Bitcoin is chopping around hard as it reaches the likely end of its consolidation period. But here we that Filecoin, after having gone through its own massive consolidation even before the dump, is reacting positively against Bitcoin's annoying moves to the downside -- moves that are taking other altcoins down with it. Take for example the move in the past couple...
Filecoin is looking good, after having consolidated a bit after its recent 30% breakout. Bitcoin is going sideways and, while it will probably break out (up or down, I really don't know) in the next few days, Filecoin itself looks strong and potentially set up for another leg to the upside. This reading is based on the 55 hour EMA, which Filecoin was dancing...
Filecoin had an excellent run in Q1-Q2, and rolled over earlier than the rest of the market. It certainly looks like it has corrected, and re-accumulated. Ready to run again.
Grin is a coin that some consider a 'failure', but I don't and it's probably my favourite coin. In fact I'm not sure how that failure moniker is calculated, since the project has always been a unreserved cypherpunk project. The high emission rate was by design, and it was only ever designed for the long haul. Bitcoin 2.0 some exuberant people called it during its...
Bitcoin is forming an rH&S, with the bottom being the corrective period. It is likely to come down and fill the regional volume gap, identified on the VPVR. One possible result is a period of filling that volume and failure to break up above this neckline. The other is that we see Bitcoin break that neckline and head up, but given how weak the previous topping was...
Filecoin has been progressing up very nicely in the past week. After breaking out a few days ago from a clear downtrending consolidation, it has climbed up with textbook breakouts level by level. Here, though, we are seeing a threat to reduce those gains on the BTC chart. Filecoin is testing its short term market structure again, and we don't want to see it lose...
Not much prose on this update. The chart should say it all. Things are looking good.
I'm pleased to see that Filecoin/BTC seems to be breaking to the upside out of a clear squeeze point. This is very good news for the prospects of this altcoin as Bitcoin continues its pretty reasonable and controlled correction. What we are seeing with Bitcoin is clearly not some blow-off-top type collapse ca. 2017; so far it is a healthy correction within what...
Filecoin has been consolidating/correcting during Bitcoin's correction, at the picture remains moderately bullish. While I was hoping for a breakout from this formation (a downtrending channel) already, I wasn't necessarily expecting it. We currently see FIL/BTC double-bottoming within this channel, which has led the asset into a compression zone above the...
Bitcoin has continued its correction throughout the last day, which is healthy and to be welcomed. This has put FIlecoin into, I argue, prime buying territory with the USD price going down to nearly $33. The reason this is, I argue, a buy is because of how well the FIL/BTC is holding up. Here we see the chart playing out like clockwork, with Filecoin so far...
The FIL/BTC pairing is already looking healthy as Bitcoin corrects with strong support (so far). Filecoin has retreated into the clear support zone of the market structure and has been bought up aggressively -- and we can already see a bullish divergence painted on the important 4-hour chart. The histogram was clearly trending up before the correction, and we are...
Bitcoin has corrected, and it has corrected with strong buying coming in across the market to prevent a hard dump. This is great news for the whole crypto space, and potentially for altcoins in particular: a gently correcting Bitcoin within a larger uptrend is the perfect environment in which altcoins have tended to run in the past. So Filecoin has retraced into...
Based on fundamentals and recent shilling, I expect Filecoin to have a lot of potential. But for now we have broken the market structure and are likely to head down toward $35. From there I will look at swing positions -- but for now the market looks like it needs to cool off unless Bitcoin pulls a rather large rabbit out of its hat.
We see here the FIlecoin/BTC has been defended on the daily close, right above the 55 EMA. True, the histogram is arching down which may imply the need for some more consolidation at this level, maybe more testing of the 55 EMA -- but if it can hold here, it will be well set up for another rally. Filecoin has got really good press lately from crypto influencer...
Grin looks like it wants to break out from the previous market structure, and possibly make another run up. Solid swing trade opportunity if this momentum holds, and if Bitcoin doesn't get too choppy as it threatens to break into a correction. A shallow Bitcoin correction could be good for alts, as altcoins historically thrive when Bitcoin is making shallow...
It looks like the medium timeframe downtrend is going to continue; it looks like this recent uptrend was the B wave correction in the long term ABC correction to the downside. At least, if things don't reverse VERY soon. Bears dumped this one in a very aggressive move so we can just as easily see a fugazi reversal back up -- but it seems unlikely.
We are potentially about to see Bitcoin's medium-timeframe uptrend give way. This is not necessarily a bad thing for the larger uptrend, and will give a chance for the averages to catch up. We can expect first support to starting coming in between $9.5-9.1k.
The grey band on the RSI is where Bitcoin has historically held during bull markets. Now, as the medium trend is perhaps pointing down, we should only worry about the constitution of the Long Uptrend if the grey band is lost. The histogram here is arch downing pretty clearly; we can expect a retracement probably for the next couple of weeks at least.