IMUGENE CHART. TA only, page-11555

Hey all. I haven't been following the threads much lately as I've been devoting most of my spare time to my crypto business I started last year. I've continued mucking around with learning some basic TA for my crypto holdings, and thought I'd have a look at the IMU chart again.



To start with, just looking at the channel we are trading in at the moment and the fibs. I see two potential options over the next few trading days, one that we push through the upper trend line to start a new uptrend, or we bounce back off the upper line and head lower.



On this next chart I'm using the Fixed range volume profile. Looking at the longer range from way back in May when we were last at the level of our recent low (0.265). Then comparing that to the Fixed range volume profile just for this recent downtrend, they correlate very closely. As such I am seeing a significant level for support/resistance and we are sitting right on it. IF we were to see the SP stay above that level and a break through the upper trend line, I am expecting a move north. Should that move fail, I would expect to retest the bottom of the channel, hopefully with a bounce off 0.265 for a double bottom.



Just a quick look at RSI and MACD. RSI is still towards the bottom of the channel which is positive for a move north. MACD would also potentially support a move north given the fast EMA crossed the slow EMA on 1st Feb.

Keep in mind I am VERY much an amateur and would love to have some feedback from the Gurus. In particular, anyone's thoughts on the fixed range volume profile indicator I've been using recently. I've been using it as an additional input to work out which support/resistance/fibonacci lines are more likely to be significant, and it is providing me with a much more objective pictorial representation that helps to eliminate some of my inherent bias. Does anyone else use it? I've been using it with great success in the crypto space, however I've only been using it for a short while and so my sample size is rather small. I've done a little back testing and it seems fairly robust thus far.

PS: If we are to see a move north in the next few trading sessions with a breakout through that upper line of the channel, then my target would be 38-39c for the first move, then heading to the 50% fib level around 0.445-0.45 region.