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. 

 

Overview: 

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. 

 

Update: 

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!



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