$BTC UpdateI've got a good feeling about the #crypto market in the coming days.
The double top played out well, and the price is now hovering near $63,000. We’re also close to the monthly S3.
On the 4H timeframe, there’s a clear convergence (4x magnified). If a reversal is going to happen, it should be from this price range. If this convergence plays out, we could see a quick move back to $67,000, and possibly $69,500.
—
🔴 We can't stay here too long; we need to break back above $65,000 or risk another drop of 6-15%, potentially down to $53,000.
Oscillators
#Oil_Crude Elliott wave analysisPrice seems to have finished a 5-wave bullish impulsive move and is now getting ready for a bearish correction.
Price failing to create a new high while making a new low is our signal that the bearish move has started.
Bearish confirmations:
Bearish divergence in the 1H time frame. 4H RSX at the oversold (OS) area.
Momentum oscillator showing bearish action.
Completion of the fifth wave of the fifth, from likely wave A.
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[LONG] Blue means go (again) Tokenfi's TOKEN
### RSI Analysis on TOKEN from Tokenfi
#### Overview
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. It oscillates between 0 and 100 and is primarily used to identify overbought or oversold conditions in a market. Generally, an RSI below 30 is considered oversold, and an RSI above 70 is considered overbought.
#### Current RSI Reading
As of the latest analysis, the daily RSI for TOKEN from Tokenfi is reading at 11.25. This extremely low RSI value suggests that TOKEN is deeply oversold.
#### Historical Performance and Patterns
Historically, TOKEN has shown a tendency to rebound strongly from oversold conditions as it makes its way into overbought territory, often indicated by the PMAR (Price Move Average Range) or PMARP (Price Move Average Range Percentage) metrics. Let's delve into what this could mean for the current market situation.
#### Analysis
1. **RSI at 11.25**: This is an exceptionally low reading, significantly below the traditional oversold threshold of 30. It indicates that TOKEN has been aggressively sold off, potentially due to market overreaction or broader market downturns.
2. **Historical Rebounds**: Observing past performance, TOKEN has demonstrated a pattern of substantial price increases following periods of being oversold. These rebounds often propel the RSI from the oversold territory into the overbought range (typically above 70).
3. **Potential for a Pump**: Given the current RSI of 11.25, there is a strong potential for a significant upward price movement. Historical data supports the notion that TOKEN often experiences sharp increases in buying pressure once the RSI reaches such low levels.
4. **PMAR / PMARP Indicators**: As TOKEN begins to recover, monitoring the PMAR and PMARP indicators will be crucial. These indicators can provide additional confirmation of the strength and sustainability of the upward movement. Typically, as TOKEN approaches these overbought territories, further analysis using these metrics can help in decision-making for profit-taking or continuing to hold.
#### Conclusion
The daily RSI reading of 11.25 for TOKEN from Tokenfi suggests that the coin is currently in a deeply oversold state. Based on historical patterns, this condition often precedes a significant price rally. Traders and investors should keep a close eye on the RSI and PMAR / PMARP indicators as TOKEN has a high likelihood of moving from its current oversold condition towards the overbought territory, potentially offering substantial gains.
#### Recommendations
- **Entry Point**: Given the RSI is at an extreme low, this could be an opportune entry point for those looking to capitalize on a potential rebound.
- **Monitoring**: Regularly monitor the RSI and PMAR / PMARP metrics to gauge the strength of the recovery and identify optimal exit points as TOKEN approaches overbought conditions.
- **Risk Management**: As always, employ proper risk management strategies and consider setting stop-loss orders to protect against further downside risks.
By staying informed and vigilant, traders can potentially take advantage of the oversold conditions in TOKEN and position themselves for gains as the market corrects itself.
TOKEN, the revolutionary cryptocurrency from TokenFi, the creators of FLOKI, has been making waves in the market with its unparalleled success. By providing a simple, all-in-one platform for creating tokens and tokenizing Real World Assets (RWAs) without requiring any coding knowledge, TOKEN has democratized access to the lucrative tokenization and RWA market, projected to reach $16 trillion by 2030.
