How do you judge if crypto is doing well? It is not an all-bullish trend that makes a good market. There should be a healthy pull or struggle between demand and supply. Looking at the chart today, following the 12 o clock session, there was a very strong selling pressure at the 13 o clock session. This buying pressure has brought the price down to the support level of $0.006102 from a high of 0.006679. This bearish trading session is an opportunity for investors to buy the crypto at a cheaper price. When you buy at a very cheaper price and hold for a long time you make a profit in the long run as the value rises.
Key Levels
Resistance: $0.005000, $0.005237, $0.005623
Support: $0.004754, $0.004500 $0.004330
IBAT/USD Short-Term Trend: Bearish (15-Minute Chart)
Bears have dominated the market since the 13 o clock trading session. There have been some bullish activities in the 15-minute timeframe, but they are not as strong as to reverse the trend.
IBAT/USD: Views From the Indicator
Looking at the Relative Strength Index, we can expect that the price of IBAT/USD to rise soon. The reason is that the price is being oversold. Once the indicator line measures below 30%, the price is bound to retrace an upward momentum. The market is not meant only to go in favour of sellers, neither is it only meant to go in favour of the buyers. Each one has its season. The time to buy is at the time when the price is in the oversold zone. The reason is that it is not likely the price will not fall any further. It is now going to swing up. Buying at this point afford investors opportunities to maximize profit when the price swing high. The MACD also support the information that the RSI gives. The negative bearish histogram of the 20:00 hour trading session is pink instead of red colour. That means the market is recovering from the negative.
Want a coin that has a huge potential for massive returns? That coin is Battle Infinity.
Buy IBAT now.
Leave a Reply