💹 Let's dive into the analysis of one of my favorite old coins. We'll update our previous analysis and check for new entry points.
📅 Weekly Updates:
Starting from Monday to Wednesday, we'll cover , Monday: Bitcoin and Dominance analysis , Tuesday: Ethereum and ETH/BTC analysis , Wednesday: Gold analysis
These are in addition to our daily analyses.
🎉 Channel Milestone 500 Followers:
Thank you all for helping this channel reach 500 followers! Our next goal is 1,000 followers. Let's keep growing together!
🔍 Previous Analysis Overview:
In our previous analysis, we focused more on long positions and faced some challenges in lower time frames. However, in the 4-hour time frame, after breaking the daily resistance at 44.49, we started a strong uptrend with a significant move.
View Chart
🕰️ Weekly Time Frame:
Trigger Point: The uptrend started after breaking the trendline and confirming the 10.83 trigger.
Volume: We observed an increase in volume throughout the move.
Resistance: After breaking the resistance at 31.31, a pullback, and moving towards 58.44, buyers' strength decreased and sellers appeared.
Current Status: After a strong rejection from the 58.44 resistance, we are resting inside this box.
If the 31.31 support is lost, we might move towards the next Fibonacci levels at 22.80 and 15.38.
📊 Daily Time Frame:
Range: We are in a large box between 31.31 and 58.44.
Trendline: After rising from the box's bottom and breaking the trendline, we got stuck at the middle of the box, indicating buyers' lack of interest and sellers' strength.
The Fixed Volume Range tool shows that the main volume is within this box, and after breaking the 31.31 support, there's almost nothing stopping us until the next support at 22.80.
💡 Personal Strategy:
My personal use of the Fixed Volume Range tool is as follows: I avoid opening positions where there's high volume shown, and I wait for a break through high volumes to ensure I have a position during that movement.
📉 Short Position Trigger:
Our trigger for short positions is clear. After breaking the 31.31 support, we can open our short positions and ride the potential trend. Confirmations of volume and the RSI support break at 35.84 are crucial. If I get these two confirmations, I'll enter the position with higher risk.
📈 Long Position Trigger:
Honestly, there's no trigger for a long position until 39.32. We'll have better coins for long positions unless this support fakes out or we see a trend change in a lower time frame while being on the support.
🛠️ Support and Resistance Levels:
Supports: 22.80, 15.38
Resistances: 39.32, 58.44
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
📅 Weekly Updates:
Starting from Monday to Wednesday, we'll cover , Monday: Bitcoin and Dominance analysis , Tuesday: Ethereum and ETH/BTC analysis , Wednesday: Gold analysis
These are in addition to our daily analyses.
🎉 Channel Milestone 500 Followers:
Thank you all for helping this channel reach 500 followers! Our next goal is 1,000 followers. Let's keep growing together!
🔍 Previous Analysis Overview:
In our previous analysis, we focused more on long positions and faced some challenges in lower time frames. However, in the 4-hour time frame, after breaking the daily resistance at 44.49, we started a strong uptrend with a significant move.
View Chart
🕰️ Weekly Time Frame:
Trigger Point: The uptrend started after breaking the trendline and confirming the 10.83 trigger.
Volume: We observed an increase in volume throughout the move.
Resistance: After breaking the resistance at 31.31, a pullback, and moving towards 58.44, buyers' strength decreased and sellers appeared.
Current Status: After a strong rejection from the 58.44 resistance, we are resting inside this box.
If the 31.31 support is lost, we might move towards the next Fibonacci levels at 22.80 and 15.38.
📊 Daily Time Frame:
Range: We are in a large box between 31.31 and 58.44.
Trendline: After rising from the box's bottom and breaking the trendline, we got stuck at the middle of the box, indicating buyers' lack of interest and sellers' strength.
The Fixed Volume Range tool shows that the main volume is within this box, and after breaking the 31.31 support, there's almost nothing stopping us until the next support at 22.80.
💡 Personal Strategy:
My personal use of the Fixed Volume Range tool is as follows: I avoid opening positions where there's high volume shown, and I wait for a break through high volumes to ensure I have a position during that movement.
📉 Short Position Trigger:
Our trigger for short positions is clear. After breaking the 31.31 support, we can open our short positions and ride the potential trend. Confirmations of volume and the RSI support break at 35.84 are crucial. If I get these two confirmations, I'll enter the position with higher risk.
📈 Long Position Trigger:
Honestly, there's no trigger for a long position until 39.32. We'll have better coins for long positions unless this support fakes out or we see a trend change in a lower time frame while being on the support.
🛠️ Support and Resistance Levels:
Supports: 22.80, 15.38
Resistances: 39.32, 58.44
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
