Here's what to expect next based on current price action. The most important trendline to watch for upwards momentum back in this market is the orange trendline. This trendline has represented many touch points of where sellers came in and have created multiple tops since BTC's all time high of $73,800. We also saw a breakout above followed by a failed breakout....
Here is an update to our previous post: Currently we have seen ETH perfectly test our trendline of old resistance flipped into new support. Right now ETH is creating the perfect structure to begin a leg higher. CPI is tomorrow which will have a big impact on PA. Will continue to update these posts as price develops, but for right now structure is holding well.
After our strong breakout yesterday, we were expecting a retest of our symmetrical triangle pattern. We have gone a little lower than a perfect retest, but I believe it is to fill the gap we created on CME. A daily close above our trendline would indicate a successful retest of our symmetrical triangle and also a successful liquidity test of the CME gap.
Here are the main things you need to watch in relation to the ETH/BTC pair. Weekly symmetrical triangle (white trendlines). Important level of support (yellow line) also 0.236 of current FIB trend. Weekly RSI Bullish Divergence (same/lower low in pair vs higher highs in terms of strength). If we break above our resistance level of our triangle then our expected...
So far we see ETH's key level in relation to BTC is continuing to hold. relation created a double bottom with a strong bounce from oversold levels on our RSI. This means ETH could start gaining strength against BTC. Will make a post of the weekly chart so we can have levels to watch.
Alongside BTC, ETH is also attempting to breakout to the upside. ETH has formed 2 bullish patterns. The first is a symmetrical triangle (white trendlines). Currently, we have already seen a strong breakout above that trendline. Of course, we could see price retest that trendline as old resistance action as new support. Price has also formed a 'W" pattern...
After our prediction of TSX:RLB 's bottom being in: RLB's price action has started to demonstrate the strength of how well this structure is being built. So far, The daily doji has marked the reversal. After having a swift move to the upside, price came down to retest our demand zone of strong support around $0.10. In doing so, buyers stepped in and have...
Here is an updated chart to our important callout on this weekly candle: We are starting to see BTC overcome the odds that were stacking up against it in the chart. We pointed out how price needed a successful close back above $69k. This weekly candle was successful in doing so which gives us some clues of what's next. The chart on the left shows the weekly...
Here is an update to our previous post: Support held within the pattern as we were predicting and now we are starting to see the attempted breakout. If price successfully breaks out of our symmetrical triangle here are the targets. Depending on how you measure move (purple lines) it would put our measured move between $81,800-$86,800. My personal prediction...
From my previous BONK post we outlined the key structure for you: Now we are seeing BONK respect that key level yet again. This has also formed a triple bottom on our daily RSI (green arrows). The only hurdle we need to get above is our "PA resistance" or the resistance trendline that has been formed from price action.
Based on our post made months ago, TIA is still heading towards $27. On the daily chart (left chart), we see price has thus far found support in our major liquidity zone. But our RSI is the most telling for when we will see explosive price action for TIA again. We have recently found support near oversold (green line), but the most important level is our RSI...
I made a post a few months back before we had a breakout of "triangle #1". Now we are forming a very similar pattern "triangle #2", but on a much larger scale meaning the breakout will be much larger than the first. We see a flat line of support around the psychological $5.00 level. This is clearly being established as an important liquidity zone. We also have...
Btc on the LTF (4H) is currently testing the 4H 200 MA. This is important because this moving average acted as support multiplies time before breaking below. Therefore, if we continue to close 4H candles below then we could have much lower to go. But, if we can regain the MA as support again, we could go back to test the highs.
Although, there is cause for concern based on TOTAL, some altcoins look like they have bottoming setups. Here are some bullish signals forming in the chart. If we do end up breaking down we can fall between $1-1.10 where the VRVP sits. But for the time being the bullish pattern remain in tact: - ARB looks to be forming a bullflag. - Lower low support trendline...
This weekly close will be very important to understand where BTC is at currently. It is not odd or unexpected to see price action struggle to break previous all time highs and based on the 4 year cycle theory we technically shouldn't see a break until OCT/NOV 2024. Although, I must say this cycle does seem to be different than previous cycle due to the addition...
A lot of people will not like this post, but it needs to be said. April 2024 is looking to be a bad month for cryptocurrencies. Of course with the right factors this can change but let me voice my concerns for the short term. Looking at the candle stick chart on the left, we can see March's monthly candle could not close above our 2021 monthly top candle. This...
On the 4H BTC is currently testing support. Price is clearly in a symmetrical triangle as outlined by the red/green arrows above/below the white trendlines. Also on our RSI we are seeing a bounce from oversold (green circles). A decisive breakout or breakdown from this pattern should be established around the halving if price continues to range. The only...
BOME is already up over 70% since our post made 2 weeks ago: Now we are seeing an Adam and Eve pattern form (as depicted to the left of the chart). This is when price established a "key level" (horizontal purple line - $0.0168), has a sharp drop followed by a quick rebound (ADAM), then is followed by a rounding bottom (EVE). Once the "key level" is broken...