Happy Friday traders Lord ray with lab done crypto calm your number one source for cryptocurrency technical analysis and blockchain
Education in this video we're going to be doing a lighting analysis of Manero
What happened with Manero a lot of stuff going on and also we're gonna be taking a look at ZRX
Potential trade in the future. We'll see so stay tuned guys
Thanks against uh
For tuning in to our lighting analysis today. We're just taking a look at Manero a two Bitcoin on the one-hour chart
Finance exchange, let's get our parallel channel out
12.1
plot point to
Plot point 3 down here
4 5 6
Part line tons and tons of respect all over looking good. What do we want to do next let's take a look at our fibs?
Go down to our swing low. Let's check this out hmm
I'm gonna use this swing low we want to use this swing low down here looks a little bit more
established so
swing low swing high
We know you know dude this guy's right
Ok so what else was going on with Manero and the grander scheme of things closer up
Well, I know this
Plot point one
multiple plot points here, right
Point one point two or five six multiple plot points here, so what does this tell us?
You know actually let me do this guy's okay, so I'm like reap lotting on this for you
Just to kind of show you in my process. This is actually what happened the way mine ended up ended up looking. It's pretty cool
Right here guys right there
okay, so
With a symmetrical triangle going on we hit the top of this channel
Fell down to the heart line bounced back up
Fell down again created this second
Level what do we have here we had a higher low than our previous low ik waiting to accumulation
Came back up. We made a lower high both in our previous highs so what does that form a symmetrical triangle?
Something that was kind of scary
You know I'm long on. This is one of my
conviction buys so look
When we fell out all hope might have been lost oh, we're gonna come down here and test this 50%
nope, the Bulls ended up creating a little bit of rounding action was beautiful and
Then we kind of slingshot it up through this symmetrical triangle this upper trend line of the triangle
Beautiful guys, so we broke
We hooked, but we fell through didn't get a clear
Break you know break hook and go that we always want to see but that doesn't always happen
That's just for us. That's just the way we do it so look at these three huge green candles
We tested this level all last night and trouble
breaking through fell back down touch the 3/8 - Thatta Jesus
Look at that look at that tweezer action guys look at that double bottom reversal once we had that double bottom that reversal
See ya see you, BA. I
Mean this is insane. This is a huge pump guys. This is gonna come back down
We're gonna come back to these levels and test these soon at some point mark my words it will happen
I'll just take a look at Tron yesterday. What did Tron do the same stuff? We just got the animal spirits going on
Bitcoin looks like it's poised to bust out
Just all a lot of the altcoins are starting to wake up which is fine
after a long sustained correction lots of breaking down some aren't that some are just
continuously falling down to levels that are more reasonable, so I
Mean what we broke the 236
Guys this is a I mean what we went straight up, so we know how elastic we are right how many uh?
Satoshi's are we
Let's just do from the top straight down to this 20 ma
2500 Satoshi's away from our 20 ma
This is that's insane. That's that's a lot. We're very overextended from our MA. Look how?
Overbought, we are let me just use an arrow here. Where's that?
Hello give me my tools man
Are we peeking out at right now 82 on the RS on the 1-hour insane too high too fast?
tons of bullish divergence, but that will not be sustainable so
You can almost completely expect there
We're gonna be getting some bearish divergence soon when we inevitably come back to touch our equilibrium levels aka, PMA's
so
Does just be careful of this congratulations if you're in it?
I've been in this long for quite some time been very transparent about that everyone knows it so
Broke out of this up with this downward sloping channel that we've been in since
January 16th so
keep your eye on this just a lot of buzz, but this won't last and
Don't buy right now this would just not be a good time to buy if you wanted to buy
Get in and I'm an arrow wait for a pullback
To these levels see if we can hold
Ok guys the thing about these
Downward sloping channels they hate being disrespected
Anytime something breaks out of them
They normally come right back into then it'll slingshot slingshot back in back into them the way to get out of these
Linear regression channels is to break out and to bounce around for an extended amount of time
On the trendline using it as a support that signifies everyone in the market
Hey, it looks to be that this trend is over and we will
most likely see higher prices
And if it fell below it would do the same thing it'd break down out of this
And it would test this level as a resistance for quite some time and then when the market
Finally up you know
Decided it was time we would see lower prices
It's the same way
So I just remember these linear regression channels I tried treating them like
they have lots of gravitational pull to them right so if you're a
Spaceship trying to get out of the orbit of Jupiter
You this is your fuel right here your RSI if you're at 82 on the RSI or a completely overextended
Completely overbought you're out of fuel so you're gonna get
tons of pullback and not only that you have your mas to that your extended from two so that also has a gravitational pull to
It too, right?
So this is just we're speaking analogies here so for education purposes goes the best way to educate is to use something that
maybe someone can relate to
It's not so relevant to TA but it
Paints a picture in the mind of the individual so they can get a better concept of it, so I hope that analogy
Helped a little bit with
Kind of breaking down linear regression channels, and how their trend lines work and also how pumped up coins like this will
inevitably retrace back down to their
more reasonable levels so
Congratulations on manure guys looking great right now, but time will tell if we can stay out of this Channel
Moving on to ZRX
Want to choose ZRX well downward sloping channel like them all we've finally
Gotten down to levels that had some consolidation not
An extreme amounts, but nevertheless way better than this right here the twig and - we're talking about guys not good
These are more reasonable. We also have a seven eight six level that we are below currently unfortunately
Why I choose this coin
I wanted to talk about this trendline here
And how the upper trend line of the downward sloping channel and this trend line forms a huge falling wedge at some point
We will probably hey, maybe touch this level again bounce up. This could extend for some time
March 9th for March 10th, but eventually we're gonna break out and it might be an incredible trade setup, so keep your eye on
ZRX if you don't have it on your watch list it's just worth it, so what do we see?
We got some
It's almost that much a little bit of bearish divergence right now, that's okay, no big deal
Look at the four hour
This will give us a better glimpse of that MACD histogram
Yeah, okay, so we got them a little bit of symmetrical triangle action going on yes look
That momentum we keep seeing lower highs on it
Same here on the bearish momentum negative momentum also
Losing it we're contracting on our momentum right what else are we doing we're contracting on our price action
Creating this wedge, that's how it works, so we're priming up for a move at some point in the future look at this
Does it make is it any wonder that?
this wedge is
extending just
like the
The way the momentum is contracting right. It's just it's not much of a cool immunity
It's not much of a coincidence at all. It's really just kind of a phenomenon that occurs and so
We will see a move at one point
Within the next what is it?
8 to 10 days whether we have a breakout to the upside or downside it's gonna happen, so keep your eyes on CRX
so
Guys I hope you enjoyed this lightning analysis real quick honest Friday
You got things to do so if you enjoyed this video hit that like button hit that sub button
Hit that Bell and until next time stay hyped
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