JungleOnion

JungleOnion

I'm still thinking this channel bitcoin has been trading ever since it started trading pretty much, holds its ground and will remain valid unless we break down from 5,000. As you can see, by the end of October, support in the channel is around that price, we can of course touch it in a fast dip, but if it breaks down that channel it means serious trouble. One that...

JungleOnion

I like how STEEM chart is looking, is touching right on trending support. I've seen this pattern multiple times, the one I remember the most was potcoin last year. You can go check that chart if you want, it did the same triangle until it reached the most narrow area in it and then it FELL. Yep. It fell freaking everyone out and that was the dip needed to take the...

JungleOnion

There's no need for complicated charts. That's all you need to see. How the momentum has been built up to this point so price breaks this trend that was established since January. This daily and weekly are showing that a new cycle is beginning. I'm not sure we will experiment again a pump in bitcoin price and a decline in altcoins. That's how it usually goes, but...

JungleOnion

Damn, I still don't like btc chart because of the weekly. The actual price to consider is the one that trades in the body of the candle. So if you go to the weekly with heikin ashi candles, you'll see that there was too much indecisiveness in price and the actual bodies were really thin in December and January. Aligning the bodies you get a trend that is still...

JungleOnion

Lets forget the news for a second so we can technically judge the situation. We have an observable support at around 10,000. That's obviously a strong psychological support. But that support is TOO OBVIOUS, meaning it won't act as support. We have been fed to think this is support because of how many times we have bounced off from it, but that is only training...

JungleOnion

So this chart is giving us a lot of info. We are at support at the not only weekly ichimoku cloud, this bullrun's trendline but also at the 2.18 fib extension we had from this bullrun (which conversely is the .50 retracement). So there's lot of perceived support. What looks ugly tho is the pennant that formed. Usually when is resolved in a dip, people definitely...

JungleOnion

The momentum and strength of the move look like the price is going to challenge the cloud. That encounter will define this cycle.

JungleOnion

does it need any explanation?

JungleOnion

So I think things look ugly. I think a healthy trend to follow would be the green channel but we would have to fall right back to it because we clearly pulled ourselves way out of that channel and now we are in too high territory where everything can happen and anyone anytime can start a snowball effect and plummet the price crashing lots of newly formed supports...

JungleOnion

Look at that gorgeous PnD in bitshares graph :) nothing more, nothing less. But regardless of price I think bitshares among other coins with decentralized exchanges will be big, the infrastructure is there, they just need volume and a new era of dex exchanges will proliferate. But anyway. These prices, I would consider fill some bags below 1.5k is quite prudent....

JungleOnion

Ok so bitcoin is on the move, that means that alts will do their thing too and for zec, this looks like anything below 0.074 is a bargain. Check those fibs, we might reach the 50% fib test it and see how resistance acts there, we're definitely passing the 31.8% by november - december. Its a pretty strong move, that daily stochastic shot up and now its stuck in the...

JungleOnion

so a long term idea for btc, If we break this top, we can expect easy 3438, and 3730, depending how things go, 4k. If we fail to break this top we might want to be searching the long term uptrend healthy line that we had before the accelerated growth from this year, but honestly I don't see that happening due to fundamentals. But there's always drama on bitcoin,...

JungleOnion

So this chart is going to be like a recap for myself but I'll be sharing it just if anyone want to have a constructive conversation about it :) The latest moves. We saw a bearish bat pattern traced in red and that was the pattern that broke the daily trend line and made everyone freak out, the move intensified and sellers just snowballed. It resulted in the...

JungleOnion Updated 

Ok so I know this chart doesn't look that good, everything looks like we are going to keep going down, stochastics pointing down, we rejected the .5 weekly retracement, we are under the cloud, BTC drama affecting the markets and any other indicator you might be using its probably telling you there's more downside. However, from around july 7 and 11 there was...

JungleOnion Updated 

bearish signs everywhere but now this, this bullish divergence between the stochastic rsi and price action. If you have any opinion feel free to comment. I'm also wondering how altcoins prices are going to react because of how much they have been bleeding, preparing for bitcoin's next big move.

JungleOnion Updated 

Price is touching the ichimoku span B and I am opening a long (short term) position to see how this bottom of the cloud acts in the next days. If this bottom of the cloud fails as support it might want to push it down all the way to 300 sats and that would be the bottom of playground 2, so in case that happens, I will open another position there. But pretty...

JungleOnion

It's breaking daily trendline, it could still be a fake breakout, watch out entering at this prices. We touch for a few minutes already the span A from the cloud at around .0124, I wouldn't be surprise we hang in the cloud for some time so we can enter our shorts and then ride the price down, lucky if you get your orders filled at 0.127.