DOW Trading Under ATH | New Years WedgeAfter seeing the DOW hit ATH last week, it looks like it could continue sideways for the next week or so as we approach the holiday season.
I'm watching $29,820 as weekly support and $29568 as Monthly support. Looking toward the upside, we've tested the $30,325 range as ATH twice in the last week, confirming it as a strong level of resistance. I'll be watching this wedge moving into the week as we watch for a breakout.
As the vaccine is distributed nationally and globally, we could aim to expect a continuation up that is unless we see negative news about this pandemic or vaccine. We also need to remember that Biden will be making his transition into the White House on January 20th, 2021.
God Bless America
Easyloottrading
LTC Bull-Run 2021+Alt Coins across the map all are showing a similar pattern.
+The pattern im seeing its coins are testing bullish trend lines after getting rejected of of weekly levels and bearish trend lines.
+Same goes with link after 2 test on 92.98 we saw that it came right back down to its bullish trend line and still maintained the level.
+ LTC on the 12 hour looks like its creating level adaption on the level 79.79 which is a really good sign for bullish activity.
+We can also see this on the 4 hour where LTC is adapting 79.79 as a new support after breaking out of a bearish trend cycle.
+As we come to a end towards this symmetrical triangle lower lows which is another great sign for bullish activity.
+Things are looking great for LTC and im patiently waiting for the right time to grab a 50X leveraged long on it and hold on for awhile.
+I wouldnt be surprised if we tested the bullish part of the triangle one more time this would basically stop out longs that got in to early which is something market makers love to do so just be patient with the entry.
+TP 1 $99.97📊
+TP 2 $125📊
Chainlink Spot The Breakout Buy The Breakout+Chainlink has sure given us a few sloppy days of trading this past week with both green days and red days
+I believe now its safe to say that Link seems to be making a reversal back to the upside after testing its white daily trend level I drew back form July
+Chainlink also seems to be in a symmetrical triangle and if it breaks this symmetrical triangle we will see prices back towards ATh very shortly
+Breaking this symmetrical triangle Chainlink will see my TP's of 17.36 and 19.29 shortly after New Years.
+I think rn is a great time to buy some Chainlink for a nice position trade and hold till it reaches its first touch on these resistance levels.
+First TP $17.36📊
+Second TP $19.29📊
ETH Preparation for 2021 Bullrun+ETH after rejecting $618 came back down and tested $485
+We tested but thankfully did not close below $485 which lead to antlers attempt of $618
+On the chart it seems like ETH is going for another attempt at $618 and this is going to be a very important test/break we see.
+If we fail to break $618 on its next attempt there's a possibility we see a similar pattern to the 485 rejection with 3 months of accumlation.
+Now I don't really see this as happening do to the fact that Bitcoin is facing its ATH once again and we are headed towards a weekly close in the new few hours.
+Closing the $618 level will confirm its next to TP of $714 and $810
+Simple break down on ETH just to sum it up im very bullish on it atm
+TP 1 $714📊
+TP 2 $810📊
BNBUSDT $30+ TargetBinance Coin just broke out of this downtrend on the 4-hour and bounced off $27 support, going long to $31 & $35 as take profit levels.
BNB has already 1st touched the $35 level and that's around it's previous ATH of $40 so on this next leg-up it could head up to previous-ATH levels. Look what Bitcoin is doing right now that is very possible for BNB.
If BNB doesn't have enough momentum after hitting $31 resistance then its going to come back down and retouch this downtrend and $27 support again before moving back up to those long levels.
Let me know your thoughts in the comments thank you
This chart is kept very, very simple.
ETHUSD $600 Long TargetEarlier this month Ethereum formed the notoriously bearish triple top pattern and was looking like it could come back down and retouch the $470 support level.
Then I didd some investigating into bigger timeframes and realized that ETH hasn't came back down to touch a single level of support since $234 and it doesn't have to in a bull market.
All the talk about the $470 was invalidated after ETH created that higher lower and never saw a close underneath this uptrend. From there, it was squeezed lower until it couldn't possibly drop any lower and then rocketed upwards past $556 and out of the wedge.
From this close out above $556 we can expect to see a weekly close above the $556 level indicating the continuation of this bull market going long towards $600 and beyond.
