SALTBTC

SALTBTC

Today being the 25th day of consolidation inside the symmetrical triangle, breakout calls is coming very close and the consolidation is gradually coming to an end. The use of symmetical triangle,williams alligator, divergence, volume and the stochastic RSI is used to determine the move of the price.

With the use of willams alligator, which uses 3 metrics THE LIPS (GREEN), THE TEETH(RED) and THE JAW(BLUE).

The current move of theses three EMAs is really obvious , the LIPS(green) is the fastest EMA which is slowly crossing the TEETH(RED) and might likely go further to cross the third one the JAW(BLUE) but currently a reversal in price is turning the move upward,indicating that the bulls are strong. If the crossing happens is called THE ALLIGATOR IS SLEEPING signalling a bearish move to hold up at the next strong support level and calls for little or more consolidation. AS SHOW BELOW

  DIVERGENCE SPOTTED

A BULLISH HIDDEN DIVERGENCE spotted on the 4hours time frame, which is when the price is making a HIGHER-LOW and the oscilator is making a LOWER-LOW. This gives a signal that strenght is building up and the down trend is gradually coming to an end.

AS SHOWN BELOW

 And lastly THE SYMMETRICAL TRIANGLE.

With the same set up show on the BTCUSD CHART.. As mentioned eariler, as the triangle is almost completed a major breakout expected which will likely throwback to retest the resistance level. The stochastic RSI is fully oversold more signal that the bearish more is really coming to an end. Always the extension of 1.414 and 1.272 are always the important targets.

Technicals suggests that, a buy signal will be given only when price breakout of the triangle and closes outside , then a majot retest of the triangle should be expected and later to meet the 2 targets mentioned above.

 

Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.

$COV HODL

 

 

 

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