EbonyFalcon

EbonyFalcon

Solana price bounced back strongly yesterday and formed a daily candle with a massive bottom wick.  It is very bullish.   It was a great buy the dip moment for spot buyers and intraday traders.  However,  if you are swing trading with leverage, the momentum is still bearish.  I think it is not the time to open a long position for the following...

EbonyFalcon

Opened a short position based on 1H and 15 minutes. 1H MACD crossed to the downside.15 min MACD endered the bear zone.The 15 min candle closed below VWAP, EMA 21, Pivot R1, and previous day's high.  S/L 159.95 and P/T 153.95    Risk: Reward 1:1.84 When the price reaches 154.5 (the previous day mid price), I will move my stop loss to  the previous day high. 

EbonyFalcon

Bitcoin (and the rest of the crypto market) look very bearish. I am starting to hear and read "the end of the cycle" in youtube and x. I can see the reason why. 4H, daily and even 5D chart look pretty bearish. However, the weekly setup of momentum indicators make me think it is still too early to say the bull market is over. Please look at the blue...

EbonyFalcon

The previous daily candle closed below the previous month's low as well as the long held ascending trendline. Both 5D and Weekly momentum indicators and price action are strongly bearish. It seems that the current crypto market is heavily manipulated by market makers and it often happens on weekends when the volume is low. The price seems to drop sharply on...

EbonyFalcon

There is one major trendline that is gently sloping up in the daily chart. The price seems that it always comes down to the trendline like a magnet and is making higher high. All momentum indicators in the daily chart show hidden divergence which supports the continuation of the trend. Daily stochastic has reset and now is moving to the upside from the...

EbonyFalcon

The price failed to reclaim the recent high at $158.87 and closed below the previous higher high. It also closed below EMA21, EMA55 and ascending trendline. All momentum indicators enter the bear zone and lines are pointed to the downside. The similar price set up happened on the 17th July 2024 (blue vertical line in the chart) and it was followed by a sharp...

EbonyFalcon

I usually trade with two time frames. I tend to avoid to buy the dip. I rather buy the strength using momentum indicators: I just opened a long position using three time frames based on the reasons below: Weekly: The stochastic reset at 50 level and is moving to the upside - Bullish momentum building up. Daily: Both MACD and RSI lines are about to cross and...

EbonyFalcon

I use two time frames and momentum indicators to identify the timing of the entry. Daily stochastic had reset and started to move to the upside. Stochastic in the higher time frame is a signal for me it is time to start looking for an entry in a direction of the indicator in the lower time frame. I use MACD in the lower time frame. 4H MACD have crossed, is...

EbonyFalcon

My overall bias for Solana is super bullish. I like the weekly price setup. Weekly MACD, RSI and Stochastic are all showing the clear (not strong enough) bullish momentums. If you are interested in investing in Solana for the duration of the current crypto cycle, it is a good time to buy. However, if you are interested in swing trading (medium term), I...

EbonyFalcon

My overall bias for Bitcoin is bullish, and I invest in Bitcoin. Yesterday, the price sharply dropped below $100k, retested the previous week low and previous month mid level, and sharply recovered and closed above $101k. The volatile intraday price movement formed a massive daily hammer candle (a candle with a long bottom wick). It is the sort of area...

EbonyFalcon Updated 

I sold most of my SUI positions today. My overall bias for SUI is still bullish. However, there are some bearish signs in weekly and daily charts. My main concern is if the bear trend resumes in the higher time frame, it will take weeks and months for the price to recover. Meantime, I identified long opportunities in other crypto currencies. I rather...

EbonyFalcon Updated 

My overall bias for Solana is bullish.   The chart looks really good for the bull in the higher time frames such as monthly, weekly and 5D. I am considering to open a long position for swing trade and for that I us two time frames - daily for confirmation and 4H to identify an entry area. Daily chart: I use daily MACD to identify the general sentiment of the...

EbonyFalcon Updated 

If the current price action cannot make you bullish on Solana, nothing can.   I am heavily investing in Solana because fundamentals and technical are both so strong.  Solana is going to go up. BUT, if you are trading, I think it is good to wait a bit longer. The price moved very quickly from $169 to $295 (all time high) and pulled back to $231 at Fib 0.5. ...

EbonyFalcon

The price pulled backed to Fib level 0.618 and EMA21 and retested the previous higher high.  Now it moved above the previous month/the previous week's mid level.  All daily momentum indicators have crossed and are starting to move upwards in the bull zone.   It is a very bullish set up. 

EbonyFalcon

I just published my article on ai16z and my thoughts on Virtual is very similar to ai16z. The current chart set up for Virtual is pretty ominous, however, I am still bullish on Virtual. The new US president just came into the office and also his (and the rest of his family) meme sucked all the liquidity out of the rest of the crypto market. The market is very...

EbonyFalcon

Although the current chart set up is pretty ominous, I am still bullish on ai16z. The new US president just came into the office and also his memes sucked all the liquidity out of the rest of the crypto market. The market is very volatile and it is hard to do technical analysis at the moment. The one thing I can say is that it is not the time to be...

EbonyFalcon Updated 

Virtual protocol completed a strong correction from $5.1 to $2.2.  The price fell to the key Fib zone (Blue Fib line in the chart) bounced up with a strong bullish candle formation in the 4H chart.   The price broke and closed above the descending parallel channel as well as Fib 0.236 (orange Fib line in the chart).   As I mentioned in my last article, when the...

EbonyFalcon

I have a bag of Fartcoin.   I am planning to hold it for a while, but there is one possible trade idea using RSI in the daily chart. On Dec 8th, RSI lines cross to the upside in the bull zone and the price continue to go up until RSI lines reached the overbought territory and crossed to the downside.   If you opened a long position at the close of Dec 8th's...