crypto_trends

crypto_trends

Bitcoin looks to have broken the ascending triangle (dashed blue lines) I mentioned yesterday. However, I missed an additional bullish sign with a short term inverse head and shoulders forming on the 4-hour chart (green triangles) that also had a neckline break earlier today (dashed green line). When the length of this pattern is extended at the breakout (dotted...

crypto_trends

BANDUSD looks to be setting up a fairly textbook cup and handle pattern over the past few days. I have been noticing a few cup and handle patterns forming that have become rather profitable over the past few days with alts (e.g., OXTUSD and KNCUSD). Hence, it looks to be a fairly profitable pattern for which to lookout for anyone looking for ALT patterns that...

crypto_trends

As I mentioned a few days ago, BTC looks to be continuing a slight dip after a neckline break (yellow dotted line) for an inverse head and shoulders pattern (green triangles) but now looks to be forming a bullish ascending triangle pattern on the 4-hour chart (green dotted lines). If resistance breaks upward, potential targets could be up to around 70K (green...

crypto_trends

UMABTC could potentially be forming a rounding bottom and on the rise part of the U-shape. This looks fairly nicely confirmed by MACD as well so far. It is still a little early to be certain, but support looks to have been holding quite nicely a few days now. From what I am seeing, if the pattern holds, there could be some potential large jumps for UMA if BTC...

crypto_trends

SKL looks to be continuing an ascending triangle pattern as I mentioned before. If the pattern continues, it looks like the next few days should be something to keep an eye out for a breakout potential around .85 with some resistance around the 38.2% Fibonacci retracement level. If that resistance does break (dashed red line), it looks like there is good...

crypto_trends

It looks like the inverse head and shoulders pattern I was mentioning a couple of days ago has completed and the neckline has started to break upwards. The head and right shoulder also look to have followed the upward channel trend support (white lines) fairly well, so although there is still some leeway for some slight downward dips, the potential is not...

crypto_trends

LTCBTC looks to be forming a potentially bullish pennant on the 4-hour chart (yellow dotted lines). This looks to be somewhat confirmed by the hidden bullish divergence on RSI (dotted yellow lines on RSI and price), looking more likely to indicate a continuation upward based on the short-term trend. There is still some potential for the trend to extend further...

crypto_trends

With the w-pattern (double bottom) forming on LTC, in my opinion it looks like litecoin is currently riding the downward trend from its breakout (red line) before a potential break upward that might occur over the next few days. I mentioned before some long-term trends to keep an eye out for LTCBTC, but there might be some upward potential for LTCUSD in next few...

crypto_trends

BTC has broken downward into a descending channel (red dotted lines) as I had mentioned was a likely scenario in previous posts (NOTE: Channels have been adjusted just slightly upward to match the trend). As I had mentioned before, this is the likely "good" case scenario for BTC as it sets up a slight retracement upward (as is occurring right now) then sets up an...

crypto_trends

In the past week, LTCBTC broke out of the wedge of which I have been speaking for a while now, but now looks to be heading toward strong resistance as it hits near a wedge that has been forming over the past year (dashed blue lines). The wedge itself has the potential to go until either summer of 2021 or even into the end of 2021 (e.g., if the small, solid-yellow...

crypto_trends

I mentioned a little over a week ago how DASH looked to be heading upward, but now it looks to have reached the top of a wedge that has been forming since the last breakout. MACD however looks to be treading well since the last dip. If the upward trend continues, DASHBTC has the potential to breakout to the larger, long-term wedge forming since early 2020 (blue...

crypto_trends

It looks like a short-term "moment of truth" is happening right now for bitcoin as it starts to approach the "channel cross" of which I mentioned in previous writings. One option looks like the price is hitting the top of the descending channel (dashed red lines) and it is then going to continue downward between 54.5K and 57K (a break near 57.5K would be better...

crypto_trends

DASH is looking like it is trying to "collect them all" when it comes to bullish patterns right now from what I am seeing. After hitting a double bottom in late march (dotted yellow line), it has further formed another inverse head and shoulder pattern and has broken the neckline today (dashed yellow line). Furthermore, this looked to be propelled by hidden...

crypto_trends

The dip I mentioned before looks to have started. However, it is interesting how there are two potential channels forming. The ascending channel (blue dashed lines) looks to have support a little below the current price, so it should give a bit of support in the case that a rise and further dip occurs over the next day. However, over the next few days there is...

crypto_trends

LTC looks like it might possibly dip over the next few days setting up a potential bullish bounce from what I am seeing. Bullish continuation divergence for the previous upward trend looks to be presenting itself as Litecoin looks to consistently be fighting higher lows while RSI continues to dip. If the support holds between $175 and $190 forming a wedge, and if...

crypto_trends

BTC has recently broken out from ascending channel (blue lines) and ascending wedge (blue dashed lines) support. Ultimately it looks like it has merely extended a downward descending channel (red dotted and dashed lines) over the next few days. However, if BTC is to bounce, there are some good Fibonacci supports near 57K and 54.5K (the latter of which looks to...

crypto_trends

Algorand looks to be testing the top of an ascending channel (red dashed lines) once again similarly to how it did at the end of March. A break here could be a great sign for ALGO as it could signal a new ATH , but there is also bearish divergence forming both on the 4-hour chart (blue lines) as well as on the daily chart . If resistance holds here, it could send...

crypto_trends

With regard to the bigger picture on the logarithmic chart for LTC, it looks like it is either time to jump past resistance (red line) or to bounce back into a wedge (between the red line and bottom white line). As always with litecoin, it is likely to follow the direction of its older sibling bitcoin in the short term. Either way, assuming that support holds in...