Let’s have a look at the BTC/USD 1 week chart and see what this chart and indicators are telling us.
BTC is still in a massive Falling Wedge Pattern.
BTC is also still in a massive Ichimoku Y-Wave pattern.
Note that the 50MA is still traveling DOWNWARDS towards the 200MA so we still might see a Death Cross on this 1 week timeframe.
At the moment of typing...
Let’s have another quick look at the VET/USD 1w chart.
Here is a closer look at this 1w chart.
VeChain is still in its Descending Wedge Pattern on this 1w chart. Note that VET failed to close a weekly candle above its upper descending trend line of its Descending Wedge Pattern at around $0.0286. $0.0286 was also the previous high from Mon 23rd Jul...
Looking at the BTC/USD 1 week chart, we can see that the 50MA (Yellow Line) is now getting really close to the 200MA (Red Line). A crossover would signal a Death Cross on this 1 week timeframe.
Looking at the entire history and available data on this BTC/USD 1 week chart, we can see that the 50MA has never crossed under the 200MA on this 1w timeframe. Note that...
According to LSMA, we can assume that Bitcoin has ended the bear market.
LSMA is a technical analysis tool that studies past market data, such as the price and trading volume, and uses it to predict the future direction of an asset’s price.
I have put this indicator in 2 different bear markets' ends of 2015, 2019 and the current year 2022.
2015: The indicator...
BTC/USD 4hr chart analysis:
On the 17th, BTC had broken downwards out of its Ascending Wedge Pattern on this 4hr chart.
BTC had found some support from its support level at around $21,264 but has now dropped below it. A successful 4hr close below this level will possibly take BTC to its support area at around $20,834 to $20,494.
The Ichimoku Cloud Lagging Span...
Quick BTC/USD 1 week chart update:
BTC is in a massive Rising Wedge Pattern.
BTC is also in a massive Falling Wedge Pattern.
At the moment of typing this, BTC is still back above its 200MA on this 1 week timeframe.
At the moment of typing this, BTC is still way below its 50MA on this 1 week timeframe.
At the moment of typing this, BTC is still way below its...
MATIC pumped 82% after the bullish Supertrend Ninja - Clean signal (green vertical line on the background).
MATIC broke out of the bullish Zone of the Ichimoku Cloud , which is bullish. The RSI is in the bullish zone at 68. If we take a look at the Average Directional Index ( ADX DI) its bullish. The +DI (Green Line) is above the -DI (Red Line). While the Trend...
Here is a closer look at this ADA/USD 1 day chart:
ADA is in a Ichimoku P Wave (the 2 converging Blue Trend-lines on Chart) on this daily timeframe. This P Wave is potentially Bearish because it is an inverted P. Note that the bottom trend-line of the P Wave is near the 38.20% ($0.430) Fib Retracement level.
The Ichimoku Cloud Conversion Line (Tenkan Sen) is...
Looking at the VET/USD 1 week chart we can see that VET is in a massive Falling Wedge Pattern. A Falling Wedge Pattern is potentially a Bullish Reversal Pattern. Note that the APEX of the Falling Wedge Pattern is located around the end of October 2023. A weekly candle CLOSE BELOW the Lower Converging Trend-line can easily invalidate this pattern as we saw with the...
BTC is in a massive Falling Wedge Pattern. A Falling Wedge Pattern is potentially a Bullish Reversal Pattern. Note that the APEX of the Falling Wedge Pattern is around March/April 2024.
BTC is in a Negative Ichimoku P Wave Pattern. BTC has been in 2 Previous P Waves from the all time high and both P Waves ended with further drops to the downside.
BTC is also in...
This is a longterm analysis of a possible 3 year outlook for VET/USD using the 1 week chart.
Here is a closer look at this VET/USD 1 week Chart.
On this 1 week timeframe, VET has been back above its Least Squares Moving Average (LSMA) since the week of 7th March 2022. Note that a weekly close ABOVE the LSMA is considered a BUY SIGNAL for this indicator.
VET...
Looking at the BTC/USD daily chart we can see that BTC is still under its Least Squares Moving Average as well as still under its Bollinger Bands Middle Band Basis 20 Period SMA. Note that we have expansion of the Lower Bollinger Band.
BTC is still in a Descending Pitchfork Pattern and has found some support from its Upper Green Pitchfork Support Line. Note that...
As I mentioned in my previous VET post in March, there was always a possibility that VET would drop out of the Bottom Trend-line of its Ascending Wedge and Invalidate that Ascending Wedge Pattern, which has happened. VET also failed to get back above its 0.236 Trend-Based Fib extension Level on that previous chart so we know that $0.087 is the price that VET needs...
A quick look at the ADA/USD 1 day chart:
ADA is still below its Longterm upwards Pitchfork (Blue A,B,C) Median Line on this 1 day timeframe.
ADA is also below its smaller descending Pitchfork (Black A,B,C) Median Line on this 1 day timeframe.
ADA is still below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1 day timeframe. Note that the Lower...
Looking at the Trend-Base Fib Extension we can see that BTC found some support from its 0.5 Fib Level at $30,329. If this support level fails then the next Fib Levels are 0.618 at $26,100 and 0.786 at $20,077.
Looking at the Bollinger Bands, we can see that BTC is still way below its Bollinger Bands Middle Band Basis 20 Period SMA on this 1 week timeframe. Note...
At the moment of typing this, ADA is still below its longterm Pitchfork Median Line and has been below it since the 3rd March 2022.
ADA is also in a Descending Pitchfork Pattern (Black A,B,C). At the moment, ADA is still above its Descending pitchfork Median Line. At the moment, ADA has found some support from its Descending Upper Yellow Pitchfork Support...
A quick BTC/USD update:
At the moment, BTC is testing its crucial Descending Resistance Line of its Triangle Pattern as well as testing its crucial Resistance Area. Note that BTC has found resistance from this Descending Resistance Line 3 times previous and you can clearly see the interactions of the previous Daily Candles with this Resistance/Support area.
Note...
The Trend-Based Fib Extension level 0.236 at $42,492.75 is the level BTC needs to close above and successfully re-test as support for continued upwards momentum on this 1 day timeframe. This level is also where its descending trend-line is located exactly on the 0.236 level.
At the moment, BTC is also back above its Least Squares Moving Average, its Bollinger...