TP1 🎯$600
TP2 🎯 $617
Thank you 🙏 Cheers 🥂
BTCUSD $21200 Long TargetFor the entirety of this month so far Bitcoin has been suck accumulating just underneath it's previous ATH.
Now after reversing back upwards it looks like BTC has broken out to the topside of this wedge and is heading back up to hit its previous AH and go beyond $20,000
$19600 is the 1st TP and is followed shortly after by the psychological resistance level of $20,000.
After Bitcoin makes a clean close above $20,00, the next target is the top trendline to hit a target around $21200
XRPUSD Support & Reverse LevelsLooking at the 4-hour chart of XRP, I think it will stop & reverse at 0.537. This is a weekly level created in 2019 off of a swing high.
It could even reverse here at 0.57 after dancing around the level a bit. However, if we don't stop bleeding from here and somehow BTC starts falling then for the bottom for XRP I would be looking at 0.47.
Thank you
Ethereum (ETH): It's Going Down I'm Yelling TimberAfter a triple top pattern at $600 as well as the psychological resistance there, ETH is falling down.
Not a double top, but a triple top. That signals even more bearish momentum than a double.
It is going to come down to the $556 support level at least as it hasn't backtested there yet except for the scam wick there at the end of November.
TP1 will 100% hit, TP2&3 are still on the table somewhat possible. If the dump stops around $556 I am bullish again to $687, but if we keep dumping here are the targets its going to:
TP1 🎯$556
TP2 🎯 $522
TP3 🎯 $498
And just to add that it hasn't touched the $470 level after moving all the way up beyond $600, what if we went down there that'd be crazy.
Let's see how this chart unfolds
Bitcoin (BTC): Trading Sideways Underneath Previous ATHBitcoin is currently trading in the range of $16599 to $19666, bouncing between weekly support and the previous ATH.
From here it looks like BTC is going to find support again along $18383 as well as wick the bottom trendline before moving back up and breaking through ATH. If we would've dumped, it would've happened by now. Right now is the consolidation period before the next ATH.
I believe after this consolidation period that Bitcoin could hit $30,000 easily. The public isn't ready for this yet but its coming I can feel it.
Going to be flat and boring for a little while longer, but the pump will be worth the wait.
Cardano (ADA): 1W Outlook 🚀 Making Higher HighsLooking at the chart of Cardano on the Weekly timeframe we can see the coin has an all-time high of $0.36251 that hit in April of 2018. This was just after the 2017 high when the price of ADA hit a little over $1. This $0.36251 level is just a relief rally when the price fell down over 90%. The coin has stayed mostly unchanged since hitting the bottom at $0.03.
The start of 2019 was the reversal from the bear market to the bull market with the absolute bottom forming at $0.029 and created a high at just under 10 cents that summer. That high created whats marked on my chart as the 2019 bull market high and up until July 2020, ADA has been trading in between the zone of the absolute bottom and the 2019 high. From there the price found the 2019 high as a level of support as it keeps grinding higher.
Last month, Cardano came down and backtested the 2019 bull market high level before creating a new local high. Notice how there wasn’t a single candle closure underneath those 2019 high levels, that indicates very bullish momentum going forward.
Some fundamentals adding to this bullish looking technical analysis, IOHK, the development team behind Cardano is launching a hard fork on the blockchain called “Goguen”. This is the third phase of Cardano and will take place sometime in December and enable the token-locking mechanism. It’ll allow users to hold tokens for a fixed period to complete a contract.
The Cardano team has passed two phases focused on making its protocol decentralized. The third phase is devoted to implementing new features.
I know this chart doesn't show the 2017 high of ADA, I am aware that the top on here is $0.36251 but here are my TPs
TP1 🎯 $0.19701
TP2 🎯 $0.23677
TP3 🎯 $0.29100
TP4 🎯 $0.36251
These are reasonable targets for this coin moving forward and keep in mind this is on a weekly chart that shows about 3 years worth of candlestick data. This is going to take time to play out but it will, these targets will hit. Thank you
As always please do your own research, I am not a financial advisor.
Sushi Bullish Continuation +Sushi is one for those coins you wish you bought when it was .55 cents back 1 month ago.
+Sushi is currently up 400%+ in the past 33 days.And the pump isn't done yet.
