A number of bullish indicators following an oversold condition (orange column) on the above 1-day chart. We have:
1) Following the oversold condition we have a Dragonfly DOJI candle indicating strong buying pressure.
2) MFI resistance is broken, can only go up from here.
3) Support on the 21-week moving average (green line) following a test by price action on the 2-day chart below.
The bearish - price action is trading below the 21-day moving average. It could very well be tested and then rejected. Why am I bullish then? The oscillators (orange column) - often following such extreme oversold conditions I'll find price action ignores resistance on the 21-day. The more conservative amongst us will wait for 21-day support!
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Dragonfly DOJI's on the 8hr charts across all high volume exchanges - easy money.
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Price action makes a healthy transition to the bullish half of the Bollinger Band.
Look out for a higher low if support on the 21-day is confirmed, this would be a strong indication of a trend reversal.
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16% increase in price action at the same time price action entered a bear market (50-day moving average crosses down 200-day with price action below the 200-day moving average).
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取消訂單
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broken market structure - not worth it - will have a look next month
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Past resistance becomes support.
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80% in 121 days - Alt season is be here.
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90% up so far and overbought but not yet a 'sell'.
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320% up so far. RSI support continues to hold despite a bearish divergence appearing.
A lot of alt-coins are showing overbought conditions at the moment.
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Now up just a little over 1000%,
Price action is currently overbought yet no sell signal. Nevertheless I'd be taking profits now at those levels for sure.
@vishweshwaran26, BSV - ask me again at the end of the month! September 24th might be an interesting date for a spike upward as MFI resistance breaks out.
However the longer term is not shouting at me to go long, not at all in fact. On the 3-day chart below you can see the ascending triangle formation has a price action breakout to the underside. Price action remains in a uptrend, however.
A break below $156 would be a break of market structure indicating a trend reversal to downside.
Upside, let's wait and see - personally I'd not trade it until the large price action resistance trend line becomes support and that looks like weeks if not months away.
vishweshwaran26
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@without_worries, I am waiting for the price to plunge. Thanks a lot for the reply.
Putrid_Shittgenstein
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I'd book profits and exit; this baby is too illiquid for a bear market: