Hullmovingaverage
ACB's Dilemma: To accumulate and rise? Or fall and delist?ACB is at a critical price point at this time. The price action is still feeling the very strong downward trend that is pointing directly to $0 by no later than May.
In order to even potentially reverse this brutal downtrend, ACB must first accumulate and confirm the end of the downtrend. An accumulation channel between $1.16 and $2.75 is potentially in the midst of forming, and ACB will likely move around this price range in the coming months until some volatility and volume decides to push it either way.
We will get a better confirmation that the accumulation channel has likely formed if the downward trend lines are broken to the upside, while the price holds above $1.16. (in other words, ACB has to maintain above $1.16 by the close of Friday March 20 while never having a week that closed below $1.16 until then)
The weekly 20HMA indicator has the possibility of indicating the end of the Bear Market once it starts moving in a positive direction. Confirmation of the Bullish retracement is only highly likely once three criteria are met: weekly OBV closing higher than its 20MA, weekly 20HMA moving in a positive direction whilst acting as support, and ACB’s weekly price closing above the $2.75 resistance of the accumulation channel with strong volume. During retracement, ACB may retrace to its 0.618 Fib ratio of around $6.82 as the top of its retracement. Otherwise, if ACB cannot meet all three of these criteria, ACB is likely to maintain the accumulation channel between $1.16 and $2.75 for months.
If ACB closes below $1.16 on the weekly, it is likely to drop further into the lower accumulation area of $0.12 to $0.60 for several months and risk being delisted from the NYSE.
TLDR: ACB has to move sideways before it can move up, or else it will continue to fall. I have presented specific details above that may indicate when the selling pressure has potentially stopped and sideways movement is likely.
I will try to keep updates pertaining to this idea as the market provides new information in the coming months. I would appreciate any feedback or comments regarding this idea.
SPY Hits Opening Range Extension for First time in 4 DaysFor the first time in 4 days, SPY has hit the 5 minute opening range extension of the OR High + 60 cents. This is the cyan line on my custom indicator.
Will SPY continue higher? I'll be watching price action plus my custom RSI Candle indicator at the bottom. As you can see, this price move up has put the RSI High above the 70 level. The Hull Moving Average on the indicator is moving up so these factors are a great indicator of upward momentum.
LTC/USD Daily outlookLTC/USD Daily outlook
Litecoin is getting closer to a falling wedge pattern breakout most likely to recover some lost territory heading to $100.
The drops are slowing down as shown by the Poshtrader Hull Moving Average period 50, where Litecoin price has broken out above the trendline resistance.
However, the Litecoin bulls must reclaim the support at $45 to avoid declines into the $30’ range.
*The RSI recovery towards 50 shows that the bulls are ready to retrieve command and move some action upwards.
*The Poshtrader Hull Moving Average is supporting the current price level
*The Simple Moving Average 50 Gap has started to narrow.
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Bitcoin Forecast and Analysis December 16 — 20, 2019Bitcoin Forecast and Analysis December 16 — 20, 2019
Bitcoin Forecast and Analysis December 16 — 20, 2019 suggests an attempt at the support area near the level of 6520-6760. Then, the cryptocurrency will continue to grow to the area below the level of 9600. An additional signal in favor of the growth of the Bitcoin exchange rate will be the Hull Moving Average, Period 50 and ADX Signed, Period 14. Cancellation of the option of raising the Bitcoin cryptocurrency quotes will be a fall and a breakdown of the area of 4950. In this case, we should expect continued decline with the target at the level of 4100.
LTC - Litecoin - Ascending Broadening WedgeLitecoin has been within an Ascending Broadening Wedge since its bottom in December of 2018, similar to my Etherium analysis, and is currently below the 60-Day Hull Moving Average on the Weekly...
The Daily candle opened lower and below the 8- and 20-Day HMA...
With the support of the 8- and 20-DHMA's on the 4Hour but below all HMA's on the 1Hour...
The measure rule for this patter based on the principles of Charles Bulkowsi are for a maximum target of the beginning of the formation of the pattern, with that here are the targets we are eyeing...
And if we measure the previous local downward move as a Motive Wave...
The Fibonacci levels match pretty closely with our targets...
The bearish technicals on BTC lead me to believe there is a strong chance of this pattern breaking down to these targets.
Bitcoin Trying to Push Through 12,000Bitcoin spent the day today trying to smash through the $12,000 level with an early morning push and now a late day push.
The last part of the video I show how the alt coins are still moving lower against bitcoin and not showing any signs of reversing.
(not investment advice)
Bitcoin Continues Bullish RiseBitcoin continues bullish rise. I've added a new indicator bars_in_a_row, to the chart that counts consecutive bars (you can get it from the public indicators). We are hitting the limit of bitcoin consecutive days so having a down day does not stop the bull move.
In the first part of the video, I called the confluence with the trendline and the fib level the .38 fib level but it is really the .23 fib level. In any case, as I mentioned last week, we will follow price up through the fib ladder and now price is ranging between the .38 and the .23 fibs. You can use the faster time frames to see where this pullback may end and give you a possible price point to enter long if you'd like.
I then show how this chart setup works great on any instrument you'd like to trade.
If you enjoy this video, please like and share.
(this is not investment advise)
Litecoin Rangebound with some Bullish SignsLitecoin is currently trading between 2 support and resistance zones, roughly between 88 and 108. The top of today’s candle touched the 100 EMA but the fast 21 HMA has started to turn up. Also, the fast squeeze indicator has turned green and the slow squeeze has turned dark red, a sign of a potential upward move.
We’ll see if price can break and stay above $100 and get past the 200 EMA.
(Not investment advice)
BitCoin Resumes Bullish MoveAugust has brought with it a new bullish move in BitCoin. After selling off in July, the bottom of $9,100 has held for now and price is moving higher though the fib ladder. Additionaly the 21 HMA has turned green and price has pierced through the 50 HMA, all suggesting that another bull leg may be starting.
(This is not investment advice. It's just my take on how I see the charts at this moment.)
Why I'm ignoring technical chart and buying SOXL after hoursTrading View's technical chart is flashing a sell signal for SOXL, but my proprietary algorithm is saying buy.
These indicators are flashing strong buy:
Slope of the Hull moving average
Previous day's change
Difference between 20-day exponential moving average and 20-day simple moving average
These indicators are flashing a weak sell:
20-day simple moving average slope
Distance from Hull moving average
This indicator is flashing a fairly strong sell:
*Distance from 20-day exponential moving average
My proprietary algorithm aside, there's also seasonality to consider. Today is a "bear day" according to the Stock Trader's Almanac, meaning that on this date the market historically has fallen more than 60% of the time. However, the next week and a half have historically been bullish. So historical patterns suggest that today's decline was an anomaly and that the market will rally tomorrow or Friday.
As always, this is just an idea about how the market may move, not investment advice.
Bitcoin daily 10/200 50/100 Golden Cross, HMA and Fibonacci PivIt seems that there is some confusion in cryptocoin community, what Golden Cross is. Lets look at the definition from Investopedia:
"The golden cross is a candlestick pattern that is a bullish signal in which a relatively short-term moving average crosses above a long-term moving average .
The golden cross is a bullish breakout pattern formed from a crossover involving a security's short-term moving average (such as the 15-day moving average) breaking above its long-term moving average (such as the 50-day moving average) or resistance level. As long-term indicators carry more weight, the golden cross indicates a bull market on the horizon and is reinforced by high trading volumes."
Fibonacci Pivot Points, Hull Moving average, several daily EMA's on a 4 h chart.
All scripts/indicators on this chart are available on my "Scripts" page.