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Movingaverageconvergencedivergence

Moving Average Convergence Divergence Indicator Visual EducationHello Traders, Today I wanted to go over one of my favorite as well as one of the most widely used tools in trading, the Moving Average Convergence Divergence (MACD) indicator. This moving average indicator was created invented in 1979 by Gerald Appel responsible for the MACD line and Signal line and later added to this was the histogram, developed by Thomas Aspray in 1986. Now that you know who created the MACD indicator lets discuss the components of the indicator. The MACD indicator consists of 4 main components, the Signal line , the MACD line , the histogram and the zero line of the histogram often referred to as the baseline. Below are the calculations of the different components to help you better understand what makes up this indicator. MACD Indicator Components and Calculations (White Labelling) Signal Line Red colored smooth line The signal line is simply an exponential (weighted) moving average (EMA) based on the prior 26 days closing price. As with any EMA the formula looks like this: EMA = Closing price x 26 + EMA (previous day) x (1-26) MACD Line Blue colored rigid line The MACD line, similarly to the Signal Line is also an EMA based on the prior 12 day closing price. Also, similarly to the signal line it uses a similar equation to display the line which is: EMA = Closing price x 12 + EMA (previous day) x (1-12) Histogram Green and Red vertical bars charted around a horizontal axis known as the baseline. The histogram is determined by subtracting the signal line from the MACD line. This is easier to interpret than looking at the two lines alone, since it is sometimes difficult to tell if one curve is steeper than the other. The histogram is positive when MACD is higher than its nine-day EMA, and negative when it is lower. This oscillator is definitely a nice touch to the indicator as a whole and my personal favorite indication for divergence which I will teach you more about in part 2 of this series. Histogram Zero line Aka "Baseline" This is the line in the center of the histogram oscillator that is also referred to as the baseline. This line is important as you will see later when I explain the signals this indicator creates. This line is calculated by the MACD Line and the Signal line crossing. Which is another way for you to see that the lines are crossing both bullish and bearish crosses. The calculations behind each part of the indicator is not really information that you need to remember as @TradingView has put a nice suite of house tools for you to use that calculate this for you but, I find that the more you know the better you are able to understand these charts and who knows, maybe someday this will help you crate your own indicator using the pine script editor they also make available to us for free. Also, if you understand the math it helps you when editing the settings to adjust indicators better per the asset you are trading. MACD Indicator Signals (Yellow and Teal Labelling) Now lets go over the signals that this indicator produces help with the way you can utilize this indicator to help you trade. A key note to remember is that the MACD indicator is a Moving average indicator and is best used in a trending market. You can identify a trending market by looking for price action that is heading in one solid direction up or down. Tending markets are usually noted by “higher highs” and “higher lows” in an uptrend and “lower highs” and “lower lows” in a downtrend . This indicator is best used to help you determine trend reversals. There are also 3 major signal components to this indicator but, in this first series we are only going to discuss 2 as it is important to understand this indicator before moving onto the next step and applying the more advanced features. These 3 major components are MACD line crossing over the Signal line and both signal line and MACD lines crossing over the zero line on the histogram . MACD Cross (Yellow) The top MACD line (red rigid line) crossing down over the Signal line (Blue smooth line) is a bearish signal and generally indicates a sell signal letting you know that the price action has potentially came to the end of an uptrend. Again, this is used mainly in trending markets and can be very helpful to assisting in taking profit in a long position or starting a new short position. In contrast to the bearish MACD cross , you can also see on the bottom of the chart that there is an indication of a bullish cross of the MACD line (Red rigid line) over the Signal line (Blue smooth line). This would be a good indication the the downtrend has ended and it may be a good time to start a long position or close a short position. The Histogram Zero line cross (Teal) There are 2 signals you can get from this but the one that matters in my opinion the most is the signal line. So for the sake of explanation I have shown them both together as both bearish and bullish signals on the chart. Now that you know about the signal line and the MACD line it should be easy to identify when these two lines are crossing the zero line of the histogram that we have also discussed. As shown in the chart you can see that the bullish cross is showing the two lines coming from below the Zero Line and crossing above which would be a bullish signal and you would be looking for a buy, potential start of or continuation of an uptrend. On the contrary, if these lines crossed from above the Zero line below then this would be a bearish sell signal and you would be looking to open a short position, be looking for a reversal of an uptrend or continuation of a downtrend. Now here are some key takeaways and tips you will want to always follow when using this or any other indicator. #1: Make sure you know the type of market you are trading by analyzing the market structure. Is it trending and creating higher highs and higher lows, lower highs and lower lows? Or is it ranging in almost a rectangular box? #2: KNOW YOUR INDICATOR and the best market it is used in, again, the MACD Indicator is best used in a trending market! #3: This is probably the most important of the 3, It is a must that you learn everything about each indicator you are using and to never use ONE indicator/Oscillator for signals stand alone by itself. Trading just like anything else in life is a numbers game and the better statistics you have, the better outcome you will receive. Congratulations Traders! You now know the basics of the MACD Indicator!!! I hope you will come back for part two and three of this series that I will be releasing after the new year to help some of the new traders entering this ever expanding community here on TradingVeiw! Part 2: MACD and RSI Divergences Visual Education Release 01/01/2022 Part 3: Falling wedges and Fibs Release 01/02/2022 I hope you had a green year and look forward to learning and trading with all of you winners next year! Happy New Years, Savvy
Education
by Savvythe1
DJI - longterm Pitchfork Pattern is still valid since July 1932With all this talk about another great depression like stock market crash happening in the very near future, i thought i’d join the fun and take a look and analyse the DJI Monthly Chart. Using an extended Pitchfork Pattern (A,B,C), we can clearly see that the DJI has been in an Upwards Pitchfork Pattern since the Month of the 1st July 1932. Chart wise, you can see The Wall Street Crash of 1929 which started the Month of the 2nd September 1929 and ended the Month of the 1st July 1932. History says the crash ended on 13th Nov 1929 but chart wise it didn’t, because the bottom turned out to be around $40 on the 1st July 1932 not $195 on the 13th Nov 1929. Chart wise, the 2020 Covid-19 crash started in the Month of 2nd Jan 2020 with what’s looks like a Monthly Shooting Star Candle which then lead to 2 more Bearish Monthly Candles. The Candle from the Month of 2nd March wicked all the way down to the depths of hell & found strong support from its Upper Yellow Pitchfork Support Line, the price then managed to close back above its Upper Light Green Pitchfork Support Line. Note that the last time the DJI closed a Monthly Candle below its Pitchfork Median Line was the Month of the 2nd Feb 2009. The Price eventually made it its way back ABOVE its Pitchfork Median Line on the month of the 1st April 2009. At the moment, DJI has found strong resistance from its Upper Light Blue Pitchfork Resistance Line. What is interesting is that this Pitchfork Resistance Line served as strong resistance from the Month of the 3rd May 1999 - 3rd Jan 2000, note that the DJI failed to close a Monthly candle above this level and has not closed a Monthly candle above this Pitchfork Resistance Line since the Month of the 2nd Sept 1929. If we take a look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is still in the Positive Zone above the 0.0 Base Line. Note that the MACD Line (Blue Line) is curving downwards and if it crosses back under the Signal Line (Orange Line) then that will be a potential sell signal on this 1 Month timeframe. Note that the MACD Line (Blue Line) has not been in the Negative Zone under the 0.0 Base Line since the Month of 1st Sept 2010. Looking at the Average Directional Index (ADX DI) we can see that Positive Momentum has weakened on this 1 Month timeframe with the +DI (Green Line) dropping to 23.82 and Negative Momentum has risen