Near term group of TF's (1d, 2d, 3d & 4d).
Daily - The Green MA is higher than the White Energy which is a good sign. The White Energy has fallen bellow 50 indicating downward pressure, however if we look at the 2d the Green MA and White Energy are close and the Green MA came up strong with the Energy. The Red RSI has closed above 56 indicating that we should see upward pressure until the White Energy approaches 50. In the 3d the Red RSI has crossed above 56 - we need to see it close above 56.
Again in the 4d the Green has gone up strong with the Energy and the Red RSI has crossed above 50. The Blue LSMA has crossed above 50 and for the first time since the end of July we can see the Bollinger Bands begin to expand.
This all shows some good potential signs but does not yet confirm a reversal to upward pressure.
So what clues can infer from the short term TF's (90m, 3h, 6h & 12h)?
In all this group of TF's the Green MA is higher than the White Energy which is a good sign, however we are for this group of TF's experiencing downward pressure as in all but the 12h the White Energy is below 50.
To see a move to upward pressure we want to see the White Energy in the 90m close above 50 before the Red RSI in the 3h crosses below 50. If this happens, we then concentrate on the White Energy in the 3h to see if it can close above 50 before the Red RSI in the 90m crosses below 50 - these events indicate upward pressure which we would want to see cascade into the higher timeframes.
Judging by what I can see with the Red RSI and the Bollinger Bands in the near term TF's we can see some potential but this has yet to crystallise into a clear signal.
We have to consider that XTZ is under valued at the moment, however BTC has captured the limelight. In these circumstances one must wait for a clear signal before safely opening a long position.
This Analysis should be considered neutral until any clear signals are confirmed.
Please remember I never provide financial advice and only ever express opinions based on what I see in the charts.
None of my analyses represent a preference on my part in terms of potential of one coin against another.
Trade safe
aBL
Short Term
Daily - The Green MA is higher than the White Energy which is a good sign. The White Energy has fallen bellow 50 indicating downward pressure, however if we look at the 2d the Green MA and White Energy are close and the Green MA came up strong with the Energy. The Red RSI has closed above 56 indicating that we should see upward pressure until the White Energy approaches 50. In the 3d the Red RSI has crossed above 56 - we need to see it close above 56.
Again in the 4d the Green has gone up strong with the Energy and the Red RSI has crossed above 50. The Blue LSMA has crossed above 50 and for the first time since the end of July we can see the Bollinger Bands begin to expand.
This all shows some good potential signs but does not yet confirm a reversal to upward pressure.
So what clues can infer from the short term TF's (90m, 3h, 6h & 12h)?
In all this group of TF's the Green MA is higher than the White Energy which is a good sign, however we are for this group of TF's experiencing downward pressure as in all but the 12h the White Energy is below 50.
To see a move to upward pressure we want to see the White Energy in the 90m close above 50 before the Red RSI in the 3h crosses below 50. If this happens, we then concentrate on the White Energy in the 3h to see if it can close above 50 before the Red RSI in the 90m crosses below 50 - these events indicate upward pressure which we would want to see cascade into the higher timeframes.
Judging by what I can see with the Red RSI and the Bollinger Bands in the near term TF's we can see some potential but this has yet to crystallise into a clear signal.
We have to consider that XTZ is under valued at the moment, however BTC has captured the limelight. In these circumstances one must wait for a clear signal before safely opening a long position.
This Analysis should be considered neutral until any clear signals are confirmed.
Please remember I never provide financial advice and only ever express opinions based on what I see in the charts.
None of my analyses represent a preference on my part in terms of potential of one coin against another.
Trade safe
aBL
Short Term
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Trade safe
aBL