Looking on the 4H, price has broken and closed above an area of resistance. When this happens it is expected that price must then retest the broken structure to continue up...or fall back into the zone which would then be a false breakout. If the next few candles can close above this level showing some price rejection, this may be an indication of a possible leg...
Price has currently broken out of the falling wedge , which is bearish in nature but a bullish pattern , and is now retesting the broken zone. We can expect a bullish impulse after this retest. However, it will be best to react to a move rather than enter too early. There is still a possibility of BTC dipping some more to finally retest ~40k. Alts will follow...
TOMO had me bleeding for a few days after the fake breakout; however, price has finally broken and closed above the previous ATH, and now is retesting the broken zone, now support. I've already taken profits and plan to let the rest run as a risk free trade. Given the next 2 candles are bullish and show strong price rejection, I may allocate some more funds....
After the short reversal from 51k, I decided to look at the charts from a different perspective and noticed what seems to be an inverted H/S within an ascending triangle. There is currently strong resistance just under 52K. If we can break and close above 52k then without a doubt, I feel that will confirm that the bulls are completely in control. If I extend most...
Price has currently printed an M pattern, which is a Harmonic Bat formation. I left it off the chart to keep things cleaner. Price has also broken out of the long term up-trend line. We can expect a re-test of this TL and also a retest of the midline/previous support now resistance. In addition to this, I've heard some good news about Yearn Finance. I'm not too...
Looking at the short-term, and purely from a Harmonic Pattern perspective. Price has printed a few M & W patterns continuously within this 50-44k range and is currently at a key infliction point for the completion of a W reversal pattern. Check comments for a visual.
Potential H/S Pattern. Currently retesting strong support and showing price rejection at 61.8%.
KSM has been able to show some resilience over the past few days relative to the other Alt coins. Fundamentally, I believe it will continue to grow in price, due to reasons mentioned on the chart. Technically, we are still on an uptrend, and holding above a strong area of support. If price does happen to close below this level, there is still the 38, 50 and 61%...
Ascending Triangle, I expect a break coming soon, lets see. What are your thoughts?
Saw a development in a project this team is working on, and had been watching this coin for the past few days to see the reaction. It took a while, but it seems that traders/hodlers may have noticed this ALT being extremely oversold. Also, there is a huge Shark Pattern printed with huge upside. This pair isn't offered on Binance so I wont be able to test this...
Price is currently testing the 50% level and the top of the descending channel. As demand rises for AAVE, we will get the momentum needed for this break. (soon imo). Check comments and links for my previous analyses. Let me hear your thoughts.
Reasons not to enter...yet: 1. Haven't had the daily reversal close yet. 2. News hasn't been released yet, and it could be the opposite of what is expected. 3. Possible liquidity grab before continuing up. As of right now, these are the only reasons I could see that would prevent entry. In terms of news, it is possible that expected results might be exaggerated...
Reasons not to enter....yet: 1.GCAD is currently on an area of strong support. 2. GDP Data for Canada will be released tomorrow and its expected to be bad. Bad news for Canada = Appreciation of GCAD. 3.Price has respected this this lower trend line multiple times. Price has printed a rising wedge. Bullish, but bearish in nature. We should expect a break at any...
Reasons not to enter: - We haven't had a close daily close within the channel. - Price is above 20EMA showing bullish momentum to top of BB. - There's still a lot of bullish momentum. There is a possibility to break out and continue higher to form another harmonic pattern at the last high, from which we could have a pull back to retest the broken TL and...
Reasons Not to Enter: 1. Strong bull momentum 2. No clear signs of reversal 3. Still expecting News 4. May be too easy of a trade, possible spike/breakout 5. Decent Support on the Weekly TF. 6. Pierced BB on Weekly. There will be a possible short opportunity if price can satisfy the needs listed on the chart. Let me know your thoughts.
Reasons NOT to Enter....Yet 1. If this wasn't BTC you'd wait longer 2. No clear indication of Up-Trend continuation 3. We can still fall to the TL 4. Most Technical Indicators suggesting more depreciation 5. Elon Musk is tweeting 6. No clear signs of buyer pressure 7. Haven't retest broken structure at ATH. If you can find multiple reasons as to why you...
Lets look for reasons not to enter. 1. There isn't any strong presence of bulls. 2. We're still within the channel. 3. BTC.D hasn't shown weakness in the short term as yet. All valid reasons, and until we can cross those out, there shouldn't be an entry. And if you're already in, if we dont cross these out within the next few candles, then it might be time to...
Looking at the price action, flow has caught quite a bounce. It was previously at the ATH then retested the broken resistance now support and then began to consolidate after which it started to form a descending triangle. After the drop from BTC on the 25th, Flow along with the other Alts followed suit and at this point a descending channel became validated in...