cup
Handle
Neckline/Resistance
Key Components of a Cup and Handle Pattern:
Important aspects:
1. Prior Trend
In general, the Cup and Handle pattern is a bullish continuation pattern and occurs in up-trending stocks. However, some traders also use it as a reversal pattern in a downtrend or sideways trend.
2. Cup length
When analyzing the Cup and Handle pattern, it is important to pay attention to the shape and characteristics of the cup formation. Typically, cups with longer and more “U” shaped bottoms provide a stronger signal, indicating a more prolonged period of consolidation and a stronger base of support.
Ideally, the perfect Cup and Handle pattern would have equal highs on both sides of the cup, indicating a symmetrical and stable consolidation phase. However, this is not always the case, and traders should be cautious when analyzing asymmetrical cups. While an asymmetrical cup can still be a valid pattern, it may indicate a less stable consolidation phase and a weaker support base.
On the other hand, cups with sharp “V” shaped bottoms should generally be avoided, as they indicate a lack of consolidation and weak support levels. These types of cups are less likely to provide a valid base for the subsequent handle formation and can lead to false signals.
3. Cup depth
While the ideal depth of the cup formation can vary widely depending on the asset being analyzed, a depth of up to 60-70% of the previous uptrend may still be considered valid. However, in general, it is best to look for cup formations with a depth of around 50% of the previous uptrend.
4. Handle
The handle can occur in several forms, including a flag, pennant, or rectangular consolidation, and typically retraces anywhere between 40-60% of the depth of the cup.
However, it is important to avoid handles that are overly deep, as they may weaken the bullish signal and decrease the likelihood of a continuation of the uptrend. Generally, the best Cup and Handle patterns have a shallow retracement on the handle, with a depth not exceeding 50% of the cup. In some cases, the price may also retrace up to the 0.618 Fibonacci level.
5. Breakout
A breakout above the reaction highs and neckline serves as a bullish confirmation of the Cup and Handle pattern. When the price breaks above the neckline or the resistance level, accompanied by a surge in trading volume, the pattern is considered complete, and a bullish trend is expected to follow. It’s important to note that after the breakout, the price may test the demand by returning to the neckline before moving higher.
6. Volume
Ideally, the trading volume should decrease during the formation of the base of the cup as well as during the formation of the handle. Conversely, the volume spike when the price breaks above the neckline level, confirming the breakout. However, it’s essential to note that these are only guidelines and the actual volumes may vary in practice.
7. Target
Using the measurement objective technique, we can easily determine the target of the Cup and Handle pattern, which is equal to the depth of the cup. To calculate this, measure the vertical distance between the lowest point of the cup’s base and the neckline. By adding this distance to the breakout point, we can estimate the price target for the up move.
The target comes out to be equal to the depth of the cup. (Chart courtesy: TradngView)
8. Stop-loss
One common approach is to place the stop-loss at the lowest point of the handle. This level is often seen as a critical support level, and a break below it can indicate that the pattern has failed and that the asset is likely to continue its downward trend.
However, in situations where the price oscillates up and down several times within the handle, placing the stop-loss at the lowest point may not be the most effective approach. In these cases, then the stop-loss order can also be placed below the most recent swing low.
Stop loss placed under the low of the handle.
Exhibits
A Cup and Handle pattern with a shallow handle in the shape of a parallel channel
The handle can occur in several forms, including a flag, pennant, or rectangular consolidation.
A Successful Cup and Handle pattern with a V-shaped cup and a shallow handle
Sometimes the V-shaped cup and handles also play out successfully.
Cup and Handle pattern with a failed breakout
Like this article? Don’t forget to share it with your friends! Follow me for more educational content.
#feedfeverchallenge #technicalanalysis #chartpatterns #cryptotrading #cupandhandle
#BTC / #USDT update
#bitcoin has recently exhibited a breakdown of the head and shoulders pattern, followed by a successful retest below it.
Currently, it is maintaining its position above the 100-day moving average (MA).
If the sustained breakdown of the MA 100 occurs, it would confirm a potential movement towards the indicated trendline and horizontal support levels. A significant increase in trading volume is expected at these levels, potentially leading to a rebound.
However, in the event of a rebound from the current levels, with the bulls managing to reclaim the neckline of the head and shoulders pattern, it would be considered a #Bullish signal.
#technicalanalysis
#bitcoin has recently exhibited a breakdown of the head and shoulders pattern, followed by a successful retest below it.
