I think people forget (myself included) to back out to the DAILY time frame once in a while, in order to gain a better perspective of where we're at right now. BTC has had an amazing run to $14,000 without a real solid correction, so I would not be surprised to see a 30-40% correction before the next leg.
Take a look and you'll see 30-40% retracements...
Been keeping my eye on this one for a long time, waiting for an entry point.
Looking for an entry point around 2340 sat. Have a stop loss ready to go in case we lose this line of support. Will monitor close to see if daily candles start closing green.
Key line of support: 2340 sat
Aug 3: went up 83%
Nov 19: went up 417%
Long term play for WTC is looking good for 50% returns or more.
Pretty simple chart. Current price action followed a well defined downtrend channel. I hesitate to call it a bull flag because it fully retraced to previous low. However, support zone around 2550 sat has held steady again, and it looks ready for a reversal. After reversal, look for choppiness on the...
After an incredible run of more than 500% between Feb 24 and Mar 27, Ravencoin (RVN) has cooled off considerably. But once we're sure the top is in, we have a good chance to get the fib layout right. Switch to 2hr chart, click on the Fib Retracement tool and plot your lines from the lowest point, to the highest point. This sets up our fib lines. From a personal...
ENJ had a stellar run recently. Between Feb 24, and March 9, it went more than 500%. Now it's looking like it will give it all back.
There could be a good opportunity here to score a 10-20%+ retracement.
First line of support (minor): 1750 sat
Second line of support (major): 1000 sat
If it finds support at 0.786, look for a possible breakout from...
MATIC is an interesting coin.
Backed by Coinbase Ventures
Since early May, it's up over 600%
Fairly high circulation of 2,160,114,068
Highest BTC paired volume on Binance by a long shot
You can see from the common patterns it's formed, it appears to be quite a predictable coin. Bull flags have ended with breakouts. Bear flags have ended with a fall. Currently...
Grab your partner round and round. One goes up and the other goes down.
Good day ladies and gents. Looking at recent price movements for BAT, it's an important reminder of the weight that BTC and ETH hold on the market. Take a look at ETH starting on Dec 18. After 11 days of sideways movements, it finally broke through a line of resistance and went on an 8 day...
A symmetrical triangle is a bitlatteral pattern, and it presents a bit of uncertainty. It could break out up or down from here. Watch the candles closely to see how the price action and volume react as the price nears the end of the wedge. If there is no consensus, it could continue to push sideways. For those looking for a good entry point, I'd wait until we have...
Project Metropolis for ETH
Stage 1 - Byzantium - Oct 16, 2017
Stage 2 - Constantinople - Jan 16, 2019
Previous action during stage 1 upgrade
On Oct 12, 2017, ETH had a price spike from $302 -> $346, with a significant increase in volume starting around 20:00 (UTC -8:00), and with the peak around 11:00 the following day, roughly a 15hr time frame. 24hr volume...
Hi ladies and gents. Here's a look at XRP for today.
Looks like we've got a falling wedge pattern forming on XRP. This is a continuation pattern.
You'll notice this falling wedge pattern follows a steep rise in price on Dec 18 which gives us our pole.
You can see the upper trend line (red/resistance) and lower trend line (green/support) are converging to form...
We continue to have sideways movement between well established lines of support and resistance. The line of support has been tested 8 times.
However, movement downward is running out of steam as evident by the last dip that was unable to reach our support line. So it's no surprise the price is now flirting with a breakthrough of our line of resistance. If this...
Falling wedge forming on Stellar Lumens. A falling wedge is a reversal pattern and we should watch closely to see if the price can break through the upper trend line of resistance (red).
If the price breaks through near point B, then we take our Fibonacci retracement between EA (highest to lowest).
If the price breaks through nearer to point D, after another...
BATETH on Binance, 30m
After breaking upward near the tip of a descending triangle, we've locked into a consolidation phase with movement going sideways.
Remember we must have at least two touches to form a line of resistance or support.
We've got a solid support line (Green) with six touches, so if it finally does break through downward, I expect...
BATETH on Binance, 30m
After yesterday's retracement to Fibonacci level 0.786 ( Elliot Wave ABC ), we have a bearish pattern emerging with the formation of a descending triangle (red shaded area). The intriguing parts are the well defined lines of support and resistance for this continuation (sideways) movement. We have two nearly identical highs which form our...
BATETH on Binance, 30m
1. Support trend line
2. Resistance trend line
3. RSI indicating oversold
4. Inverted hammer candlestick formation signaling possible reversal
5. Confirmation candlestick following inverted hammer to confirm trend change
6. Fibonacci levels to identify potential sell point to take profit
Watching the charts this morning for an early...