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VTHO/USDVTHO update and a quick look to the future opportunities that may arise, not just VTHO but all crypto assets, because downtrends don’t last forever. Here is a closer look at this VTHO 1 day chart. At the moment VTHO is below its Least Squares Moving Average (LSMA) on this 1 day timeframe. A daily close below the LSMA is considered a sell signal. At the moment, VTHO is fighting to stay above its Bollinger Bands Middle Band Basis 20 Period SMA on this 1 day timeframe. If VTHO closes below the BB Basis and re-test it as resistance then we should expect VTHO to drop to its BB Lower Band level. VTHO is below its Volume Profile Fixed Range Point of Control (VPFR POC) fro the fixed range of 5x daily candles that i have selected. Zoomed out on this 1 day VTHO chart, the Volume Profile Visible Range Point of Control (VPVR POC) is around $0.001480. For your viewing pleasure i have added various support and resistance areas as highlighted by the Horizontal Black Lines with Yellow shading. I have also added 2 descending support lines (Blue Lines on chart). If we look at the Average Directional Index (ADX DI), we can see that Positive Momentum has dropped with the +DI (Green Line) dropping to 24.29 but Negative Momentum has also dropped with the -DI (Red Lien dropping to 19.04. The Trend Strength is weak with the ADX (Orange Line) at 19.19 and still under its 9 Period EMA (Black Line) and now under the 20 Threshold. We need the +DI (Green Line) to stay above the -DI (Red Line) on this 1 day timeframe, if not then further downwards momentum will continue. If we look at the STOCHASTIC Indicator (STOCH) we can see that momentum is slightly upwards but i would say sideways within a range at the moment with the %K Line (Blue Line) still under its %D (Orange Line) which is a further sign of upwards strength weakness. Not that the %K Line (Blue Line) still has room to drop before becoming Oversold on this 1 day timeframe. Be on the lookout for when the %K Line (Blue Line) strongly crosses back above the %D (Orange Line) on strong volume. At the moment, like most other cryptos, VTHO is under the influence of BTC. With this mid to potentially long term downtrend, a lot of opportunities will soon arise because downtrends don’t last forever. Previous Volume POCs will potentially become new POCs and become area of strong volume control, be tested again as support and if it holds, it can again offer opportunities to allow you to acquire your crypto of choice at an unbelievable discount. From the 9th Feb 2021 to 16th April 2021, VTHO did a massive rise from its POC starting around $0.00145 and eventually rising to $0.02738………. That is around a 1794% move up! You want to buy near the BOTTOM of that 1794% and sell near the TOP of the 1794% This is just my opinion but a lot of people seem to get caught up in the hype of BTC and ETH and foolishly ignore the low cap coins that can potentually offer much higher returns and i believe that cryptos like VTHO and a few others can offer that once again, especially after this downtrend is over, even if that downtrend takes a year or 2 because we have to factor in what is happening to the economy at the moment, because like it or not, when the stock market crashes……. BTC and most other cryptos will follow. Diversification is key. I hope this is helpful with your trading and hodl-ing.
