joasia

joasia

The breakout has not yet occurred, but we are today sitting on the neckline and so a breakout to the downside could be imminent. Note that the second shoulder did not reach the height of the first shoulder, however, other aspect of the pattern remain in place.

joasia

KRAKEN:ETHUSD has taken a beating, along with most (all) other cryptos. However, there is a possibility that we are going to see 100% gains from here - this sounds great, but considering how much ETH has fallen from all time highs almost a year ago, people who bought in back then shouldn't get too excited - there is a long way to go before you even break...

joasia

Many people are finally entering capitulation mode, with the recent sharp falls obliterating any hope that they may have had in getting their money back from their crypto investments. Strong support at around 5,800 is now resistance. Support at 5,500 is flimsy. The falls also signalled a convincing triangle breakout to the downside, with a target at around...

joasia

What a week for cryptocurrencies. The alt coins staged impressive rallies, although largely on small volume, indicating that the price increase was a relief rally and that the downtrend may resume. However, Bitcoin held back, staging small price increases on subdued volume. But overnight it powered through a major area of resistance and at the same time...

joasia

Most cryptos have made a higher run this week, but volumes remain low. This indicates that this is simply a relief rally and likely to be short-lived. One exception is PowerLedger, which showed rising volume as prices increased, breaking out of its downtrend channel. Prices have now paused and may possibly retrace, providing an opportunity to accumulate closer...

joasia Updated 

There is a textbook cup and handle pattern forming, which a beautifully rounded bottom. We are now at the handle stage, which is forming at the top of the cup. The handle could last for a few more weeks yet, but as it has already been forming for a month, a breakout soon is likely. Volume was low as the price retreated and remained low at the base, but increased...

joasia

A bearish rising wedge has been forming on the All Ordinaries -1.20% since 2009 (see monthly chart). A downside breakout will occur below 5,600 points, with a target of 3,365 points. The shorter term outlook is likewise bearish . On 5 February a Heads and Shoulders breakout occurred, which was confirmed when prices met the neckline at 6184 points on 27...

joasia Updated 

NEO has broken out of its falling wedge pattern to the upside. The target is 220, representing a 55% return. The breakout also represents the continuation of the short term uptrend and is supported by a bullish signal on the MACD. On the negative side, breakout volume is low, increasing the chance of breakout failure. Stop losses should be placed below the...

joasia Updated 

Walton is looking like it may be getting ready for a upside breakout from it's consolidation pattern. Price bounced off the bottom of the descending triangle, which also represented a support area and the 50% Fibonnaci retracement area. Supporting the bullish view is the narrowing MACD below the 0 line and the CCI also turning up below the 0 line The entire...

joasia

Once again Bitcoin failed to breakout from the downtrend channel. It may still be possible for it to breakout to the upside, but unfortunately the momentum isn't there, with the MACD contracting before it even breaks above the 0 line. At this point the more likely scenario is a visit to the bottom of the channel, at around $4,000. Watch for possible support at...

joasia Updated 

Stellar broke out of a bullish descending triangle pattern on 24 January and is now retracing back to the breakout area. This presents a bullish opportunity to go long, with a stop below the top line of the descending triangle at around 0.420, which would also signal a break of recent support. The target is 1.02 The bullish formation follows a healthy 50%...