So the large inverted cup and handle (1) came out confirmed. The push for BTC and the resulting altpocalypse, plus the Binance hack were definitely factors.
so where next?
There was a second smaller IC&H (2) on the way down that had similar volume properties to the first. Added to the 1st one that takes it down even further.
whilst BTC remains dominant BNB...
I know nothing, for information purposes only.
Still charting the original IC&H formation. Have now plotted the upper and lower resistance trend-lines down to the potential bottom.
To further confuse matters a second structure that could be interpretted as IC&H appeared on the way down.
BNB is still a refuge for people who dont want to use stablecoins...
I know nothing, for interest purposes only.
this is an update on my speculation of an inverted cup and handle on the BNB/BTC 4H chart.
The green target zone is the expected bottom of the run, but the downside may continue after that so I will be looking for trend confirmation before putting a long back in.
Next update either when we hit target zone or when the...
The Wedge Master is at it again. It seems, we're in another wedge, around 4am-12pm PST we will have huge movement again. With crypto, it is hard to predict which way wedges will break out. So my technique has been to buy as the wedge closes in and set a tight stop loss about 1-2% under the line of my wedge. Here I am anticipating more down to retest our...
From what I can see at the moment, there is a potential inverted cup and handle forming on the daily for BABUSD. If it falls to between USD$130-$140 in the next 24-48 hours, it should see a possible rally up to potentially USD$180 followed by a fall as low as possibly USD$105.
Watch this space!
This is my guess on what is happening with BABUSD on BitFinEx ATM....
Bitcoin seems to be forming a perfect ballistic curve! While there is officially no such pattern recognized in trading (not that I know of), it is very interesting to look at the "physics" behind it. How does ballistic curve form?
Ballistic curve normally forms when an object is shot with a certain velocity, in the gravity field*. It gets momentum upwards only at...
This is an hourly chart that I Find to be very trendy. The 50% overall angle of attack makes this a measured move and I believe we are forming the head at the moment of a failed cup and handle quite perfectly on a 50 degree angle of attack. The right shoulder should form around 2675 area. Then, continuation of the daily Inverted Cup and Handle.
A) The blue rectangle indicates the area of possible rebound to continue movement
B) The red rectangle indicates the area that calls into question the continuation of the movement
C) The black rectangle cancels continuation of trend
The price dropped to the black rectangle and on 6th of February the trend was changed to a downward...
This is no financial advice.
Today I expect the Bear-Flag which forms the handle of the inverted cup and handle to break to the downside. And yes, the handle of inverted cup and handles do look like Bear-Flags. No much more to say. I don`t see indications to the upside.
EOS has formed inverted cup and handle and if it breaks Support 1, it may go down till Support 2 (Technically it should go till Red Line, but being fundamentally strong, I doubt it will), which is previous resistance.
Also MACD is trending down.
But zooming out on chart, is a huge HUGE Cup and Handle meaning it won't be too long before it bounces hard.
OMG is still following the newly established upward trend. However a slight market correction has been reached and has now formed an Inverted Cup & Handle Formation. After this short correction I believe we will continue to see a bullish run with OMG. Watch for breakout once the main line of Resistance is broken. As stated before always use a trailing stop-loss to...