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Convergence

ETCUSD Ready for Positive MovementThere are many things happening with ETCUSD which makes now an especially good time to take a look at Ethereum Classic. In lieu of the pending release on Coinbase's main platform, those who've wanted to make their exit have all left, leaving a void ready to be filled by the bulls. This correlates nicely with the recent time cycles that Ethereum Classic has been trading in these past couple months- Ethereum Classic closed its most recent short and long cycles by touching the key 12-13 support range. In tandem, the most recent P&D is showing a strong bullish RSI convergence. RSI is sitting in the slightly bearish zone, however, and this may reverse soon. The Stochastic RSI is approaching zero, setting up a new reversal. ETC is trading along the lower bound of the Bollinger Bands, and is showing a green candle for the day- marking an end to the week long slump. The only indicator which doesn't support a new bull run is the ADX/DI. While the DI- made a crossover, the ADX is riding low. I would consider this to be neutral (a small positive correction would not considerably alter this weak trend). While this is not displayed, ETC has been trading in a downwards channel with a false breakout, however it may breakout soon as it is sitting at this key support range. I expect this bull run to most likely happen within the next 4 days. Due to the strong pressure of the overall bear market, it is not likely to cross the key local resistance around the 18.5-19 range. For those who bought earlier following the Coinbase announcement, this may be a good exit for the short term if bear pressure overcomes the positive sentiment following the Coinbase listing. Good luck to you all!
BITFINEX:ETCUSD
by higgsboson
BTCUSD MONTHLYWe can see 21ema as strong support and resistance on the monthly candle chart. The KD and RSI on KDJ & RSI indicator is not yet at their relative lowest, however, J on KDJ is meeting new lows, which can mean a short term bullish bounce or maybe the start of a slow bullish uptrend. Macd is showing almost maximum convergence, which means we may naturally see some volatility soon when they begin to diverge. Volume has been decreasing all year. High volume will confirm breakout
BITSTAMP:BTCUSD
by Artemizios
EURUSD short term short positionHey, so looks like EURUSD has been overextended on 15min rsi + macd. Pennant forming what seems to be a rising wedge. Volume is dropping off. Waiting for a volume spike. Macd has extended convergence = higher probability of volatile breakout. Green dotted lines are higher high/ higher low support & resistance levels. Arrows represent long and short limit positions. SL would be approx 0.025% on other side of the line. Note that we are getting a bullish hammer candle on Daily.
by Artemizios
Brace for impact - of trendlineConvergence of trendlines - short-term down, long-term up and near-term inverted triangle formation, with former support at 24,640 becoming resistance, combined with low upside volumes, high downside volumes, weak RSI and what appears to be a tech bubble forming are all ominous for sharp retracement to trendline. Expect fibo .68 retrace to near Dow 23,800 before the next leg up. Hope I'm wrong and the upside comes sooner, but it's murky out there now and Donald's making it harder. Fed hike soon!
DJ:DJIShort
by DaddySawbucks
ETHUSD - Gann Fan Study, MACD & MAs vs Vol Suggest Nose DiveIt's kind of late in the week for a mad bull run to blow through all the resistance, so I anticipate this week's slow side track to pop pretty hard. That said, it is obvious that an amazing array supports and resistances are converging no matter how you chart ETH & BTC. Whichever way it is about to go.. it's going to go hard. I'm still pessimistic about chances for a massive recovery right now, I think we're in for at least a few more weeks of bear territory. SAR & PSARS are also indicating a downturn. This chart is on the 1 hour because I'm trying to anticipate when the moment of truth will be. Pretty much the same story on the 4H but more extreme which changes the lines. Note that the lines in the oscillator (not MACD) are copies of each other! Seems to work pretty consistently.
