Bitcoin Analysis: Week of Aug 3 (Intro to Candles)
In last weeks post we concluded with the following statement: Today we will see if we need to re-evaluate this view going into next week. First let’s take a look at the latest weekly chat: Our charts are conflicting; the shorter daily chart is implying continued bearish pressure, as the bullish trend line was broken this week. The longer-term weakly chart on the other hand is not suggesting anyone should panic just yet. Watch for a pull back to the US$500 to US$530 zone while still keeping your eye on the target of US$750. Once one of these zones is approached we would look to re-evaluate....
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In last week’s post we concluded with the following statement: Now that the price has reached our support target of US$500-530 zone where do we stand now? Lets take a look at the weekly chart. “The odds, however, favor more downside back to the base of the triangle at US$560 and breaking below that should take us down into the US$500-530 zone where the Fibonacci’s will have a chance to create a healthy reversal.” The comment on the 61.8% Fibonacci retracement has been changed to indicate we have reached this critical support point. An additional trend line has been added that uses the....
A cryptocurrency analyst has pointed out how a rebound could be about to begin for XRP after the Tom Demark (TD) Sequential flashed a buy signal. TD Sequential Has Given A Buy Signal For XRP In a new post on X, analyst Ali Martinez has talked about a TD Sequential signal that has appeared on XRP’s 4-hour price chart. The TD Sequential refers to a technical analysis (TA) indicator that’s generally used for locating points of probable reversal in any asset’s price. The indicator involves two phases: the setup and countdown. In the first of these, it counts up candles of the....
An analyst has pointed out how Solana (SOL) has just seen a buy signal on the same indicator that earlier called for selling XRP (XRP). Solana Has Seen A Buy Signal On The TD Sequential In a new post on X, analyst Ali Martinez has discussed about a Tom Demark (TD) Sequential signal that Solana has displayed on its daily price chart. The “TD Sequential” here refers to an indicator from technical analysis (TA) that’s used for locating probable points of reversal in an asset’s price. Related Reading: Bitcoin Traders Fearful For First Time Since October: Buying Signal?....
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An analyst has pointed out how Dogecoin has just seen a short-term buy signal on the same indicator that captured the latest local top in its price. TD Sequential Has Just Formed A Buy Signal For Dogecoin In a new post on X, analyst Ali Martinez has talked about a Tom Demark (TD) Sequential signal that has appeared in the hourly price chart of Dogecoin. The TD Sequential is an indicator from technical analysis (TA) that’s used to locate potential reversal points in an asset’s price. The indicator works by counting up candles printed in the same color. These candles may or may....