with the -DI (Red Line) at 14.94. Note that the Trend Strength is sideways with the ADX (Orange Line) at 21.93 and still above its 9 Period EMA (Black Line) which is at 21.05. If the -DI (Red Line) ever crosses back ABOVE the +DI (Green Line) then that would mean that Negative Momentum has become DOMINANT over Positive Momentum on this 1 Month timeframe. If we look at the Relative Strength Index (RSI) we can see that the RSI (Purple Line) has dropped out of the Overbought Zone at the moment. Note that the RSI (Purple Line) is also below its 9 Period EMA (Orange Line) which is a sign of weakness for Positive Momentum on this 1 Month timeframe. Note that we also have DIVERGANCE with the Price and the RSI on this 1 Month timeframe. The Wall Street Crash of 1929 dropped to around -89%. A drop of -89% from the price level at the moment would take DJI Price to around $3,800. The Covid-19 Crash of 2020 dropped to around -38%. A drop of -38% from the price level at the moment would take the DJI Price to around $21,550. Here is a closer look at this 1 Month chart. Note that if DJI does drop massively again then it has potentially 4 Pitchfork Support Levels to support it before it reaches the Pitchfork Median Line. Note that the Upper Dark Green Pitchfork Support Line will be a crucial level to watch as it has acted as support & resistance on multiple occasions over the last 121 years. I hope this post has been helpful with your trading ;-) On a funny note, some may wonder whether or not the 1929 crash happened to mark the conception of a certain individual called Warren Buffett ;-)
TVC:DJI
by entertheroach
4
VeChain - 1d chart updateVeChain is still within its Massive Symmetrical Triangle on this 1d timeframe. VeChain is back above its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. Note that the Upper and Lower Bands are still pinching inwards so that means the Bollinger Bands have a lot of room to expand before becoming over extended. Note that VeChain is still above its Least Squares Moving Average (LSMA) for this 1d timeframe. VeChain is still in the Bearish Zone of the Ichimoku Cloud for this 1d timeframe. VeChain still has a mountain to climb before it can attempt to get back into the Equilibrium Zone and then back into the Bullish Zone. At the moment, VeChain is above its VPFR POC for the Fixed Range of 11x daily candles that i have selected. A very good sign will be if VeChain closes this daily candle above this VPFR POC. At the moment, VeChain is above its VPVR POC for this charts Visible Range. A very good sign will be if VeChain closes this daily candle above this VPVR POC. Volume is still low on this Binance Chart, but note that yesterday’s 1d Volume Bar closed above its Volume 20 Period MA. If we look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is indicating momentum is upwards and note that it is still above its Signal Line (Orange Line). The MACD Line (Blue Line) is still under the 0.0 Base Line in the Negative Zone, be on the lookout for when the MACD Line (Blue Line) crosses back above the 0.0 Base Line into the Positive Zone on this 1d timeframe. If we look at the Average Directional Index (ADX DI) we can see that the Trend Strength has dropped slightly with the ADX (Orange Line) dropping to 43.05 and dropping below its 9 Period EMA (Black Line) which is at 44.21. Note that the -DI (Red Line) has dropped to 22.52 indicating Negative Momentum has dropped. Note that the +DI (Green Line) is slightly sideways at the moment at 13.49. Be on the lookout for when the +DI (Green Line) crosses back above the -DI (Red Line) as this will indicate that Positive Momentum has become DOMINANT over Negative Momentum on this 1d timeframe. Here is a wider look at this 1d chart: I have added 2 areas of interest on this chart indicated by the Horizontal Parallel Black Lines with Yellow Shading. The bottom area is our major support area that VeChain must keep closing above. The top area is the next major area of resistance that VeChain must break back above and more importantly CLOSE a daily candle above this area of resistance. Keep an eye out for any successful re-test a support if there is a breakout. I hope this is helpful with your trading and hodl-ing.
BINANCE:VETUSD
by entertheroach
2
ADA - another 1d chart updateAt the moment, ADA is back above its Bollinger Bands Middle,Band Basis 20 Period SMA on this 1d timeframe. ADA needs to close this daily candle above the BB Middle Band Basis. Note that it looks like the Upper and Lower Bands may start pinching inwards if a significant new high or low cannot be achieved. ADA has found some resistance from its Least Squares Moving Average (LSMA) on this 1d timeframe. Note that the LSMA is currently at the Horizontal Resistance Line (Dotted Line) at $1.382. Note that ADA is still in the Bearish Zone of the Ichimoku Cloud. ADA is still below its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 8x 1d candles that i have selected. At the moment, ADA is fighting to stay above its Volume Profile Visible Range (VPVR POC) for this charts visible Range. A daily close above this level is crucial for continued upwards momentum. Note that the last 3 Volume Bars closed above its Volume 20 Period MA. I have added some key Resistance and Support Areas indicated by the Horizontal Parallel Black Line with Yellow Shading. If we take a look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Base Line and is indicating momentum is sideways at the moment. Note that the MACD Line (Blue Line) is still above its Signal Line (Orange Line) for this 1d timeframe. Note that the MACD Line (Blue Line) has not been in the Positive Zone above the 0.0 Base Line since the 17th Sept 2021. Looking at the Stochastic Indicator (STOCH) we can see that momentum at the moment is upwards, we may see more upwards momentum on this 1d timeframe if the %K (Blue Line) successfully crosses back above the %D (Orange Line) and stays above it. If we take a look at the Average Directional Index (ADX DI) its looking scary as the +DI (Green Line) is at 18.301 and has crossed back under the -DI (Red Line) which is at 18.401 indicating that Negative Momentum has overtaken Positive Momentum on this 1d timeframe. We 100% need the +DI (Green Line) to cross back above the -DI (Red Line) on this 1d timeframe. Note that the Trend Strength has dropped with the ADX (Orange Line) at 24.445 and it is below its 9 Period EMA (Black Line) which is at 30.164 further indicating the Trend Strength is indeed becoming weak. At the moment, from my perspective it’s looking like SIDEWAYS within a range at best or DOWNWARDS at worst for ADA. Be on the lookout for any successful close above the BB Middle Basis and successfully re-test as support on this 1d timeframe. As always, we need to keep an eye on what BTC is doing because BTC is in a H&S Pattern. If BTC drops below and more importantly CLOSES below the Neckline of the H&S Pattern then that will effect all alts including ADA in a negative way. I hope you have found this ADA analysis post helpful with your Trading and Hodl-ing. Notes: LSMA = Black Squiggly line on Chart Bollinger Bands = Grey Bands on Chart Resistance and Support Areas = Horizontal Parallel Black Lines with Yellow Shading on Chart Volume Bars = Bars Bottom of Chart Volume 20 MA = Orange Line going through Volume Bars on Chart Ichimoku Cloud = Red and Green Cloud on Chart VPFR POC = Short Horizontal Blue Line on Chart VPVR POC = Long Horizontal Blue Line on Chart
BINANCE:ADAUSD
by entertheroach
8
BTC - Heads Shoulders Knees and ToesBTC is still below The Median Line of its Longterm Upwards Pitchfork Pattern on this 1d timeframe. Note that BTC has not closed a daily candle below the Lower Yellow Pitchfork Support Line since the 7th Nov 2020. Note that BTC has previously found support from this Lower Yellow Pitchfork Support Line on the 20th and 21st of July 2021. BTC is still below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. Not that the Upper and Lower Bands are still heading slightly sideways but we do have a bit of expansion so we should expect more negative expansion if the price continues to drop. BTC is still below its Least Squares Moving Average (LSMA) for this 1d timeframe. A close above the LSMA is a BUY signal and a close below the LSMA is a SELL signal for this indicator. The Head and Shoulders Pattern is still running its course. BTC needs to stay above the Lower Support Area i have indicated or next stop will be the H&S Neckline. BTC is still below its Volume Profile Visible Range Point of Control (VPVR POC) for this chart’s Visible Range. BTC is below its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 13x 1d candles that i have selected. Note that the last 2 Volume Bars have closed above its Volume 20 Period MA and they closed in the red. I have added a Trend-Based Fib Extension which show a few potential Fib levels that could be used for potential profit taking if you are short. The Moving Average Convergence Divergence (MACD) is indicating that we may possibly see a SELL signal on this indicator because you can clearly see that the MACD (Blue Line) is very close to crossing back under the Signal Line (Orange Line), which is a sell signal for this indicator. Note that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Base Line. If we look at the Stochastic Indicator (STOCH), we can see that the %K (Blue Line) is still under its %D (Orange Line) and is also in the Oversold Zone under the 20 Line. At