by TradingThroughTheLens
MATIC/USDHere is a closer look at this MATIC 1d Binance chart. MATIC is in a massive Ascending Triangle Pattern on the 1 day chart. An Ascending Triangle Pattern is potentially a Bullish Continuation Pattern. The APEX of this Triangle Pattern is around July 2022. For your viewing pleasure, I have added various support and resistance lines within this Ascending Triangle. At the moment, MATIC is ABOVE its Bollinger Bands Middle Band Basis 20 Period SMA for this 1 day timeframe. Note that the Upper and Lower Bands are converging inwards indicating volatility has slowed at the moment. Note that MATIC is still above its Least Squares Moving Average (LSMA) for this 1 day timeframe. MATIC is above its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 11x daily candle that i have selected. Note that MATIC is still above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range. Note that Volume is still low on this Binance chart and note that the last 8x Volume Bars have been BELOW its Volume 20 Period MA. Looking at the Average Direction Index (ADX DI) we can see that the Trend Strength is still strong but has lost some strength with the ADX (Orange Line) dropping slightly to 27.562 below its 9 Period EMA (Black Line) which is at 27.585. Note that Negative Momentum has dropped sharply with the -DI (Red Line) dropping to 26.771. Positive Mmentum has also dropped slightly but not as sharply with the +DI (Green Line) at 18.693. For sustainable upwards momentum to continue, we need the +DI (Green Line) to CROSS back ABOVE the -DI (Red Line) on this 1 day timeframe. Looking at the Moving Average Convergence Divergence (MACD) we can see that momentum is upwards at the moment and the MACD Line (Blue Line) is still ABOVE its Signal Line (Orange Line) on this 1 day timeframe. Note that the MACD Line (Blue Line) has not been above the 0.0 Base Line in the Positive Zone since 7th Jan 2022 on this 1 day timeframe. Be on the lookout for when the MACD Line crosses back above the 0.0 Base Line into the Positive Zone. Taking a quick look at the Relative Strength Index (RSI) we can see that momentum at the moment is slightly downwards. Not that the RSI (Purple Line) is still ABOVE its 9 Period EMA (Orange Line) which is a sign of upwards momentum strength at the moment. Be on the lookout just incase the RSI (Purple Line) drops more and crosses back below its 9 Period EMA (Orange Line). MATIC needs to stay above the Bollinger Bands Middle Band Basis 20 Period SMA and the LSMA indicator for any longterm upwards momentum to be sustainable. If BTC takes another nose dive and causes MATIC to drop downwards out of the Ascending Triangle Pattern then MATIC may drop to its VPVR POC around $0.83 so we need to keep an eye on what BTC is doing as BTC still controls the market direction. If the Ascending Triangle Pattern stays valid, then MATIC may be in for a big move up to possibly well above $10 if it successfully breaks back above the Ascending Triangle Resistance line. I hope this is helpful with your trading and hodl-ing.
M
by TradingThroughTheLens
1
ADA/USDHere is a closer look at this ADA 1 day Binance chart. As you can see, ADA is in a massive Descending Triangle Pattern. A Descending Triangle Pattern is potentially a Bearish Continuation Pattern. Note that ADA is still ABOVE its Longterm Pitchfork Median Line on this 1 day timeframe. ADA is still below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1 day timeframe. Note that the Upper and Lower Bands are starting to contract and pinch inwards. At the moment ADA is above its Least Squares Moving Average (LSMA) on this 1 day timeframe. Volume is still low on this Binance daily chart and note that the last 13x daily Volume Bars have been below its Volume 20 Period Moving Average. At the moment ADA is above its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 12x daily candles that i have selected. If we zoom in on the chart, at the moment ADA is below its Volume Profile Visible Range (VPVR POC) for this charts visible range. If we look at the Average Directional Index (ADX DI) we can see that the Trend Strength is very weak with the ADX (Orange Line) at 16.185 and dropping below the 20 Threshold and under its 9 Period EMA (Black Line) which is at 18.559. Positive Momentum has increased with the +DI (Green Line) dropping slightly to 21.931. Negative Momentum has decreased with the -DI (Red Line) dropping to 20.268. We need the +DI (Green line) to stay above the -DI (Red Line) and move further apart. Taking a quick look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is indicating momentum is upwards at the moment and it is still above its Signal Line (Orange Line) but note that the MACD Line (Blue Line) is still under the 0.0 Base Line in the Negative Zone. Note that the MACD Line (Blue Line) has not been above the 0.0 Base Line in the Positive Zone since 20th Jan 2022 on this 1 day timeframe. Taking a quick look at the Relative Strength Index (RSI) we can see that momentum is downwards art the moment and note that the RSI (Purple Line) is still above its 9 Period EMA (Orange Line) but because momentum is downwards we need to keep an eye on the RSI (Purple Line) the close it gets to its 9 Period EMA (Orange Line). At the moment i still think it's Sideways at best or Downwards at worst for ADA. For any longterm recovery to become sustainable for ADA, we need ADA to make a higher high and CLOSE a daily candle ABOVE the $1.63 blue highlighted area. I hope this is helpful with your trading and hodl-ing.