Currently, it is maintaining its position above the 100-day moving average (MA).
If the sustained breakdown of the MA 100 occurs, it would confirm a potential movement towards the indicated trendline and horizontal support levels. A significant increase in trading volume is expected at these levels, potentially leading to a rebound.
However, in the event of a rebound from the current levels, with the bulls managing to reclaim the neckline of the head and shoulders pattern, it would be considered a #Bullish signal.
#technicalanalysis
what is technical analysis ?
T.A is trading approach that use historical price data and indicators to predict price mmovement, helping trades make inform decision based on pattern and trends.
#binancepizza #t.a #technicalanalysis
T.A is trading approach that use historical price data and indicators to predict price mmovement, helping trades make inform decision based on pattern and trends.
#binancepizza #t.a #technicalanalysis
Made by streltcoff $COMP 1D @cvizorcom data:
TREND 🔴🔴🔴🔴🔴
MA 🔴 RSI 🔴 12:01 11.05.2023
Volume 1D 2.63 M
CD Week -0.58 M
The price has broken below support, and now the level of $38 will act as resistance. On a bounce, one can look for an entry for a short position, with a target of $33. There is no entry for a long position at the moment.
#cryptotrading #altcointrading #trading #technicalanalysis #cryptoanalysis
TREND 🔴🔴🔴🔴🔴
MA 🔴 RSI 🔴 12:01 11.05.2023
Volume 1D 2.63 M
CD Week -0.58 M
The price has broken below support, and now the level of $38 will act as resistance. On a bounce, one can look for an entry for a short position, with a target of $33. There is no entry for a long position at the moment.
#cryptotrading #altcointrading #trading #technicalanalysis #cryptoanalysis
BTC 4H ANALYSIS #technicalanalysis
Btc 4H structure is bearish. After taking out inducement(idm) liquidity BTC may down below 25760, or build more liquidity above 29000 and then dump below 25760. Btc structure will turn bullish if a candle close above the major swing high which is at 31100. In the current situation, the possibility of going below 25760 is high. You can choose 15 m for taking entries if you choose 4H as the major time frame.
Btc 4H structure is bearish. After taking out inducement(idm) liquidity BTC may down below 25760, or build more liquidity above 29000 and then dump below 25760. Btc structure will turn bullish if a candle close above the major swing high which is at 31100. In the current situation, the possibility of going below 25760 is high. You can choose 15 m for taking entries if you choose 4H as the major time frame.
XRP Aims For $0.50, Hinges on Breaking Through This Price Level
Despite the prevailing bearish sentiment in the market last week, #Ripple (XRP) bulls showcased their resilience by securing gains. #XRP stood out among the top 20 cryptocurrency assets, recording impressive weekly gains of over 8%. Although the daily chart displayed a relatively modest increase of more than 1%, it was enough to maintain the bullish momentum.
The technical outlook for XRP revealed an improvement in buying strength, with demand and accumulation indicators reflecting a recovery on the daily chart.
However, the price movement of major altcoins remained uncertain as Bitcoin slipped back into the $26,000 price level. The future trajectory of XRP will depend on the performance of #BTC in the upcoming trading sessions.
Buyers will gain further strength if BTC exhibits improvement, leading to increased demand for XRP. Conversely, if demand fails to rise significantly, it could impede the growth of the XRP price. Another positive sign was the recovery of market capitalization, indicating increased demand and buying strength.
XRP Price Analysis: One-Day Chart
XRP was priced at $0.46 on the one-day chart | Source: XRPUSD on TradingView
As of the time of writing, Ripple (XRP) was trading at $0.46. The altcoin demonstrated a significant breakthrough by surpassing the crucial resistance level of $0.44, increasing demand for the asset.
Moving forward, the next obstacle for XRP lies at the overhead resistance of $0.48, which is expected to pose a tough challenge for the coin. However, if the altcoin manages to overcome this resistance level, it could potentially target the $0.50 mark.
Conversely, a decline from the current price level would bring XRP down to $0.44, potentially even below the $0.42 price mark. The recent session witnessed a positive momentum for XRP, as indicated by the green volume bar of the altcoin traded.
Technical Analysis
XRP noted an uptick in buying strength on the one-day chart | Source: XRPUSD on TradingView
Upon the price breakthrough above the $0.44 level, buyers swiftly entered the market, exhibiting a surge in demand for the altcoin. This heightened interest is further supported by the Relative Strength Index (RSI), which currently positions itself above the half-line, just below the 60-mark.