the moment, if the %K (Blue Line) crosses back above the %D (Orange Line) I personally would not jump in on a long using this indicator alone, i would asses how the daily candle closed as well to check if there is any potential Divergence between the STOCH and the price. If we look at the Average Directional Index (ADX DI) we can see that the Trend Strength is strong with the ADX (Orange Line) rising to 30.55. We may see the ADX (Orange Line) cross back above its 9 Period EMA (Black line) which is at 32.39 and would be a further sign of the Trend Strength. The -DI (Red Line) is at 31.92 and way above its +DI (Green Line) which is at 16.06. This indicates that Negative Momentum is hugely dominant over Positive Momentum on this 1d timeframe. For your viewing pleasure, here is a closer look at this 1d chart. For your viewing pleasure, here is a wider look at the Longterm Pitchfork Pattern (A,B,C) on this 1d chart. Looking at the previous 6d Chart i did, note that BTC is 2 days aways from closing this 6d candle which may potentially close as a BEARISH ENGULFING Candle on the 6d timeframe. But a lot can happen and change in 2 days. So what does all this mean? If the MACD produces a SELL Signal on this 1d timeframe then we will see further drops on this 1d timeframe. If BTC crosses below and more importantly CLOSES a daily candle below its CRUCIAL Lower Yellow Pitchfork Support Line then that becomes resistance and we should expect that BTC will eventually cross under the H&S neckline leading to even further drops that may be cushioned by some of the Trend-Based Fib Extension levels. In any case, a lot can happen in 2 days but at the moment it looks like there may still be some really good buying opportunities coming up for all crypto in general. I hope you have found this analysis post helpful with your trading and hodl-ing. Notes: LSMA = Black Squiggly Line on chart Bollinger Bands = Grey Bands on chart Pitchfork Pattern = Follow the A,B,C VPFR POC = Short Horizontal Blue Dotted Line on chart VPVR POC = Long Horizontal Blue Dotted Line on chart Support and Resistance Areas = Black Horizontal Lines with Blue Shading on chart H&S Pattern = You know where that is ;-)
BITSTAMP:BTCUSD
by entertheroach
3
BTC - needs to Invalidate the H&S Pattern on the 6d ChartBTC is potentially in a Head and Shoulders Pattern on this 6d chart, and you can also see clearly this on the weekly as well. Ideally, BTC needs to CLOSE this 6d Candle above the Dashed Resistance Line at around $53,148. If not, then the next 6d Candle will suffice. Failure to do so may validate the Right Shoulder and if BTC drops below the H&S Neckline then a potentially much bigger drop can be expected. BTC is still below its Bollinger Bands Middle Band Basis 20 Period SMA on this 6d timeframe. Note that the Upper and Lower Bollinger Bands are moving sideways. Note that BTC is still below its Least Squares Moving Average (LSMA) for this 6d timeframe. Be on the lookout for a 6d Candle CLOSE above the LSMA as that will be a BUY signal for traders who use this indicator on this 6d timeframe. BTC is still above its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 4x 6d Candles that i have selected. We 100% need BTC to CLOSE this 6d Candle above this level. Note that the Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range is at $56,375 so BTC is not that far away from it. We can expect some resistance around this level. Volume is still low on this Bitstamp 6d Chart and note that the last 2x 6d Volume Bars have been below its Volume 20 Period SMA. I have highlighted 2 potentially crucial Support Areas for this 6d timeframe. The first is at $40,879 - $39,511 and the next one is $31,037 - $28,622. Let’s take a look at 3 Momentum Indicators, the STOCH, MACD and the ADX DI and see what each is actually indicating: If we take a look at the Stochastic Indicator (STOCH), The %K Line (Blue Line) is indicating that momentum is upwards at the moment. The %K Line (Blue Line) is still relatively low and has a lot of room to move up before breaking into the Overbought Zone above 80 on this 6d timeframe. Note that at the moment the %K Line (Blue Line) is above its %D Line (Orange Line). If we look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is still under its (Signal Line). We need the MACD Line (Blue Line) to cross back above the Signal Line (Orange Line) as this will be a BUY SIGNAL for this indicator on this 6d timeframe. Not that the MACD Line (Blue Line) is still above the 0.0 Base Line in the Positive Zone. If we look at the Average Directional Index (ADX DI) we can see that Negative Momentum has dropped with the -DI (Red Line) at 21.72 and Positive Momentum has risen with the +DI (Green Line) at 17.55. Note that the trend strength has lost a bit of strength with the ADX (Orange Line) dropping to 21.67 and it is still below its 9 Period EMA (Black Line) which is at 23.61. We need the ADX (Orange Line) to stay above the 20 Threshold (Dashed Black Line) and we need the +DI (Green Line) to cross back above the -DI (Red Line) on this 6d timeframe for any LONGTERM recovery to become sustainable and real. Note that all of these indicators can be used and applied in whatever trading timeframe you are in. So what does all this mean. Simply put…. BTC needs to CLOSE above the Dashed Resistance Line. If you are waiting for full Bullish confirmation on this longterm 6d timeframe, then be on the lookout for when BTC manages to CLOSE a 6d Candle ABOVE the Dashed Resistance Line invalidating the H&S Pattern. After that, we need BTC to break back above and more importantly CLOSE above the Bollinger Bands Middle Band Basis and then the LSMA on this 6d timeframe. Also be on the lookout for any successful re-test of a previous resistance as support. Note that there is always a possibility that if BTC cannot break above and more importantly CLOSE above the Dashed Resistance Line, then it may still invalidate the H&S pattern by ranging sideways within a range for a prolonged period of time. I hope this is helpful with your Trading and Hodl-ing. Notes: LSMA = Black Squiggly Line on chart Bollinger Bands = Yellow Bands on chart VPFR POC = Short Horizontal Red Dotted Line on chart VPVR POC = Long Horizontal Red Dotted Line on chart Support Areas = Black Horizontal Lines with Yellow Shading on chart H&S Pattern = You know where that is ;-)
BITSTAMP:BTCUSD
by entertheroach
4
BTC - 4hr chart updateBTC is still below its Descending Trend-line. BTC needs to break back above and more importantly CLOSE back above the Descending Trend-line before any long term recovery to the upside becomes concrete. BTC is back above its Bollinger Bands Middle Band Basis 20 Period SMA. BTC has dropped back under its Upper Bollinger Band which is expected after a large rise and expansion of the Upper and Lower Bands, so we may see some consolidation sideways within a range before the next big move. At the moment, BTC is back above its Least Squares Moving Average (LSMA) for this 4hr timeframe. A candle close above the LSMA is considered a buy signal for this indicator. At the moment, BTC is in the Equilibrium Zone of the Ichimoku Cloud using the 20,60,120,30 settings. Note that BTC has found some support near its Ichimoku cloud Leading Span A (Senkou Span A) support level. At the moment of typing this, BTC is below its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 8x 4hr candles that i have selected. BTC needs to close a 4hr candle above this level. Note that BTC is also still below its Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range. Note that the last 8x 4hr Volume Bars have been above its Volume 20 Period MA. If we look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) has crossed back over and above the Signal Line (Orange Line) which is a buy signal. Note that the MACD Line (Blue Line) has also crossed back above the 0.0 Basle Line and is now in the Positive Zone for this 4hr timeframe. Note that the MACD Line (Blue Line) is the highest it has been in the Positive Zone since the 1st Dec 2021. If we look at the Average Directional Index (ADX DI) we can see that Positive Momentum has dropped slightly on this 4hr timeframe with the +DI (Green Line) dropping to 25.97. Negative Momentum has also dropped with the -DI (Red Line) dropping to 13.99. Note that the Trend Strength is still slightly weak with the ADX (Orange Line) at 19.65 and still under the 0.0 Threshold. Note however that the ADX (Orange Line) is above its 9 Period EMA (Black Line) 18.58. The +DI (Green Line) need to stay ABOVE the -DI (Red Line) on this 4hr timeframe for any long term recovery to the upside to last. If BTC can eventually make it back above and more importantly CLOSE back above the Descending Trend-line then BTC will possibly rise to about $53,360 where it will find its next major resistance. The next major resistance after that will be the VPVR POC around $57,175. If BTC cannot close back above the Descending Trend-line then BTC will eventually make its way to its major support level between $45,820 - $45,409. If that Major Support Area fails then BTC will drop back to around $41,900. If BTC does turn downwards, then the LSMA and the Bollinger Bands Middle Band Basis will be crucial support levels on this 4hr timeframe. Here is a closer look at this 4hr chart. I hope this post is helpful with your trading and hodl-ing. Notes: LSMA = Black Squiggly Line on chart Bollinger Bands = Grey Bands on chart Ichimoku Cloud = Green and Red Cloud pattern on chart VPVR POC = Long Horizontal Red Dotted Lines on chart VPFR POC = Short Horizontal Red Dotted Lines on chart Descending Trend-line = Descending Black Line on chart Resistance and Support Lines = Descending and Ascending Dotted Lines on chart Major Support Area = Bottom Horizontal Parallel Lines with Yellow Shading on chart Possible Next Resistance Area = Top Horizontal Parallel Lines with Yellow Shading on chart