BINANCE:ADAUSD
by TradingThroughTheLens
4
BTC/USDToday could be a very crucial daily candle close for BTC. Note that if this daily candle closes ABOVE the Descending Trend-line, it will also close ABOVE the Bollinger Bands Middle Band Basis 20 Period SMA on this 1 day timeframe. Note that if/when BTC closes a daily candle ABOVE the BB Middle Band Basis, it will be the first time it has done so since the 27th December 2021. If/when BTC closes a daily candle ABOVE the Descending Trend-line then a successful re-test as support will be crucial for continued upwards momentum and proof that the bottom has now been and gone. Failure to close a daily candle ABOVE the Descending Trend-line will result in more downside momentum.
BITSTAMP:BTCUSD
by TradingThroughTheLens
5
BitcoinVPVR Range - The Bottom Confirmation?The VPVR range typically measures the volume of the most traded areas. The red line highlights the highest value area or "the floor" for the "value area". The value area is the bold colours, this demonstrates 70% of all traded volume. How does this indicator work? The red line is typically tested and considered "support" during bull market cycles... it is considered resistance during bear market cycles. We have so far tested this as support successfully once. It could happen again but it gives confidence that we are typically returning to the highest value area as part of a macro correction in what is expected to be prolonged long term bull market (no blow off top imo). The yellow boxes - These have been added to demonstrate the 2 other high value areas above the floor. Although I believe we will have a bull continuation, these 2 areas are crucial in confirming continuation or switching to a bear market. I would typically expect us to be rejected "once" against each area, set a higher low on the pump and then break through and re-test. This behavior for me will confirm continuation. If we get rejected and return to the floor we will be at serious risk of flipping to bear. For myself the most important range is $55k+ that will be the most difficult to break through and stay above. Other Notes: the VPVR typically shows all volume traded within the specific timeframe shown on the graph, so it changes dynamically. I find this helps for a macro understanding and some traders do use VPVR for trading based on high/low volume areas. Not something I use on the micro but is definitely an interesting indicator to be considered. The lower the vpvr scores the faster price action will move through that range.
Long
by JBHodler
1
UK100A quick look at the FTSE100 Index using the traditional Ichimoku Cloud Settings of 9,26,52,26 and the MACD Indicator. The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the Mid-Point of the Short-Term momentum is downwards at the moment. The Ichimoku Cloud Base Line (Kijun Sen) is indicating the Mid-Point of the Mid-Term momentum is sideways at the moment but that may possibly change to downwards momentum once a significant low is created for the 26 periods. The Ichimoku Cloud Lagging Span (Chikou Span) is indicating that momentum at the moment is downwards. Note that the Lagging Span (Chikou Span) is now under the Price from 26 Periods ago. At the moment the Price is still in the Bullish Zone of the Ichimoku Cloud but is getting close to the Ichimoku Cloud Leading Span A (Senkou Span A) support level. At the moment of typing this, there is very little distance between the Leading Span A (Senkou Span A) and Leading Span B (Senkou Span B) support and resistance levels below the price. Note that the Leading Span A (Senkou Span A) level is pointing downwards. Note that the Last 5x Volume Bars have closed above its Volume 20 Period MA in the red. The Price is still below its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 8x 1hr candles that i have selected. The Price is still way above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range. If we look at the Moving Average Convergence Divergence (MACD), we can see that the MACD Line is still under is Signal Line and is indicating momentum is downwards at the moment. Note that the MACD Line as dropped under its 0.0 Base Line into the Negative Zone on this 1hr timeframe and that the Red Histograms are increasing in size. If you are waiting for confirmation to go long, you need the MACD Line to cross back ABOVE the Signal Line creating a Buy Signal for this 1hr timeframe. Be on the lookout for a break below the Leading Span B (Senkou Span B) level into the Bearish Zone and a successfully re-test of the Leading Span B (Senkou Span B) level as Resistance, after that, full Bearish confirmation on this 1hr timeframe will be when the Leading Span A (Senkou Span A) crosses below the Leading Span B (Senkou Span B) creating a Kumo (Cloud) Twist into a new Bearish Red Cloud. I hope this is helpful with trading.
