BAND has been consolidating since early November. Today it finally left the consolidating phase to start a new bull run. Consider Resistance 1 and Resistance 2 as good profit targets, both placed at round numbers. $7.50 and $10 respectively.
Today, DOGE has finally broken through the upward channel that it has been following for a few weeks. Not only did it break through, but it did so with a very strong few candles, accompanied with high volume. In the snapshot below you can see that the upper trend line was decimated, signaling a strong bullish move in the coming days. I expect Dogecoin to...
Two weeks ago I made a post about the fact that Litecoin broke through a multi year wedge, showing strong bullish momentum. Since then, Litecoin managed to hit the first target of $85, resulting in a 40% return in a mere two weeks! Bullish momentum is still very strong, my take would be that it will remain so for the coming months. However, Litecoin has seen a...
Slack's stock has been following this descending channel since it's boom in June. Investors noticed that Slack is a good "corona" stock since people are working from home and therefore need some kind of communication tool. However, Slack is losing the fight from Microsoft's teams, which is simply a better and more developed product. My play would be that the...
LINK is continueing to rise without stop. In the last few days LINK has ignored the lower trend line, and instead the price kept going up. I think it will continue to rise in the coming week, at least to the first resistance around $17. If it breaks though with sufficient force, consider moving your target to resistance 2, around $20.
On the weekly chart, Bitcoin currently has a RSI value of almost 83 points. The last time this happened was during the great bull-run of late 2018, with a 70% loss of value from the top in the next two months. Although the RSI is not a perfect indicator for predicting reversals. However, it's useful in warning traders when a certain asset is being overbought i.e....
EUR/USD formed a double top on the 4H chart, signalling a downward move in the foreseeable future. The most conservative target would be Support 1, with a R/R around one. Consider exiting part of the position around that area, since we might fall toward Support 2 if USD keeps gaining ground.
AUD/CAD didn't manage to break through the resistance. it's reversal was accompanied by bearish divergence in the RSI, signalling a strong bearish move down. Consider exiting your position around the green marked area, since its close to the trend line.
BNB/BTC broke through a major support (now a resistance) two days ago. Bearish sentiment has not stopped or reversed, but instead signalled that it wants to keepo dropping. Bitcoin's dominance is not going to diminish anytime soon, meaning bad news for the X/BTC pairs. The next major support line is found around 12.3k sat, ie the November 2018 lows which...
GOLD has been following a descending wedge since last summer. The elections caused a surge in demand, but things went better than expected and risk hedging died off. With the current macro political and economic climate I see that the demand for gold is dying, which would cause the price to fall. The descending wedge pattern is a classically bearish pattern,...
NZD/CAD recently broke the resistance of 0.9, signalling a further upward move. It appears that NZD/CAD is following a channel, so I've selected the green area as a possible exit opportunity to exit the long trade. As long as the oil price either declines or stays flat, bullish momentum for this pair should persist.
EUR/JPY has failed to break through the upper trend line, continueing to follow the downward sloping channel. Consider exiting the short trade around the support line, since it might reverse there.
PayPal has recently regained momentum, bouncing off from the lowere trend line in the channel. Recent price behavious is showing higher highs and lower lows. If macro economic sentiment stays positive, like now, we might see PayPal hitting $215 soon again. Think around 2 weeks. Consider exiting your short term trade around there since its a major resistance,...
EUR/GBP has been falling slowly since September. Today's bearish movement signalled a drop towards Support 1. In case bearish news keeps dropping, consider moving your exit towards Support 2, although the trade is considerably more risky.
TSLA finally got added to the SP500 yesterday. The pre-market price is already up more than 13%, with more bullish action happening today as retail traders will enter the market. My take would be that retail FOMO will drive the price to $500 per share in the next few days. If more good (vaccine) news will hit the market next week, we might even see a share price...
Last time I made a similar post about Bitcoin's parabolic behaviour, we were still below 15k. Only 11 days later and we might already be hitting 17k soon. Bullish sentiment is higher than ever. Together with the stock markets, Bitcoin profits from the US elections and the reduction in uncertainty. Pair this bullish sentiment with the constant addition of USDT...
ETH/BTC is following a channel since early October. Recently it has hit the upper trend line of said channel and reversed direction. With Bitcoin showing very bullish behaviour, my guess would be that ETH/BTC will continue to fall in the short term. Consider exiting your position around the green support area. If Bitcoin keeps on rising, you might keep the short...
AUD/JPY is continueing to show bullish behaviour this week. A good place to exit your long position would be the green marked area, in conjunction with the resistance line.