+We can see on the 4 hour timeframe that sushi already had it first touch rejection @$2.46
+Sushi now is going for another attempt at cracking $2.46 and if it can break this level we will close this valley and go for test @$2.71
+I've traded Sushi numbers of time both long and shorts on futures and I understand how fast it moves.
+Thats why you see 3 Target prices in this post instead of 2.
+If you look at the 1 hour you can actually see a rising channel Sushi has created and respecting its boundaries very nicely.
+I believe from my TA and multiple times of trading sushi we will se a nice ladder up towards $3.17 and see a heavy rejection then due to that fact that $3.17 is its finally Daily resistance until ATH which is very interesting to see such a drop on Binance futures pricing
First TP $2.71📊
Second TP $3.05📊
Third TP $3.17📊
Thanks for reading my analysis on Sushi make sure you eat some Sushi if you enjoy trading it as a reward😝. As always traders Stress Less, Profit More the best is yet to come!!
LINK GET READY FOR ATH+Link has been a coin I really enjoy swing trading/day trade.
+Link 12 hour timeframe shows a very bullish scenario coming soon.
+Link has adapted its once resistance now support at $12.81.
+Maintaining this level and respecting the bullish trend line starting from September 23 will allow link to break out of this symmetrical triangle
+Link wasn't to far from its all time high recently but came back down after its first touch of $16.35.
+This valley will allow link to test its finally valley before ATH which is 17.33
+Even though Link is somewhat overbought I do see Link being able to reach ATH and creating a new ATH sometime after 2021 thinking Mid January Early February.
+First TP 16.35📊
+Second TP $17.33📊
Thanks for reading my TA on Link and remember traders Stress Less Profit More the best is yet to come!!
LTC PUMP INCOMING+LTC has had some pretty serious gains these past weeks increasing 78% in 20 days has been since by LTC in a very long time
+LTC current pattern really looks like ETH pattern back July when it ripped 75% in 9 days.
+LTC Rejected $91.90 and came dumped a little above $63.63
+ Since then LTC has created a new bullish trend line I have drawn on this 4 hour chart starting from October 21
+LTC is also making higher lows and seems to be laddering up slowly but surely.
+$81.47 is LTC's current support. If LTC can continue to respect this level I believe it will pump as it comes new this bullish white trend line and breakout of the purple downtrend I have drawn on the daily.
+If we can break LTC will have enough momentum to hit my TP's
+Note these are Swing trade/Postion trades will not play over time will takes weeks and possible months to hit.
First TP $125📊
Second TP $ 141.98📊
ETH Spot The Breakout Buy The Breakout+After ETH first attempt for the level 618 we saw a 20% correction a few days ladder.
+ETH can came down its a resistance now turned support $485
+Since wicking $485 ETH laddered up for another attempt at 618 but this time closed above and wicked $636
+Unfortunately this attempt failed to keep pumping and we came down to $564
+$564 is a support right before the 618 valley I spotted on the 4 hour timeframe.
+This is a great sign for ETH because it is make higher lows and laddering up in price.Which is also level adaption.
+You can see that ETH as created confirmed bullish trend line on the 1 hour after 3 taps.
+I drew a Bearish trend line on body of the candle $636
+ETH is just getting started and I believe after the close of $618 we will see a very nice pump.
1st TP $714📊
2nd TP $784📊
+Keep in mind These are going to be swing trades no way will these targets get hit in 1 day.
+Thanks for Reading my TA on ETH and remember traders Stress Less,Profit More the best is yet to come!
BCH Buy The Breakout+In the Past I've only traded major pairs like BTC,ETH,LINK and a few other Defi Projects.
+Recently I have changed my mind and now realize that there are many other coins out there that are just as good to swing trade.
+BCH has been in accumlation for the past 272 days and has just recently turned its resitance now support at $274.
+We can also see a Bullish trend line that I have drawn created in March.
+Longer the accumulation bigger the move up.
+With BCH being in accumulation for so long I believe that we will be able to test its monthly resistance $443 sometime in the next month or 2.
+BCH should see a nice breakout In the next few days possibly weeks if we can maintain this yellow bullish trend line that I drew.
+1st TP $402 📊
+2nd TP $443📊
+BCH is definitely and shitcoin hasn't made a move since 2018 but a good coin to swing trade it seems like now. Long term BCH Holders good luck.
