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  Bounced from the support: The price action of the leading cryptocurrency is moving in a  descending triangle  and at the same time, it is moving between the resistance and the support levels from $31K to $39.5K. Previously we have been watching that the  volume profile  of the complete price action is showing that there is a weak interest of the traders close to the support and showing a strong interest of the traders even above the resistance of the  descending triangle  . The price action followed this signal and again bounced by $31000. It is to be noticed that so far we are not having any closing below the $31K  support level  on the daily time frame chart. Different indicators are giving  bullish  signals: If we take a look at the  volume  then it can be noticed that even though the priceline of  Bitcoin  reached the support $31000 but the sell  volume  was not powerful. Finally, the price action is getting bounced by the support. After placing the  MACD  indicator on the chart,

  Hi friends, and welcome to the new update on Bitcoin (BTC).   Parallel channel: On the daily time frame, the price action of  Bitcoin  has found a price-level resistance at $39500 and horizontal support at $31000 and moving between resistance and support very well since after the 19th of May 2020 this move of the  Bitcoin  has formed apparel channel. Descending triangle: At the same time, the price action has also found a down trendline resistance that is working as a rejection line again and again. The price action is not able to break out this resistance so far. The support of $31000 and the downtown and trendline resistance has also formed a  descending triangle  . Head & Shoulder pattern: On the  daily timeframe  chart, while the price action is moving between a  parallel channel  and in the  descending triangle , it has also formed a Head and Shoulder pattern. We can see a left shoulder then a head is higher than the left shoulder and the right shoulder is lower than the hea

  Hi friends, hope you are well and welcome to the new update on Litecoin (LTC). Different harmonic moves and their chain reaction: In the month of January 2021, I shred three ideas. One was the  bullish Shark  formation on the weekly time frame that was the smallest pattern   Then we had the bigger pattern on the same weekly time frame and this was a  bullish Butterfly   and the biggest pattern was the  bullish BAT  on the 2-month time frame chart.   Finally, the price action moved up from the buying zone of the smallest  Shark  pattern and crossed the sells zone. Then started moving up from the bigger pattern of the bullish  butterfly  and hit the sell zone, but so far we have a very small  bullish  spike on the biggest time frame chart of  bullish   bullish BAT  . This is a big indication that a big move is still remaining.   Different support and resistance levels: After the bullish divergence from the different harmonic patterns (discussed earlier), the price of the LTC has surged

  Hi friends, hope you are well and welcome to the new update on BITCOIN(BTC) Reached the low of Jan 2021: The price action of  Bitcoin  dropped at $28800 dollar, which was very close to the low of the first week of January 20201, when the price action dropped from $33600 to $28130 in a single day. However, the long-term strong support is at $30K because we have more touchpoints at this level. A  parallel channel  formation: The price action of the leading cryptocurrency has formed a  parallel channel  between $39500 to $31000. So far we don't have even a single closing below $31K and we have more touchpoints at the resistance of $39500 and less touchpoints at the support of $31K. The more we will test support or resistance the more there will be chances to break out or breakdown of support or resistance and so far the testing of resistance is more than the support, moreover, the  volume profile  of the complete priceline of the king of all cryptocurrencies is moving within this ch

    Hi friends, hope you are well, and welcome to the new update on XLM coin. Breaking down the broadening formation and the SMAs. On the 2-day chart, the price action of the Stellar coin was moving in the broadening formation since the 1st week of Jan 2021. In May 2021 the candlesticks of the Lumens broke down the support and also broke down the 2-day 100 simple moving average as well. Now the price action of Stellar is at the strong support of 200 SMA.   Volume profile and the $0.28 support. After placing the volume profile on the complete price action from the month of Jan up till now. It can be observed that there was a strong interest of the traders even below the support of this pattern and we have the weak interest of the traders near to the resistance of the broadening formation. Therefore the price action followed this signal and broke down the support. Now the price action is moved very close to the level where we have less interest of the traders and there is a possibility t