kaziranga safari24

Hey guys, Bitcoin has been struggling for a while now, but there is some light in the tunnel right now. Here is the daily chart:

See my work over at Steemit: https://steemit.com/@freeforever

Comment: Bitcoin rose 5% today and we made a higher high and a higher low. In addition to that we also closed at the daily high and we crossed an important trendline. All these things are positive for the short term.

BUT, will we go down anyways? Im not so sure anymore, as a trader you have to adapt to the environment but what we want here is higher volume. Todays volume was lower than yesterday (Tuesday) so that was the only negative thing that happened today. We want the volume to pick up for the next couple of days in order to sustain this potential directional change.

The next goal here will be to have a daily close above 12800.

Happy investing!

Monero barely moved during the week in terms of the closing price, but during the week we managed to get a higher high and a higher low. That is a bullish sign. Here is the weekly chart:

See my work over at Steemit: https://steemit.com/@freeforever

Comment: As you can see from the chart, we are inside a pennant formation and we could potentially stay inside of this formation for another two weeks. That is not the most likely scenario but if we want to continue on a bullish trajectory, we need a weekly close above the upper trendline at 440 or higher.

Overall, Im still bullish here and I want to end this analysis with a look at the daily chart:

Comment: Here we can see that we are still above the bollinger band median and as long as we are on that side, I will continue to be bullish.

Happy investing!

Bitcoin closed 7% to the downside today. Here is the daily chart:

See my work over at Steemit: https://steemit.com/@freeforever

Comment: We formed a neutral or slightly negative candlestick for the day, but we managed to close above the bollinger band median.

In addition to this we also have a supporting trendline that we need to hold in order to charge higher to the upside from here.

Overall, we retraced about 60% of this latest move to the upside. We went from 12K to 17k and then back to 14k earlier today. That is not an uncommon move, but a little bit further down than what I expected.

Anyways, that is the latest on Bitcoin, and remember that it is the closing price that matters, it could be volatile during the day, but watch closely where we will close the day.

Happy trading!

Bitcoin looked very good during most of the day, but it did fall back a bit during the last hours and basically ended up unchanged or just barely in the green. Here is the daily chart:

See my work over at Steemit: https://steemit.com/@freeforever

Comment: The good news today is that we made a higher high and a higher low compared to the previous day. The negative part is that the volume decreased and that we couldnt close near the daily high.

One other good thing is that the stochastics is now rising again but we could still head south again and if that were the case, I would say that the first support level is at 8500.

Now, to the upside we are looking at first 12600 and then 13200. Those are the nearest resistance levels.

Finally, I am a little bit more bullish here than bearish, but the bulls need to step up here and follow through here with a good day on Friday.

Happy trading!

Monday was looking fine all day, and Bitcoin was up 5% at most but then all of a sudden it dropped during the last hour of trading. This could be negative, but lets have a look at the daily chart here:

See my work over at Steemit: https://steemit.com/@freeforever

Comment: As you can see, we formed a hanging man today, nothing extraordinary, but if we will have a daily close below the supporting trendline, that would be negative and that level is at 13300 or so. Now, lets have a look at the hourly chart as well:

Comment: Here we can see that Bitcoin started to fall 2 hours ago and the volume picked up as well. It has continued into Tuesday, but it has also recovered a bit so we dont know yet how this will unfold.

But if you watch the video, I am showing you that Bitcoin today reached 20 on the Stochastics for the first time since September. That is extraordinary. Potentially this could be good and mean that we would get a solid foundation, but the worst case scenario could be that we could get a close below the important trendline and break out to the downside.

That is the latest on Bitcoin, lets hope for the best and prepare for the worst.

Cardano was basically unchanged against Bitcoin and it also did form a nice looking hammer for the day. Here is the daily chart:

See my work over at Steemit: https://steemit.com/@freeforever

Comment: Now, we also closed above both the bollinger band median (red line) and the 20 day moving average (blue line). However, we are still below the descending trendline as you can see in the chart. But, if you are an investor of Cardano, this could be a good time to accumulate some more.

Im not saying that this is a trade setup since we havent crossed the trendline but I am just throwing it out there as an idea.

Happy investing!

I just had a look at Salt and I do like what I see here. We have formed a double hammer and slightly closed above one trendline. Here is the daily chart:

See my work over at Steemit: https://steemit.com/@freeforever

Comment: We can also see that we have almost touched 20 on the stochastics and that is another positive sign. Now, we do have the upper trendline as our next resistance level and we would like to have a daily close above that one at 80000 satoshi. The next target would be the bollinger band median at 85000 satoshi.

This could be a good trade setup, but it could obviously fail, so you always need an exit plan and that would be to get out below todays low at around 64000 satoshi.

As always, we must watch what is going on with Bitcoin since the correlation is super strong and I will do a Bitcoin analysis in just a moment.

Finally, I do own Salt for the long term and this is definately a good time to accumulate some more, not just a regular trade.

Happy trading/investing!