About meTechnical analysis of Fiat currencies and cryptocurrencies since 5 years on TV. The WothanCryptoEye Blog: https://steemit.com/@wothancryptoeye
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Price has topped out in overbought territory, above the upper band of the
Pitchfork. It is now seeking support by the median line/Yearly R3/Monthly R2
and the Kijun Sen (White equilibrium line).
Chances are we will see a bounce from here if price closes above the
Kijun Sen (0,064422). If a close below this level and a close below
previous lows at 0,0609, chances...
Price has completed a rather perfect AB=CD pattern (see small letters). The D-target
was @63K and ATH was reached earlier and somewhat higher @ 64,9K
The retracement of the AB has followed perfectly
the fibonacci levels. Last weeks drop reached the 38,2 fib and this
weeks sharper drop nicely bounced off the 61,8 fib @ 30,6K.
If we make a larger AB=CD pattern by...
Solana is breaking out of the Flag and the projected target, measured as the length
of the pole, is at 70.00. If price returns inside of the flag and the Cloud, it will
invalidate this particular pattern (which doesn't exclude other bullish scenarios).
Note, the timing with the bullish MACD cross.
Price has entered the cloud and shifted the trend
to neutral on the daily tf. Tomorrow will likely also
give a bearish twist in the projected cloud.
However, we are now seeing a long pin-bar (Hammer)
being formed, piercing the Monthly S1.
ATH sits exactly at the Monthly R1 and now
we are at the very bottom of the normal correction
range (with a strong...
BNBETH pair has reached the low of the Kumo Cloud
which coincide with the lower line of a symmetrical
wedge. The projected Cloud is bullish, so one could expect
support around the 0.223 level. Even a breakout below
could be absorbed, due to the bullish projected cloud.
At current levels it is a wait and hold situation for
potential Eth buyers, since chances are...
Bitcoin is retracing after making an ATH @ 65087.
The MACD indicator shows bearish divergence.
If price closes below 59800 and breaks back inside
of the wedge formed by the ascending trendline and
the green resistance level around 60 000, we may
see a sell off and continuation to the downside. If
the trendline is broken we may see a deeper move
maybe all the way...
Bitcoin is slightly overbought right now, which can
be seen in the break above the cloud with the
projected cloud still bearish. After creating a double
top just above 60K price has moved down in two waves
to retest the lower cloud support, as well as the
200 SMA and almost reaching the 50% Fib of the
recent leg up. The current bounce was clearly
BTC has broken out of a channel and retested the
breakout. Currently it is moving up supported by a
trendline. The nearest target lays at 65350 which
is the new Monthly R1 which is in confluence with
the Weekly R2. The target of the Channel/Flag
pattern stands at 69000.
However, if price breaksdown below the trendline
we might see a deeper fall towards the...
Price has completed a perfect AB=CD pattern and is now
retracing in a descending channel (Bullish bias). Also note
how the 61,8 fib of CD leg touch the B point nicely. The major
support and first target of the ABCD pattern, is the 38,2 fib of CD leg,
which stands at approximately 49200, which is in confluence with
the lower channel and the cloud in the next few...
Bitcoin has been bouncing nicely in the lower half of a Pitchfork and is now at
a critical point at the end of a symmetrical wedge and the lower band. A breakout will likely point the
direction for the next move. First targets on each side has been marked in the chart.
A break below the lower Pitchfork band, will mark a trendshift, and we might see more
Intermediate support @ 54600
Strong Support @ 52400 (38,2 Fib of recent upswing/50% Fib of correction leg/Lower Pitchfork band/Daily Kijun Sen (Ichimoku equilibrium line-white line))
We might be seeing a whale push today, and the dream level for them is the 52400 level with confluence support
which give a strong push back up.
Any close below the lower band of...
I made a harmonious study of the previous leg up and studied price in relation to the Kumo Clouds upper band.
I noticed a nice pattern, were Price hit the top of the leg up when the Kumo Cloud ended a flat period and
started to rise and then broke above the previous high, after a correction phase, when the Kumo Cloud started
to flatten again.
I then studied the...
Clear, strong bullish divergence is visible on the daily and H4 timeframe, seen in two waves.
Price is in extended bearish territory with expanded bearish Kumo Clouds. Trend
followers will have to wait for entry until a buy signal appears by the Ichomku, while
traders using divergence has a golden opportunity to enter long, scale in or increase
Price has come off the 6000 mark and returned to the broken support line
(broken on June 10). This former support line intersects with a resistance
trend line going all the way back to the beginning of march. Price has tested
the support line from below and is now attempting to pierce through the
intersection of the both trend lines, while at the same time...
Looking at the log scale on the daily timeframe, we see that price is still
retracing some of the parabolic move that happened during 2017 especially.
A Triangle pattern has been broken to the downside and the SMA200 moving
average is also rolling over. This could lead to a sharp sell off and a move back
to the trendline marked in the chart, which would perhaps...