I certainly like this consolidation and chart pattern much more than the company itself but 24/7 trading may help the outlook of what's going on here. Another perceived tailwind may be declining CPI --> more money for retail to spend trading, even though we all know overall USD purchasing power continues to decline regardless of YoY CPI decreases.
Coinbase has had a wild ride following the deleveraging of the entire crypto industry as well as the flight retail investors in 2022. The COIN IPO was essentially the current ATH for the crypto market.
Over the past several months, price has ranged and consolidated in a potential inverted head and shoulders pattern. Hallmarks of the pattern include an extreme...
DXY showing technical weakness coupled with a programmatic supply reduction of Bitcoin issuance may lead to an outsized price reaction for Bitcoin post-halving. Similar DXY moves from 100 to 90 after the previous two halvings provided a tailwind for significant multi-month bullish rallies. DXY is currently forming a high timeframe descending triangle, which holds...
Much like Bitcoin during the 2018/2019 bottom, this Ethereum consolidation has repeatedly formed bullish reversal chart patterns on lower timeframes. Together, these patterns have also drawn a large ascending triangle which has had a series of higher lows and a horizontal resistance zone. Volume during this consolidation has also declined throughout, with the...
- bullish bias on alligator
- closed above previous fractal triggering long entry
- SL = median line or previous bear fractal
long entries will continue to trigger with each successive bull fractal breach
SL levels will continue to move up (trailing stop) with each successive bear fractal
Bullish kumo breakout approaches on the DAILY chart. These signals usually only flip completely bullish or bearish about once a quarter or less historically. What follows is typically a multi-week or multi-month trend, historically.
Long Entry Signals Include:
1. Bullish Kumo Breakout - Price above Cloud
2. Bullish Kumo Twist - Green Cloud
3. Bullish TK Cross -...
Longest period of low volatility for $DOGE since trading began
BBands only ever this tight twice in history
$Doge is typically traded as an oscillator:
- oversold <25sats
- overbought >100 sats
watch for daily/weekly closes at 30-33 sats over the next few weeks for long entry signal
Head and Shoulders - Bearish Reversal Pattern
Take Profit: <$150
Stop Loss: $170
One-month parabola into the daily 200-EMA (or 2400-EMA on the two hour timeframe) comes to an end without significant pullback, thus far. However, a H&S has formed here, which looks better on some exchanges than others, but the pattern structure is clear. The...
inverted Cup and Handle
- structure looks real
- messy but descending volume profile
- RSI = 49, plenty of room for down
- MACD = flipping red soon for the first time since Jan
Target = 7.7k - 6.5k
- support at previous local high and local low likely, 8.8k and 7.7k, respectively
- yearly Pivot = 8k
- large support volume node at 6.5k
If real, will...