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Cryptopickk

ETH Ethereum: Is A Big Move Brewing?Hello friends, today I am completing a technical analysis on the 1D linear scale chart for Ethereum ( ETHUSD ), an altcoin cryptocurrency and the second largest by Cryptocurrency Market Capitalization. #CryptoPickk notes the following: 1) Ethereum price formed a multi-month Cup and Handle Pattern which broke out at the end of October 2021. The re-test of the trendline happened a few days ago. It also coincided with a multi-month rising trendline (in green) where the price touched as well. 2) Ethereum price is currently headed to push through the all time high around $4,870 before going further up to $6,500. This would be a 39% price increase from the current price level. 3) The $6,500 range is the 1.618 Fibonacci Extension level, which is also the Cup and Handle Pattern target price range. 4) The RSI (relative strength index) recently bounced off the bottom trendline and is moving upwards. Breaking this trendline will have an effect on the price. 5) The Stochastic RSI (Stoch RSI), Money Flow Index (MFI) and MACD are all looking healthy. 6) The Volume is low but there is buying pressure picking up. If there is a large Volume candle that comes it, we can see prices moving up (or down) faster. 7) If the Ethereum price falls below the green colored bottom trendline, which has been significant support for multiple months, we could see much lower prices. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
BITSTAMP:ETHUSDLong
by MillionaireEconomics
7
All Crypto Market Cap UpdatesHello friends, today you can review the technical analysis on the 1W linear scale chart for the Total Crypto Market Cap ( TOTAL ), the Total Crypto Market Cap excluding Bitcoin (TOTAL2), and the Total Crypto Market Cap excluding Bitcoin and Ethereum ( TOTAL3 ). #CryptoPickk noted in the chart: 1) Reviewing the Crypto Market Caps for the TOTAL, TOTAL2 and TOTAL3 are a must as they all work in tandem. This will give you an indication where the Crypto Market (Bitcoin, Ethereum and Altcoins) are headed. 2) The chart shows each of the market caps have formed a multi-month Cup and Handle Pattern as well as bouncing off of a multi-month trendline. 3) The target for each of the Cup and Handle Patterns are noted. 4) Keep an eye on the Volume as it is picking up. 5) There is positivity coming up, but expect as much volatility. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
CRYPTOCAP:TOTAL3Long
by MillionaireEconomics
6
LUNA Terra Upcoming Price ActionHello friends, today you can review the technical analysis on the 4H linear scale chart for Terra ( LUNAUSD ), an altcoin cryptocurrency. #CryptoPickk noted in the chart: 1) Terra price has been moving up a rising channel since August 2021 with the price currently looking to re-test the top of the trendline which would create an all time high for Terra. 2) The price is being supported by the green Ichimoku Cloud. 3) The Fibonacci Extension level, if the price breaks out of the channel, would meet the 1.618 level at $78-$80. That would be about a 50% price increase from the current price. 4) The Volume is coming back in from being low for a while. 5) The RSI (relative strength index) may possibly break the top trendline which has been resistance for many months. 6) The Stochastic RSI (Stoch RSI) is in the overbought region but has hovered there in the past for multiple days. 7) If price gets breaks downwards, expect to re-test the $41-$45 range where the Ichimoku Cloud support is as well as the 0.618 Fib level. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
LLong
by MillionaireEconomics
8
CUBE Somnium Space Cubes Price ActionHello friends, today you can review the technical analysis on the 4H linear scale chart for Somnium Space Cubes ( CUBEUSD ), an altcoin cryptocurrency. #CryptoPickk noted in the chart: 1) The Somnium Space Cubes price has been in a triangle pattern since early November 2021. The price is approaching the apex of the triangle pattern. 2) There is also a rising broadening wedge pattern also noted with the red line forming within the triangle pattern. 3) The price has the potential to re-test the bottom of the trendline which meets the 0.236 Fibonacci Retracement level before a nice move upwards. Keep an eye on the $17-$18 range. 4) The RSI (relative strength index) has been supported by a bottom trendline and has potential to re-test it again. This is outlined with the red circle on the RSI chart. 5) The Stochastic RSI (Stoch RSI) is hovering in the overbought region but based on prior trends, it may complete a double top before going back down. However it has potential to go straight down as well, which would bring the price down accordingly. 6) The Volume is low, which may be the reason why a sizable move is coming soon. 7) If the price breaks up out of the triangle pattern, keep an eye on the re-test around the $21-$22 range (where the 0.618 Fib level is) before moving higher. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
GEMINI:CUBEUSDLong
by MillionaireEconomics
4
