We all know that Tron has released it's infamous main net the 31st of March, and despite a price spice on token migration day (~May 21st), Tron's price action did not seem to respond well despite the massively updated software. My hypothesis is that Tron has simply been in a cup and handle ever since it's massive peak in January, and this downtrend is just the...
Hello Ladies and Gentlemen, welcome to this analysis on Bitcoin! So quite a lot of my past analyses were all about these pennant's I've been seeing. Well, two analyses ago a mentioned how we'd hit the bottom of the pennant and I thought we were ready for a drive to the top - and we did! I admit I got a little hasty on my last analyses, thinking I saw a retest when...
In some of my earlier posts, I wrote about a pennant that had been forming, denoted by the black resistance line and the dashed gray line. Soon after, the pennant broke to the downside, resulting in a 22.6% drop in price. The end of the fall coincided perfectly to create a brand new pennant, denoted by the solid black support line as well. BTC tried to rally back...
Based on my last pennant, whose bottom line is the dashed transparent black line, we began shorting at 7660. As of now, that lands us a healthy 11.6% profit; not bad! I would close some of it in a take profit move, as right now I have two possible scenarios for bitcoin. Conveniently, I was doing some good old zooming out to try and find a new market direction and...
Well, I posted my trendlines and my pennant, showed the inverse head and shoulders and mentioned the head and shoulders that Magic Poop Cannon had pointed out, and told you to place stop losses; I had mine set for 7660, which was about $50 under my trendline. While I admit that I thought Bitcoin would rally, I still made a point of setting my stop-loss just in...
Essentially the same logic spoken about in my previous article remains, but now I am faced with a massive pennant formation forming as well. While pennant formations are typically continuation patterns, which means it could continue the rise preceding the temporary bubble, but notice that it failed to make a new drive to the top of the pennant, instead choosing to...
Hello and welcome to all comers! Time for a crucial decision time in Bitcoin! As you can see, we are approaching the trend-line on the logarithmic scale that has already arrested major bearish falls twice, both times with violent rebounds. However, what I see on the chart are three bumps; the first taking us to our all time high before double-topping and falling...
Looking at the graph, we can see that the inverse head and shoulders refuses to reach it's potential for now, and, in the meantime, price has spiraled downwards. Whether it be the Mt. Gox whale (who isn't supposed to sell more Bitcoin until September at the soonest) or simply a natural market movement representing the opinion of the people regarding BTC, the drop...
For this analysis I decided it was time to zoom out a little bit, as things get a little bit unpredictable on the faster interval. There is a clearly converging ascending narrowing wedge that aims to finish the right shoulder of our massive head and shoulders; an interesting development, considering that ascending narrowing wedges tend to actually be bearish...
My Head and Shoulders last night was a little bit tilted but not wrong; adjusted it to match with the high set last night. Now, for the first time in a while, I'm not presenting a possible head and shoulders that may finish; it has literally just finished! A smaller head and shoulders launched us up from the bottom of the head, continued by a slightly narrowing...
Now, as probably the grand majority of people on this website are, I am a reader of MPC. I have noticed that as I am writing this, we are gearing up for a test of the top of the downtrend channel that MPC defined from time immemorial. While noticing this, I saw this head and shoulders in development, where the start of the next shoulder would be due to a heavy...
As you can see, I've identified and marked three head and shoulders, the last one wrapping up its formation. Once it finishes, which it does look like its doing, we have a good change of watching the price jump a decent amount upwards. Whether this is the start of another trend or just another failed attempt to hold back the bears will soon be made clear....
As you can clearly see on the chart, a beautifully precise inverse head and shoulders has formed over the past few hours. I don't know how many people will read this, but expect the price to hit the top of the downtrend channel that I defined a while ago and bounce off back up to the price target drawn. Not quite to the moon, but at least upwards! This may have...
Well, after a stressful month and a half, watching the market crash out from underneath us, technical analysis begins to shine the light at the end of the tunnel! I'm not the one who spotted this myself, it has in fact been quite the hyped up formation in plenty of ideas, but yes, the absolutely massive inverse head and shoulders has finally began the upsurge on...
As you guys can see, my channels, updated this morning, are holding. The price fell right after I called it (peep the last post), but temporarily got caught in a small support from the base of the bear flag before falling through again. I don't know if there are any support lines that will keep the price from dropping right down to the bottom of the channel, but I...
I realize that bitcoin has broken out of the lines that I drew yesterday; I nearly bought in before realizing that this is just another temporary peak and that the resistance line is not where I thought it was. The new line has reversed growth no less than four times, so don't buy in yet, and the crucial resistance for this channel seems to be solidly realized, so...
Prob not anyone is reading this but I'm writing a program that will but and sell breakouts on these growth channels for me, so comment if you want to potentially be a customer later; development might be a week or two but not much longer than that. In the meantime, watch for a breakout from the down channel to buy in, I'll create a up channel as soon as it forms...
