Today's analysis is about UNIUSDT on 1D timeframe. UNI is the governance token for Uniswap , just like BNB is for Binance exchange. But UNI has shown about 2800% gains in just 7 months. Uniswap is a decentralized exchange (DEX) that makes it easy for users to swap an ERC-20 token for another ERC-20 token without the need of a centralized intermediary. Let's...
This analysis is based on 1HR timeframe for LINKUSDTPERP contracts on Binance-Futures. LINK have tried to break the previous resistance for the 4th time now. If it breaks this time, it can go up and try to break it's previous ATH. We can also see that it has bounced off from the recent higher low(also acted as a support) which is again bullish. If it breaks...
This analysis is for XRPUSDT on 4HR Timeframe XRP have recently touched the 1$ mark and have achieved this with a good volume. RSI have seen a downward movement after visiting the overbought zone and achieving an ATH. For MACD, the signal line is looking to cross down the macd line. If the price holds support1 which is at $0.9, this is good for XRP in order to...
This analysis is for BNBUSDT on 4H timeframe. I am using below setup for this analysis Indicator used : MFI (Money Flow Index) which is more like a volume RSI and tells us if an asset is in overbought or oversold zone. If MFI is above 80, it shows it's in the overbought zone. If below 20, it's oversold. This is the basic setup, though can be changed as per...
This analysis is for ETHUSDT on Binance using 4H timeframe I am using below setup for this analysis Moving Averages Used: 20/50/100/200 Indicator used : RSI Also using support and resistance lines. As we can see the RSI is overbought (Trading above 70), but at the same time ETH have broken the previous resistance. Relative Strength Index can stay in overbought...
So to start off this idea, let me give you a small lesson about what a descending/falling wedge actually is.. The descending/falling wedge The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to...
Short and sweet We are on the verge of heading much higher, not only with all of the fundamentals in the news recently.. But also this is what price action is telling us... We need to break out above the red resistance box, break up through $38,700 with a volume supported bounce to test it as support. Once we do that, we will likely revisit the all time high at...
We find ourselves within an ascending triangle, Ascending triangles are a bullish formation that anticipates an upside breakout. meaning we have a higher bias to break out towards the upside, In this situation the measured move, if the breakout is confirmed with volume, would be around the $40,300 zone. This scenario would be incredibly bullish, as that would...
We seem to be caught in a consolidation pattern, and this pattern has a bullish bias.. We are stuck in a bull pennant. If a bull pennant is formed after a pump, it is usually sign of a continuation towards the upside. now, Price targets.... BULLISH BIAS IF and only IF there is a 4hr close above the descending resistance line, and it comes back to retest it and...
So bitcoin found its self in a rising wedge, which tend to have a bearish bias... Though under the current market conditions everything is being completely ignored... With having breakout of this rising wedge, and confirming the breakout by retesting the ascending resistance as support, bitcoin has the potential to move all the way up to $42,300 i do want to...
Although Bitcoin took a dramatic pullback from the $34,770 level down to around the $28,000, it seems to have found support on an old resistance line which is incredibly bullish The only thing we need to pay attention to is breaking the previous high, ($34,770) If the previous high is broken, the first target will be around the $36,500 If we continue to remain...
So we seemed to be in an upward parallel channel, which unfortunately broke to the downside, We wicked slightly lower than the measured move price target and have recovered quite nicely since then. What we now see forming is a W pattern.... If we can stay above the neckline of the W pattern the given upper price target will be very likely however if we fail to...
Since we had a pretty nice pull-back, there are now a few elements coming together for what Bitcoin might be setting its self up to do.. If we stay above the Fibonacci golden pocket, and keep bullish above the channel, then we are only fuelling up for another massive move towards the All Time High at $20,000 I have drawn a Parabola on the chart to emphasize what...
Hey guys, Small update with brief information. We have found ourselves within a Smaller channel, This channel plays out in the bigger/longer term channel. What we do see evolving at the end of the smaller channel is, a downward sloping resistance, This could be bad news for our short term trend. If the Yellow line (downward sloping resistance) succeeds in...
In light of all that has happened today regarding Bitcoin dropping roughly $700, This is in fact a very healthy thing for the market to do. Bitcoin was WAY too overextended and when this happens, it gives all of our technical indicators a chance to reset somewhat. I have added a few annotations on the chart for things to look out for, But in the long term,...
Quite simply put, we have a chance to breakout in both directions of this pennant... if we do breakout towards the upside, then we will have a tough time breaking through the fibonacci resistance based around the $13,400 to $13,700. However!!!! If we do break through this level of resistance our next stop could be anywhere between $14,500 and $16,700 if we break...