Ethereum was looking really strong, however, this drop occurred really quickly, it is most probable that the whole market will be retesting their break out points including Ethereum's break out from the bullish rectangle. the support for the bullish rectangle can be seen around 280-290, in addition, there is an RSI support in this region, however, even when the...
Currently, the price objective of the broadening wedge has not been hit, that is bitcoin's failure. If the top of the broadening wedge does not hold, then it will most likely retrace. In White, there was a small ascending triangle/Double top on the 4 hour time frame, and it broke out to the down side, it is possible that BTC will retest the top of the broadening...
This pattern is not even close to being complete, and there is major upside potential as bears have shown extreme weakness at halting this move. The parabolic pattern: This is most likely a parabolic pattern and there have only been 3 bases to this parabolic move, this means that there is still a high probability that the price can at least double from the price...
Its not one hundred percent, but this really does look like a continuation inverse head and shoulder pattern, everything matches in terms of volume and shape of the graph. The price objective if the inverse head and shoulders were to break upwards would be 1249 satoshis which can be seen in the purple arrow. In addition there is major support around 300 satochis,...
So far, I have not seen a chart similar to this posted on Tradingview, perhaps people knew of this and I am just one of them to stumble upon this, however, I think this is important. What I found: There was a strong total RSI trendline that occurred around September 2014, and until 2018 the market has been supported by that trendline. Only until January of 2018...
Of most of the major altcoins, ETH has been extremely weak, and this is unfortunate because it is a strong project. However, I think it will be catching up with some of the other major cryptos. For ETH there are three possible patterns occurring right here: a bull flag, a bullish rectangle, or a head and shoulder top. A Bull Flag or a Bullish Rectangle: These...
In this chart, against USD, Litcoin can be seen in the rising channel, and within that channel there is a symmetrical triangle with a price target of the upper trendline for the channel, 157-160. It is possible that this current move is an upthrust, however, it will be retesting the top of the symmetrical triangle even consolidating there before it makes another...
Currently, Litecoin/Bitcoin looks like it could either be a cup and handle or a double top, in this idea, I will represent both possibilities. The Cup and Handle: In yellow, the cup and handle can be seen with the resistance at 17752 satoshis, it has a price objective of approximately 24908 satoshis derived by measuring the height of the cup. The to the handle...
I did not realize that the right shoulder no longer had the qualities of distribution, which is volatility ; instead, it seemed much more stable which is a hint of accumulation occurring once more. It is highly probable that this pattern fails, however, there is supply at low 9000 levels. There might be some front selling to push the price down, but it looks like...
I wanted to do a more thorough analysis of the right shoulder in regards to this pattern, and after more scrutiny, it appears as if the right shoulder is a rising broadening wedge (blue) with a rising wedge (purple)contained within it. There is approximately 8 hours to the resolution of the rising wedge within the broadening one. Rising wedges are naturally a...
It appears to me that bitcoin is topping and this is a significant top. It is known as a complex head and shoulders top and it is known this because it follows the same principle of a normal head and shoulders; however, there are multiple shoulders or multiple heads. It was difficult to spot for me due to the fact that the neckline is off, however, it can be...
With this new information, I am as bullish as I can be right now. So, I was looking for more solid evidence that bitcoin is prime for a huge explosion, and I found some really good evidence on the monthly time frame using Japanese candlestick analysis. In the first part of this analysis I spoke mostly of the RSI and how the Weekly RSI is exhibiting failure...
I have been feeling bullish for a while now, and there are a lot of false signals out there, but after bitcoin cash popped, I felt something was different. So, I have been on the bear train for a while now, and I have been saying I'm pretty bullish a person, so here is my bullish take on bitcoin right now. Because this is going to be a change in market direction,...
Ethereum was certainly the powerhouse of the rally that happened on September 12th to 13th PST. It dominated the market, literally steamrolling through the bears, but I am concerned that it may get steamrolled once again. If you haven't read my other analyses, I had mentioned that bitcoin dominance is rising so it is possible that these charts are not the best...
As I have mention in my bitcoin analysis, there are a lot of bullish divergences occurring on the daily, big ones, however, I do not know the strength that each of this coins have to fight the possible trend of bitcoin or if they have enough strength to pull bitcoin out. So, this is definitely an interesting situation and it would surely display which of these...
There are a lot of things happening in the crypto world, I certainly feel bullish, in a lot of altcoins, I see a daily divergence occurring. However, I do not see the same thing for bitcoin, and I don't know how I feel about this, but my goal is always to analyze as objectively as I can and determine the possible situations we are in. Synopsis: 1.) After that...
So the price of bitcoin went about 200 dollars above my target and Right now I am using the bitfinex chart because it is leading the way in terms of bullish strength, which makes sense because it also lead the way in bearish strength on the downfall. There is a possibility that if this strength persists it may be able to break out to make a higher high, above...
Okay, so there a couple of points I would like to make. First, everyone is contributing this spike to Bitmex shutting down its servers for maintenance, that is probable, but let me explain that Bitemx is a Futures exchange: a bitcoin derivative, something few people understand, which means that they do not actually trade bitcoin, instead they trade contracts and...