We have a decent short opportunity potentially opening up with a bearish close of the daily candle in the next few hours. Bearish divergence will confirm (given the candle close) with one more downward day of price action and could run down to the next level of horizontal support over the next several days to the 6000 area. This is emerging as a strong level of...
I think we have some time before any big moves are made. Volume is pathetic and the price action is downright boring. It looks like we could break down to the next handle around 5k-5.5k, I have bids scattered around in this zone. It's a confluence point of a possible confirmation of the longer-term trend, the 786 fib level from the run-up since last spring and a...
Very uncertain about this one, but just an idea. Could be a fan pattern forming with a bounce off the 3rd leg being a breakout upwards. Chime in and tell me what you think.
Things may not look so rosy for the Dow Jones. The next month will likely have stories to tell. Break up and out of the trend support-turned-resistance and the train rolls on... struggle against horizontal resistance and things may look bleak. Right now the DJI is fighting some serious bear div, horizontal resistance, and a trend line glaring from above. With the...
Ethereum appears to be breaking out of a 2-month cup & handle pattern which, if true, would indicate a target of ~1300 by mid/late June. Hidden Bullish Divergence is in, just need a bit of rocket fuel in the volume. Only 1 problem, tomorrow is dumpy Monday. We'll see how it goes, but seeing as this pattern is emerging on the daily, we can afford a dumpy day or...
The DJI appears to have the markings of an incoming bear market, at least in the short term. A descending triangle with declining volume, coupled with a 200 SMA squeeze and declining RSI certainly don't paint a rosy picture. I personally have no skin in the game here, but it's an important indicator when judging the overall economy. A breakout should happen in the...
Looks like we're going to get hit with some last minute FUD and that'll (of course) couple with Bloody Monday in the crypto markets. Possibly set bids between 680 and 710 if you're looking to get in for the longer ride
It's always good to close the daily on Monday. I think we're going to get through mostly unscathed with a potentially nice setup for the upcoming week. I charted the 4-hr (usually do the daily) to try to capture the effects of the FUD throughout the day. If you haven't been paying close attention, it turns out there WAS NO SEC HEARING. All FUD. A lot of...
It looks like the lower time frames are showing signs of the next push upward. MACD is swinging back around, RSI curving up, Doji on the line of support....just waiting for a bit more volume. Mondays are traditionally a bad day for crypto so it'll be interesting to see what happens later today and overnight. I'm shifting from Long to Neutral mostly because of the...
As expected, Eth broke the 800 level and is now on the move. I don't see much resistance until the 900 where we could see a pause for consolidation. One possible play would be consolidation around 890-900 prior to SEC regulatory decision with a move up to 980 if (when) the ruling goes in favor of crypto.
Look for increasing volume for confirmation and a daily candle close, but it looks like we're legging up to the 800-ish handle. Aggressive target could be 980.
If we break above the ascending triangle (and I think we will), next target would be around 800. There is currently regulatory FUD swirling so keep an eye out, but the chart looks good for now.
@carcampit
