This correction and consolidation after the last rally was expected and healthy. I've been biding my time watching this in its consolidation since the May 23rd high of 0.000216 with lower highs and higher lows forming a converging triangle with the rising uptrend. This evening, ZRX started breaking out of the resistance line.
At this time, we await the...
Hi guys,
The recent rally for BTC has not felt much like a rally, so far. I have potentially good news, barring unforeseen news events or an influx of FUD, that BTC's fortunes maybe about to take a turn for the better.
First thing is to note my analysis is fairly straightforward. I will not get into complicated patters to explain this, as I feel they would be...
Hi guys, an update to the earlier idea where we were wondering what was next looking at the daily chart. Well, LTC bounced off the predicted rising trend line. A second descending line from an earlier lower high (from the ATH) has also just been crossed.
My earlier idea warned that we were at overbought levels (Stoch RSI) for all levels but the 1 day. At this...
Now that EOS has broken out of the 2nd descending channel since its amazing rise, it may appear that we are free to rise higher. That hope may well turn out to be true, especially since the support level seems to have held. However, the 3rd descending line is not too far along and EOS will have to contend with that, as well.
The low volume is a concern. ...
Hello everyone,
While it's very nice to see Litecoin make a move, finally(!), it got me thinking about hope and reality. Traders can certainly hope, but we better be in touch with reality if the trades are to be gainful. With that said, here is what I am seeing and I would love your feedback, especially if you think differently.
First and foremost, LTC needs...
Hi guys,
Several interesting things to note on the daily chart for ETH. It broke out of the descending line and has been on a trend upwards for the last 3 weeks. The momentum shows overbought, which should be a consideration to take profits. If you bought much earlier, then this would be a good time to take some profits. However, the Stock RSI is still very...
As you can see that it has been pushed back on a lower timeframe. To confirm the trend, I am waiting for 1-2 candle wicks (preferably 4-hr, but considering how quickly this moves a 1-hour would suffice) to fully form outside the down trend line. Worst case, it should happen in the next few hours. I'm picking up some and keeping a stop-loss handy.
I've enjoyed the rise of EOS from $5 and have been watching this pullback closely, waiting for us to get close to and for traders to be forced to a decision point. On the 1 hour, it just hit the trend line. Looks like EOS should break through the down trend line and with the upward swing of the market. In particular, please note that the StockRSI is oversold...
