After testing the 1-Week EMA support level, the AltCoin Market Cap seems poised to further back-test to the 2-Week EMA--a level the bulls must hold in order to keep confidence in the upward trend. Both stochastic oscillators are exhibiting bullish divergence patterns that have room to complete.
BTC seems poised to re-test the downward sloping resistance. If we follow cyclic patterns from 2014 then we will break the upper line in the coming weeks for a bull trap-like pattern into a double top before eventual capitulation.
The AltCoin Market Cap has broken through strong exponential resistance levels that have held since January 10th on the daily time frame. After retesting the 12- and 26-day EMAs (which have also now crossed), the daily candle closed back above the relative average of the bull flag formation (the 48-day EMA). If the price action moves into the next channel,...
ETH is repeating history with a double-descending triangle (inside of a larger falling wedge) pattern leading into an ascending broadening wedge. Daily EMA cross is also imminent.
AltCoin Market Dominance is trading above important exponential support that is now acting as the average of consolidation on the daily time frame. That may indicate a coming surge in AltCoins--at least over the next several days. Further, the stochasic RSI shows that the price is ready to move into upper half of this sideways channel.
ETHBTC is looking poised to launch off of a triple EMA cross on the daily time frame. In addition, the stochastic RSI shows plenty of room for the price to run (to the upside) based on prior patterns. If ETHBTC does break to the upside, the 200-day MA and EMA are right above--and these averages rejected the price a month ago at the relative high. The price may...
Altcoin Market Cap overdue for a break of the 12 week EMA resistance. A break of this EMA would likely lead to a rejection off of the 26-week instead. This bulltrap would be in line with the historical market cycle of executing a bull trap before eventual capitulation.
BTC is repeating history with its bullish breakout of several falling wedges.
Bitcoin continuing the trend.
Tentative Double-Bottom on ETHBTC If we can somehow hold this level and break the downwards sloping (and then the upwards sloping) trendline, as well as several levels of EMA resistance (that have held for several weeks), then this may indicate a short-term trend reversal. In other words--ETH may no longer depreciate faster in dumps (or appreciate slower in...
Descriptions are written in the chart.
Breakout imminent.
Bullish pattern into the 200-Week MA support.
ETH is in an overall larger falling wedge that is due to break out around the same time/levels as BTC will re-test the 200 Week MA.
Bitcoin may be repeating history towards the 200 Week MA. Be wary of a bounce at these levels.
We are completing a rising wedge formation on the hourly time frame after breaking out of, and confirming, an inverse head and shoulders pattern. The classical target for the rising wedge is the previous right shoulder . From here we should see a small bounce to re-test exponential resistances before finally landing on the target we've all been waiting for--the...
Bitcoin may be repeating history with a classic sign of trend exhaustion