(finex) INTRA-DAY BREAKDOWN
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** PREVIOUS RELATED IDEAS ARE LINKED BELOW **
1 HOUR BREAKDOWN
– We can see that 3480$ support has held up very well on since a rejection from the 3800$ level. Since testing highs of 3800$ MA’s have been used as resistance with a MA crossover occurring on the hourly charts. Moreover, we can see that 200 resistance lies currently just above 3650$. Thus, a break above this level will indicate huge momentum but I believe this will not occur – none the less, we need to be ready for all scenarios.
– Moreover, we can see that currently on hourly , there is support at the 37 level with previous (BLACK LINE) now being a .
– We can also see that on our RSI/ROC chart that 43 LEVEL its currently being used as support and I expect a retracement to the upside to the 53 level before runs out of momentum once again.
– This all supports the range activity we presumed in our weekly breakdown for .
4 HOURLY BREAKDOWN
– Again we can see that there are support zones evident on our momentum indicators on the 4 hourly with support at 37 level for and an expected increase to at least 56 level before next real price crash.
– For our RSI/ROC , support evident at the 53 level and I expect an increase to at least the 65 level on 4 hourly charts.
– This should correlate with a test of 3650-3700$.
DAILY BREAKDOWN
– Surprisingly, the are looking a LOT more in this instance. We can see that MA’s on the daily are being used as resistance.
– We can also see that we are currently at a resistance on both and RSI/ROC.
– This tells us that we can expect intra-day activity but on the whole things are still .
– DAILY INDICATING A DROP TO 2950$ IS NECESSARY IN MEDIUM RUN.
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Published at Tue, 11 Dec 2018 04:32:58 +0000