James_D

James_D

Here we are testing the support of the previous reversal pattern (green box) after a dramatic semi double top last November. The good news is, price is still playing 2021's support and resistance well. The horizontal yellow line that price is resting on at time of writing is theoretically a strong one. It has been tested as both support and resistance in high time...

James_D

I love a good wedge and so does Bitcoin. Looks like a confirmation attempt here at the triangle for an attempt to move up to the top of the wedge again. Who knows at these highs though. Be ready and trade on confirmations!

James_D

A risky short term opportunity. Volatility to come.

James_D

Is ETH ready to start an extended run? If you recall, this was Bitcoin's top of choice in 2017. Major supports at 1400, 800 and 400.

James_D

Accounting for wicks, we can see a decent potential for a mid-term range which could lead BTC to form a rectangle bottom. The 30k area has very strong support, as seen by the quick moves upwards from those zones. This leads me to believe in the strength of the bottom of this formation. I am carefully watching to see what happens near the zone indicated by the...

James_D

I'm taking some liberties here, but that's what ideas are all about, right? If we take a macro view you can see that we never fully confirmed the ATH for 2017. Compounding this, we have this Frankenstein complex head-and-shoulders possibility. We may consider the peaks from Feb-May as its own H&S and we also must consider that they together form a head for an even...

James_D Updated 

The outcome of this symmetrical triangle will most likely determine the direction of the market in the coming months.

James_D Updated 

After an incredible year of dominance gains, ETH finds itself lower in a possible ascending triangle. Compared to BTC's symmetrical triangle, which looks more like a bear flag than a recovery pattern, this may be a good sign for the market as a whole. With the not-so-new PoW environmental concerns, it's possible investors will begin looking to more environmentally...

James_D Updated 

Our second attempt at the bullish falling wedge has failed (previous idea) and we now find ourselves testing major support levels near 7400. The failed wedge is an important indicator. As we are in the middle of a large symmetrical triangle I believe its failure is indicative of price action heading into 2020. While not picture perfect BARRs, I cannot help but...

James_D

We seem to be following a downward trend line (cyan, starting 6/26/19) which has acted as a baseline for a possible falling wedge which began taking shape after the 10/25 rally. Falling wedges have an average rise after breakout of 32% in a bull market and 26% in a bear market. An upside break of this potential pattern could eventually lead us back to the 10k area...

James_D Updated 

Rising price and faltering volume in this ascending broadening wedge has me cautious. Not to mention price is challenging major resistance at 6k. Multiple sell signals are appearing and strength is peaking. If BTC fails here and fails the wedge we may be headed for a test of the structure that developed late last year. This could put BTC in the $4180 range. Right...

James_D Updated 

In my previous idea, we had broken free from a descending channel and it appears to have confirmed. However, the downward volume trend and recent high at 4180 seems to have formed an ascending triangle. This could be good news but it's not time to celebrate yet. Godmode is showing *weak* buy signals, we are above the cloud on longer time frames, but momentum is...

James_D Updated 

I laugh, I cry. Bitcoin is taking a pause at the base of a large descending channel. Oversold conditions and a drop below the bands may indicate we're in for a short-term bounce towards resistance at 3485. Looking for confirmation above the falling wedge to enter a swing.

James_D Updated 

This symmetrical triangle is a very important one. It will most likely decide whether we break below the range (see 4h idea below) or stay within it. If it manages a northern breakout, we may see price test the 38.2% Fibonacci level, which is near the middle of the range. The RSI and MACD are pointing north but the Bollinger Bands are showing weakness. If it does...

James_D

COINBASE:ETHUSD is beginning to form a range between $113 and $160, just north of the recent $80 bottom. Meanwhile the RSI is showing signs of life. Unfortunately fundamentals are lagging. Recent downward action occurred in-time with the Constantinople delay. This marks yet another delay in a long list of those given by the Ethereum Foundation. As the upcoming...

James_D

The first thing we learn about technical analysis is that it's based on three assumptions: 1. The market discounts everything. 2. Price moves in trends. 3. History tends to repeat itself. If history repeats itself to a T, we may fall on long term support at 2800-3000 during a sideways trend. Following this assumption, we might expect the next bull run to...

James_D Updated 

This is my simple analysis. If you remove all thoughts of profit and loss, you're left with a simple falling wedge and a bright, innovative future. We may very well see new lows into October while this pattern completes. However, I do not believe in an extended future for this bear market.