+Thanks for reading my TA on BCH and remember traders Trade Smart Profit more
XRPUSD Consolidating in Ascending TriangleLooking at the chart of XRP on the 4-hour timeframe we see an ascending triangle that for the past week has been consolidating the price of the coin. The question on everyone's mind is what price does this coin breakout at and how can we catch it? Everybody including myself was expecting XRP to breakout to the upside this week and the coin did anything but that, however, I wouldn't put it past XRP to pump this next week.
I posted a draft of another XRP analysis over the weekend but that was to fill my short bias when we are now looking bullish again for a potential reversal. When I posted that XRP draft I didn't stretch the ascending triangle to its true bottom, which would've brought me to the conclusion that the coin is still trending inside and consolidating within the ascending triangle.
From here, I can see the price of XRP bouncing off the bottom trendline as support before moving upwards to not only close out the ascending triangle, but hit my TP's along the way up as well.
TP1 🎯 $0.6300
TP2 🎯 $0.6727
TP3 🎯 $0.69401
The $0.69401 sell target would close out the small valley created by the ascending triangle. If XRP saw a daily close above this level, which it hasn't yet, then the price would continue going upwards to touch the $0.80 resistance level before hitting $0.89 and beyond. $0.89 is the 2018 swing high price of XRP.
Also in fundamental news, Coinbase is planning to support the upcoming airdrop for XRP. On December 12th, users will receive Spark tokens directly correlated to the amount of XRP you hold in your Coinbase account. Spark is the native token of the Flare Network, a system meant to bring Ethereum-like functionality to the XRP Ledger.
As much as I want to see the price of XRP go back down to 0.40, marked on my chart as Santa's Lair, I don't think it'll go back down there and see those levels. The local bottom for this move should be around the monthly support marked at $0.572.
When I said altcoins outperform Bitcoin though, they outperform BTC when the prices go down as well. When all the cryptocurrencies are bleeding out, altcoins tend to fall a lot harder in terms of % than Bitcoin.
Let me know your thoughts on where you think the price of XRP is going in the comments below.
ETHUSD Triple Top Pattern at $600Looking at the chart of Ethereum on the 4-hour timeframe we see a triple top pattern that was just recently confirmed by these most recent 4-hour candles.
From here it would be very reasonable for the price of ETH to drop down to at least the $556 level and below, but we've already seen the close retest of the level that just missed it by a few dollars. Not only did ETH not touch $556, but it also held inside the wedge to a Tee by wicking the bottom trendline before reversing the momentum back upwards.
Ethereum on the most recent dip has still managed to make consecutive higher lows as the price of the second largest cryptocurrency holds its bullish momentum as it trends higher. This is a very weird pattern because double and triple tops are supposed to mark the session high before a sell off, but my guess is that these tops were signaling a move back down to touch the $556 weekly support level.
Now that these candles played out, we know that $556 is acting as a very strong support level that I don't think ETH will fall below. Going long after another touch of the bottom side of this wedge, here are my TPs I have placed:
TP1 🎯 $601.52
TP2 🎯 $617
TP3 🎯 $687.15
I'm watching this chart very closely because this could still go both ways. The deciding factor is this wedge that Ethereum is currently holding in. If it touches back down on the bottom trendline and breaks out sideways, then there is a very good chance that $556 and lower will be hit. If you're waiting for the big short, there could still be a possibility as there are a number of bearish factors such as: the triple top and the fact that ETH still hasn't backtested the $470 level of support before moving all the way up to $600.
However, even with all these bearish factors I think the price of ETH will rise if Bitcoin continues to rise up. There is also an influx of new Ethereum news such as the Beacon chain of ETH 2.0 that launched on the 1st of this month as well as a whole bunch of institutional investors entering the top cryptocurrencies as the world is switching away from the USD standard.
Thank you all for your continued support, let me know where you think the price of ETH is going!
ChainLink Get Ready For The Pump+Chainlink market makers didn't want us to make money so easily so thats why we saw the heavy dump after attempting to test $16.4
+Chainlink also failed to close above it downtrend trend line which lead to have it come back to its bullish trend line creating a symmetrical triangle.