Unmatched ROI and Constant Growth
TOKEN's innovative approach has resulted in consistent large ROI, making it an attractive investment opportunity for cryptocurrency enthusiasts. By allowing users to launch their own ERC20 (or BEP20) compliant tokens on multiple popular crypto chains, including +3 EVM compatible blockchains, TOKEN has opened up new avenues for token creation and RWA tokenization.
Comprehensive Features and Tokenomics
TOKEN's Token Launcher offers a range of features and tokenomics to customize your token, including:
1. **Treasury Fee**: Collect and distribute fees to the project's treasury wallet.
2. **Burn Fee**: Make your token deflationary by burning tokens on transactions.
3. **Reflection**: Automatically redistribute fees to all token holders.
4. **Buyback Liquidity**: Ensure long-term price stability and value growth.
5. **Liquidity Setup**: Create a liquidity pool on major decentralized exchanges.
Generative AI for NFTs
TOKEN also offers the power of Generative AI for NFT launches, enabling users to create high-quality artwork quickly and easily. This cutting-edge technology has streamlined the NFT creation process, making it more accessible and efficient.
TOKEN's unprecedented success is a testament to its innovative approach to token creation and RWA tokenization. With its user-friendly interface, comprehensive features, and impressive ROI, TOKEN is an attractive investment opportunity for those looking to tap into the growing tokenization and RWA market.
BTCUSDT POSSIBLE 1H MINOR PULLBACK UPBTCUSDT price is due for a minor pullback up and liquidity grab. MFI is pointing upward and STO(21,5,5,)crossed above the 20 level and an outside bar on Jun 21st @ 20 (UTC +3) is formed and the current candle broke it high ===> momentum is up
Overall trend is still down LL & LH and this idea is for the minor pullback up trade and considered a risky trade so use a tight stoploss is you decide to enter countertrend.
Invalid on chart
Good LUck
Band Protocol (BAND) - Bullish divergence** Trading opportunity **
On the above 8-day chart price action has corrected 95% since April 2021. A number of reasons now exist to be long, including:
1) Price action and RSI resistance breakouts.
2) Regular bullish divergence. Seven Oscillators print positive divergence with price action over the last 3 to 4 months.
3) Support and resistance, price is on strong historical support, look left.
Is it possible price action continues to correct? Yes.
Is it probable? No.
Ww
Type: trade
Risk: <= 6%
Timeframe: Act now
Return: 50x
ASX:OFX – A Rare Gem with Perfect Piotroski Score and Breakout PFundamentals :
OFX Group, listed on the ASX under the ticker OFX, presents a compelling investment opportunity this week. The company boasts a perfect Piotroski F-Score of 9, an exceptionally rare achievement that underscores its financial strength and operational efficiency. Currently trading at its fair value, OFX has turned profitable over the last 12 months and is poised for continued profitability this year. ASX:OFX ASX:OFX
Technicals :
From a technical standpoint, OFX has achieved a significant 52-week breakout, further enhancing its investment appeal. The stock has formed a rounding bottom pattern, a classic technical signal indicating the potential for a strong upward movement. Analysts project a potential upside of 30%, making this a promising candidate for growth.
A potential Setup:
• Entry: Current Market Price
• Stop Loss: $2.00
• Potential Upside: $2.90F
#GBPAUD A long position would be initiated if the price could break the falling wedge pattern to the upside.
A short position would be considered if the price fails to break above the bearish channel's lower boundary and creates a lower low.
The trading scenario with the line arrow has a higher possibility of occurring.
Confirmations for the buying scenario:
Bullish divergence in the 1H time frame. 4H RSX at the oversold (OS) area.
Price testing an important daily support.
This bearish breakout of the channel could be considered an overexertion with respect to the price level.
