The Trust Layer for Market Analysts

The analyst is looking at Onyxcoin, XCN versus USDT and Bitcoin, noting a price of 0.00589. He says there are 9 hours and 13 minutes left in the day, which is Sunday, November 16. He analyzes the chart suggesting a potential double bottom formation on the daily timeframe. The analyst draws a W shape, anticipating a recovery. Switching to a one-hour chart, he points to a breakout from a rising wedge pattern but with low volume. He draws Fibonacci retracements on the one-hour chart, noting support at 0.00586, adding that the price could find support a little lower around the 0.005 level. The 1-hour RSI is bouncing off the oversold zone and MACD is showing bearish momentum. The analyst says a four-hour chart is showing a bullish divergence on the RSI, Stochastic, and MACD. The analyst expects a move up and not to go below the recent lows. He sets a target of 0.01 sometime next week. Moving to the Bitcoin chart he mentions the chart has not gone lower and that it has found a good support near resistance and near a golden ratio. He mention that to confirm the bottom, he wants to see the XCNUSDT chart reach 0.00821. He expects between .10 and .20 by the end of the year. If there were to be a bearish scenario, a strong support area starts from 0.0053 to 0.0048. On the weekly chart he notes the weekly MACD to be building bearish momentum. Overall, he thinks the coin is at a low point.