Greeting fellow traders. BTC has formed a symmetrical triangle on the 4 hr chart with price descending from previously higher prices. These patterns are continuation/consolidation patterns which nearly always continue moving in the same direction from which they entered. I have drawn two areas of support for those looking to enter a long position or to cover...
NEO is making progress after sinking to around $50. The daily chart has a strong MACD crossover in play which could propel NEO back to the $92 area. There is strong resistance just above our current price, but if we break it, we've got clear sailing to several good profit locations.
HV
Since the end of December, everyone I know in crypto has been scratching their heads over the massive sell-off of our market in the midst of massive public interest and a flood of new money. It just kept on coming. Everyone had a different excuse. It was explained by Elliot Wave experts as a failure to complete previous cycles. Something that reminds me of our...
FUNBTC is retesting wedge support. If this holds then we are setting a new bullish trend and my target of .0001200 sats is in play. Much of this is dependent on whether BTC will fall from a falling wedge pattern recently created or complete the inverse head and shoulders pattern and move up. Yoyu can also see that the 200 day MA is acting as resistance on the 4 hour chart.
FUN has broken out of a large falling wedge it's been trading in since February 7th. We also have a 4 ema bullish crossover of the 8 ema, a signal I now use reliably to predict market direction. The MACD on the 4 hr and daily charts has crossed bullish and there's rising RSI. FUNBTC is a rising start in a sea of alt coin problems. Their parent company Funfare has...
There are lots of reasons to think we're going to have a major pullback on BTC and it's always easy to panic sell your positions only to have to buy back in when it moves up instead. We have a possible head and shoulders pattern forming on BTC that could lead to an explosive rise to + $16,000.
Last night I posted that the Stochastic RSI on the daily chart was indicating that we are on the verge of an imminent correction. Nothing has changed. We dipped to the $9,600 range over night but this hasn't changed that we are over bought and maxed out on Stoch.
Today on the 4 hour chart we have the 200 session MA as a major source of resistance at $10,091. As I...
BTC is making great gains and we're all happy, but stochastic RSI on the daily chart is showing over bought and a crossover that signifies an imminent pullback. I have a long term support line at $9259 and the 200 day MA at around $8200. I would imagine tomorrow will be a red day for everyone. A similar stoch rsi situation has happened several times and was the...
ETH is moving with other major assets into position for a breakout to higher prices. I extended the resistance line for the wedge as it's going to become resistance at the $970 area. Looking at recent support/resistance levels I would expect ETH targets to be between $970 and $1024. I also see a MACD crossover and rising RSI.
HV
BTC is moving toward the resistance line and set for a showdown. Price action broke down to the 200 day MA and then quickly recovered back to 8742 moving toward the HOD at $8888. If we break out and close above resistance it will be a clear sign we are moving toward the 9000+ level. If this breakout fails then we could see the predictions of BTC at $5000 become a...
We all know BTC has it's own rules. Last night it dropped to 7500 and then surged back into it's trading channel. Today we've crossed the 200 MA, we're close to a MACD cross over on the daily chart and have rising RSI signalling a strong move up. We should expect that soon we'll have a test of the top of the downward channel and either a break or consolidation at...
I usually trade on Kraken but look at Bitfinex as a determinant of market direction. ETH is still solidly above support and forming a double bottom. With BTC close to breaking the 200 MA on the daily chart, when will the market finally decouple ETH and BTC movement? I'm sure there are thousands of shorts just waiting to be squeezed. Etherium is a solid project...
If ETH can stay in the wedge we could see a weekend rally to the top of the resistance line at around $1100. There is strong support around $757.00. Keep your heads up.
HV
BTCUSD at KRAKEN has formed in a downward channel after breaking the lower support of the wedge created on Jan 17. This channel reached the pre-Tether USDT controversy price set in mid November. The resistance in this channel is near 13k and we could see a weekend rally to that line or we can sell off to the next major support at $5500. It appear that the India...
ETH broke support on the wedge it was trading in and followed BTC, like always. I've listed some possible buy opportunities. Watch BTC for clues. Don't go all-in. I'll be placing partial orders on the way down at support levels in case we get a trend change prior to BTC rebounding. Be ready to get out if it looks like a deeper correction.
If BTC falls then expect ETH to fall with it. It seems the entire cryptoverse moves with BTC down to the lowest alt-coin. But, if ETH finds support it will be at the lower wedge support around 1065-1075. If we bounce, place longs for a return to 1220 or the top of the wedge resistance line. Watch for another oscillation before a break out to the top or bottom....
BTC has been trading in a falling wedge since around January 17th, while everyone waits for the big correction to mythically low prices or for confirmation that the Bulls are back. The last 3 times BTC has approached the wedge support, RSI is where it's at now and we saw a nice bounce. For those trading other crypros, you should watch BTC prices trading in this...