If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Why I Think USDCAD Will Sell...Technical Analysis Hey Rich Friends,
Happy Tuesday. I wanted to share my technical analysis on why I think USDCAD will sell. Remember to cross-check the indicators you have on your chart and check the news.
- The candes have already rejected a previous supply zone
- The 10 EMA (purple) has crossed above the 3 EMA (Blue) and this is a strong sell confirmation for me
- The stochastic is facing down, the slow line (orange) is above the fast line (blue) and both lines are below 50
I would set my sell limits in the red-shaded area and use the green-shaded area for my TPs. Stop loss should be set above a previous high.
Great luck if you decide to take this trade.
Peace and Profits,
Cha
Will MANTRA (OM) now print 80% correction?On the above 5 day chart price action has rocketed up 6000% since the strong bullish divergence of September 2023. A number of reasons now exist to be bearish, including:
1) Failed price action and RSI support.
2) Regular bearish divergence. Lots of it. 9 oscillators print negatively with price action.
3) A 80% correction is forecast. Can you tell why?
Is it possible price action continues up? Sure
Is it probable? no.
Ww
Type: trade, short
Risk: you decide
Short entry: From 76 cents
Return: 80%
Ethereum Name Service (ENS) to $90On the above 2-day chart price action has corrected over 80% since late 2021. A number of reasons now exist to be bullish, including:
1) The ‘incredible buy’ signal prints.
2) Regular bullish divergence between price action and RSI.
3) Hidden bullish divergence between price action higher low and Stochastic RSI lower low. This is excellent to see follow point (1). Not only that but the higher low printed on the golden ratio. Safe as houses now.
4) The reversal candles indiate sellers are exhausted. For those of you that follow me, you’ll know what I mean by this.
5) On the 4-day ENS / BTC pair (below) the buy signal + bullish divergence is visible. Fantastic.
The target is derived the falling wedge extension.
Is it possible price action falls further? Sure.
Is it probable? No.
Good luck!
Ww
4-day BTC pair
Navigating NEAR: Strategic Moves in a Bearish Market🔍 Let's dive into the NEAR project. NEAR Protocol is designed to be a high-performance, scalable, and user-friendly blockchain platform. It aims to empower developers and users by offering a decentralized, developer-friendly environment. This platform is well-regarded for its ease of use and scalability, making it a strong contender in the blockchain space.
📉 As observed on the chart, NEAR has experienced a sharp decline and recently broke through the significant support level at 5.163. This decline was marked by a substantial increase in volume, suggesting a strong bearish momentum.
⚠️ The RSI is currently at 30.44, indicating that NEAR is in the oversold territory. This suggests that while a short-term bounce is possible, the overall bearish trend remains dominant. The red candle with high volume might indicate a sell-off.
🔻 For a short position, the next critical level to watch is 4.5. If the price breaks below this support level with increasing sell volume, it would confirm the continuation of the bearish trend. A short position could be initiated at this point, with a stop-loss order placed above the recent high around 5.163 to manage risk.
📉 The target for the short position would be the next major support level around 2.733. Monitoring volume is crucial; if sell volume continues to rise, it reinforces the bearish outlook.
📈 A long position should be considered only after the market shows signs of forming a new structure. Given the current bearish trend, it's prudent to wait for a clear reversal signal. A potential long entry could be considered if NEAR breaks above the key resistance level at 8.507 on the daily timeframe, confirmed by increasing buy volume.
🛠️ Patience is key here. Wait for the price to build a solid market structure and break above the mentioned resistance before considering a long position. Setting a stop-loss order below the recent low would be a prudent risk management strategy.
📝 In conclusion, NEAR is currently exhibiting strong bearish signals. For short positions, wait for a break below 4.5 with high sell volume. For long positions, patience is essential until a clear reversal and market structure form, with a potential entry on a break above 8.507. Always monitor RSI and volume indicators closely to confirm momentum shifts and manage risk appropriately in volatile market conditions.
