mdyassink

mdyassink

Just an observation,. Newbies here is an easy-to-understand method for knowing when market is about to bottom out or is close to reversal using the Relative Strength Index that is a free indicator you can use for trading view charts. On daily chart for the time period November and December 2019 look out for the RSI touching 20. 2nd time RSI touched around 20...

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There is a possibility that on the hourly chart and inverse heads and shoulders pattern might form on ETHUSD. Missing the right shoulder. Just sharing some possibilities you can look out for and trade on breakouts if they happen. Adjust the right shoulder according to the price movement if it plays out. BTCUSD chart has the same possibility. I would prefer to...

mdyassink Updated 

There is a possibility that on the hourly chart and inverse heads and shoulders pattern might form on BTCUSD . Missing the right shoulder. Just sharing some possibilities you can look out for and trade on breakouts if they happen. Adjust the right shoulder according to the price movement if it plays out. ETHUSD also having the same possibility. Could also...

mdyassink Updated 

Just wanted to share some observations. Early days yet and nothing is confirmed. Wait for breakout and observe if the upper line of the Ascending Parallel Channel pattern forms a resistance and that the bottom line forms support. If it does then we have some way up to go on a longer term with this pattern and can continue trading within the ascending parallel...

mdyassink Updated 

Just wanted to share some observations on ETHUSD. Early days yet and nothing is confirmed. Wait for breakout and observe if the upper line of the Ascending Parallel Channel pattern forms a resistance and that the bottom line forms support. If it does then we have some way up to go on a longer term with this pattern and can continue trading within the ascending...

mdyassink Updated 

This pattern can serve as a reversal pattern or continuation pattern and upon breakouts usually give high gains. Watch out for fakeouts. ETHUSD also has a Inverse H&S Pattern that could play out and could even turn into an ascending parallel channel upon break out if its bullish. Wait for confirmation candles. So there are 3 possible patterns at play here. Good luck!

mdyassink Updated 

This pattern can serve as a reversal pattern or continuation pattern and upon breakouts usually give high gains. Watch out for fakeouts. BTCUSD also has a Inverse H&S Pattern that could play out and could even turn into an ascending parallel channel upon break out if its bullish . Wait for confirmation candles. So there are 3 possible patterns at play here. Good luck!

mdyassink Updated 

These 3 points usually do determine that a bottom has been found and there will be a reversal in play for a longer term uptrend. Most recently the same 3 signals on the hourly determined the bottom at 6425$ and it got on an uptrend reaching 10500$ and then topping out and reversal back down to these new lows. As for ETHUSD it was at 116$ and both had same signals...

mdyassink

Just wanted to share this on how in the past we could see the long-term bear market trendline that usually signals the bottom and reversal, however this is the first time in recent years that price has returned to the resistance turned support trendline to test it. This has never happened in the recent years when when we got to 19800+, 14000. This time it broke...

mdyassink

Bitcoin has a Weekly Inverse Head & Shoulders is showing on the RSI and the Chart. I think we are in for an incredible run for BTC and we should be starting that run soon. High possibility this dump was a weekly fake-out to clear longs before starting the long bullish uptrend. This also means that any bullish signals that appear on lower time frames should more...

mdyassink

First time in Ethereum history a weekly Inverse Head & Shoulders is showing on the RSI and the Chart. Also first time ever (checked history from 2017 September could not find any bullish divergence, a bullish divergence has been printed. I think we are in for an incredible run for Ethereum and we should be starting that run soon. High possibility this dump was a...

mdyassink

Here is the Friday CME daily candle close for the week and where gaps may appear when and if BTCUSD daily candle close on Sunday goes higher than the CME High price (bearish gap) or if the daily candle close on Sunday is lower than the CME Low price (bullish gap). If you are a bull, lets hope that the weekend action does not go higher than 5935. We can move higher...

mdyassink Updated 

ETHUSD 100MA has crossed the 200MA. Still in early stages and lots of time to get in longs. Wait for more confirmation as a cross on the daily chart historically signals a big long-term move. The big CME gap bullish movement on BTCUSD should spark off a long-term uptrend for ETHUSD too. Just an observation. Good luck!

mdyassink

It would seem that we are already printing a hidden bullish divergence pattern on the daily time frame with a higher low on the price movement and a lower low on the RSI. Wait for confirmation candle(s) that show signs of recovery, like a strong break into the 8300 price region. Also not to forget one of the biggest gaps in the CME chart from around 9100 price...

mdyassink Updated 

It would seem that a bullish divergence pattern is forming for ETHUSD chart with a lower low on ETHUSD price but a higher low on the RSI . Daily divergence patterns usually do play out as in this case a possible bottom could have formed as long as price maintains a lower low and RSI maintains a higher low. What does a bullish divergence pattern normally...

mdyassink

Great opportunity to buy and sell within the descending parallel channel pattern (could be printing handle for the cup and handle pattern) that has formed. Or one could wait for a breakout with confirmation candle(s). For example if it is a bullish breakout, a good bounce happening above the top line of the descending parallel channel is always a great indicator...

mdyassink

Great opportunity to buy and sell within the descending parallel channel pattern that has formed. Or one could wait for a breakout with confirmation candle(s). For example if it is a bullish breakout, a good bounce happening above the top line of the descending parallel channel is always a great indicator that its not a fakeout. Also, if you scroll out, you will...

mdyassink

It would seem that a bullish divergence pattern is forming on the daily ETHUSD chart with a lower low on ETHUSD price but a higher low on the RSI. Daily divergence patterns usually do play out as in this case a possible bottom could have formed as long as price maintains a lower low and RSI maintains a higher low. What does a bullish divergence pattern normally...