CAPITALCOM:UK100Short
by TradingThroughTheLens
VET/USD - Potential Bullish DivergenceWe have a potential Bullish Divergence with the Price on the VET Chart and the MACD Line on the Moving Average Convergence Divergence (MACD) indicator as indicated by the Converging Blue Lines. Note that the MACD RED Histograms have also shrunk in size, confirmation will be if the MACD Line (Blue Line) crosses back above the Signal Line (Orange Line) on this 1 day timeframe. Note that the Stochastic Indicator (STOCH) is showing that VET has plenty of room to move up before entering the Overbought Zone on this 1 day timeframe. Note that the %K (Blue Line) is still above the %D (Orange Line). At the moment of typing this, VET is fighting stay above its Least Squares Moving Average (LSMA) on this 1d timeframe. A successful daily candle CLOSE above the LSMA on this 1 day timeframe will be considered a Buy Signal for this indicator. At the moment VET is back above its Bollinger Bands Lower Band but note that VET is still well below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1 day timeframe. For any recovery to become sustainable longterm, we need the Price to CLOSE above the BB Middle Band Basis with a successful re-test as support on this 1 day timeframe. VET is also in a Falling Wedge Pattern on this 1 day timeframe. A Falling Wedge Pattern is a potential Reversal Pattern. Note that the APEX of the Falling Wedge Pattern is at $0.026 which is around 22nd March 2022. At the moment of typing this, VET is back above its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 6x daily candles that i have selected. Obviously VET is still under the influence of BTC so we have to keep an eye on what BTC is doing as a drop with BTC will drag all alts down with it. I hope this is helpful with your Trading and Hodl-ing.
BINANCE:VETUSD
by TradingThroughTheLens
2
$SMH Bear Flag, Dip & RipSMH has sold off through the median of the pitchfork with more volume than the uptrend (Oct 21 to Nov 21). There is a likelyhood that we are doing "as above, so below" pattern where the price rejects the upper channel, supply exhausts, then comes back down to mirror down below to look for demand. As of now SMH is hammering near the outer channel. I'll be looking for a low volume bear flag where bulls try to drive the price up just beyond the gap fill. Shortly after it'll be key to watch the bears step in and drive price down to 252. After a bit of accumulation, should we continue to stay in this trend (since COVID) I can see the price quickly moving back to the median shortly after options expiration in Feb.
NASDAQ:SMH
by GammaRayGoated
40K the price to hold for BTCBitcoin is currently at a pivotal point. If we can hold the 40k lvl, a bullish move upwards is possible. In that case, we should try to gain the previous range (45K). And a rejection of the previous range is also possible. if we can't keep the 40k lvl and close a (at least a 4 hour) candle below it, we can see a fast move towards 35/36k. The VPVR shows that between 45k and 36k very little handles volume has taken place. Around 36k we see the volume increases drastically, this shows where there may be support and where there is willingness to buy. Let's wait and see...