BITSTAMP:BTCUSD
by entertheroach
4
VTHO - 1d chart updateVTHO is back above its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. Note that the Upper and Lower Bands are moving sideways and have plenty of room to expand. VTHO is still above its Least Squares Moving Average (LSMA) for this 1d timeframe. VTHO is still above its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 5x daily candles i have elected. At the moment, VTHO is still below its Volume Profile Visible Range Point of Control (VPVR POC) for this chart’s Visible Range. Note that Volume has been increasing but the last 13x Volume Bars have closed below its Volume 20 Period MA. If we look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is still above its Signal Line (Orange Line) and is indicating Momentum is upwards at the moment on this 1d timeframe. Note that the MACD Line (Blue Line) still has a long way to go before crossing back over the 0.0 Base Line back into the Positive Zone. If we look at the Stochastic Indicator (STOCH) we can see that the %K Line (Blue Line) is above its %D Line (Orange Line) and has now crossed into the Overbought Zone. Being in the Overbought Zone doesn’t mean the %K Line will drop as it can go slightly higher and even range sideways within a range in the Overbought Zone for a prolonged period of time. If we look at the Average Directional Index (ADX DI) we can see that Negative Momentum has dropped with the -DI (Red Line) dropping to 21.60. Positive momentum has risen but is now slightly sloping down at 18.40. Not that the Trend Strength is still strong with the ADX (Orange Line) at 25.26 but note that the ADX (Orange Line) has dropped below its 9 Period EMA (Black Line) which is at 26.86 so the ADX has lost some Trend Strength but its still good because the ADX is still above the 20 Threshold. Be on the lookout for when the +DI (Green Line) crosses back ABOVE the -DI (Red Line) which will indicate that Positive Momentum is now dominant over Negative Momentum on this 1d timeframe. Here is a wider view of this VTHO 1d chart: Note that VTHO is in a Massive Symmetrical Triangle Type Pattern on this 1d timeframe. I have added a few Support and Resistance Areas of interest indicted by Horizontal Black Lines with yellow Shading. At the moment VTHO is trying to get back above its first resistance area. A successful close above this level will be a very good sign for continued upwards momentum. I hope this is helpful with your trading and hodl-ing, Notes: LSMA = Black Squiggly Line on chart Bollinger Bands = Grey Bands on chart VPVR POC = Long Horizontal Red Dotted Lines on chart VPFR POC = Short Horizontal Red Dotted Lines on chart Resistance and Support Area = Horizontal Parallel Lines with Yellow Shading on chart
by entertheroach
ADA - quick 1d chart updateADA is trying to close a daily candle back above its Falling Wedge Pattern. If ADA manages to close today's candle above the Falling Wedge Pattern then its next resistance will be found at around the $1.415 - $1.451 resistance area. ADA is back above its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe and has successfully re-tested it as support. Note that the Upper and lower bands have a lot of room to expand before becoming over extended on this 1d timeframe. Note that ADA is still above its Least Squares Moving Average (LSMA) on this 1d timframe. Note that ADA is still deep in the Bearish Zone of the Ichimoku Cloud and has a long way to go before it attempts to enter the Equilibrium Zone and then back into the Bullish Zone on this 1d timeframe. Note that ADA is above its VPFR POC for the fixed range of 7x Daily Candles that i have selected. Note that ADA still has a long way to go before it closes above its VPVR POC for this charts Visible Range. Note that Volume is still low on this Binance Chart but yesterdays Volume Bar did close slightly above its Volume 20 Period MA. Looking at the Moving Average Convergence Divergence (MACD), we can see that the MACD Line (Blue Line) is indicating momentum is upwards at the moment and note that it has been above the Signal Line (Orange Line) since the 15th Dec. The MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Base Line so be on the when the MACD Line (Blue Line) crosses back above the 0.0 Base Line into the Positive Zone on this 1d timeframe. Note that the MACD Line (Blue Line) has not been in the Positive Zone sine 17th Sept 2021 on this 1d timeframe. Be on the lookout for any successful re-test as support of the Upper Descending Trend-line of the Falling Wedge Pattern. I hope this is helpful with your trading and hodl-ing.
BINANCE:ADAUSD
by entertheroach
BTC - Descending Triangle on the 4hrBTC is in a Descending Triangle Pattern on the 4hr. A Descending Triangle is a Bearish Chart Pattern. Note that BTC has bounced off the base of the Descending Triangle 5 times as support. BTC is still under its Bollinger Bands Middle Band Basis 20 Period SMA for this 4hr timeframe. BTC has dropped under its Least Squares Moving Average (LSMA) and it looks like BTC will close this 4hr Candle below the LSMA which will be a sell signal for this indicator. The Moving Average Convergence Divergence (MACD) has also gone negative into a sell signal. If you are waiting to go long with BTC, I would tread very carefully as there could potentially be much lower prices coming up if BTC breaks below and more importantly closes below the Descending Triangle. I hope this is helpful with your trading and hodl-ing
BITSTAMP:BTCUSD
by entertheroach
ADA - The BB Middle Band Basis is a crucial level on the dailyADA is still below its Bollinger Bands Middle Band Basis 20 Period SMA on this 1d timeframe. Note that ADA has not closed a daily candle above the BB Middle Band Basis since 13th Nov 2021. ADA needs to 100% CLOSE a daily candle back ABOVE its BB Middle Band Basis and successful retest as support for any recovery to look promising. ADA has found some support from its Least Squares Moving Average (LSMA) level. Note that a daily close below the LSMA will be a potential sell signal for this 1d timeframe. Using the 20,60,120,30 settings we can see that ADA is still well within the Bearish Zone of the Ichimoku Cloud and has a long way to go before it can attempt to get back in the Equilibrium Zone. ADA is in a Falling Wedge Pattern on this 1d timeframe. This Falling Wedge Pattern is potentially BULLISH as it’s developed after the previous uptrend so it could be a Bullish Continuation. The Dashed Black line is a major support and ADA has bounced off it as support 3 times over the last 7 Months. A daily close BELOW this level will be a sign that we may see further downwards momentum on this 1d timeframe. Note that ADA is below its VPFR POC for the fixed range of 13 daily candles that i have selected. Note that ADA is also still way below its VPVR POC for this charts visible range. Note that Volume is still low on this 1d Binance chart and the last 9 Daily Volume Bars have been below its Volume 20 Period Moving Average. If we look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Basel Line on this 1d timeframe. Note that the MACD Line (Blue Line) is still above the Signal Line (Orange Line). If the MACD Line (Blue Line) crosses below the Signal Line (Orange Line) then that will be a sell signal on this 1d timeframe. Note that the MACD Line (Blue Line) has not be in the Positive Zone above the 0.0 Base Line since 17th Sept 2021. If we take a quick look at the Stochastic (STOCH) we can see that the %K Line (Blue Line) is under the %D Line (Orange Line) and at the moment is also starting to slope slightly upwards and is out of the OVERSOLD ZONE of the STOCH indicator but note that it is a fast reacting indicator. Be on the look out for if/when the %K Line (Blue Line) crosses back ABOVE the %D Line (Orange Line). ADA needs to stay ABOVE the LSMA and ADA especially needs to stay above the Dashed Black Line which is a major support line. If ADA cannot CLOSE back ABOVE the BB Middle Band Basis on this 1d timeframe then ADA will continue to go downwards over time. This goes the same for BTC, the BB Middle Band Basis is a very crucial level to keep an eye on. I hope this is helpful with your Trading and Hodl-ing. Notes: Falling Wedge Pattern = Descending Converging Black Lines on Chart Major Support Line = Ascending Dashed Black Line on Chart LSMA = Black Squiggly line on Chart Bollinger Bands = Grey Bands on Chart Ichimoku Cloud = Red and Green Cloud on Chart VPFR POC = Short Horizontal Red Line on Chart VPVR POC = Long Horizontal Red Line on Chart Volume Bars = Bars Bottom of Chart Volume 20 MA = Orange Line going through Volume Bars on Chart
BINANCE:ADAUSD
by entertheroach
4
