It looks like the inverse head and shoulders pattern I was mentioning a couple of days ago has completed and the neckline has started to break upwards. The head and right shoulder also look to have followed the upward channel trend support (white lines) fairly well, so although there is still some leeway for some slight downward dips, the potential is not...
With the w-pattern (double bottom) forming on LTC, in my opinion it looks like litecoin is currently riding the downward trend from its breakout (red line) before a potential break upward that might occur over the next few days. I mentioned before some long-term trends to keep an eye out for LTCBTC, but there might be some upward potential for LTCUSD in next few...
BTC has broken downward into a descending channel (red dotted lines) as I had mentioned was a likely scenario in previous posts (NOTE: Channels have been adjusted just slightly upward to match the trend). As I had mentioned before, this is the likely "good" case scenario for BTC as it sets up a slight retracement upward (as is occurring right now) then sets up an...
In the past week, LTCBTC broke out of the wedge of which I have been speaking for a while now, but now looks to be heading toward strong resistance as it hits near a wedge that has been forming over the past year (dashed blue lines). The wedge itself has the potential to go until either summer of 2021 or even into the end of 2021 (e.g., if the small, solid-yellow...
It looks like a short-term "moment of truth" is happening right now for bitcoin as it starts to approach the "channel cross" of which I mentioned in previous writings. One option looks like the price is hitting the top of the descending channel (dashed red lines) and it is then going to continue downward between 54.5K and 57K (a break near 57.5K would be better...
The dip I mentioned before looks to have started. However, it is interesting how there are two potential channels forming. The ascending channel (blue dashed lines) looks to have support a little below the current price, so it should give a bit of support in the case that a rise and further dip occurs over the next day. However, over the next few days there is...
LTC looks like it might possibly dip over the next few days setting up a potential bullish bounce from what I am seeing. Bullish continuation divergence for the previous upward trend looks to be presenting itself as Litecoin looks to consistently be fighting higher lows while RSI continues to dip. If the support holds between $175 and $190 forming a wedge, and if...
Algorand looks to be testing the top of an ascending channel (red dashed lines) once again similarly to how it did at the end of March. A break here could be a great sign for ALGO as it could signal a new ATH , but there is also bearish divergence forming both on the 4-hour chart (blue lines) as well as on the daily chart . If resistance holds here, it could send...
With regard to the bigger picture on the logarithmic chart for LTC, it looks like it is either time to jump past resistance (red line) or to bounce back into a wedge (between the red line and bottom white line). As always with litecoin, it is likely to follow the direction of its older sibling bitcoin in the short term. Either way, assuming that support holds in...
BTC just broke some key resistance (at red and yellow dotted lines) and is now heading to the top of an ascending wedge (around 60.5K at the dashed blue line). If indeed it is able to break this resistance, it looks like it could be headed to surpass the ATH in the blue channel upward. There is still some resistance at 60K and still a possibility that a pushback...
ETH looks to be hitting a bit of divergence in the short term (red dotted lines on price, volume, and oscillators) as things start to taper off as ETH continues in its upward short-term ascending channel (red dotted lines on price). However, this looks fairly good for ETH in the long term, as a retracement to the Fibonacci levels near 1.7K for the current uptrend...
To be clear, this is a chart for PLTR but the general conversation could apply to any swing trade. Also, I'm not looking for advice on my PLTR play, just curious to hear other peoples perspectives and strategies. My double bottom PLTR play is looking like it could be heading in the right direction (still couldn't fall apart...). If the price hits the...
Bitcoin headed downward and broke upward support (blue line) slightly about 12 hours ago as I discussed yesterday to near 56.5K and has since retraced back upward. However, on the way up, it looks like some bearish divergence has formed (yellow dotted lines on price and RSI) indicating a potential reversal. However, what I find especially interesting is how well...
Bitcoin has started to near the bottom of a wedge (dotted blue line) inside near the bottom of a rising wedge (dashed blue lines), inside of an ascending channel (solid blue lines). Generally all the above can be considered bearish signs on the horizon, however, long term support looks to be trending to support a continuation upward. Hence, it looks like a dip...
So far it looks like BTC refuses to go back into its descending channel (red dashed lines), so it is looking more and more like a break out so far. Meanwhile, alts continue to gain ground against BTC. This in addition to support from the daily chart looks to be trending well for bitcoin. If support above the top of the descending channel causes a bounce from here...
It looks like BTC broke out of a descending channel (red dashed lines), but will it stay out is the question. There is now an ascending channel (blue lines) going on inside the downward channel, so it could easily indicate a bear flag that can break back into the channel. At the same time, staying out of the channel would be really positive news for BTC,...
Although I should probably wait to publish this for a little more confirmation, I just wanted to point out the current short term rising wedge (blue lines). I posted yesterday about some hidden bearish divergence on the 4 hour chart, but it looks like BTC just broke out of the first line of resistance (dotted white line) and is challenging the downward channel...
It looks like there is hidden bearish divergence happening on the 4-Hour chart (red lines on price combined with red lines on RSI) for BTC. To me, this signals a likely continuation of the bearish trend in the short term (although I am always glad for a different analysis; if so please leave a comment). If the bearish divergence is the case, it looks like it...