EbonyFalcon

EbonyFalcon

Well, I was hoping the price would consolidate for a while when it broke above the trendline and Fib 0.236, but it blasted off to Fib 0.618, instead.   Last nights CPI data must have been a major catalyst for this move.   I have bought Virtual at around $0.50 Nov last year and I haven't sold any yet.  I am bullish on Virtual and I intend to invest and hold for a...

EbonyFalcon Updated 

Yesterday, I published my analysis on Virtual protocol and wrote that I would buy when a certain conditions are met.  These conditions are: 1) Daily stochastics (9,3,3) reset and start to move upwards 2) Daily MACD remains above 0 level (bull zone)  3) 4H MACD lines cross and enter the bull zone.  4) 4H stochastics are not overbought territory (it is okay if...

EbonyFalcon Updated 

I just bought some XRP. I use two time frames to decide a trade entry - i.e. weekly/daily or daily/4h. 1) I use stochastic in a higher time frame to confirm the direction of my bias.  If I am interested in going long, I first look at the daily stochastics (9,3,3) is reset, crossed and pointing upwards.  2) If the first condition is met, I am going to check...

EbonyFalcon

ai16z had been going through a major price correction.    The price retraced to $0.91 at Fib 0.786 level (the last line of defence for the bull) and finally presented a strong bounce towards the upside.   All momentum indicators reached oversold territory and broke up the descending trendline.    There are some signs of strength, however, it is still too premature...

EbonyFalcon

I am going to buy when the following conditions are met: 1) Daily stochastics (9,3,3) reset and start to move upwards 2) Daily MACD remains above 0 level (bull zone) 3) 4H MACD lines cross and enter the bull zone. 4) 4H stochastics are not overbought territory (it is okay if the conditions above are met but it might experience a few more pull backs if...

EbonyFalcon

Strong buy 1) The price retraced to Fib 0.618 and strongly bounced up from the level. 2) Daily stochastics reached the overbought territory and now moving upwards. 3) 4H MACD is entering the bull zone and both MACD and RSI are forming positive divergence. 4) The price is broke above Fib 0.236 which is the last line of defence for the bear. I bought Aixbt...

EbonyFalcon

I am going to buy when the following conditions are met: 1) Daily stochastics (9,3,3) reset and start to move upwards 2) Daily MACD remains above 0 level (bull zone)  3) 4H MACD lines cross and enter the bull zone.  4) 4H stochastics are not overbought territory (it is okay if the conditions above are met but it might experience a few more pull backs if...

EbonyFalcon

Fart just formed higher high in the daily chart.  Stochastics (9,3,3) reached the overbought territory and are moving up.  The price also closed and moved above the previous week mid.  The next hurdle for the bull is to move above the the previous higher high which is the previous month high at $1.30 area.    Daily MACD is in the bull zone and daily stochastics...

EbonyFalcon

ai16z has been going through a major price correction.    The price retraced to $0.91 at Fib 0.786 level (the last line of defence for the bull) and bounced up.   All momentum indicators reached oversold territory and broke up the descending trendline.    There are some signs of strength, however, it is still too premature to open a long position.    When the...

EbonyFalcon

I had been accumulating SUI since last Sept when it broke above $1.0.   But yesterday I sold my SUI position.   It is probably not a good idea for many, but I did. My overall bias for SUI is extremely bullish and I believe it will go much higher once BTC decides to move up.    However,  both daily RSI and MACD were forming a very clear negative divergence over...

EbonyFalcon

Bitcoin bounced off the key support area very healthily in the last US session and most alt coins also showed a sign of strong recovery. I felt tempted to enter the market. It is nice to buy low, but I need to follow my own simple and basic rules.   Although it is tempting, Solana's current chart set up is not quite ready for long for me.   I use two time...

EbonyFalcon Updated 

I bought DEEP in stages in the orange square zone all under $.009.  The price reached 0.18 and 4H stochastic, and 1H MACD and RSI presented strong negative divergence.  Therefore, I took my initial profit.    I will wait for the price to correct and hopefully comes down to Fib 0.5 Level at $0.140.   if momentum indicators reset for the upside move in that region,...

EbonyFalcon Updated 

Last night (morning in NY), Bitcoin went above $100k and it looked like the crypto market was about to start a bull trend.  For Virtual, the 4h candle decisively broke and closed above the previous week's mid price and previous month's high price.  Stochastic and RSI lines both crossed and went into the bull zone.   MACD lines looked like they were about to cross...

EbonyFalcon Updated 

Bitcoin keeps retesting $91k area and forming a clear support line. There is a strong anticipation for the price to break above $100k and starts a parabolic leg up for the Bitcoin bull cycle. In am very careful in a situation like this to open a long position because there are a log of traps. Yesterday's daily candle held $91k support line but now the price is...

EbonyFalcon Updated 

My general bias for Solana is bullish but it will take a while for the bull to take control. I just published my view on Bitcoin and explain the chart set up and when to buy more. I will take the same approach for Solana. The market is very volatile and a lot of bull traps along the way. So I rather take a conservative position and wait for the right set...

EbonyFalcon

Sui peaked at $2.22 in April 2024. Prior to that, momentum indicators started to develop a major neegative divergence. Eventually, the price dropped below the previous higher high at $1.95 and went through a prolonged price correction. The same set up is emerging. The price recently reached $5.30 but now it is dropping below the previous high (not confirmed...

EbonyFalcon

My overall bias for VirtualProtocol is very bullish. I personally don't think Bitcoin macro bull cycle hasn't peaked so I am interpreting the current move of Virtual as the first major correction. Therefore, I am patiently waiting for the set up to buy. When I analyse the chart, I usually use two time frames. For more mature assets like...

EbonyFalcon

Virtual is currently going through a major correction.   After it broke below the previous week mid/the previous month high, it accelerated the downward move in the narrow descending parallel channel.   Today, the price hit the previous week low at $3.35 which is the previous major support/resistance level.  Is the low in? I think it all comes to Bitcoin's next...