Oversoldrsi
USDT.D Analysis: $ Dominance Dips, Opening Doors for Crypto?Hey traders,
Let's dive into Tether Dominance CRYPTOCAP:USDT.D and see what it might mean for the crypto market.
Channel Cracked:
USDT.D used to chill in a monthly channel for a while. But recently, it decided to break free, potentially paving the way for a continued decline in dollar dominance, reaching the next weekly resistance level.
RSI Bouncing Back (Maybe):
The Relative Strength Index (RSI) just stepped out of the oversold zone. This could signal a potential price bounce or a period of consolidation (think of it as the market taking a breather).
Crypto on the Rise?
As long as dollar dominance keeps falling, more money might flow into cryptocurrencies, potentially pushing their prices up.
Bitcoin's Buddies:
If this dollar decline happens alongside Bitcoin price fluctuations and a dip in its own dominance, we could see altcoins surge in an epic way!
The US Dollar Factor:
One big question mark: how will US policies affect the dollar's value and, in turn, crypto prices? Only time will tell.
Time to Take Profits?
If the RSI exits the oversold zone, it might be a good time to consider closing out your long positions (selling your crypto) or taking some profits off the table.
Remember:
This analysis is for educational purposes only, not financial advice. Do your own research and use proper risk management before making any trades.
DISH Network Macro technical developments point to BuyHi guys! So this is a look into DISH Network (DISH) technical analysis. This analysis is done on the 1 Month timeframe, thus depicting the Macro price action of DISH. This analysis does not express the shorter term or intermediate term trend but looks to assess the Long term trend.
The findings in this idea also support a buy and hold strategy for DISH. Do note that because of that it is possible for shorter term or intermediate term pullbacks. I will do my best to post updates on shorter timeframes to help assess better buy areas.
But anyway lets jump right in.
As you can see from the Highs of Dec. 2014, we've been in a continual price decline.
Depicted by "Major Resistance trendline", that has helped propel the downtrend.
We reached major Support Zone, to only break through and continue our downtrend.
Till we reached our Downtrend target zone. Here i was aspecting more downside, where price action would have traveled inside this zone.
This month however we have had a 45%+ bounce Up.
Currently in the process of creating a BULLISH ENGULFING CANDLE. It being on the 1 Month, makes it very Powerful.
Note though: This months candle closes Dec. 31st. So nothing has confirmed yet. But if on Jan 1st, we are still looking like this. This ENGULFING candle may indicate a macro trend change.
We have also from last months and this months candle, confirmed a Sloping Support trendline. This showcases the Uptrend and a Higher low on the Macro scale.
Notice also the 21 EMA (Purple moving average). This will continue to come down BUT it can be used as a target for where price will move to. We've also havent touched it since 2021. So probabilities dictate we will eventually touch it. So keep that in mind.
A likely target if this uptrend continues is the $9.00 level. That would be a critical area since breaking above will mean continued bullishness but a rejection could mean that there maybe a probability that we go lower, possibly into the DOwntrend target zone.
USD/CHF Buy Trade Setup Hello Traders 🙋🏽♂️
The price hit the demand zone, with oversold on RSI with it a buy signal.
🟠 EP 0.88977
🔴 SL 0.88784
🟢 TP1 0.89165
🟢 TP2 0.89375
🟢 TP3 0.89560
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Disclaimer
---------------
Trading is risky we all take loses
your responsibility is to not take more than 1% to 2% loss per trade and double your profits.
Tips to Help Demystify the RSIPrimary Chart: Tips to Help Demystify the RSI
Introduction to Momentum Indicators
Many indicators exist for technical analysis. And a number of them focus on momentum, which is distinguishable from other core technical concepts such as trend, support and resistance, volatility, and standard deviation. Momentum tools measure the velocity of a directional price move. Using a train as an analogy, momentum considers the speed, velocity and magnitude of the train's movement in a given direction, e.g., north or south. In a sense, it helps determine the strength and speed of the directional travel of the train.
