Welcome friends, to this update analysis on Litecoin! Let's get right to it! Looking at the four hour chart, you can see that (much like BTC) LTC is creating a bear flag, inside of a larger bear flag. This price action is essentially increasing the likelihood of a downside break of the larger bear flag. On the top of the small flag, you can see that the 20 EMA (in...
Hi friends! Welcome to this update analysis on Ethereum! Before you, I have the daily ETH chart. I've switched to the daily, so that we can zoom out, and take a broader look at ETH, to determine the likely outcome, of the longer term picture. And I have to say, the technical prognosis is grim. First off, we have a massive head and shoulders pattern forming on the...
Hi friends! Welcome to this update analysis on Ripple! let's get right to it. Looking at the four hour chart, you can see that XRP has formed a large bear flag, right on top of the ascending trendline support. The 20 EMA (in blue) continues to act as overhead resistance, and the rising black trendline has already been violated on multiple occasions. The repeated...
Hi friends! Welcome to this update analysis on Litecoin! Let's get right to it! Looking at the four hour chart, you can see that LTC has morphed into what appears to be a large bear flag. However, the price action inside of the flag itself, has formed an inverse head and shoulders pattern. So, there is a conflict of formations here. Additionally, we can see that...
Hi friends! Welcome to this update analysis on Cardano! Let's get it! Looking at the four hour chart, you can see that ADA/BTC has surpassed the original head and shoulders target that I gave, back on 2/15. Now, Cardano is continuing to head lower, in the direction of my second head and shoulders target. The second target, at about 1683, represents a retracement...
Hi friends! Welcome to this update analysis on Ripple! Let's get right to it! Looking at the four hour chart, you can see that XRP is really testing the rising black trendline support at the moment. We pierced it on 3/9, and now we're violating it again. On the MACD, you can see that a bearish crossover is occurring as I write this, so the momentum appears to be...
Hi friends! Welcome to this update analysis on LITECOIN! Let's get right to it. Looking at the four hour chart, you can see that LTC fell from the bear flag that I published on my last analysis, but the downside target of 137.50 has not yet been reached. With two formations (the triangle and the bear flag) yielding full potential retracements down to the same...
Hi friends! Welcome to this update analysis on Bitcoin! Let's get it! Looking at the four hour chart, you can see that BTC remains inside of a bear flag consolidation. It has surpassed the pink trendline, but it's done so in the form of a bear flag. You can see that the flag is getting to be a bit extended, so we can use the 20 EMA (in blue) as an indicator of...
Hi friends! Welcome to this update analysis on Ethereum! Let's get right to it. Looking at the four hour chart, you can see that ETH broke down from the bear flag formation that it made after falling from the head and shoulders pattern. Interestingly, we can see that the bear flag breakdown caught huge support off of the 642.92 trendline that I put out in the last...
"Magic sucks at TA! Can't he see that it's an 87 wave 123, ABCDEFG correction, with a nick-nack patty wack?" LOL Wait a minute, wait a minute. I have another one. How about "Yeah Magic doesn't know what he's talking about. I'm going looooong, it's going to moon from here for sure." How about this one "What are you talking about Magic, that high sell volume is a...
Welcome friends, to this one-of-a-kind, masterful analysis, brought to you by the magician of the charts! I've got to get this out quick, because the breakdown is starting to happen. You can see that LTC is in a bear flag, after falling out of a triangle formation. The height of the triangle suggest a full potential correction down to the 137.50 area. The height...
Hi friends! Welcome to this update analysis on Ethereum! Let's get it! looking at the four hour chart, you can see that the head and shoulders formation that I gave you on the last analysis, has produced a breakdown as expected. The breakdown was sharp, and driven by high volume selling that was nearly five times the average volume. After breaking down, ETH has...
Hi friends! Welcome to this tainted, dorksided analysis, on Bitcoin! It's dorksided. Let's get it! Looking at the four hour BTC chart, you can see that we fell below the rising green trendline, and we actually pierced the top of the pink downtrend channel. This price action is obviously violating those levels, and weakening them as support. Furthermore, you can...
I don't normally cover a single coin more than once in a day, but when I do, you know it's probably F'ed. There are some very important things to point out with Bitcoin. First of all, you can see that it has now surpassed our most critical support levels, including the rising green trendline, and even the top of the downtrend channel (in pink) The top of the...
Hi friends! Welcome to this quick update analysis on Litecoin! Let's get right to it. Looking at the four hour chart, you can see that LTC has pierced the support created off of 2/23's low. This is very negative price action, that could lead to a more significant decline. You can see that LTC appears to be in freefall at the moment, as it races toward a support...
Hi friends! Welcoome to this update analysis on Ripple! Let's get right to it. Looking at the four hour chart, you can see that XRP has contined to fall, surpassing the 50 EMA, and now it's breaking below the 78.6% retrace, which was critical support. Major support now rests down at the 0.67 level, and then the retest level of the 0.56 low on 2/6. More on this as...
Hi everyone! Welcome to this update analysis on the big boss of crypto, BITCOIN! Let's get right to it! Looking at the four hour chart, you can see that BTC continues to move to the downside, as it tests the 200 EMA (in purple.) If you'll notice, there is a bit of hesitation on the 200 EMA. BTC has actually been testing it for about ten hours now. The 200 EMA has...
Hi friends! Welcome to this update analysis on Ethereum! Let's jump right in, because I need to get this out. Looking at the four hour chart, you can see that ETH appears to be forming a head and shoulders pattern, inside of the downtrend channel. You can see that sell-side volume is starting to pick up on the chart, and the MACD has crossed over bearish, as it...