EncryptShawn

EncryptShawn

At $58k BTC kicked off its descent and has now proven path in a descending channel with a few prominent support lines on the way down. The width of channel is enough that it supports the idea we will push our way down to major support which for BTC is a trendline that was establish 5 months ago in October 2020 when BTC started its ascent. This is a strong...

EncryptShawn

Quick update, tremendous showing by LINK! We shattered through the previous all time high after numerous failed attempts to do so over this year. Things look extremely bullish for LINK, just keeps gaining momentum. Order books seem to be dwindling some, suspect a pullback soon but still very bullish. (Captured on vcdepth.io)...

EncryptShawn

I haven’t updated this chart at all since the last time I provided TA on it many months ago. I have been focused on automated trading over the last few months and in fact we should be announcing integration of our order book and order flow data @ vcdepth.io into a major automated trading platform in the near future. Since establishing the first ATH at the end of...

EncryptShawn

Apologies for not being as active with TA posts, I have been more focused on automated trading and in fact we are in process of working a relationship that will integrate our order book and order flow data from vcdepth.io into a major automated trading platform. BTC is in a unique place worth mentioning. First, BTC has had a 5 year bull run never once...

EncryptShawn

Just a quick word because of where we are and my pointing out this 5 year trendline as a great entry point and the current geo-economic situation. We dont know what effect the cov19 will have on crypto, maybe Sunday was crypto joining the global stock sell off, its too soon to know and we are right at support. Anyway, this is still the best opportunity you will...

EncryptShawn

Last time I covered the S&P we had just agreed to a phase one trade deal after having the prime rate cut 3 times and pumping out $60Billion of new USD every month over the last quarter. I was long all the way to top of the 10 year ascending channel, all the conditions were perfect for a great run for 2020. Then the onset of this Corona Virus showed us just how...

EncryptShawn

TIP: Did you know that you can watch the price, volume and orderbooks (bids and asks) fluctuate on a bag of 10 different stable coins on our stable coin index @ vcdepth.io - This really helps to see when money is flowing in and out of the sidelines. This chart depicts how I see trends and its applicable to almost any chart. I see an...

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I just wrote a bearish capture outlining what happens if we stay in the descending channel we had been bound to since we broke out of our 7 week ascending channel that started at the beginning of the year. Well not more than an hour or two later that channel was broken, BTC broke up and then came back down and appears to have converted the top of that channel into...

EncryptShawn

If we retain our current descending channel then that answer is yes! The good news is that if it does maintain course, there is absolute hard support at $7800. We should be a little cautious and observant if we bounce off of $8200/$8300 support as it could lead us to a nasty head and shoulders that could break the 5+ year ascending trendline in the not too...

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Quick message to say keep a tight stop loss... Things were looking great until recently. Today we saw ETH 7 week ascending channel break and currently looks like it has converted the bottom of channel into resistance now. Whats worse is that BTC broke down out of its channel several days ago and appears to be forming a descending channel now. One thing we can...

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I posted about AGNC at the beginning of January when AGNC was around $17.50, I called for $20 no later than June. What a pleasant surprise that AGNC has continued to stay on fire! Now one might ask how did I turn this little, fairly slow moving stock into 480% gains in just 6 weeks? I mean this sounds like crypto gains, not stock market gains! This is a...

EncryptShawn

Ethereum to $365 early March if we maintain our current ascending channel (6 weeks strong). Both of the previous bull runs maintained their channel until they reversed to complete their wave. The first ETH run end of 2017 went from $300 to its ATH of $1400 over the period of 3 months in 3 distinct runs (That’s an average of almost $100 a week!) The second run...

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This screen captures all 3 runs, our first miracle run to $20k, the run last summer to $14k and this run now. All 3 runs had their own ascending channel. Notice with each run, the return descending channel is more narrow, this is as a result of a larger number of smaller runs versus just a fewer major runs in the past. 2017 run lasted 9 months and had 4...

EncryptShawn

I don't normally do shorter charts, I prefer mid-longer term trading when charting but this was of value to me at the moment with my current strategy so sharing. We have broke through so many resistances with out much sweat, its no surprise to eventually exhaust the run with a need to take a breather. Here we met a long term diagonal resistance which we tried to...

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BCH Resist @ $500, $640, $1300, $1650, $2950, ATH BitcoinCash has been suppressed underneath a two year descending trendline. A major crash in late 2018 drove BCH to super lows ($74) where it has established a new long term ascending trendline, BCH has been bull for 14 months now. It became even more bullish 7.Jan.2020 when it broke above the two year descending...

EncryptShawn

ETH Resist @ $240,$275,$300,*$365,$475, $750,$1130,$1400 Ethereum has been on the down and out for two years thanks to a persistent descending trend line of resistance. It would appear as though 14.Jan.2020 we had a break of channel that came back a week later to perfectly test top of channel as support before blasting off! We see a series of locations that will...

EncryptShawn

I started buying BNB when it was around $2.50 but had sold all my holdings last year to pay for software development. I recently started buying back in as BNB broke out of a 7 month descending pattern at the beginning of February. But it was more than just breaking out of a 7 month descending pattern that is worth noticing. BNB had also crashed through the 2...

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XLM has been a falling knife for two years with no sign of a bottom. XLM has been stuck under a descending trend line that it last tried to penetrate unsuccessfully last June during our bull run. XLM was one of the few that saw an additional rally in Nov 2019 and then saw its low .04 in the middle of December around the exact same time that BTC put its low in....