This indicates that buying strength outweighs selling strength at the present moment, underlining the positive sentiment surrounding the altcoin.
Furthermore, the asset’s price has risen above the 20-Simple Moving Average (SMA) line, suggesting that buyers were driving the price momentum in the market.
XRP noted buying signal on the one-day chart | Source: XRPUSD on TradingView
The increase in demand for the altcoin is reflected in the buy signals observed on the one-day chart for XRP. The Awesome Oscillator determines price direction and momentum. It generated small green signals closely tied to buy signals for the altcoin.
This suggests a positive price action for the coin, highlighting the potential for further upward movement. Additionally, the Bollinger Bands, which measure price volatility and potential fluctuations, maintained a wide range. However, the parallel alignment of the bands indicates that the altcoin may trade within a relatively narrow range in the upcoming trading sessions.
source: newsbtc
image source: ai
#CryptoDailyDigest #technicalanalysis
Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
The technical outlook for XRP revealed an improvement in buying strength, with demand and accumulation indicators reflecting a recovery on the daily chart.
However, the price movement of major altcoins remained uncertain as Bitcoin slipped back into the $26,000 price level. The future trajectory of XRP will depend on the performance of #BTC in the upcoming trading sessions.
Buyers will gain further strength if BTC exhibits improvement, leading to increased demand for XRP. Conversely, if demand fails to rise significantly, it could impede the growth of the XRP price. Another positive sign was the recovery of market capitalization, indicating increased demand and buying strength.
XRP Price Analysis: One-Day Chart
XRP was priced at $0.46 on the one-day chart | Source: XRPUSD on TradingView
As of the time of writing, Ripple (XRP) was trading at $0.46. The altcoin demonstrated a significant breakthrough by surpassing the crucial resistance level of $0.44, increasing demand for the asset.
Moving forward, the next obstacle for XRP lies at the overhead resistance of $0.48, which is expected to pose a tough challenge for the coin. However, if the altcoin manages to overcome this resistance level, it could potentially target the $0.50 mark.
Conversely, a decline from the current price level would bring XRP down to $0.44, potentially even below the $0.42 price mark. The recent session witnessed a positive momentum for XRP, as indicated by the green volume bar of the altcoin traded.
Technical Analysis
XRP noted an uptick in buying strength on the one-day chart | Source: XRPUSD on TradingView
Upon the price breakthrough above the $0.44 level, buyers swiftly entered the market, exhibiting a surge in demand for the altcoin. This heightened interest is further supported by the Relative Strength Index (RSI), which currently positions itself above the half-line, just below the 60-mark.
This indicates that buying strength outweighs selling strength at the present moment, underlining the positive sentiment surrounding the altcoin.
Furthermore, the asset’s price has risen above the 20-Simple Moving Average (SMA) line, suggesting that buyers were driving the price momentum in the market.
XRP noted buying signal on the one-day chart | Source: XRPUSD on TradingView
The increase in demand for the altcoin is reflected in the buy signals observed on the one-day chart for XRP. The Awesome Oscillator determines price direction and momentum. It generated small green signals closely tied to buy signals for the altcoin.
This suggests a positive price action for the coin, highlighting the potential for further upward movement. Additionally, the Bollinger Bands, which measure price volatility and potential fluctuations, maintained a wide range. However, the parallel alignment of the bands indicates that the altcoin may trade within a relatively narrow range in the upcoming trading sessions.
source: newsbtc
image source: ai
#CryptoDailyDigest #technicalanalysis
Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
#BTC / #USDT update 📊
$BTC is currently displaying a falling wedge pattern on the 1D time frame, with the price holding above its support trendline.
The Relative Strength Index (RSI) is in the oversold region and showing signs of bullish divergence. 🚀
If the price bounces from the current level and breaks out of the falling wedge and the Ichimoku cloud, it would serve as confirmation of a bullish trend. 👊
However, if there is a significant breakdown of the falling wedge, further correction is likely to occur.
#crypto2023 #trading #technicalanalysis
$BNB $ETH
$BTC is currently displaying a falling wedge pattern on the 1D time frame, with the price holding above its support trendline.
The Relative Strength Index (RSI) is in the oversold region and showing signs of bullish divergence. 🚀
If the price bounces from the current level and breaks out of the falling wedge and the Ichimoku cloud, it would serve as confirmation of a bullish trend. 👊
However, if there is a significant breakdown of the falling wedge, further correction is likely to occur.