VTHO - quick 1d chart updateNote that VTHO is in a Descending Channel on this 1d timeframe. VTHO is also potentially in a Symmetrical Triangle pattern. VTHO is still below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. Note that we may see the Lower Bollinger Band start to curve inwards if upwards momentum continues. VTHO is back above and has closed yesterday’s daily candle above its Least Squares Moving Average (LSMA) for this 1d timeframe. A close above the LSMA is a buy signal for traders who use this indicator. VTHO is still below its VPFR POC for this chart’s fixed range of 10 daily candles that i have selected. Be on the look out when/if VTHO closes successfully a daily candle above the VPFR POC. VTHO is still under its VPVR POC for this chart’s visible range. Volume is still relatively low on this Binance Chart and note that the last 5 daily Volume Bars have been below its Volume 20 period MA. Note that VTHO is still in the Bearish Zone of the Ichimoku Cloud using the 20,60,120,30 settings. For the longterm, we need VTHO to keep heading upwards towards the Ichimoku Cloud Equilibrium Zone on this 1d timeframe. Looking at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is curving upwards and looks like it may cross back over the Signal Line (Orange Line) which would be a buy signal of varying degree because the MACD Lien (Blue Line) is still under the 0.0 Base Line in the Negative Zone on this 1d timeframe. Note that we have not had a MACD Green Histogram since 11th Nov 2021. So long as VTHO stays above the LSMA, be on the look for a daily candle close back above the Bollinger Bands Middle Band Basis 20 Period SMA and successful retest as support. Also be on the look out for when/if the MACD Line (Blue Line) crosses back above the Signal Line (Orange Line) on this 1d timeframe creating a potential buy signal for traders who use the MACD indicator. I hope this is helpful with your trading and hodl-ing. Notes: Symmetrical Triangle = Ascending & Descending Converging Black Lines on Chart Descending Channel = Descending Parallel Black Lines on Chart LSMA = Black Squiggly line on Chart Bollinger Bands = Grey Bands on Chart Volume Bars = Bars Bottom of Chart Volume 20 MA = Orange Line going through Volume Bars on Chart Ichimoku Cloud = Red and Green Cloud on Chart VPFR POC = Short Horizontal Red Line on Chart VPVR POC = Long Horizontal Red Line on Chart
by entertheroach
BTC - Let's see where and how this daily candle closesA quick look at BTC/USD using the Ichimoku Cloud with the 20,60,120,30 settings as well as the Bollinger Bands and MACD Indicator. The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the Short-Term Momentum is sideways at the moment. The Ichimoku Cloud Base Line (Kijun Sen) is indicating that the Mid-Term Momentum is sideways at the moment. The Ichimoku Cloud Lagging Span (Chikou Span) is indicating Momentum is upwards at the moment. Note that the Lagging Span (Chikou Span) is still under the price from 30 Periods ago. At the moment BTC is fighting to stay in the Equilibrium Zone of the Ichimoku Cloud. Note that you can clearly see that BTC has found some resistance from the Ichimoku Cloud Leading Span A (Senkou Span A) level. We need this daily candle to close above the Ichimoku Cloud Leading Span B (Senkou Span B) level and stay in the Ichimoku Cloud Equilibrium Zone on this 1d timeframe. BTC is still below its Bollinger Bands Middle Band Basis 20 Period SMA. Note that the Upper and Lower Bollinger Bands are contracting inwards indicating momentum has slowed on this 1d timeframe. Note that BTC has been below its Bollinger Band Basis for almost 30 days. If you are still uncertain whether to buy in or not then a close back above the BB Basis and successful re-test as support will be a good sign of continued upwards trajectory. If we take a quick look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is still under the 0.0 Base Line in the Negative Zone. Note that the MACD Line (Blue Line) is curving upwards so we may eventually see the MACD Line (Blue Line) cross back above the Signal Line (Orange Line) which is a buy signal for traders who use this indicator on this 1d timeframe. It'll be interesting to see where and how this daily candle closes. I hope this is helpful with your trading and hodl-ing.
BITSTAMP:BTCUSD
by entertheroach
4
VeChain - A quick analysisVeChain was in a massive Rising Wedge Pattern and has broken below it. VeChain is now in a new massive Symmetrical Triangle Pattern. VeChain needs to stay above the Ascending Trend-line of the Symmetrical Triangle for any real upside recovery to take place. At the moment of typing this, VeChain is below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. We need VeChain to break back above and more importantly close above its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. At the moment of typing this, VeChain is above its Least Squares Moving Average (LSMA). At the moment VeChain has found support from the LSMA. We need this daily candle to close above the LSMA. At the moment of typing this, VeChain is above its Volume Profile Fixed range Point of Control (VPFR POC) fro this charts fixed range off 29 daily candles that i have selected. Note that yesterday’s Volume Bar ended in the Green and closed above its Volume 20 period Moving Average. It’s still uncertain if today will end in the green. The Average Directional index (ADX DI) is showing that the -DI (Red Line) is still above the +DI (Green Line) indicating that Negative Momentum is still dominant over Positive Momentum on this 1d timeframe. Note that the -DI (Red Line) has dipped slightly to 31.03 and the +DI (Green Line) has risen to 9.02 but it looks like it’ll be awhile before we see the +DI (Green Line) cross back above the -DI (Red Line) on this 1d timeframe. Note that at the moment, the Trend Strength is strong with the ADX (Orange Line) at 34.40 and still above its 9 Period EMA (Black Line) which is at 28.80. The Moving Average Convergence Divergence is indicating momentum is still downwards and note that the MACD Line (Blue Line) is still below its Signal Line (Orange Line) and is also in the Negative Zone below the 0.0 Base Line. We need to see the MACD (Blue Line) cross back above the Signal Line (Orange Line) on this 1d timeframe for any real recovery to take place. I would not get excited unless VeChain closes a daily candle back above its Bollinger Bands Middle Band Basis 20 Period SMA on this 1d timeframe. Here is a closer look at this VeChain chart. I hope this is helpful with your trading and hodl-ing. Rising Wedge Pattern = Ascending Converging Black Dashed Lines on chart Symmetrical Triangle Pattern = Ascending/Descending Converging Black Dotted Lines on chart LSMA = Black Squiggly Line on chart Bollinger Bands = Grey Bands on chart VPFRPOC = Short Horizontal Red Line on chart
BINANCE:VETUSD
by entertheroach
3
BTC Wedges, Megaphones, Channels and a partridge in a pear treeBTC is in an Ascending Channel on this 1d timeframe. Even if BTC drops to around $34,000, it would still be within this Ascending Channel. BTC is potentially in an absolutely massive Megaphone Pattern/Reverse Symmetrical Triangle on this 1d timeframe. BTC is potentially in a smaller Megaphone Pattern/Reverse Symmetrical Triangle on this 1d timeframe. BTC is potentially in a massive Rising Wedge Pattern. BTC is potentially in a smaller Rising Wedge Pattern. It’s almost certain that we will NOT get the 4th touch which would be on the bottom of the Massive Inverted Symmetrical Triangle, but on the Smaller Inverted Symmetrical Triangle we may get a 4th touch if the Rising Wedge Support & the Ascending Support Line both fails. BTC is still in its upwards Pitchfork Pattern (A,B,C) on this 1d timeframe. Note that BTC is below its Pitchfork Median Line on this 1d timeframe. At the moment, BTC has found support from its Lower Yellow Pitchfork Support Line. If BTC stays above the Lower Yellow Support Line then history dictates the Price will eventually gravitate back upwards towards the Pitchfork Median Line and possible encounter strong resistance before breaking back above it. The Ascending Red Support Line is also doubling as the Pitchfork Hagopian Line. At the moment of typing this, BTC is above its Least Squares Moving Average (LSMA) for this 1d timeframe. We need BTC to close this daily candle above the LSMA. BTC is below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. We need BTC to close back above the BB Middle Band before any real recovery can be considered. The Moving Average Convergence Divergence (MACD) is indicating momentum is downwards on this 1d timeframe. Note that the MACD Line (Blue Line) is still below the Signal Line (Orange Line) and is in the Negative Zone under the 0.0 Base Line for this 1D timeframe. If you are uncertain to buy in then wait for the MACD Line (Blue Line) to cross back above the Signal Line (Orange Line) on this 1d timeframe. Here is a closer look at this chart. Yep, this chart is pretty bonkers but i thought i'd do something a little different ;-) so I hope this is helpful with your trading and hodl-ing. Notes: Bollinger Bands = Grey Bands on chart LSMA = Black Squiggly Line on chart Pitchfork = A,B,C Pitchfork Hagopian Line = Red Line on chart Ascending Channel = Ascending Black and Green Lines on chart Massive Megaphone Pattern/Reverse Symmetrical Triangle = Purple Lines on chart Smaller Megaphone Pattern/Reverse Symmetrical Triangle = Black Dashed Lines on chart Massive Rising Wedge = Ascending Converging Black and Purple Lines on chart Smaller Rising Wedge = Ascending Converging Black Solid and Dashed Lines on chart
BITSTAMP:BTCUSD
by entertheroach
4
