Altcoinsvsbtc
STMX Pump Time?If BTC.D help us this scenario can work like this
Besides technical analisis StormX Team are working on a few things for 2021
#IRIS Bottom Hit, Bounced+Bullish Divergence. 130% Possible!Welcome to this Quick Altcoin Setup. IRIS hit the bottom around 270 sats and bounced. I have seen some strong buying activity in the last few days showing the signs of accumulation.
If the next few candle closes above 21D MA it is highly likely that we can see a rally towards 360 level first and then all the way to 400 sats.
ENTRY : 285 TO 295
Targets :
365
395
446
486
544
577
679
Stop Loss : 268
Reason I am entering this trade is the SL is very low. Means there is a high reward for a very less risk.
If you find it interesting enough you can dig in.
Other trade setups are doing well that I recently posted and are above 10 to 15%+ already.
Hoping this one to pop up soon.
Do hit the like button if you like my updates and share your views in the comment section.
STAY SAFE
#PEACE
At KEY support level can we bounce off it?*DISCLAIMER: I am not a financial advisor and this is not financial advice as these are purely my opinions and speculations. I may also own or trade any of the symbols and cryptocurrencies mentioned in this video so do not make your trading or investing decisions based on this video. I do not guarantee any results nor am I responsible for your actions. You should always do your own due diligence before trading or investing in this market as it is extremely risky. Affiliate links are also included in this same video description section here and if you decide to support me by using any of them, I may receive a referral bonus or commission.
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Potential massive altcoin pump nearBTC.D has been pretty much following the exact same formation as in 2017 with 3 red followed by 2 green and a red candle just before a major loss in dominance.
The formation looks pretty much the same just on a smaller scale. There's a potential for a major altcoin rally next month with BTC.D dropping a lot should this pattern repeat itself.
Also it looks like an head & shoulder has been formed with both shoulders in place already.
BTC.D pattern analysis (Rising & Descending broadening wedges)Hello everyone,
Today I´ve prepared for you Bitcoin dominance (BTC.D) analysis based on patterns.
The 1st one is:
BEARISH rising wedge
The rising wedge can be one of the most difficult chart patterns to accurately recognize and trade. While it is a consolidation formation, the loss of upside momentum on each successive high gives the pattern its bearish bias.
However, the series of higher highs and higher lows keeps the trend inherently bullish.
The final break of support indicates that the forces of supply have finally won out and lower prices are likely.
There are no 100% measuring techniques to estimate the decline – other aspects of technical analysis should be employed to forecast price targets but I tried to draw it for you for easier recognition in the left top corner.
The 2nd one is:
BULLISH descending broadening wedge after a peak
A descending broadening wedge is bullish chart pattern (said to be a reversal pattern). It is usually formed by two diverging bullish lines.
There are no 100% measuring techniques to estimate the decline – other aspects of technical analysis should be employed to forecast price targets but I tried to draw it for you for easier recognition in the right bottom corner.
The price objective is given by plotting the wedge’s maximum height onto the breaking point
A descending broadening wedge is confirmed/valid if it has good oscillation between the two upward lines . The upper line is the resistance line; the lower line is the support line.
Each of these lines must have been touched at least twice to validate the pattern.
NB: a line is said to be "valid" if the price line touches the support or resistance at least 3 times.
This implies that the descending broadening wedge pattern is considered valid if the price touches the support line at least 3 times and the resistance line twice (or the support line at least twice and the resistance line 3 times).
Statistics of the descending broadening wedge after a peak
- In 79% of cases, the exit is bullish.
- In 23% of cases, a descending broadening wedge occurs in a consolidation movement.
- In 81% of cases, the pattern's price objective is achieved when the resistance line is broken.
- In 40% of cases, the price makes a pullback in support on the descending broadening wedge’s resistance line.
I personally think that we had in previous days Bitcoin dominance fake out which seems to be turning into alt ralief/btc catch up run till the end of December/ January which could drag BTC.D down to approx. 53% again.
Rest is showin in the chart.
I previously called the top of it and expected the approx. path here
This is where we are now at So I´ve decided to make a update with new prediction call and that bringed us to current TA
Hope you like this technical analysis and I wouldn´t mind if you please leave a like & comment to me as a feedback is very importan for me.
Thanks !
ChaChain
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Disclaimer:
I´m not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature, and therefore I´m unqualified to give investment recommendations. Always do your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
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