#crypto2023 #trading #technicalanalysis
$BNB $ETH
Understanding The Bullish and Bearish Head & Shoulder Pattern
Head and Shoulders Pattern and Inverted Head and Shoulders Pattern are two technical chart patterns used in financial analysis to predict future price movements of assets such as stocks, currencies, and commodities. These patterns are named for their distinctive shape that resembles a human head and shoulders, or an inverted head and shoulders.
Bearish Head & Shoulder Pattern
Head and Shoulders Pattern is a bearish pattern that indicates a possible trend reversal from an uptrend to a downtrend. The pattern consists of three peaks, with the middle peak being the highest, and the two outer peaks being almost equal in height. The middle peak is called the head, while the two outer peaks are called the shoulders. The neckline, which is drawn across the lows of the pattern, acts as a support level. When the price breaks below the neckline, it is a signal that the trend has reversed, and the price is likely to continue downward.
Bullish Head & Shoulder Pattern
On the other hand, the Inverted Head and Shoulders Pattern is a bullish pattern that indicates a possible trend reversal from a downtrend to an uptrend. This pattern is the opposite of the Head and Shoulders Pattern, with three troughs instead of peaks. The middle trough is the lowest, and the two outer troughs are almost equal in depth. The neckline, which is drawn across the highs of the pattern, acts as a resistance level. When the price breaks above the neckline, it is a signal that the trend has reversed, and the price is likely to continue upward.
Traders and investors use these patterns to identify potential buying or selling opportunities. The Head and Shoulders Pattern can be used to identify an uptrend that is losing momentum, and the Inverted Head and Shoulders Pattern can be used to identify a downtrend that is losing momentum. These patterns are also used to set price targets and stop-loss levels.
It is important to note that these patterns are not foolproof and should be used in conjunction with other technical indicators and analysis tools. Traders should also be aware of false signals and market noise that can affect the accuracy of these patterns.
In conclusion, the Head and Shoulders Pattern and Inverted Head and Shoulders Pattern are two important technical chart patterns used in financial analysis to predict future price movements. These patterns are valuable tools for traders and investors to identify potential trend reversals and set price targets and stop-loss levels. However, it is important to use these patterns in conjunction with other technical indicators and analysis tools and to be aware of false signals and market noise.
#crypto2023 #technicalanalysis #dyor #nfa
Disclaimer: Information provided in this article is collected from internet and for educational purpose only. This is not a financial advise.
Bearish Head & Shoulder Pattern
Head and Shoulders Pattern is a bearish pattern that indicates a possible trend reversal from an uptrend to a downtrend. The pattern consists of three peaks, with the middle peak being the highest, and the two outer peaks being almost equal in height. The middle peak is called the head, while the two outer peaks are called the shoulders. The neckline, which is drawn across the lows of the pattern, acts as a support level. When the price breaks below the neckline, it is a signal that the trend has reversed, and the price is likely to continue downward.
Bullish Head & Shoulder Pattern
On the other hand, the Inverted Head and Shoulders Pattern is a bullish pattern that indicates a possible trend reversal from a downtrend to an uptrend. This pattern is the opposite of the Head and Shoulders Pattern, with three troughs instead of peaks. The middle trough is the lowest, and the two outer troughs are almost equal in depth. The neckline, which is drawn across the highs of the pattern, acts as a resistance level. When the price breaks above the neckline, it is a signal that the trend has reversed, and the price is likely to continue upward.
Traders and investors use these patterns to identify potential buying or selling opportunities. The Head and Shoulders Pattern can be used to identify an uptrend that is losing momentum, and the Inverted Head and Shoulders Pattern can be used to identify a downtrend that is losing momentum. These patterns are also used to set price targets and stop-loss levels.
It is important to note that these patterns are not foolproof and should be used in conjunction with other technical indicators and analysis tools. Traders should also be aware of false signals and market noise that can affect the accuracy of these patterns.
In conclusion, the Head and Shoulders Pattern and Inverted Head and Shoulders Pattern are two important technical chart patterns used in financial analysis to predict future price movements. These patterns are valuable tools for traders and investors to identify potential trend reversals and set price targets and stop-loss levels. However, it is important to use these patterns in conjunction with other technical indicators and analysis tools and to be aware of false signals and market noise.
#crypto2023 #technicalanalysis #dyor #nfa
Disclaimer: Information provided in this article is collected from internet and for educational purpose only. This is not a financial advise.
