We may have extended our run with a false breakout and if anything a maximum run of another 5% is all I see, which would give us a 4th touch on the downward trend (orange)
This should effect the whole markets from Bitcoin, Metals and Stocks!
Be cautious here.
We are not done in my eyes, we just broke down the 2nd support that had been created for these last weeks. They happen in 3s.
As always we looking at the Bollinger Bands and Stochastic RSI for this Bottom finding System.
$9200-$9400 is where it is pointing too which is higher than the last update, which means the BBANDS have moved up.
Lets see where this takes us.
Looks like we have fail again and BTC has run out of steam, Yesterday just the beginning of a much larger drop coming within the next month.
Bitcoin has fail even just to reach the 20WMA and now the stochastic RSI is curling back bearish.
Using the system here, my calculations has bitcoin at $8500-$9500, for this to be invalid we must get over the 20WMA. I have...
Forget the scribble on this chart. I can read it so let me explain.
The Money Flow Indicator has changed into a SCREAMING buy, it has been a buy since early May. The Centric Holders will have their patience rewarded.
The Stochastic RSI been oversold for 7 months. Thats right, either the Token is dead or we will see prices 39x from here which is a measurement...
VRA/BTC pair is a buy.
The MACD and Stoch RSI Align with the Candle above the 20 (2 day) Moving average (while in upward direction).
Point of Concern: The 12 hr and 23hr MACD/Stoch RSI losing momentum however on the 2 day chart it is holding up on the MAs
On the daily the 55MA acting as resistance while on the 19th July a resistance candle completed.
This is Others.D which illistrates Altcoins without Ethereum dominance in the market. This is the weekly candle chart.
Let's start from bottom of the chart.
1. The Stochastic RSI has been out of oversold since the 20th June 2022, it looks like it is curling back down which would gain BTC back some dominance.
2. PCT Rank Top Bottom is light coloured green...
Buying Rules passed
1. Support created
2. MFI oversold
3. Stochastic RSI curling up out of oversold
4. Top/bottom finder finds Bottom prints light green.
look for resistance at 4897 - 5100, if this breaks we go to 5890
The monthly close printed support on the S&R indicator.
It has never been printed before on its recorded history.
The 4 week also printed one and the last time that happened was Dec 2018.
The 2 week printed last week and prior to that was the covid crash 2020.
This may be the bottom. I feel we will go up from here but any drop from that would take something...
I like to use this ready made Support and Resistance Indicator, that shows you when a S and R has been created.
This is a 2 week candle chart so it is very powerful. The Monday that just went past was the 2week close and the structure has shown Support has been found and this has not happened since the March 2020 Covid Crash when BTC bottomed at $4000 and rose...
This is the best buying dollar cost averaging into XRP since 2016.
XRP price is sitting on the grey area which is the FIB bottom. We have been here for quite awhile and this chart has only been able to pick it up with the data we have. Currently following 2015-2017, which it is currently extended now.
To find the top we use the yellow line which indictates...
Been awhile and we still under the 20WMA and things have gotten worse.
Expect a price target of $41k before we capitulate to $18-$22k, which will be the start of a new Bullrun.
Altcoin pairs against BTC still looking good if you can ride the fiat price drop.
Bitcoin, on the 27th March BTC created a higher high and currently on the verge of making a 3rd higher low.
Momentum up to the daily timeframe is on ourside.
Converns: The Gaussian Channel 5 day has turned red could expect 40-50% drop
Price currently back under the 20WMA which tells us $22k-$24k incoming, we must jump back above the 20WMA to avoid this.
Holds 38.2 Fib Pitchfork. 4 months of red. Seriously havent we dropped enough?
if we do drop down, we have $20k, $15k to deal with.
Has Ukraine/Russia helped the situation?
Tradition Markets due for a strong week.
I know I said last month that February will be positive, But things looked to have delayed until March.
XRP passes buy rules on the 2 day candle chart system. This rarely fails.
There really is going to have a huge price increase for $XRP. Breakout confirmed on the 8th Feb.
From here drop is probable over the next 2 days $0.73-$0.85 max.
It is also good to see price over the 200 2day MA and 55EMA.
Previous percentage increases with this system.
Was that it? The drop to $26k now invalid? Lets see.
Things look bullish on my end for at least February. I still like to see a weekly close above the 20 week moving average for 2 straight weeks.
But right now a bottom has formed. The week has closed with a support line created. This is a week after the candle was held by the 3 Multi Fib (pink line). The...