🧠💼 Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2.
🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
The most Bullish Bitcoin signal since 2017 and 2012On the above weekly chart of Bitcoin price action a signal not seen since March 2017 and previously November 2012 has printed. No one on the social media circles is talking about. You heard it here first, remember that ;-)
What is it?
Weekly hidden bullish divergence.
It is the same signal that allowed us to long the S&P 500 from 3750 and the Nasdaq 100 from 11k while the internet was calling for Armageddon. (Both ideas below).
Think of a regular bullish divergence as an oil tanker. They confirm and price action reverses trend providing a clean pivot in the market. Now think of the hidden bullish divergence as a speedboat. They come out of nowhere, completely unexpected by the market catching everyone off guard.
Only two previous hidden bullish divergencies have printed on the weekly chart in the past.
March 2017, 1900% rally followed
and November 2012, 10000% rally followed
Some of you may be familiar with the deterministic forecast from Steve of CCU and notice the ratio between the returns of the first two bull markets as 5.3. Thus leading us to determine the next market top is at $75k after a 360% rally. However that is not going to happen because of changes to the M2 supply as I’ve discussed elsewhere. The theory does not account for those changes, and as result invalidates an otherwise solid forecast.
The market top is further up, have revealed this target elsewhere!
Ww
S&P 500 to 6k from 3750
Nasdaq 100 long from 11k
RSI Indicator LIES! Untold Truth About RSI!
The Relative Strength Index (RSI) is a classic technical indicator that is applied to identify the overbought and oversold states of the market.
While the RSI looks simple to use, there is one important element in it that many traders forget about: it's a lagging indicator.
This means it reacts to past price movements rather than predicting future ones. This inherent lag can sometimes mislead traders, particularly when the markets are volatile or trade in a strong bullish/bearish trend.
In this article, we will discuss the situations when RSI indicator will lie to you. We will go through the instances when the indicator should not be relied and not used on, and I will explain to you the best strategy to apply RSI.
Relative Strength Index analyzes the price movements over a specific time period and displays a score between 0 and 100.
Generally, an RSI above 70 suggests an overbought condition, while an RSI below 30 suggests an oversold condition.
By itself, the overbought and overbought conditions give poor signals, simply because the market may remain in these conditions for a substantial period of time.
Take a look at a price action on GBPCHF. After the indicator showed the oversold condition, the pair dropped 150 pips lower before the reversal initiated.
So as an extra confirmation , traders prefer to look for RSI divergence - the situation when the price action and indicator move in the opposite direction.
Above is the example of RSI divergence: Crude Oil formed a sequence of higher highs, while the indicator formed a higher high with a consequent lower high. That confirmed the overbought state of the market, and a bearish reversal followed.
However, only few knows that even a divergence will provide accurate signals only in some particular instances.
When you identified RSI divergence, make sure that it happened after a test of an important key level.
Historical structures increase the probability that the RSI divergence will accurately indicate the reversal.
Above is the example how RSI divergence gave a false signal on USDCAD.
However, the divergence that followed after a test of a key level, gave a strong bearish signal.
There are much better situations when RSI can be applied, but we will discuss later on, for now, the main conclusion is that
RSI Divergence beyond key levels most of the time will provide low accuracy signals.
But there is one particular case, when RSI divergence will give the worst, the most terrible signal.
In very rare situations, the market may trade in a strong bullish trend, in the uncharted territory, where there are no historical price levels.
In such cases, RSI bullish divergence will constantly lie , making retail traders short constantly and lose their money.
Here is what happens with Gold on a daily.
The market is trading in the uncharted territory, updated the All-Time Highs daily.
Even though there is a clear overbought state and a divergence,
the market keeps growing.
Only few knows, however, that even though RSI is considered to be a reversal, counter trend indicator, it can be applied for trend following trading.
On a daily time frame, after the price sets a new high, wait for a pullback to a key horizontal support.
