crypto_trends

crypto_trends

ETH spent quite a bit of time between its 38.2% and and 50% retracement levels (more than other cryptocurrencies that I have been watching at least). But starting yesterday, it led the charge as it broke out and looks to be headed toward the 23.6% Fibonacci right around 1.8K. However, BTC has been around its own 23.6% retracement level for some time now (back and...

crypto_trends

Things look to be breaking out for LTCBTC from the point from before the retracement. Here is hoping it keeps that way (large dependencies on BTC's path obviously), but with a nice green weekly and daily candle about to finish here shortly, there seems to be a good chance for a jump start for alts like LTC in my opinion. Although I also think it is easily...

crypto_trends

Litecoin recently followed BTC to break out of its current trend (white lines) and is now testing a wedge (green lines) on the upper side. Hence, I figure it is largely dependent on the trend of BTC, but if BTC continues on its upper trend, it looks like a break upward is likely. The fate is largely dependent however on the fate of BTC with still some...

crypto_trends

Bitcoin looks to be breaking to the upside of its wedge. It is still right at the cusp, but looks like the next day has a good chance to be above this trend just enough to remove some of the chances of heading fairly farther down. There are still some opportunities for the price to go down back to 47K, but that is now looking to be good support more than it is...

crypto_trends

I have been so focused on closely to DASH, I decided to zoom out and definitely see a lot of alternatives thanks to some good comments from others. Definitely some possible breakouts here short term. But still some potential ways down. I think DASH is still at somewhat of a crossroads, but definitely nothing too definitive to act on in my opinion, particularly as...

crypto_trends

As I start to zoom both in and out a little on BTC and alts, I notice that there indeed looks to be a crossroads possible over the next few days. As BTC starts to break out of a downward channel, but with no push behind it even after a stimulus bill passing in the senate, it looks like over the next three days, there is a good chance for a fizzle out to rise...

crypto_trends

Interesting to see DASH has respected this wedge for so long. Looks like the culmination of this wedge should be coming soon. The options are up, down, or continue on forward, and likely to follow the trend of BTC, but with the U.S. senate meeting over a stimulus package vote as I write this has me really wonder the influence that might have (particularly as the...

crypto_trends

I have already mentioned a couple of ideas about DASH (which I normally do not follow so closely), but this chart looks to show it best. Ultimately, DASH/BTC looks to either be in for a bounce off the bottom of its trend very soon, or a break below it. With the current trend already heading upward, here is hoping for a bounce, but as always with crypto, nothing...

crypto_trends

BTC fell out of its upward support line (green line) and into the downward channel it is in now (red lines) to create a nice lightsaber double X formation (my first thoughts at least when I drew the chart) toward the Fibonacci line near 47K (once again). The interesting part is how well it is staying in that small downward channel that it just touched at the...

crypto_trends

Dash looks like it is about to move out of its wedge very soon. So far near the bottom, so some dangerous territory here particularly as it edges its support, particularly with the S&P 500 going down. Hence I am curious which way this is going to break.

crypto_trends

About to hit the top side of a pretty big wedge on DASH. Let's see if it will break out or if it will stay in the wedge.

crypto_trends

Looks like some BTC price action is about to start in the next few hours based on the current wedge. Curious to see if it breaks out to the top near where it is now, or if it will head back down the to bottom of the wedge. I suppose if up, this could be the end of the right shoulder of an inverse head and shoulders pattern. It would be a short shoulder, but...

crypto_trends

Ethereum looks to have broken out of its wedge but is staying well in a larger upward channel. The bad news is it was well rejected like a rock at a 38.2% Fibonacci retracement today. The good news is that long term, it seems to have likely stopped retracing at the 61.8% Fibonacci retracement at 1.3K (so far, the hard place). At this point, it is possible to...

crypto_trends

Good news: We broke out of the wedge to the upside! A lot of folks are calling this a bull trap. I disagree with how much divergence there has been. I don't anticipate straight up from here however. I figure the next four hours will have us reach 50-51K. The numbers I think to watch for a bull reversal for this downtrend are 53K and 56K. If those numbers get...

crypto_trends

I find it beautiful the symmetry of the current downward wedge (orange line with an angle of 167 degrees) when compared to the trend of the upper trend moved down (white and blue lines with an angle of 13 degrees). The symmetry is rather beautiful (i.e., 180 - 167 = 13), but also wonder if it is just coincidence (note: the angles change as you stretch the price,...

crypto_trends

BTC looks to be continuing into its downward wedge. A very good sign for a potential reversal soon. The even better news however is RSI. It looks as though there is bullish divergence forming, whereby as BTC keeps dropping, RSI keeps rising, a very positive trend indeed! Although there is a possibility to break out of the trend to the negative side (similarly to...

crypto_trends

Bitcoin looks to have finally moved out of a wedge (red line) that it has been stuck in for the past couple of days. I can imagine some saying it is an obvious flag pole for a bearish trend, and I don't necessarily think that is wrong, but I wonder just how bad this short term retracement is going to be (a lot of calls for 40ish for the .618 Fibonacci...

crypto_trends

LTC this morning had a nice breakout against bitcoin, but I think the real story is more about what breakouts are possible. From what I can tell, the really long trend looks positive with Litecoin as it finally begins to reach the end of a very long wedge against Bitcoin. Right now looks to be some of the trends near the bottom of this wedge (which are great...