CGC - letting the dust settleWatching the CGC range from low of Friday to high of today. Today's low bounced right off the golden pocket of the fib pull with swing low as the oversold bounce low, to the high of today. It will be interesting to see if that holds. I'll be remaining very patient as the next couple of days set a tightening range with new levels to play off of. The break of that tightening pattern will set momentum for the days to follow.
Today's bear volume was very notable. We know there is ETF balancing ongoing this week that must settle up Friday, so I am leaning towards seeing more selling pressure into tomorrow and Friday.
I find the most clarity on the daily and 4hr charts. The 4hr chart with extended hours could be considered a bear flag here, but those long lower wicks of bulls buying the dip are a point in opposition to that possibility.
Equilibrium
WEED - letting the dust settleWatching the WEED.TO range from low of Friday to high of today. Today's low bounced right off the golden pocket of the fib pull with swing low as the oversold bounce low, to the high of today. It will be interesting to see if that holds. I'll be remaining very patient as the next couple of days set a tightening range with new levels to play off of. The break of that tightening pattern will set momentum for the days to follow. I find the most clarity here on the 4hr and daily charts.
The bear volume today was significant
We know there is ETF balancing ongoing this week that must settle up Friday, so I am leaning towards seeing more selling pressure into tomorrow and Friday.
CRON bounce was by far the weakest of the major sector namesCRON low of Friday was just below the .5 retracement from low of consolidation to all time high 13.39. It had the weakest bounce Friday out of the big four, rejecting hard from the .382 dump retracement whereas other names hit the .5 or in the case of APH hit the .618. Watching the hourly chart for a break of it's tightening range to indicate short term momentum for this week, and helping to define levels for the daily tightening pattern on a macro level
APH nails Lower High target; Do the bulls have more energy?APH After retracing almost .5 of the move up from the low of consolidation before the constellation news breakout to our recent high, I was watching for a lower high to be set in the mid $19 range, right around where we closed Friday. It will be notable if the bulls keep pushing higher, and when they tire out I'll be watching for a higher low compared to low of Friday $15.95 and a tightening daily equilibrium.
BTC 4hr/daily Bounce Occurring. Looking for Weekly Lower HighI mentioned in my last BTC post that I was looking for BTC to set a higher low on the weekly compared to 5858 and then for bulls to take over to set a lower high.
BTC is bouncing from 6119 and has changed the 4hr uptrend for the first time since the dump on September 5th. For me to be confident that the weekly higher low has been established and for bulls to have a chance of breaking the weekly equilibrium pattern I need to see higher lows and higher highs on the daily timeframe. So far we are seeing weak bull volume on this bounce and are testing the 4hr 55EMA, daily 10MA, and daily 12EMA. I am in short positions in some altcoins and will increase position size as BTC approaches the 26/55EMA on the daily.
The area we are currently trying to move through has a lot of support/resistance price history from 2018, indicated by the red box. If bulls want to have any chance of saving the weekly equilibrium pattern, we need to see impulsive moves up through this area with more volume. I anticipate that bulls will set a weekly lower high below 7000 since the 6850 area has a lot of resistance (if we can even make it that far). After the weekly lower high is set I will look for a break of the weekly equilibrium pattern to indicate direction for the rest of the year.
The weak bounce has brought the 1hr and 4hr RSI back above oversold levels, which can allow bears to more easily drive the price back down again if they show up.
I have no interest in playing bullish because of the amount of resistance we have in the red box, even if we see a change in trend on the daily timeframe. Until bulls can break above 7429 all my positions will be shorts.
ONT: Multiple 4HR Bars Before Inside Bar Breaks BearishONT saw almost 12 hours pass before the inside bar finally broke bearish. Higher lower patter broke, and we are in full bear mode right now.
Bulls continue to lose the moving averages as support. If you look back before the last bear break, the bulls were coming in HOT with volume to keep the moving averages as support. Eventually their steem ran out and now the bears are fighting to do the same. We are seeing continous decreasing volume with each 4HR bar until very minimal and then the bear bomb drops with a large volume spike and a drop in price.
Ideally the bears would like to push the price down below the bear wedge (red) that we are seeing right now and push to new lows. Not a lot of action at the price level on Binance in the past, we don't have much to go off of which is never help.
Right now, I am playing it patient. I do have some money in at this level because there has been a lot of support in the 1.80-1.95 range. The bulls will fight to push the volume higher in the 1.90 range before making a run at 2.00 which will be a HUGE TEST. Moving averages are pushing down lower and lower which I think the bulls REALLY LIKE at this point. Having both so close together makes for a HUGE resistance level to break.
Keep a close eye on the wedge I have posted in red. As you can see.... we are getting VERY CLOSE.
J_DOT_CRYPTO
Callin' it like I see it!
