charterman

charterman

Think there are multiple arguments from a weak BTC at the moment. 1. failed to break back above diagonal trend line 2. failed to break prior horizontal resistance 3. forming a bearish expanding triangle under resistance 4. bearish RSI divergence The only positive at the moment is support of long term EMA. We will see who prevails..

charterman

Think something like this may play out. Exits from descending expanding triangles are usually quite volatile. This would also form an inverse H&S. RSI divergence on the 4hr chart, coupled with current fear ratings are a good combination.

charterman

Band has got my attention after the nice play through last time. Currently approaching a pretty strong resistance, but looking at the bottom of this is an advanced inverse head and shoulders and we are currently completing the last shoulder. The timing of this with BTC sitting at the ATH mark has me hoping for more. Next, we see an expanding wedge which would...

charterman

BAND looks nearly ready for something big. Will be keeping an eye out for the re-test of descending wedge and EMA. There also seems to be an expanding triangle, which may see its next move to $8.00 before meeting resistance. Am cautious though, as there appears to be a level of hidden bearish divergence on the RSI.

charterman

SO BTC did break through the smaller upward channel. Color me impressed! Good signs for a expanding triangle, which is nearly topped for now. Coincides with a previous 14k top, so heavy resistance here. BTC may need some time to regroup. There is still one wave up to go if it follows through with mr elliot, so i'm remaining on the fence. It still feels too early...

charterman

DOT is still looking good IMO. Im still not sure what caused this massive crash, but it has landed straight on previous resistance and proved itself as good support. Rounded bottom is still in place, inverse H&S is still in place, the triangle was still broken, and rsi indicated over sold. There is also currently bullish divergence on the one day scale between...

charterman

XRP has had it tough for a while now and it is currently looking worse than most alts out there right now. Rising wedge is not a good sign, as it approaches a mega resistance. I will be staying clear of this for a while.

charterman Updated 

This one has shown some volatility in a very short time period. After most probably making and breaking alot of traders, im thinking this one is good for a long term investment. My reasoning is descending wedge with very tightened volatility, a divergence in the RSI, and a longer timeframe support appearing. My guess at first wave would be approx 2.0, which is...

charterman

So I'm guessing PayPal had a good impact on the unexpected BTC pump. Its not often you see a chart break an upward channel... to go even further up! BTCs pump has led to the top of a larger time frame channel, so i would be very cautious from this point. Especially with and RSI thats more overbought than fidget spinners in 2017. EVENTUALLY, BTC will leave this...

charterman

DOTUSD Still looking very good. Expecting range to tighten over next few days in Symmetrical. Both the break of the descending wedge and inverse head and shoulders give me a significant bullish bias for the upward break. Expecting three waves up after the break, stopping for rest at each resistance point. Taking a stab here.. but would be nice to see this...

charterman

Another alt to watch. Massive descending wedge broken, and sitting on support of Bollinger MA. Too new for any other analysis atm. Seen a few people looking at the bearish descending triangle, but this has already been invalidated with the break of topside. I usually ignore massive movements at the beginning of chart patterns, if there is a stronger trend line...

charterman

BAND is looking HOT. Massive FIB bounce, broken descending wedge, and a massive change in market sentiment. Three great ingredients for a new pump IMO. :)

charterman

BTC currently travelling in a upward channel on the short term. I think this has peaked for now, so will be looking for support at approx $10,800, on the way down to bottom of channel. Think of the longer time frame, that BTC needs to hit support at around $10,300ish (depending on how long it takes) before pushing back up towards the upper limits again. For...

charterman

It took a lil longer than expected, but BTC has landed in target zone. Currently, we are now seeing divergence in the opposite side... but this could get quickly invalidated on another strong leg down. It looks like hell right now. I'm currently neutral for either a bounce here, or to see three waves down. Will play on broken trends. If we break down, im...

charterman Updated 

A rising expanding wedge and divergence on the RSI is never a good combo! Expecting a play down from here on the short term. Hoping this doesn't bleed alts too much further!

charterman Updated 

We got another leg up, which i think may be due to some good news surrounding Kraken, but ultimately i think this play is still happening. Its very rare to see a strong divergence like this get left. Due to the additional pump, the channel height indicates that we will fall even further to second green line.

charterman

The mean has finally caught back up to BAND's massive run over the last couple of months. Just in time to catch the 78% FIB too! Thinking now is a good time to start looking at longs.

charterman

Update from last chart. Still on track for $10,500.00. A descending expanding wedge has formed, and BTC looks to have been rejected at resistance and hopefully retracing one last time before the next big bounce. FIB looks to still back this level up perfectly from last wave. Feels like this retrace has taken forever at this point.