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BTC/USD and its crucial support and resistance areaLooking at this Daily BTC/USD Bitstamp chart from around Oct 2020 to 29th July 2023 (today) we can see a few obvious chart patterns that BTC is still in on this daily chart. 1) Ichimoku Y-Wave Pattern AKA a Broadening Wedge Pattern/Megaphone Pattern 2) Ascending Channel Pattern 3) Descending Channel Pattern 4) Rising Wedge Pattern We can clearly see the crucial range that BTC must break ABOVE and turn into strong support, which is around $28,709 to $32,360 as highlighted by the channel with horizontal dotted lines with yellow shading. This area has been both strong support and resistance quite a few times over the years. As a Strong Support range: Sat 2nd Jan 2021 to Mon 1st Feb 2021 Wed 19th May 2021 to Fri 23rd Jul 2021 As a Strong Resistance range: Mon 9th May 2022 to Sun 12th Jun 2022 Monday 20th Mar 2023 to Monday 8th May 2023 Mon 29th May 2023 (1day) Wednesday 21st Jun 2023 to 29th Just 2023 (as of typing this) Using @LuxAlgo Buyside & Sellside Liquidity indicator, we can see that BTC is slowly filling up its Liquidity Void from around $29,611 to its bottom at $27,051. As we can see from the history of the chart, quite a few of Liquidity Voids do end up getting filled back up even after a long period of year and a half. We can also see that a Buyside Liquidity line is located almost exactly on the top of our important support/resistance area. Using the Visible Range Volume Profile (VRVP) in its Delta mode, we can see what the Traded Volume difference was on each of the Volume Profile Bars for this entire charts visible range. Note that the Volume Area Up is Blue and Volume Area Down is Yellow. Here is a closer look at this 1 day chart. Note that BTC is still below its Bollinger Bands Middle Band Basis, the Lower Band is still pointing downwards and the Upper Band looks like it may curve downwards. I have added a Fixed Range Volume Profile (FRVP) indicator from Thur 15th Jun 2023 to Sat 29th July 2023 (as of typing this). The FRVP is also in its Delta mode and you can clearly see the Traded Volume differences for each Bar. Note that again the Volume Area Up is Blue and Volume Area Down is Yellow. Looking at the Chaikin Money Flow Indicator (CMF) we can see that the CMF Line is still in the Distribution Zone under its 0.00 Base Line and note that it is still Below its Least Squares Moving Average (LSMA) indicator. Note that the LSMA has curved upwards at the moment. Looking at the Relative Strength Index (RSI) we can see that momentum has dropped and the RSI Line is still below its 9 Period EMA line. Using the Bollinger Bands on the RSI we can see that the RSI now has little bit of room to move downwards and a lot of room to move upwards before becoming over extended/overbought/oversold. It really is good practice to be on the lookout for any Convergence and Divergence with the RSI and the Price. The key takeaway from this post, the Resistance Area from around $28,709 to $32,360 is very, very important! Note we also have a Buyside Liquidity Line located almost directly on $32,360. For the Upside: A successful Daily Candle CLOSE above the $32,360 level and any successful re-test as strong support will be a good sign of continued positive momentum to come. For the Downside: Failure to CLOSE a Daily Candle above the $32,360 level will be a good sign of continued sideways to eventual negative momentum. Anyway, i hope this post is helpful.
BITSTAMP:BTCUSD
by entertheroach
VET/USD - My Longterm PlanVeChain update with my opinions and what i plan to do if my opinions are correct: Here is a closer look at the 1 day VET/USD chart: While VET did have a nice move up from $0.0152 to $0.032, that impetus is gone and VET is now making Lower Highs and Lower Lows. Notes: VET is still in its Descending Channel Pattern. VET is back in the Bearish Zone of the Ichimoku Cloud. VET is under both its 50MA and 200MA levels. The 50MA has crossed back under the 200MA on this 1 day timeframe. If we look at the volume for VET/USD, it’s been very low since around July 2021 and has not really recovered. On this chart, i have added various Support and Resistance Lines as well as Areas of Interest as highlighted with the Black Dotted Lines with Yellow Shading. If we look at the Chaikin Money Flow (CMF Indicator), we can see that the MF Line is still very near its 0.00 Base Line, a cross below the 0.00 Base Line will take VET into Distribution on this 1 day Timeframe. Note the the MF Line is still below its Least Squares Moving Average (LSMA) Line. My longterm Hodl plan for VET/USD: I still believe we will see $0.0096 to $0.0084 especially when the USA finally admits publicly that it is in a Recession, which when it does, will mean it’ll actually be in a Depression. So if this recession plan follows through then i will be looking to buy in around $0.0096 to $0.0084 and longterm hold until it reaches back to the ATH of around $0.28 and then re-asses the situation. A successful Daily Candle close below $0.0152 will be my first confirmation that we may see below $0.01. With the potential oncoming of this world depression, if the only way out for the US is to start WW3 to counter BRICS, the loss of the Petro Dollar, the loss of sanction power and the growing +$32T of debt then i believe we could see $0.0057 to $0.0043. When the oncoming recession/depression pivots and the new Bull-Run starts, after a while, keep an eye out for when the Mainstream Media starts broadcasting to the public about huge Crypto Gains! When this happens you’ll suddenly have random family and friends who now want to jump into crypto because it has gone up 1000s of %! This will be the time to consider taking profit on any long term hold as all the newbies jumping on the band wagon will be providing EXIT LIQUIDITY to those who got in at a really low price. Once this happens, then the market makers will change direction and become Bearish as Bulls and Bears are the same people I.E they are the Market Makers. I have seen this happen twice now with the Crypto market, once in 2017 and another in 2021. As always, we must keep an eye on what BTC/USD is doing. Anyway, this is all just my opinion and i have other strategies in place for if we don’t see sub $0.01 again. I hope this post is helpful.
BINANCE:VETUSD
by entertheroach
7
BTC/USD - Will we see a Death Cross on the Bitcoin 1 week chart?Looking at the BTC/USD 1 week chart, we can see that the 50MA (Yellow Line) is now getting really close to the 200MA (Red Line). A crossover would signal a Death Cross on this 1 week timeframe. Looking at the entire history and available data on this BTC/USD 1 week chart, we can see that the 50MA has never crossed under the 200MA on this 1w timeframe. Note that the 50MA did come very close to crossing under the 200MA around the week of the 30th Nov 2015 but in the end, it didn’t happen. Other notes: BTC is still in a Massive Ichimoku Y-Wave pattern. BTC is also still in a massive Falling Wedge Pattern. BTC is still under all 3 of its major unique Ichimoku Kumo (Cloud) patterns. BTC is still under its Bollinger Bands Middle Band Basis 20 Period SMA. Looking at the Chaikin Money Flow, we can see that we are still in the Distribution Zone traveling slightly upwards but would say more like 'sideways within a range' on this 1 week timeframe. Note that the CMF (Green Line) is still under its Least Squares Moving Average (LSMA) (Blue Line) which is a sign of continued weakness on this 1 week timeframe. Looking at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is still above its Signal Line (Orange Line) but has starting to slope downwards. Note that both the MACD Line and Signal Line are still deep in the Negative Zone under the 0.0 Base Line. Note that the last green histogram had also decreased in size and this weekly one looks like it will also close smaller than the last indicating upwards momentum is weakening on this 1w timeframe. Interesting times and potential opportunities ahead once this World Recession bottoms. I hope this quick chart is helpful.
BITSTAMP:BTCUSD
by entertheroach
1
BTC/USD 1WLooking at the Trend-Base Fib Extension we can see that BTC found some support from its 0.5 Fib Level at $30,329. If this support level fails then the next Fib Levels are 0.618 at $26,100 and 0.786 at $20,077. Looking at the Bollinger Bands, we can see that BTC is still way below its Bollinger Bands Middle Band Basis 20 Period SMA on this 1 week timeframe. Note that at the moment BTC is below its Bollinger Bands Lower Band. Looking at the Least Squares Moving Average (LSMA) we can see that BTC closed a weekly candle below its LSMA. A close below the LSMA is considered a sell signal. A key area of support is the area from around £31,075 to $28,666 as highlighted by the horizontal black lines with yellow shading. Note that BTC has found support from this Support Zone 9 times previous since the 4th Jan 2021. Looking at the Volume Profile Visible Range (VPVR), you can see potential upcoming areas of previous volume interest if the support at around $28,666 and the 0.618 Fib Level at $26,100 both fail. Note that for the timeframe starting Sept 2020 to the present day, BTC is still below its Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range. Note that BTC is still below its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 7 weekly candles i have selected. The Average Directional Index (ADX DI) is indicating a sharp rise in Negative Momentum on this 1 week timeframe with the -DI (Red Line) rising to 30.54 and the +DI (Green Line) dropping to 16.27. Note that the Trend Strength is increasing with the ADX (Orange Line) rising to 17.39 and crossing above its 9 Period EMA (Black Line) which is at 17.37. The Relative Strength Index (RSI) is indicating momentum is downwards at the moment for this 1 week timeframe. Note that the RSI (Purple Line) still has room to drop further before entering the Oversold Zone on this 1 week timeframe. Note that the RSI is still below its 9 Period EMA (Orange Line) indicating negative momentum strength. Looking at the Chaikin Money Flow (CMF) we can see that the CMF line (Green Line) is still under the 0.0 Basel Line in the Distribution Zone and has been since the week of the 21st Feb 2022 on this 1 week timeframe. Note that the CMF (Green Line) is also below its Least Squares Moving Average (LSMA) indicating strength for distribution. If we use the area from around $31,075 to $28,666 as our base and the Descending Trend-line then we can clearly see that BTC is also in a Descending Triangle Pattern on this 1 week timeframe. In any case, if the support area fails then there will be some good opportunities to acquire BTC or your crypto of choice at a bargain price before the next bull cycle upwards. Never say never. I hope this quick and dirty post is helpful with your trading and hodl-ing.
