The prices of bitcoin and alts looks to be trending better this last week. However, the largest concern I still see before feeling more "bullish" is volume. The following chart represents the logarithmic bullish trend of Bitcoin since its inception. As one can see from this chart, for the past few years, volume has been a key indicator that a reversal has...
A little over one month ago I posted about a wedge or possible bull flag whereby ALTs were approaching a potential "bounce or break moment" after which the trend broke downward both for the dominance wedge in addition to the total market cap for ALTs. However, during the latest bitcoin drops, I have noticed a trend whereby the "discount prices" for ALTs were...
Over the past year, alt coins in the crypto space have been taking quite a hit from the back-and-forth motions of BTC and ETH. Alt-coins are once again at their own recent lows when BTC was between $32-33K back in January despite the price of bitcoin dancing around a significantly higher $37-38K price today. I typically believe that ETH determines the general...
I have seen so much news and discussion for the past month that the falling market will have dire consequences for crypto. And although that is possible, I just wanted to call out that ever since the market declines in late December of 2021, Bitcoin has been showing divergence from the typical indexes. The following charts are of two common examples of how over...
As many of my followers know, I am typically not one to talk about stocks (as my username indicates, I largely talk about cryptocurrencies). However, I do typically make exceptions when the stocks deal with crypto and/or blockchain. In this example, I want to call out the falling wedge that has occurred with RIOT blockchain. Since the all-time high (ATH) at the...
The next few hours/days look to be a potential "break or bounce" moment for bitcoin. After the recent lows from January, a precipitous channel had formed and was broken upward (light-blue dashed lines) forming what looks to be a bearish channel for which the price current is dancing along the bottom (solid white lines). What is interesting is that bullish...
Recently Bitcoin broke out of a descending wedge (yellow dotted lines) to show a potential sign into a reversal uptrend. However, Bitcoin looks to be approaching some key resistance dancing around $43-45K. The current price is right around the 61.8% Fibonacci level from the drop back in May/June, but this also is the 38.2% Fibonacci level from the drop back in...
I have been watching this channel on the logarithmic chart for Tezos for almost a year now, and at least thus far it has consistently bounced near the channel bottom which is currently approaching. It looks further possible that a bounce might occur based on bullish reversal divergence on the daily chart for both MACD and RSI. The bounce will likely be dependent...
It looks like BTCUSD is showing some signs of reversal from the current downward trend. On the daily chart (left side), you can see that the price of bitcoin has migrated into a small downward channel that began at the beginning of December potentially forming a bull flag. This can further be seen as a bullish sign of reversal based on reversal bullish divergence...
Although things have not been looking great for bitcoin these past few days, it looks like there is a possibility for a reversal over the next few days based on the current trend. For the past few months, a falling wedge has been forming (dashed green lines) for BTC inside of a larger wedge (dotted blue lines) which looks like it might be in the form of an...
First off, this is not meant as any opinion towards Covid-19 (political, medical, or otherwise) nor meant in any way to dishonor any who have lost loved ones due to Covid-19, but rather I wanted to call out an interesting correlation that looks to be occurring. Recently TradingView made the confirmed cases in the US available broken down per state or country....
I am generally not one who likes to talk much about DOGE as it already gets far too much attention, but the current trend looks a bit interesting in my opinion. From what I am seeing, there appears to have been a breakout of a forming wedge (orange dotted lines) at the end of May after an initial bounce off of the 61.8% Fibonacci retracement level (based on the...
BTC looks to be indicating a potential breakout from the trend from nearly a month ago. First off, a quick recap: A few days ago, I mentioned the bearish logarithmic descending channel (orange lines) that BTC had been trending since April BTC then looks to have bounced off the logarithmic trend line (dashed yellow lines) Then a few days ago, BTC began...
Bitcoin looks to have surprised a few today as it looks to have potentially bounced off of the trend support I mentioned recently. I have recently changed back to the linear chart and what I find interesting is we are back in a potential wedge again (solid red and green lines). I feel like this is the movie "Jurassic Park" where the boy yells "we're back in the...
I just wanted to show a quick zoomed out picture of where the current support trend line is (yellow dashed line) that I have been mentioning lately relative to Fibonacci support. Although I have generally been going off of the Fibonacci retracement levels based on the low from last March (which has the current retracement level nearer to 34K rather than 32K), I...
BTC looks to have just broken wedge support that many have been speaking of recently. I think the question for many now is "is it in fact a bearish pennant and is a crash imminent". If a crash were to occur and the price stays in the descending channel (orange lines on the logarithmic chart), there is indeed quite a bit of downward potential to near 16-20K, so...
A critical moment is approaching for BTC over the next few hours as the price approaches the top of a wedge (bearish pennant?) which I mentioned a few days ago (white lines). A slight peak out of the wedge has occurred over the past few hours indicating a potential to break upward which can be seen as supported by a daily MACD cross (not shown). There is still...
It looks like BTC has managed to solidify a short term head and shoulders pattern that has broken the neckline downward. Based on the extension of the neckline from the head distance (orange dotted lines), it looks like the dip might extend near the 78.6% Fibonacci retracement level near 32-33K (although 35K is a possibility as well at the 61.8% Fibonacci...