for the ALTS i see that we would have a relief rally for the summer before the next fed meeting in September , its a period that we could get some relief for all the markets .
my scenario is the green line ( chikou span ) crosses the first red line from below , that would be a confirmation that the ALTS would soar to the upside , we have another resistance level in 2655 , and the strong volume zone (2964-3664 ) that in my opinion would be the end of the alts summer .
we notice also , that the weekly RSI is facing the support channel , but it will broke , and the macd will make the cross and that would be the signal in addition to the first condition i gave (chikou span ).
the lines are support and resistance lines .
zones in red are high volume traded areas (strong support and resistance )
the channel drawn , you can better see them in the daily time frame .
in my opinion a leg down is also possible before the relief rally of alts , if 28 and 29 july news come negative .(1109 -951 area)
not a financial advice
thank you
my scenario is the green line ( chikou span ) crosses the first red line from below , that would be a confirmation that the ALTS would soar to the upside , we have another resistance level in 2655 , and the strong volume zone (2964-3664 ) that in my opinion would be the end of the alts summer .
we notice also , that the weekly RSI is facing the support channel , but it will broke , and the macd will make the cross and that would be the signal in addition to the first condition i gave (chikou span ).
the lines are support and resistance lines .
zones in red are high volume traded areas (strong support and resistance )
the channel drawn , you can better see them in the daily time frame .
in my opinion a leg down is also possible before the relief rally of alts , if 28 and 29 july news come negative .(1109 -951 area)
not a financial advice
thank you
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