BITSTAMP:BTCUSD
by entertheroach
BTC/USD updateLet’s have a look at BTC/USD using as many indicators as i can. The purpose of my post as always is not price predication but more education on what these various indicators and squiggly lines are indicating. As you can see on this Bitstamp 1d chart, BTC is in a Descending Triangle Pattern ‘potentially a Bearish Continuation’ as well as a Falling Wedge Pattern ‘potentially a Bullish Reversal’ on this 1d timeframe. If we look at the Schiff Pitchfork Pattern (A,B,C) we can see that BTC is still below the Schiff Pitchfork Median Line. BTC is still above its Lower Yellow Schiff Pitchfork Support Line, a close below this level will possibly result in BTC revisiting its previous low of around $39,580, a close below that will take BTC down to its 50% Trend-Based Fib Extension level at around $38,536. At the moment BTC is fighting to get back above its 38.2% Trend-Based Fib Extension Level. BTC is still below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. Note that the Middle, Upper and Lower Bands are all sloping downwards and we have slight expansion of the Lower Band. BTC is getting really close to to testing its Least Squares Moving Average (LSMA) as support on this 1d timeframe. If BTC closes a daily candle below the LSMA then that is potentially a sell signal. Looking at the Ichimoku Cloud with the 20,60,120,30 settings: The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the Mid Point of the Short-Term momentum is sideways at the moment. The Ichimoku Cloud Base Line (Kijun Sen) is indicating that the Mid Point of the Mid-Term momentum is sideways at the moment. The Ichimoku Cloud Lagging Span (Chikou Span) is indicating that the momentum at the moment is downwards. Note that the Lagging Span (Chikou Span) is still under the price from 30 Periods ago, this is not good a good sign. BTC is still well within the Bearish Zone of the Ichimoku Cloud, note that the Leading Span A (Senkou Span A) resistance level is pointing downwards further confirming nagative momentum. We should expect even more of a drop if the Leading Span B (Senkou Span B) starts to point downwards in parallel with the Leading Span A (Senkou Span A). Let’s take a look at 4 different Momentum Indicators and see what each are telling us on this 1d timeframe. Looking at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is pointing slightly downwards at the moment indicating slight Negative Momentum. The MACD Line (Blue Line) is still above its Signal Line (Orange Line) but it is still in the Negative Zone under the 0.0 Base Line and note that the Green Histograms are getting lighter and decreasing in size. If the MACD Line (Blue Line) crosses back under the Signal Line (Orange Line) then that will be a sell signal on this 1d timeframe. Note that the MACD Line (Blue Line) has not been in the Positive Zone above the 0.0 Base Line since 18th Nov 2021. Looking at the Average Directional Index (ADX DI) we can see that Negative Momentum is still strong with the -DI (Red Line) at 27.83 and it is still above its +DI (Green Line) which has dropped to 12.05. Note that the Trend Strength is increasing with the ADX (Orange Line) rising to 36.88 and it is still above its 9 Period EMA (Black Line) which is at 36.55. Note that the +DI (Green Line) has not been above the -DI (Red Line) since 15th Nov 2021. Looking at the Chaikin Money Flow (CMF) we can see that accumulation has actually increased with the CMF (Green Line) rising up from -0.24 on the 5h Jan to 0.01 just above the 0.0 Base Line. Note that the CMF (Green Line) is still above its 9 Period EMA (Cyan Line) indicating accumulation strength on this 1d timeframe. Note that the CMF (Green Line) has popped out of the Negative Zone at the moment, note that the CMF has not closed in the Accumulation Zone above the 0.0 Base Line since 24th Dec 2021. Look for a successful daily close above the 0.0 Base Line If we look at the Elder Force Index (EFI) we can clearly see that the Bears are still in control because the EFI Line (Red Line) is still under the 0 Base Line indicating a Negative Elder Force. Note that the EFI Line (Red Line) is also starting to point downwards. If the EFI Line (Red Line) crosses back below its 9 Period EMA (Cyan Line) then that may see continued and faster negative momentum for BTC on this 1d timeframe. Note that the EFI Line (Red Line) has not produced a strong Positive Elder Force signal since 15th Nov 2021. Here is a closer look at this Bitstamp 1d BTC chart: So what does all this tell me for the medium to longterm, it tells me that for the medium to longterm unless BTC starts CLOSING daily candles ABOVE key levels like the Bollinger Bands Middle Band Basis and the Schiff Pitchfork Median Line on this 1d timeframe then we will see continued downwards momentum at worst or sideways momentum within a range at best. The LSMA is a key indicator to watch on this 1d timeframe, just trace back on the chart to see what may happen when the price successfully closes ABOVE or BELOW the LSMA indicator. I hope this post helpful with your understanding of what the above indictors are indicating and i hope this is helpful with your Trading and Hodl-ing.
BITSTAMP:BTCUSD
by entertheroach
8
VET/USD - updateVET an in-depth 1day chart analysis: If you look at my previous 3 VET charts and press play, you can see that VET has dropped out of its Symmetrical Triangle Pattern on the 1d timeframe. VET is still below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. Not that the Middle Band is moving downwards and so is the Upper and Lower Bands. VET is testing its Descending Pitchfork Pattern Median Line, if VET drops below this line the we can expect VET to drop to $0.068 again. Note that VET is still above its Least Squares Moving Average (LSMA) level at the moment. The LSMA Level is near the Pitchfork Median Line so if VET drops below the Pitchfork Median Line then it may also drop below the LSMA as this area is a crucial support. Note that if VET CLOSES a daily candle BELOW the LSMA then that will be considered a sell signal on this 1d timeframe for this indicator. Note that VET is also in a Descending Triangle Pattern on this 1d timeframe. Note that a Descending triangle Pattern is a potentially a Bearish Pattern. For your viewing pleasure i have added various Support and Resistance Lines as well as a few Support and Resistance Areas. Volume is still very low on this Binance 1d chart and note that VET has not closed a daily Volume Bar above its Volume 20 Period Moving Average since the 10th Jan and note that that Volume Bar closed n the red. VET is fighting to stay above its Volume Profile Fixed Range Point of Control (VPVR POC) for the Fixed Range of 8x daily candle s that i have selected. VET is also under its Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range. If we look at the Average Directional Index (ADX DI) we can see that Negative Momentum has increased with the -D (Red Line) rising to 17.64 and Positive Momentum has decreased with the +DI (Green Line) dropping to 13.96. Not that the Trend Strength is very weak with the ADX (Orange Line) at 15.21 and still under its 9 Period EMA (White Line) which is at 17.73. Note that the ADX (Orange Line) is still under the 20 Threshold. If we look at the Stochastic Indicator (STOCH) we can see that Momentum is downwards at the moment and note that the %K (Blue Line) is still below its %D (Orange Line) on this 1d timeframe. If VET drops below its Pitchfork Median Line and LSMA then we will see the %K (Blue Line) enter back into the Oversold Zone agin on this 1d timeframe. If we look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is indicating momentum is sideways for this indicator and note that the MACD Line (Blue Line) is still above its Signal Line (Orange Line). Note that Upwards momentum has weakened because today’s MACD Histogram Bar has decreased in size and has lightened. Note that the MACD Line (Blue Lien) is still in the Negative Zone under the 0.0 Base Line and has not been in the Positive Zone above the 0.0 Base Line since the 21st Nov 2021. If we look at the Chaikin Money Flow (CMF) we can see that the CMF (Green Line) is still under the 0.0 Base Line in the Distribution Zone. However the CMF (Green Line) is pointing upwards indicating that Accumulation is increasing and this is confirmed by the CMF (Green Line) being above its Least Squares Moving Average (LSMA) (Cyan Line) which is a sign of accumulation strength. For accumulation strength to be sustainable, we need the CMF (Green Line) to eventually cross back above the 0.0 Base Line back into the Accumulation Zone on this 1d timeframe. At the moment VET is fully under the control of BTC and in what direction BTC goes in. As you can clearly see from this Binance daily chart, Volume is still very VERY LOW for VET as well as for the overall crypto market in general. As we can see, the Market Makers are focusing on other select cryptos at the moment like ADA, but that rise is also being slowed because of BTC’s drop and control of the market. Overall there seems to be a lack of Market Maker Liquidity being traded at the moment. There is a lot of talk about VET rising BUT any rise NEEDS to be backed up by INCREASING LARGE VOLUME to remain sustainable for the longterm. I would not get excited until Volume Increased and VET crosses above and more importantly CLOSES a daily candle ABOVE the Bollinger Bands Middle Band Basis 20 Period SMA and successfully ret-test it as support on this 1d timeframe. So overall there may be some more really good opportunities to acquire more VET at a much cheaper price. I hope this is helpful with your Trading and Hodl-ng. NOTES: LSMA = Yellow Squiggly Line on chart Bollinger Bands = Grey Bands on Chart VPFR POC = Short Horizontal White Dashed Line on Chart VPVR POC = Long Horizontal White Dashed Line on Chart Support and Resistance Areas = Parallel White Lines with Yellow Shading on Chart Volume Bars = Red and Green Bars bottom on Chart Volume MA = Orange Line going through Volume Bars on Chart Pitchfork Median Line = Long Descending Thin White Dashed Line on Chart
