Three Simple Ways to Spot Pivots in Cryptocurrencies

Thanks to inaction by the U.S. SEC, the cryptocurrency trade has been tough.

However, if you pay close attention to technical pivots, opportunity can be uncovered consistently. In fact, look at the Binance Coin (BNB), for example.

For some background, the Binance Coin is the native coin of Binance, one of the biggest exchange in the world by trading volume. Most likely, it’ll be used to fuel all operations of the Binance exchange and its ecosystem, including paying for trading fees, and exchange fees. It can also be used to invest in certain initial coin offerings (ICOs) that are listed on Binance.

So, we had a strong fundamental argument for the coin.

At the same time, we had three powerful technical arguments, as well.

Learn How to Spot Unique and Predictable Patterns in Cryptos 

Full Series Here

Technical Argument No. 1 – Breakout

In late February 2019, the coin broke above prior double-top resistance, and began to see higher highs in an ascending channel, which is still firmly in place.  In addition, the coin broke above double top resistance again in recent weeks above $15.70.

Technical Argument No. 2 – Golden Cross

In early 2019, the 20-day moving average crossed above the 50-day moving average, which is also referred to as a golden cross. 

Technical Argument No. 3 – Oversold Bounce

You’ll also notice that in early February 2019, the coin began to pull back to its lower Bollinger Band (2,20), which we consider an oversold extension. At the same time, relative strength (RSI) was beginning to bottom out just under its 50-line – another oversold indication.

In addition, Full Stochastics were aggressively oversold at its 20-line. You’ll notice that each time Full STO hits that line, as the coin challenges its lower Band, it bounces. That has happened about 80% of the time.

We may not hear much from the US SEC regarding cryptocurrencies, near-term, great opportunities can still be found with technical analysis.

In fact, the setups we mention above have led to higher highs in many of the coins we watch.

Give it a shot. You may be surprised just how well it can work.

Free Bonus Report: There are several patterns that can pinpoint the likely price movement of cryptos. Click Here to get the full report on how to spot these patterns.