Throughout Bitcoin's history, the 20 week exponential moving average (20W EMA) has played a crucial role for both propelling macro bull runs as well as acting for a magnet to pull price back when it tends to get overbought. Currently, price is hovering at ~63% above the current 20W EMA (based on the most recently *closed* weekly candle). Looking back at the past...
This chart was drawn during a livestream
Background: This is continuation of this post in which we explore the Alt Coin Market Cap showing signs of Wyckoffian accumulation. Please review this chart work first. Chart Analysis: It appears that ETHUSD, the 2nd largest crypto coin by market cap (behind BTCUSD), has recently completed Wyckoff Accumulation and is currently undergoing a Wyckoffian SOS or...
This chart was drawn during a livestream
Background: This is continuation of this post in which we explore the Alt Coin Market Cap showing signs of Wyckoffian accumulation. Please review this chart work first. Chart Analysis: It appears that NEOUSD, the 20th largest crypto coin by market cap, has recently completed Wyckoff Accumulation and is currently undergoing a Wyckoffian SOS or "Sign of...
Background This post is based on the Wyckoff Method, created by Richard Wyckoff after he reviewed how "whales" interacted with macro stocks/markets. Lots of good information can be found here: school.stockcharts.com The specific Schematic we focus on here is found at: school.stockcharts.com Chart Analysis: It appears that TOTAL2, the Market Cap of Crypto...
BITSTAMP:BTCUSD Analysis - Macro view: After eye balling what appeared to be *either* a bear flag *or* a pennant breaking down, I had decided to play with some traditional TA targets. As is the norm, traditional technical analyis begins with the pole length. In this case, I have identified up to 4 different poles, which means up to 4 different target...
I suspect gold is in the middle of a cup and handle continuation. Though it's technically too early to call, I suspect price action will play something like this. Lines were drawn around ~$1,400. Pull backs are for longs.
Most of the information can be found on the chart. I decided to analyze the relationship of several different Simple Moving Averages on weekly candles. I chose to use BLX as the price history goes back the longest. This allowed me to even consider 300 and 400 week moving averages. Comment with any follow up questions you might have. First, I studied the SMA...
Similar to what was shown in my bearish outlook on BITFINEX:BTCUSD , ETC has formed a macro bear flag that has been cleanly broken. The flag suggests 2 reasonable price targets: Note 1: Stoch RSI suggests bulls have had their fun and the best they could muster was a flag. Continuation likely and expected. Note 2: A break and close above ~$5.00 will...
2 bull targets from 2 possible scenarios - Bull Flag OR Symmetrical Triangle Bear target figured from Symmetrical Triangle Bull target 1 - $6,150 Bull target 2 - $6,800 Bear target 1 - $5,200