patiently wait till price hits the 38.2% level where it meets the trend line then short sell.
Hi everyone, Welcome to another Bitcoin update on the Monthly Chart! As usual, it's all pretty clear in the chart. I take a look at the MACD, Sqz Momentum Indicator and RSI on the Monthly chart. Assuming we are in a new BULL market (as of April/May 2019), here are some points to consider on the indicators: 1) A bearish MACD cross never happens when BTC is in a...
Zooming out to the monthly chart can certainly get rid of a lot of noise on the BTC chart. We've found support so far on this monthly supply block right before the final $6k breakdown last year, but unless we can close today above this $8500 line, it seems like a deeper dive or at least an extended sideways accumulation is in the cards from here on out.
Interesting macro perspective to just be aware of.. Bitcoin forming a lower high on the monthly creates this horizontal wedge pattern. Could we be in for a massive correction back to $5000?
Looks like the video didn't reveal my drawings as it appeared to during recording, so I've posted the weekly chart here for a zoomed in picture. An unsustainable trend typically results in consolidation or a reversal in said trend. The Month of September will be critical to the US markets, as can be plainly seen in the S&P 500 Futures chart. Bulls have gone...
First off, there is a monthly Ascending triangle. The orange lines represent monthly zones. The circles show the touches of the trendline zone. So the monthly has some uptrend structure. When we look down at the Daily chart, we see at the market is currently in a downward parallel channel. However, I'm looking at it bouncing off of one of the bottom two green...
Hey everyone, Welcome to a brand new update on $XRP. Details in the chart where we look at the volume and MACD indicators. Things look like an XRP moon shot is delayed till Q4 this year. I don't expect much to happen during the coming summer months (July - September). Nevertheless, it's looking increasingly bullish (technically and fundamentally) and I think...
Yet another Bitcoin update! $BTC Monthly chart shows a strong parallel between the initial parabolic rise of early 2016 and 2019. 1- In June 2016, Monthly RSI topped out at the same level we seem to be topping out on now, around 60.75! 2- Both had roughly a strong parabolic rise of 300% increase or so in price from the real definitive breakout points, with a...
Looking further out, this is with a fib retracement on the monthly candles. We've had clear support with some more room if needed to go down a little more within the triangle or a possible 3rd touch outside wick.
To hone in on the overall pattern for FY 2018, I pulled a monthly snapshot with 30 minute increments to further highlight my projection of BTC/USD rather than a yearly "overall" to convey how BTC is being deflated one semi-drastic price action at a time when high volume hits various exchanges. I formulated my own fib levels with units of "100.00" rather than using...
We have to remember, that there are three directions in a technical chart analysis: bullish, bearish and sideways. To get the big picture, I analyze the monthly chart of Bitcoin today. We realize that on the monthly chart, the down channel is not yet broken. Furthermore, the last three months closes are approximately in the middle (blue square) of the high and...
In this monthly chart we can see how the price is naturally tending towards the 1,2500 target. And then? It is premature to talk about a bullish brerakout to 1,3000 but something, in the long run, makes us imagine.
Hello, I decided to go ahead and also provide the monthly chart as it might provide more information as to why I think it will head down towards 90 - 100. Cheers
Platinum has been in a correction since 2008. Since then it has established a clear lower support of this massive sideways move. Even though the current market phase is a correction, it yielded some opportunities to make profits. Right now price is appraoching the balance zone, but the lower support hasn't been hit in that internal downtrend that was going on...