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This is a daily chart of the ATOM/USD perpetual futures contract on Binance. Here’s an analysis of the chart:
Descending Channel Breakout:
The price has been in a descending channel (marked by yellow trendlines) for several months.Recently, ATOM has broken out of this channel, signaling a shift in trend from bearish to bullish.
Support and Resistance Levels:
Support: Around $3.66 (blue line) represents the recent bottom and key support level.Resistance: The price is testing the $6.04 to $7.00 zone (yellow rectangle), which previously acted as a strong supply zone.
Volume:
There’s a significant spike in volume, which confirms strong buying interest after the breakout.
RSI Indicator:
The RSI (Relative Strength Index) is trending upward but nearing overbought levels, indicating momentum but also potential for a pullback.
Breakout Scenario:
If the price can break above the $7.00 resistance zone with strong volume, ATOM could target higher levels, such as $8.00 or $10.00.
Pullback Scenario:
If the price fails to clear $7.00, it could retrace to retest $5.57 or even the breakout level near $4.00. $ATOM $ETH $BTC
#ATOM #Cosmos #TA #CryptoSignals #altsesaon
Descending Channel Breakout:
The price has been in a descending channel (marked by yellow trendlines) for several months.Recently, ATOM has broken out of this channel, signaling a shift in trend from bearish to bullish.
Support and Resistance Levels:
Support: Around $3.66 (blue line) represents the recent bottom and key support level.Resistance: The price is testing the $6.04 to $7.00 zone (yellow rectangle), which previously acted as a strong supply zone.
Volume:
There’s a significant spike in volume, which confirms strong buying interest after the breakout.
RSI Indicator:
The RSI (Relative Strength Index) is trending upward but nearing overbought levels, indicating momentum but also potential for a pullback.
Breakout Scenario:
If the price can break above the $7.00 resistance zone with strong volume, ATOM could target higher levels, such as $8.00 or $10.00.
Pullback Scenario:
If the price fails to clear $7.00, it could retrace to retest $5.57 or even the breakout level near $4.00. $ATOM $ETH $BTC
#ATOM #Cosmos #TA #CryptoSignals #altsesaon
How will BTC perform in the coming months? There are 2 possibilities. My humble angles:-
(1) Rise to around 48,000 & then go through a "major" correction. The 48,000 level is the 0.618 fibonacci retracement from previous peak & also a strong resistance around May 2022 when BTC rebounded. These 2 make this level a very hard nut to crack in 1 attempt. In 2020, the same situation happened. Coincidence? However, in 2020 situation, covid shocked the world & understandably BTC reacted adversely. Do note BTC can make corrections along the way up due to profit taking.
(2) Drop to around 24,500 range. BTC bounced twice on this level. There is a chance it will bounce here again. Heaven forbid it crashing through this level as next level would be around 20,000.
The weekly MACD & Stochastics are showing bullish signals. Seems (1) is supported.
#BTC #Crypto #Cryptocurrency #TA
(1) Rise to around 48,000 & then go through a "major" correction. The 48,000 level is the 0.618 fibonacci retracement from previous peak & also a strong resistance around May 2022 when BTC rebounded. These 2 make this level a very hard nut to crack in 1 attempt. In 2020, the same situation happened. Coincidence? However, in 2020 situation, covid shocked the world & understandably BTC reacted adversely. Do note BTC can make corrections along the way up due to profit taking.
(2) Drop to around 24,500 range. BTC bounced twice on this level. There is a chance it will bounce here again. Heaven forbid it crashing through this level as next level would be around 20,000.
The weekly MACD & Stochastics are showing bullish signals. Seems (1) is supported.
#BTC #Crypto #Cryptocurrency #TA
#Write2Earn
#Write2Learn #SajidWaris
Never Never Never Take a short position onto A top pumping coin without confirmations.
This is an advice for the #NewTraders otherwise you will lose your capital.
if u need any free of cost analysis and help about #TA i'll be there.
Do not take a position against a trend until it breaks.
A small profit in just a few minutes.
