ChartswithChip

ChartswithChip

There has been an incredible dump of CAKE over the past month, and I believe the bottom is in after printing an ATL at $1.77. There have been eight consecutive candles near the ATL along with massive burns of the token since the dump started. I've marked fib channels showing the way back up, but I don't think the red .236 line will present much of a challenge....

ChartswithChip Updated 

Yes I'm one of those crypto boomers who faded PEPE but the time to shine for shorting is here. From a TA perspective, we have seven consecutive wicks above the upper boll bands. The bands themselves are very wide, fanned outward with the lower band running near the 200MA. This would indicate a 75% drop is possible. Not saying that's going to happen, but the...

ChartswithChip Updated 

Polygon has been trading in this channel since June of last year. It's near the bottom of the trend line, which happens to coincide with the 200MA on the daily chart. With all the bullish sentiment around Polygon, and large projects moving their ecosystems onto the chain, I'd expect to see a nice bounce towards the middle of the trading channel; followed by an...

ChartswithChip Updated 

Looking at NEAR/USDT 4H chart going back to late Feb 2023. We see six(!) firm rejections at recapturing the 200MA highlighted in the circles. I would generally consider this bearish as the token doesn't have enough buyer support to flip the MA from resistance to support. But what I've noticed in years of crypto charts is those six rejections will dramatically...

ChartswithChip Updated 

ADA / USD (trading view) on daily chart. Cardano appears to be breaking the neckline of an inverse head and shoulders that dates back to October of 2022 (6 mo). Shoulders, head and neckline are all indicated on the chart. Resistance of the breakout will come at $.59 but could blow past it if the breakout goes parabolic on the daily chart. Good luck! NFA

ChartswithChip Updated 

Looking at Algorand/USDT 4H on Binance, it seems like there is a long road ahead for ALGO bulls. We see two recent rejects at the .5 FIB / $.24. The retracement found support on the 200MA but the subsequent bounce was unable to fully recapture the .382 FIB at $.225. I'd expect some chop between the 200MA & .382 then a drop down towards $.21. With the two...

ChartswithChip Updated 

Monero has been trading in a downtrend for a while, and almost strictly within the red shaded (fib .236 - .382) area for 11 months straight. It has a date with destiny soon though, and will either breakout within the shaded triangle area or collapse down to the $145 range. If Monero clears the .382 fib line at $172.60, I really need to see a firm retest. To...

ChartswithChip Updated 

I have two different trading channels highlighted on the chart. The first predates the post-corona bull market. The second shows a long period of consolidation on the Chainlink weekly chart. The first channel lasted for a year before LINK exploded to ATH over $50. The second channel marks a year in May 2023. Chainlink has completed a full market cycle and if...

ChartswithChip Updated 

Looking at DOGE daily chart with BOLL BANDS, 200MA & S/R defined. The chart shows from Nov '22 but the colored lines date back to as far as Feb '22. So in technical analysis we don't consider what comes next for the DOGE icon on twitter. Nor do we wonder what the Musk wildcard might do. He could make it so you have to pay for blue in DOGE only, but from a TA...

ChartswithChip

Looking at the weekly chart with 200MA for CPER. I'm a fan of owning physical metals but CPER is a nice way for people to dabble in copper without actually getting bullion. The 200MA is now coinciding with the lower boll band. On a weekly chart I'd expect this to serve as rock solid support. I've mapped out the trajectory of the 200MA if it continues to uptrend...