The amount of volume traded at the lower range says a lot, if you think about it. We haven't gotten close to distributing those coins in these upper ranges. THere's a lotof profit taking that any rising price will have to move through sell pressure. On the other hand, we aren't anywhere near done with this bull run. The volume curves will actually flip by the time...
Some show it breaking down. Looks to me like it's going the other way. Pretty high Pearson's and a total channel height of right at 50%, covering over a year's time on the daily, no log.
SHIB has formed a nice cup and handle seen on multiple time frames. I took a long at 0.000023 and leave that open until I see this break one way or another. If I were playing the cup, I'd set the profit like I did above, the price plus the candle height. Don't lose your SHIB if I'm wrong. Stop-loss can be pretty quick in any case, I believe. Mine's anything...
I'm new to TA, so if any of you see something amiss about my reads or have thoughts, additions, etc. Please let me know what you think.
Here's my read for the weekend. Assuming overall crypto market pushes up at all. If the crypto market doesn't make some small gains, ZEC might drop to 150-155 range and await signal from the market or other forces rather than $163.
Update to previous TA where I short-sale to aknowledge the floor beneath me. This realization and the fact that it's been tested a few times, makes it kind of an inside straight. Good potential profit, less likely to occur in my time-frame.
I'm new to TA, so take this for what its worth. That said, any feedback on my read is appreciated. At the 4H chart, I marked the parallel channel in dashed yellow to emphasize the downard channel through March which looks to have been formed by penants that skewed downard but failed to break decisively. As that spring tightens, we're more and more likely to see...