Dojistar2017

Dojistar2017

The Australian Dollar has some more room up shortterm as it looks likely to test the top end of the bearchannel around 0.75500 currently. Chances are that bears will be looking there to create another lower high to resume bearish momentum. Support tested against the lower 0.7300's recently sees some better support however as it stands for a better bottom from...

Dojistar2017

A double bottom and a break above the downtrendline should be ingredients for a further rise in this crypto. Ofcourse, at the minimum a higher high should be set for confirmation, i.e. a rise above 0.4782, the latest high. Some decent resistance could be seen after 0.5500/0.5700 zone. Eventually however, if the higher high is set a standard 38.2% or 50% Fibonacci...

Dojistar2017

Lower highs and lower lows show bears in full control in this crypto. A well defined downward sloping line connecting recent highs is the line to watch (red line). There are hints however that this market will show a stronger move; 1) A descending triangle 2) RSI still diverging positively To keep it simple; breakouts out of the triangle set the following...

Dojistar2017

6850 proved some better resistance for now as the market backed off again; bulls just could not get a higher high going but is was close. This implies that bearish momentum seems to lose some ground here. Also, the current setback seems to lose some steam as we saw there sessions with less conviction (a hammerlike session and a near doji). The question is if...

Dojistar2017

It seems like this coin is continuing the string of lower highs and lows marking bear's momentum. This pattern has to be broken in order to see a change in direction. Also here the Bollinger Bands are tightening and this could see a better move ahead (see previous event at the arrows). The bigger question is ofcourse if market will set a lower low after this...

Dojistar2017

With the Bollinger Bands tightening and market at more critical levels it is likely to see a better move coming up short-term. Bears are still in firm control as the pattern of lower highs and lower lows is still unbroken. A downward sloping line holds any attempt north in check (around 0.03650 currently). Should market break below the latest low (0.03449) the...

Dojistar2017

Market is testing 6850 resistance and has not broken above yet. If bulls can accomplish this it is likely to see a move further north toward the overlying downtrendline, connecting recents tops, closing in on 8100. Should market back off from here there is the possibility of the formation of an inverted head and shoulders pattern and thus one could be looking for...

Dojistar2017

The market is testing 6850 resistance after bulls profited from earlier positive divergence by the RSI indicator. The overlying downtrendline is a reasonable target for now, closing in at around 8100. Look for a move towards there if 6850 gives way. Support is seen on dips toward 6420. Think of the possibility of the (inverted) left shoulder of an inverted head...

Dojistar2017

This coin is just above the top end of the bearchannel that has been in effect since early May. When staying above, the market could test the 0.5500/0.5700 resistance area which could see intial problems. Conquering that area could see a better move north where Fibonacci's should be watched for resistance (0.6200/0.6800/0.7440). Support is seen at 0.4850 and 0.4600.

Dojistar2017

A well defined bearchannel is haunting this market. The RSI indicator has jumped out of oversold territory again which could be a hint that a countermove may be seen but what bulls really need is to break the string of lower highs and lows. The top end of the bearchannel is seen at 92 while 87 sees the Bollinger Bands midline. This area stands for the first...

Dojistar2017

In the last analyses I pointed out possible positive divergence by the RSI indicator which is a stronger sign for a bottom. With the Bollinger Bands indicator narrowing a bigger move may be on it's way, and wthis tiome it could go north. The best sign for this is when bulls can set a higher high on this daily chart (a move over the latest lower high around 6850)....

Dojistar2017

After a double top against 80.50 this market corrected a standard 38.2% Fibonacci correction. Bulls entered again close to the 72.50 floor and prevented a lower low in a wider view. With this in mind and the break above the shorter term downtrendline, bulls should try to get a higher high going, i.e. a move over 80.50. 83.50 is then a candidate. Have to keep...

Dojistar2017

The possible (near) double bottom I discussed earlier is being retested and still holds; could see several stops being hit once below which can see a test of the lower end of the Bollinger Bands, currently just above 0.0350; A break below that 0.0375 seems discouraging but it is important how market reacts next; is it able to climb and close above 0.0375 again?...

Dojistar2017

0.4550 Is the low from april 1st (0.4541 to be exact) and below it some stops could be hiding. I.e, market may slide fast below but interesting to see (if broken) what happens after such an event; can market create value below this price or will market recover above again once stops are hit? Watch such action closely as rejecting sub 0.3450 prices can be a hint...

Dojistar2017

Bears again provided a lower high within the bearchannel causing a move toward the low end of this bearchannel in this news-driven market. The low end is seen around 5550 which together with 5400 sees the better support zone should value be created below 6000. The latter is still not broken significantly. The only positive thing for now is the RSI indicator; this...

Dojistar2017

It is clear bears rule for now in this market as it is trapped within a smaller bearchannel which is on itself is caught in a bigger bearchannel. Some signs however market could have found a floor: - A hammer has emerged and has been retested (first arrow) - A double bottom is seen (two arrows) - The RSI has already broken above it's own downtrendline These...

Dojistar2017

The big 110 support level has given way and market sees lower highs and lows within a shorter-term bearchannel. 110 should now act as the better resistance on eventual pop-ups. If a better ceiling is found, more downside can be expected. The 90 to 88 area is decent support however and may hold for now; downside risk extends to 72 once below. For now the 110...

Dojistar2017

The Bollinger Bands tightened enough to see a bigger move which was with the current bearish trend. The more critical 6000 support level is again the focus it seems. Most likely this level will get tested again. Watch it closely as a break below may see some panic selling. It is important how the market handles action after such a break; One could see a quick...