BITFINEX:BTCUSD
by ADBCrypto
ADA - another 1d chart updateAt the moment, ADA is back above its Bollinger Bands Middle,Band Basis 20 Period SMA on this 1d timeframe. ADA needs to close this daily candle above the BB Middle Band Basis. Note that it looks like the Upper and Lower Bands may start pinching inwards if a significant new high or low cannot be achieved. ADA has found some resistance from its Least Squares Moving Average (LSMA) on this 1d timeframe. Note that the LSMA is currently at the Horizontal Resistance Line (Dotted Line) at $1.382. Note that ADA is still in the Bearish Zone of the Ichimoku Cloud. ADA is still below its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 8x 1d candles that i have selected. At the moment, ADA is fighting to stay above its Volume Profile Visible Range (VPVR POC) for this charts visible Range. A daily close above this level is crucial for continued upwards momentum. Note that the last 3 Volume Bars closed above its Volume 20 Period MA. I have added some key Resistance and Support Areas indicated by the Horizontal Parallel Black Line with Yellow Shading. If we take a look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Base Line and is indicating momentum is sideways at the moment. Note that the MACD Line (Blue Line) is still above its Signal Line (Orange Line) for this 1d timeframe. Note that the MACD Line (Blue Line) has not been in the Positive Zone above the 0.0 Base Line since the 17th Sept 2021. Looking at the Stochastic Indicator (STOCH) we can see that momentum at the moment is upwards, we may see more upwards momentum on this 1d timeframe if the %K (Blue Line) successfully crosses back above the %D (Orange Line) and stays above it. If we take a look at the Average Directional Index (ADX DI) its looking scary as the +DI (Green Line) is at 18.301 and has crossed back under the -DI (Red Line) which is at 18.401 indicating that Negative Momentum has overtaken Positive Momentum on this 1d timeframe. We 100% need the +DI (Green Line) to cross back above the -DI (Red Line) on this 1d timeframe. Note that the Trend Strength has dropped with the ADX (Orange Line) at 24.445 and it is below its 9 Period EMA (Black Line) which is at 30.164 further indicating the Trend Strength is indeed becoming weak. At the moment, from my perspective it’s looking like SIDEWAYS within a range at best or DOWNWARDS at worst for ADA. Be on the lookout for any successful close above the BB Middle Basis and successfully re-test as support on this 1d timeframe. As always, we need to keep an eye on what BTC is doing because BTC is in a H&S Pattern. If BTC drops below and more importantly CLOSES below the Neckline of the H&S Pattern then that will effect all alts including ADA in a negative way. I hope you have found this ADA analysis post helpful with your Trading and Hodl-ing. Notes: LSMA = Black Squiggly line on Chart Bollinger Bands = Grey Bands on Chart Resistance and Support Areas = Horizontal Parallel Black Lines with Yellow Shading on Chart Volume Bars = Bars Bottom of Chart Volume 20 MA = Orange Line going through Volume Bars on Chart Ichimoku Cloud = Red and Green Cloud on Chart VPFR POC = Short Horizontal Blue Line on Chart VPVR POC = Long Horizontal Blue Line on Chart
BINANCE:ADAUSD
by TradingThroughTheLens
8
BTC - Descending Triangle on the 4hrBTC is in a Descending Triangle Pattern on the 4hr. A Descending Triangle is a Bearish Chart Pattern. Note that BTC has bounced off the base of the Descending Triangle 5 times as support. BTC is still under its Bollinger Bands Middle Band Basis 20 Period SMA for this 4hr timeframe. BTC has dropped under its Least Squares Moving Average (LSMA) and it looks like BTC will close this 4hr Candle below the LSMA which will be a sell signal for this indicator. The Moving Average Convergence Divergence (MACD) has also gone negative into a sell signal. If you are waiting to go long with BTC, I would tread very carefully as there could potentially be much lower prices coming up if BTC breaks below and more importantly closes below the Descending Triangle. I hope this is helpful with your trading and hodl-ing
BITSTAMP:BTCUSD
by TradingThroughTheLens
