Today's Learning - Beartrap
A Beartrap is basically when the price starts going Down to make everyone believe it will go in that direction but sudently goes UP making everyone that believe in more downtrend to be liquidated.
Ethereum Analysis
ETH is trying to break the support of 2500$. This will only happen if BTC break 37K too. Be carefull because this could be BEARTRAP.
LUNA Analysis
LUNA on the other hand is trying to break the 100$ resistence but is having a lot of resistence. She manage to hold above EMA21 but on the RSI iindicator is having Bearish diversion which is not good. This could mean that LUNA it will go down but could do a Bulltrap and take the price to 100$ again and then push it to 75$.
AVAX Analysis
AVAX break the EMA200 support and is now going to the next one at 55$ but it could also go to EMA500 at 40$.
Maker Analysis
MKR is rejectinng EMA21 everytime which means more downtrend for this one.
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Supertrend Indicator Daily and Weekly
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ETH | Weekly chart | Down Trend |
| Daily chart | Down Trend |
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LUNA | Weekly chart | UP Trend |
| Daily chart | UP Trend |
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AVAX | Weekly chart | UP Trend |
| Daily chart | UP Trend |
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MKR | Weekly chart | Down Trend |
| Daily chart | Down Trend |
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RSI Indicator
Avax is going down and could go even more.
ETH and MKR are still above 40 but still below 50 which is not good.
LUNA is trying to break resistences But is currently having BEARISH diversion which means it could go down in the next couple of days.
ETH
LUNA
AVAX
MKR
Suports and resistences
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ETH | Suport -> 2500$
| Resistence ->3000$
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LUNA | Suport -> 85$
| Resistence ->100$
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AVAX | Suport -> 55$
| Resistence -> 72$
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MKR | Suport -> 1675$
| Resistence -> 2000$
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Volume (in the last 7 days)
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ETH | 433k->533k Bigger, it is trying to break the support.
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LUNA | 5.8M->4.2M Lower. Luna is trying to break the resistence but has no volumes..
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AVAX | 3M->3.3M Bigger.
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MKR | 2.5K->2K Lower.
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