BINANCE:VETUSD
by entertheroach
2
BTC/USD updateI have added a Schiff Pitchfork Pattern (A,B,C) to this 1d timeframe. As you can clearly see, BTC tested the Schiff Pitchfork Median Line 7x as support and then that support failed on the 8th time and BTC has closed well below its Schiff Pitchfork Median Line. At the moment, BTC has found some support from its support area highlighted with White Dotted Lines with Yellow Shading. Note that BTC bounced off this support yesterday and today. BTC is below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. Note that we have expansion of the Upper and Lower Bollinger Bands and this expansion is for negative momentum. BTC is below its Least Squares Moving Average (LSMA) for this 1d timeframe. A successful close below the LSMA indicator is considered a sell signal on this indicator and a close above is a buy signal. Note that BTC has not closed a daily candle above its LSMA since the 27th Dec 2021. At the moment of typing this, BTC is trying to stay above the Neckline of the Head and Shoulders Pattern that it is in. Expect further downwards momentum if BTC closes a daily candle below the H&S Neckline. Note that Volume has increased and that the last 2 Daily Volume Bars have closed above its Volume 20 Period MA and today’s volume bar will also close above it. I have added a Trend-Based Fib Extension, you can see that BTC is broken way below its 23.60% level so if the Support Zone fails the next level will be the 38.20% level. Note that a 100% retracement would take BTC to $24,947. If we look at the Moving Average Convergence Divergence (MACD) we can see that we have had a SELL SIGNAL on this 1d chart as you can clearly see that the MACD Line (Blue Line) has crossed back under the Signal Line (Orange Line). The MACD Line (Blue Line) is indicating momentum is still downwards on this 1d timeframe. Note that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Base Line on this 1d timeframe. Note that the MACD Line (Blue Line) has not been in the Positive Zone above the 0.0 Base Line since 18th Nov 2021 on this 1d timeframe. If we look at the Average Directional Index (ADX DI) we can see that Negative Momentum has dramatically increased with the -DI (Red Line) dropping slightly to 30.47. Positive Momentum has dramatically decreased with the +DI (Green Line) dropping to 10.93. Note that the Trend Strength has increased in strength with the ADX (Orange Line) at 32.60 and is back above its 9 Period EMA (White Line) which is at 31.31. Note that the +DI (Green Line) has not been above the -DI (Red Line) since the 15th Nov 2021 on this 1d timeframe. If we look at the Chaikin Money Flow (CMF) we can see that the CMF Line (Green Line) is under the 0 Base Line and in the Distribution Zone. Note that the CMF (Green Line) has not been in the Accumulation Zone above the 0 Base Line since the 24th December 2021. Note that the CMF (Green Line) has risen but is still below its Least Squares Moving Average (LSMA) (Cyan Line) which is a sign of positive weakness on this 1d timeframe. Be on the lookout for when the CMF (Green Line) successfully crosses above the LSMA (Cyan Line) on this 1d timeframe. If we take a look at the Stochastic Indicator (STOCH) we can see that the %K (Blue Line) is still in the Oversold Zone and has crossed back back above the %D (Orange Line). The STOCH is indicating that momentum at the moment is downwards and note that the %K (Blue Line) is starting to look like it may cross back under the %D (Orange Line) on this 1d timeframe. Here is a closer Look at this BTC 1d chart. So what does all this mean to me? If i was waiting to go LONG then i would not get excited until i start to see the MACD Line (Blue Line) move upwards back towards the Signal Line (Orange Line) indicating a potential Buy Signal might be happening. For the LONGTERM, be on the lookout for if/when the +DI (Green Line) crosses back above the -DI (Red Line) on the ADX DI, as well as the CMF (Green line) crossing back above the 0 Base Line into the Accumulation Zone of the CMF indicator on this 1d timeframe. We need BTC to eventually cross above and more importantly CLOSE a daily candle above the Bollinger Bands Middle Band Basis 20 Period SMA and the LSMA on this 1d timeframe. If this happens, be on the lookout for any successful re-test of any previous resistance levels as support. I hope this is helpful with your Trading and Hold-ing.
BITSTAMP:BTCUSD
by entertheroach
5
BTC - Let's have a look at the Weekly ChartBTC - let’s have a look at the 1 week chart for a change: Note that BTC is still above its 50MA for this 1W timeframe. BTC is still above its Bollinger Bands Middle Band Basis 20 Period SMA on this 1W timeframe. Note that the Upper and Lower Bollinger Bands are looking very close to expanding, at the moment, if they do expand, this would be expansion for the downside. BTC is still in its longterm upwards Pitchfork Pattern (A,B,C). Note that BTC has found some support from its Pitchfork Median Line. A weekly CLOSE ABOVE this level is crucial if you are waiting to go LONG. A CLOSE BELOW this level will be great if you are waiting to go SHORT. The week hasn’t finished yet but its very likely that BTC will close this weekly candle as a massive Bearish Engulfing Candle. Note that it is a very similar looking candle to the week of 10th May which, if true, may lead to further drops. BTC is still above its Least Squares Moving Average (LSMA) level on this 1W timeframe. BTC is back below its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 8 weekly candles that i have selected. It is very crucial that BTC CLOSES a weekly candle ABOVE this POC. Note that Volume is still relatively low and note that the Volume Bars have not been above its Volume 20 Period MA since the week of the 17th May. I have added the crucial support and resistance areas on this weekly chart, you can clearly see that BTC is sandwiched in between a rock and a hard place. The Average Directional Index (ADX DI) is indicating the overall trend strength has weakened dramatically on this 1W timeframe. The ADX (Orange Line) has dropped to 27.18 and is below its 9 Period EMA (Black Line) which is at 34.01. The +DI (Green Line) is at 19.82 and the -DI (Red Line) is at 18.80. At the moment, Positive Momentum is still dominant on this 1W timeframe, but note that the +DI (Green line) is pointing downwards and the -DI (Red Line) is pointing upwards, this indicates we may see Negative Momentum become dominant on this 1W timeframe if the +DI (Green Line) crosses back UNDER the -DI (Red Line). The Chaikin Money Flow (CMF) is actually indicating that BTC is still being Accumulated with the CMF (Green Line) in the accumulation zone at 0.12. Note that we have accumulation strength because the CMF (Green Line) is still above its Least Squares Moving Average (LSMA) which is at -0.01 for this 1W timeframe. The Relative Strength Index (RSI) is indicating momentum is downwards on this 1W timeframe at the moment. Note that the RSI (Purple Line) has crossed back UNDER its 9 Period EMA (Orange Line) which is a sign of strong Negative Momentum on the 1W timeframe. The Moving Average Convergence Divergence (MACD) is crucial to watch because if you are LONG then you don't want the MACD Line (Blue Line) to cross back UNDER the Signal Line (Orange Line) for this 1W timeframe. Note that the MACD Line (Blue Line) is still above the Signal Line (Orange Line) and is also still in the positive zone for this 1W timeframe. For this 1W timeframe, the support area at $42,721 - $40,670 is absolutely crucial to CLOSE a weekly candle ABOVE. Note that this level also has the Pitchfork Median Line running through it as well as the Bollinger Bands Middle Band Basis 20 period SMA. If those levels fail as support then BTC will head to the LSMA and then 50MA level. If we do get an influx of upwards momentum, we STILL need to keep an eye on how this weekly candle CLOSES, because the Bearish Engulfing Candle could become a potential Hanging Man Candle, which would be potentially more devastating. Note that CONFIRMATION on what candle this weekly candle becomes and what direction, will be CONFIRMED on how the NEXT weekly candle ends. As with everything, depending on what timeframe you are in be it short-term, mid-term or longterm, confirmation is key. It should be a very interesting couple of days. I hope this is helpful with your trading and hodl-ing. Notes for those who don’t know: LSMA = Black Squiggly Line on chart 50MA = Blue Squiggly Line on Chart Bollinger Bands = Grey Bands on Chart Pitchfork Pattern = A,B,C Pattern on Chart VPFR POC = Short Horizontal Red Line on Chart Volume Bar = Bottom of Chart Volume 20 Period MA = Orange Line Going through volume Bars on Chart Support & Resistance Areas = Horizontal Parallel Black Lines with Yellow Shading on Chart
