Ripple’s analysis for today is carried out on a 4hr timeframe from August 14, 2018 to current date. Price action closing above ~$0.34 saw Ripple’s price confirm and double bottom which led to a price high of ~$0.79 on September 21, 2018. The meandering action in Ripple ever since is captured in this analysis using a downward sloping channel (ideally bullish)...
September 21, 2018 to current date is presented in this CHFJPY analysis on a 4 hour timeframe. Bearish momentum highlighted by the bearish channel that carried downwards from September 21, 2018 appears to have terminated on October 26, 2018 at a price low of ~111.56. Part of this bottom price action for the CHFJPY is also shown in this analysis to have formed an...
The 4 hour time frame of the AUDJPY is presented in this analysis on a 4 hour timeframe. Primary focus and attention is given to the bearish channel that is shown on the chart. Price action successfully closed above the channel that lasted for ~6.5 months on November 6, 2018 at ~81.73. A breakout of the downward sloping channel does provide a bullish bias, and...
A logarithmic chart on the Daily tf is presented in this Litecoin analysis. Over 11 months of price action is shown which includes price at a high of ~$370.78 (December 19, 2017) to current date. The simplest way to describe trend since December 19, 2017 is unquestionably a downtrend in Litecoin as it is for most of the cryptocurrency space. A bearish channel is...
It was mentioned in the previous post for Ethereum analysis that the sideways price action which lasted over a month suggested a sideways channel whose width could be used to project a minimum expectation for price upon breakout. Ethereum broke out below the bottom of the channel and is currently attempting consolidation with the width of the arrow hitting the...
It was mentioned in the previous post for Bitcoin that the bearish channel (in dotted lines) would be indispensable in monitoring the current bearish price swing. The 6 hour time frame chart presented in this Bitcoin analysis does show price action consolidating at the bottom of the bear channel at ~4457.50. Further selling could result in Bitcoin targeting...
September 5, 2018 to current date is presented on the 1 hour chart in this GBPCHF analysis. 1.25670 and 1.25224 indicate support area for the GBPCHF should price action close below the bullish trendline drawn on the hour chart. The bearish price swing from ~1.29463 includes a falling wedge pattern which ideally is bullish. A close above the pattern at the...
Litecoin analysis is presented here on a 4 hour time frame candlestick chart. Price action from September 4 to November 14, 2018 is outlined in this analysis using a descending triangle chart pattern (ideally bearish). Price breaking out below $47.84 confirmed the bearish implication of the pattern. Besides, the width of the pattern provides a useful way to...
The purpose of this analysis is to provide a quick update on the current Bitcoin price action. The bullish channel provided in the previous post has been broken to the downside with price reaching a low of 5,558.20. Further downside is anticipated with the width of the channel serving as a highly valuable guide is estimating where downside momentum might be...
September 12, 2018 to current date 2 hour timeframe is shown in this Cardano analysis. Also shown on the chart is a downward sloping price channel (in red color), with a smaller bearish channel nested inside of it also indicated. 0.00001211 and 0.00001112 are price levels to pay attention to as a move above the former (and especially above the top of the...
The 4 hour timeframe of Eosio is presented in this analysis. April 29, 2018 marks the origin of a bearish channel that terminated, with the current pattern identified as a symmetrical triangle that has been in place since August 13, 2018. The latter chart pattern suggests a stalemate between the supply and demand for Eosio. A breakout to the downside implies a...
The 1 hour timeframe of the GBPCAD is shown in this analysis from July 31 to current date. A symmetrical triangle (tentative) is identified as the most recent chart pattern in the GBPCAD from October 2, 2018 onwards. Further bearish action is anticipated to successfully hold support around ~1.66683 and 1.65933. On the other hand, lack of bearish momentum and a...
The 6 hour timeframe of Stellar Lumens is shown in this analysis using a log scale. Price action ever since January 26 this year has remained in a side trend that is best described as a symmetrical triangle chart pattern. Eventual breakout of the ~10 months chart pattern could see the price of Stellar Lumens collapse on a confirmed downside breakout or move up...
Ethereum Classic is shown in this analysis from August 7, 2018 to current date. The most recent pattern coming after a prolonged downtrend on the 1hour timeframe chart is a falling wedge chart pattern. Ethereum Classic as at the time of analysis has clearly broken out of the wedge. This implies that the current trend in Ethereum Classic likely is to change from...
Ripple analysis for today is carried out using a 4 hour time frame log scale. It was mentioned in the previous post that price action breaking to the upside of the bear channel, and also above resistance as indicated by the horizontal blue lines (previous post) would argue for a bullish bias in Ripple (XRP). Commentary is provided based on the numbers marked on...
Bitcoin analysis for today is carried out on a 4 hour time frame, showing price action from June 18 to current date. The spike in the price of Bitcoin from ~$6,251.90 to $7,788.00 has been followed by a retracement in price action with a new low of $6,242.10 registered on October 31, 2018. Lack of bullish momentum resulting in the resumption of an uptrend implies...
The 4 hour tf of the USDCAD in this analysis covers price action from June 22, 2018 to market close last week (November 2, 2018). A breakout above the bearish trendline can be observed on October 26, 2018 which implies bullish action in the USDCAD. However, formation of what is best described as a rising wedge from October 2, 2018 carries a bearish message....
The logarithmic scale of Bitcoin Gold is shown in this analysis on the Daily tf. ~8 months old downtrend (January 14, 2018 to August 24, 2018) in Bitcoin Gold is indicated using the bearish trendline. Bitcoin Gold successfully broke out above the trendline on August 27, 2018, which implies possible trend change, with demand overwhelming supply. Initial bullish...