ETH/USD is in an Ascending Triangle Pattern. We also have what could be a Double Top as well.
Ascending Triangle Pattern = Potentially Bullish
Double Top = Potentially Bearish
Here is a closer look at this 1day chart. Note the Liquidity Void being filled up at the moment.
Here is a closer look at the RSI. Momentum is downwards at the moment but note the over...
We have what looks like Hidden Bullish Divergence with the Price and the RSI indictor on this BTC/USD 1D chart.
We can also see that we have 2 liquidity voids that need filling up so a further drop is also a possibility.
Introduction
The recent uptrend in equities has been called a “hated rally” by several financial news organizations (www.afr.com) and lots of people are “sitting on their hands” for this uptrend. That type of behavior seems ripe for people to try and sell the local high and buy lower down.
The monthly ADX has remained very low. When the ADX goes from below 20...
Bitcoins next price target, before some more meaningful resistance, is likely to be in the range of 35.7k - 36.8k.
Their is confluence of fib levels in this range. The 0.382 fib level measured from the all time high to the bear market low, and the golden pocket level (0.618 - 0.65 fib level) measured from the next macro high during the bear market to the bear...
Double Top is a bearish formation. In this case, it's being formed on the Point Of Control (POC) as a neckline, the strongest support/resistance on Volume Profile Visible Range (VPVR), which shows what price bulls and bears fought the most.
If this formation breaks the neckline, the potential target price is exactly 26000.
We can predict the potential target by...
VeChain update with my opinions and what i plan to do if my opinions are correct:
Here is a closer look at the 1 day VET/USD chart:
While VET did have a nice move up from $0.0152 to $0.032, that impetus is gone and VET is now making Lower Highs and Lower Lows.
Notes:
VET is still in its Descending Channel Pattern.
VET is back in the Bearish Zone of the...
I tried to explain this the other day, but I made a mess, being tired and sleep deprived.
First, I noticed the H&S forming on the 1W timeframe, shown by VWAP.
Although it's an intraday indicator, I also leave it on bigger timeframes for this purpose. It showed a pattern IN the candles.
I tried at that point to draw it on 1D, but the pattern wasn't so obvious,...
The price of BTC broke down from a bullish ascending channel.
Right now, it has a VPVR resistance at the 28550-28450 level range, which, if broken, leaves the price without significant resistance until 28000.
Trend waves are exhausted at the one-hour timeframe on my indicator at the bottom, so rejection is possible at this point, but the four-hour time frame is...
Looking at the weekly chart, I noticed a clear H&S pattern on VWAP. VWAP is an intraday indicator, but it can show a pattern in larger frames, like now.
I was trying to find a way to draw and measure it clearly on commonly used timeframes, but it is most apparent on a 2h chart.
As you can see on VPVR on the right, the neckline is below the 27100 resistance,...
Here is a closer look at this chart.
BTC needs to turn the key Resistance area located around $32,157 - $28,682 into strong support.
That’s it, quick n dirty. I hope this chart is helpful.
BTC/USD Volume Analysis - Bitstamp 1 month chart.
BTC is still in a massive Ichimoku Y-Wave Pattern, which is like a western Broadening Wedge Pattern.
BTC is also in a massive Ichimoku P-Wave Pattern, which is like a western Symmetrical Triangle or Pennant.
BTC is also in a massive Rising Wedge Pattern.
I have also added in various Support and Resistance lines...
Inversed Cup and Handle is a very strong bearish reversal pattern. I should have noticed earlier, but I do my own analysis and was looking for something else while this cup was being spilled in my lap.
Why am I posting this late, then?
Well, there is one crucial thing left on this chart. And that is that this pattern has a target price target of 27600, which is...
In this chart, I used Fibonacci Channel and VPVR to show the current trend's confluence between support and resistance levels. This is the current playground.
I will not be overexplaining since this is only an observation.
We have a school example of the bear flag formed on under-hour timeframes, and it targets the price of 28300, which perfectly fills the gap in historic volume shown on the VPVR on the right.
Head and Shoulders fully formed in 15 min timeframe. Neckline is a VWAP that is being broken and retested at the moment. The target price of the formed pattern is below 28650, which is the beginning of a VPVR gap on the right. Fibonacci 1.618 regression support is at 28300, a target price of the bear flag I posted about yesterday. You can see it in the link below.
We can use candle patterns on the oscillators too. On 1h my waves oscillator, we have a double top, ideally rejected from the 70 lines, and it broke down the neckline.
A pullback in strength could go below a zero line. In that case, aggression (grey wave) would be rejected in the area of -50 to -70.
The head and shoulders pattern formed on a 15m timeframe, and...
I continue to be bearish and, by all my logic and knowledge, think that this market has been heavily manipulated since the Genesis bankruptcy.
Just think about it. The moment when the biggest crypto lender needs to liquidate their assets, the price goes up.
Also, if you follow the social metric, you know that creators of the crypto content are struggling to get...