BITSTAMP:BTCUSD
by entertheroach
4
VeChain - 4hr Chart UpdateVeChain 4hr Chart Update As usual with the massive Longs Liquidation yesterday, our beloved VeChain got hit with one of the worst drops compared to other assets, basically erasing all the gains from 31st August. More on this later. VET is still within its upwards Pitchfork Pattern (A,B,C), it actually dropped all the way to its lower blue support line and bounced back up. VET eventually needs to make it back ABOVE the Pitchfork Median Line. VET is below its 50EMA on this 4hr timeframe. VET is below its 200EMA for this 4hr timeframe. At the moment of typing this, VET has found some resistance from its Least Squares Moving Average (LSMA) Level. We need a successful 4hr candle CLOSE ABOVE this level for continued upwards momentum. VET is way below its Bollinger Bands Middle Band Basis 20 Period SMA, we have had massive expansion of the Upper and Lower Bands but note that the Upper Band is starting to point downwards and the Lower Band is starting to curve around indicating we may see some consolidation and reduce volatility. VET is still above the Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range. VET is back above its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed range of 10x 4hr Candles that i have selected. We have seen increased Volume on this 4hr timeframe and note that the last 2 4hr Volume Bars have closed green and above its Volume 20 Period MA. The Average Directional Index (ADX DI) is indicating the trend strength is strong with the ADX (Orange Line) at 45.40 above its 9 Period EMA (Black Line) which is at 40.72. Note that the +DI (Green Line) is pointing upwards at 9.94 and the -DI (Red Line) is pointing downwards at 37.29. This tells me that while Negative Momentum is strong, it has lost some momentum and Positive Momentum is starting to increase. We need the +DI (Green Line) to cross back over and ABOVE the -DI (Red Line) for renewed positive upwards momentum strength. The Chaikin Money Flow (CMF) is indicating that VET is back in the Accumulation Zone. Note that the CMF (Green Line) is below its Least Squares Moving Average (LSMA) which shows a lack of accumulation strength. We need the CMF (Green line) to cross back ABOVE the LSMA (Blue Line) for renewed upwards momentum. I got asked yesterday, “why does VeChain suffer the most when Binance Futures gets liquidated? is it because of weak hands?” It’s nothing to do with weak hands, from my opinion VeChain suffers because it doesn’t yet have the liquidity cushion of other exchanges like Coinbase, Bitstamp, Kraken and many other major exchanges that BTC, ETH and ADA have to help cushion any major drop, so when Binance Longs gets gutted by Binance themselves, VET suffers greatly. This is just my opinion, but it actually makes sense, so it's probably true ;-). Hopefully after the release of POA2.0, we’ll see VeChain and VTHO added onto some of other major exchanges increasing liquidity. I hope this is helpful with your Trading and Hodl-ing. Notes for those who don’t know: LSMA = Black Squiggly Line on chart 50MA = Yellow Squiggly Line on Chart 200MA = Red Squiggly Line on Chart Bollinger Bands = Green Bands on Chart Pitchfork = A,B,C Pattern on Chart VPVR POC = Long Horizontal Red Line on Chart VPFR POC = Short Horizontal Red Line on Chart Volume Bar = Bottom of Chart Volume 20 Period MA = Orange Line Going through Volume Bars
BINANCE:VETUSD
by entertheroach
1
VeChain - Keep an eye on key levelsVeChain analysis: VET is back above its 50EMA for this 1D timeframe. VET is still above its Bollinger Bands Middle Band Basis 20 Period SMA. Note that VET is still walking upwards on the inside of the Upper Bollinger Band. VET has found some resistance from its Pitchfork Median Line. If you are Long and waiting for confirmation then a close and successful retest of the Pitchfork Median Line as support is crucial for you. VET is above its Volume Profile Visible Range (VPVR) Point of Control (POC) for this charts visible range. VET is below its Volume Profile Fixed Range (VPFR) Point of Control (POC) for this charts fixed range that i have selected. Note that VET has closed 3 volume bars in the green but they have all been below the Volume 20 Period Moving Average. The Moving Average Convergence Divergence (MACD) is showing strong positive momentum and the MACD Line (Blue Line) is now in the positive zone. The Average Directional Index (ADX DI) is showing a strong trend with the ADX (Yellow Line) at 29.89 above its 9 Period EMA (White Line) which is at 29.25. the +DI (Green line) has increased to 22.95 and the -DI (Red Line) has dropped to 9.85, this indicates an increasing in Positive momentum while a decrease in Negative Momentum. The Chaikin Money Flow (CMF) is indicating that the CMF (Green Line) is now back above the Zero Line & back in the Accumulation Zone at 0.02. Note that the CMF (Green line) is way above its Least Squares Moving Average (LSMA) which is at -0.07. The Relative Strength Index (RSI) is showing strong upwards momentum, note that the RSI (Purple Line) is still safely above its 9 Period EMA (Yellow Line) and note that the RSI still has room to move up before entering the Overbought Zone on this 1D timeframe. So if you are waiting to go long on VET, a break above the Pitchfork Median Line and successful re-test of that level as support is crucial for you. If VET cannot make it back above the Pitchfork median Line then it could drop back to its Bollinger Bands Middle Band Basis 20 Period SMA as potential support, and as always, we need to keep an eye on what BTC is doing. I hope this is helpful with your trading and hold-ing.
BINANCE:VETUSD
by entertheroach
3
BTC - Let's see how this daily candle endsBTC has had a successful breakout and retest off its sideways channel resistance as support but its still best to wait to see where this daily candle closes and how. Note that we may have a potential Hanging Man Candle pattern on this daily chart so its best to keep an eye on how this daily candle ends and also how tomorrows candle begins and ends for confirmation of any bearish reversal. BTC is above its daily 50EMA as well as still safely above its Weekly 50EMA. BTC is still above the Bollinger Bands Middle Band Basis 20 Period SMA. Note that BTC is back under the Upper Band. Note the expansion on the Upper and Lower Bands. BTC is still above its Volume Profile Visible Range (VPVR) Point of Control (POC) for this charts visible range. BTC is still above its Volume Profile Fixed Range (VPFR) Point of Control (POC) for this charts fixed range i have selected. Note that yesterday’s Volume Bar ended above its Volume 20 Period Moving Average. Note that BTC is still above its Pitchfork Median Line. The Moving Average Convergence Divergence (MACD) is showing strong upwards momentum. Note that todays histogram has lightened and decreased in size which is to be expected. Note that the MACD Line (Blue Line) is still safely above the Signal Line (Orange Line). The Average Directional Index (ADX DI) is indicating a strong trend with the ADX (Yellow Line) at 31.97 and still above its 9 Period EMA (White Line) which is at 28.22. The +DI (Green Line) is at 33.56 and showing that positive momentum is sideways within a range. The -DI (Red Line) has dropped to 10.22 indicating a weakening of negative momentum for this 1D timeframe. The Chaikin Money Flow (CMF) is showing strong accumulation with a rise from 0.17 to 0.23 with a drop to 0.22. Note that the CMF (Green Line) is still way above its Least Squares Moving Average (LSMA) which is at 0.12. The Relative Strength Index (RSI) is in the Overbought zone for this 1D timeframe. Note that because the RSI (Purple Line) is in the Overbought Zone that doesn’t necessarily mean that the RSI will drop downwards as the RSI can range sideways in the Overbought Zone. We have to keep an eye on how this Daily Candle ends because at the moment this daily candle could possibly turn out to be a Hanging Man Candle Pattern which is a potential bearish reversal pattern. This might become a possibility especially because the RSI in the Overbought Zone and the Bollinger Bands have had quite a big expansion so there is plenty of room for some significant retraction. So if you are Long, its best to wait for confirmation of a bearish reversal or continued upwards or sideways momentum. I hope this is helpful with your trading and hodl-ing.
