Hello All. Looking at ETHUSD on the weekly timeframe, we see that Etherium is inside (the yellow) descending wedge/falling channel which is a bearish pattern. Etherium is currently approaching the resistance line which sits at $2700. If etherium can break this level and get back inside the (white) ascending channel, it will be a bullish sign for etherium. It is...
Hello All. Looking at AXSUSD on the daily timeframe, we see that the price of axie infinity is trading inside a descending wedge/falling channel. This is a bearish pattern and is currently testing the resistance of the channel at $46. It is important for AXSUSD to find support at this level or it can fall to the next support level which is at $37. On the daily...
Hello All. Despite the drop and the bearish market sentiment, let us look at this bullish scenario for BTCUSD pair. Looking at btcusd on the weekly timeframe, we can see that bitcoin is inside a major ascending channel/rising channel. The rising channel with an upward movement is a bullish pattern and has a potential target at $73,000. This is a 100% potential...
Hello all. Looking at Litecoin on the daily timeframe, we see that litecoin is currently below the 200 day EMA (bearish sign), and also broke below the long (green) ascending line. The daily stochastic RSI is also bearish as it is in the overbought territory showing a reading above 80 (on a 0 to 100 scale). However, Litecoin is inside a falling wedge pattern...
Hello all. Here is a quick Saturday morning market update on the Etherium price and where it is heading. Looking at ETH on the daily chart, we see that we have fell below the 200 EMA and also broke bearish from the descending wedge. In my previous Eth update we predicted that Eth can fall to $3200 level which is already confirmed and as we are currently trading...
Left Brain Versus Right Brain-Thinking vs Feeling Hello all. I put this educational content to help you realize how these two very important psychological concepts play part in almost every traders life. I wanted to bring to you this unusual educational content which I personally learned from a book called, “Trading from Your Gut” by Curtis Faith. This...
Hello all. Looking at BTC on the daily timeframe, we can see that we have formed a head and shoulders pattern. This pattern is also visible on the weekly chart. We have two possible targets according to this pattern because, we can have two necklines for this particular scenario. First scenario which is already in play, puts bitcoin at around 25k-30k range....
Hello All. Looking at Luna on the daily timeframe, we can see that we have broke bearish out of our rising wedge pattern. The price target for this pattern with its measured move has already reached, however I believe there is more downside action to anticipate. If we use our Fibonacci retracemant tool on the daily timeframe, and draw it from swing low to swing...
Hello all. Looking at Etherium on the daily timeframe, we see that Etherium is currently trying to break out of the descending wedge pattern. This breakout is already visible on the lower timeframes (4 hr or 6 hr etc.) however, we will wait to see the breakout on the daily timeframe. This is a bullish pattern and if we extrapolate a measured move for this...
Hello all. Looking at chainlink on the daily chart we see that we found support around $18 right at the long ascending support line (yellow line). If we draw a resistance on the daily timeframe we get a resistance sitting at around $31-$32. The fibonacci retracement from swing high to swing low gives us a golden pocket target which sits at around $29. This also...
Hello all. I believe most of us saw that iPhone "stock" just an hour ago was showing bitcoin price at $32,400. However, no other charts indicated this drop. Can bitcoin actually go down to 32k? Yes and here is how. Bitcoin currently trades inside a descending wedge pattern. This is a bullish pattern but it is no secret this pattern can break bearish as well....
Hello all. It is a decision moment for Bitcoin as it can break towards the upside or downside any second now. Currently BTC found support in the Fibonacci retracement golden pocket and is bouncing off the descending wedges's line of support. Looking at the charts on the daily timeframe, we can see that previously bitcoin been inside descending wedge patterns...
Hello all. Etherium looking strong on the daily chart as it found support around $3900 which corresponds with the long term ascending line of support (the green line). Two possible scenarios can play out for Etherium before the end of this year based on two different patterns. We see that Etherium has formed a descending triangle on the daily, which is a bearish...
Hello all. Looking at Solana on the daily timeframe, we can see that we broke bearish out of the descending triangle which gives us a possible drop target to $140. However, on the daily, we can also see that Solana found support on the fibonacci golden pocket around $165-$170. Also, the long ascending line currently plays support for Solana as the price holds...
Hello All. Looking at ADA on the daily chart, we can see that we have reached the bottom of the descending channel at around $1.3 which currently plays as support. Strong VPVR level of support sits right around $1.20 which makes me believe that it is a strong level where ADA can find support in case the price drops further. The rectangle highlights the major...
Hello all. For full analysis on this symmetrical triangle check out the chart below of my previous analysis. Looking at 4 hourly chart, we can see that Btc broke bearish out of the symmetrical triangle pattern. If we extrapolate the measured move for this pattern, we get a target of $45,800. $45,800 also corresponds with the Fibonacci retracement golden...
Hello all. Looking at Etherium chart on the 4 hourly time frame, we can see that Eth price is currently trading below the 20 EMA. We also broke below the symmetrical triangle pattern, which as we know has an equal chance of breaking towards the upside or the downside. Since the price already broke bearish out of the triangle my price target for Eth is around...
Hello all. There is no major change in mana chart since my last update so i will keep this short. Mana has formed a symmetrical triangle which is more vivd on the 4hr chart. This pattern has equal chances of breaking upside or downside. The apex of the triangle is very close, and will break on or around December 10th. Depending on BTC's performance, Mana will...