Johnny_wa

Johnny_wa

If Elliot Wave Theory plays out the way it should LINK could have one more leg up. Currently sitting at previous resistance and 0.618 Fib level which is positive BUT we are getting bearish divergence meaning this crazy run could be running out of steam. MacD has also printed a bearish cross with plenty of room to run to the downside. Only time will tell.

Johnny_wa

EOS/USDT has had three legs down with out any kind of rebound. When prices move in either direction very quickly, the same move in the opposite direction is completely reasonable. So far we have not had any correction to the upside. Currently we are sitting at support and bullish divergence is showing on the 4H and 1H chart. I have no way of telling where the...

Johnny_wa

XRP should be on your radar for short term profits. The XRP/USD chart is sitting at support and XRP/BTC is showing bullish divergence on the daily chart. This looks like it could be a turning point in Ripple, though trading against the trend is typically not suggested. Wait for confirmation with whatever system you like to use. From where we sit right now it would...

Johnny_wa

XRP/USD has been hanging around it's $0.28 support level recently which has been bounced off of three times in the last year. We can also see we are trading within a symmetrical triangle where we have taken support off of 4 times in the last year, currently at the $0.30 level.When these support levels have been hit previously we typically bounce 10% then retest...

Johnny_wa

Litecoin and Bitcoin are in a very similar situation, they have wicked to their 0.618 Fib retracement level and are showing bullish divergence on the 1H chart. Bitcoin is still respecting it's upward channel and looks ready to go back up again. A simple strategy to use with divergence is to play the trend line breaks of BOTH the price action trend and the RSI...

Johnny_wa

Yesterday Litecoin broke its upward channel and tested support at 98 (blue line) which was also a 0.618 retracement level. From here the 1H chart is showing bullish divergence. A simple strategy to use with divergence is to play the trend line breaks of BOTH the price action trend and the RSI with confirmation from MACD. My target would be a back test of the...

Johnny_wa

On the ADA/Usd chart we see that it is trading within an intermediate upward channel, but it looks to be trading within a range in the short term between the three black support/resistance lines. The green rays are Fib retracement levels. We are currently at the first Fib retracement level and the bottom of our channel. A break below this should send us somewhere...

Johnny_wa

Here we have ETH/USD trading within an upward channel. Currently we are above the middle support zone of the channel but it looks as though we are going to retest that support around the 295 zone which is a Fib retracement as well. If this does not hold I suspect we will test the bottom of the channel and the next lower Fib retracement at the 255.86 area. If we do...

Johnny_wa Updated 

Litecoin has been a little stagnant lately but is respecting its intermediate upward channel. It looks to be trading within a range in the short term which could continue sideways, breaking the upward channel. If we do start to move upward a retest of the $160 level is certainly possible if we don't get rejected by the $148 level. If we do break $160 and the...

Johnny_wa

Bitcoin on the 1D chart has been trading in an upword channel and has had a break of the symmetrical wedge. It looks to me like we will retest the short term highs soon but it may not be a straight shot. I would not be surprised to see a retest of the 12000 level before attempting to break above, perhaps around the 18th of July. From there I would expect us to hit...