KRAKEN:ETHUSDShort
by lazytrade
LTC... still teeteringIn my last post (LTC: FIbonacci levels are in play Apr 30) I noted that LTC has shown no clear direction up or down but that a recent pattern of price movement does not bode well. I think this is still the case. For context please note that you are looking at candlesticks, each representing one day in a chart whose scope is just over 2 months. From the chart we can see 4 (highlighted by yellow ellipticals) instances where Fibonacci levels served as support; but were subsequently broken to the downside, and six in light blue which have served as resistance. I am concerned we will break below 106 and am not sure if this will happen. LTCs price behavior, like may coins, may depend on that of Bitcoin. I think Bitcoin (and this Litecoin) may be forming a bearish head and shoulder pattern which started in late March. I am basing this observation based on 6-hour candelesticks (not visible in my chart above though it loosely shows a potential H&S). As noted in the chart we must see an extension past the .786 (138) currently serving as resistance per the fifth yellow elliptical. Volume on any such move will also be important because per 5 downward sloping magenta lines at the bottom of the chart we have seen decreases in volume leading to decreases in price and I'm concerned this pattern may repeat itself. The start of Fibonacci (106) has held as we did not dip below 109 in the most recent dip and I'm hoping it will hold in the near future as well.  Even if we extend past the .786 we could still be below the 200 day moving average. Within the current levels as long as we don't dip below 106 an argument can be made for being neutral but the coins position is simply to precarious at the moment for me to be anything but short. Also note the 50 day MA is converging towards the 200 at the point of the sad face thus I see no evidence of upside in the near term. Long term, and potentially in as little as under a month this bear market could be over and we will be headed up but the technicals have to show us evidence of that. If you find this info useful please give this post a thumbs up. Lastly I want to emphasize the importance of studying contrarian views to your own. If you are long any given coin study short opinions and vice-versa, also be flexible and willing to change your mind, be like water.
BITFINEX:LTCUSDShort
by TNasr
Bitcoin Long and short trend convergence indicatorThe long trend lines and short term lines intersect at the same approximate point indicating a bottom buying opportunity. Enhanced by RSI data, this convergence puts us at a hypothetical bottom and will allow for short or long term gains. If I had it, I would buy in at this convergence and look for 30-40% sell opportunities. If RSI data does not support the convergence, re-evaluation will be needed and long term lines redrawn. Data points to an upturn and a possible bull run to at least $10K
BITFINEX:BTCUSD
by jjhotfingers
BTC - If crossed 7200$ we go down if 9200$ crossed we go up Hi Folks. It is pretty nervous these days isn't it? So we will try to show you where we are and why it is not that bad as it looks. Many of you complain about current situation but remember that patience and persistance are as much valued in this game as analysis and reflex. First of all we decided to draw long-term support line. Look at the mid September 2017. The price was around 3000$. Right now around 8000$. Decent return isn’t it? This line shows more organic growth rather than hype. We are nearly there, so only really bad news from the market or some big whale can make the price even lower. Look and the roughest dip lately – 6000$. When it happened, the price returned very quickly to the level of 12000$ (which is very strong resistance). It means 6000$ is very cheap for the market, even though makro surrounding is unstable. Regarding last G20 Summit here is the link with the summary and down below we are listing positive examples of countries (legalizing crypto or going to):https://cointelegraph.com/news/g20-and-cryptocurrencies-baby-steps-towards-regulatory-recommendations Australia Australia is one of the few countries that has actively started building its own cryptocurrency regulations that suit it, without much outward glancing for hints or presidents. For example, the government recently addressed exchange regulations with a mandatory law. Brazil Brazil and its government have seen a lot of potential in Blockchain and to that end have started upping their efforts into research and development of the new technology. Canada Canada is another country that is in a similar boat to that of Australia as they have started the arduous journey of regulating, but in a positive and friendly manner. The Canadian government has given the go ahead to its first ever Blockchain-based Exchange Traded Fund. France As one of the nations looking to open up the dialog on cryptocurrency, France’s stance is clearly geared towards building a regulatory framework that can work globally for a currency that is used globally. Germany Germany are also keen on opening up this dialog, having stated before the G20 suggestion was made, that the only way to control cryptocurrencies would be for international cooperation. Japan Japan made headlines a few years back when it announced that Bitcoin was a legal currency, however, its loose approach to regulation has recently been curtailed as more and more issues have forced regulators to step in. Mexico Mexico will soon be joining the likes of Canada and Australia as countries with active cryptocurrency regulations. The central American nation is just one signature away from regulating cryptocurrency after a law setting out its position passed the lower house. The USA “Do no harm” was unquestionably the right approach to development of the Internet. Similarly, I believe that “do no harm” is the right overarching approach for distributed ledger technology,” J. Christopher Giancarlo, chairman and witness of the CFTC, expressed in front of the Senate this year. Let’s look at the chart and technical analysis: According to Elliot Wave Pattern we may touch level of around 6800$. That level would be identical with the level of organic growth line. We should bounce from this level up up up. If we cross 9000$ it would be strong trend reversal sign. Next very strong resistance at 12 000. It will be difficult to cross it but once we do it we can stay happy and wait for another levels such as 17 000$ and 20 000$. MACD convergence which is very good sign - strong buy signal (light green lines). THIS IS VERY IMPORTANT. Stoch RSI - oversold zone - buy signal SMA 50 & SMA 200 almost at the same level - healthy level achieved. STAY TUNED! DO SHARE YOUR VIEWS WITH US.
