JKELVIN

JKELVIN

Hi traders its JK here again, and today we will be looking at ETHUSD. Pending the undecided move in the market price lately, majority of the crypto price are relatively showing a sign of retesting the previous low(support level) Clearly shown above is a classical chart pattern called the THE DESCENDING TRIANGLE CHART PATTERN. What is the real fact behind this...

JKELVIN

Maintaining its levels of supports and resistance, the price chart of BTCUSD has continued to hold to its levels for 17days. On the daily time frame, the price chart is clearly showing a HEAD and SHOULDERS PATTERN. The left shoulder has formed, still waiting patiently for the head which has a target of $9510. Which is the horizontal resistance marked as the...

17:03

JKELVIN

More consolidation happening at the resistance, forming the bullish gartley and the bullish pennant flag pattern. More concern is focused on the bearish divergence which i talked about. We still need to keep an eye on the near support level at $5800 down to $5676. On the daily time frame, the ichimoku cloud metric(default settings) is calling for a pull back to...

14:52

JKELVIN

Support turning to resistance. C-clamp/Tk disequilibrium and Kijun bounce. The first major resistance of the year with a big bearish divergence hitting, if the resistance holds possible drop to the down side targets $5600 and a bit below it. A likely formation of bearish pennant flag pattern will probably for with this level as well. Risk Disclaimer: TECHNICAL...