BTC Bitcoin - Target For DownsideHello friends, today you can review the technical analysis on the 1D linear scale chart for Bitcoin (BTCUSD), a cryptocurrency. #CryptoPickk noted in the chart: 1) The price recently formed a cup and handle pattern forming since April 2021. Shown in purple shade arcs. 2) The price broke out upwards to make all time highs. 3) Though price broke upwards, the re-test of the cup and handle top trendline did not happen yet. Generally with such a long running pattern, a re-test of the trendline occurs. We are currently going down for a possible re-test of this. 4) If the price goes to re-tests the trendline, it may go down another 10%-13% or so at around $47K-$48K where there is long term support in that range. After the re-test of that trendline, the cup and handle pattern move reaches $73K-$74K. That is a 55%-60% move upwards. 5) The RSI ( relative strength index ) is not oversold yet. 6) The Stochastic RSI ( Stoch RSI ) is in the oversold region but has potential to hover there for a bit longer to meet this price range. This works in line with RSI. 7) The Volume is consistent but not a major spike yet. If there is more sell pressure, we may see a major red candle on the Volume. 8) The Ichimoku Cloud is showing support at the estimated price range. 9) The Money Flow Indicator (MFI) is now in the oversold region. 10) If the price goes below $47K and stays there for a daily close, Bitcoin price may have potential for more downside correction. Consider stop sells at this point. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
Editors' picks
BITFINEX:BTCUSD
by MillionaireEconomics
134
BTC Bitcoin: Head & Shoulders ComingHello friends, today you can review the technical analysis on the 4H linear scale chart for Bitcoin ( BTCUSD ), a cryptocurrency. #CryptoPickk noted in the chart: 1) The Bitcoin Price is breaking out of the falling channel it has been forming for multiple weeks. 2) The price has a measured move of about 7%-8% before it may be met with resistance around the $63K-$65K. This is outlined in the red rectangular box in the chart. 3) If the price does not break out of that area to meet an All Time High, the price may form the Right Shoulder of a Head and Shoulders Pattern (which is a Bearish Pattern). 4) The measured move of the Head and Shoulders Pattern bring the price down to the $51K-$52K area, which is about 18%-20% down. 5) The $51K-$52K area is also a place where the price may touch a long-term (multi-month) trendline before a bounce. 6) The chart shows the Ichimoku Cloud is red showing that there may be some downside potential upcoming. 7) The RSI (relative strength index) has been forming Lower Highs for multiple months. If the price moves up by the estimated 7%-8%, the RSI may go up to re-test the top trendline before going back down. 8) The Volume is consistent. 9) If the price falls back into the falling channel or reaches a new All Time High, this idea may be invalidated. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:BTCUSD
by MillionaireEconomics
12
COTI 1D Chart - 30%+ drop possibleCOTI on a 1D chart is looking like it is moving within an upward channel and we may be ready to see the price drop to get to the bottom of the channel. The price may have a 30%+ drop (assuming it gets to the 0.382 fib level) before moving upwards in the channel. Keep an eye on the RSI as well. What are your opinions on this? Comment below, hit the like and follow me. Thank you! Check out more below for recent Altcoin, Bitcoin and Stock Ideas. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk #bitcoin #altcoins
Short
by MillionaireEconomics
GOLD: An Increase In PriceHello friends, today you can review the technical analysis on the 1D linear scale chart for Gold price per oz. There are many technical indicators and oscillators noted in the analysis, so please review everything. #CryptoPickk noted in the chart: 1) GOLD price has been in a descending channel since August 2020 forming a potential Bull Flag Pattern. 2) The Bull Flag target is around the 1.618 Fibonacci Extension level around $2,646. 3) The prior price rise took 733 days so assume about the same, the price could reach the target by October 2023. 4) The price would be a 45% increase from the current price level. 5) The RSI (relative strength index) has been supported on the bottom trendline and has not broken it. 6) The only concern I have in sight is Hidden Bearish Divergence which may be in motion currently with some price action going down before price goes up. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
TVC:GOLD
by MillionaireEconomics
4
S&P 500 Index (SPX) Forecast 2022-2023Hello friends, today I am reviewing the yearly linear scale chart for S&P 500 Index (SPX). In the chart I noted: 1) The price has been rising consistently since 1989-1990 with the price moving up in an Arc Pattern since 2009. 2) The price touched the Arc trendline in 2009 and again in 2020. If the price comes down to touch the Arc trendline in 2022, that would be a 40% drop. If it comes down in 2023, the price would drop 30%. 3) In 2009, the price dropped around 38%. I took the RSI at that time and matched it with the RSI at the current levels. If the current price falls, the RSI may also fall to the 60 to 61 range. 4) The RSI (relative strength index) has had a long standing support and resistance at 60 to 61. There is also a long term bottom trendline on the RSI dating back to 1932, in case it falls further. A drop in the price to meet the Arc trendline is coming up. Let's see if it is in 2022 or 2023? What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
