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VIA technical analysis

October 17, 2019 Published by

VIA seen from the temporality of 1W we can see how the current candle structure is forming a rounded floor which is likely to push the price towards a much larger bullish movement, the penultimate candle managed to close above the consolidation, followed by a doji candle, the current candle is bullish, however, with little volume, the pressure of sale is maintained, we can observe it in the superior wick that has formed until the moment, the indicator RSI has formed us a double floor with bullish inclination, this shows us a bullish divergence that is easily visible in the graph of above, the weekly demand is located in the 0.00002050.

VIA seen from the temporality of 1D we can observe more closely the current movement of candles, we see how the structure is forming a rounded floor, in the RSI indicator I have pointed with an oval the area where the average in relation to the period of time between December 2018 and March 2019 made a movement similar to the one that the RSI indicator is making again in relation to the current period, If the situation repeats itself we could have a major upward movement like the one that happened previously and that I have indicated by means of a yellow circle in the RSI indicator, our first gain objective is located at 0. 00007567, if we have a strong volume input, this target can be easily reached, the second gain target is located at 0.00017044.

In conclusion, VIA maintains an excellent bullish pattern after consolidating in the weekly support located at 0.00002050, if the price maintains the bullish curvature, the probabilities of reaching the first profit target are very high, otherwise, the price could fall to the weekly demand, even fall towards the second zone of demand located at 0.00001062, I recommend to be very attentive to the action of the price in 1D and never forget to place stop loss in all your operations to avoid possible invalidations during the movement.

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

AION technical analysis

October 16, 2019 Published by

AION seen from the temporality of 1W we can see how the structure of candles has remained within a range since the month of July 2019, the major figure is that of a descending wedge, indicated in the graph above by the two diagonals red, this wedge has entered into formation since August 2018, the price is currently at a key moment to look for the break, the key support located at 0.00000841, indicated in the graph by the horizontal blue color must be recovered to ensure a next bullish movement to get the break of the resistance of the major figure, if we achieve it, we should reach our first target located in the 0.00001900 that I have marked as an area of supply, the price could continue to reach our second target located within the price range of 0.00002167 – 0.00002704, indicated in the graph by the rectangle light blue.

AION seen from the temporality of 1D we can observe more closely the current movement of candles, I have indicated through a yellow circle, the current area where the price in its retreat has managed to withstand the support of the demand in 1D located at 0.00000780, indicated through the horizontal black color, the current candle is marking a long lower wick, signal of buying pressure in that area, to close so, would be a strong signal to go looking for the reclaim of the blue horizontal and continuation with bullish momentum.

In conclusion, AION has had a long run within the descending wedge, currently the price gives a strong signal of a movement with upward inclination, within the temporality of 1D, the price has come created a series of HL that the movement continues to respect, as I mentioned above, we must recover the key support located at 0.00000841 to then look for a much larger long movement, the daily candle is closing well, however, we must be very attentive to the action of the price of the next candles in 1D to secure our position, always remember to place stop loss in all your operations to avoid possible invalidations during the movement.

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

XVG technical analysis

October 14, 2019 Published by

XVG seen from the temporality of 1W we can observe a bearish pattern within the major figure where the price has had a long run since 2018, the closing of the previous candle has managed to recover the support located at 0.00000043, if it manages to stay above that level, it is very possible that we see an upward continuation towards the diagonal resistance of the major figure indicated in the chart above by a red diagonal, our first target indicated in the chart is located within the price range of 0.00000090 – 0.0000010808 within the price range of 0.00000090 – 0.00000108.

XVG seen from the temporality of 1D we can observe more closely the current movement of candles, we see how the price has broken up the pennant bearish delimited in the chart above by the small red diagonals, after a slow sale, the price has managed to make a retest of the resistance located at 0.00000047, indicated in the graph above by the horizontal black color, so far has marked an HL with the throwback to the support of the blue horizontal in the 0.00000043, so that we can see a next upward movement we need the price to close above the black horizontal, otherwise we could have invalidation.

In conclusion, the price begins to give signal of reversal of trend, just as other currencies have been doing, XVG has fallen a huge percentage during this down season, so many traders may not be very motivated to operate this market, however, the situation could be reversed in a short time if the price remains above 0.00000043 and gets us a new HL above 0.00000047, otherwise, the price should fall towards the 1D demand zone located at 0.00000038, therefore, I recommend to be very attentive to the price action in 1D, this is a risky trade, do not forget to always place your stop loss to avoid possible invalidations during the movement.

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

LINK – Taking a Shot on a Long Trade

October 14, 2019 Published by

Yesterday I discussed Chainlink (LINK) and how $2.50 could potentially act as a support given prior price action.

