Doublecurve
The Vortex Says Early April Will Be FunTrading patterns can be seen as random data along a path of least resistance. Such random data though beautiful can often be seen as having a pattern in a way quantifiable. Take, for example, the Fibonacci sequence. It has no real power in which direction the market is trending, but often you will see key levels at golden ratios. It's not necessarily a pattern or a law of nature, but the fact that we tend to identify patterns we recognize.
Today I saw a vortex in the BITSTAMP:BCHUSD chart. I am a big fan of using double curves, since what goes up must come down. In doing so, I usually spot a pretty typical trend either converging or diverging using lows and highs. Today I zoomed out to see a rather strange set of double curves that look like a vortex.
Then it hit me.
People are like vortices spinning and crashing against idealistic highs and lows and their own patterns and predictions when a market is uncertain. When a trend crashes out, a new one forms, inverting the curve, what we call a reversal from being oversold or undersold. The best part is that all curves converge at a single point unless crashing, so this method of graphing is easy enough to get the hang of.
If this appears true, early April should be interesting. I predicted a breakout up for BITSTAMP:ETHUSD around early April, and I believe that other cryptocurrencies will also make a break for it at the same time. I just couldn't see it in this chart pattern until I graphed the vortex.
ETHUSD - Bullish Double Curve, Similar Continuation?ETHUSD Bullish is looking similar to the last leg up. Will we see continuation as we have previously? ETHLONGS on BITFINEX are soaring, ETHSHORTS are dwindling. We also have declining volume again with sustainable Highs and Higher Lows. The flag looks legitimate coupled with the volume.
This seems Bullish to me, but again I am eyeballing a Bullish Butterfly that would see some correction coming to price should it validate. Price action, as seen on BITFINEX will be bumping into a distant trend line, though these previous months have shown this is the time for trend changes.
Previous Post on Bullish Butterfly :
Previous Post on Distant Trend Lines from November until now .
ETHUSD - The Stairs, or the Window?What will it be? "Bulls take the stairs up, Bears take the Window down". Two ideas that I think are in play, especially with much rejection coming from the Daily SMA 50.
Firstly, SMA 50 and 100 are soon to meet, and possibly one tough hombre to cross. That, coupled with a minor Round Top could spell a setup price down to POC @ $120 ($115 on other Exchanges), or possibly lower if it busts through EMA 12, 26, and SMA 20. Long wicks and repetitive rejection at the resistance lines are not very convincing for the flip setup - Double Curve.
With regards to the Double Curve, we are seeing nice Higher Lows, and Lower Highs mixed with triple or more bounces off the top - taking more of an Ascending Triangle Pattern (with exception of the extremes in price fluctuation) that would suggest some upside here.
Time will tell - and I'm doubtful that this thing will trade sideways through the descending channel - though we are getting in a pinch with the EMAs and MAs all in one place.
Good Luck, Traders. May you find yourself on the profitable side of it.
