Deviantor_Wayne

Deviantor_Wayne

Currently, the price of the XRP has reached the descending trend line from higher timeframes, which is identified by the highs of April 2021 and July 2023. Additionally, this trend line serves as the upper boundary of a symmetrical triangle. A similar symmetrical triangle pattern has also formed on timeframes from 1D and below, and the price of the asset has...

Deviantor_Wayne Updated 

Considering the prevailing bullish sentiment in the market and the pattern observed on other cryptocurrencies throughout the crypto sphere that have broken out of a prolonged accumulation phase, it can be expected that DCR will eventually follow the general trend and repeat the pattern that we have already seen on many other coins. Decred has been facing...

Deviantor_Wayne

The VANRY/USD pair is currently in play. We are observing an exit from a two-year accumulation zone. In the medium term perspective, growth up to 0.5 and higher can be expected. Levels 0.15-0.16 and 0.3 can act as resistance zones and/or intermediate targets.

Deviantor_Wayne

We expect bullish move on KSM/USDT pair with targets up to $32.49 possible trading plan: entry 22.45 stop 19.43 tp1 26.09 tp2 28.28 tp3 32.49 Some profit may be taken also on $24.12 and $27.4 levels. Risk management: main idea is risking nothing more than 1.5% per trade, thus position size will be calculated using the formula: (Account Size *...

Deviantor_Wayne

The asset is forming a pattern very similar to the distribution scheme. If the resistance level holds, we can expect a dump to the support at $23. Targets - $25.5/27.5

Deviantor_Wayne

It looks like the link can't get out of the range, so it's pertinent to expect for a movement to the lower bound of this range - $6,76

Deviantor_Wayne

It looks like AAVE wants to pull back up a bit to compensate for the imbalance. The targets of such a movement can be defined as $103 and $106.

Deviantor_Wayne

There can be expected an upward movement with targets near the resistance levels at $48 or even higher.

Deviantor_Wayne

Support from the higher timeframe at the level of $1725 has successfully resisted. A series of higher-highs and higher-lows formed. ETH broke the resistance around $1875-1915 and reached a sloping trend line from where the price pulled back. This pullback could be limited by the support at $1913. In case of a successful continuation of the upward movement - the...

Deviantor_Wayne

This support and resistance structure forms the framework within which our trading timeframe price action will move. A breakout of the structural framework support or resistance will lead to price movement in the next area of the framework.

Deviantor_Wayne

How far back in time should we go to find Support and Resistance levels? Realize though, the further back you have to go, the more time has elapsed since price was last there. As Support or Resistance is a result of trader decisions and actions, more elapsed time usually means it will have less influence.

Deviantor_Wayne

The intent of our higher timeframe structure is to define the framework within which price moves. If we do this accurately, subsequent price action will move between areas of higher timeframe support and resistance.

Deviantor_Wayne

Strong levels represented by solid lines. Less significant levels represented by dashed lines. Trendlines represented by slanted lines. More often than not, price action is choppy with much overlap between candles. Strictly following definitions for swing high/low could leave us with a market structure that is just unworkable. Our intent is simply to identify...

Deviantor_Wayne

1. MKRUSDT trading pair is in a global downward price channel. 2. The violet zone is the price area where the most amount of volume was traded. Through identification of areas of support and resistance, we identify areas in the market which will form barriers to the trading timeframe trend. We`ve defined our battlefield. Price then moves within the framework...

Deviantor_Wayne

During the conduct of your analysis it is imperative that you remain aware of the whole area, even though your chart may show support and resistance represented by a single line. Be aware that the price may turn before the line; and that a break of that line does NOT necessarily constitute a break of the support and resistance level. *Notice, that the violet zone...

Deviantor_Wayne

Why is it important to understand the structure of the market? Because decisions to buy or sell are made through referencing current price against previous areas which caused significant emotional response, in particular those areas which led to regret of missing out on the opportunity, or those areas which trapped traders in losing positions.

Deviantor_Wayne

Market analysis is a subjective process. Support and resistance levels are formed through the actions of traders in the market. The nature of markets is that price movement is a function of supply and demand.

Deviantor_Wayne

The market is an emotional creature. Our market analysis is a subjective process. Let the market action tell you where it`s going. Don`t try to tell it where to go. Support and resistance are created by the decision making of market participants, as they operate within an environment of uncertainty. Legend: White lines - significant key levels; Blue lines -...