As stated previously…
A bull run is unlikely, as far as TA is concerned.
Broken rising expanding channel puts the target into low 20’s. In reality we could see lower then that in the mid-long term. That’s not to say that we won’t see a relief bounce soon, but at this moment, there is no relief bounce forecast as the RSI, my holy grail of indicators, simply does...
My price target WAS 34k, with the INV HNS pattern. But we have problems
Weekly 30 and 50 cross
MACD in the green
Reversal divergence RSI daily and 4hr
Expanding wedge/ bear flag
Fake out 27/04/23- shows bullish weakness
Currently forming bearish HNS
34 K is still possible, but BTC needs a pullback for...
The price action for the last couple of months is rather irregular, forming no recognisable pattern. Currently we are forming an expanding wedge around 24k, which can signify a revisit to 18k… or it might be an INV HNS Inverted Head and Shoulders with a target between 30-35k. HNS patterns are notorious for messy right shoulders. Either way, if 18 is revisited, it...
There’s 24! Fell out of the wedge which means topping out. RSI & MACD reversal divergence, and trend brake down: might get to 25 but it’s pull back time to 20ish.
Buy hard on the pullback!
Long/mid term: bullish
Short term: bearish
Clean breakout of 2 falling wedges. I’m looking for a top of 24… because I don’t think it’s a good reversal pattern. The big falling wedge target is 45 (and 70, unlikely at this stage), but the pattern is unfinished, 13, 10 and 6 are still on the cards. RSI daily and 4 hr says tiny bull run is unfinished, which is why I expect 24 or higher and then some sort of...
From a Technical Analysis perspective…
Finally got to the edge of the pattern. 10k move inbound in < 1 week.
Indicators are bullish
MACD, RSI reversal divergence.
Bullish falling wedge.
Potential double bottom (weak)
Otherwise, it’s worth noting
- The BTC move is dependant of SPX (double bottom) and DXY...
Despite buying back in (Heavily)
The bear argument needs addressing.
$18000 absolutely needs to hold
Several stages to this, first, TA
- Weak double bottom with most of the action happening on the lower side.
- also can be viewed as a right Triangle (Continuation: target 14-11)
- despite reversal divergence on all indicators on high time frames (usually...
RSI Reversal divergence
MACD Reversal divergence
Large volume spike on a few exchanges
TD Sequential relevant zone
Downward Channel, near bullish breakout
Bear flag on the 4hr in a right angle triangle (2x bearish) with a mean engulfing bearish candle followed by inverted hammer rejection candle. Reminds me of the 2018 drop.
Blue: Buy orders since 5/10/22
Pink: Sell Orders since 5/10/22
Green: Buy orders before 5/10/22
Purple: Sell orders after 5/10/22
Notice the wick that broke the falling channel , this is why we don’t use stop losses. Lucky for me, I keep my orders open even if the pattern changes so that I can capture those wicks. And I stagger my trades ($1-$4). I sold the...
I thought I’d choose one of the riskiest charts I have in my watch list and test my trading skills with $50.
I choose Labs because of its upside potential, and it’s risk to reward ratio, and because it’s realestate, and because it came pretty close to 0, which is really important to me when selecting low market cap coins, and because it shows signs of reversal...
Reversal divergence RSI, MACD.
Bull flag/descending channel
Large volume spike on BINANCE particularly. Big move inbound. I would say 14 days or less.
Watch for double bottom 17-19. -17 is bearish
BTC Longs rocketed. Now flagging out: long
BTC Shorts bottomed out: now increasing: long
Check Ticker: BTCUSDSHORTS & BTCUSDLONGS
All the signs of a reversal....
1) short term hidden bullish divergence RSI
1) Bear flag, maybe double top
2) long term reversal divergence (bearish)
3) RSI support broken
In summary, neither bullish or bearish but 1788-1814 needs to hold (green box)… otherwise we revisit 1700 and lower.
Fundamentally, I see no reason for 1788 to break. I consider this a buy op.
Bear flag, broke! Yeah, it’s possible for a pump as RSI is showing Rev Div, but too many bearish signs. What’s more is RSI fell far out of support, which is a pretty clear signal (to me) of a bear market. Also resistance at 40, 42, 44.4. At this stage I don’t see any relief pump breaking 44. I don’t think even 42 will break actually.
I’ve said it before, I’ll...
$1.20 worth of Australian 10c coins consists of 75% copper 25% nickel
12 x 10c AUD Coins = approx 2 Troy oz = (Cu = approx AUD) $6.31 x (2ounces x 0.75) + (Ni = approx AUD) $1.83 x (2oz x 0.25) = ($9.46 AUD + 0.92 AUD per 2 Troy oz) / 2 oz = 10.3763/2= $5.18 AUD
so if my math is correct, (and it is hard to get info on these metals in AUS, so...
Despite the bullish news with Biden indirectly accepting BTC as a thing, and plenty of bullish news regarding alts…
…the chart is looking choppy. And there are no clear signs of reversal. If anything this pattern is beginning to look like a bear flag.
Although a mix of bullish/bearish signs, I’m leaning bearish here, short term. Although I’m unsure.
I’m pretty excited as well.
Cup and handle with huge upside potential
We are not out of the woods yet. Realistically (IMO) Gold needs to brake and stay above 2200 before I’m calling crazy targets like 2700. Because of inflation mainly. Normally cup and handles are straighter, which I blame inflation, so either I’m wrong and this a double top (lower time...