I am long EOS on this breakout (the trendlines in orange show a falling wedge that can even be seen on the weekly chart).
Using Weinstein stage analysis on the weekly chart we see that HWDN is potentially entering Stage 2 having broken out of a minor Stage 1 resistance and retested the 30MA. Watching for a break above the upper golden trendline drawn from the previous Stage 3 highs. The upper and lower golden trendlines indicate a bullish triangle pattern and is very close to an...
Rising wedge patterns are consistent in crypto, there will be a breakout to the downside. The problem that bulls face here is if it DOESN'T breakdown in the next 8 hours it will rise to the top of the wedge and then fall. This will be an almightly bulltrap as a lot of folks will FOMO in after a break above 11200 not realising that the wedge trendline is...
I cannot see us breaking to the upside right here. If we do it is a tight stop of the short. We could revisit 7000 region before breaking out.
I am not convinced that the bulls have the momentum to keep this rally going. The daily trendline is strong and it looks like we are setting up for a shooting star that has bounced off the trendline earlier today at around 11000.
If this support cracks it means the FED has lost control
We see buyers come into the market after bottoming out yesterday at 7960 and closing the day with a bullish hammer. I predicted a green day today based on the action towards yesterdays close and hammer candle. We are forming a bullish falling wedge pattern and the only real question is whether the bottom is in at 7960 and we see a breakout on the next test of...
Well BTC has got hammered recently leaving us with a good swing trade opportunity to go long on BTC with a stop loss below the 200SMA. I have highlighted this area on the chart. I also believe we need to see a green candle today (possible with a close over 9200) or tomorrow to confirm the end of the bear trend.
Currently consolidating in ABCDE pattern within an ascending triangle. I like to buy at the bottom trendline and hold for the breakout, closing the position on a close below the trendline. Lisk will be rebranding on 30th Feb (around 3 weeks away), they have a big party and presentation planned and other coins that have rebranded have seen their price rocket e.g....
IOTA is at the bottom trendline of a consolidating wedge that has been forming since it peaked on 5th December. We now have bullish divergence on RSI and MACD histogram. These are the setups I like with low risk and reward to the top of the wedge or higher if it breaks out.
VEN has just completed an ABC correction and bounced off its 55d EMA. In the past this has signaled upside so I'm taking a long here.
6 days now out of the past 8 the bears are trying to break through support between 10100-10600 and each time rejected with a daily close above the support zone. This means the buyers are happy to soak up all sells in this area. I believe today is seller exhaustion day and we will see shorts give up and close higher than 10600 ending the current correction and...
See previous idea for similarity of the current correction with previous. My conclusion is that we are at or near the very bottom for this move and are due to see a huge move upwards as per previous correction.
I thought I would look at some historical BTC corrections to try and analyse whether the current correction which began on 17th Dec is lasting longer than usual (i.e. has the bubble burst or is this a normal correction in the BTC market?). I found it interesting that the 2017 June-July correction began on 11th June with BTC breaking out of the triangle on 10th...
IOTA was hit particularly hard in the market correction of 16-17th Jan as it was already in its natural ABC correction phase. I was lucky enough to pick some up at $2 knowing that it is due its next Wave 1 leg up afterwards. Here are my price targets based on Fib extensions. The only warning with this is that the correction may not be over (look to BTC market...
Handle forming and we should see a significant breakout as news is expected by the end of Jan regarding two ICOs on the platform
Cup and handle on the daily and consolidation breakout on the 1h