Ignition-FX

Ignition-FX

On the stock market, when a stock opens a s significantly different price than the previous day's close, it is called a gap. The market has a tendency to close gaps in price by revisiting the "missed" price region. Even though bitcoin markets are open 24 hours, (so there are no actual "gaps") there are sudo-gaps, where the price action move too quickly for...

Ignition-FX

$VIA finding support on the bottom of the 4 hour cloud. This makes for a higher low, confirming that we are now in an uptrend. We did wick down below the cloud, but good buying volume stepped in!

Ignition-FX

it is important to consider both sides of a trade. here I look at the bullish case for bitcoin. In the chart, I show that we are in a 5 wave series, potentially taking us to >6000 USD. I like to use multiple indicators, here I use the ichimoku clous, 200 day exponential moving average, and others. I have tuned these indicators for cryptocurrency, so notice the...

Ignition-FX

The thick green line has become support. For a breakout, the thick green line must hold. If it does, we climb up slowly forming a cup and handle before launch!

Ignition-FX

Bitcoin is building up pressure. If it can't make up its mind and gets to the apex of the flag, look for more sideways movement in the coming days. But if it breaks? See you at $3000+. What do you guys think will happen?

Ignition-FX

I have shown Bitcoin all the way back to 2012 on a log plot. On a log plot, a straight line represents exponential growth. The green line here is a growth rate of 3.8X per year. Notice that this is an extremely strong support line. Even when looking at the daily and hourly charts, I use this chart to evaluate the position of bitcoin on a long term scale. While...

Ignition-FX

Yesterday's huge move in BTC was driven by anticipation of of the BIP91 lockin, with short sellers exiting their positions and adding fuel to the fire. Today we see a bull flag forming, look for a move up with a new attempt on the $3000 level.

Ignition-FX

Ether is in a firmly established downward channel, as can be seen on this chart. A double bottom has formed at 180 (there is also a double bottom on BTCUSDZ!) This indicated that $180 is now a support level to watch. If 180 is broken, look for a drop to $160.

Ignition-FX Updated 

This is my first chart - here are my thoughts on ether. What do you think? I have been watching ETH form a triangle pattern for the last few days. It Finally reached the apex and headed lower. Looking back, I see two possible levels of support, $235 and $200. Small double bottom off of 235 today, now headed lower again. If it breaks 235, look for a new low near 200.