Today I want to talk about Bitcoin in a global view , for this case I took 1 week chart. First of all, I want you to pay attention to the Oscillators, they are completely overbought, RSI = 78.+, Stoch. RSI = 99.+. These numbers tell us about the very bearish situation on Bitcoin, however, there is still some place for growth , so $BTC has a few chances for...
First of all, let's take a look at supports and resistances . $LTC has a strong ascending support and horizontal resistance, both were mentioned on the chart. Support is much stronger than the resistance which is a good first step for a nice growth. Next. Oscillators are oversold, which increases $LTC chances of breaking the resistance, but not the support ...
The coin looks very juicy from the technical side. There we can see a convergence on RSI on the majority time-frames. Double bottom ob the 1D chart and on the 4H chart. Moreover, the price fixed above the strong horizontal levels. And by the end - oversold according to the Stoch. RSI data. If you found this idea interesting, do not forget to Like it and...
This project is very strong from both sides (fundamental & technical) . Fundamental Part: Binance supported a Red Pulse Phoenix ($PHX) migration to the Binance Chain. Moreover, Binance exchange listed this token. As we know, Binance is on a good hype at the moment which makes these news very strong and positive. Technical Part: There we can a strong...
We all know that $BTC has formed an up-trend. However, recently Bitcoin just broke through the major resistance ($8500), exactly from this resistance the market started dumping to $3000 in the 2018 year. This fact makes $BTC growing twice stronger. The next closest resistance is located in the zone $9300 - $9400. Moreover, at the 1D chart, RSI has formed a...
$BTC broke the resistance at $8360 and takes hold between two important ascending levels. The price didn't breke the ascending channel and now located inside one, therefore I expect $BTC to fall for a bit, before going further upward. However, there is a big chance that we will go upward to $9000 without any corrections, to do this the price needs to consolidate...
At the moment we see a KEY level on $BTC, it is located in the range of $8100 - $8200 . In case the price will take hold above this lelve, we have great chances to fly upward and face $8500 or even $9000. However, in case the price will stay at the same place, we will dump to the $7500 - $7600 zone, then to the $7000. Moreover, the price formed a Double...
Today we will take a look at the Renko Chart , this chart can show us trend reversal zones , it is very helpful in making Trend Analysis. Currently, we can see an Eliott Waves pattern, cycle 1-5 began at the $11000 and finished at the $3500. After the 1-5 wave , we usually see a correctional wave ABC, or a reversal wave 1-5. Both cycles have two trend waves...
After reaching the local peak at $280, $ETH calmed down and the local uptrend was changed to a consolidation . The first reason is the correlation between $BTC and $ETH, the second one follows Bitcoin in 9/10 cases . However, Ethereum has its own reasons to go lower. Let's start with the triangle that had an almost horizontal support , this pattern tells...
Today we decided to compare crpyto and stock markets . On the image above you can see a Bitcoin chart and the Coca-Cola company chart. The similarity is very obvious , very pity that nothing really unifies them. There are only two similarities: both are assets and, what is more important, both currencies trade people . The value of Coca-Cola stocks depends on...
During the last flat $BTC formed a native bearish wedge . Important thing: the resistance of this wedge was created much before the wedge was formed which makes level even more strong. Therefore, if the price tries to go upward (above $8350 - $8400 level) - it would face not only a bunch of strong horizontal resistance, but two ascending strong resistances as...
Advise to buy some Verge in the grey rectangle zone. Reasons: a bull flag, the price just jumped from the strong support. Buyers are very strong, while sellers are extremely weak. Targets are on the chart.
Recently I started mentioning that there are a lot of traders who draw a "Cup with Handle" pattern on Bitcoin. I hate to see it . In this idea, I will try to explain WHY there is NO Cup with Handle on Bitcoin chart, in details. Straight out the gate, I want to remember you that a Cup with Handle is one of the most difficult and rarest patterns from all...
$XRP looks very juicy , there is a bunch of reasons that tell us about possible local growth in the very near future . First of all - $XRP formed a double bottom when one jumped from the support at 0,00004 BTC. This pattern attracted attention of traders which promoted good volumes . At the moment we can see a formation of golden cross , which can easily...
As we all know, gaps on CME exchange are closed in 93% of cases , and recently these statistics are only more often confirmed. Usually, gaps that weren't closed, are not significant, they were NOT formed on weekends . However, we can see that during this weekend there was formed an important gap, which has to be covered at least with a wick. Yesterday we...
The entire crypto industry has been waiting for approval of the Bitcoin ETF by the Securities and Exchange Commission (SEC) for one and a half years, dozens of applications from funds were postponed and rejected. For a long time the price didn't respond to SEC decisions, because everyone already knows the outcome. But what happens if the commission suddenly...
It turned out that H&S pattern was built in order for MM to be able to buy more $BTC, thanks to the sell volumes. After the whole market realized that the price wasn't going down, some people began to buy back , changing the trend to upward again. H&S pattern was broken and this recent high around $8170 can't be the right shoulder . The strongest support...
After double top formation BTC broke support at $7600-7700 level and stopped around $7000 . Based on the conclusions of the previous idea, we continue to draw H&S , which implies a correction to $7500-$7600 level for the retest of resistance. On the other hand, let me remind you about the gap that we've closed with a wick. However, the gap is considered...