While everyone is talking about the inverted head and shoulders and how it will take BTC to 11k area I am presenting a bigger picture here..
Here we can see a clear flag pattern that BTC broke during the 6k low and has now popped back into the channel.. while most see this as positive I see it as a failed pattern and is now irrelevant.
So where do we go from...
Nothing too special to analyse here, the best trades are the most obvious ones. Stellar has been in a very healthy consolidation period since the prior run to ATH around 6k sat. Beautiful throwback to the lower fib regions and volly showing massive interest on the low pivot points. This could be a humongous gainer in the next month of two.
Very clear ascending...
Very clear inverted head and shoulders forming up here on the 4 hour. Volume confirmation for both left shoulder and head. If comes to completion the next target area will take us around the 11k mark.
Very simple quick post here, 3 hour chart and what I would like to point out is the current formation of the exponential moving averages. The purple line represents the 50 ema and the rest are smaller time frames. Typically when the smaller ones cross over the 50 ema that is an early signal of a longer term uptrend.
Very clear accumulation going on since the ATH run. Corrected down to key fib regions. Wycoff logic looks at play here and I believe we might have seen the spring this morning. MACD shows bullish diversion and RSI is attempting to break the downside. Not much more to say here, keep it simple.
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4 hour XLM vs USD here, as we can see it has entered the second phase of consolidation after confirming the first level with a breakout a few days ago. It has found support at the upper level and is currently forming a falling wedge (green...
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As I have charted, I clearly believe BTC is in a falling wedge consolidation pattern. We had a brutal fakeout yesterday morning flirting below the 13k neckline however if you were paying attention you would have noticed volume to the downside was never decisive and...
Ethereum has had a beautiful rally the past week and currently is in Blue Sky territory consistently making new high after new high.
As such, ETH has revealed the channel it is currently trading in setting a very profitable range for investors and traders alike.
As long as ETH trades within the boundaries it will remain in a bullish setup.
However there are two...
Really not much to write here, we saw XLM breakout of the falling wedge consolidation pattern earlier this week and now we might have our higher low in place.
A few things to note
The higher low on XLM is relative pretty high compared to the last spike low which signals relative strength in the overall market.
Stochastic RSI is possible bucking the downtrend...
Btc currently playing between the middle and upper fib levels now as it has traded over and thus far bucked the short term downtrend.
4 hour close above the former downtrend was decisive in my opinion and BTC now looks like it is in clear consolidation from the prior 20k run as it continues to reject the 12.5k area low.
Technical Indicators are favoring the...
LTC has had quiet the consolidation period since the monster 400+ run a month ago. With the information at hand right now, it is very clear to me that LTC is creating a rising channel from the consolidation.
A breakout above the consolidation flag would likely put us in the upwards channel leading to around 450 to 550 area which happens to match up with fib...
Clear breakout yesterday with very clear confirmation. Now stair stepping it's way back to former highs.
Big resistance around the $0.75 area, would expect some bouncing around there. Above that area XLM has a free ride to ATH and beyond.
All indicators saying we are ready to roll and have plenty of room to go if market conditions are ok (IE. BTC not crashing...
XLM broke the first leg of it's consolidation/downtrend earlier this morning, now working its way up. Not a huge post here as I've posted about the technical in previous posts but so far we are living above the former resistance trend line and have made a higher low which are simple ways to see we have begun a new trend.
All indicators are looking like we're...
Not much to update here, would just like to throw up a chart with my highly sophisticated new trend lines. The long term trendline for this past parabolic advance continues to hold although by traditional technical analysis standards each times it is hit by price action it could weaken.
Is that what's happening here? Perhaps, although if that were the case I...
XLM currently trading above the falling wedge that it had consolidated off the ~$0.80 high. Textbook down to the lower fib levels with volume tailing off. During last evenings FUD episode with Korea XLM double bottomed. Pay attention to the arrow and the spike in volume there as it shows that somebody really wanted XLM around that price.
For Elliot Wave'ers -...
Overnight news from Korea caused BTC to drop about 13%, while the validity of this news piece remains in question, the support trendline for this current pattern emerges.
As you can see, we had a decisive bounce off the support trend line, which happens to be the neckline off the massive head and shoulders every 'expert' has been calling..
Quick little lesson...
XLM in a clear consolidation pattern here, absolutely lovely. Traded down to the lower fib retracement levels on declining volume in this falling wedge here. Clear Support/Resistance here, your risk is a 2 hour close outside the support trend line.
Decision time on this consolidation triangle is coming to a close very soon, in about 36 hours we should have a...
