NickelOak

NickelOak

There's confluence of support around the 100 week EMA, the most recent strong supply zone, volume profile nodes, and a recent trend line. I showed some older trend lines, as well, just for reference. Those older trend lines broke, and now I'm curious to see what happens here. If there's accumulation and a strong reversal from here, I think price can run up to...

NickelOak

This chart represents my entire adult life. It includes the dot com crash (2000) and the housing market crash (2008). You don't see exponential growth all that often, and when you do, it's followed by a major reset. To me, this chart represents the astounding technological developments that have occurred since the late 1990s, but it may also reveal some rather...

NickelOak

If we've reached a market top for the time being (looking back over approximately 10 years) there's nice confluence between fib retracement levels, volume nodes, and some key support/resistance zones I've drawn. A market pullback to the 0.5 or 0.618 fib level wouldn't surprise me. Alternatively, if we're just seeing a market pause (accumulation), we could see...

NickelOak

Note: I'm not particularly good at, or overly familiar with, Elliott Wave analysis. I tend not to use it. -Confluence is important. -The Fib Extension levels line up nicely with previous support/resistance zones. -Those fib levels are also confluent with the volume nodes. -If price is in an ABC correction, it would make sense for price to pump up to the 0.382 (or...

NickelOak

It's worth noting that there's a gravestone doji on the 1W chart (not shown) that gives me some bearish concern about our current up trend. We're in an uptrend on the 1M chart, but more locally, we're in a downtrend since the last all-time high (obviously). Have fun, and good luck.

NickelOak

I'm just thinking out loud here, but I believe this is a possible scenario that could actually play out. Thank you for attending my Ted Talk.

NickelOak

-I'm seeing more hidden bearish divergence than hidden bullish divergence in the oscillators. (no regular bullish or bearish divergence) -There's a not-so-convincing (pretty rough looking, imo) inverse head and shoulders that may complete soon. -There's stiff resistance in the way of a strong supply zone around the $47K to $50K area, so I could see price getting...

NickelOak

-Bullish divergence in several oscillators. -$1.00 support level needs to hold, and the oscillators need to stay on their current trends. -Price needs to break out of the long-term downtrend. -Nice upside potential here. -A downturn in BTCUSD could, of course, disrupt a potential bull run, so keep an eye on Bitcoin. Never follow someone else's trading plan....

NickelOak

1 day chart. -Lots of Hidden Bearish Divergence showing up these days. This signals a possible continuation of the trend, which is down in this case. Never follow someone else's trading plan. These are just my observations for entertainment and education, not financial advice. Have fun, and trade safely.

NickelOak Updated 

On the 1D chart: -Price crossed and is holding above the 50 day EMA. -If RSI can stay above 50, that's a sign of continued upward momentum. -Hidden bullish divergence supports (upward) trend continuation. -See 4 hour chart below. Never follow someone else's trading plan. These are just my observations for entertainment and education, not financial advice. Have...

NickelOak

-Oversold on the 1W chart (not shown). -Oversold on the daily with lots of bullish divergence showing up in the indicators I like. -This is worth watching for a reversal, imo, especially if price prints an inverted head and shoulders pattern, which it may be about halfway through printing now. -We may see support and consolidation around the $110 level before a...

NickelOak Updated 

Well, we're at the top of the pitchfork, showing a fair bit of bearish divergence, and the supertrend just flipped red. This could just be a blip, but it's certainly worth keeping eye on. RSI needs to reset before we make another strong run upward. I'm not yet ready to call the start of a bear market, but this isn't a great look. A lower high to go with this...

NickelOak

1) We may just cruise on down to ~$30K rather sharpish from here, then get a bounce. That's when I'd reevaluate things. A nice bounce would provide enough bull market hopium for the market makers to sell into for the next major leg down to about $20K. 2) We may just get a bounce from here, but it would likely have the same result as above. Best case scenario is...

NickelOak

1 Day chart. Bearish divergence showing up on the MACD histogram and wave trend. Bearish divergence possibly forming on RVGI. All the oscillators I like are showing the SPX is overbought (especially Slow Stochastic, which is used to show overbought/oversold) and is likely due for a pullback. Price historically reverses when RSI gets this high.

NickelOak Updated 

Bullish Exaggerated Divergence appears to be forming in the 1 hour chart (white lines). A double bottom in the price action is also forming. The same type of bullish divergence is also apparent in the 4 hr chart's MACD histogram. Like everyone, I'm waiting for a big move, either up or down, to confirm a breakout of the sideways action we're currently seeing. -A...

NickelOak

ADA has been forming a triangle over the last 5 weeks or so, and appears to have strong support (orange horizontal lines). I think it's priming for a breakout, hopefully to re-test its previous high. This is definitely one to watch, but it's not quite there. Potential huge upside, though. Good luck and have fun!

NickelOak

The title says it all. Bearish divergence on the 1 day chart and the indicators I like to use. I think we're headed down in the near term, then price will likely take off again. We'll have to wait and see how bad the selloff is, if it occurs. Good luck, and have fun!

NickelOak Updated 

4 hour chart. Price appears to be breaking out of its upward channel, and RSI is now below 50. If this breakout continues to the downside, I think we're looking at a measured move down into the mid-$50K range, where price will likely find support around the 200 EMA. Have fun and good luck! Do your own research, and don't trade based on my ideas.