It's been 4 months since #Bitcoin dropped 5% or more in a single hour. But as of (1am-2am UTC), we saw this streak get broken. A quick recovery will be dependent on how much worry the crowd shows, allowing whales to scoop weak-handed coins.
#Educational
OBV (On Balance Volume)
On Balance Volume is a volume indicator that uses trading volume to predict if a price will change.
The idea behind OBV is that the trading volume impacts the price and can serve as a powerful tool to decide if a trend will last or not. On top of that, OBV also offers clues as to what type of participants are trading in the market. For instance, if the volume increases and the price remains flat, it could imply that institutions or more sophisticated players are buying assets from retail traders only to then sell them back as soon as the price goes up.
Unlike for the RSI, numerical values aren’t important to generate signals with the OBV because it’s a momentum indicator. The slope and its direction provide more insight than the absolute value. Broadly speaking, when the volume on up days is outpacing the volume on down days, we can expect an asset to follow the move up eventually. The steeper the slope, the stronger the trend.
OBV (On Balance Volume)
On Balance Volume is a volume indicator that uses trading volume to predict if a price will change.
The idea behind OBV is that the trading volume impacts the price and can serve as a powerful tool to decide if a trend will last or not. On top of that, OBV also offers clues as to what type of participants are trading in the market. For instance, if the volume increases and the price remains flat, it could imply that institutions or more sophisticated players are buying assets from retail traders only to then sell them back as soon as the price goes up.
Unlike for the RSI, numerical values aren’t important to generate signals with the OBV because it’s a momentum indicator. The slope and its direction provide more insight than the absolute value. Broadly speaking, when the volume on up days is outpacing the volume on down days, we can expect an asset to follow the move up eventually. The steeper the slope, the stronger the trend.
#IMX price has started to decline after reaching the downtrend line and again we expect a drop to the support level of 0.910 $ - 0.930 $ and if the support is broken, the next price target is $0.730.
#Uniswap Labs introduced a mobile crypto wallet for iPhone users.
#GMX , After reaching its historical high, it is moving in a descending channel. If the price can break the channel, it will probably fall to the support of $59.40-60.90, otherwise it will rise to the resistance of $76.50-77.90.
ConsenSys announces public testing of ZK-Rollup network compatible with Ethereum
#Ethereum has reached the bottom of the bearish channel and the $1,570-$1,550 support. If the support is maintained, we expect the price to rise to the top of the channel, and if the support is broken, we expect the price to drop to $1460.
#CFX price was well supported after reaching the support zone and is now breaking the downtrend line. It is likely to rise to the resistance in the $0.24 price zone.
#Educational
How to draw trend line ?
A trendline is a charting tool used to determine the market's direction by connecting prices using support or resistance. A trendline can also be seen as a straight line that joins two lower highs or higher highs.
Drawing trend lines comes with a few rules
A trendline should connect a minimum of 2 swing tops or bottoms, more touches means it’s stronger.
A trendline should not cut through a candle or candles.
A trendline can only be based on closed the candle .
To draw an uptrend line, you start with a swing low on the left-hand side of the chart and connect it to a higher swing low.
To draw a downtrend line, you begin with a swing high on the Lefthand side of the chart and connect it to a lower swing high.
Trend following is a trading strategy that buys when the price is rising and sells short when the price is falling.
How to draw trend line ?
A trendline is a charting tool used to determine the market's direction by connecting prices using support or resistance. A trendline can also be seen as a straight line that joins two lower highs or higher highs.
Drawing trend lines comes with a few rules
A trendline should connect a minimum of 2 swing tops or bottoms, more touches means it’s stronger.
A trendline should not cut through a candle or candles.
A trendline can only be based on closed the candle .
To draw an uptrend line, you start with a swing low on the left-hand side of the chart and connect it to a higher swing low.
To draw a downtrend line, you begin with a swing high on the Lefthand side of the chart and connect it to a lower swing high.
Trend following is a trading strategy that buys when the price is rising and sells short when the price is falling.
#RNDR has formed a Double Top pattern and after breaking the support, as expected from the price reaction to the formation of the specified pattern, the price will probably reach $0.800 for the specified period.
#EOS moves in an ascending channel, which after reaching the ceiling of the channel, it could not pass and started to descend, probably it will continue to descend until the bottom of the channel.
#SNX is now at the top of a channel. At first, wait for it to break the dynamic support and then you can enter a short position
#Educational
Horizontal Lines
In technical analysis, a horizontal line is often drawn on a price chart to highlight areas of support or resistance.
The horizontal line is drawn by connecting similar swing lows in price to create a horizontal support line. For a horizontal resistance line, similar swing highs are connected.
The Difference Between a Horizontal Line and a Trendline
Both these terms could refer to the same thing: drawn lines on a chart. While a horizontal line is specifically horizontal, a trendline is typically angled and drawn along rising swing lows during a price uptrend or drawn along dropping swing highs during a downtrend.
A horizontal line is not an actual barrier for price. It is a technical tool which may help traders determine whether they should be more bearish or bullish.
Where a horizontal line is drawn is subjective. Not all traders may place the horizontal line at the same price.
Horizontal Lines
In technical analysis, a horizontal line is often drawn on a price chart to highlight areas of support or resistance.
The horizontal line is drawn by connecting similar swing lows in price to create a horizontal support line. For a horizontal resistance line, similar swing highs are connected.
The Difference Between a Horizontal Line and a Trendline
Both these terms could refer to the same thing: drawn lines on a chart. While a horizontal line is specifically horizontal, a trendline is typically angled and drawn along rising swing lows during a price uptrend or drawn along dropping swing highs during a downtrend.
A horizontal line is not an actual barrier for price. It is a technical tool which may help traders determine whether they should be more bearish or bullish.
Where a horizontal line is drawn is subjective. Not all traders may place the horizontal line at the same price.