Cryptocurrencies

SC seen from the 1W temporary we can see how the previous candle has closed bullish above the consolidation but without testing the resistance located at 0.00000020, however, the RSI indicator shows bullish signal after the moving average of 14 made the break of the falling wedge, we can see indicated in the chart above within the zone of the RSI indicator, the trend count is very good and the current situation could favor a next much greater bullish movement.

SC seen from the temporality of 1D we can observe more closely the current movement of candles, the diagonal dark blue indicates the bullish impulse that keeps the price forming an HL, if the price forms us another HL, the bullish probabilities will increase, if the price manages to break the resistance located in the 0.00000020 it is very possible that we will reach our first target located within the price range of 0.00000025 – 0.00000029 indicated in the chart above by a light blue rectangle, our second target is located at 0.00000042, indicated in the chart by a black horizontal color, and our third target is located within the price range of 0.00000067 – 0.00000070.

In this other graph of 1D I wanted to show the bullish impulse that the RSI indicator signals us, we see that it has increased in recent weeks coming to break a diagonal resistance that I have not indicated within the RSI indicator but that can be seen with the naked eye.

In conclusion, the SC chart suggests that a larger bullish momentum is close to both the price action and the divergence shown by the RSI indicator support the above, for this to happen we need to close above the resistance at 0.00000020, otherwise the movement would lose strength and we could break down in search of the 1D demand zone located at 0.00000016, even reach the second zone of demand located at 0.00000012, therefore, I recommend to be very attentive to the action of the price in 1D in the next days, I recommend always to use stop loss in all its operations to avoid losses by invalidations in the movements.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

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