Just a little trade…

Now that price touched the 10 day moving average after digesting the prior up move I have decided to take a shot and bought 300 coins at 2.56

If you look at the chart you can see we may have a little double bottom intraday as 2.45 was the low of yesterday’s candle and today so far.

I may be jumping the gun as this candle had not closed and anything can happen in the remaining hours, but with a clear exist of 2.45 it was worth risking 10 cents to make 30 or so as the high of 2.98 is my profit target.

It certainly doesn’t scream get long, but it’s a decent enough risk-reward and setup to speculate and try and pickup an easy $100.

This is just my opinion, make your own trades ?

ETN technical analysis

October 10, 2019 Published by

ETNseen from the 1W temporality we can observe how the price 1 month ago broke up the descending wedge causing an impulse of 4 bullish candles, the previous candle managed to close above the resistance located at 0.00000048, indicated in the chart above by the horizontal dark blue color, the closing has been with little volume, but the bulls have managed to mark signal continuation, the current candle is retreating in search of greater demand for the next move, so we should see a retreat into the area of demand located between the price range of 0.00000038 – 0.00000039, in this zone the price could find the necessary demand for a strong rebound of the price, the structure would be forming us a very necessary HL to determine if the price will continue rising, however, the price could also retreat to the zone of weekly demand located at 0.00000033, where the price would make us a double floor on the horizontal indicated in the graph above in black, if the price fails to hold the support and closes below that level, then we would have a new LL to the support located at 0.00000019.

ETN seen from the temporality of 1D we can observe more closely the current movement of candles, we see how the price in its retreat has formed a bearish “leg”, so we should one more as a result of that pattern, the key support level is located at 0.00000038, if we get a rebound in that zone, the price should have a strong bullish momentum that moves the price above the resistance located at 0.00000048 to achieve our profit targets, the first profit target is located at 0.00000058, while the second profit target is located at 0.00000070.

In conclusion, ETN has dropped a large percentage since the month of March this year 2019, now the price is showing trend reversal signal, we still need confirmation that the price will form an HL, this would be a great buyback signal to continue to rise, the long-term profit target is located within the price range of 0.00000108 – 0.00000115, indicated in the 1W chart by a light blue rectangle, however, if the price falls below 0.00000033, it is very possible that the price will form a new LL towards the support located at 0.00000019, therefore, I recommend to follow the price action in 1D and always use stop loss in your trades to avoid possible invalidations during the move.

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

IOTX technical analysis

October 8, 2019 Published by

IOTX seen from the temporality of 1W we can see how the price when arriving at the diagonal support of the major figure, indicated in the chart above by the red diagonal, has started to change its momentum upwards creating a bullish closing in the previous candle and a quick continuation of the movement during today, the series of candles look pretty good to continue its movement upwards, however, we also see that the current candle is finding resistance at 0.00000079 leaving a considerable wick above this level, so it is very possible that we will see a reversal in the movement and then continue in search of our profit targets, the first target is located within the price range of 0.00000114 – 0.00000142, marked on the graph within the light blue rectangle, the second target gain is located at 0.00000183, marked on the graph by the horizontal black color.

IOTX seen from the temporality of 1D we can observe more closely the current movement of candles, we see the strong vertical impulse that has had these days, this can not be very consistent so to wait for a bass candles should be the safest in the coming days, the range I have delimited in the chart above by the 2 small horizontal dark blue, the resistance marked at 0.00000079 and the support marked at 0.00000061, the price should move within those levels and then try to continue with another bullish movement that reaches our first target, in the chart I have drawn the possible trajectory that should follow the price during the journey, the RSI indicator gives us a signal of overbought after having shot to break the bull pennant formed within the indicator, this is a signal of reversal.

In conclusion, IOTX has escaped me in its initial movement, now the safest would be to wait for a new entry into the price range mentioned above, we could have the following momentum and take profits within the price range of 0.00000114 – 0.00000142, however, I recommend to be very attentive to the action of the price in 1D, if the price closes below 0.00000061 we could fall to 0.0000050, so we must be very careful to avoid invalidations.

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

BAT technical analysis

October 7, 2019 Published by

BAT seen from the temporality of 4H we can see how the previous candle has closed below the key support located at 0.00002387, the price has tried to make a pullback recovery, however, has not managed to test the zone correctly to confirm it as support, now the price could go in search of the demand zone at 4H located at 0.00002254, if you do not find enough strength to push up, increase the odds of a reversal into the next zone of demand located within the price range of 0.00002107 – 0.00002149 indicated in the chart above by a blue rectangle, in that zone of demand the price would be throwback us corresponding to the break of the major figure in 1D.