By contrast, trend analysis considers whether a price move is consistently heading in a given direction. A trend can be valid despite corrective retracements, where price retraces a portion of the prior move, consolidates a portion of the prior move, and then resumes movement in the trend's direction. Using the same train analogy, trend analysis considers how effectively and persistently the train is moving in a given direction, such as north or south. Momentum, though, considers the train's speed and velocity in whatever direction the train is moving.
Many momentum indicators also are not limited to analyzing momentum and may have utility as a trend gauge as well. For example, Stochastics, MACD and RSI all have the additional capacity to help analyze trends.
Basic Concepts and Calculation of RSI
Created by J. Welles Wilder, the RSI is one of the most widely used and well-known momentum indicators. The acronym "RSI" means relative strength index. RSI should not be confused with the concept of relative strength, which compares one instrument or security against another to determine its outperformance or underperformance. Some other common momentum indicators that have been in use for many years include the Rate-of Change, Chande Momentum Oscillator, Stochastics, MACD, and CCI. Most momentum indicators, including RSI, share some conceptual aspects, such as overbought and oversold conditions and divergences, even though they may vary in the way they are calculated and interpreted.
Reviewing the way an indicator is calculated can sometimes help to sharpen one's understanding of it and interpret it more effectively. RSI's calculation is not as complex as some indicators. So reviewing its calculation remains an accessible exercise, but this is not essential to mastering the indicator. TradingView's RSI description contains a useful summary of how the indicator is calculated. See the Calculation section of the RSI description at this link: www.tradingview.com(close%2C%2014).
Another excellent description of how RSI is calculated may be found on this reputable technical-analysis website: school.stockcharts.com
To summarize, RSI's basic formula is as follows: RSI = 100 – (100 / 1 + RS), where RS = average gain / average loss.
Using the default lookback period of 14 (note that any lookback period can be selected), the calculation then proceeds to include 14 periods of data in the RS portion of the calculation (average gain / average loss). So the average gain over the past 14 periods is divided by the average loss over the past 14 periods to derive "RS," and then this RS value is plugged into the formula at the start of this paragraph. The subsequent calculations also have a lookback of 14 periods (using the default settings) but smooth the results.
Smoothing of these values then occurs by (1) multiplying the previous average gain by 13 and adding the current period's gain, if any, and dividing that sum by 14, and (2) multiplying the previous average loss by 13 and adding the current period's loss, if any, and dividing that sum by 14. If the lookback period is adjusted from the default of 14, then the formula and smoothing techniques will have to adjust for that different period.
In short, the calculation reveals that RSI's core function is to compare the size of recent gains against the size of recent losses and then normalize that result so the indicator's values may fluctuate between 0 to 100. Note that if a daily period is used, for example, the average day's gain is compared against the average day's loss over the lookback period selected. Similarly, if hours are used, the average hour's gain is compared against the average hour's loss over the relevant lookback period.
RSI can be used on any timeframe, including a 1-minute or 5-minute chart, and simply calculates its values based on the period to which the indicator is applied, based on a default using closing prices for the period specified. With TradingView's RSI indicator, traders have a great deal of flexibility in adjusting such defaults to some other preferred value, so the closing price need not be used—the default can be changed to the open, the high, the low, high+low/2, high+low+close/3, or several other options.
Interpreting RSI's Overbought and Oversold Signals
With some exceptions, the higher-probability RSI overbought (OB) and oversold (OS) signals align with the direction of the trend. The old trading adage remains valid for RSI as with other forms of technical analysis: the trend is your friend. In the chart below, consider the yellow circles flagging OS signals that could have been effective in the Nasdaq 100's uptrend in 2021.
Supplementary Chart A: Example of RSI OS Conditions That Align with an Uptrend and Key Support
As with other technical trade signals, countertrend setups should be avoided in the absence of overwhelming confirmation from other technical evidence. If a countertrend setup is traded, use extra caution and smaller position size. In this context, trading RSI signals against the trend means selling or entering a short or bearish position in an uptrend when an OB signal appears, or it means buying or entering bullish positions in a downtrend when an OS signal appears. It may also mean trading counter-trend positions as soon as RSI begins exiting an OB or OS zone.
