What's up TradingView! As the crypto market is generally overextended right now, a pullback seems imminent. With TRX it seems like the closest wave count indicates we could be entering wave (4) of wave ((3)) soon, given that the SMI and RSI are pulling back from the overbought area in the 4H chart. If this is indeed the top, I am looking for a retracement to the...
Everyone has probably heard about the Crossover of death recently in traders’ analysis of Bitcoin and I wanted to show a multi layered analysis on what is actually at play and how this can affect the market. Looking at the daily chart above we can see the 20- 50- and 200- day EMA which highlights the uncertainty in the market right now. All three are...
Welcome to my OMG trading idea/guide to crushing it!! As with everything else in the crypto space, we have been pulling back from our recent surge. OMG outperformed a lot the other major coins during this surge, rising just over 46% from the bottom!!! Hats off to OMG. If this is the wave 1 then can OMG assure us more gains in the next wave up? Potentially. I...
Welcome to my analysis on LTC!!! As you can see on my chart, we’ve been following this downwards channel since we topped $250. We made a double zig-zag correction which finished at the 78.6% retracement of the previous move and the long term support line. This is a good indication that this correction may be over but we need some more confirmation first. The...
GOOD DAY TO ALL THE TRADERS HERE TODAY! An educational post for you here today with analysis! There is money on the sidelines waiting to get in, including mine! I am planning my entry to the market carefully as the market direction is not clear. We need to focus on making the high probability trades using technical analysis and risk management. That's how we are...
Good day everyone and welcome to the post G20 analysis on Bitcoin! Let’s start by having a mini recap on what happened the past couple of days. On March 18th we continued to decline towards the start of the previous wave (1) in a descending wedge pattern. We hit the bottom of the wedge then BOOM, bulls were back on the scene! FSB brought out a statement saying...
Tension is in the air. Anticipation is through the roof and Bitcoin is free falling! Well it was, before my idea got taken down. Lucky for me, now I can rewrite my idea knowing that we've just broke above the black resistance line! However we shouldn't get too excited just yet. We have the strong dark red dashed resistance line to get through first and then I will...
We are very close to a decision point here with LTC. We have tested the orange resistance line around $193 three times since we found support at $162. From this we have created an ascending triangle pattern which we could either to decide to trade the breakout or build a position from here. As we are currently at the top of the triangle, I am willing to wait for...
After a pull-back in most of the crypto markets, we are now eying up another entry signal for us to capitalise on for a high probability trade. ETC has retraced deep back into the territory of wave (1), around 76% of the total move, which provides us a very attractive area for entry. There is also support at this level from the long term support line. During the...
Looking at BITB, it looks like there have been 5 waves completely since it began trading. After the completion of the 5th wave, it retraced back to near the end of wave 4 which is an indication that my count is correct. From here we have completed the first and, what looks like, the second wave of this new impulse wave. This is in synchronised with most other...
I feel crazy for publishing this post but as a pact to myself that I’m publishing every trade I make to keep a journal, I must go on! Following BTC’s strong rebound on 06/02, we have seen the sentiment cascade over all crypto markets. I have even seen a few coins pump over 100% on Bittrex which tells me this kind of pumping is beginning to return. Looking at AUR...
ETC is finding support along a trendline which has acted and support and resistance since mid 2017. This support conveniently comes at the bottom of wave (2) which also formed at the bottom of wave 4 of lesser degree. This respects Elliott Wave Theory further by being the 0.618 retracement of wave (1). There is a resistance line from the 20/02 high to the 27/02...
It looks like NEO is following Bitcoin’s price action here. The price seems to be finding support along the downtrend channel (dark red dashed line) and it’s also approaching a short term support level from the 06/02 and 25/02 lows. From my wave count, it looks like we could have completed wave ii of wave 3 of larger degree, which usually leads to a large impulse...
So BTC price has just broken the downtrend channel (dark red dashed line) which has proved to be the heaviest resistance area since the crash. This is THE best bullish sign so far since the crash. If we keep above the channel, we could confidently say we have completed wave 2 of the final wave (5) and have entered wave 3. From here, I would like to see the price...
After the mid-December sell off, Bitcoin has been desecrated all over the media and has pushed the price down to levels from last November. Considering where we were this time last year, this is still a great place for us to be and us Crypto Enthusiasts know that Bitcoin is here to stay, and its technology can change the world. For this reason, I think another...
I currently have the largest position in my portfolio in Bitcoin. I have split my total holdings into 2. One part is my trading position and the second is my trending position. As I think Bitcoin could've found the bottom at $9000, this is the base of my trending position. I entered my trading position at around $10500. We are approaching the black resistance...
We have been in a bearish market for a month now and for crypto enthusiasts this is just another healthy correction before the price blasts past 20K and, once again, silencing all the haters. Other people are feeling smug or in despair because they knew Bitcoin would never end well! Looking on Twitter, YouTube and Reddit, the overall market sentiment is...
As everyone probably has, I've been looking closely at BTC the past few days as it has been going down to see how far this thing can go. We have just bounced off a support line which has been tested 4 times now so this seems like a strong support area now. Plus this bottom triangle (circled) has shown again which has been prevalent in past scenarios when BTC has...