Weekly trend-line stretching back to November 2022, is being tested around the level of 5,000 which is also a "psychological barrier" for price action to proceed going higher. A re-test of the breakout above the 4,800 level is expected in the near-term.
Bounce from $5.75 weekly floor of stretched trend-line connecting 6 lows in 3 years. This could easily lead back to the weekly roof at around $9 with a swift 2-4 week movement. A break below $5.75 would allow for $4.83 to be tested.
1) Most overbought condition since May 2021 on the weekly RSI 14. 2) Converging trendlines at 38,200 stretching back since late 2021 create solid roof tested 3 times at least on 2 separate trend-lines which would make for a very tough level to break, especially when it's this overbought. ***A correction down to retest the connecting lows trend-line since late...
The common assumption is that Bitcoin is crazy and unpredictable. But if we look at the big picture - A technically perfect picture appears, predictable looking at roughly a year and a half of trading. Connecting the lowest and highest points creates an ascending (rising) tunnel with parallel lows and highs. The current floor of the long-term trend is around...
A bullish flag pattern is a continuation trend which is built by 3 steps: 1. A flag pole, the size of movement up before the tunnel pattern started. 2. A tunnel pattern going down (flag) 3. Breakout above tunnel, movement up projected the size of the flag pole. Currently, we are step number 3. A breakout above the flag roof had been confirmed. A retest of the...
RIOT is basically a crypto mining company. Bitcoin right now is breaking to highest levels since 2022. RIOT's balance sheet is positive with more assets than debt. RIOT recently spent 290 million USD on purchasing new and advanced bitcoin mining rigs as well as a contract to buy a lot more of those in the future with MICROBT. Technicals show breakout after...
Big "falling wedge" consolidation pattern for aprox a year Nov 2021 - October 2022 upside BREAKOUT and RETEST confirmation. Since breakout, consistent higher highs indicating up-trend. 25300 is key resistance, with a weekly candle close above 25,300 , next immediate target could be 31,500, following with 36,900. A weekly candle break below 22,800 may lead...
Bitcoin just broke the key resistance level of the mid 44k's establishing a new high of 21 month since April 2022. The red circles on the chart indicate key breakout levels. 1) June 2023 the price rose above 26,800 with a daily candle close. 2) October 2023 the price rose above 31,400 with a daily candle close. 3) Jan 2024 the price rose above 44,700 with a...
Will keep this short. Market cap is passed 1 BILLION, Binance has it listed. Huge whales buying into it. Technicals: We have an ascending trend-line with consistent higher highs and lows. We have a falling wedge pattern with a close above resistance. MACD showing bullish divergence RSI showing bullish divergence Close above 0.0000030 on 1H close could be...
Key resistance at 1980-2006, peak of rising wedge pattern combined with horizontal resistance stretching back to 2020. Support of wedge is at 1911 and is a very probably short to mid term target of this technical movement within the wedge. A candle close above the 2006 mark may spark an immediate rally towards the next immediate key resistance at the ATH of...
76.80-77.10-20 is a crucial resistance level. A break above may lead quickly towards 80.80 and beyond. Keeping below may lead to retest of 74.90 to 73.20 support trend-line. 74.90 is the trend-line, 73.20 is a cluster of horizontal support. Keep to the range and be patient!...
What happens when a "falling wedge" pattern meets a long-term support line and they both bump into a potential Elon Musk takeover by Twitter? "Falling wedge" is a bullish reversal pattern. 0.85 is key resistance to pass for breakout up, confirming much further upside above. Support line goes back to October 2022 and confirms higher lows. Dogecoin is a POW...
WOW! Very clear parallels highs and lows ascending tunnel pattern appears on chart. Buy entry around current rate 0.092 could be an easy ~10% catch to the peak of the tunnel at 0.107. Stop loss below the tunnel floor at around 0.0877 to be safe for false break could be a great immediate trade with much lower risk than potential reward. Good...
Nice combo of bullish short-term indications. Support trend-line since October 2022 to today just confirmed again with aggressive bounce (3rd test of trend-line). 3 lows with middle lower low show potential for inverse head & shoulder pattern (bullish) with 1.2170 middle neck-line resistance , with daily candle close above 1.2390 may be reached very quickly. A...
Really simple stuff. Take the technicals combine it with SEC lawsuit looking very positive for Ripple (The prosecutors basically admitted that XRP token is not a security, making the lawsuit invalid). On another fundamental bullet point we have the XRP ledger paving the way for tokenization as it continues to mount up popularity. The technical aspect shows a...
Simple 1+1 equals 2. There's a couple factors here. 1) Long-term support since March 2023 kept with multiple re-tests. 2) Long-term 8 month wedge consolidation with recent Jan 2023 breakout up together with RETEST of that breakout at 74.80-75.20 as of today. If the week closes above this support, VERY high chance for continuation of breakout up and 80's-90's...
2 minutes to read and reveal the the matrix! 2 clear, important periods for EURUSD in the last close to 20 years of trading circled red on the chart. Period 1 - August 2020 - Feb 2022 "False break period" Initially, pandemic caused a rush of investment, landslide USD down as cash was poured into stocks, cryptocurrency, etc.. But peaking around December 2020, due...
Simple technicals combined with a broad perspective. 1) Resistance trend-line ongoing since April 5th was broken 24th may, indicating bull trend initiating. 2) Since breakout, connecting lows and highs are parallels indicating a consistent up-trend in the shape of a tunnel. The range of the tunnel is 0.980 to 0.916 , current rate is 0.911. A break below...