VTHO - quick 1d chart updateNote that VTHO is in a Descending Channel on this 1d timeframe. VTHO is also potentially in a Symmetrical Triangle pattern. VTHO is still below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. Note that we may see the Lower Bollinger Band start to curve inwards if upwards momentum continues. VTHO is back above and has closed yesterday’s daily candle above its Least Squares Moving Average (LSMA) for this 1d timeframe. A close above the LSMA is a buy signal for traders who use this indicator. VTHO is still below its VPFR POC for this chart’s fixed range of 10 daily candles that i have selected. Be on the look out when/if VTHO closes successfully a daily candle above the VPFR POC. VTHO is still under its VPVR POC for this chart’s visible range. Volume is still relatively low on this Binance Chart and note that the last 5 daily Volume Bars have been below its Volume 20 period MA. Note that VTHO is still in the Bearish Zone of the Ichimoku Cloud using the 20,60,120,30 settings. For the longterm, we need VTHO to keep heading upwards towards the Ichimoku Cloud Equilibrium Zone on this 1d timeframe. Looking at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is curving upwards and looks like it may cross back over the Signal Line (Orange Line) which would be a buy signal of varying degree because the MACD Lien (Blue Line) is still under the 0.0 Base Line in the Negative Zone on this 1d timeframe. Note that we have not had a MACD Green Histogram since 11th Nov 2021. So long as VTHO stays above the LSMA, be on the look for a daily candle close back above the Bollinger Bands Middle Band Basis 20 Period SMA and successful retest as support. Also be on the look out for when/if the MACD Line (Blue Line) crosses back above the Signal Line (Orange Line) on this 1d timeframe creating a potential buy signal for traders who use the MACD indicator. I hope this is helpful with your trading and hodl-ing. Notes: Symmetrical Triangle = Ascending & Descending Converging Black Lines on Chart Descending Channel = Descending Parallel Black Lines on Chart LSMA = Black Squiggly line on Chart Bollinger Bands = Grey Bands on Chart Volume Bars = Bars Bottom of Chart Volume 20 MA = Orange Line going through Volume Bars on Chart Ichimoku Cloud = Red and Green Cloud on Chart VPFR POC = Short Horizontal Red Line on Chart VPVR POC = Long Horizontal Red Line on Chart
by TradingThroughTheLens
$NNDM Presents a Unique Valuation PlayStarting out on TradingView I been doing alot of BTC and Crypto related TA and then slowly moved on into stocks. My biggest winner would be NNDM with Maxar a close second. With that said, I've been watching NNDM for a hot minute and think theres some long term and very speculative short term opportunities a head. Zooming out on the day chart and pulling up a marketcycle chart, its very scary how close this symbolizes this stock. Atm if it is a marketcycle, than we would be at the very bottom this stock will ever go in the current cycle. Alot of emotions can be heard in the ER call of q3 2021, which alot of salty retail and hedge PO about the stock price. I laugh and see this as a buy with people so down its somewhat funny to see. NEWS -Q3 ER wasn't omg level, but it showed that the growth of YOAV is taking with this company is what anyone should do for long term growth. Spend money on long term growth than a quick pump and dump. -ER sales that was boosted massivly was due to the M&A of Nanofabrica, and Q4 ER if YOAV is right will be a monster growth due to the M&A of Essemtec -Cathie woods continues to buy TA: This is just what I see in the markets atm - A strong buy preasure holding the stock from dropping under $4. The reason for this is that this stock is trading UNDER CASH ON HAND. This doesn't count the other assests, debt, nor the labilities the company have. A fair value on Cash on Hand would be aroung $5.25-$5.75. - It is trading at our RSI line of 47.77. Anything above that line tends to be bullish, under is bearish. ATM its trading sideways so Neutral - VPVR levels show support at $4.60 and resistance at $4.85. This is creating a sideways type pattern of heavy accumulation. Makes sense since its trading under CoH - We are getting rejected at the 50ema, a mjor move above the 50ema my have a domino affect of pushing the price higher. Targets are first $5.25, 5.62, 5.88, and 6.06 - MACD shows some signs of bullish momentum trying to start. Final thoughts I desided to buy shares between 4.80 and 4.50s along with jan 1 2022 $10 c. This company has been devalued and just alot of downers as the stock price slips giving a perfect time to buy into the stock.