ONT Bulls Break Higher High, Higher LowONT bulls come out swinging today and we are zoomed out to the 1HR! As you can see, they are currently holding the 12 Moving Average as support and trying to break the 26 Moving Average before a run at the 100MA!
MACD is bullish and separating shaping into a quite bullish set up!
We have have a higher low formed, and the bulls will now look to break to a high higher while regaining the 26MA as support! The zone between the 12 and 26 moving averages is tight, and the 12 is setting up to break up through if the bulls can keep momentum in their favor!
As always, set stop losses within 5-10% (depending on your preference) of the 12MA as it is working as our current support. If broke, there are a few support levels in the 1.90's that I think will hold us up for now.
J-DOT-CRYPTO
ONT Equilibrium Pattern Breaks BullishONT zone got VERY tight overnight allowing us to zoom all the way into the 15 min chart to follow. As you can see it became tighter and tighter until it came time to test the 12MA and 26MA.
Previous attempts have broke bullish on this time frame, but the bears finally tired out and the bulls take over the 15 minute time frame. Breaking the the 12MA and the 26MA and shifting their momentum and moving them in the right direction!
We now zoom out to the 1HR chart, and see what the bulls can do here. After the bear momentum yesterday the moving averages are primed and ready to come up and break through the 100MA to regain bull dominance.
For now, we wait and see if the bulls can keep it up!
J-DOT-CRYPTO
FB tightening daily equilibriumFB in a tightening equilibrium, trying to find support here before moving up and finding a lower high relative to 188.30. Losing 170.91 would increase the odds of a weekly bear flag, I'd be looking down at 166.56 then low of the after earnings post-market dump, 164.30. Lots of support in that area, with a yellow trend line in tact since June 2013 just below. Breaking bullish out of this pattern and I'll be sitting comfortable in a swing looking up to all time highs again with little resistance in the way.
Shopify tightening range holding uptrend, preparing for breakoutSHOP.TO is tightening up on the daily as price forms an equilibrium. Decreasing bull volume on the daily tells me we're likely to set a lower high relative to 199.50 before coming back to test the uptrend that's held since Dec 2017, and set a higher low relative to 172.95. Volume within this pattern will be key clue about how the pattern will break
A clear 1 hour equilibrium forming on XLMUSDTBTC will likely decide sooner rather than later whether Stellar will break bullish or bearish from this hourly EQ.
NI225Pennant pattern forming with macd divergence at it's lowest = breakout incoming. White shaded zones are long and short entries. More bearish than bullish on the long term. Look out for a fake break out, big wick candle, and then strong reversal before 2019. Green dotted lines represent support and resistance prices.
USDINR LONG and SHORT STRATEGYWhite dotted lines represent short term support and resistance levels based on the tightening equilibrium pennant pattern. Note the bullish divergence on rsi. green arrow = long / red arrow = short. Green and red shaded area = sell zone via dca based on fib retracement 1.618 (of course ema may act as support so sell if you see strong support on ema if shorting)
ZRX with clear potential for a beautiful weekly EQ and 100% gainIF ZRXUSD has found its higher low on its weekly timerframe we could see a beautiful equilibrium with 100% gains shown by the solid green arrow and the green curved line.
And even IF the dip continues for couple of more weeks (the red curved line) then the EQ shown by the blue lines has still plenty of room above the 0.341 price line to find a clear higher low to bounce from for even greater gains.
BTC Equilibrium Until July If you are long this is the only chart you need. BTC has been in the same Equilibrium Pattern for the last few months. We have had a series of Higher Lows and Lower Highs. The pattern is really beginning to tighten as we get closer and closer to a bullish breakout. Volume from the bears is waning as the pattern tightens. I fully expect a breakout in early to mid July. Buying opportunities can be found at the bottom of the trend line, for both BTC and any Alts you may be looking to accumulate. Happy Trading!
CRON-TSX Weekly/Daily EquilibriumWatching this equilibrium tightening. Waiting for a long or short opportunity.
Indicators: The price is rejected from the 50-D MA since 2018-04-24
Closest resistance: 8.46 on 2018-05-22
Closest support: 7.37 on 2018-05-17
If one of those break, I will consider to start building a swing position.
* Horizontal lines are support/resistance price level
* Trend lines are for visual purpose
[BTC] Bulls Continue to Deliver as Chance of Reversal IncreasesIn my last post I showed you the more or less parallel support/resistance lines that I was watching in the short-term as price continued descend to that important bright red trendline. Got close to it but not all the way down... yet.
I extended the lines that kept the downward staircase pattern. On this 1-hr time frame you can see in hindsight of course that each stair step down had a consolidation triangle or bear flag held up by these rough trendlines. Each leg down had a shorter drop and shorter consolidation as it got closer to the lows at $7040, which was a good signal that the bears wearing become exhausted.
