darth_bitcoin

darth_bitcoin Updated 

TRX seems to be in a pretty tight spot right now on the charts. I believe that whichever direction it chooses, the move should be strong. If it does choose to range sideways long enough, it may invalidate parts of this analysis. There is some resistance and support in the low 500s that could create a sideways trading channel. On the downside, this coin has...

darth_bitcoin Updated 

In the 4 hour chart for ADX, we can see how it has retraced nicely from previous highs. Now it appears to be ranging in a sideways trading channel. What we really need to watch for here is signs of a bottom. If this is the bottom for ADX, we can enter and bag some nice profits! If not, we should practice good risk management, and find the proper entry. If you...

darth_bitcoin Updated 

Elliott waves dictate a fifth wave, I'd say to at least 1500. And soon. I'd say 1 day. Local inverse Head and Shoulders pattern may have formed Recent reversal fractal. It is also possible for the 4th wave to continue for some time. But I see a bright future for YOYO, at least for the short to mid term Gotta run Happy trading! :)

darth_bitcoin Updated 

A few things going on here with TRX in this chart. I did not feel that the last chart adequately stated my idea. If you look at the beginning of the last big rally (end of 2017), We can see the same sort of double top form on a resistance line and a little consolidation before a mega breakout. Right here, we may be in a similar scenario. Take a look at the fib...

darth_bitcoin Updated 

I can't promise big profits for now, but I do see TRX eventually breaking the red resistance line that it keeps testing, and moving to test the 548 resistance level. Whether that level gets broken is to be seen, however a safe bet if you are invested in this coin is to set a sell order for an amount of your position (I set 25% for this) just before this level. A...

darth_bitcoin Updated 

I wanted to update my last XVG analysis with a more thorough idea and a closer look. The fib levels from the last rally of 2017 have held up pretty well, and have acted as somewhat reliable horizontal support / resistance for Verge. With that out of the way, I see 3 scenarios that can be played out. Before I get into them, I want to clarify that I have never...

darth_bitcoin Updated 

A possible scenario. I think we go up, then back down, then up up up. Happy trading :)

darth_bitcoin Updated 

Got a request for XVG analysis, and here is what I think... First of all, this coin has already had a significant increase in price. It close to its old highs It may very well have completed a 12345 Elliot wave , identified in blue. This would suggest an ABC correction to follow. We have not made a double top either, which could be a likely scenario, and a...

darth_bitcoin Updated 

DNT is a fast mover today. Broke out of the horizontal resistance, and may go on to retest the recent high near 1067 satoshis. But I must war, it is still in the range to form a double top. It may need more time to consolidate as well, there is low volume, and this was a strong upmove. However, I can see it reaching this price target within coming days. It's a...

darth_bitcoin Updated 

Here, I did my best to draw the trend lines for DigixDAO, and came up with 2 possible structures. First, there could be a large Descending Triangle (potentially bearish) forming, with price is testing the support line at the bottom of the triangle. But there is also a Downwards channel that I have identified, with 3 false breakouts that I circled. Using this...

darth_bitcoin Updated 

Since the last breakout, LRC appears to have entered a sideways trading channel. I would like to point out that recently, it has made multiple attempts at the trend line at the top of the channel. The place I circled was a surge of price that looks like a false breakout. It did not follow the typical zigzag pattern found in a sideways channel. I believe it is...

darth_bitcoin

I believe ICX has recently completed Elliott waves 1 and 2, and is now in the beginning stages of wave 3. As we can see from the 4 hour, the recent consolidation appears more sideways than anything, which is a very bullish sign. I believe we will find support between the .618 and .5 fibos, and this could be a good buy area. There is also another potential...

darth_bitcoin Updated 

I made an attempt at drawing some bitcoin trendlines on the 4hr. After the last drop, we could have made an ABC correction, and now are in the middle of a 12345 Elliott breakdown. We should now either be somewhere in the 4th corrective wave going up, or still in the 3rd wave going down. The 3rd wave is typically the most intense in Elliott wave theory, although...

darth_bitcoin Updated 

Here we can see YOYO on the 4 hr chart after it's recent breakout. There are a few things going on here. First, I used trend lines to explain previous price action, and to identify a potential bottom for YOYO. The initial up-move after the Spring transitioned into a sideways trading channel, which is normal Price action may have formed an Ascending Broadening...

darth_bitcoin Updated 

I believe we may see storm go under into the 300's unless there is a breakout. I drew a descending triangle using trend lines (bullish formation) to explain the last breakout. I now believe we are in a downwards channel, and the sideways trading will push us up against the top of it. While I wish we would break through, volume is much lower this time around, so...

darth_bitcoin Updated 

Digix looks primed for an upward consolidation at the least, and perhaps a breakout for some nice profit. This may not necessarily happen, but I am longing it. I am not an experienced trader, please take this as mere thought rather than actual advise.

darth_bitcoin Updated 

Long on storm at 480 satoshis On the hourly, it is currently pushing up against the lower end of the Bollinger Band. The RSI is 24, which indicates that is is oversold. Might want to set a tight SL around 470, I personally am not due to the volatility I have observed with this coin. Conservative traders should take some profits near the center of the Bollinger...

darth_bitcoin

Metal pushing middle of the BB for 2nd time in a row. May prove a nice day trading profit. Take profit near top of channel at 5.2k Be prepared in case of breakout. RSI approaching 50, neutral. Can go either way from here. Beware that this is a risky endeavor while bitcoin remains in turmoil. :)