BITFINEX:BTCUSDLong
by WBM_Team
2
BTGBTC Good growth is possible.On the graph of BTG, we can observe Bull convergence within 10 days. This may indicate that buyers are waiting for a convenient moment and are ready to go on the offensive. I think that you can buy closer to 0.0071 and with a break above 0.0079 we can hope to reach the level of 0.0099 - 1 goal and level 0.0120 - the second goal. Such a scenario is possible only in the case of the BTC rally for some time. In the event that the BTC falls to new lows, the BTG will also fall. Assess the risks and act according to your trading plan. Good luck to all.
BLong
by DorisKat
ethereum bottom convergence and buy marker revisedI hated making this chart, My emotion kept me redrawing the lines, but in the end, I drew them as they should be, and this isn't pretty. If the RSI indicators are correct, the bounce could recover temporarily 15-20% before the fall to sub $200. If the recovery is lateral around the $400 mark, look for RSI confirmation and subsequent drop. A purchase at $400ish could still be profitable longer term, and the RSI supports this currently. However, think of it as a safety purchase, as the convergence is nearer the $200 marker on or around the 23rd. I currently hold a $600 position and will shore up and average when the $200 point approaches. I never purchase more than 0.1 ethereum due to wide gaps, long swings and sudden drops. I may just buy an entire ETH however, if it hits the convergence. My $600 position was for a purchase that I didn't go through with. I am highly motivated to repatriate my Fiat, but not at a loss. Because of the sharp decline in ETH compared to the modest decline in BTC, I may just convert some BTC to ETH and then convert back on the first spy hop ETH makes above the RSI high line indicator. This trade actually excites me due to the potential profitability and uncertainty.
BITFINEX:ETHUSD
by jjhotfingers
2
USDCHF Trends Converging SoonUSDCHF: 4H Pair is on a recent uptrend. Bounced off of a larger downtrend with 2 touches in the last week. I expect it'll continue to bounce up and down until it makes a break out of this symmetrical triangle. Still needs time and trendline touches to confirm it's pattern. If the breakout goes long, make sure to wait for a pullback to bounce off the support/resistance it has passed for entry. Pattern may continue to go long to challenge the resistance at 0.96347, so if this breaks long, buy in until then. Entry Point: 0.95267
Long
by Bills_Cosbyy
(BTC) Are the bulls back?!?! NO!!!...But change is in the air!!!Alright folks, I know I dropped a COINBASE:BTCUSD analysis for you yesterday (and its held solid!!!)....but I felt like it would be beneficial to provide something less "predictive" and just drop some facts. So as I said, no predictions today, just facts! And I must say, these facts look real promising; all signs point to a significant momentum shift in the recent trend. Enough babble, lets lay it down! 1. The most recent major peak was the first since things turned bearish to break above the ATH overhead resistance. 2. The downtrend from this peak has been significantly less impulsive than the prior major peaks. 3. Although things may be dipping a bit COINBASE:BTCUSD appears to have formed a new minor support above the previous minor channel. 4. Swing lows on the MACD are not only getting higher, but they are now diverging further from their low support for both the signal and MAC. 5. The MACD volatility has dropped off significantly since the second major peak. 6. The MACD is spending significantly longer periods above the zero line. 7. Last but certainly not least, we are seeing convergence of the 24% fib retrace, the july-november low support, and the major overhead resistance. So in short... are we out of the woods yet? Absolutely not. BUT with all of the signs in front of us, I smell the perfect storm for a significant breakout assuming we can smack through that overhead resistance! *** Note that the MACD RSI crossover strategy I've written has the RSI hidden, and that the earning results are irrelevant as it used for cleaning up major trends NOT buys and sells. Remember, TA is neither investment advice nor a guaranteed result, but rather an informed prediction of historical and emerging patterns. Good luck and happy trading! Austin Doyle CTO Crypto Playhouse
COINBASE:BTCUSD
by UnknownUnicorn1613901
3