#Write2Learn #SajidWaris
Never Never Never Take a short position onto A top pumping coin without confirmations.
This is an advice for the #NewTraders otherwise you will lose your capital.
if u need any free of cost analysis and help about #TA i'll be there.
Do not take a position against a trend until it breaks.
A small profit in just a few minutes.
BTC Weekly chart
Some observations from my side. Do add your comments if you have other alternative views. It would help give a better picture to all.
The BTC Weekly chart shows the MACD cutting the signal line from below. This is bullish. Also, the MACD is forming green bars. Hopefully the green bars grow to taller ones which would mean the run has strength.
The Bollinger bands is very narrow on the weekly chart. In the coming months, they will open up & price chart is likely to move upwards. This opening up of the Bollinger bands would mean an explosive upward move by the price.
Do note that there are many, many views in TA. Each view would see a different side of the picture & sometimes they are contradictory. One can see a 15 min chart & see a correction vs a weekly chart that shows a bullish market. Do understand the view that is being discussed.
#BTC #crypto #cryptocurrency #TA $BTC
Some observations from my side. Do add your comments if you have other alternative views. It would help give a better picture to all.
The BTC Weekly chart shows the MACD cutting the signal line from below. This is bullish. Also, the MACD is forming green bars. Hopefully the green bars grow to taller ones which would mean the run has strength.
The Bollinger bands is very narrow on the weekly chart. In the coming months, they will open up & price chart is likely to move upwards. This opening up of the Bollinger bands would mean an explosive upward move by the price.
Do note that there are many, many views in TA. Each view would see a different side of the picture & sometimes they are contradictory. One can see a 15 min chart & see a correction vs a weekly chart that shows a bullish market. Do understand the view that is being discussed.
#BTC #crypto #cryptocurrency #TA $BTC
If you're just starting out in the crypto space this advice is for you.
Here's some crypto advice using the acronym "PATIENT":
P - Proper Research: Before investing, thoroughly research the cryptocurrency to understand its technology, team, and potential.
A -Avoid Hype: Be cautious of hype and speculation; focus on the long-term fundamentals rather than short-term fluctuations.
T - Take Profits: Consider taking profits at strategic points to secure gains and manage risk.
I - Informed Decisions: Stay informed about market trends, regulatory changes, and news that may impact your investments.
E - Emerging Projects: Explore emerging projects but exercise caution, and only invest what you can afford to lose.
N - Never FOMO: Avoid the Fear of Missing Out (FOMO); don't rush into investments without proper analysis.
T - Technical Analysis: Use technical analysis as a tool for understanding price trends and potential entry/exit points.
$BTC $ETH $SOL
#FOMOexplained
#TrendingTopic
#TA #crypto
Here's some crypto advice using the acronym "PATIENT":
P - Proper Research: Before investing, thoroughly research the cryptocurrency to understand its technology, team, and potential.
A -Avoid Hype: Be cautious of hype and speculation; focus on the long-term fundamentals rather than short-term fluctuations.
T - Take Profits: Consider taking profits at strategic points to secure gains and manage risk.
I - Informed Decisions: Stay informed about market trends, regulatory changes, and news that may impact your investments.
E - Emerging Projects: Explore emerging projects but exercise caution, and only invest what you can afford to lose.
N - Never FOMO: Avoid the Fear of Missing Out (FOMO); don't rush into investments without proper analysis.
T - Technical Analysis: Use technical analysis as a tool for understanding price trends and potential entry/exit points.
$BTC $ETH $SOL
#FOMOexplained
#TrendingTopic
#TA #crypto
$BTC
📈 $BTCUSDT analysis 📉
🔍 Forming a large cup on daily timeframe, indicating potential bullish momentum ahead.
🎯 Potential retracement at 38k, also invalidating Head and Shoulders pattern.
💡 Further push could target 29,562.7, a 60% Fibonacci retracement level.
#dyor #TA #nfa #Bitcoin #CryptoTradingTip 🚀
📈 $BTCUSDT analysis 📉
🔍 Forming a large cup on daily timeframe, indicating potential bullish momentum ahead.
