Reason 1: The white trendline
Reason 2: 0.618 Fib Extension
Reason 3: Yellow candle on the 12hr happens very rare and has about 80% rate of being a local bottom.
Also - potential higher low.
Check also the related idea below.
As you can see on the chart we have the following bullish setup:
1. Holding support on the $18 Support
2. Engulfing weekly candle
3. Holding the support of the bottom of the channel
4. Bullish divergence on the RSI
5. StochRSI crossed from a low read
Invalidation (STOP LOSS): Weekly candle close below $18.8
1st: $35 (previous highs)
2nd: $50 (around...
As you can see the 140 EMA is rather useful EMA on the 4hr timeframe of BTC.
On top of that we have a diagonal trendline starting from the 7 October lows and on top of that we have an oversold RSI, StochRSI and MFI.
Check out the related idea below for what happened the last time I publisher similar idea ;)
If you hit the like button it would really help me...
If you follow me by now you know I like to play around with fib circles. Not a big fan of fractals, but this one fits pretty well, so I thought why not share it.
With or without the fractal crypto does look setup for a big pump coming into end of year, which could perhaps continue into next year as well.
You can also see the channel which is pretty well...
We've reached both horizontal and diagonal resistance level. I expect a pull back at least. I can as well just be a lower high and we might continue going down with the trend, but if we are in the midst of a reversal, still I'd expect at least a small pullback.
Might e a nice short term scalp opportunity.
As I posted before the chart which is showing the importance of the 140 Simple Moving Average on the Daily TF you can see two more bullish points here being the falling channel we're in for the last 3 weeks as well as the trendline which is being respected ever since the corona dump.
I must say that bitcoin is on a weekly downtrend and this usually leads to some...
As you can see the PINK line is the 140 SMA on the daily time frame. It holds a lot of weight.
Bitcoin is currently on a downtrend even on the weekly which always results in a big drop, and we are just holding support on the 140 DMA.
If you see a drop below and specially a closure, you can expect a minimum of 10% drop.
I do enjoy playing with fib circles every now and then and as you can see this one is rather well respected.
You can also see the parallel channel that ETH is moving in since March '20. We also got a bullish MACD cross on the Weekly in the last close.
I would not be surprised if around November ETH has made one if its massive pumps and reaches $12k destroying...
Looking at the daily chart of ETH and most importantly the stochs oscillator you can see that in 176 days this is the 5th time we are testing the same trendline. In the same time we are holding support on the 21 EMA and on the horizontal support of the 1750 area.
If we bounce from this level and the stochs get a bullish cross I'd be expecting ETH to continue the...
You can see the 140 MA on the weekly still holding support for the last 3 weeks and stochastics just crossed to the upside.
At the same time the structure looks like an ascending triangle (bullish formation).
First likely target is 71 area, but as it looks like bitcoin might be approaching its last ultimate parabolic phase (blow off top) the dominance can shoot...
5 hours ago Bitcoin closed a 5D candle.
I like to watch this timeframe as its not very popular but very often it gives very clear picture of what's going on and it comes quicker than watching weekly.
It's currently on heikin ashi candles and you can see marked in yellow the kind of candle which BTC printed 5 hours ago.
Also I have a script which is painting...
This is a 6hr XRP/USDT Chart.
As you can see the 700MA is holding quite a lot of weight as well as the 23 cent level and the 29 cent level.
We just got rejected from the 29 level and I expect us to go down and test again the MA as well as the horizontal support of 23 cents.
After that I do expect XRP to start pumping with the rest of the market, but at least to...
In this very simple chart you can see that DXY is holding support at the 92 level for few months now.
Vertical lines are marking those areas where the stoch was below the 20 level and made a bullish cross.
Looking at it I am bullish on the US dollar for the next 3-5 years, unless this 90-92 level gets broken.
Can Biden's term be better for the mighty US $$$...
Few things make me believe that GOLD is about to go a bit lower here.
This is a monthly chart, so I expect those moves to happen in few months timeframe, not tomorrow.
- Gold has been in overbought levels for over 7 months now.
- Even massive bull moves like the one from 2008 to 2011 always touched the 10 SMA (red one)
- Heikin Ashi candles are showing reversal...
I don't hear much people talk about the 350 MA on the 4H chart, but I find it to be quite significant and respected one.
The fact that a 4hr candle closed above it makes me extra bullish even though I have been bullish for quite sometime.
Based on my previous analysis on the 140 DMA (look at related links) I already bought a big stack at the 9900 dip a month...
So here you can see in the last 550 days of Bitcoin on a 4hr chart the significance of the 350 and 700 MA and the times those lines acted as support and resistance.
A total of 13 times and usually when that happened it was followed by a move of a minimum of 15%.
As of the way it stands right now we just went below the 350 MA and confirmed it as resistance.