Your bullish signal, will be a bearish divergence on an hourly time frame.
Here is how the price retested a support based on a previous ATH on Gold. After it approached a broken structure, we see a confirmed bearish divergence.
That gives a perfect trend-following signal to buy the market.
A strong bullish rally followed then.
RSI indicator is a very powerful tool, that many traders apply incorrectly.
When the market is trading in a strong trend, this indicator can be perfectly applied for following the trend, not going against that.
I hope that the cases that I described will help you not lose money, trading with Relative Strength Index.
❤️Please, support my work with like, thank you!❤️
EURUSD:: IntradayBy taking a deeper look at Daily chart we could easily see a bearish move!
Latest reaction was to top of the channel an we are going to reach to bottom of the channel. However, We see the RSI is forming a trend line which seems hard to be broken down. I think we could see a reversal to MA of RSI. So we might have one or two range days. Therefore we are both ready for Bearish and range days.
By taking a look to 1h chart we could see that a great zone to short the pair is available!
However by breaking the 1.0770 we could consider the trend bullish.
What is obvious in the main chart is that today Fibonacci R1 is in coincide with yesterday Pivot and these two are perfectly in our zone!
I'm waiting to sell from there! the channel in 15m chart could be used as liquidity hunt! These are important levels of today you can search for more reasons or places to short the pair
Circuits of Value (COVAL) - OversoldOn the above 1-day chart price action has corrected almost 90% since the beginning of the year. Now is an excellent moment to be long. Why?
1) A buy signal prints.
2) Price action and RSI breaks out from resistance.
3) The BTC pair matches points 1 & 2. (Chart below).
4) Top 10 Holders control 25.06% of supply on a $50m market cap! This is fantastic. I don’t know of another low market cap that has such fragmented circulation. This is a very important point. Most $50m to $100m market cap token struggle to drop below 95% in the top 10 circulating wallets. At $2.7b market cap tokens like Sandbox has 83% in the top 10. Axie Infinity has 98% of circulation in the top 10! XRP... don't get me started.
Is it possible price action falls further? For sure.
Is it probable? 5% to be technical.
Good luck!
WW
Type: Trade
Risk: <=6% of portfolio
Timeframe: 1-3 months
Return: 500% minimum
12-hr BTC pair
A 500% move for Weight Watchers in the weeks ahead?Penny stocks are excellent fun during market volatility, they move as fast as crypto charts. Thusly chart patterns reveal themselves with pace.
On the above 2 day chart price action has corrected 90% since October and even more so since Oprah Winfrey decided it was time to exit. Now is an excellent long trade. Why?
1) Price action and RSI and MFI resistance breakouts.
2) High positive divergence. Price action prints lower lows with each successful higher low in RSI and MFI. 7 oscillators print positive divergence. This is equal to the bearish divergence print from last October. The divergence indicator is powerful once the correct settings are used.
3) The falling wedge/pennant breakout. The forecast for this trade is almost 500% as measured from the yellow arrows. If you’re interested in Technical Analysis, this is how you measure such a breakout.
4) Zero stock splits!
5) Short interest is unbelievable. Who holds a short contract after a 90% correction? Funds do, that’s who.
Short Interest Float 19.49 %
Off-Exchange Short Volume Ratio 62.05 %
source: fintel.io
Gamestop had a similar short interest size before it mooned. Don’t take my word for it, look it up.
Is it possible price action corrects further? Sure.
Is it probable? No.
Ww
Type: Trade
Risk: <=1%
Timeframe: You decide
Return: 400-500%
Market Analysis: RNDr Coin Deep Dive🔍 let's delve into the RNDR project. RNDR, short for Render Token, is a project aimed at decentralizing GPU-based rendering solutions. It leverages the power of blockchain technology to connect users who need rendering work done with GPU owners who have spare processing power. This innovative approach aims to create a more efficient and scalable rendering ecosystem.