Stated differently, trading overbought and oversold signals against the trend will likely result in mounting losses. Countertrend trades require much technical experience and significant trading expertise—and even the most experienced trading veterans and technical experts say that the counter-trend trades tend to be low probability setups. In short, never trade the RSI's OB and OS signals mechanically without considering any other technical evidence.
Supplementary Chart B: NDX OB Condition in an Uptrend
In the chart above, note how the Nasdaq 100 (NDX) reached a fairly high daily RSI reading of 77.17 on July 7, 2021. This chart shows an example of how even very high OB conditions can persist much longer than expected. RSI remained above 70 for over a trading week. And the ensuing pullback was not that significant, and it didn't reverse the uptrend at all. The risk-reward for mechanically trading this setup would have been poor, and stops would probably have been ignored at some point in the days following the signal. For an experienced trader with small position size, perhaps the second RSI peak immediately following the July 7, 2021 peak would have worked for a short-term trade given that a divergence arose (higher price high coinciding with a lower RSI high). But it would still have been a difficult trade requiring excellent timing and precision.
In summary, OB / OS signals should not be interpreted and traded mechanically. The trend and other technical evidence should always be considered. OB / OS signals work best when aligned with the direction of the trend on the relevant time frame. They also work best when taken at crucial support or resistance.
Consider several other tips and tricks when interpreting OB / OS signals on RSI.
1. The importance of an OB / OS signal depends not only on the context of the trend in which it arises but also on the time frame on which it appears and the lookback period used in its calculation. This is intuitive, but it helps to keep this in mind. For example, an OB / OS reading has a greater effect on the weekly or monthly chart than on the daily, and an OB / OS reading has a greater effect on daily chart than on the hourly or other intraday chart. Furthermore, if the RSI lookback period is set to 5 periods on a given time frame, the effect of an OB / OS reading will less significant than if the RSI lookback period is set to 14 (the default setting).
2. Consider past OB / OS readings for the same security or index being considered (using the same time frame for past and current OB / OS readings). Each security or index may have OB / OS levels that differ somewhat from other securities or indices. In addition, the OB / OS readings that are typical for a given a security, index or instrument may vary over time in different market environments. It may help to draw support or resistance lines on the RSI indicator within the same market environment and trend to determine what RSI OB / OS levels are typical. RSI support or resistance levels in an uptrend should not drawn to be applied and used in a downtrend for the same index or security.
Supplementary Chart C.1: RSI Support and Resistance Levels for NDX in 2021 on Daily Chart
Supplementary Chart C.2: Two RSI Downward Trendlines Drawn on BTC's Weekly Chart to Help Identify Resistance
3. Divergences can strengthen the effect of an OB / OS signal. Stated simply, a divergence occurs when the RSI and price are in conflict. For example, consider two or three subsequent higher highs in price that occur (this can happen in an uptrend or a bear rally or in a trading range). When price makes the second or third high, a divergence arises if RSI makes a lower high. Or consider two or three subsequent lower lows in price. When price makes the second or third lower low, a divergence arises if the RSI makes a higher low. A greater number of divergences presents a stronger signal than a lower number of divergences. And having divergences on multiple time frames can also be helpful. Finally, a divergence should not be traded until confirmation comes from price itself, i.e., a trendline or other support / resistance violation.
Supplementary Chart D: Example of RSI Bearish or Negative Divergence at NDX's All-Time High in November 2021
4. OB / OS signals also can be helpful in chop when they arise at the upper boundary of a well-defined trading range. In choppy trading ranges, one has a better trading edge at the edge. OB / OS signals that arise at the edge (at critical support / resistance) are the most useful. But depending on the trading strategy, setups in choppy trading ranges can be more difficult and lower probability than setups in strong trends.
Using RSI as a Trend-Analysis Tool
While primarily a momentum tool, the RSI has trend-analysis aspects. Because the RSI will likely remain in overbought (OB) or oversold (OS) for extended periods, it helps evaluate the strength and duration of price trends.