Quick BTC 4hr chart updateBTC Update: BTC is back above its Bollinger Bands Middle Band Basis 20 Period SMA for this 4hr timeframe. Note that BTC is above its Bollinger Bands Upper Band and we have expansion of the Upper and Lower Bands and this expansion is for positive momentum. Note that BTC is still in the Bearish Zone of the Ichimoku Cloud on this 4hr timeframe. BTC is also back above its Least Squares Moving Average (LSMA) for this 4hr timeframe. A candle close above this indicator is a potential buy signal for traders who use this indicator. BTC is back above its Descending Pitchfork Median Line (Black A,B,C). Note that we have a new C Pivot point for our Ascending Pitchfork Pattern (Red A,B,C). BTC is back above its Volume Profile Fixed Range Point of Control for this charts fixed range of 15x 4hr candles that i have selected. Note that BTC is still below its Volume Profile Visible Range Point of Control for this charts visible range. Volume on this Bitstamp Chart is still relatively low and note that the last 6x 4hr Volume Bars have been below its Volume 20 Period Moving Average. The Average Directional Index (ADX DI) is indicating a sharp rise in Positive Momentum with the +DI (Green Line) rising to 24.02 and the -DI (Red Line) dropping to 15,72. Note that the ADX (Orange Line) is at 17.83 and has started to curve upwards indicating the Positive Trend Strength is increasing in Strength. The 9 Period EMA (Black Line) is at 19.04 so we may see the ADX (Orange Line) eventually cross back over and above its 9 Period EMA (Black Line). We also need the ADX (Orange Line) to cross back over the 20 Threshold (Horizontal Dashed Black line) on this 4hr timeframe. The Moving Average Convergence Divergence (MACD) is also indicating a sharp rise in Positive Momentum with the MACD Line (Blue Line) back in the Positive Zone and above the 0,0 Base Line. Note that we also have increasing Green Histograms. Note that this is the first time since 15th Nov 2021 that the MACD Line (Blue Line) has been in the Positive Zone of the MACD indicator on this 4hr timeframe. I have added 2 areas of interest using the Parallel Channel tool. BTC needs to stay above the Lower Parallel Channel around $55,610 - $55,100 and this is BTC's potential bottom on this 4hr timeframe. BTC also needs to break back above and more importantly close back above the Upper Parallel Channel around $59,480 - $60,148. Closing above $60,148 takes BTC into the Equilibrium Zone of the Ichimoku Cloud, and also back above its Ascending Pitchfork Lower Green Resistance Line (Red A,B,C). It also takes BTC back above its Descending Pitchfork Upper Green Resistance Line (Black A,B,C) so this is an important area for BTC to close above. Note that because BTC is above its Bollinger Bands Upper Band, a retrace back under the Upper Band shouldn’t come as a surprise to you. It should be an interesting weekend. I hope this is helpful with your trading and Hodl-ing. Notes: Bollinger Bands = Grey Bands on Chart LSMA = Black Squiggly Line on Chart VPFR POC = Short Horizontal Red Line on Chart VPVR POC = Long Horizontal Red Line on Chart Important Resistance Zone = Upper Parallel Black Line with Yellow Shading on Chart Important Support Zone = Lower Parallel Black Lines with Yellow Shading on Chart Volume Moving Average = Orange Line going through Volume Bars on Chart Descending Pitchfork Pattern = Black A,B,C on Chart Ascending Pitchfork Pattern = Red A,B,C on Chart Support and Resistance Lines - Horizontal Dashed Black Lines on Chart
BITSTAMP:BTCUSD
by entertheroach
2
VTHO updateVTHO is still within its Symmetrical Triangle on this 1d timeframe. At the moment VTHO has found support from the Ascending Trend-line of the Symmetrical Triangle. VTHO is below its Bollinger Bands Middle Band Basis 20 Period SMA, VTHO needs to get back above this level on this 1d timeframe. At the moment VTHO is below its Least Squares Moving Average (LSMA) for this 1d timeframe. VTHO needs to close this daily candle above the LSMA because a close below the LSMA is is potential sell signal. VTHO is below its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 6x 1d candles that i have selected. VTHO is also below its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range. Note that the last 6x Volume Bars have closed above its Volume 20 Period Moving Average. If we look ate the Average Directional Index (ADX DI) we can see that Positive Momentum has dropped with the +DI (Green Line) dropping to 26.25 and Negative Momentum has increased wth the -DI (Red Line) rising to 19.26. Note that the +DI (Green Line) is still above the -DI (Red Line) on this 1d timeframe. The ADX (Orange Line) has also dropped to 25.69 and note it is still under its 9 Period EMA (White Line) which is at 27.29 for this 1d timeframe. If we look at the Moving Average Convergence Divergence (MACD) we can see that the MCAD Line (Blue Line) is still i the Negative Zone of the MACD indicator. If you are waiting to go long but are uncertain then be on the look out for when the MACD Line (Blue Line) crosses back above the Signal Line (Orange Line) which is a buy signal of varying degree depending on if the MACD Line (Blue Line) is in the Positive or Negative Zone. If we take a look at the Stochastic Indicator (Stoch) we can see that VTHO is now in the Oversold Zone of this indicator. Be on the lookout for when the %K Line (Blue Line) crosses back above the %D Line (Orange Line) with also the %K Line (Blue Line) crossing back over the 20 Line out of the Oversold Zone. First port of call is that VTHO needs to close this daily candle within its Symmetrical Triangle, then VTHO needs to get back above its LSMA and Bollinger Bands Middle Band Basis to get back on track. I hope this is helpful with your trading and hodl-ing. Notes: LSMA = Yellow Squiggly Line on Chart Bollinger Bands = Grey Bands on Chart VPVR POC = Long Horizontal Red Line on Chart VPFR POC = Short Horizontal red Line on Chart Volume MA = Orange Line going through Volume Bars on Chart Symmetrical Triangle = Converging Ascending and Descending White Dashed Lines
by entertheroach
ETHUSD - 1d chart updateAt the moment ETH is back above its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. Note that the Bollinger Bands Upper and Lower Bands have not expanded yet indicating there is room for more upwards volatility before becoming over extended on this 1d timeframe. ETH is also back above its Least Squares Moving Average LSMA for this 1d timeframe. ETH is in a Schiff Pitchfork Pattern (A,B,C). Note that ETH is above its Schiff Pitchfork Median Line and also above the Schiff Pitchfork Upper Yellow Support Line. At the moment ETH has found some resistance from its Upper Yellow Schiff Pitchfork Resistance Line. ETH is in a Rising Wedge patter. A Rising Wedge pattern is a potential Bearish pattern. To invalidate this rising wedge ETH will need to close above the top Ascending Trend-line of the Rising Wedge pattern. ETH is also in a Descending Channel which could turn out to be a Bull Flag. ETH needs to close a daily candle above the Descending Trend-line of the Descending Channel. At the moment ETH is above its Volume Profile Fixed Range Point of Control, for the fixed range of 7x 1d candles that i have selected. ETH is still above its Volume Profile Visible Range Point of Control for this charts visible range. Volume has increased on this 1d Binance chart and you can see that today’s daily candle will close above its Volume 20 Period MA. Using the Ichimoku Cloud settings of 20,60,120,30 but note I’m only using the cloud portion of the indicator, you can see that ETH is still safely in the Bullish Zone of the Ichimoku Cloud. The Average Directional Index (ADX DI) Is indicating that Positive Momentum has increased with the +DI (Green Line) rising to 13.21 and the Negative Momentum has dropped with the -DI (Red Line) dropping to 15.84. The ADX (Orange Line) has weakened by dropping to 25.80 and note its still below its 9 Period EMA (Black Line) which is at 28.43. Depending on what BTC does, its very likely well see the +DI (Green Line) cross back above the -DI (Red Line) which if it happens, would indicate positive momentum has fully overtaken Negative Momentum on this 1d timeframe. The Moving Average Convergence Divergence (MACD) is indicating that the MACD Line (Blue Line) has reversed upwards and is still in the Positive Zone above the 0.0 Base Line. Depending on what BTC does, we may see the MACD Line (Base Line) cross back above the Signal Line (Orange Line) which would be a massive buy signal for traders who use this indicator on this 1d timeframe especially if the MACD Line (Blue Line) is still in the Positive Zone above the 0.0 Base Line. A daily candle close above the Descending Channel & successful re-test as support will be a very good sign of continued upwards momentum. If that happened then we may get a MACD Line (Blue Line) Signal Line (Orange Line) crossover into a buy signal on this 1d timeframe. Obviously this will all depend on what BTC does tomorrow and over the weekend because as we all know, all other cryptos are rigged by Binance to crash when BTC crashes, it’s how Binance sneakily gets leveraged money back from the long Liquidations...... Probably ;-) Anyway enough of that Binance rant ;-) I hope this is helpful with your trading & hodl-ing. Notes: Rising Wedge = Ascending Converging Dashed Black Lines on Chart Descending Channel = Descending Parallel Dotted Lines on Chart LSMA = Black Squiggly line on Chart Bollinger Bands = Grey Bands on Chart Schiff Pitchfork = A,B,C Pattern on Chart Volume Bars = Bars Bottom of Chart Volume 20 MA = Orange Line going through Volume Bars on Chart Ichimoku Cloud = Red and Green Cloud on Chart