SP:SPX
by MillionaireEconomics
2
SPX S&P 500 Index: Support Areas Going DownHello friends, today you can review the technical analysis on the 1D linear scale chart for S&P 500 Index (SPX). There are many technical indicators and oscillators noted in the analysis, so please review everything. #CryptoPickk noted in the chart: 1) The S&P 500 Index met an all time high recently and has been correcting since that point. 2) In the Idea below, #CryptoPickk shows the macro chart of SPX and how it has been on a massive run. A correction was more or less imminent. 3) A Fibonacci Retracement is shown with the price currently hovering around the Golden Pocket (0.65-0.618) zone. The 0.382 level is an area where the price may touch and move back up. 4) The 0.382 Fib level is also in the area of the 100 MA (moving average) around $4,481. 5) There are three noted support areas in the green dash lines. The bottom two fall in the area of the 100 MA and 0.382 Fib level as well as prior Support and Resistance (S/R) areas. 6) The Volume Profile (VPVR) shows heavy pockets of volume around the 100 MA as circled in the red oval on the left side of the chart. 7) The RSI (relative strength index) has been falling with prior trends of dropping RSI levels in the red ovals. With sharp drops in RSI, there is also fairly quick recoveries showing many V or W shaped recoveries. 8) The Volume is healthy but naturally since it is a major US Exchange. 9) If the price goes to the 100 MA and 0.382 Fibonacci areas, it could drop another 3%. 10) If price falls past the 0.236 Fib area, we could go back down much further. 11) If SPX falls, expect the other markets to fall as well including #Cryptocurrencies. The US Dollar Index (DXY) may get stronger during this time. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
SP:SPX
by MillionaireEconomics
3
LTC Litecoin A Bit More Downside To GoHello friends, today you can review the technical analysis on the 1D linear scale chart for Litecoin ( LTCUSD ), an altcoin cryptocurrency. There are many technical indicators and oscillators noted in the analysis, so please review everything. #CryptoPickk noted in the chart: 1) The price has been correcting after a massive rise upwards to around $302-$303. Currently the price is hovering inside the Golden Pocket (0.618-0.65) of the Fibonacci Retracement. 2) The Fibonacci Retracement level of 0.786 is a possible correction zone around $173. 3) This Fib level is also around in confluence with the 200 MA (moving average) of $177. Though price respected the 100 MA on November 26, 2021, the price has potential to go down further due to the overall #cryptomarket. 4) The Volume Profile (VPVR) is also showing significant support in the region of $170-$180 which is in line with the 200 MA and Fib level. 5) The RSI (relative strength index) is below the yellow trendline noted. If it breaks the trendline upwards, we may see a nice price movement upwards. 6) The MACD is still bearish and seems to be similar to a prior period outlined in the red ovals. 7) The Stoch RSI (Stochastic RSI) is in the oversold region. You can see from prior trends that it can hover in the oversold region for a longer period of time. 8) The Ichimoku Cloud is showing support at the estimated price range. 9) The Volume is healthy and shows momentum is there for price volatility for Litecoin. 10) Keep an eye on the price range between $170-$180 which is a 10%-11% drop from current price levels. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:LTCUSD
by MillionaireEconomics
7
SHIB Shiba Inu Possible Downward TargetHello friends, today you can review the technical analysis on the 1D linear scale chart for Shiba Inu ( SHIBUSDT ), a altcoin cryptocurrency. #CryptoPickk noted in the chart: 1) The Shiba Inu price is currently in a Descending Channel Pattern (or Descending Wedge Pattern) since October 28, 2021. 2) The channel has been tightening over the period of a month and currently testing a major support area where the price met an all time high in early May 2021. This is outlined by the blue dash horizontal line. 3) Though a descending channel or descending wedge pattern is considered bullish, the price may still have room to drop as the entire cryptocurrency market is down with potential for more downside as Bitcoin has potential to go lower still. 4) In May 2021, when the price hit the All Time High, it corrected 83%. This time, the price may be supported by the 100 MA (orange line), which is also sitting around support areas from the prior consolidation (green dash line). 5) From the current All Time High price to the 100 MA, the price would correct about 70%. From the current price point to the 100 MA, the price still has potential to correct another 30% (green dash line). 6) The RSI ( relative strength index ) is not oversold yet and has been moving in a descending channel as well. I noted three other RSI similar trends with the oval shape showing the breakout of the trend. 7) The Stochastic RSI ( Stoch RSI ) is coming out of the oversold region but has potential to hover there for a bit longer similar to the prior periods shown in oval shapes. 8) The Volume has picked up recently but not enough to have a breakout or breakdown yet. 9) Since it is a descending channel or descending wedge, there is a higher probability to break to the upside but current market conditions may provide otherwise. Keep an eye on Bitcoin and Ethereum. 10) Lastly, this is Shiba Inu, so anything is possible. :) What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
