The attached chart should let you know ALL you need to know in the near term. We have been discussing this wedge for a bit now. IF it breaks, look for immediate support in between our key Fibs. I have also included another line, the Bull/Bear line. If price action were to drop UNDER that bottom line on a weekly close Bears regain control of the narrative. I DO NOT...
So many who follow me, or any other technician for that matter, who incorporates the use of the RSI/Stochastic into their work will find that there is always a sense of anxiety as the oscillators run hot (Overbought). However, as I detail in this chart, we have actually had similar readings prior to our run up to $65K. While oscillators are incredibly important to...
I have said it before and I will say it again, we are at that point in the chart that will try even the most experienced trader/investor. Either way, a break over the resistance zone would usher in New ATH's. A failure here would need to be limited to NO PA under $40K(50SMA) on a weekly close, lest the Bears come out of hibernation.
Priced in Bitcoin, Litecoin is now approaching the Apex of a MASSIVE FALLING WEDGE. This is a MEGA BULLISH Pattern. While we did have a quick explosion in price earlier, it was a "false breakout". The next one will be the REAL DEAL!!! PS--Litecoin is possibly one of the most hated majors at the moment. As a contrarian, this is about as BIG a contrarian play as...
We are now at a point in the chart that cant be ignored! I have been accumulating silver for years, and we are at a point in the chart where it is being given away. ANYTHING between $20-$24 is them paying you to take it. PLEASE NOTE: I do NOT recommend paper silver (ie SLV), as they are worthless paper claims. Buy physical ONLY, and if you want to trade, trade the...
Important numbers to clear for further upside on $LTC: $177 on a Monthly close is key for continual upside $194 = 200 SMA $240 = THE MOST IMPORTANT level for $LTC to achieve its former high. $414/$424 = Double top area 2017 high and 2021 high. A break over that level and $LTC sees $835 at a minimum First lets take care of the levels in front of us :)
Clearly $XRP has made a massive break ABOVE key down trending resistance, which it has now turned to support. If we are to identify the next resistance level, one has to look no further than the .618 FIb. $1.41 is the Key, break that and it would not shock me to see $XRP explode to $2 in short order.
These levels are for Short term purposes ONLY. It is still my belief that the High time frame $ETH makes a NEW ALL TIME HIGH!
What EVERY BULL wants is for this chart to go LOWER. That said, we have a classic distribution pattern (which was the bottoming of $BTC). The minimum target remains north of $74K. The ONLY hope for the Bears at this point is to send $BTC to sub $42K on a weekly close. For now the Bulls remain in charge!
This chart is destined to go lower. Not only technically, but also from a pure fundamental perspective. There are simply too many $Alts in the market, and while $BTC will always be the Granddaddy, 11,000+ crypto's mathematically have diluted and skewed this metric. I still chart dominance as an indicator for at least having some idea of when $BTC will "run" and...
The attached chart is IMPORTANT to BOTH Bulls & Bears alike. While the Bulls have been flexing their strength off of the $28.8K Low, that I have repeatedly mentioned was THE LOW, the area that $BTC is fast approaching will determine the "Winner" of the Bull and Bear debate. Now some could argue that their could still be a "Double Top" argument, from a technical...
While I know many are glued to the crypto markets and the Equity markets, my focus has been centered on this recent Bullish Impulse move on the $USD. Based on several factors (Including, but not limited to the RSI/Stoch, and some substantial trend line resistance), it is my personal belief are are heading a little higher. If we reject below $95, that will be my...
Friends this is for the Immediate term on $BTC. The bottom line is we need a break over the $46.7/$46.8K area. If we get a daily close OVER that the move next would take us to $51K in short order. A break of the uptrend line and we see a correction that at a minimum takes us back to $42K. I wish I could tell you what happens first, but these are the levels, now we...
Possibly my favorite chart in Crypto on the Monthly time scale. It is reviled by many and it is for that reason that I think a 8-10x from current levels is all but assured. As soon as $BTC makes its fifth wave move, I have high hopes for this coin. It is one of the oldest and on a ton of platforms (ie Paypal etc). What we wait for is the August close. If we have a...
So while I have been anticipating more corrective action, THIS Triangle bears watching as we approaching resistance. The Bulls have a Bottomed out RSI/Stoch working on their side.
THIS IS ONLY FOR TRADERS If we lose this level here, look for $42K as your support. Something tells me Bear claws are being sharpened. Hang in there!!!!
Question: COULD YOU HANDLE THIS?!?!?!?!?!!?! Because it could very well happen.
Attached is our Fib Retrace Levels. Key for now is $46.7K. If we break we move to the $51K in short order. A failure here and we find ourselves back to $42K. We are at that point where it could go either way. LTF oscillators are overbought, but the HTF looks great. Time will tell if this is the weekend we breakout, or if we consolidate a bit more. I will be watching. :O)