#BTC / #USDT update
BTC is currently consolidating below the neckline of the head and shoulder pattern.
It is currently maintaining support above $26,500 and the 100-day moving average (MA 100).
The MACD crossover is indicating neutral signals.
Confirmation of a sustained breakdown below the MA 100 would suggest a further downward movement towards the horizontal support.
Conversely, if BTC bounces from its current level and successfully reclaims the neckline of the head and shoulder pattern, it could indicate a resurgence of #Bullish sentiment in the market.
#technicalanalysis #bitcoin
BTC is currently consolidating below the neckline of the head and shoulder pattern.
It is currently maintaining support above $26,500 and the 100-day moving average (MA 100).
The MACD crossover is indicating neutral signals.
Confirmation of a sustained breakdown below the MA 100 would suggest a further downward movement towards the horizontal support.
Conversely, if BTC bounces from its current level and successfully reclaims the neckline of the head and shoulder pattern, it could indicate a resurgence of #Bullish sentiment in the market.
#technicalanalysis #bitcoin
Made by streltcoff $AUDIO 1D
@cvizorcom data:
TREND 🔴🔴🔴🔴🔴
MA 🔴 RSI 🔴 12:01 11.05.2023
Volume 1D 2.84 M
CD Week -0.76 M
The coin has reached the first target, experienced a weak bounce, and continues to decline. The next target for the movement is at $0.20. There is no entry for a long position at the moment. Intraday, it is possible to enter a short position on a bounce. Alternatively, one can wait for the price to establish below the support level (yellow line) and enter on a retest of that level as resistance.
#cryptotrading #technicalanalysis #altcoins #cryptomarket #cryptoanalysis
@cvizorcom data:
TREND 🔴🔴🔴🔴🔴
MA 🔴 RSI 🔴 12:01 11.05.2023
Volume 1D 2.84 M
CD Week -0.76 M
The coin has reached the first target, experienced a weak bounce, and continues to decline. The next target for the movement is at $0.20. There is no entry for a long position at the moment. Intraday, it is possible to enter a short position on a bounce. Alternatively, one can wait for the price to establish below the support level (yellow line) and enter on a retest of that level as resistance.
#cryptotrading #technicalanalysis #altcoins #cryptomarket #cryptoanalysis
Bitcoin Bulls Back in Charge? Technicals Signal Potential $80K Rally
Technical analysts at 10x Research are watching Bitcoin closely after a bullish breakout from its recent triangle consolidation pattern. This could indicate an upswing towards the $80,000 mark.
Key Takeaways:
* Triangle patterns can suggest price direction after consolidation.
* Bullish breakouts often lead to further gains.
* $80K target represents significant upside potential.
Are you bullish on Bitcoin's near future? Share your thoughts in the comments.
#Bitcoin #BTC #cryptocurrency #technicalanalysis #bullish
Technical analysts at 10x Research are watching Bitcoin closely after a bullish breakout from its recent triangle consolidation pattern. This could indicate an upswing towards the $80,000 mark.
Key Takeaways:
* Triangle patterns can suggest price direction after consolidation.
* Bullish breakouts often lead to further gains.
* $80K target represents significant upside potential.
Are you bullish on Bitcoin's near future? Share your thoughts in the comments.
#Bitcoin #BTC #cryptocurrency #technicalanalysis #bullish
the Exponential Moving Average (EMA) 500 is pretty important when it comes to understanding long-term trends in the financial markets. It's like a tool that smoothes out all the ups and downs in prices over a big chunk of time, giving us a better idea of where things are heading. For folks like me who want to make smart decisions based on the bigger picture, the EMA 500 can be super helpful.
It's not as popular as those shorter-term EMAs (like EMA 20 or 50). One reason for that is because it takes longer to catch up with recent price changes.
Another thing is that using the EMA 500 can make technical analysis a bit more complicated. I mean, we traders like to use different indicators to figure out our strategies, and adding a longer-term EMA into the mix can make things a bit trickier to interpret.
#BTC #technicalanalysis
It's not as popular as those shorter-term EMAs (like EMA 20 or 50). One reason for that is because it takes longer to catch up with recent price changes.
Another thing is that using the EMA 500 can make technical analysis a bit more complicated. I mean, we traders like to use different indicators to figure out our strategies, and adding a longer-term EMA into the mix can make things a bit trickier to interpret.
#BTC #technicalanalysis