by MillionaireEconomics
6
ETH Ethereum - How Low Can We Go?Hello friends, today you can review the technical analysis on the 1D linear scale chart for Ethereum ( ETHUSD ), an altcoin cryptocurrency. #CryptoPickk noted in the chart: 1) The Ethereum price has been forming a multi-month rising wedge pattern noted in the yellow trendlines. 2) Within the pattern, the price is currently within a rising channel pattern noted in the red trendlines. 3) There is multi-month Bearish Divergence as noted by the higher high price and lower high RSI and Stoch RSI (oscillators). 4) The price has potential for a further drop from current price with a potential retest of the 100 MA (orange line). 5) The 100 MA is in the same range of the top of the Ichimoku Cloud, which is potentially going to support the price. 6) Looking at the Fibonacci Retracement, the price has potential to re-test the golden pocket (0.65-0.618 levels). 7) If price comes down to this level, it has a chance to correct a further 10% to $3,650-$3,750 price range. 8) The RSI ( relative strength index ) is not oversold yet. It has a chance to go further down. 9) The Volume is consistent but not a major spike yet. If there is more sell pressure, we may see a major red candle on the Volume. 10) The Volume Profile (VPVR) shows further support right below the area noted above at around $3,500-$3,550 range. 11) If the price has a free fall downwards, expect the price to re-test the bottom trendline which means we could get below $3,000 on the yellow bottom trendline. Consider stop sells at this time. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:ETHUSD
by MillionaireEconomics
4
ADA Cardano - Ready For A Massive Move?Hello friends, today you can review the technical analysis on the 1D linear scale chart for Cardano ( ADAUSD ), a cryptocurrency altcoin. #CryptoPickk noted in the chart: 1) Cardano price has been falling since early September when it hit the top of the trendline and now retraced to the bottom trendline. 2) The last time the price had a parabolic rise from the bottom trendline, it took 45 days to get there. Assuming this, the price would reach the top of the trendline again on January 7, 2022. The price has the potential to rise by 131% from current price levels. 3) The Stochastic RSI ( Stoch RSI ) looks like it is forming a double bottom before moving up. CryptoPickk outlined this by the red oval. 4) The RSI ( relative strength index ) looks ready for a double bottom as well then upward momentum. CryptoPickk outlined this by the red oval. 5) The Volume Profile (VPVR) shows the highest amount of resistance below the current price as outlined in the dotted green line. There is resistance at around $2.10-$2.15 range. 6) The Volume seems to low with potential anticipation of a move coming. CryptoPickk shows this by the arrows. 7) The Ichimoku Cloud is looking similar to a prior pattern before the price upward occurred. CryptoPickk shows this in the orange ovals. 8) If price falls, it may be supported around the $1.45-$1.50 range. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
KRAKEN:ADAUSDLong
by MillionaireEconomics
5
LINK Chainlink - Massive Upside ComingHello friends, today you can review the technical analysis on the 1D linear scale chart for Chainlink ( LINKUSD ), a cryptocurrency altcoin. #CryptoPickk noted in the chart: 1) Chainlink price is still down nearly 50% from the all time high at around $53. 2) The price has respected the Fibonacci Retracement levels as highlighted on the chart. The price recently had touched the 0.382 level two times (double bottom pattern), with a bounce up. 3) The Stochastic RSI (Stoch RSI) looks like it is potentially going down again to form a double bottom before moving up. CryptoPickk outlined this by the arrow. 4) The RSI (relative strength index) looks ready for a double bottom as well then upward momentum. CryptoPickk outlined this by the arrow. 5) The Volume Profile (VPVR) shows the highest amount of resistance at the current price level. 6) The Volume seems to be falling compared to the prior weeks with potential anticipation of a move coming. 7) If price moves higher, it could re-test the golden pocket which would be a 41% move up. 8) If price falls, it may be supported around the $21 range as shown by the dotted green line. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:LINKUSDLong
by MillionaireEconomics
18
