Technical Analysis - Sentinel
SENT/BTC - 04/17/2020
As shown above, we will be updating the technical analysis of SENT/BTC from the 28th of February 2020.
Currently, SENT is still in a very long-lived and tedious range, trying to break out, but getting rejected by sellers reasonably quickly again. We see evident and strong support, which is very “flat,” and so far has not been broken clearly. This indeed shows some interest and strength of buyers to maintain that level as support and a level for accumulation.
Looking at the MKAST Algorithm, we currently see still a sell-position. This is coming right after the most recent drop from the range highs, and presently in a very flat market structure, the algorithm does not see any reason for bullishness. Something exciting is showing on upon the TJ-Index, which is rising slowly but steadily, creating with each candle a more substantial bullish divergence, in what could be seen as an exhausted bearish structure. This bullish divergence on the index, which is showing divergences on multiple indicators, combined with range lows and very low sell-volume, could be indicating a soon reversal and yet another test of the range highs. For an experienced trader, the invalidation below the fundamental horizontal level is very clear, and possible accumulation as close to that key-level is just as well, worth considering in his eyes.
This Technical Analysis is made by Kong Trading. The provided Analysis should not be considered financial advice!
The content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by Upblock or any third party service provider to buy or sell any cryptocurrencies (also called digital or virtual currencies, crypto assets, altcoins and so on). Trading and investing in cryptocurrencies (also called digital or virtual currencies, crypto assets, altcoins and so on) carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrencies, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading and seek advice from an independent financial advisor. ICO's, IEO's, STO's and any other form of offering will not guarantee a return on your investment. Since
Any opinions, news, research, analyses, prices, or additional information contained on this website is provided as general market commentary and does not constitute investment advice. Upblock will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. All opinions expressed on this Site are owned by the respective writer and should never be considered as advice in any form.