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 is retesting the bottom of the Cloud today after putting in a nice Hammer candle two days ago
on the daily chart.
The previous 30 min candle was about $370 which is the biggest 30 min candle to the upside since the
bottom on Feb 6. This may indicate that larger buyers are stepping in and that we may actully see a
bottom forming right at the Cloud...
Price has come down sharply to the floor of the Cloud and has hit
the Weekly S2 and the 50% fib of the recent upswing. There is also
Hidden Bullish Divergence between current levels and the Feb 6 low,
even though the current move hasn't bottomed out just yet.
The whole process of shifting trend on the daily timeframe takes time
and I think that is what we are...
Price has dropped off sharply during the day and has almost
reached the Monthly pivot point at 9375 which is also previous
low and the 61,8 fib that's been tested before as support.
Price is currently back inside the descending channel, but we
have to wait for a close to see it confirmed. Either way, even with a
close below it, the important thing is if price...
Bulls may be slightly nervous about price being unable
to take out the Jan 28 & Feb 20 highs. Still as long as
price holds above the channel the outlook is bullish.
Also price hasn't yet retested the Cloud after the breakout on March 1.
The bearish divergence seen by the recent top, finally resulted in
a move down. If we see support by the Weekly pp and a...
Ripple has made a move up and traded the Weekly R1 at 1.08.
Currently its retracing some of that. We can see a massive Cloud
ahead of price and we are also starting to see a slight pinching in the
projected Cloud. The Monthly pivot point at 0.89 has given good
support and the MACD indicator has turned bullish again.
Because of the large resistance of the Cloud...
Price has hit the 9200-500 solid resistance and is currently
showing some signs of weakness, especially on the H4 timeframe
were we see bearish divergence. Still, I think the close yesterday
above the Feb 20 close showed determination from Bulls. Next
weeks new weekly pivots will give more guidance as of supports
below, but in general, price should not close...
Price is trading inside the Cloud in neutral territory. From a Ichimoku
perspective, with slightly higher highs/lows, it may be waiting for a
bullish Cloud twist, before making a real breakout attempt to the
upside. Ofcourse, Bulls may worry that price has moved below the
Weekly pivot point at 122, but we do see the yet untraded Monthly
pivot point at 114.5 which...
Price has broken above the long term bearish channel and entered the Cloud on the daily timeframe. Right now it is facing the Weekly R1 pivot at 11160. The red line marks the important 61,8 fib on daily tf, which has previously acted resistance. The trend has shifted from bearish to neutral on daily tf and here on the H4 chart trend is bullish with a bullish twist...
Ripple has been consolidating in bearish territory for a week by the Monthly pivot point at 0.89 and has oscillated up to the 0.97 S/R level. Bulls would like to see a break of this pattern and a close above the Weekly pp at 0.96 which could open up for a pop towards the Weekly R1 at 1.07. Above that are the pivot confluence at 1.22-24 (Monthly R1/Weekly R2) and...
Price has broken above the channel and ran into the Cloud resistance
at 140. Natural price action would see a retest of the broken channel
which we are now seeing. The bearish projected Cloud will add resistance
by the upper Cloud. Still, we have a higher high in place and thus the
bias is to the upside, even if it seems like its not ready to make...
Price has come down after a first test of the Cloud on
the daily timeframe, which was expected. Some slight
bullish divergence on the H1 chart, give Bulls some hope
for another test, which perhaps could be more succesful.
A close above 11000 could take price higher. A daily close
above the Weekly R1 at 11160 would also be bullish. But as
a first step, price...
Bulls are looking for a daily close above 11500 today which would
create a channel break and piercing of several resistances around
this level. This could finally take price to the yet untraded Monthly
pivot point at 12200. This would also shift the trend from bearish
to neutral. The MACD indicator bounced instead of crossed and
is right now looking higher again....
Ripple is one of the hardest hit major cryptocurrencies of the
early Jan Bear move. If you count the loss in % from the high
Jan 4 to the low Feb 6 it lost 83% of its value. And that is
a move that has to be considered a crash. Hence, we have
seen more sluggish recovery afterwards compared to other
major cryptos. Trend both on daily and H4 timeframe is...
Daily trend is neutral as price is moving sideways inside the Cloud.
On this timeframe, something similar is going on but overnigth we
saw some attempts to establish above the Cloud and the Weekly
pivot point at 218. Bulls would like to see a close above the daily
pp at 221.5 which could take price up to the R1 and previous high
at 228. They don't want to see a...
Price has advanced inside the Cloud and broken above a wide
descending channel. Currently the projected Cloud is still bearish
which normally will add resistance and make a breakout less likely
to succed at a first attempt. But because of the channel break we
still might see a breakout from here. Some minor resistance is just
below 150 and then we have the 170 top...
History doesn't predict the future, but it may affect probabilities. I wanted to point out a pattern that is visible on the Chaikin oscillator in relation to price action. If we go back in time and look at the times the Chaikin has dropped down to -10000 or below, it has marked a low that hasn't been traded afterwards, that is a higher low. One exception, on the...
Yesterday price found support by the Weekly pivot point at 9930
and it also broke the tendency with lower highs, lower lows and
broke above the descending channel. It came back down for a
retest, which is perfectly normal price action and has now advanced
to the upper Cloud and the daily R1 pivot at 10510. We can
see that there is a Cloud twist brewing. Also...
Price has fallen rather sharply after the test of the Weekly R1 at 11800,
a level which aligned with a longer term trendline seen on the chart.
Traders who wants to get in and wonders what to look for, one thing
can be a break of the descending channel that has been formed on the
hourly chart. Currently price is advancing back up above the Weekly
pivot point and...