In an uptrend or bull market, the RSI (daily) tends to remain in the 40 to 90 range with the 35-50 zone acting as support. In a downtrend or bear market the RSI (daily) tends to stay between the 10 to 60 range with the 50-65 zone acting as resistance. These ranges will vary depending on the RSI settings, time frame, and the strength of the security or market’s underlying trend. As mentioned above, RSI readings will also vary from one security or index to another. They also vary in different market environments, e.g., a strong uptrend vs. a weak uptrend will have different OB / OS readings.
So the RSI can help confirm the trend when it moves within the RSI range that is typical of that security or index when trending. As a hypothetical example example, if a major index appears to be making higher highs and lower highs, respecting trendline and other key supports, and showing technical evidence of an uptrend, then RSI can help confirm this trend analysis by marking OS lows within the 35-50 range (perhaps 30 on a volatile pullback). RSI can also help time entries and exits when reaching the area that has been where RSI has found support in its current market environment.
The following points summarize how RSI tends to operate during trending price action:
During an uptrend, RSI will trend within the upper half of the range (roughly), moving into OB territory frequently (and at times persisting in the OB zone) and finding support around 35-50. When RSI finds support around 35-50, this may represent tradeable a price pullback—a retracement of the recent trend’s price move—that may work as a bullish entry if other technical evidence confirms.
During a downtrend, RSI will trend within the lower half of the range (roughly), moving into OS territory frequently (and at times persisting in the OS zone) and finding resistance around 50-65. When RSI finds resistance around 50-65 (sometimes higher given the violent nature of short-squeeze induced bear rallies), this may represent tradeable a price bounce—a retracement of the recent trend’s price move —that may work as a bearish entry if other technical evidence confirms.
RSI, like other indicators, cannot produce perfectly reliable and consistently accurate signals. Like other indicators, it can help identify higher probability trade setups when used correctly and when confirmed with other technical evidence. When considering trade setups in terms of probabilities rather than certainties, traders will find position sizing and risk management to be a vital part of any strategy that relies in part on the RSI.
VS | Nice Price Action Decline | BounceVersus Systems Inc. develops and operates a business-to-business software platform in the United States and Canada. The company operates eXtreme Engagement Online, a platform that allows live event producers, professional sports franchises, video game publishers and developers, live event producers, and professional sports franchises, as well as other interactive media content creators, to offer in-game prizing and rewards based on the completion of in-content challenges alongside other user engagement tools. It primarily sells its access to platform and service offerings through its direct sales organization. Versus Systems Inc. is headquartered in Vancouver, Canada.
GROV | I Love This Setup | LONGGrove Collaborative Holdings, Inc. operates as a plastic neutral consumer products retailer in the United States. It provides cleaning essentials, such as kitchen and bathroom cleaning products, household cleaners, hand and dish soaps, paper products, and laundry care products; home and pantry products, including home fragrances, bedding and bath products, cookware and dinnerware, and pest control products, as well as trash, recycling, and compost bags; and clean beauty, haircare, skincare, oral care, period care, and kids and personal care products. The company offers health and wellness products, such as air purifiers, condoms, sun care and tanning products, vitamins and supplements, and treatments and preventions products; pet care products; indoor gardening products, garden tools and accessories, grow kits, plant seeds, gardening soils, fertilizers and lawn care products, and insecticides. It offers its products through retail channels, third parties, and direct-to-consumer platform, and mobile applications. The company is based in San Francisco, California.
AEY | Good Entry Point | LONGADDvantage Technologies Group, Inc., through its subsidiaries, distributes and services electronics and hardware for the telecommunications industry in the United States and internationally. It operates through two segments, Wireless Infrastructure Services and Telecommunications. The Wireless Infrastructure Services segment provides turn-key wireless infrastructure services for U.S. wireless carriers, communication tower companies, national integrators, and original equipment manufacturers. This segment also offers installation and upgradation of technology on cell sites; and construction of new small cells for 5G. The Telecommunications segment provides central office equipment that include optical transport, switching, and data center equipment for communication networks; customer premise equipment, such as integrated access devices, channel banks, Internet protocol private branch exchange phones, and routers; and decommissioning services for surplus and obsolete telecom equipment. The company was formerly known as ADDvantage Media Group, Inc. and changed its name to ADDvantage Technologies Group, Inc. in December 1999. ADDvantage Technologies Group, Inc. was incorporated in 1989 and is headquartered in Carrollton, Texas.