📉 As seen on the chart, RNDR has experienced a sharp decline and is approaching the support level at 6.999. This support is crucial as it is marked by a primary support line in blue, which holds significant importance for the price action.
⚠️ The RSI is currently at 29.06, which is in the oversold territory. This suggests potential for a short-term bounce, but the overall bearish trend remains strong. The sell volume has been increasing, indicating that the bearish momentum is still intact.
🔻 For a short position, consider entering if the price breaks below the key support level at 6.999. This would confirm the continuation of the bearish trend. The increasing sell volume supports the potential for further declines. It's recommended to set a stop-loss order above the recent high around 7.141 to manage risk.
📉 The target for the short position would be the next support level at 6.237. Monitoring the volume is crucial; if sell volume continues to rise, it strengthens the bearish outlook.
📈 A long position might be considered if the price shows signs of a reversal from the oversold RSI condition. If RNDR bounces off the support at 6.999 and breaks above the descending trendline, confirmed by a break above the trigger level at around 7.300, it could indicate the start of a bullish reversal.
🛠️ Wait for the price to break above 7.300 with increased buy volume before entering a long position. The next target for a long position would be the resistance level at 8.397. It's important to set a stop-loss order below the recent low around 6.870 to manage risk.
📝 In conclusion, RNDR is exhibiting strong bearish signals. For short positions, wait for a break below 6.999 with high sell volume. For long positions, look for a bounce off this support and a break above the trendline trigger at 7.300 with increased buy volume. Always monitor RSI and volume indicators closely to confirm momentum shifts. Manage risk appropriately, especially in such volatile market conditions.
Market Analysis:ACH Coin Breakdown🔍 Let's dive into today's analysis. The market shows a bearish momentum, and the coin we are analyzing today has the potential for a sharp drop in the 4-hour timeframe.
Bitcoin Analysis
📉 Starting with Bitcoin in the 1-hour timeframe, the support level discussed yesterday has been broken. The price has now reached the trigger at 65197 and may start correcting and resting.
📉 If this trigger is broken, we can move towards the 64429 support, which could be the next target.
📈 Breaking 25.23 in the RSI could bring even more momentum into the market, potentially targeting levels like 63356.
⚠️ A crucial point to note is the significantly increasing selling volume, indicating the strength of the downward trend.
🔻 Overall, I consider Bitcoin's downtrend more likely than an uptrend and will be looking for short positions in the market today.
ACH Coin Analysis
🔍 Now, let's look at the ACH project. I haven't researched it extensively, but I know it's a bridge for converting fiat currencies to crypto. If you'd like a comprehensive analysis of this project, let me know in the comments, and I'll do that for you.
ACH Coin Chart Analysis
📉 As seen on the chart, ACH has experienced a very sharp decline and is moving towards the support at 0.2168. This support is significant as it aligns with the 0.786 Fibonacci level of the 1-day timeframe wave and the 1 fibo extension point, making this area even stronger.
⚠️ However, never underestimate the power of momentum. If the RSI stabilizes below 24.29, the bearish momentum will increase, and we might see lower prices like 0.02034. Therefore, despite the significant drop without a correction, I recommend opening a position with low risk and small volume if the RSI breaks 24.29.
📉 The volume of ACH is also increasing, indicating the strength of the bearish momentum.
Daily Timeframe Quick Check
📅 Lastly, let's quickly check the daily timeframe. As shown, the price is in the 0.707 to 0.786 Fibonacci range. If this range breaks to the downside, the price could even correct to the 0.01761 area.
📝 In conclusion, both Bitcoin and ACH coin are exhibiting strong bearish signals. Bitcoin's support levels and RSI indicators suggest potential further declines, while ACH coin's sharp drop and increasing volume indicate a strong bearish momentum. Caution is advised, and for those looking to open positions, it's crucial to monitor RSI levels and volume indicators closely. Always manage risk appropriately, especially in volatile markets like these.
🧠💼 Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2.
🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.