Walmart's Next Stop All Time HighsHello friends, today I am completing a technical analysis on the 1D linear scale chart for Walmart Inc. (WMT), a retail company traded on the NYSE. In the chart I noted: 1) The WMT price has been moving in an ascending triangle since December 2020 with the first bottom trendline touch in March 2021. The bottom trendline has been respected two times with the second touch in October 2021. 2) The price is currently looking bullish based on a few indicators noted below. The price has potential to increase 5% or greater and make a new all time high. 3) The 21 Day EMA is hovering at the current price and the price is making an attempt to break it. 4) The Volume looks consistent with prior months. 5) The RSI is respecting the bottom trendline forming a Rising Wedge pattern. There is potential for the RSI to move higher as it recently completed a Double Bottom off of the bottom trendline. 6) The Stochastic RSI (Stoch RSI) is moving out of the oversold region with potential to create a double bottom or move directly higher. If it goes back down to create a double bottom, price may consolidate for a bit before moving higher. 7) The Money Flow Indicator recently exited the oversold region and headed higher. An example of the MFI reaching oversold region is shown in March 2021. 8) The Fibonacci extension showed the price recently re-tested the 0.382 level and currently entering the Golden Pocket (0.618-0.65). What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
NYSE:WMTLong
by MillionaireEconomics
SNX Synthetix 1D - Big Move Up ComingHello friends, today I am completing a technical analysis on the 1D linear scale chart for Synthetix (SNXUSD), a cryptocurrency altcoin. In the chart I noted: 1) Synthetix price has respected the bottom trendline since October 2020 and most recently touched the trendline and bounced off of it. It is still hovering around this area. 2) Around the end of November 2020, the price began it's parabolic move of about 600%. That move ultimately brought the price back to the bottom trendline after 234 days. Assuming from that day to 234 days into the future (Feb 2022), we could see the price once again touch the top trendline which it has not touched recently as the price has been consolidating since May 2021. 3) Assuming we begin the move upwards, that would be a 130-135% gain in Synthetix price. This wouldn't be an immediate move up as we have Support and Resistance areas to overcome. 4) Also the RSI (relative strength index) is about to potentially form a double bottom, which could drive the prices higher as shown historically. 5) If the price touches the top of the trendline and has a breakout of the long term triangle pattern, we could see a significant price upside. 6) The Volume over the past few weeks has been less, which is usually not the case. This may be a signal that a move is coming. 7) If the price breaks below the bottom trendline and stays below it for more than a few days, this idea may be invalidated. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
KRAKEN:SNXUSDLong
by MillionaireEconomics
3
COTI 1D - Possible Big Move DownwardsHello friends, today I am completing a technical analysis on the 1D linear scale chart for Coti (COTI), a cryptocurrency altcoin. In the chart I noted: 1) COTI price recently formed a Double Top and it broke down from the bottom of that trendline. The measured move of the Double Top Formation Pattern is going to bring the price to $0.25, which is a 38-40% price drop. 2) When reviewing the Fibonacci Retracement, that price drop level falls in the 0.618 zone, which is also a major support zone dating back to March 2021. This may be where the price bottoms out and starts to move back up. 3) I took the last three Double Top Formations and saw the price correct significantly. Assuming the price does drop down to the $0.25, that would be a 61% drop from the top of all time high price. 4) The RSI (relative strength index) has also not reached the oversold region yet as it has done in the past three Double Top Formations. I assume we will see the price go lower and completing a double or triple bottom before we see the price moving back up. 5) Interesting, the Volume has picked up over the past few months so there are buyers and sellers for COTI. 6) This idea would become invalidated if we move above the trendline at $0.44 for more than a 1D period. Stay a bit cautious on this one as history doesn't generally repeat, but surely rhymes. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
by MillionaireEconomics
GRT The Graph Bottom Trendline Re-testHello friends, today I am reviewing the 1D linear scale chart for The Graph (GRT), a cryptocurrency alt coin. In the chart I noted: 1) GRT price has been in a long-term triangle pattern since Jan-Feb 2021. The price is approaching the apex. 2) The price recently tested the top trendline of the triangle and got rejected and may possibly re-test the bottom of the triangle again, resulting in a 20% price drop to around $0.70-$0.72. 3) The Ichimoku Cloud is showing green and the price has stayed above the cloud since the end of October 2021. If the price drops, it may only be a very quick wick down for the re-test. 4) The RSI (relative strength index) tested the bottom support trendline and could be re-testing it again forming a double bottom to help push the prices higher. 5) The Volume has not gained much momentum since March 2021 but has not significantly decreased either. 6) The VPVR (Volume Profile) shows support and resistance at the current price levels as well as the potential price drop area. If GRT can manage to break upwards out of the triangle, there is limited resistance above. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:GRTUSD