🎯 Potential retracement at 38k, also invalidating Head and Shoulders pattern.
💡 Further push could target 29,562.7, a 60% Fibonacci retracement level.
#dyor #TA #nfa #Bitcoin #CryptoTradingTip 🚀
🟢🔴 Divergences are used for Spotting Trend Reversals or Continuations.
#RSI #MACD #Bullish #Bearish #Positive #Negative #Hidden #Reversal #divergences #TA
#RSI #MACD #Bullish #Bearish #Positive #Negative #Hidden #Reversal #divergences #TA
Technical analysis is a method of evaluating financial markets by analyzing statistics generated by market activity, such as past prices and volume.
#technicalanalysis #financialmarkets #Technology #BTC #TA
#technicalanalysis #financialmarkets #Technology #BTC #TA
Just like people can't agree on whether the glass is half full or half empty, #TechnicalAnalysis is also very subjective.
Different analysts may see different patterns in a trend, or see the same trend but interpret it differently.
Combining different #TA tools is useful.
Different analysts may see different patterns in a trend, or see the same trend but interpret it differently.
Combining different #TA tools is useful.
#Bitcoin Time to accumulate is ticking away.⌛️⏲️
#BTC accumulation phase is nearing its end according to Williams %R. I hope you were among those who dared scooping up some during this period.
#crypto2023 #BTC #dyor #TA
#BTC accumulation phase is nearing its end according to Williams %R. I hope you were among those who dared scooping up some during this period.
#crypto2023 #BTC #dyor #TA
Ethereum price analysis ✏️
The negative divergence on the RSI that price action has been forming for the past few days has played out in a quick 10% drop from highs, the price moved below the 20-day MA during liquidation, but now bulls made sure it's back above the line 📊
The ETH/BTC pair continues to trade lower as BTC dominance is still very high, Ethereum is underperforming many L2 alts, and often ETH's price action looks weak.
🐮 If the price bounces off the current level, bulls will try to resume the uptrend by pushing ETH above $2,403. If they do, we could see a rally to $2,500 and later to $3,000 after testing support levels.
In the long term, an optimistic bullish view will only be invalidated if the price manages to close below the 50-day SMA ($2,020) during this correction, then it's probably lights out for bulls 🪦
#TA
#BinanceTournament
The negative divergence on the RSI that price action has been forming for the past few days has played out in a quick 10% drop from highs, the price moved below the 20-day MA during liquidation, but now bulls made sure it's back above the line 📊
The ETH/BTC pair continues to trade lower as BTC dominance is still very high, Ethereum is underperforming many L2 alts, and often ETH's price action looks weak.
🐮 If the price bounces off the current level, bulls will try to resume the uptrend by pushing ETH above $2,403. If they do, we could see a rally to $2,500 and later to $3,000 after testing support levels.
In the long term, an optimistic bullish view will only be invalidated if the price manages to close below the 50-day SMA ($2,020) during this correction, then it's probably lights out for bulls 🪦
#TA
#BinanceTournament
Not Daily TA - provided by @snypeai
The trading day for NOT/USDT has demonstrated an interesting interplay of various technical indicators, suggesting both momentum and volatility. As of the latest close on June 12, 2024, the price of NOT/USDT stood at 0.018266, marking a recovery from the recent low of 0.015268 within the same day.
The moving averages paint a picture of the market's current sentiment. The Exponential Moving Average (EMA) at 0.014091 indicates a relatively recent upward trend. The Weighted Moving Average (WMA) and Triple Exponential Moving Average (TEMA) support this, highlighting a smoother and more gradual increase in price. Notably, the T3 moving average is at 0.018929, further reinforcing the bullish momentum.
Momentum indicators provide a deeper insight into the market's strength. The Average Directional Index (ADX) at 60.549 signifies a strong trend, with the Positive Directional Index (DX) at 29.730 suggesting upward momentum. This is further corroborated by the Aroon indicator, where the Aroon Up is at 28.571, while the Aroon Down is at zero, indicating a recent positive shift. Additionally, the Rate of Change (ROC) at -19.256 suggests that despite recent gains, there has been significant downward pressure over a longer period, possibly indicating corrections or pullbacks.
