Hi friends! I just want to give a quick technical argument for why I believe Bitcoin will most likely rally to the top of the downtrend channel, somewhere in the low 4000s. As you can see, each time during the life of this downtrend channel that Bitcoin has consistently traded above the 50 EMA (in orange,) price has rallied to the top of the downtrend channel (in...
Litecoin is absolutely crushing upside resistance right now. As you can see, it has broken out above the uptrend channel (in blue,) and it has even poked it's head above the 200 EMA (in purple.) The last time LTC was above the 200 EMA was in the middle of May 2018. So, it has been nine months since we were last above this resistance. This is VERY important to pay...
Hi friends! Welcome to this update analysis on the S&P 500, via the E-Mini Futures contract. Looking at the chart, you can see that the S&P is running into lateral overhead resistance (red zone) where several pivot highs were formed. Additionally, price is getting close to what could act as the top of a downtrend channel (in blue.) When compared to the price...
Hi friends! Welcome to this update analysis on Ethereum! Let's get right to it! Looking at the daily chart, you can see that ETH is rallying higher, just as anticipated in the last analysis. In yesterday's analysis, I showed how price had just broken out above the downtrend channel. Since then, price has already rallied from 132.64 to 149.47, for a gain of nearly...
And and just as I projected, litecoin has rallied almost exactly into the 200 EMA (in purple.) Price traded as high as 48.72, before pulling back below the 47.22 support/resistance level (in red.) Ideally, price would have held that level as support. However, given the high buy-side volume, and the momentum and strength expansions, we could see price continue to...
Hi friends! Welcome to this update analysis on Bitcoin! Let's get right to it! Looking at the daily chart, you can see that BTC has printed an explosive move above the 50 EMA (in orange,) just as it did in the bottoming fractal of 2015! If you recall from my recent BTC analyses, I have been comparing a fractal repetition in the current price action, to the...
Hi friends! Welcome to this update analysis on Ethereum! Let's get right to it! If you recall from the last ETH analysis, we were discussing how ETH was gearing up for an attempted breakout to the upside of its downtrend channel. Here on the daily chart, we can see that ETH has broken out as anticipated. The volume on this breakout isn't very high, but the MACD...
Hi friends! Welcome to this quick update analysis on Bitcoin! There isn't much to add since the last update, except for the fact that BTC has made another run at the 50 EMA (in orange,) but has not been able to stay above it. On the chart, you can see that today's candle shows the wick piercing above the 50 EMA, but price has since retreated and is currently in...
Hi friends! Welcome to this update analysis on Litecoin! Let's get right to it! Looking at the daily LTC chart, we can see that the silver to Bitcoin's gold is looking HELLA bullish. After that powerful breakout above the downtrend channel, on MEGA HUGE volume, we can see that price is basically printing a textbook bull flag above what was resistance, at about...
Hi friends! Welcome to this update analysis on Bitcoin! Today, we will be assessing the progression of the similarities of Bitcoin's current price action, compared to the bottoming formation that was produced in the bear market of 2015. So, without further ado, let's get right to it! Looking at the daily BTC chart, we can see that Bitcoin is having a difficult...
Hi friends! Welcome to this update analysis on the S&P 500, via the E-Mini futures contract. Let's get right to it! Looking at the weekly S&P chart, we can see that price has remained above the neckline of the head and shoulders pattern (in red.) Price has been on a multi week uptrend, since it broke down from the head and shoulders, but the buy-side volume has...
Hi friends! Welcome to this update analysis on Ripple! Looking at the daily XRP chart, you can see that Ripple has been forming an enormous triangle (in blue) for the past six months. Inside of the triangle, we can see that the price action is in the form of a head and shoulders. So, a head and shoulders pattern should produce a breakdown, but so should the...
Hi friends! Welcome to this update analysis on Ethereum! Let's get right to it! Looking at the daily ETH chart, we can see that Ether remains in a downtrend channel (in blue.) However, price is currently holding above the 50 EMA (in orange,) and testing the top of the downtrend channel. So, price is currently being pinched between those two key levels. Therefore,...
Hi friends! Welcome to this update analysis on Litecoin! Today, we're going to be assessing an important lesson in technical analysis - one that I like to call "pattern repetitions." So, without further ado, let's get to it! Looking at the daily LTC chart, we can see that litecoin had a powerful upseide breakout of the downtrend channel, and has since run into...
Hi friends! Welcome to this update analysis on Bitcoin! Before we get to it, I just want everyone to know that I'm traveling right now, in a place that has horrible internet. I'm posting from my phone right now, but my posts for the next few weeks may be infrequent. Regardless, I will do my best to support all of you - the community that I love so much! Now,...
The likelihood that the market has bottomed just increased greatly. We can see that Bitcoin has rallied sharply, before it even came into direct contact with the weekly 200 MA (in pink.) Looking at the current chart on the left, we can see that BTC has rallied back into the triangle formation that it broke down from. That is very bullish, assuming that BTC can...
Looking at the Litecoin fractal, you can see that it is playing out nicely! Price rallied to the top of the downtrend channel as expected. Although, price did not make contact with the top of the downtrend channel, it did get very close. Now, we can see that price appears to be breaking to the downside, just as I had anticipated in the previous analyses. However,...
Hi friends! Welcome to this update analysis on Bitcoin! Let's get right to it. If you recall from my recent analyses, we have been following a fractal pattern that I recognized between today's market, and the pattern that was created when the last bear market bottomed. The chart on the left is today's BTC chart, while the chart on the right is where the last bear...