by MillionaireEconomics
8
Silver Price Forecast - Cup & Handle In SightToday I am review the Silver price (precious metal per oz) forecast. The multi-year chart is on an annual (12M) basis on a linear scale. After 40 years, the Silver price formed a cup and handle pattern since 1980. This is incredible. Unfortunately the price has not broken out yet and it seems in 2021, the price is still below the trendline of the pattern. As the price took 40 years to get to this point, it will take time for a breakout. Assuming the price breaks out, the target price from this pattern is about $60. That would be a 146% gain. This may take more than a decade to happen though. In 2011, the price created an all time high at around $50, but also created a shooting star candle which is bearish. This brought the price down to create the handle of the cup and handle pattern. Lastly, the Fibonacci Extension level brings the target price to 1.618, which is the Golden Ratio. Keep in mind that it took the price 40 years to get to this bullish pattern of cup and handle, so expect the price increase to take a very long to reach the target (unless of a catalyst event that may occur). Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
TVC:SILVERLong
by MillionaireEconomics
BTC Bitcoin 4H Chart - Weekend Update Hello friends, today I am reviewing the 4H linear scale chart for Bitcoin (BTC), a cryptocurrency. In the chart I noted: 1) The price recently formed a cup and handle pattern forming since April 2021. Shown in purple shade arcs. 2) The price broke out upwards to make all time highs. 3) Though price broke upwards, the re-test of the cup and handle top trendline did not happen yet. Generally with such a long running pattern, a re-test of the trendline occurs. 4) If the price goes to re-tests the trendline, it may go down another 20% or so at around $47K-$48K where there is long term support in that range. After the re-test of that trendline, the cup and handle pattern move reaches $73K-$74K. That is a 55%-60% move upwards. 5) The RSI (relative strength index) broke out of the downward channel and could go back down for a re-test of the trendline as well. 6) The Stochastic RSI (Stoch RSI) is overbought and has potential of coming back down. 7) The Volume is low but it seems to be getting ready for a move. 8) The Ichimoku Cloud is showing short term resistance around $59K-61K. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
BITFINEX:BTCUSD
by MillionaireEconomics
Ankr 1D Chart - Upcoming PossibilitiesHello friends, today I am reviewing the 1D chart for Ankr (ANKR), a crypto altcoin on a linear scale. In the chart I noted: 1) The price has been bouncing off of a long term upward trendline since June 2021. 2) The price started moving up another smaller trendline since October 2021. 3) The price has the potential to re-test the Fibonacci golden pocket zone (0.618-0.65), which would be a 10% move upwards. 4) There is also significant resistance at the 0.786 fib level which was there in March to May 2021 timeframe. The price was not able to break out of this area and it broke down from that point into consolidation. 5) If the price does not break the top side resistance trendline, we can see the price go back down to the bottom support trendline which would be a 30%+ move downwards. 6) The RSI (relative strength index) is at a resistance trendline and possible to breakout of it, otherwise it will fall back down to the lower support trendline. 7) The volume seems to have picked up over the past few weeks. 8) The Ichimoku Cloud is showing a green support zone which may be a good sign for Ankr but BTC price movement make dictate where Ankr price moves in the short term. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:ANKRUSD
by MillionaireEconomics
2
LTC Litecoin 1D UpdateHello friends, today I am reviewing the 1D chart for Litecoin (LTC), a crypto altcoin on a linear scale. In the chart I noted: 1) The price has been bouncing off of a long term trendline since July 2021. 2) The price started moving up another smaller trendline since September 2021. 3) The price recently bounced off of the support line around $200. 4) The price also bounced off of the 0.382 Fibonacci level around $200 and now headed to the possible golden pocket zone (0.618-0.65) between $237-$242. That would be a 8-10% gain. 5) The RSI (relative strength index) recently bounced off of the bottom trendline and possibly headed higher. 7) The volume seems to have picked up over the past few weeks. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
KRAKEN:LTCUSDLong
by MillionaireEconomics