BITSTAMP:BTCUSD
by entertheroach
1
BTC - Be prepared to adapt to different scenariosBTC Daily Chart Analysis: (Unbiased & just telling it how it is) BTC is still ranging sideways within its massive sideways channel. Note that even if BTC drops back down to $30K, it will still be considered ranging sideways so you should be prepared for this because it will become more of a possibility especially if BTC continues failing to break ABOVE and more importantly CLOSE a daily candle ABOVE its Sideways Channel Resistance. BTC has found strong resistance from its 2 resistance levels. BTC has found some support from around its $38,355 support line area. BTC is sill above its Volume Profile Visible Range (VPVR) Point of Control (POC) for this charts visible range. IMPORTANT: Since the big volume spike on the 26th July, Daily Volume has been DECREASING and note that the yesterday’s Volume Bar closed BELOW its Volume 20 Period Moving Average. We shouldn’t have been shocked by today’s drop, it was inevitable because you can clearly see the Divergence between the previous 4 days Candles and the Volume Bars because it was indicating a rising Price but diminishing Volume. Note that BTC is still safely above its WEEKLY 50EMA. BTC is still above its Bollinger Bands Middle Band Basis 20 Period SMA. Note that the Upper and Lower Bands have started to curve sideways and that this daily Candle is now back inside the Upper Band. Decreasing volatility is to be expected especially after the last few days of increased volatility. The Moving Average Convergence Divergence (MACD) is indicating upwards momentum is weakening with the MACD Line (Blue Line) curving slightly sideways and notice the green histogram has lightened and decreased in height which is a sign of weakening upwards momentum. The day isn’t over yet so this may change. A very bad sign for longs on the daily will be if the MACD Line (Blue Line) crosses back Under the Signal Line (Orange Line) which would be a major sell signal for most traders. The Average Directional Index (ADX DI) is indicating Positive Momentum has dropped with the +DI (Green Line) dropping to 31.67, note we also have increasing Negative Momentum with the -DI (Red Line) moving up to 14.62. The ADX (Yellow Line) is starting to curve sideways at 29.17 and the 9 Period EMA (White Line) is pointing upwards at 27.06 so if the 9 Period EMA (White Line) crosses back above the ADX (Yellow Line) then we may see a continued weakening of trend strength on this 1D timeframe. The Chaikin money Flow (CMF) is indicating accumulation has dropped slightly with the CMF (Green Line) dropping to 0.16. The CMF (Green Line) is still above its Least Squares Moving Average (LSMA) (Blue Line) which is at 0.08. You do to want the CMF (Green Line) to cross under the LSMA (Blue Line) on this 1D timeframe. The Relative Strength Index (RSI) is indicating a big increase in downwards momentum and the RSI (Purple Line) has dropped out of the Overbought Zone for this 1D timeframe. We can expect more downwards trajectory if the RSI (Purple Line) crosses below the 9 Period EMA (Yellow Line) which will be further confirmation of increasing downwards strength on this 1D timeframe. Potential scenarios if BTC continues failing to CLOSE a Daily Candle ABOVE its Sideways Channel Resistance: 1: BTC drops back to its Bollinger Bands Middle Band 20 Period SMA level as potential support. 2: BTC drops back to its WEEKLY 50EMA level as potential support. 3: BTC drops right back to its Sideways Channel Support at around $31K - $29K levels as potential support. 4: BTC continues to flop around $40,951 - $36,970 ranges. 5: BTC continues to flop around $40,951 - $38,355 ranges. Obviously this is all my opinion and BTC could be at $64K by tomorrow lunch time ;-) but NOT if it continues failing to CLOSE a daily candle ABOVE its sideways channel resistance ;-) I hope this is helpful with your trading and hodl-ing.
BITSTAMP:BTCUSD
by entertheroach
1
ADA - Let's have a look at the 4hr chartADA 4hr chart: ADA is above its 50EMA for this 4hr timeframe. ADA is back above its Bollinger Bands Middle Band Basis 20 Period SMA. ADA is still above its ascending support line. ADA is above its Volume Profile Visible Range (VPVR) Point of Control (POC) for this charts visible range. ADA is above its Volume Profile Fixed Range (VPFR) Point of Control (POC) for this charts fixed range i have selected. Volume has been increasing and note that the Volume Bars have been above the Volume 20 Period Moving Average for the last 6x 4hr Bars. The Moving Average Convergence Divergence (MACD) is indicating we may see the MACD Line (Blue Line) may cross back above the Signal Line (Orange Line) which would be a potential buy signal for most traders who use this indicator. Note that the Red Histograms have turned lighter and are decreasing in size. The Chaikin Money Flow (CMF) is showing a sharp rise in accumulation with the CMF (Green line) rising to 0.10, back in the accumulation zone and back above its Least Squares Moving Average (LSMA) (Blue Line) which is at 0.02. Note that the CMF (Green Line) has dipped a bit on the start of this new 4hr candle. The Average Directional index (ADX DI) is indicating Positive Momentum is sideways with the +DI (Green Line) at 27.65 and way above the -DI (Red Line) which has dropped to 15.18. The ADX (Yellow Line) is at 28.56 but still below its 9 Period EMA (White Line) which is at 29.44. Note that the ADX (Yellow Line) is starting to curve upwards so we may see the ADX (Yellow Line) eventually cross back above the 9 Period EMA (White Line) which would be a sign of good upwards trend strength if the +DI (Green Line) stays above the -DI (Red Line). The Relative Strength Index (RSI) is indicating upwards momentum has increased with the RSI (Purple Line) back above its 9 Period EMA (Yellow Line). Note that at the moment of typing this, the RSI has dipped slightly indicating a weakening of upwards momentum. All in all ADA is looking quite strong on this 4hr chart and looks even better on the Daily and Weekly charts. Obviously we need to keep an eye on what BTC is doing and whether or not BTC can successfully break upwards from its sideways channel. If the MACD Line (Blue Line) crosses back above the Signal Line (Orange Line) then we should see increased upwards momentum. Again my charts are not price prediction charts but more educational explaining what the indicators i have selected are actually indicating so i hope this is helpful with your Trading and Hold-ing.
BINANCE:ADAUSD
by entertheroach
2
VTHO - what's going on the 4hr chartA quick look at the VeChainThor (VTHO) 4hr Chart: VTHO is still above is 50EMA for this 4hr timeframe. VTHO is still above its Bollinger Bands Middle Band Basis 20 Period SMA. VTHO had shot up outside its Bollinger Bands Middle Upper Band but has now re-traced back below the Upper Band. Overall Volume has increased and note that the last 6 Volume Bars have been above the Volume 20 Period Moving average on this 4hr timeframe. At the moment VTHO is back above this charts Volume Profile Visible Range (VPVR) Point of Control (POC) for this charts visible range I’ve selected. At the moment VTHO is above this charts Volume Profile Fixed Range (VPFR) Point of Control (POC) for this charts fixed range I’ve selected. Ideally we need VTHO to close this 4hr candle above its 2nd resistance line. The Moving Average Convergence Divergence (MACD) is indication a sharp rise in positive momentum and note that the MACD Line (Blue Line) is in the positive zone and back above its Signal Line (Orange Line). Note that this 4hr histogram bar has decreased in size and has gone lighter indicating a weakening of upwards momentum for this 4hr timeframe. The Average Directional index (ADX DI) is showing Positive momentum has dropped but is still strong with the +DI (Green Line) at 43.23 and still above its -DI (Red Line) which has dropped to 5.74. The ADX (Yellow Line) is indicating a string trend at 35.56 and above its 9 Period EMA (White Line) which is at 26.77. We do not want the +DI (Green Line) to cross back under the -DI (Red Line) on this 4hr timeframe. The Chaikin Money Flow (CMF) is showing that accumulation has dropped slightly to 0.09 but note that the CMF (Green Line) is still above its Least Squares Moving Average (LSMA) (Blue Line) which is at 0.03. We need the CMF to stay in the accumulation zone for renewed upwards momentum. The Relative Strength Index (RSI) is indicating upwards momentum has dropped and the RSI (Purple Line) has dropped out of the Overbought Zone. Note that at the moment the RSI (Purple Line) has dropped back under its 9 Period EMA (Yellow Line) which is a sign of weakening upwards momentum. So we could see more of a drop before the price starts picking up, especially if BTC doesn't pick up. I thought i’d break it up a bit and do a quick analysis of some of my other crypto holdings, in this case VTHO. I hope this is helpful with your Trading and Hold-ing.
