It is still very early to scream at a double bottom Adam&Eve but has more time does more I see it forming on the chart and it is very bearish for alts.
So as long as no major resistance area has been breach I do not trade aggressively but still a good chart to be looking at.
I usually don't trust parabolic advance because they are unsustainable and often ends up retracing 60 to 80 percent of the distance from the base.
I think this time will not be different.
It is only my analysis and on a smaller time frame. this is not indicative of the overall trend which is bearish on the daily and the weekly time frame now.
so if you trade the...
People love to talk about fractals so I talk about fractals.
Every time I see a post on Tradingview about a cup and handle in a downtrend it makes me sick. So here a few ones so that you can get a good ideas of what to look for and why next time your are face with an long-term uptrend and a consolidation/continuation pattern.
Trading is not difficult it is about seeing what's just in front of you then manage your emotions about it then applying a good profitable strategy.
In my book multiple signals indicates a buy on BLK as of now.
1- the trend : all EMAs up sloping and higher highs and higher lows on the monthly chart.
2- the RSI : who is crossing up his medium band.
The Dollars index just confirmed a trend reversal last week
We can clearly see the double bottom formation on the daily chart.
All the momentum indicators are on the upside.
A retrace is possible but as long as the price stay above the neckline of the pattern 97.91 I will remain bullish on the dollar.
There is the noise and there is the chart.
On a monthly time frame bitcoin look healthy.
With a technical buy on the 20 month EMA and the 61.8 retrace fib level. and the RSI rebounding on it's bolinger channel median line.
From now on a new close higher from the last swing high (17.0197) would mean a monthly uptrend and buy proxy a new bull market on the bitcoin...
USOIL has been in a tightening pattern since FEB 2019 and is now nearing the end of the triangle.
The momentum is on the downside and indicators or signaling that a big move is near.
I will wait for a breakout to occurs before giving an entry point, targets and stoploss. But keep an eyes on the action.
I'll keep my followers updated.
Each time the VIX was this low it was followed by a surge in volatility on the market. Will this time be the same ? or the trendline will break and we will enter in a new phase of the market as a whole.
Given the constant central banks interventions in the Open market operation system it is kinda hard to know. They are not really respecting TA while they try to...
The price close below the structure then go back in the next week.
This type of price action can be indicative of a break upward.
If a strong uptrend develop from now I will consider buying back in and hop on the waves.
For now it's just an hunch
The analysis on the ICHIMOKU cloud indicate that the market can range maximum until the 20 OCTOBER or about.
meaning that à that point the chikou should have reach the priche and the market will chose a direction.
The previous trend indicate downwards biais.
Two of my favorite indicators are signaling a buy right now.
the RSI after printing a bullish divergence is now crossing the medium line of his bolinger band channel.
And the Stochastic is pointing up out of his lower region. Although this indicator is stronger when combine with an existing uptrend (higher highs and higher lows daily).
There is a lot of overhead...
It is true that all of the cryptocurrencies are really volatile instrument.
so taking some step out of the daily time frame can always be a good thing.
the ready of the ichimoku cloud indicate clearly that we are on our way to make some critical retest before even considering speaking about the B word.
The critical levels are holding out the 240B total market cap...
It is true that the price of Litecoin is currently in an uptrend on the daily chart (making higher highs and higher lows).
From there I'm looking for patterns that can help me do the right trade.
I present to you my findings.
The price made a double bottom formation then reverse and close above the 20 EMA.
the reversal is valid only if there is a close...
Price is contracting in a symmetrical triangle with declining volumes.
the breakout will be huge. Maybe one of the biggest move of the year.
to know in witch direction each trader develop their best hedge.
In my opinion it will be up because of the RSI signature.
But I do not trade my opinion, I trade the chart.
So I will wait for a higher high or a higher low...
Wise men once told me that "the simplest solution is most likely the right one".
When learning technical analysis there is some ground base theory that should be known. Namely Elliott Wave theory and The Wyckoff method.
Following the later we can speculate that XRP is in classic accumulation phases.
If it reach back into is 2018 - 2019 trading range I...
It is common knowledge that longs or exposed to infinite gains while shorts are exposed to infinite losses. In spite of that people still takes the risk to short a market even face with the fact that bitcoin is in a general uptrend since 10 years.
While history does not repeat itself it with a certain irony rhyme.
Let's not let ourselves trap in a paradigm but...