BeerCanCapital

BeerCanCapital

USOil compressing hard into the triangle formation, which could see it play out as a continuation or a reversal pattern. After being rejected at the 61.8 Fibs with multiple bearish divergences and OBV flattening, I’m leaning more towards breaking to the downside. Not usually one to use fundamentals although OPEC have recently said they were going to begin to...

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A Bullflag has formed on the Daily and is even more prominent on the 4hr. After being rejected at the top of the flag price is heading back down to retest the support of the flag. There was a bearish divergence on the Daily, which is suggesting that price needs a retrace before heading higher. Due to this I have placed an entry at the bottom of the flag with a...

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Although there isn't much data on Theta on FTX, a nice Cup and Handle has formed with a retest of the neckline initially failing to penetrate although it is still looking like it might with a Bullish Engulfing and the Daily candle almost closing. Volume has subsided in the middle and increased as price returned to the neckline. The measured move takes it to...

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An Ascending Triangle has formed on the Daily time frame with price being squeezed into the corner and is currently being held by the 50 and day MA. The RSI is holding above 50 indicating strength in the trend. OBV is high and maintaining this level suggesting that the buying pressure is there. Although volume could be higher it seems to be picking up in the last...

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After being rejected multiple times at a strong level of confluence (The purple box), price has also broken through a major trend line that started on the 12th of March. The 50MA was acting as a dynamic support until it too was broken a couple of days ago. The last line of defence is this short term trend line which has been holding strong. The RSI has crossed...

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After being rejected multiple times at a strong level of confluence (The purple box), price has also broken through a major trend line that started on the 12th of March. The 50MA was acting as a dynamic support until it too was broken a couple of days ago. The last line of defence is this short term trend line which has been holding strong. The RSI has crossed...

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A Bullish Symmetrical Triangle has formed on Silver with price ranging within the triangle at the moment, a recent Golden Cross as well as a divergence indicates a bullish breakout could be on the horizon. The recovery since the March lows has been steady and healthier than those in the stock market. I think price will range for a little bit longer as it gets...

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Quick look at the ASX200 during the first red day in the last seven trading days... Price now seems to be at an area of importance on the 1hr which formed a small range the last time it was here, if it breaks 5945 easily then it could go into free fall. There is also a massive Morning Doji Star reversal pattern on the Daily and the problems in the economy and...

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A Cup and Handle has been forming on the Daily since the 16th of March, with price breaking out from the handle and coming back to retest the resistance of the cup. Fits all the characteristics with decreasing volume in the middle and increasing on the way up, OBV is looking very good on the Daily, Weekly and Monthly. Entry: $4.50 Stop Loss: $4.27 Target #1:...

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After filling the gap created by the drop in March, an Evening Star Reversal has formed on the daily indicating a possible bearish reversal. Price also failed to close above 50% Fibs. A Shooting Star has also formed on the 3Day tf and a Doji on the monthly. The OBV is also looking very weak on the monthly as well. With all signs leading to the bears, this is my...

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With the monthly close tomorrow, BTC really needs a close above $10,200 to remain bullish. If it breaks $10,200 it can push to create a HH, although if it can’t then it looks like a retest of the $7,700 area is more likely before a push higher for another go at breaking this trend line once and for all. Instead of giving one analysis I’ve decided to write down...

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BTC Dominance looks to be squeezing into the tight corner of a symmetrical triangle, an attempt to breakout to the upside was made and held back by the 200 Day Moving Average. The 50 Day MA and 10 Day EMA could also act as dynamic support… The long wick to the upside on the Weekly time frame suggests the bulls are strong, BTC itself is also at a critical Order...

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After the March lows, price has been retracing as lots of new investors and the government pump ridiculous amounts of money into the markets. The May monthly candle closed today and failed to penetrate the 50% Fibs and the now resistance of the Ascending Channel that has been apparent for the better part of 30 years. What does this exactly mean....? The long wick...

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Ascending triangle forming on the 4hr time frame. Multiple touches of resistance without being able to break shows the strength of the bears at the price! This also indicates that when it breaks the move will be strong with the next level of resistance at $250. RSI sitting just above 50 showing the strength of the trend. Target buy will be just above the breakout...

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A clear Saucer pattern has formed on the Daily BTC time frame, although it looks like price has been rejected with a period of retracement coming that could lead to a Cup and Handle. A Bearish Divergence has formed on the OBV as well which is yet another sign of a possible retracement to suggest this is a Cup and Handle forming. After the pullback, OBV should...

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After a small uptrend in the last week, price has been rejected for the fourth time since October. Accompanied by long wicks to the upside suggesting bulls are losing control, even more confidence with the most recent Shooting Star candle that formed on the daily. Long wicks to the upside on both the weekly and monthly too suggesting a pull back before their...

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After a period of consolidation and multiple rejections of resistance, TGR is having another crack. If it is able to break through 23.6 Fibs, the next level of resistance is at 38.2 Fibs. While the Gravestone Doji doesn’t provide a lot of confidence, it does show that the bulls were able to regain the control for the day. Rising OBV and the bulls controlling the...

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AFI has been in an uptrend since August of last year, price was rejected and created a short term resistance level. Looks like it's due for a retracement on the Daily, Weekly and Monthly with long wicks to the upside. RSI also showing overbought on the same time frames. The next support level is at $6.99, although a tight stop will be important as it is possible...