by entertheroach
VeChain - Lets have a look at yaVeChain daily chart update: VeChain had broken upwards through its Falling Wedge Pattern on the 22nd July. VET has broken upwards through its downward trend-line and successfully re-tested it as support 4 days ago. Note that VET had successfully tested its Major Longterm Upwards Trend-line as support twice on the 20th-21st July. As noted on the chart, VeChain may have a new Support Line if VeChain closes this daily candle above it and turns it into support. VET has found some resistance from its 50EMA and has dropped below it. We 110% need to close a daily candle above this crucial level and turn it into strong support on this 1D timeframe. VeChain is above its Bollinger Bands Middle Band Basis 20 Period SMA for this 1D timeframe. VeChain is slightly above its Bollinger Bands Upper band so we may see a drop back under the Upper Band or VET may continue walking upwards on the outside of the Upper BB. Volume has increased and notice that todays volume bar is way above its Volume 20 Period Moving Average. VeChain is back above its Volume Profile Visible Range (VPVR) Point of Control (POC) for this charts visible range that I’ve selected. If VET goes higher, we can expect strong resistance at around. $0.0955 The Moving Average Convergence Divergence (MACD) is showing that the MACD (Blue Line) is still above its Signal Line (Orange Line) and we have Green Histograms of increasing size. We may see the MACD Line (Blue Line) cross back over the 0.0 Level into the positive zone. This would mean that a 12 Period EMA has crossed back over a 26 Period EMA on this 1D timeframe, this would be a very good thing. Note that the MACD Line (Blue Line) has not been in the positive zone above the 0.0 level since 17th May 2021 for this 1D timeframe. The Average Directional Index (ADX DI) is indicating Positive Momentum has finally overtaken Negative Momentum on this 1D timeframe. The +DI (Green Line) is at 24.82 and has crossed over the -DI (Red Line) which is at 15.46. The ADX (Yellow Line) is starting to curve sideways at 28.46 but still below its 9 Period EMA (White Line) which is at 30.13. Note that this is the fist time the +DI (Green Line) has been above the -DI (Red Line) since 11th May 2021 for this 1D timeframe. The Chaikin Money Flow (CMF) is indicating a sharp rise in accumulation with the CMF (Green Line) rising from -0.15 to the Zero Line at 0.0. Note that the CMF (Green Line) is back above its Least Squares Moving Average (LSMA) (Blue Line) which is at -0.13. It's a good sign of accumulation strength when the CMF (Green Line) is above the LSMA (Blue Line). The Relative Strength Index (RSI) is showing a sharp rise in upwards momentum with the RSI (Purple Line) rising to 59.43 from back when it was in the Oversold Zone on the 20th July. Note that the RSI (Purple Line) is back above its 9 Period EMA (Yellow Line) which is at 44.86, this is a good sign of upwards strength. Congrats if you managed to buy VET at $0.056 or near enough. This rise is great but we shouldn’t jump the gun & we obviously need to keep an eye on what BTC is doing and whether or not BTC can break out upwards from its sideways channel. For VeChain, the daily 50EMA is a crucial level to watch. If VeChain fails to close a daily candle above the 50EMA then VeChain may drop back to its Bollinger Bands Middle Band Basis 20 Period SMA, but at the moment it’s looking very promising VET will close above the 50EMA, but again its best to wait for confirmation if your uncertain to go Long. I hope this is helpful with your Trading or Hold-ing
BINANCE:VETUSD
by entertheroach
ADA - 1W ChartADA Longterm Weekly Chart: ADA is still above its Weekly 50EM. ADA is back above its Upper Yellow Pitchfork Resistance Line, ADA needs to close this Weekly Candle above it. ADA has found some resistance from its Bollinger Bands Middle Band Basis 20 Period SMA for this 1W timeframe. Note that the Bollinger Bands Lower Band is starting to curve upwards for this 1W timeframe. Worthy of note is that ADA never got anywhere near its Longterm Upwards Pitchfork Median Line. Note that Weekly Volume is still low and note that the Volume 20 Period Moving Average is also sloping downwards. The Moving Average Convergence Divergence (MACD) is showing that the MACD Line (Blue Line) is still in the positive zone and starting to curve sideways. Note that the MACD Line (Blue Line) is still below its Signal Line (Orange Line). Note that this week’s Red Histogram has decreased in size and has also lightened indicating a weakening of negative momentum for this 1W timeframe at the moment. The Average Directional Index (ADX DI) is indicating Positive Momentum has increased and Negative momentum has decreased. The +DI (Green Line) has risen to 20.29 and the -DI (Red Line) has dropped to 16.32. Note that the ADX (Yellow Line) is at 46.09 starting to curve slightly sideways but is still below its 9 Period EMA (White Line) that is at 56.21. Note that during this downtrend we did not have a +DI (Green line) cross back under the -DI (Red Line) on this 1W timeframe and note that the +DI (Green Line) and -DI (Red Line) are starting to move away from each other on this 1W timeframe. The Chaikin Money Flow (CMF) is indicating accumulation has increased with the CMF (Green line) rising back into the Accumulation Zone to 0.07 and crossing above its Least Squares Moving Average (LSMA) Blue Line) which is at 0.06. The CMF (Green Line) crossing back above the LSMA (Blue line) is a good sign of accumulation strength for this 1W timeframe The bigger the gap between the CMF (Green Line) when its above the LSMA (Blue Line), the better. The Relative Strength Index (RSI) is showing upwards momentum has increased with the RSI rising to 53.07 but note that the RSI (Purple Line) is still below its 9 Period EMA (Yellow Line) which is at 55.87 for this 1W timeframe. This is indicating that positive momentum still has a lot of potential to move up before reaching the Overbought Zone on this 1W timeframe. Looking at ADA on this 1W timeframe, you can clearly see that during the recent downtrend, ADA was one of the least effected cryptos and looking at this 1W chart really put it in perspective. If you are Longterm Long then closing this weekly candle ABOVE the Pitchfork Median Line and back ABOVE the Bollinger Bands Middle Band Basis 20 period SMA will be a very good sign of renewed longterm upwards strength. I hope this is helpful with your trading and hodl-ing.
BINANCE:ADAUSD
by entertheroach
BTC - daily chart updateBTC Daily Chart Update: BTC is back above its Weekly 50EMA. BTC is back above its Bollinger Bands Middle Band Basis 20 Period SMA. At the moment, BTC is above its Bollinger Bands Upper Band so we could see a re-tracement back under the Upper Band or BTC could continue walking up on the outside of the Upper Band. BTC has broken upwards from its Descending Channel and Descending Triangle. BTC is still in its Sideways Channel. BTC is back above its Volume Profile Visible Range (VPVR) Point of Control (POC) for this charts visible range that i have selected. Volume has increased & note that todays Volume Bar is above its Volume 20 Period Moving Average. The Moving Average Convergence Divergence (MACD) is showing that the MACD Line (Blue Line) has crossed back above the Zero threshold, this indicates that a 12 Period EMA has crossed back above a 26 Period EMA on this daily chart. Note that the Green Histograms are increasing in size and that the MACD Line (Blue Line) is still above its Signal Line (Orange Line) for this 1D timeframe. Note that this is the first time that the MACD Line (Blue Line) is back in the positive zone above the 0.0 level since 11th May 2021. The Average Directional Index (ADX DI) is showing that Positive Momentum has overtaken Negative Momentum with the +DI (Green Line) crossing back above the -DI (Red Line). The +DI (Green line) has risen sharply to 35.72 and the -DI (Red Line) dropping to -15.98. The ADX (Yellow Line) is at 24.27 pointing upwards but still below its 9 Period EMA (White Line) at the moment which is at 25.69. Note that this is the first time since 25th March 2021 that the +DI (Green Line) has successfully crossed back ABOVE the -DI (Red Line) for the 1D timeframe. The Chaikin money Flow (CMF) is indicating accumulation has increased with the CMF (Green Line) rising sharply to 0.14 with the CMF (Green Line) back in the Accumulation Zone and back above its Least Squares Moving Average (LSMA) (Blue Line) which is at 0.03. The Relative Strength Index (RSI) is indicating a sharp spike in upwards momentum with the RSI (Purple Line) back above its 9 Period EMA (Yellow Line). Note that the RSI still has a bit more room to move up before entering the Overbought Zone for this daily timeframe. For the longterm, we need BTC to successfully break upwards from its Sideways Channel Resistance and turn that resistance line into strong support. If BTC cannot successfully do that, then BTC with just continue ranging sideways within its massive sideways channel & possibly drop back to its Weekly 50EMA and Bollinger Bands Middle Band Basis 20 Period SMA. I hope this is helpful with your trading and hodl-ing.
