So I just noticed that BTC is nicely in a descending channel (red dashed lines) but also showing some bullish divergence in the upward channel (white lines on RSI and on price). I don't necessarily think this is any type of guarantee of a continuation back upward, but this does make me wonder a little if BTC is at the bottom of an upward channel. The long term...
BTC looks to have gone up quickly today, but then after coming back down it now just broken out of a descending wedge (red line with the blue line bottom) and now has broken down out of a seperate wedge with regard to RSI on the daily chart. There is also bearish divergence (white line on RSI) that has been going on for months as well as losing the short term...
LTC has dipped and looks like it may start to form a large wedge (orange line and white line). I think there is still a potential down to $180 as I mentioned yesterday, but it is largely dependent on BTC as the two look to be in lockstep once again (with a drastic potential change after this week, more on this in my previous posts). If however BTC goes...
DASH just broke out of what could be considered a bear flag which could mean it is about to head downward. What makes matters worse for DASH is it is about to hit the bottom of a long term wedge (green lines) right around the 50% Fibonacci level near $212. Although this is a great opportunity for a bounce, with the bear flag just breaking, it must also be...
I have been writing a bit about the long term downward trend (orange line) which has some good potential to last a while (potentially into the summer) if it continues to hold, but the short term wedge (red line and green line) looks like it will culminate within the week. Once again LTC is near the bottom of this downward wedge, so it should be interesting to both...
Bitcoin broke downward out of a wedge yesterday (orange lines), but still managed to find support from the upward channel it has been trending in since the last low at 43K (green dashed lines). Hence BTC looks to be treading on some precarious ground here. If the support of the green channel continues to propel a bounce, there are some potentials to rise up and...
It looks like LTC is now breaking downward out of its wedge (orange lines) and from what I see, it looks to be retracing back to the wedge (potentially to $200) before heading back downward. If it continues the long term upward trend (white lines) it then looks like it should be able to only dip around to $180. Not a horrible dip if it indeed is not a fake out and...
It looks like support held yesterday for bitcoin in the upward channel (dashed green lines). However, so long as the support holds in this channel, it looks as though a wedge could potentially form if the price heads back upwards from here (light blue dashed line). If that were to occur, the potentials could lead to a slight all-time-high, afterward another...
BTC finally broke out of its upward channel today (purple dotted lines forming a bear flag) and hit some expected support at 54K. I think the question of how bad things can get for BTC will depend on the next few days. BTC currently has a bit of support in the remaining upward green channel (around 53K), but this too can be seen as a bear flag, and if it were to...
BTC looked to retrace slightly after some dancing around 61K as expected. The part I find interesting about this latest bounce is how near BTC is getting to many trend lines approaching. For one, BTC just bounced off the hidden bullish divergence trend line (green dash line on RSI). But even more interesting I think is the rising support trend line that has been...
BTC looks to have nicely broken the all-time-high like I was hoping for yesterday. Now the question I wonder is how far until it retraces. I see a couple of options that seem most likely. There is a bit of resistance around the current price up past 61K, with some good possibilities to stay around or below 60K for a while. However, a large part of me wonders if...
Excellent little dip going on the 4-hour chart. Yesterday I had anticipated the possibility of a couple of dip possibilities, but now that one has started, I think there are some interesting possibilities. On the down side, BTC is near support for the upper trend line (purple dotted lines) of which I spoke of yesterday, and if that breaks, then BTC could likely...
BTC looks to be making a run toward the all-time high. However, RSI on the 4-hour chart (red line on RSI chart) has me concerned in that it is once again looking lower as we head up in addition to all of the surrounded resistance right now. Hence I really wonder: Will we double-top? Will we break through? Or will we hit resistance by the smaller channel (dashed...
Some (slight) bearish divergence showed up today on the 4 hour chart (red lines). This then looks confirmed with a bear flag (blue dashed lines) inside a bear flag (purple dashed lines). Hence, things are not trending well in the short term. The daily chart also looks to have accelerated a little too quickly and is starting to run out of momentum as well. Then...
DASH looks to be breaking out of a nice wedge (orange lines). However, what I find even more interesting is DASH also looks like it has an interesting uptrend over the past few months. When I move this trend line to the bottom, it shows our current trend going on right now (green lines). The more interesting part is we are currently at the bottom of the line...
ETH spent quite a bit of time between its 38.2% and and 50% retracement levels (more than other cryptocurrencies that I have been watching at least). But starting yesterday, it led the charge as it broke out and looks to be headed toward the 23.6% Fibonacci right around 1.8K. However, BTC has been around its own 23.6% retracement level for some time now (back and...
I was thinking that as prices have broken market structure we could see prices go back down to support level because of the ascending triangle that looks to be forming. Feel free to drop your opinions in the comments.
As I start to zoom both in and out a little on BTC and alts, I notice that there indeed looks to be a crossroads possible over the next few days. As BTC starts to break out of a downward channel, but with no push behind it even after a stimulus bill passing in the senate, it looks like over the next three days, there is a good chance for a fizzle out to rise...