The weekly chart has been trending downward for some time. It has been making lower lows and lower highs and looks to be making a new lower low. I think I'll let this one play out for a little while and see if it pulls back to the upper trend line before placing a short position. Please let me know what you think. I'm open to suggestions.
For the price action, candlestick analysis people out there, The weekly chart shows a Shooting star/Bearish Pin bar on the Weekly chart and a confirmation of it with the week just passed with a weekly candle close below the low of that Shooting star/pin bar. This is a pretty compelling reason to look for sells at least down to that red zone in my opinion. However,...
(Looking for a retest at the 105 level on smaller timeframes)
Phase 2 of legalisation is coming up in december, will there be another rally ? I don't know, but what I know is that TSX:HEXO is looking good with that bullish divergence.
I think XRPUSD will continue to consolidate sideways for a week or 2 or 3 finding good support on the weekly 50ma...and once it nears the last 2 remaining potential top trendlines of the 1 month chart's giant descending triangle we've been in for almost 2 years(the dotted yellow line and the pink log chart line), once it nears those w will s it start to gain the...
Hi all, I have been following this LTC/BTC coin for the past weeks. LTC has confirmed and found support on this trendline from the daily chart, and potentially looks like it will find support on the weekly chart as well.
Ethereum is now confirming a breakout of a weekly chart bullflag that should take it to at least $366 but more impressive is the cup and handle pattern on he 1 day chart it seems to be triggering at the same time which has a potential breakout target of $499. Now it's true cup and handle breakouts often fall slightly short of their projected target, but there's...
Simply put, our weekly candle just closed as a bullish engulfing candle...that means that it covers the entire previous weekly red candle and more. This is almost always a very reliable sign of incoming bullish action and I would think even more so on the weekly timeframe. I'm most certainly bullish and think 9.6k-10k before our first real 31-41% correction is...
The weekly stochrsis ascending support trendline has performed phenomenally this entire bull run. It still refuses to submit or bend the knee. Each time during the bullrun i seemed as if the big 31-41% correction was finally about to happen the fall was stopped short as the bullish momentum was bounced up off of this trendline. Once again this has happened to our...
Very simple study showing that decent trades are possible based on the weekly RSI indicator alone.
Dear all, Enjoy this chart. All details are in the chart, showcasing the confluence of bearish indicators for the 33% correction within this BULL market. In summary: 1- One final push to the upside (9.8-10k levels) this week 2- 33% correction to the 50% fib in June 3- rip to $11.5k in July/August, after the RSI and Stoch RSI have cooled off to oversold...
throughout the recent bear scare where for a moment it looked like we may finally be seeing the 31%-41% correction anticipated to follow our current parabolic uptrend, the ascending green trendline on our weekly stochrsi has held vigilant support only slightly teasing a peek below it briefly which now there is no longer any trace of. This line has held strong...
the 2 big players in that have been battling it out in the charts for the past couple weeks have been this strong weekly ascending trendline on the stochrsi as support and the weekly 50ma(in orange) as strong resistance. It has been a crazy battle one it looked like only a few days ago the weekly 50ma was going to win...but as we touched down on the stochrsi we...
This wedge doesn't have an apex until August but odds are good we will see a break from the wedge much sooner than that...here I have picked a rough estimate area of where I think the priceaction will break out of the wedge and have put both a bearish breakdown projection as well as a bullish one. Although probability should favor a bearish breakdown to occur. its...
Steve Courtney noticed an excellent fractal between 2014-15s bear market and our current one on the log chart. As you can see indicated by the yellow circles...we have just recently broken above this descending blue resistance trendline and if you look at the fractal from 2014-15 you can see that back then we broke above it right around the same exact time we are...
We can look for possible shorts if that doji candle breaks down.
As I said in previous posts the weekly 50 moving average would be crucial to watch and even though we wicked above it we may very well now close our weekly candle well under it at this rate after a stiff rejection as the weekly 50ma maintains resistance. I anticipate we will simply form a higher low from here or a capitulation drop...one of the 2. either way the...
Bitcoin Weekly Chart: Bitcoin has found support on the previous resistance line as shown on the weekly chart above. If Bitcoin can his can close this current week with a green '1' above the blue trend line, the bear market could finally be over! This is not financial advice, as I am a self-taught investor.