BITSTAMP:BTCUSD
by entertheroach
4
BTC - Lets have a look shall weBTC 1D Chart Update: BTC is still Ranging Sideways within its Sideways Channel. Remember that Sideways Ranging is NOT done at a constant level but WITHIN a range of values. Note that BTC has failed to make any recent higher highs over the last couple of days. BTC is below its WEEKLY 50EMA. BTC HAS closed 8 Weekly Candles in a row BOVE its Weekly 50EMA. This is a VERY crucial week as BTC needs to close this weekly candle ABOVE its WEEKLY 50EMA. Failure to day so may cause further downwards momentum. BTC is still below its Bollinger Bands Middle Band Basis 20 Period SMA. Note that the Upper and Lower bands are indicating Sideways Volatility but that the Lower Band is curving slight upwards. BTC is in another potential Descending Triangle Pattern. A Descending Triangle Pattern is a potential Bearish Continuation Pattern, so if you are LONG then you need to wait for a successful breakout of the Descending Trend-Line with a successful re-test of that level as strong support. We need to keep an eye on this pattern very carefully. BTC is also in a Descending Channel Pattern. A break above the upper Resistance Line and successful retest of the resistance as support will be confirmation of a potential reversal to the upside, or failure to breakout will, be possible bearish continuation. BTC is still below its Volume Profile Visible Range (VPVR) Point of Control (POC) for this charts visible range that i have selected. Daily Volume is still low and todays Volume Bar is still below its Volume 20 Period Moving Average. Note that yesterdays Volume Bar was slightly above the Volume MA. The Moving Average Convergence Divergence (MACD) is indicating we have had the MACD Line (Blue Line) cross back under the Signal Line (Orange Line) which is a sell signal for most traders that use this indicator. Note we have negative Red Histograms forming. The Average Directional index (ADX DI) is indicating the trend strength is increasing with the ADX (Yellow Line) rising to 26.76 and getting very close to crossing back above its 9 Period EMA (White Line) which is at 27.34. Note that the -DI (Red Line) has actually dropped to 24.82 but is still way above its +DI (Green Line) which is at 12.92. This is showing me that the -DI (Red Line) which is Negative Momentum had dropped quite sharply but the +DI (Green Line) which is Positive Momentum has also dropped. The Chaikin Money Flow (CMF) is indicating a sharp rise in accumulation with the CMF (Green Line) rising from 0.05 to 0.13. note that the CMF (Green Line) is back above its Least Squares Moving Average (LSMA) (Blue Line) which is at 0.08 and tis indicates a rising strength in accumulation. The Relative Strength Index (RSI) is indicating momentum is downwards at the moment. The RSI (Purple Line) is below its 9 Period EMA (Yellow Line) indicating downwards momentum is strong. Note that the RSI (Purple Line) is getting closer to the Oversold Zone. Here is a look at the BTC Weekly Chart. Looking at this chart, you can clearly see that the Weekly 50EMA is VERY crucial level for BTC to continue to close above. This is a VERY crucial week for BTC. BTC needs to CLOSE a WEEKLY Candle back ABOVE the WEEKLY 50EMA. Even though BTC is below the WEEKLY 50EMA, BTC is still Ranging Sideways within its sideways channel. The indicators are telling me that although momentum is downwards, Trading Volume is still relatively low but BTC is still being strongly accumulated. With overall Trading Volume Low, from My perspective this indicates a lack of Big Institutional Money. Remember that Retail money does not move the market, big institutional money does. Note that it is the institutional money that is put in AFTER they have accumulated their asset of choice, that moves the market up, NOT the money used in the accumulation phase. As we’ve seen recently, the Fundamentals for BTC, ADA, VET & most cryptos are truly amazing, but the Technicals are utter crap at the moment unless you’re short selling. Looking at the way the world is going, I have no doubt that soon the technicals will match the fundamentals, in a big way. This should be a very interesting couple of days. I hope his is helpful with your trading and hold-ing.
BITSTAMP:BTCUSD
by entertheroach
3
VeChain - 1D Chart Analysis UpdateVeChain 1D Chart Update: VeChain is still below its Bollinger Bands Middle Band 20 Period SMA. Note that we have expansion of the Upper and Lower Bands indicating increased volatility but on the negative side. VeChain is still following the its Major Downwards Trend-Line and is having real trouble crossing above it. If you are long then a breakout and successful re-test of this level as support is crucial. VeChain is getting very near to its Major Upwards Longterm Trend-Line. We 110% do not want VeChain to close a Daily Candle below this level. VeChain is still on the upper side of its falling wedge pattern. I have added some support areas if VeChain breaks below its Major Longterm Upwards Trend-line. Note that the overall Volume is still low on this daily timeframe and the Volume Bar is still below its Volume 20 Period Moving Average. VeChain is still below its Volume Profile Visible Range (VPVR) Point of Control (POC) for this charts Visible Range I’ve selected. The Moving Average Convergence Divergence (MACD) is indicating trend momentum is sideways but note that it looks like we may see the MACD Line (Blue Line) cross back under the Signal Line (Orange Line) which would be a sell signal for most traders so we may see another downwards drop that would also create Red Histograms indicating sellers are in control. Note that the Green Histograms have also decreased in size indicating a weakening of buying strength. The Average Directional Index (ADX DI) is showing the downtrend has gotten stronger with the ADX (Yellow Line) rising to 28.42 and back above its 9 Period EMA (White Line) which is at 27.22. Note that the -DI (Red Line) has actually dropped sharply to 20.61 but is still below its +DI (Green line) which is at 9.25. So even though the -DI (Red Line) which is Negative momentum has dropped, the +DI (Green Line) which is Positive Momentum is still showing a big lack of upwards strength at the moment, but note it has not dropped as sharply at the -DI (Red Line). The Chaikin Money Flow (CMF) is indicating accumulation has actually increased with the CMF (Green Line) rising from -0.03 to +0.03 in the accumulation zone. Note that the CMF is back above its Least Squares Moving Average (LSMA) (Blue Line) which is at 0.00. The Relative Strength Index (RSI) is indicating momentum is downwards at the moment, The RSI (Purple Line) is below its 9 Period EMA (Yellow Line) indicating strong downwards strength. Note that the RSI is getting very near the Oversold Zone on this 1D timeframe so be on the look out for any divergence between Price and the RSI for potential reversals. From my perspective, at the moment for VeChain and the whole Crypto Market, overall traded Volume is still low indicating a possible lack of big institutional money. Remember that retail money doesn’t move the market, big institutional money does. Note that it is the institutional money that is put in after they have accumulated their assets that moves the market up, not in the accumulation phase. If VeChain breaks downwards through its Major Upwards Support Line and closes a daily candle below it, then there is a possibility VeChain may drop to $0.035. Note that even though Volume is Low, crypto assets are still being accumulated. If you are waiting to go long on VeChain but need confirmation, then a breakout of the Major Downwards Trend-Line and a successful re-test of it as support is what you will need to wait for. After that, another is a breakout and support test of the Bollinger Bands Middle Band Basis 20 Period SMA. If you are Dollar Cost Averaging (DCA) & if VeChain breaks downwards through its Major Longterm Upwards Trend-Line, then there could be really good opportunities to acquire more VeChain at a cheaper price. The Falling Wedge could indicate that we are coming to end of this downwards pressure but we could see a re-test of $0.058 before a potential breakout, but remember that we are at the mercy of BTC so we have to keep an eye on what Bitcoin is doing as any new potential drop with BTC will effect all alts as well. I hope this is helpful with your Trading and Hodl-ing.