BINANCE:ETHUSD
by entertheroach
1
So what is going on with ADA?ADA is still within its longterm Upwards Pitchfork Pattern (A,B,C) and note that ADA is still above its Pitchfork Median Line. At the moment ADA has found support from its Pitchfork Upper Yellow Support Line. It is crucial that ADA continues CLOSING daily candles ABOVE this level! Note that the last time ADA closed below this level was 2nd Aug 2021. Note that ADA is still BELOW its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. Note that we have had expansion of the Upper and Lower Bollinger Bands and this volatility expansion is for the Negative Momentum. Note that ADA is below its Least Squares Moving Average (LSMA) for this 1d timeframe. Note that a close below the LSMA is considered a sell signal for this indicator. If we look at the Volume Bars on this ADA/USD Binance Chart we can clearly see that Volume is still relatively low and has been for a while compared to what ADA was getting in February 2021. Note that yesterday’s volume Bar was above its Volume 20 Period Moving Average but its closed in the Red. If we look at the Average Directional Index (ADX DI) the Trend Strength is increasing with the ADX (Orange Line) at 23.53 above its 9 Period EMA (Black Line) which is at 20.73. The -DI (Red Line) has dropped sharply to 19.93 and the +DI (Green line) has also dropped to 8.48. This tells me that while Negative Momentum has dropped, Positive Momentum is still poor so Negative Momentum is still strong on this 1d timeframe. The Moving Average Convergence Divergence (MACD) is indicating Negative Momentum is still strong on this 1d timeframe. The MACD Line (Blue Line) is starting to curve slightly sideways but note its is still under is Signal Line (Orange Line) as well as still under the 0.0 Base Line in the Negative Zone. Note that ADA has not been in the Positive Zone since 17th Sept 2021. For your viewing pleasure, here is a closer look at this 1d chart. So while ADA is still in a longterm UPTREND, it has sadly been stuck in a short to mid-term DOWNTREND since 2nd Sept 2021 which looks slightly similar to the 16th May 2021 - 20th July 2021 short-term downtrend. So what does ADA need to do to get back on track? On this 1d chart, ADA needs to stay ABOVE and more importantly keep CLOSING daily candles ABOVE its Pitchfork Upper Yellow Support Line. ADA also needs to get back ABOVE and more importantly CLOSE ABOVE its LSMA as well as its Bollinger Bands Middle Band Basis 20 Period SMA. We also need the MACD Line (Blue Line) to cross back ABOVE the Signal Line (Orange Line) and then get back ABOVE the 0.0 Base Line of the MACD Indicator. We also need the +DI (Green Line) to cross back ABOVE the -DI (Red Line) of the ADX DI indicator. I would not get excited unless ADA can achieve most if not all this on this 1d timeframe. I hope this is helpful with your trading and hodl-ing. Notes: LSMA = Black Squiggly line on Chart Bollinger Bands = Grey Bands on Chart Pitchfork = A,B,C Pattern on Chart Volume Bars = Bars Bottom of Chart Volume MA = Orange Line going through Volume Bars on Chart
BINANCE:ADAUSD
by entertheroach
3
VTHO - quick 1d chart updateVTHO has received a massive pump today. VTHO had broke out of its 'adjusted' Symmetrical Triangle today but at the moment it has retraced back under it, a daily close ABOVE the Descending Trend-line of this Symmetrical Triangle and a successful retest as support will be a very good sign of things to come. VTHO is above its Least Squares Moving Average (LSMA) for this 1d timeframe. A daily candle close ABOVE this indicator is considered a potential buy signal. At the moment, VTHO is back above its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. A continued daily candle close ABOVE this level is crucial. Note that the Bollinger Bands Upper and Lower Bands have expanded due to volatility and this volatility expansion is for positive momentum. VTHO is back above its Volume Profile Visible Range Point of Control for this charts Visible Range. VTHO is back above its Volume Profile Fixed Range Point of Control for the fixed range of 4 daily candles that i have selected. Volume has increased on this Binance chart and note that yesterdays daily volume bar closed ABOVE its Volume 20 Period Moving Average. I have added a Trend-Based Fib Extension as some potential targets. If you are long but uncertain, it might be best to wait for a successful daily candle close ABOVE the 0.382 TB Fib level The Average Directional Index (ADX DI) is indicating Positive Momentum has increased and Negative Momentum has dropped with the +DI (Green Line) at 36.5 above its -DI (Red Line) which has dropped to 16.35. Note that the ADX (Yellow Line) is pointing upwards at 26.02. We can expect an even bigger move up if the ADX (Orange Line) crosses back above its 9 Period EMA (White Line) which is at 29.17 so long as the +DI (Green Line) is still ABOVE the -DI (Red Line) on this 1d timeframe. The Moving Average Convergence Divergence (MACD) is indicating momentum is upwards at the moment. Note that the MACD Line (Blue Line) is pointing upwards & looking very likely to cross back over the Signal Line (Orange Line) creating new Green Bars very soon. VTHO will potentially receive a massive boost up if the MACD Line (Blue Line) crosses back ABOVE the Signal Line (Orange Line) and then back over and ABOVE the 0.0 Base Line which will take it into the Positive Zone. After such a big move up today a pull back should not come as a surprise, so a close ABOVE the Symmetrical Triangle and the 0.382 Trend-Based Fib Extension level may or may not happen today but instead tomorrow or potentially latest during the week. I hope this is helpful with your Trading and Hodl-ing. Notes: LSMA = Yellow Squiggly Line on Chart Bollinger Bands = Grey Bands on Chart VPVR POC = Long Horizontal Red Line on Chart VPFR POC = Short Horizontal red Line on Chart Volume MA = Orange Line going through Volume Bars on Chart Symmetrical Triangle = Converging Ascending and Descending White Dashed Lines
by entertheroach
BTC - 4hr chart with 2 Pitchforks and a cloudBTC is below its Bollinger Bands Middle Band Basis 20 Period SMA for this 4hr timeframe. Note that the Upper Bollinger Band is moving downwards and the Lower Bollinger Band is starting to curve upwards indicating volatility has slowed on this 4hr timeframe. At the moment BTC is back ABOVE its Least Squares Moving Average (LSMA) for this 4hr timeframe. A successful close ABOVE the LSMA is crucial for a recovery. BTC has found support from its support level at around $56,540. BTC has bounced off this level before on the 28th Oct 2021. BTC needs to stay above this support level, failure to do so will prob lead to a drop to the 2 support line at around $52,900. Using the Ichimoku Cloud Settings of 20,60,120,30 but note time only using the cloud portion, we can see that BTC is in the Bearish Zone of the Ichimoku Cloud for this 4hr timeframe. Note that we have had a Cloud (Kumo) Twist, the Leading Span A (Senkou Span A) has crossed back UNDER the Leading Span B (Senkou Span B) creating a new Red Bearish Cloud for this 4hr timeframe. Note that both Leading Spans are pointing downwards at the moment. Volume has increased on this Binance 4hr chart and note that the last 5 Volume Bars have been ABOVE its Volume 20 Period Moving Average. BTC is BELOW its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 5 4hr candles that i have selected. BTC is also BELOW its Volume Profile Visible Range Point of Control (VPVR POC) for this chart’s visible range. BTC has 2 potential Pitchfork directions on this 4hr chart. BTC needs to CLOSE this 4hr candle ABOVE its descending Pitchfork Pattern Median Line (Black A,B,C). If BTC closes above the descending Pitchfork Median Line then we may see BTC follow an upwards or sideways trajectory following the ascending Pitchfork Pattern (Red A,B,C). The Average Directional Index (ADX DI) is showing a strong trend with the ADX (Orange Line) at 38.32 and ABOVE its 9 Period EMA (Black Line) which is at 34.04. The +DI (Green Line) has dropped to 7.71 and the -DI (Red Line) has risen to 31.62 indicating Negative Momentum is stronger than Positive Momentum on this 4hr timeframe. We need the +DI (Green Line) to cross back ABOVE the -DI (Red Line) on this 4hr timeframe for any upwards recovery to hold. The Moving Average Convergence Divergence (MACD) is indicating negative momentum, note that the MACD Line (Blue Line) is BELOW its Signal Line (Orange Line) and is also BELOW its 0.0 Base Line in the Negative Zone. Note that we also have increasing Red Histograms. Even if the MACD Line (Blue Line) crosses back above the Signal Line (Orange Line) we still need the MACD Line (Blue Line) to cross back over and ABOVE the 0.0 Base Line into the Positive Zone for any longterm BTC recovery to become sustainable. It should be an interesting weekend for BTC. I hope this is helpful with your trading and hodl-ing. Notes: LSMA = Black Squiggly Line on chart. Bollinger Bands = Grey Bands on chart. Support and Resistance Lines = Horizontal Black Dashed Lines on chart. VPFR POC = Short Horizontal Red Line on chart. VPVR POC = Long Horizontal Red Line on chart. Descending Pitchfork = Black A,B,C Pattern on chart. Ascending Pitchfork = Red A,B,C Pattern on chart. Volume MA = Orange Line going through Volume Bars on chart.
