Moon_Rocket_Capital

Moon_Rocket_Capital

PRICE ACTION The 1W chart may be the most important of the 4 charts to watch here; with last week closing above the 52W Moving Average. As we saw with LTCUSD in recent weeks; the break above this resistance is a significant signal of overall sentiment. However, in contrast, the price action has direct overhead resistance – in the shape of the $6000 price range...

Moon_Rocket_Capital

PRICE ACTION Looking at the 5m chart; we can see consistent higher highs & lows; with expanding volume on each move. The latest move; which created a new 48hr high as seen declining volume afterwards though – which could suggest the sentiment is wavering slightly. Moving across to the 1D chart, it become clear that we are currently tested the 28D MA @ $76 –...

Moon_Rocket_Capital

PRICE ACTION The last 24 hours has been a nice relief rally; with consistent higher highs and higher lows. Volume, although low, has been reasonably stable as well – which is a good thing. Of a little concern though, is that the 5m RSI has been diverging from the upward price action. This is worth watching closely... 4H chart shows an indecision doji at this...

Moon_Rocket_Capital

PRICE ACTION The short timeframe charts of 5m & 4H aren’t really providing much in the way of guidance; so we need to look at the larger period charts as we wait for a decision to be made on course of action. The 1W chart closed the previous week with a solid red body after breaching into new highs through the middle of the week. Obviously the generally accepted...

Moon_Rocket_Capital Updated 

PRICE ACTION LTC has just bounced off the $84 as a short-term support; however, the 5m chart suggests a lot of weakness in the RSI which could lead to further downside price pressures. Add to this, volume has dropped off; and it suggests bulls have run out of fresh capital. The key price for bears is to ensure the price gets to $80 as that will set up the...

Moon_Rocket_Capital

PRICE ACTION 5m chart shows a slight sign of the bulls attempting to create a higher low; although volume is missing. RSI however, is showing a lower low divergence suggesting a bounce may be about ready to form. Again, volume is key...so without something new happening; don’t expect a magic change. The 1D chart has been red-on-red for most of the last 10 days;...

Moon_Rocket_Capital

PRICE ACTION The 5m chart is showing a pattern of lower lows and lower highs; suggesting that – without fresh capital – bulls are finding it hard to draw battle lines and build a support. Volume is sporadic and volatile; however, price is moving without volume. Suggests weak liquidity pools. On the 4H chart; we see a hidden bearish forming; with lower highs on...

Moon_Rocket_Capital Updated 

PRICE ACTION This chart is wrong; and it is important you understand why! Let’s start with the obvious part. Just before close of the 1D candle; news dropped about the NY Attorney General going after crypto. No, this isn’t an episode of Billions ; but this was big news. Bitfinex and Tether are being investigated! And so, the price plummeted...all the way down...

Moon_Rocket_Capital

PRICE ACTION It is really hard to be inspired to a bullish argument when you look at the volume on the 4H chart. After 11 hours of trade on the daily; we are just 16.5% of the total volume of yesterday. Whoever slept in, they need to wake up and get back to their desk soon... The 5m chart is at least trying to do something to make this exciting; we higher lows...

Moon_Rocket_Capital

PRICE ACTION Starting with the 5m chart; we can see that price is slightly overbought. Add to this that price is forming a lower high at present – and bulls really need to find some fresh capital to keep any chances of recovery alive. On the 4H chart, price is still being supported just above the $160 zone, where a likely rising trend line will be. This also...

Moon_Rocket_Capital Updated 

PRICE ACTION Tonight, we need to discuss BTCUSD from a different lens. Technical analysis largely relies of historical events to generate data points for testing of future patterns... At a quick glance, this chart should seem familiar. The well known run up to December; followed by 12 months of price retracement – with a loss of over 80% for the new year...

Moon_Rocket_Capital

PRICE ACTION Let’s start with a quote from yesterday’s update: it will be interesting to see how price reacts @ $80 over the next 24 hours. Price essentially failed to break through the centre of the ranging channel; and with limited time to recover – demand dried up and pushed price lower. We can see that – like many other charts at the moment – volume was...

Moon_Rocket_Capital

PRICE ACTION The 28D MA is at $164.76; so, expect support here – which is the same trend line that generated the recovery on 15-April. Additionally, the 4H chart is leaning into oversold RSI territory off the based on a Bearish Divergence pattern. Volume is garbage! – both sides of the market are unwilling to make any moves of scale; so, this is a watch and...

Moon_Rocket_Capital

PRICE ACTION Is Bitcoin about to crash; or is it simply retesting the old resistance for support? Let’s look at the key indicators for how this could play out... The 5m chart has just bounce off an oversold RSI and is working its way up to the test of 50.0; which should give a solid indication of who is in control of the market. Interesting to note is the lack...

Moon_Rocket_Capital

PRICE ACTION LTC appears to be getting a little reprieve bounce off the 28D MA; and more than likely some support from the bullishness of the broader market. Price has been range trading between $75-$85 since 11-April; and it will be interesting to see how price reacts @ $80 over the next 24 hours. Volume on the recently closed 4H candle was somewhat positive...

Moon_Rocket_Capital

PRICE ACTION Starting off the week, ETHUSD showed signs on a Head & Shoulders; albeit with a warped right shoulder. However, with todays recovery across the markets – its fair to rule out this as a possibility now. $175-180 is still relatively resistive; however with the OBV creeping up – it suggests that bulls are taking the opportunity to sell off rather than...

Moon_Rocket_Capital

PRICE ACTION The bulls have, without question, been manic over the last month – seemingly blowing through every minor resistance on the recent charts. In almost all cases, bears have been no where to be found. Could it really be true that the bear cycle is over? Have all the bears gone into hibernation for the next 3 years? If there are any bears left in the...

Moon_Rocket_Capital Updated 

PRICE ACTION Looks like there was a decent volume of bullish sentiment over the last 24 hours; though is has not been an endlessly smooth ride to this point. On the 4H, volume is weak, and the RSI is just chop. On the 5m, volume is almost 0 and RSI is volatile in all directions. On the 1D, the price action has been a tight cluster today and there is nothing...