BUY/USDT HODL ONTO YOUR DREAMBUY/USDT could be ready for one of the biggest reversals in the crypto alt-coin market. The time frame plays out to end of year to Q1 2022. This chart is strictly based on the RSI now trending up after being so far oversold in the weekly that by end of year we could potentially see an overbought. In 1day chart the 50ema is soon to cross the 200ema for a golden cross. This hold is a dream, will it come true?
Target Box Pivot Points For Spire Inc 1 of 2I have studied 15 recent buy signals for Spire and bumped the data against historical movements when similar buy signals occur. This is the cluster of all boxes. I will clean up in the next post for my final call on target bottoms and target tops. Regardless. The BUY signals stretch from August 19 through August 27. The larger PURPLE boxes are projected bottoms based on all historical data. The smaller PINK boxes are more specific bottoms based on the median data historical bottoms. While the bottom should occur in a purple box, my specific goals are in the pink boxes.
The larger BLUE boxes are target tops (likely after the move downward to PURPLE box areas) based on all historical movement. The smaller YELLOW boxes are the more specific target tops.
The next post will have the specifics.
This point could change everything! 😲The 21.57 is the most important line for us here. If we close above it, then we’ll go up again. This would be very good, and PLTR is also in a support in the 4h chart:
The 61.8 fibs retracement is holding us here, and the RSI is very oversold. Now we are about to fly again, but if PLTR breaks through the retracement, then it’ll drop below the 20.
Maybe it’ll give us a good chance to trade, maybe not. We’ll see.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
ImagineAR is set for a reversal (1 year upward trend)
IP / IPNFF is still oversold at the moment
MACD indicator has recovered and is preparing to switch to a bullish mode -> buy signals will be generated
prices of small cap companies should be rising again after the heavy drop and manipulation from April to mid May 2021
investors have not been rewarded so far despite of good news (partnership in NFT sector with LQID, new deals and collaborations in the sports sector, several successful sales of their SDK, new patent,...)
recent insider purchases of shares show trust and confidence in the company
RSI highly oversold --> Pullback expectedentry price: 8.75 --> above current price for assurance
Stop loss: 8.25
take profit: around 18 or higher.
$TRCH Bearish still in playBearish pattern still in play on the daily
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Another oversold pharma! Destiny Pharma (#DEST $DEST)See my chart for Oncimmune. Nice little bagger and similar conditions here.
RSI just above 20. Historically, price has bounced when RSI has been between 12-20. Bought a tranche already and ready to buy more if it does slip further (possible depending on when/if results are released as that may let stale retail holders out).
Price hovering on the lower BB bands so plenty of scope for recovery. Would have liked to seen the bands start narrowing but again another opportunity to buy more. Volume profile (weekly chart since IPO) about 44p.
However, Phase 2B results due in H2, which, if successful, would be a major rerate catalyst and broker has a 250p target which is nice ramp fodder. Realistically, they'll need funding for Phase 3 (be it a placing or investment from a major). So happy to take a bag here and evaluate at the time whether to take a free ride or all the funds.
Nokia potentially oversold on the alcatel lucent newsFundamentals:
Nokia took a big hit after stating that they are starting an internal investigation on alcatel lucent which they have bought. Investors reacted pretty hard to this and the stock was diving more that -8% during that day. It of course could be that there will be some negative facts to be found and in the worst case even some fines to be had. So there is of course a risk associated with longing the stock at this point.
However, let's consider this from a different perspective. The company decided willingly to start investigation and they contacted officials by themselves and they do not expect any concrete consequences on the company itself based on the investigation results. Of course this is their own statement and view on the matter and they would ideally always want to make it look like a minor thing even if it weren't. However, considering the other possibility that there won't be anything significant to be found on the investigations and there won't be any fines. The stock has dived more that -5% based on these news and the fear of the potential results. If nothing will be found this would suggest the stock was significantly oversold and should be looking to recover.