We dipped down, which wasn't unexpected, from $7.4-$7.5k yesterday and the lowest white trendline had held us up long enough that I was comfortable enough to re-invest a little bit of the profit I realized at $7.5k to my position with a tight stop-loss. Turned out to be a good move and buyers propelled us back up above the darker red uptrend line that has been a significant pivot point. Now though, we do seem to be strongly above it after re-testing it and the white trendline just below it, resulting in a couple bullish hammer candles on the hourly chart. Now as we cut through those previous resistances, I'm slowly scaling out of part of my position and holding half for mid-long term.
Resistance to watch now is the highest white trendline that capped the recent jump at $7600. If that is cleared then we can zoom out and try to assess the bigger picture on the 4-hr and 1-day charts. Watching 12 and 26 EMAs on all time frames still!
I was expecting to see a touch of the long-term support trendline just below at $6900 but bulls showed up quickly. I had been buying a little each stair step down, not trying to time the bottom, and it turned out to be a good strategy. Although the likelihood of going back down to test that $6900 area would be ideal for a reversal, I don't see it as necessary to have a successful reversal/bounce. The selling had been intense on the way down and we still have a higher low formed on the daily time frame which helps strengthen my view that we are converging to a point of equilibrium in a large triangle.
[ETH] Levels and Zones to Watch if (when) ETH Continues DownUpdated the key levels I'm watching for potential bounces, reversals, consolidations, etc. on ETHUSD as we wait for consolidation to end after heavy selling last couple days. The last chart I posted showed a channel, which I was surprised had broken down so quickly and violently just after already strong bear moves. Volume is spiking here on the daily chart.
As you can see I've got a No Buy Zone labeled, which we are currently consolidating right at the top of. This consolidation could be prolonged quite a while and might rotated about the $590 axis. The zone had no resistance on the way up and likely needs to be "Traded Out" so to speak.
Below that, a POTENTIAL Reversal Zone could be around the top of the massive green candle we had in early April. That movement was so abnormal (in BTC anyways) that I think it's likely we'll go down to at least test that price before buying significantly.
Scenarios:
1) We move sideways for a long time in the No Buy Zone then grind back upwards. (BULL, 50/50 CHANCE)
2) Rocket out above $600, little resistance, retest $590, strong support, Lambos on the Moon, yada yada yada. (STRONG BULL, LOW CHANCE)
3) Continuation Pattern forms and breaks down from No Buy Zone, then look for possibilities of Potential Reversals in the $475-ish area. This would allow us to establish a higher low and maintain convergence pattern towards an equilibrium. (BEAR, HIGH CHANCE)
4) Current leg of downtrend doesn't last, consolidation is short, drop straight through under $500 in the next couple days. From there, who knows tbh. Perhaps we bounce of the solid red line of long-term support, but it's too soon to say, could go even lower afterwards even. (STRONG BEAR, 50/50 CHANCE)
Bottom line, at this point the bears clearly have the floor, we'll see where they place it.
BTCUSD almost going to bounce back?It looks like the end of a huge equilibrium pattern. Could it be the end of the downtrend that started 12/17/2017? What do you guys think?
BTC Weekly equilibriumI'm using wicks here since it's the weekly and crypto markets never close. After the dump we hit a low in February that sticks and hit a lower high, higher low, lower high, and we'll see if we can hit a higher low this week. There's still room to dip further from where we are and maintain weekly equilibrium.
Zooming out on the weekly chart of BTC a bit can give some perspective. Sometimes. Sometimes not.
BTCUSD - Price Prediction and Technical Analysis (May to July)Horizontal Green Lines = Support Levels
Horizontal Red Lines = Resistance Levels
Diagonal Purple Lines = Tightening of Resistance/Support
White Arrows = Prediction of future market movements based off personal TA
Equilibrium formation on the Daily/Weekly chart that is about to finish up it's tightening pattern. An equilibrium occurs when the support and resistance levels slowly squeeze the market trend closer and closer to the middle of the two, which eventually breaks causing the market to burst towards a direction chosen by the majority (and Fomo).
From what I can see, the market should be heading towards the $7800-8100 region in the next 2 to 3 weeks, after it makes a small bounce to the $8700 area to finish up this week. From there onwards, we'll see the market move back up again to test a newly formed resistance level (Mid-$8000), while consolidating along side the topside of the Purple Diagonal Line. Soon after, the bulls will realize the market is finally ready to start a new uptrend, and the shorts/whales will fomo buy and launch BTC out of the equilibrium pattern to finally begin a new uptrend that will last for the 2nd half of the year.
Thank You, and Good Luck!
~~ Not Financial Advice. Also, the lines and numbers show the general direction/area of movement, and are not "exact" ~~
