I'm a simple guy with simple graphs. This looks like an inverse head and shoulders pattern playing out pretty well. There is no guarantee obviously, we will have to wait and see further on when it moves further along, but it's worth looking at anyways. As with all head and shoulders patterns, we look for a breakout point by large volume, which looks to happen...
I'm a simple guy. I see basic patterns, I draw simple lines. This log chart shows some very clear patterns in the past that have turned out true and fine. We can see that, with some exceptions, we have stayed within the ascending channel since the beginning. We are nearing the bottom of that channel again, around $6,400 in the next week or two. Judging by the...
It appears as though after 6 months in this falling channel that we have found some relief. Might be a little early to tell, but there have been good indicators over the last few days. Note that in the last two months we have had the highest volume of 2019. Further, note the last three days have broken above the upper trend line and have been testing that line for...
It looks like we might be seeing the formation of a cup and handle, or possibly even just a rounding bottom if the handle doesn't exist. If we see movement upwards in the next 12-24 hours, this pattern might become a reality. If it is, in fact, a cup and handle pattern, we will see a breakout upwards from the handle and heading to the resistance zone of $6,000.
DYOR
So looking at the 4-hour chart, it appears we have broken down out of the bullish trend channel and a new trend is starting. It looks like a bearish pennant is forming, which if correct, would bring us down into the $4,600 level, judging from the size of the downward descent. This, however, brings us to a few good points.
The purple line indicates when the 20 SMA...
So from the last time I've posted this, a few things have changed, but most stayed the same. The major thing I missed was that I previously said we would hit the resistance zone of ~$202, when in reality we hit the zone at ~$183. However, we still dropped right down to test the resistance zone at ~$160, just as predicted. I think we have entirely too much support...
Lots of things to look at so let's get to it. First, we have three triangles pretty well established continually getting smaller. The first, Triangle A, was the largest, spanning ~24 days. This triangle gave us a new higher high of $158. Triangle A was followed by a sharp drop (a), and a 25 day consolidation period. Drop a and the consolidation period following...
We are seeing a trendline set up and combining with the date of the 20 Day SMA crossing the 200 Day SMA, it appears it will happen sometime around the 11th of April. The black arrow has not changed on my TA's in a week now and seeing as how it has continued to follow that exact line, we may actually have a breakout in the next two days. If we do see a breakout, it...
20-day SMA crossing 200-day SMA around April 13th and the 50-day SMA crossing it around the 23rd. Both very bullish signals. With a break upwards we can see resistance at the $0.12 level, and breaking above that the next resistance is $0.18. If it breaks down, we have strong support at the $0.07 level.
I believe we will see the $0.12 resistance level tested when...
This looks pretty much the same as the last one I posted. The only difference from a few days ago is the trendline on the 50-day crossing has been moved out a day to the 22nd. I believe we will bounce off the $6000 resistance zone down to the upper $4,000's in the next few days. After that, it'll be a test of the $6,000 resistance zone for at least a few weeks...
Update from the last time I posted this a few days ago. It looks as though the dates of the crossings haven't changed at all and we are still on track for crossings of the 200 day SMA by the 20 and 50 day SMA's on April 11th and April 17th, respectively. If the price breaks up, we will probably be looking to break the resistance at $180, and from there $210. If it...
Estimated dates of when the 20 and 50 SMA's cross the 200 SMA, as well as price action after that. Looking at the trends from the downward fall near mid-November 2018, we can see the same upward movement is happening in reverse. We should see sideways range bound trading for the next few days before a large upward spike somewhere around April 11th.
Cheers!