Techical side:
The technical side is quite simplistic. RSI9 shows that the stock is on the edge of being oversold and looking at the previous behavior the level 30 has often provided support and the price has bounced up. Sometimes of course this has been violated and can be the case here as well. However just considering the option that after the stock has been up and being valuated at the previous levels 5.25 - 5.6 after Q4 report it would be quite hard to believe the proper value would be below 5€ which is of course a very important support level.
Considering the both sides on this price crash I would suggest that Nokia is currently oversold and will be recovering when the investigations continue and if they show no concrete results suggesting significant fines to be had. I'd be looking to long Nokia now or at the fibonacci support at 5.065 which has been already tested briefly once. Stop loss should be placed below 5.065 support or 5.00 depending on your risk tolerance and personal view on how confident you are on these news.
Lastly considering the option that the investigations bring up skeletons in the closet and significant fines are had then the stop loss is still quite small and the potential reward in my opinion clearly out weights the risk.
Bitcoin - Closer to the bottom than you think!After failing to break up from an inverse head & shoulders as well as various wedges and triangles, it's safe to say that there won't be a terminal shakeout from these levels and the bears have the upper hand for now. Bitcoin fell out of market structure and wasn't able to rise back above the uptrend which we had been following since June so I believe we will now be following the orange-shaded descending channel until we have either a Van Eck ETF decision or until the start of the next bull run.
There is strong trend-line support connecting the December 2013 high, July 2017 high and the September 2017 low. This forms the support for an ascending channel which bitcoin has dropped into and the previous uptrend support (where Bitcoin broke market structure) is now the channel resistance. This channel resistance also connects the September 2017 high and the October 2017 low.
RSI is still heavily oversold on the daily chart so there should be some relief to the upside. This is an extended trend so RSI can stay oversold for a while and I don't think the price will rise above the $5660 - $5750 resistance in the short term. A move above this will most probably be capped at $5940.
Price should then fall to the channel support around $5k where the price should reverse around 10 December. There will probably be sideways action or a tight range until 29 December when the SEC is due to make a decision regarding the Van Eck / Solid X ETF which could be the catalyst for the next uptrend.
If the Van Eck ETF is not approved or is deferred until 28 February 2019, the price should then drop back towards the channel support at $4380 which coincides with the 78.6 fib retracement from the peak in December 2017. If the SEC decides to approve the ETF on 29 December 2018 or 28 February 2019, there should be a strong move back to the top of the channel for a potential start to the uptrend.
Price range between 78.6 fib and 88.6 fib is known as a hot-spot trading zone for Fibonnaci traders where high probability trades are likely to take place. This price range is between $2411.1 and $4384. If the channel support holds at $4384 then I expect this to be the absolute bottom of the overall retracement, which should take place around April 2019. A drop below this falls into the hot-spot trading zone which will really be the opportunity of a life time!
If $4384 is the bottom, there should be a retracement towards the 61.8 fib around $13350, if $5k is the bottom then the 61.8 fib is around $14200.
Good luck and happy trading!
BTC - 4h falling wedge + Bullish divergence TP $7,200Hi TradingView community,
Short term trend on BTC. For the first time in a long period, BTC starts to shows some bullishness on the 4h chart.
Trade setup:
- Steep falling wedge
- Oversold RSI
- Bullish RSI on Stoch RSI
/!\ Target top of the wedge at $7,200
/!\ Stop Low below 2d support at $6,300
This forecast is not a financial advice, study, exercise yourself, put into question your reasoning.
Well, strive to be a better trader tomorrow than we are today.
All the Best from the Crypto Space
Alteroc
AI Trader assistant, includes Bitmex (15% discount) --> app.aitrader.ai
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BTC - Bullish divergence at support with RSI oversold TP $7,200Dear community,
I was looking how far we could short BTC today and I think tomorrow we will see some green candles.
Trade setup:
- Bullish divergence on 1h timeframe
- RSI oversold
- Price at support forming triple bottom
Stop Loss : $6,660
Target profit: $7,200
All the Best from the Crypto Space
AI Trader assistant (15% discount) --> app.aitrader.ai
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