NASDAQ:NNDMLong
by nathanielx9
Quick BTC 4hr chart updateBTC Update: BTC is back above its Bollinger Bands Middle Band Basis 20 Period SMA for this 4hr timeframe. Note that BTC is above its Bollinger Bands Upper Band and we have expansion of the Upper and Lower Bands and this expansion is for positive momentum. Note that BTC is still in the Bearish Zone of the Ichimoku Cloud on this 4hr timeframe. BTC is also back above its Least Squares Moving Average (LSMA) for this 4hr timeframe. A candle close above this indicator is a potential buy signal for traders who use this indicator. BTC is back above its Descending Pitchfork Median Line (Black A,B,C). Note that we have a new C Pivot point for our Ascending Pitchfork Pattern (Red A,B,C). BTC is back above its Volume Profile Fixed Range Point of Control for this charts fixed range of 15x 4hr candles that i have selected. Note that BTC is still below its Volume Profile Visible Range Point of Control for this charts visible range. Volume on this Bitstamp Chart is still relatively low and note that the last 6x 4hr Volume Bars have been below its Volume 20 Period Moving Average. The Average Directional Index (ADX DI) is indicating a sharp rise in Positive Momentum with the +DI (Green Line) rising to 24.02 and the -DI (Red Line) dropping to 15,72. Note that the ADX (Orange Line) is at 17.83 and has started to curve upwards indicating the Positive Trend Strength is increasing in Strength. The 9 Period EMA (Black Line) is at 19.04 so we may see the ADX (Orange Line) eventually cross back over and above its 9 Period EMA (Black Line). We also need the ADX (Orange Line) to cross back over the 20 Threshold (Horizontal Dashed Black line) on this 4hr timeframe. The Moving Average Convergence Divergence (MACD) is also indicating a sharp rise in Positive Momentum with the MACD Line (Blue Line) back in the Positive Zone and above the 0,0 Base Line. Note that we also have increasing Green Histograms. Note that this is the first time since 15th Nov 2021 that the MACD Line (Blue Line) has been in the Positive Zone of the MACD indicator on this 4hr timeframe. I have added 2 areas of interest using the Parallel Channel tool. BTC needs to stay above the Lower Parallel Channel around $55,610 - $55,100 and this is BTC's potential bottom on this 4hr timeframe. BTC also needs to break back above and more importantly close back above the Upper Parallel Channel around $59,480 - $60,148. Closing above $60,148 takes BTC into the Equilibrium Zone of the Ichimoku Cloud, and also back above its Ascending Pitchfork Lower Green Resistance Line (Red A,B,C). It also takes BTC back above its Descending Pitchfork Upper Green Resistance Line (Black A,B,C) so this is an important area for BTC to close above. Note that because BTC is above its Bollinger Bands Upper Band, a retrace back under the Upper Band shouldn’t come as a surprise to you. It should be an interesting weekend. I hope this is helpful with your trading and Hodl-ing. Notes: Bollinger Bands = Grey Bands on Chart LSMA = Black Squiggly Line on Chart VPFR POC = Short Horizontal Red Line on Chart VPVR POC = Long Horizontal Red Line on Chart Important Resistance Zone = Upper Parallel Black Line with Yellow Shading on Chart Important Support Zone = Lower Parallel Black Lines with Yellow Shading on Chart Volume Moving Average = Orange Line going through Volume Bars on Chart Descending Pitchfork Pattern = Black A,B,C on Chart Ascending Pitchfork Pattern = Red A,B,C on Chart Support and Resistance Lines - Horizontal Dashed Black Lines on Chart
BITSTAMP:BTCUSD
by TradingThroughTheLens
2