in

Bitcoin Trading Analysis! Ripple XRP, COTI and OIL Technical Analysis

VIDEO TRANSCRIPT

Hello and welcome back to All Buzz. It’s me, Jimbo, back for another market update in today’s video. We’ve got a roundup of Bitcoin technical analysis. We are going to have a look at a pattern on exile P, which could be huge. Coaches pump 25 percent since our last video. And oil is under $20 a barrel. If you want to hear about all that and more, please stick around for the rest of the video. If you want to continue to support the channel, please slap a log on this video. And if you want a chance to win a crypto tax, you start to care. Make sure to subscribe to the channel if you know already and leave a comment down below and we’ll announce the winner on Saturday. So we’re gonna start right here in the weekly chore as we normally do. And let’s just point out some areas of significance. First of all, we did get our weekly close up of the 200 moving average last candle and we have currently gone up today attested to six thousand five hundred before seeing a slight rejection. We are at six thousand three hundred forty-six dollars a time of recording yet to break through that all-important 40 levels on the RSI facing that resistance as we speak. I think if we see rejection, we’re very likely to go on to see a candlewick back down in this three to four and a half K zone if we can break through this RSI without seeing any rejection. And I think we’ll go on to break through the six thousand five hundred and the seven thousand three hundred before testing our all-important Purple Resistance line, which was formed as long term support from an uptrend back in January 2019 is where it began. And let’s start now down to them daily and see what that is showing us. So we’ve been watching the exponential moving average driven on the daily over the last couple of videos. And in our previous video, we were just above the 20 moving average and we were looking to see if we’ve got to go up and test through the band. Well, we’ve been rejected. We’re now below it. We’ve seen our daily work today go on and test that 20 moving average, which exactly coincides with our six thousand five hundred resistance. And as of yet, so far today, we’ve seen rejection. If you’re watching this on Tuesday, we really important to see if we’ve got broken up and closed above this 20 moving average. That’s going to be really key. If we see any rejection, then as far as I’m concerned, we can see a continuation of the downtrend, at least in the short term. And we’ll go and have a quick look at the 4:00 hour and see if there’s any indication there that we’re going to see any continued bullish price action for our show is looking really interesting right now, guys. As you can see, we are between very stiff support and very stiff resistance. We’ve currently got the exponential moving average ribbon sap below us as support. But we’ve got that 6500 and resistance to breakthrough. And you can see that we got really close tightening range here. Which way we break either above or below. One of these two lines here is going to be really key. Break that break down below the ribbon and continue the downtrend, break up above the 6500 an area and we could continue to see this increase. And at the moment, Bitcoin is very much ranging. When you have a look at the one hour chart and I’ll take this off for a moment, if you have a look at the one hour chart and zoom out a little bit, you can see that we are very much range. This is very sideways price action. If you look at this, we’ve got our upper resistant seven thousand one hundred fifty and you could put our bottom range at the moment probably here about five thousand six hundred. But it’s a really tight area, so well worth keeping an eye on, especially as I said on that for our chart, we’ve got a real indicator thereof which way this is going to want to break with having such key support and a key resistance as our tightening range. So definitely we’ll keep an eye on this to see which way we closed. Just a quick one for you, XP fans, probably not the most significant chart pattern we’ve ever seen. But you will have seen people trying to correlate this particular time period of price action to this previous fractal which saw X a burst up forty-two and a half thousand per. The path certainly wasn’t followed exactly the same. But what I did want to bring to your attention is we are on the 180 bar, 182 bar. We’re about to set it that we’re very quickly approaching this eight hundred twenty-sixth day. I wonder if we’re going to see some example of fireworks at the end of this. Sakar said certainly not the strongest pro-child correlation of all times, but they just want to bring it to your attention and say maybe keep your eye on it. Just in case there might be some traders who are looking at this 826-day pattern and thinking, are we going to see it again? Next up, we’re going to revisit Koti Bitcoin, which identified in our previous video as looking like it was on its way to setting a new uptrend. The time of recording in the last video price was at 240 Satoshi, which you can see is where we have the cursor at the moment. Since we identified at 240, so she’s we’ve seen a maximum drawdown of about 10 percent, but a current price increase top of twenty-five point nine per cent wouldn’t be surprised to see this continue to push up unless bitcoin does something like putting a big green or big red candle on the charts. As we know, the old coin charts are very often affected when bitcoin does do that, seeing probably a local top there form with this for our candle. However, it’s still holding support at the moment with one hour left on this for our candle. And certainly, if we start to see pushing back up any time soon, expect it to break out of that 300 satoshi range and continue to push to the upside. Include the T-A for today’s video. We will finish up here on CFD for crude oil. I previously identified you this massive range that we were seeing formed from 2009. And as you can see, we’re right here on this bottom support below it as we speak. And if we go down to the 4-hour chart, I can show you why I’m showing you two right now. And here we go. Here it is. We are below the support line. As you can see, this is the purple’s trend line that you can see on the weekly chart. And we’ve gone below the previous low we set back here on the 18th of March. We’re currently trying to test our way back above it. That is at $20. Exactly. So we’ve seen oil price below $20 today. It’s the first time oil’s been below the $20 level since two thousand and two. That is absolutely crazy. It just shows you the significance of the things that are happening in the world right now. And will we ever see oil significantly above $20? Well, we’ll have to keep our eye on this chart and see if we can break that is all-important. Now, the resistance line, which is going to be seriously heavy. And I expect if we do break that line around the 21, 21, 70 marks, we will breakthrough with some velocity. See, there’s a gap here on the for our future chart. Be interesting to see if a guy can test that. But that’s going to that’s a long way away. That’s almost 100 percent increase in for oil to rally 100 percent. It takes a hell of a lot more price action than it does for an old coin to rally 100 percent. So watch this space. Let’s see what happens. But oil has dropped below $20 on the barrel today for the first time since 2002. And that draws our video for the day to close. I’ll be back on Wednesday for another one. Sorry, it’s been a short one today. I hope you’ve enjoyed the content nonetheless. And if you have police lapper like on the video, if you want a chance to win that crypto tags, you start. Okay. Make sure to subscribe to the channel if you know already and leave a comment down below. We’ll be doing another draw on Saturday. If you’re craving more altcoin news and bitcoin news, come over to Oakland Boaster. Oh, that’s a brilliant place to get all of your crypto information in a one-stop-shop for me today. That’s everything. I’ll be back on Wednesday. Take care, guys. Bye.

Report

Ledger Nano X - The secure hardware wallet

What do you think?

12 points
Upvote Downvote

Comments

Leave a Reply

Leave a Reply

Loading…

0