jacobcanfield

jacobcanfield

> RSI remaining quite bullish. > Maintaining the .382 support and bouncing off the .5 support. > Rising RSI with a swing low failure and bullish divergence. > Expecting an impulsive move to the 1.618 > Great risk/reward

jacobcanfield Updated 

In the case of Swell and xRapid launch, this to me looks like a buy the rumor, sell the news type event as we also saw last year. We might see a short term bounce before the eventual downturn plays out though. Even with Bill Clinton as a keynote speaker, XRP didn't pump... *SHOCKER* "I did not have encrypted relations with that currency." - Slick Willy at...

jacobcanfield Updated 

Stocks Will Crash and Bitcoin Will Skyrocket as Collapse Hedges. This is a bold statement, but I am going to make it anyway. The time frame on this is unclear, but the charts are showing a big move within 12 months. I hear a lot of people claim that Bitcoin will go to $50,000, and they give a few fundamentals, but I want to show you the technical on why I...

jacobcanfield

After the SEC went after Elon Musk, we saw the stock drop 30%, but the chart already showed that a big reversal was in store for Tesla with a bearish divergence and a swing high failure on the RSI on the daily chart as well as the weekly chart. We also see that magical Canfield Fibonacci level show up at 17.944 as the top for Tesla. I debuted these fibonacci...

jacobcanfield

> Bounced off All Time Low with strong volume > Ascending triangle breakout pattern > Key moving averages switching > Ascending RSI > Quick price action when MOD has breakouts > Bullish: ADX, MACD, SAR, Aroon Osc, Stoch and CCI

jacobcanfield Updated 

There is a rising wedge forming within a larger bear flag and we are coming up against a VERY important downtrend level that was formed all the way from the peak at $20k. This makes me lean to the bearish side, but the volume is so weak, a big order either way can tip the scales. This is, however, hallmark of bear flags. Volume dries up, resets before another...

jacobcanfield

- RISING RSI/BULLISH DIVERGENCE - BREACH OF THE DOWNTREND - INCREASING VOLUME

jacobcanfield

> Big RSI divergence with RSI climbing above 50 into bullish territory. > Double bottom bounce > OBV starting to climb > Broke .618 support > Volume starting to pick up over the past 24 hours. > Buyers are currently 80% stronger than sellers. > 10 day over 20 day EMA cross over soon. > Move stop loss up as trade moves.

jacobcanfield

> Found support at the .786 (if it breaks, look to rebuy around 11000 sats.) > Flattening EMA's. > OBV still looks strong. > Bullish divergence with RSI > 10 EMA currently holding it down, but looks like it will break through soon. > Possible rumors around Korean exchange listings. > May take 7-10 days, so be patient with this trade.

jacobcanfield Updated 

Good afternoon traders! Bitcoin had a strong 6% pull back from it's rising wedge that we have been talking about for the past week and many analysts have pointed out. In my previous analysis on, I had stated we were watching the .618 level and would be shorting the top of the pitchfork if we didn't break above it. The bulls could not manage to maintain...

jacobcanfield

This is a deep analysis on Fibonacci retracements, Korea Volume, Futures closings, Tether, CNBC and why I believe that $7500 is the most critical point for Bitcoin all year and if we break it, we are moving into a strong bull market and if we fail to break it, we will head back down towards the $5800 levels and possibly lower. There is a significant fractal...

jacobcanfield Updated 

Good morning traders! We've added a new tool for you in the Bitcoin playbook. This is called a pitchfork, which has been one of the most accurate indicators on Bitcoin since early August. If you're wondering where all those random bounces are coming from, then this chart will give you all the info. Using a combination of the pitchfork and the fib levels from...

jacobcanfield

Metal Pay ( BINANCE:MTLBTC ) was delisted from Bittrex and saw the price get smashed to an all time low. They are one of the most undervalued projects in the space in my opinion as they've been hard at work with one of the most functional apps for crypto. After having seen their iOS update at Consensus first hand with the CEO, I can confirm it's legit. ...

jacobcanfield

Ethereum has been struggling to gain any momentum since the start of the year. It had a 57% rally in April, but it has been all down hill ever since. There are issues with scaling. There are issues with mining. There are issues with ICO's panicing. However, today the CBOE announced that they will have a Futures market coming very soon for Ether. There's a lot...

jacobcanfield

As far as indicators go, this one apparently cannot be broken. Even if hundreds of thousands of people saw it. Even if it was retweeted 600+ times. CNBC is THE contraindicator of 2018. Two bullish tweets given yesterday as it broke above $7,000 were the perfect opportunities to short Bitcoin. A 4% drop in price followed and CNBC continues to reign supreme.

jacobcanfield Updated 

The key to yesterday's breakdown was in the RSI. The price was still flat and we saw a major divergence happen right before price fell through the floor. The key to this chart and understanding what Bitcoin is doing can be found using the fibs from the swing high to the swing low. Bitcoin was pushing against along the .382 and finally broke through and ran...

jacobcanfield

Bitcoin on the short time frame is forming a bull flag, which is typically a bullish formation and continuation of the uptrend. We need to see confirmation with strong volume to break upwards from the triangle. RISING WEDGE We are still seeing the rising wedge pattern play out with perfection if you measure from the wicks. If you are not in the Bitcoin...

jacobcanfield

Bitcoin got a major push last night to the upper limit of our rising wedge. We were expecting a pull back, but insofar Bitcoin has continued to rally without coming back down to give us a good entry. Unless it has a good set-up with a high R/R (risk/reward), I don't like to enter. Many of the altcoins have been presenting us with great R/R's, which we have...