KEY WEEKLY - UPDATE 12/15/2020 - I Forgot to Hit Publish! Sry!So. As the title says I forgot to hit publish on my weekly KEY update. Off to a flying start!
We see our last candle killed our TD9 dreams; but that's OK as we're still in the wedge, thought fighting at the bottom.
Volume is still declining, which is surprising as it was already getting low now it's practically non-existent mind you the candle for this week is young..
All in all, our chart hasn't changed a whole lot: We're still hanging above EMA 21 (albeit right on it at this moment), we still seem to be consolidating within the wedge, our uptrend is still very healthily intact.
Basically the only interesting thing is the RSI seems to be fighting upwards off the bounce from the lower boundary of the consolidation wedge. An interesting reaction to say the least, and definitely signs of bullish support.
Kind of a boring one but that's the life we lead when it comes to the alts some times. We're seeing massive growth in other small and mid cap coins (especially today on the mid-cap) and I don't anticipate that trend to stop for... Well it could be a long time.
We are likely to see more consolidation on this chart for a short while longer, bottom line. With this low of volume and this much sideways movement the size of the eventual breakout grow ever larger... But that could also take a while.
UNTIL NEXT WEEK! (ish) This is not financial advice.
Ready2pop
KEY - December Update: ALT Season Soon Time?Looking at one of my favourite alt's (and seemingly everyone elses!) SELFKEY once again today. It's a monster in the waiting, but like Tom Petty said the waiting is the hardest part.
We saw a pretty good series of shakeouts last week, but the weekly candle closed above EMA 21 in what's almost a doji. Bottom support line for the uptrend seems to be all but forgotten about as the shakeouts couldn't even challenge EMA 21.
Decent sell volume on the weekly is beat by the buy volume the week before. This is a pattern we saw just before the last breakout.
We see this pattern also on the monthly chart, with buy volume posting a good month in November:
Something noted on the chart, RSI is trending extremely low despite the relative strength we're seeing elsewhere in the chart. This is of course due to RSI being Relative Strength, and relative to the recent pops on the chart it has been weak. EMA RSI is still strong, so this is a good sign of long term growth, hard to go down when you're rock bottom. We are seeing the very start of an uptrend potentially forming, too early to confirm anything however. When we get going up it'll be a BIG move up..
BOTTOM LINE:
We may be looking at a couple more weeks of building and slow accumulation as the volume begins to build across the alt markets and BTC chills out a little bit. The volatility right now is costing the impatient lots of money, so be careful out there and wait for things to normalize slightly before going risky mode. You can't foresee the futures when there's no past to go on, and we're entering uncharted territory across the markets within the next year likely.
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I am going to post weekly updates on this coin as I am receiving daily requests for it, which is great! I really appreciate everyone who takes the time to contribute to my posts and support/criticize my ideas. Any input makes us all better and that's why I make these posts public. That said, with the volatility in the market our weekly chart seems to be the best road-map forward; so expect the next update in around 7 days time 🤙
This is not Financial Advice. 🤙
STRAX - Stratis Showing life for the first time in 3 years? Hello friends and true believers.
What a lovely day. Alt season is upon us, the money is flowing like it ought to, and looks like it might be for a long time coming.
There will be sell days of course, where the market seems to drop, but as we've seen this year, once momentum gets going it usually runs for at least a month before major stoppage.
Looking at STRAX, the newly rebranded STRAT coin, it's showing it's first real sign of life in over 900 days moving above MA 50 after being rejected at it a few weeks back to make a higher low..
This is a good sign for additional growth if we can stay above this level.
RSI is not yet overbought, might be a small correction soon then right back up again.
MACD just crossed bullish again.
ATH was around $25 for strat. A boy can dream, can't he? Short term targets are mapped. This IS A WEEKLY CHART, so short term could still be a month+.
This isn't financial Advice.
ZIL - Look out Tokyo, Here Comes GodZilliqaNow HERE is a textbook example of a Cup and Handle that's about to end. I mean if you want to learn some basic trading, here it is.
Cup and handle is a formation that's represented by a U shaped recovery or the cup, followed by a consolidation period representing the handle.
Then we go up
We've been in a historic accumulation area for weeks now.
Volume has absolutely tanked.
Actually every indicator on this chart points to a breakout. Easy catch.
This isn't financial advice. 🤙
KEY - UPDATE: Big Volume Starting, Big Profit Coming?KEY, my favourite moon-shot, posted it's biggest volume week in some time - doubling last weeks volume.
KEY is a really interesting project, from their website, selfkey.org: Start a new business, open a new bank account, or get documents notarized through the SelfKey Marketplace. Powered by the KEY token and priced against USD, the SelfKey Marketplace provides access to a variety of services with full transparency on documentation requirements, cost, and total processing time.
Majority of this came yesterday, With a pullback once it started to test it's upper resistance as BTC pulled the market back.
I'd expect a move up in the coming weeks at this rate. This is a low volume pair, by Binance standards at least; so resistance is limited. Big chunk of the order book got eaten yesterday.
MACD is heading to a bullish cross.
RSI is so oversold there's a picture of it in the dictionary as the definition for oversold.
Short term targets are mapped on fib up to fib 3. A comment on my previous idea said to imagine the profit if it reached $1+. Let's imagine shall we?
Big gains soon. Love you all 🤙
This isn't financial advice.