+We can see on the 12 hour that the level that 13.28 is showing some sort of level adaption since we closed above it on Nov 28th
+Great opportunity for a swing trade with target prices of $16.4 and $17.36
+ Im guessing from my analysis that we will see a nice pump this upcoming weekend and break this symmetrical triangle and attempt $17.37
+Most likely we will see a ruction at $17.37 after due to the fact that it will be its first touch on its finally rejection level before ATH.
+Chainlink has great fundamentals as well which I will be posting tomorrow.
+First TP $16.4
Second Tp$17.36
Thanks for reading my TA on Chainlink and remember traders Trade Smart Profit More the best is yet to come!!
XRP/USD | Retesting $.8 Then $.93? | 4H TimeframeRecently BINANCE:XRPUSDT made a pretty strong correction along with almost all other high market-cap coins.
In the smaller picture XRP faces a few minor breakouts before we can confirm a bullish move. Also watch $.564 as a temp support with the next level looking toward $.496.
Currently, XRP sits in a wedge which should complete any day now, it seems to be finding and holding support successfully but don't get your hopes up.
Looking for a breakout of this wedge to the upside (orange trendline), then a breakout of $.679 before we can confirm a potential bullish move on both smaller and larger timeframes.
-DCJ-
Bitcoin Facing New ATH'sHello traders today ill be going over a pretty detailed analysis on Bitcoin and how facing its ATH will effect the crypto markets.
+So first off I want to say congratulations to all the traders and long term holders for coin. Even if you bought at the peak in 2017 you are have no broken even.
+Now to begin with my TA Bitcoins ATH was $19,697.
+We can see on the chart that Coin actually wicked above this level 1.5% but failed to close which caused sell off. not a crazy sell off but definitely a decent one.
+With Alt season coming around I believe that we could definitely see some accumulation between the levels of 17,174 and 19,392.
+If this plays out market makers would create a accumulation zone for coin and pump alt coins due to the fact that crypto market exclude Bitcoin is slowly rising over time.
Which would be the start of Alt Season.
+What I've noticed over time looking at the total crypto market cap exclude coin Is that it actually is about .5% more then market cap if you add coin.
+In the comment section below I will share both my TA's on both market caps.
+My second possibility for coin is coin seems to be creating a rising trend line started around the beginning of November
+To Confirm this any trend line it needs to be respected 3 times. That is called a confirmed trend.
+if this comes into confirmed trend Coin and many other alt coins will fly past ATH and soar.
+I really can't give any TP's in this post because when a asset is creating facing ATH I find very difficult to have perfect target prices.
+A new set of TA will have to be formed because Bitcoin is going to rocket soon we all know this but we just don't know when.
+But until then traders remember trade smart profit more the best is yet to come!
Chainlink Another Breakout Incoming!+Chainlink in the last few days has been building momentum for its next leg up.
+We can see that even after the huge dump from the rejection of its down tend line I drew it came back down to the support of the symmetrical triangle.
+Closing above the daily resistance of $13.83 will allow Chainlink to go for its first test of $16.47
+Simple TA on Chainlink not much to say
+First TP $16.47
+Second TP $17.33
+Thanks for readying my TA on Chainlink and remember traders Trade Smart Profit more.
XRP Ascending Triangle to $0.80 & BeyondSince XRP got rejected off of the $0.80 daily resistance level, the price has been a falling knife back down to catch a known support level which was $0.4792 monthly support.
XRP saw a clean reversal off of the $0.47 without closing below that monthly support level, reversing back upwards to touch $0.56/
From here I see taking profits on longs at $0.67267 for a 1st touch rejection and going back down to touch the bottom trend of the ascending triangle, until eventually surpassing that 1st touch rejection and heading up towards $0.80 & beyond.
There should be some decent pullback after this sudden spike up, it's up 12% on the day after capitulating. Think about all the traders telling you to short the bottom etc. at $0.47 lololol that's where you should be buying!!! And signaled that too! That's what capitulation is though, it really makes you think the sky is falling and the only option is down, that's how you know where the bottom is for future reference.
XRP is not falling down to Santa's Lair although I would like it to, I can see a re-entry price for people that woke up late at $0.562 going long:
TP1 🎯 $0.67267
TP2 🎯 $0.80000
TP3 🎯 $0.89999
As always please do your own research, I am not a financial advisor.