TonyTheBullSeverino
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TonyTheBullSeverino
Chartered Market Technician. Cycles, crowds, psychology. I don’t predict — I observe structure. Less noise. More signal.
832Posts
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183%Best ROI
Joined on 15th November 2024
Boston, MA
NEXOUSD Analysis per Chart Request
This coin is at a critical juncture. It must hold the Bollinger Band basis and move above the upper Bollinger Band with force.
This move up will prevent the LMACD from crossing bearish, and instead cause it to diverge up and strengthen to the upside.
Failure to hold the basis would lead to a bearish crossover of the LMACD.
I see this as a riskier chart than many other alts at the moment, but there's still a strong chance this plays out positively.
Bitcoin Bulls Must Follow Through Next Week
Bitcoin made a strong recovery back towards all time highs. Things are looking good currently. But next week bulls must follow through.
I did want to warn of a few things to consider:
It’s October 4. That’s only 4 days into the monthly candle and quarterly candle. It would be somewhat unusual to see such a tiny amount of lower wick and we take off higher at the start of the candle.
On the weekly, we didn’t get a buy signal on the Bollinger Bands. There’s also a lack of breakout volume. The Bollinger Bands are starting to expand, signaling that volatility is back. This could lead to a head fake situation where we dump back to the lower band. Note: I am referencing the BTC CME chart. We could still get a buy signal on spot exchanges.
If we do get volume next week and break out higher, it should be one of the steepest climbs and a move towards a grand finale for Bitcoin.
