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BTC is showing a bearish divergence on the daily (and weekly) charts. Coupled with declining volume and a head and shoulders pattern at the all time high, Bulkowski's Encyclopedia of Chart Patterns this a 92% probability of reversing here and correcting to the low $50k / $40k range.
XRP has formed a near text book diamond bottom reversal. Price moves within a diamond formation inside of supports and resistances for up to 6 months (we’re a little over at ~222 days) as volume declines towards the end of the formation before it breaks out. 87% of the time when price breaks outside of the formation it moves 15% - 35% higher. Currently price...
It's absolutely astonishing to me that "top" authors on the front page can't draw the most important trend line of BTC's structure and don't take that into consideration in their analysis. Over the past few days I've seen chart after chart jumping on the bull wagon. The latest impulse move got them riled up. "We've broken above major resistance... check out...
The cup and handle is one of the most easily recognizable charting patterns yet so many people don't know how to trade it. At first glance people see the cup then the throwback forming the handle and automatically think "This is going up! BUY BUY BUY!" But where exactly should they buy? I’ll preface with this: One key difference between trading and investing...
Currently BTC has found support at the 13 month baseline (green) and the daily candles are forming a bullish tweezer reversal formation. Looking at the expanded view BTC could be forming the right shoulder of an inverted head and shoulder formation and would support a move upwards to coincide with the halving that's approaching this May. RSI is nearing oversold...
Aloha from gorgeous Hawaii! I wanted to circle back on my previous BTC charts and make a few comments based on the updated price action. The main chart shows similarities to the 2017/2018 bull run and while the first three movements went as projected, BTC deviated on the 4th and moved up instead of dropping. Since then BTC formed a descending triangle (yellow)...
ALGO appears to have found support within 6% of the low and a spinning top candle on the daily coinciding with the RSI trendline suggests a reversal here. Targets are the green dashed downtrend line, avg. volume price (pink dotted) and the 50MA for an estimated 12-24% ROI.
Since my last VET chart price has declined and found support at the average price volume (pink dotted). Now VET must break above the downtrend (yellow) and back above long term support (green). It's quite common for pullbacks that breached long term supports to break above with little resistance. However, this signifies that price may easily break below it...
The matching green lines on the chart and the RSI show a bearish divergence which indicates a downward move is coming. Price currently bounced off of the 50MA (pink) and is headed towards a minor trend line from the June 27th peak (green dotted). If price fails to break above, I'd expect BTC to drop under the 50MA towards the green base line/0.5 Fib. It might...
EOS is showing some support and looks poised to move up. Weekly had a solid hammer candle followed by 2 doji which translates to a frypan bottom (support before reversal) on the daily. The daily 50MA and weekly 8MA show resistance right around the orange upper trend line, any of which are a target to exit. Taking profit at that resistance would net roughly a...
This is a risker trade with the sword hanging over BTC's head but given the way the market climate will be over the next few days before the sword drops there are some opportunities to make some quick swing trades with some alts. VET recently got some good news about their partnerships with Walmart China and have announced a $25mil buyback of their token over the...
It starts with the white bull flags. The 72 degree trend angle (yellow) is nearly identical to the current run's trend angle of 70 degrees. There were two distinct peaks created during the bull run followed by a minor correction then a continuation candle (circled in white and red). Once again there's been a identical pattern in our current run. In 2017 there...
First up is a hidden bullish divergence . When price makes lower lows and at the same time the RSI makes higher lows, the RSI will win and price will begin to make higher lows which leads to price moving up. Secondly I've circled instances when the 25MA crosses over the 50MA and each time price has moved up substantially. When BTC makes strong moves, alts...
XRP appears to be repeating a pattern that lead to a break above the 50MA. I've color coded the circles and marked the flow with arrows. As the XRP/BTC pairing drops, it compresses the candles so I apologize for having to cram everything together for the more recent price action. Mean reversion is the assumption that the price of any stock will return to its...
Yeah, I'm done typing like a moron. It takes way too long and I feel stupider. I now know what it feels like to be like some of the "top authors" on the front page of TV who only knows ideas that involve technical terms like to da moon or something will bull in it. Forgive me for the misleading title. Unfortunately clickbait titles is what people want, not the...
This is an update to my last idea showing new formations while keeping the same structure which has proven valid.
The chart is pretty self explanatory.