DarkNote Price Technical Analysis – Bullish Formation

Aayush Jindal

Last Updated: September 7, 2015 10:29 am

2 mins read

DarkNote Price Technical Analysis – Bullish Formation.

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DarkNote Price Key Highlights

DarkNote price spiked higher and looks set for more gains in the near term.
A bullish outside bar candle is formed on the hourly chart, suggesting an upside break is possible.
The price has managed to settle above the 100 hourly simple moving average, which is a positive sign.

DarkNote price moved higher and currently forming a pattern, which point towards more gains moving ahead.

More Upsides?

The DarkNote price moved lower recently to trade near 0.00000068BTC where it found buyers for a move higher. There was a sharp upside reaction after the price fell close to the mentioned level. There is even a bullish outside bar candle pattern formed on the hourly chart, which is a sign that buyers are in control and more upsides are possible in the near term.

There was a bearish trend line formed on the hourly chart, which was cleared during the upside move. Moreover, the price also managed to settle above the 100 hourly simple moving average, which is one more bullish sign. If the price corrects lower from the current levels, then an initial support is formed around the 23.6% Fib retracement level of the last wave from the 0.00000068BTC low to 0.000000829BTC high. The mentioned fib level also coincides with the broken trend line and support area. So, there is a chance of buyers appearing around 0.00000078BTC if the price moves lower from the current levels.

On the upside, the recent swing high of 0.000000829BTC holds the key and can be seen as an initial resistance. A break above it might take the price towards the next resistance area at 0.00000090BTC.

Intraday Support Level – 0.00000078BTC

Intraday Resistance Level – 0.000000829BTC

The hourly MACD and RSI are well positioned in the bullish area, which means more gains are likely.

Charts courtesy of Trading View

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

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In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.