Monday STORM - Accumulation zone 1 partially filled around 136 - 139 sats. Price action has since been trading sideways, looking to further scale in as we drop to lower support levels. ZCASH - Accumulation zone 1 partially filled around 0.085 - 0.090 sats. Price action has since jumped to 0.0203 hitting our first target for 8%+ gain. I would wait for price action to return back to our breakout zone to further scale in/look to begin re-entering.
Hey all! Greenvember incoming? November is really the month I’ve been waiting for a while. Last year in November Bitcoin did parabolic moves and basically ”mooned”. We got Bakkt launching futures 12th of December, and at this point no one really knows how the market will react, it’s all just speculation. I am looking forward to seeing how the launch will affect the whole market, and maybe ignite a market reversal.
As I write this week’s article, Bitcoin is in the middle of a mini move here in the last hour before the close of the candle Sunday night. So it’s going to be tough to get a good handle on this weeks article as far as recommendations go. That said, earlier today I noted in Discord this bullish divergence on the one hour timeframe. So it seems like the market is finally reacting to that divergence (red lines in the chart below).
The past week saw most coins turning downwards after an initially strong start to the week. This week we are expecting to see some sideways/downward movement with the overall market continuing to be bearish. Bitcoin has been playing a huge role in the overall trend of the market so go head over to Coinbase Trader to see this weeks out look for Bitcoin.
Happy Monday, in this week’s article we’re going to cover basic indicators. Basic indicators are your bread and butter of technical analysis. Some of the most successful traders in the world rely on nothing more than a few of the indicators we’re going to cover in this article. By the end of this week’s article, you should have enough knowledge to start applying everything together into some actual trades. With that said, let’s break into the article!
Before we jump into today’s publication, let’s quickly recap the top picks that were featured in the previous installment of Altcoins Edge. ELF - Accumulation zone 1 partially filled between 5000 - 4850 sats, price action has been trading sideways within our entry range since then. Still an opportunity to accumulate and follow along with this trade. NEO - Accumulation zones 1 & 2 partially filled at 252, and 248 sats. Price action is currently trading just above 248 sats support. Slight chance we drop to accumulation zone 3 at 241 sats which would fully scale us into our intended NEO position. Stop losses around 239 sats.
Before we jump into today’s publication, let’s quickly recap the top picks that were featured in the previous installment of Altcoins Edge. STORM - Accumulation zone 1 partially filled around 136 - 139 sats. Price action has since been trading sideways, no need to take any action as of yet. ZEC - Accumulation zone 1 partially filled around 0.0185 - 0.0190 sats. Price action has since jumped to 0.0203 hitting our first target for 8%+ profit. I would wait for price action to return back to our breakout soon to either jump in or scale in further.