Interesting candlestick development on the high time frame look at KDAUSDT. After initially breaking free of the downtrend from the highs, KDA printed an Evening Star pattern that essentially retested the lows around 40 to 50 cents. In the time since, it has potentially printed a Morning Star pattern off the retest of the lows. I say potentially because I'm not...
KUCOIN:KDAUSDT KDA failed to rally through resistance (R1) over the weekend and has since retraced to the 38.2% Fib level around $1.15. With the fed announcement likely to stir volatility across the markets I'd wager we likely come down to the area where S1 aligns with the trendline and the 50% retracement level at around $1.10. This also would be the breakout...
KUCOIN:KDAUSDT has consolidated nicely on this trendline this past week. Sudden moves to the upside haven't seen much follow through yet, but the support has been solid. Interestingly enough, looking at the 4 hour chart you can see another Adam & Eve bottom along the trend line. This would appear to be a fractal of the much larger Adam & Eve bottom put in place...
KUCOIN:KDAUSDT fighting to escape a bearish H&S pattern as it consolidates below the 200 DMA. A breakout higher from here strong volume, after rejection of what should've been an easy setup for the bears. A weekly close around $1.45-1.50 would be a major breakout for the crypto. On the downside, ideally $1.15 would be the support level to hold, with any break of...
Crypto markets continue to stew in the wake of the FTX fallout, and the prevalent "risk off" investor sentiment as the FED continues to wage war against record high inflation. The crypto market in 2022 has felt very much alike to that of 2018--which for those of you that weren't around, it was just a giant suckfest everyday. Coins that had promising futures and...
REP forming an extremely well defined Ascending Triangle on the 4hr chart. We're getting close to the end of this triangle pattern, so we should see a move outside soon. A breakout to the upside would imply a move to around $50, or around 40-45% from current prices. Given that $50.00 was our resistance level last week, traders entering long positions here could...
BTC appears to have confirmed upward resistance along the ceiling of the downtrend channel. This channel touch is a bit different as it clearly made two attempts and was strongly rejected on both occasions, printing a double top in the process. This could indicate a steeper more sudden drop rather than the gradual price drift lower as I think double tops are not...
BTCUSD has had quite the run so far this year. The inverted H&S pattern prompted the initial move up from the mid $7k area into the low 9's. Most took profits quickly upon reaching this target price range and it quickly retraced to the $8200 price range. Bears were unable to sustain any serious momentum further to the downside due to the Corona Virus shockwave...
Pay attention to BCH price action as we approach $370-400 levels. Most of the other technicals and indicators are leaning in favor of the uptrend to resume. Hopefully, we'll see strength pick up across the other alts as well to spur momentum and get BCH past this level.
Price action in past few days has led to the emergence of a Diamond pattern. Given that Diamond bottom reversals are pretty rare, I would not be trading this inside the pattern but wait for a breakout confirmation accompanied by strong volume. I don't like this pattern in general and is more often than not a bearish pattern. An upside breakout also has little room...
While it is historically (and notoriously if you're any kind of long in it already) a slow-moving biotech stock, when these sudden capitulation dips occur is when smart setups present themselves and the stock runs past previous support/resistance levels off pure momentum rallies from the lows in the large symmetrical triangle pattern. A potential run such as this...
