variousCryptos

variousCryptos

BTC meeting resistance at 48k. Hasn’t closed above the previous high yet. IMO BTC needs to retest the previous level before there can be real confidence this move is sustainable. I think we’ll see a retest of 44.9k and potentially 43.2k over the next several days. Still haven’t seen that spike in volume to show strength in the direction of the move either.

variousCryptos

Playing Devil's advocate here... BTC can technically still be forming the first wave in a larger down trend. Just something to keep in mind.

variousCryptos

Today's candle hasn't closed but it's already made a big move out of this descending channel. I'm looking to see if it can hold support at 44.8k along with a corresponding uptick in volume. The same thing happened last move upwards. You can see as we broke local highs there was a corresponding rise in volume that signaled a continuation in the uptrend. Pretty...

variousCryptos

I'm sure it's been pointed out already but Ethereum is in the process of forming a classic double top pattern. The pattern is NOT formed until a close below 1900, though. There's a chance Ethereum finds support above 1900, consolidates and then blasts off again. The next few weeks will be critical especially if BTC breaks down further and drops firmly below...

variousCryptos

A weekly BTC chart I'm posting for my own self-reference. A continued down-trend with bottom near 19k but wicks going as low as 13k. Lasting through the end of the year. When RSI on the weekly drops below 40 it marks a huge buying/accumulation opportunity.

variousCryptos

Title says it all. 42k needs to hold or we're gonna be revisiting 36k and heading lower still. Expect resistance getting back over 46k. Alt coins hurting ATM. if 42k hold, then great buying opportunity for alts, if it doesn't then alts will dump even further.

variousCryptos

Is BCH ready for a breakout? BTC looks like it's going to continue upwards for a bit longer which is giving alts more time to breath. BCH has been a little late to the party but it could be on the verge of a big break out. The last time it broke through this level we saw it double in price. Can we see that again? There appears to be a clear path with only...

variousCryptos

BTC has made an impressive showing the past couple of weeks. It has blasted all the way to 50k and dragged the ailing alt coin market with it. It finally started slowing down and it appears time for a pull back. This is the major test whether the bull run is on or if this was a dead cat bounce. Holding 47k is crucial. I expect we'll come down first and retest...

variousCryptos

BTC smashed through a lot of resistance areas over the past week. The volumes are growing which is a good sign. Now, I don't claim to be a master at Elliott Wave theory, but from what I know it's possible we are forming a larger corrective structure. According to Elliott wave theory, in a corrective move waves A and B will consist of a 5 wave structure and wave...

variousCryptos

Kind of messy looking chart, but I hope it gets my point across. There was a nice bullish engulfing candle yesterday which has given a lot of people hope BTC has found bottom or that a relief rally is coming. Until we show a break of the down trend I'm going to remain bearish. The minimum would be a break above 32k and a retest as support. There was slightly...

variousCryptos

Still on an overall downtrend and has a long way to go before it can be considered bullish. May be within this large descending channel. You can draw a number of different chart patterns, but I think this shows what the larger support resistance lines are. Right now it's trying to maintain support around 31k. A daily close below 31k would have us going to retest...

variousCryptos

Bitcoin price action is getting squeezed. It has been within a tight range for the past week. Is this the final BTC formation before a real move up or down? IMO volumes just cannot support a sustained push upwards. Volumes have been declining since we last bottomed out at 28k. RSI also shows decreasing momentum. I don't see any bullishness in the RSI since...

variousCryptos

Wanted to throw this out there. BTC has made these ABC patterns twice this month. Last time we dropped to 29k which was the 1.272 retracement. A similar move would have us come down near 27k. A panic sell-off obviously can take us much much further. Looking at the chart more I feel like we were in a bear pennant, broke bearish and have now been moving within a...

variousCryptos

BTC has been dropping in price since testing 40k 10 days ago. Earlier in the week it came down and found support at 28k and has since moved back up within this broadening wedge. To me it seems all but inevitable that we'll be retesting 28k again since BTC just barely hanging on above 30k. I'm not sure if there will be enough buying pressure this time to bring the...

variousCryptos

BTC dumping once again. Where is bottom? Anyone's guess is as good as mine. Here are some potential areas of support. Linear regression since the ATH forms a broadening wedge. The bottom support zone is near 20k. Adding a volume profile you can see that not much buying was going on in this zone either. Could be coming to retest last bull runs ATH of 20k. BTC is...

variousCryptos Updated 

Bulls looking for support at 35k. BTC needs to find support above 35k. A break below would likely send us back to retest 31k. If BTC finds support above 35k then will likely retest 42k level. I think there's a good chance it finds support and pushes up again. I don't think there's a good chance it will move much higher than 42k.

variousCryptos Updated 

The RSI may be printing a reversal signal in the next week. A reversal signal also called hidden divergence. What is a reversal signal? It means that that the current short term trend will reverse and the larger trend will continue. BTC is on a down trend. Since the ATH on April 14th we've made lower highs and lower lows. The RSI bottomed out and has been...

variousCryptos

BTC may be completing a huge head and shoulders pattern. IMO there's enough short term momentum to push up one last time, but I think the selling pressure is going to be too high. There will be too many people trying to cut their losses after buying in at the top. The chart is pretty self explanatory. Volumes are low. RSI is still on a down trend. Hit a huge...