BITSTAMP:BTCUSD
by entertheroach
2
Quick ADA updateADA has broken out sideways from its Descending Triangle. ADA is ranging sideways. ADA is also in a Symmetrical Triangle pattern, which is indicated by the descending and ascending dashed black support and resistance lines. ADA is now in a massive Bollinger Bands Squeeze. A big move should be expected, what direction that is, remains to be seen. ADA is still below its Bollinger Bands Middle Band Basis 20 Period SMA on this 1d chart. Note that ADA has not closed a daily candle above its BB Basis since 15th Oct. At the moment, ADA is below its Least Squares Moving Average (LSMA) on this 1d chart. ADA needs to close this daily candle above the LSMA. ADA is above its Volume Profile Fixed Range POC for the fixed range of 5 daily candle that i have selected. ADA is also back above its Volume Profile Visible Range POC for this charts visible range. Overall Volume on Binance is still relatively low when compared to what ADA had a few months back around 25th August but note that the last 3 Volume Bars have been above its Volume 20 Period MA. For your viewing pleasure, I have also added support and resistance zones indicated by the back lines with orange shading. The Average Directional Index (ADX DI) is indicating Positive Momentum has RISEN slightly with the +DI (Green Line) at 9.45. Note that negative momentum DROPPED slightly more with the -DI (Red Line) at 13.39. Note however that while the trend strength is still strong above the 20 Threshold with the ADX (Orange Line) at 24.65 but note its has dropped below its 9 Period EMA (Black Line) which is at 25.22 indicating a weakening of trend strength, which could also be because of the continued sideways momentum. The On Balance Volume (OBV) is indicating an increase in upwards momentum, but note that the OBV (Blue Line) is still below its 9 Period EMA. The OBV needs to cross back over the 9 Period EMA and stay above its for continued upwards momentum. The Moving Average Convergence Divergence (MACD) is indicating that we have had the MACD Line (Blue Line) cross back above the Signal Line (Orange Line) but note that the MACD Line is still in the Negative Zone under the 0.0 Base Line. So what does all this mean? ADA is in a Bollinger Bands Squeeze, its debatable as to which direction ADA will pop. If you are Long, signals to look out for on this 1d timeframe are: 1: A successful daily close above the Bollinger Bands Middle Band Basis 20 Period SMA. 2: Upwards momentum with Expansion of the BB Upper and Lower Bands with the BB Middle Band sloping upwards. 3: A successful daily close above the descending trend-line. 4: A successful daily close above the LSMA. 5: OBV Line crossing back above its 9 Period EMA. 6: ADX Line crossing back above its 9 Period EMA. 7 +DI Line crossing back above the -DI Line. 8: MACD Line crossing back over the 0.0 Base Line into the Positive Zone. A key thing to remember is that sideways ranging is done within a range, not at a constant price. Apologies for the lack of posting, I've been crazy busy filming. I hope this is helpful with your trading and hodl-ing.
BINANCE:ADAUSD
by entertheroach
5
VET - weekly chart analysisVET has broken back ABOVE its massive Symmetrical Triangle and has so far successfully tested it as support on this 1w timeframe. VET needs to 110% CLOSE this weekly candle ABOVE the Descending Trend-line of the Symmetrical Triangle. Note that VET is still safely above its Longterm Upwards Trend-line (Ascending Dashed Line) on this 1w timeframe. VET is still above its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. Note that VET has room to move up before hitting the Bollinger Bands Upper Band on this 1w timeframe. VET is still above its Least Squares Moving Average (LSMA) for this 1w timeframe. For this indicator, ABOVE the LSMA is a potential ‘BUY’ and BELOW the LSMA is a potential “SELL’. Note that VET is still above its Volume Profile Fixed Range POC for the fixed range of 5 weekly candle that i have selected. Note that Volume has increased slightly but note that the Volume Bars are still Below its Volume 20 Period MA. I have added various support and resistance areas on this chart and you can clearly see the interaction with theses area. Note that VET has found some resistance from its first resistance line. The Average Directional Index (ADX DI) is indicating that the trend strength is sideways but strong with the ADX (Orange Line) at 22.69. Note that the 9 Period EMA is above the ADX at 25.38 but is dropping. The +DI (Green Line) has dropped slightly to 21.79 but the -DI (Red Line) has also dropped slightly to 14.34. This indicates both positive and negative momentum has dropped slightly. We will potentially see a massive move upwards if the ADX (Orange Line) crosses back above the 9 Period EMA (Black Line) if the +DI (Green Line) is still above and moving away from the -DI (Red Line) on this 1w timeframe. The OnBalanceVolume (OBV) is indicating momentum is sideways within a range. Note that the OBV (Blue Line) has crossed back above the 9 Period EMA (Orange Line) indicating upwards strength on this 1w timeframe. The Moving Average Convergence Divergence (MACD) is indicating that we have had the MACD Line (Blue Line) cross back ABOVE the Signal Line (Orange Line) on this 1w timeframe. Note that the MACD is still in the Positive Zone above the 0.0 Base Line and note that we have had our first proper Green Histogram for the first time in 7 weeks. I have also added a Trend-Based Fib Extension to show some potential FIB levels if VET continues the upwards trajectory on this 1w timeframe. VET is also in a very thin Rising Wedge Pattern. VET needs to invalidate this bearish pattern by breaking back above it and successfully testing it as support on this 1w timeframe. What is interesting is that the Rising Wedge takes us right up to the 4.236 Fib Level at $0.5147. This is something to keep an eye on on this 1w chart. Note that this chart is looking at the longterm without taking into account what is happening on lower timeframes, which you should be watching & analysing as well. All in all, VeChain is looking great so it should be an interesting couple of weeks for VET providing BTC behaves herself. I hope this is helpful with your trading and hodl-ing. Notes: Bollinger Bands = Grey Bands on chart LSMA = Blue squiggly line on chart VPFR POC = Short horizontal red line on chart VPVR POC = Long horizontal red line on chart 50EMA = Yellow squiggly line on chart Symmetrical Triangle = Converging ascending and descending black lines Rising Wedge = Ascending converging dotted lines Longterm upwards Trend-line = Ascending dashed black line. Support and resistance areas = Horizontal black lines with yellow shading
BINANCE:VETUSD
by entertheroach
1