BAT seen from the temporality of 1D we can observe from a broader perspective the current movement of candles, we see how the price during its bearish movement was put into a parallel channel that was finally broken up during the closing of the weekly candle, the price after having found support at 0.00001614 achieved the necessary momentum to make the bullish movement that has achieved the recovery of the low range of the major figure located at 0.00002349, as I mentioned before, the price should make the reversal that tests the diagonal support of the parallel channel indicated in the chart by the dark blue diagonals, once the test is done correctly, we should have an upward impulse towards our first gain target located at 0.00002860 indicated in the chart by the black horizontal, our second target is located at 0.00003138, also indicated in the chart by a black horizontal.

In conclusion, the price action currently indicates a retracement, the first zone where it should find demand to follow its bullish movement is located within the price range of 0.00002107 – 0.00002149, if the price does not hold the support and confirms a much retracement May, then the price could fall to 0.00001800, even find strength in the previous support located at 0.00001614, it is still too early to determine with greater certainty the next short term move for BAT, an ABC pattern has been formed, we should have a similar retracement pattern or one of 5 waves, so I recommend to be very attentive to the action of the price in 1D, always use stop loss in your trades to avoid invalidations during the move.

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

Bitcoin Making Us Sweat a Little Bit

October 7, 2019 Published by

At this point I don’t think anyone wants to see bitcoin break the 7,600 area support. There is alot of downside potentially from there and would mean a ton of buy order got eaten up.

So after Sunday’s down move we see price floating not far from that level today and it probably makes us all sweat just a little bit.

The good news is if price can hold this level again then it becomes a rather major support in the near-term and can act as a solid bottom for a potential run higher when bitcoin is good and ready.

When that is we can only guess. The 2020 halving could provide a catalyst as price runs up into it but that is still a ways off to expect it could happen now.

MANA technical analysis

October 4, 2019 Published by

MANA seen from the temporality of 1W we can observe as in the previous LL, the price consolidated support to then make a pullback that we are currently seeing through a series of bull candles, sign of a greater bullish movement ahead, the RSI indicator shows us how the strength of the current momentum is increasing after reaching the weekly oversold zone, a strong signal for the bulls, the price has to recover the key support located at 0.00000346 and confirm it as support to continue looking for our first target which is located within the price range of 0.00000400 – 0.00000443, which should have no problem getting there if it maintains the current momentum.

MANA seen from the temporality of 1D we can observe more closely the current movement of candles, we see as before, the price confirmed support through a retest in the horizontal located at 0.00000297, followed by a bullish momentum that through a pair of HL the price is giving a sign of continuing to rise, currently the candle in 1D is finding resistance after making the break of the small upward triangle that I have indicated within the chart above in blue, the price should make a brief retreat to test the key support it needs to recover, and it is very possible that it will fall to the diagonal support indicated by the chart through the dark blue diagonal, if you make this move and find demand in that area, then it is very possible that we will see a next upward momentum towards our first target mentioned above, otherwise, if the price falls below the diagonal support and confirms, we should wait for a major setback to the area of demand located at 0.00000297, which the bulls should defend to prevent the price from falling into the next zone of demand located at 0.00000208.

In conclusion, MANA maintains a series of bull candles within the weekly temporality, which is presented as a strong buy signal, the volume should not take long to arrive, the first step has to be to regain the key support and then confirm a next upward movement towards our first target, if it manages to make that level and take it as support, our second target is located within the price range of 0.00000660 – 0.00000714, I recommend to be very attentive to the action of the price in 1D to avoid invalidations in the movement, wait for confirmation in support to secure long position.

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

CMT technical analysis

October 3, 2019 Published by

CMT seen from the temporality of 1W we can see how the structure of candles has formed a descending wedge where the price has been contracting within the figure through a slow sale as the price has approached the support of the zone of demand located at 0.00000180, the trend count is correct and the current consolidation of small candles with little volume in the support gives us signal of a possible bullish movement that seeks to break the diagonal resistance of the figure, if so, the price should go in search of the supply zone located within the price range of 0.00000519 – 0.00000589, which would be our first profit zone, our second target is located at 0.00000848.

CMT seen from the temporality of 1D we can observe more closely the current movement of candles, we see how the current structure of candles has formed a double floor, reversal signal trend, the price goes in search of the neck line located at 0.00000244, if we don’t get the break yet, the price could go back briefly to form an HL that confirms us that the next movement will make the break of the neck line and then, look for the bullish break of the major figure, within the RSI indicator we can see how the force of the movement is increasing, has managed to break a resistance signaled inside the indicator by a red diagonal.

In conclusion, CMT has reached very low levels of price, the slow sale that has been made within the descending wedge gives us a strong signal of an upcoming trend change, the support where it has consolidated for 4 candles in 1W is a key level of demand, this supported by the lower figure in 1D and the RSI indicator increases the odds of a possible bullish break, we must wait for the price to break and confirm the support of the neck line located at 0.00000244, the diagonal resistance break should be our best long entry position, however, I recommend to be very attentive to the action of the price in 1D to avoid possible invalidations during the movement.

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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