BINANCE:VETUSD
by entertheroach
4
ADA - Lets look at the weeklyADA a look at the Longterm weekly chart ADA is back above its Bollinger Bands Middle Band Basis 20 Period SMA on this 1W timeframe. Note that the Lower Band has fully contracted upwards & the direction of the Upper and Lower Bands is now sideways for this 1W timeframe. ADA is well above its 50EMA for this 1W timeframe. ADA is still safely above its Pitchfork (A,B,C) Median Line. Worthy of note is the fact that ADA has NOT closed a Weekly Candle Below its Upper Yellow Pitchfork Support Line for 21 weeks in a row. Notice that Volume is still relatively low for this 1W timeframe with the Volume Bar still below its Volume 20 Period Moving Average. Note that the Volume MA is also dropping because of the drop in weekly volume. The Moving Average Convergence Divergence (MACD) is showing the MACD Line (Blue Line) is still below the Signal Line (Orange Line) and has created 4 Red Histograms so far. Note that the MACD is a momentum and trend indicator so the MACD level can drop with prolonged sideways momentum as we are seeing here. Note that the MACD Line (Blue Line) is still in in the positive zone above the 0.0 Base Line. We do not want the MACD Line to cross under the 0.0 Base Level on this 1W timeframe. If it did do that, it would mean a 12 Period EMA has crossed under a 26 Period EMA on the 1W timeframe which we absolutely do not want to happen, unless your short-selling. The Average Directional Index (ADX DI) is showing the trend strength has dropped with the ADX (Yellow Line) at 55.56 below its 9 Period EMA (White Line) which is at 63.45. The +DI (Green Line) is at 20.39 and still above its -DI (Red Line) which is at 13.91. Note that the +DI (Green Line) and -DI (Red Line) is showing overall positive and negative momentum is sideways with a slight slope to the downside. This is showing me that Positive Momentum is still stronger than Negative Momentum on the 1W timeframe. The Chaikin Money Flow (CMF) is showing that accumulation has dropped with the CMF Line (Green Line) at 0.06 still in the accumulation zone but under its Least Squares Moving Average (LSMA) (Blue Line) which is at 0.14. We do not want the CMF (Green Line) to cross over into the Distribution Zone on the 1W timeframe. The Relative Strength Index (RSI) is indicating momentum is downwards at the moment so i would say “sideways within a range”. Note the RSI (Purple Line) is showing upwards weakness by being below its 9 Period EMA (Yellow Line). Looking at the Ichimoku cloud for this 1W timeframe: ADA is still in the Bullish Zone of the Ichimoku Cloud. ADA is still above its Base Line (Kijun Sen). The Conversion Line (Tenkan Sen) is indicating the mid point of the short-term momentum is upwards. The Base Line (Kijun Sen) is indicating the mid point of the mid-term momentum is sideways. The Lagging Span (Chikou Span) is indicating momentum has a light slope downwards so more like sideways within a range. Note that the Cloud (Kumo) is still Bullish Green for this 1W timeframe. Settings used for the Ichimoku Cloud = 20, 60, 120, 30. So during this downtrend, can ADA drop more…… well yeh of course it’s always a possibility especially if BTC takes another nose dive. But as we have seen during this downtrend, ADA has shown superior recovery strength when compared to most other major crypto assets. With the advent of smart contracts on the horizon and the future prospects of the various Africa deals finally being put in motion, from my perspective, even if you are a BTC or Ethereum maxi, it shouldn’t really matter, so ADA should be in everyones longterm portfolio. Also, if your not actually trading ADA, then just stake it for an easy monthly passive income. From my perspective, the future look extremely bright for ADA. Don’t know why I decided to do this mammoth post, but here it is, so I hope this is helpful with your trading and hold-ing. :-)
BINANCE:ADAUSDLong
by entertheroach
5
A look at the BTC daily chartA look at the BTC daily chart: At the moment of typing this, BTC is still above its WEEKLY 50EMA. During this period of sideways ranging, BTC has yet to close a WEEKLY candle BELOW the WEEKLY 50EMA. Note that the 50MA is potentially starting to curve sideways. At the moment of typing this, BTC is below its Bollinger Bands Middle Band Basis 20 Period SMA. Note that the Upper Band is pointing downwards and the Lower Band is pointing upwards. At the moment of typing this, BTC is just below its Volume Profile Visible Range (VPVR) Point of Control (POC) for this charts visible range. Volume is still relatively low for this 1D timeframe and note that the Volume Bar is still below its Volume 20 period Moving Average. The Moving Average Convergence Divergence (MACD) is showing that the MACD Line (Blue Line) is still above the Signal Line (Orange Line) and is starting to curve sideways creating lighter green Histograms showing a weakening of upwards momentum. If you are waiting for full bullish positive confirmation on the MACD then you would wait until the MACD Line (Blue Line) crosses back above the 0.0 Base Line level, this indicates that a 12 Period EMA has crossed back above a 26 Period EMA on this daily chart. The Average Directional Index (ADX DI) is indicating the trend strength is weakening with the ADX (Yellow Line) dropping to 28.38 & below its 9 Period EMA (White Line) which is at 32.43. The -DI (Red Line) has dropped to 24.41 but is still above its +DI (Green Line) which is at 17.69. If you are waiting for positive confirmation on this indicator then you need the +DI (Green Line) to cross back above the -DI (Red Line) and for the ADX (Yellow Line) to stay above 20 and cross back above its 9 Period EMA (White Line) The Chaikin Money Flow (CMF) is indicating that BTC is still in the accumulation zone, note that the CMF Line (Green Line) has risen from 0.01 to 0.04 and note that the CMF Line (Green Line) looks like its may cross back above its Least Squares Moving Average (LSMA) (Blue Line) which is at 0.04. If BTC drops downwards into the distribution zone, its needs to rebound quickly to avoid longterm distribution. The Relative Strength Index (RSI) is indicating sideways momentum at the moment. Note that the RSI (Purple Line) is showing weakness by being below its 9 Period EMA (Yellow Line). As you can see from this chart, the Weekly 50EMA level is now being tested quite a lot on this daily chart. As stated many times, the WEEKLY 50EMA is a very, very crucial level for BTC to keep closing WEEKLY candles above. So long as BTC keeps closing WEEKLY candles above the WEEKLY 50EMA, then all we will see is sideways ranging until the powers that be, decide that the direction of least resistance is upwards. If BTC does close a WEEKLY candle below the WEEKLY 50EMA then there is a possibility that the powers that be, have decided that the direction of least resistance is downwards. I hope this is helpful with your trading and hodl-ing.
BITSTAMP:BTCUSD
by entertheroach
1
VeChain - Accumulate itQuick VeChain update: We are seeing sideways ranging with VeChain on this 1D timeframe. VeChain is still below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1D timeframe. We need to turn this level into strong support. VeChain is still below its 50EMA for this 1D timeframe. We need to eventually cross this level and turn it into strong support. VeChain is still above its Least Squares Moving Average (LSMA) for this 1D timeframe. Note that when the price crosses above the LSMA, it is positive and was a potential buy signal. Volume is still relatively low for this 1D timeframe. Note that the Volume Bar is below its Volume 20 Period Moving Average. VeChain is still below its Volume Profile Visible Range (VPVR) Point of Control (POC) for this charts visable range. The Moving Average Convergence Divergence (MACD) is indicating momentum is still upwards and the MACD Line (Blue Line) is still above the Signal Line (Orange Line). Note that the Green Histograms has lightened indicating a slight weakening of upwards momentum. A crucial point on the VeChain 1D timeframe will be when then MACD Line (Blue Line) crosses back over the 0.0 line into the positive zone. The Chaikin Money Flow (CMF) is indicating VeChain is in distribution for this 1D timeframe with the CMF Line (Green Line) in the Distribution Zone at -0.04. The CMF is still slightly above its Least Squares Moving Average (LSMA) which is at -0.06. Note that the CMF (Green Line) is starting to point upwards. The question is, is VeChain in a Falling Wedge, a Symmetrical Triangle, a Descending Triangle or All or None of the above on this 1D timeframe. Note the Horizontal Support Line has been tested on 5 separate days and that was our resistance of our previous Ascending Triangle. Ideally, any positive breakout must be on increased volume. The way i see it, we only have a few more weeks “possibly 4-6 for BTC” of continued consolidation within a range before the market makers decide that the path of least resistance is upwards which affects all cryptos. But who knows, it may be sooner. Even if VET dips more, now is the time to buy. What is the point of waiting to accumulate a crypto after if its done a +50% rise? You’ll just end up buying at the top again. So accumulate, accumulate, accumulate VeChain before the next rise……. As well as ADA. I hope this is helpful with your trading and hodl-ing.
BINANCE:VETUSDLong
by entertheroach
11
ADA - Ascending TriangleADA 4hr Chart update: ADA is in the Ichimoku Cloud Equilibrium Zone for this 4hr timeframe. ADA has found some resistance from its Ichimoku Cloud Leading Span B (Senkou Span B) cloud resistance. ADA needs to cross over turn this level into strong support for this 4hr timeframe. ADA is below its Bollinger Bands Middle Band Basis 20 Period SMA for this 4hr timeframe. ADA needs to turn this level into strong support. ADA is below its Volume Profile Visible Range VPVR Point of Control (POC) for this charts visible range. ADA is below its Volume Profile Fixed Range VPFR Point of Control (POC) for the range i have selected. Note that Volume is low for this 4hr period and the Volume Bar is below its Volume 20 Period Moving Average. The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the mid point of the short-term momentum is sideways at the moment. The Ichimoku Cloud Base Line (Kijun Sen) is indicating the mid point of the mid-term momentum is sideways. The Ichimoku Cloud Lagging Span (Chikou Span) is indicating momentum is downwards at the moment. Note that the Lagging Span (Chikou Span) is still above the price from 30 Periods ago. ADA is in an Ascending Triangle Pattern (Dashed Line). If any potential breakout happens to the positive side then we need that breakout to be on strong volume and the Triangle resistance turned into support. The Moving Average Convergence Divergence MACD is indicating that the MACD Line (Blue Line) has crossed back under the Signal Line (Orange Line) which is a potential sell signal and has created a new red histogram. Note that the MACD Line is still in the positive zone above 0.0. The Chaikin Money Flow (CMF) is showing that accumulation has dropped to 0.03 and note that the CMF (Green Line) is below its Least Squares Moving Average (LSMA) which is at 0.09. Note that the CMF is still in the Accumulation Zone. If the Bollinger Bands Middle Band Basis and Conversion Line (Tenkan Sen) cannot be turned into support then we may see another drop for ADA to the Ascending Triangle Upwards Trend-Line (Upwards Dashed Line), in which case there should be some good opportunities to acquire more ADA at slightly lower price if you are Dollar Cost Averaging (DCA). If you are waiting for full bullish confirmation on this 4hr timeframe to buy more ADA, a good sign will be when the Leading Span A (Senkou Span A) crosses back over the Leading Span B (Senkou Span B) creating a Cloud (Kumo) Twist into a new Green Bullish Cloud. I hope this is helpful with your Trading and Hodl-ing.
BINANCE:ADAUSDLong
by entertheroach