#Educational
Inverse Head And Shoulders
The inverse head and shoulders chart pattern is used to predict the reversal of a downward trend. It is also sometimes called the “head and shoulders bottom” or even a “reverse head and shoulders,
traders can draw a neckline between the shoulders and the head – the two peaks between the low points- showing that prices are likely to rise.
Once the pattern completes itself and the neckline has been broken, traders can determine profit and price targets.
Inverse Head And Shoulders
The inverse head and shoulders chart pattern is used to predict the reversal of a downward trend. It is also sometimes called the “head and shoulders bottom” or even a “reverse head and shoulders,
traders can draw a neckline between the shoulders and the head – the two peaks between the low points- showing that prices are likely to rise.
Once the pattern completes itself and the neckline has been broken, traders can determine profit and price targets.
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#Chainlink has launched a new developer platform called Functions, aiming to connect web3 apps with traditional cloud software.
#Educational
Triple Top
Three consecutive, roughly equal peaks which may at first resemble a double top. These peaks represent failed attempts to break through an area of resistance. Each test of resistance is typically accompanied by decreasing volume, until a breakout in price occurs with an increase in volume. It occurs after an extended uptrend and often represents a reversal pattern that indicates a minor, if not long term, change from an uptrend to a downtrend . Trading volume trends should also be employed to confirm the strength of the signal.
Place a SELL order when the price breaks through the support line and completes the pattern.
Triple Top
Three consecutive, roughly equal peaks which may at first resemble a double top. These peaks represent failed attempts to break through an area of resistance. Each test of resistance is typically accompanied by decreasing volume, until a breakout in price occurs with an increase in volume. It occurs after an extended uptrend and often represents a reversal pattern that indicates a minor, if not long term, change from an uptrend to a downtrend . Trading volume trends should also be employed to confirm the strength of the signal.
Place a SELL order when the price breaks through the support line and completes the pattern.
#VIDT has broken the dynamic support and we expect the price to decline to the support area of $0.019.
#Bitcoin price reached $22,000 after falling more than 5% today and is expected to continue to decline after a minor correction.
It's been 4 months since #Bitcoin dropped 5% or more in a single hour. But as of (1am-2am UTC), we saw this streak get broken. A quick recovery will be dependent on how much worry the crowd shows, allowing whales to scoop weak-handed coins.
#Educational
OBV (On Balance Volume)
On Balance Volume is a volume indicator that uses trading volume to predict if a price will change.
The idea behind OBV is that the trading volume impacts the price and can serve as a powerful tool to decide if a trend will last or not. On top of that, OBV also offers clues as to what type of participants are trading in the market. For instance, if the volume increases and the price remains flat, it could imply that institutions or more sophisticated players are buying assets from retail traders only to then sell them back as soon as the price goes up.
Unlike for the RSI, numerical values aren’t important to generate signals with the OBV because it’s a momentum indicator. The slope and its direction provide more insight than the absolute value. Broadly speaking, when the volume on up days is outpacing the volume on down days, we can expect an asset to follow the move up eventually. The steeper the slope, the stronger the trend.
OBV (On Balance Volume)
On Balance Volume is a volume indicator that uses trading volume to predict if a price will change.
The idea behind OBV is that the trading volume impacts the price and can serve as a powerful tool to decide if a trend will last or not. On top of that, OBV also offers clues as to what type of participants are trading in the market. For instance, if the volume increases and the price remains flat, it could imply that institutions or more sophisticated players are buying assets from retail traders only to then sell them back as soon as the price goes up.
Unlike for the RSI, numerical values aren’t important to generate signals with the OBV because it’s a momentum indicator. The slope and its direction provide more insight than the absolute value. Broadly speaking, when the volume on up days is outpacing the volume on down days, we can expect an asset to follow the move up eventually. The steeper the slope, the stronger the trend.
#IMX price has started to decline after reaching the downtrend line and again we expect a drop to the support level of 0.910 $ - 0.930 $ and if the support is broken, the next price target is $0.730.
#Uniswap Labs introduced a mobile crypto wallet for iPhone users.
#GMX , After reaching its historical high, it is moving in a descending channel. If the price can break the channel, it will probably fall to the support of $59.40-60.90, otherwise it will rise to the resistance of $76.50-77.90.
ConsenSys announces public testing of ZK-Rollup network compatible with Ethereum