The market's volatility is underscored by the Average True Range (ATR) at 0.003059, reflecting the recent fluctuations in price. The Bollinger Bands show a lower band at 0.003214 and an upper band at 0.027046, with a middle band at 0.015130, indicating a wide range and potential for further volatility. The Normalized Average True Range (NATR) at 16.743 highlights the normalized volatility, emphasizing how substantial the recent price movements have been.
Volume indicators also provide crucial context. The On-Balance Volume (OBV) at 233,729,231,487 indicates significant accumulation, suggesting that despite price fluctuations, there has been consistent buying pressure. The Accumulation/Distribution (AD) line supports this with a value of 79,094,502,914.6, further indicating that the asset has been under accumulation. However, the Chaikin Money Flow (CMF) at 0.185179 shows some caution, indicating that while there has been inflow, it's not overwhelmingly bullish.
Support and resistance levels derived from pivot points indicate critical levels to watch. The pivot point stands at 0.017611, with resistance levels at 0.019955, 0.021643, and 0.023987. On the downside, support levels are at 0.015923, 0.013579, and 0.011891. These levels can provide traders with potential entry and exit points based on market behavior.
In conclusion, NOT/USDT exhibits strong momentum with significant volatility. The bullish indicators from moving averages and momentum oscillators are tempered by recent corrections suggested by the ROC and the high volatility indicated by the ATR and Bollinger Bands. Traders should consider these factors along with support and resistance levels to navigate the market effectively.
$NOT
#TA #TechnicalAnalysis
The moving averages paint a picture of the market's current sentiment. The Exponential Moving Average (EMA) at 0.014091 indicates a relatively recent upward trend. The Weighted Moving Average (WMA) and Triple Exponential Moving Average (TEMA) support this, highlighting a smoother and more gradual increase in price. Notably, the T3 moving average is at 0.018929, further reinforcing the bullish momentum.
Momentum indicators provide a deeper insight into the market's strength. The Average Directional Index (ADX) at 60.549 signifies a strong trend, with the Positive Directional Index (DX) at 29.730 suggesting upward momentum. This is further corroborated by the Aroon indicator, where the Aroon Up is at 28.571, while the Aroon Down is at zero, indicating a recent positive shift. Additionally, the Rate of Change (ROC) at -19.256 suggests that despite recent gains, there has been significant downward pressure over a longer period, possibly indicating corrections or pullbacks.
The market's volatility is underscored by the Average True Range (ATR) at 0.003059, reflecting the recent fluctuations in price. The Bollinger Bands show a lower band at 0.003214 and an upper band at 0.027046, with a middle band at 0.015130, indicating a wide range and potential for further volatility. The Normalized Average True Range (NATR) at 16.743 highlights the normalized volatility, emphasizing how substantial the recent price movements have been.
Volume indicators also provide crucial context. The On-Balance Volume (OBV) at 233,729,231,487 indicates significant accumulation, suggesting that despite price fluctuations, there has been consistent buying pressure. The Accumulation/Distribution (AD) line supports this with a value of 79,094,502,914.6, further indicating that the asset has been under accumulation. However, the Chaikin Money Flow (CMF) at 0.185179 shows some caution, indicating that while there has been inflow, it's not overwhelmingly bullish.
Support and resistance levels derived from pivot points indicate critical levels to watch. The pivot point stands at 0.017611, with resistance levels at 0.019955, 0.021643, and 0.023987. On the downside, support levels are at 0.015923, 0.013579, and 0.011891. These levels can provide traders with potential entry and exit points based on market behavior.
In conclusion, NOT/USDT exhibits strong momentum with significant volatility. The bullish indicators from moving averages and momentum oscillators are tempered by recent corrections suggested by the ROC and the high volatility indicated by the ATR and Bollinger Bands. Traders should consider these factors along with support and resistance levels to navigate the market effectively.
$NOT
#TA #TechnicalAnalysis