Adam_Polinak

Adam_Polinak

The important thing for the bulls is for BTCUSD to stay within the triangle (lines 1 and 3) which will signal a continuation of the uptrend if it breaks above (1-2 days for breakout, I don't see it happening sooner but it could). The second thing is for bitcoin to hold the 50 hour moving average, if not, it could fall below the triangle. Line 2 shows support lines...

Adam_Polinak

It is at the end of the triangle I posted about yesterday. Look for a break out incoming.

Adam_Polinak

First I expect it to hold above the 50 hour moving average shown as support, which I discussed in a post a couple hours ago. If you chart the 50 hour yourself, you can see the major role it has played as support and resistance. There is also a bullish MACD crossover on the 4 hour, although not necessarily a leading indicator. If you check my previous posts, you...

Adam_Polinak

Ethereum is currently trading in this triangle on the 4 hour, which is a continuation pattern. Watch for a breakout to the upside incoming within 0-12 hours.

Adam_Polinak

The 50 Hour moving average held support on the recent rally, broke it and came down, and is now testing it again. As you can see, we had a nice pump up the last time it broke the 50 hour. However, based on all of my technical analysis I am unsure about this one and remain neutral. Comment your thoughts below!

Adam_Polinak

2 Hours Left.

Adam_Polinak

If you follow me you know I love bollinger bands. This chart just shows Ethereum coming back in to being in between the upper and lower band after being outside the upper band for a few candles (signaling overbought). I expect a continuation upwards in the coming days.

Adam_Polinak

Looking at bollinger bands on hourly and four hour, it has broken out of the lower band, meaning its oversold. It never stays out of the upper or lower band for more than a few candles.

Adam_Polinak

This is a simple Bollinger Band analysis, however, this is one of the best technical indicators in my opinion and figured I'd share since I've not seen other analysts on here use it. Near upper line = overbought, near lower line = oversold. So, it is in the center so the answer is no, it is not overbought. Long in the short term.

Adam_Polinak

This is what I am looking at right now. As I previously stated, the consolidation period may take 1-3 more days. Looking at the wedge, however, it may take up to the 21st of May for a breakout to either direction. I expect a breakout to the upside, however based on fundamentals. It will need to break the resistance of the bearish double top on the hourly.

Adam_Polinak

This is an update from my post yesterday about Bitcoin consolidation. Bulls stay in control as Bitcoin sets a higher low on the hourly even after a double top (very bearish sign) as it continues to consolidate. This is a great sign, look for upward action after the consolidation period which I predict to end within 1-3 days.

Adam_Polinak

I am looking for a pump up to $9400-$10,000 after the consolidation period. I am unsure how much longer the consolidation will last, however (1-3 more days would be strong). Consolidation at the top means this... another violent upswing likely incoming.

Adam_Polinak Updated 

This is a Bollinger Band & RSI analysis, which work well together. When prices move towards the upper line of the Bollinger Bands , it means the asset is likely overbought. However, we have seen the rally continue as bitcoin has stayed near the top of the upper band. It has now broke it. I anticipate some consolidation before the next move up with possibly some...

Adam_Polinak Updated 

Bitcoin is currently holding support nicely on the 50 hour moving average. If it continues to hold, prices will move higher as you can see the 50 day has a nice upward slant currently. I believe it will continue to hold. I am currently neutral watching how the next few hours go. This is because bitcoin has popped when it has tested this support, but the rallies...

Adam_Polinak

ETH breaks out of rising channel and now finds support on what was the original resistance line. It is my belief ETH will continue the upward momentum along with the greater crypto market and Bitcoin as a whole.