THE FAANG PRINTS A PERFECT EVENING STAR
Price gapped on open, solid green body.
Little body, little wicks
Solid red body
Given that that previous peak was a bearish RSI divergence, it's reasonable to think that this is the final rally before a downturn. Something that an evening start doji would point towards. Additionally, we can see that the regression...
Gold has been in a sustained uptrend since September 2018.
After a bullish break of $2000, a lot of the speculative hype has cooled off on Gold. The price has fallen back below the 2xxx now, however has relatively stabilized in the mid 19xx range. Given that price is in the top half of the channel, it is not advisable to enter new positions here, however...
BTC HEAD AND SHOULDERS RETRACE COMPLETE + BULLISH BREAKOUT
Price has broken above the trend of Head > Right shoulder peak. This suggests the cycle is complete and a new bull impulse could be coming
Volume remains low though, so look for other confluences
The extension of the neckline is likely the hangup here, given that above $11k should be a relatively...
ETH STILL HOLDING STRONG INSIDE RISING CHANNEL W/ 94% CORRELATION
$300 should be a major support line
Short term RSI not showing any divergence, but macro RSI showing hidden bullish divergence
Volume since pull back is down. Suggests consolidation
Money is with the bulls.
ALTHOUGH BTC HAS SEEN SOME PULLBACK, IT IS STILL FIRMLY INSIDE THE RISING CHANNEL
The price is still hugging below the falling resistance (white line), but every time it gets close to the lower bound is gets bought up quickly.
BTC CHANNEL CORRELATION DROPS BELOW 90%
When an assets price spends so much time above its average, it can be really concerning when price drops below the average. BUT . Every trend needs a period of time where the price is below it - that's have averages work. It's much better to consider zones or ranges of acceptability rather than a fixed point in time. The...
ETH HOLDS INSIDE CHANNEL, AFTER BEARISH DIVERGENCE PRICE ACTION
ETHUSD is showing signs of recovery, as the price balances on the lower bound (-2 deviations) of the rising channel. Let's see if it indeed does hold...
SPX HOLDS THE RISING CHANNEL, BUT VOLATILITY INCREASING
The pullback came down and tested the extreme lower bound (-3 deviations). The last time this was tested was middle of May; but we also see history of the extreme upper (+3) also acting as a resistance point. As such, the trend seems valid enough here.
The yellow dotted lines represent the +/- 1.5 and we...
BREAKOUT AND RETEST ON TESLA
After a massive rally through the stock split process, we saw an equally significant pull back. Volume hasn't completely returned yet, so keep watch and lookout for a confirmed break of the lower trend line.
HORIZONTAL SUPPORT AND RISING TREND GIVES ETHUSD A BULLISH BIAS.
Price is tucked at the bottom of the rising trend channel here, and we have had a series of small candles in this zone. There is also a historical historical support here, which is a nice confluence factor.
Volume is settling down now, and the bearish divergence has probably played out now -...
For the majority of people in this trade, there should be enough headroom here to ride out any shakeouts.
To be clear, this trend is too steep for any serious midterm performance measure ( currently +35% month-on-month ), however it is worth letting run at least until the bottom of the channel falls out. Options are too horrifically priced at the moment, so puts...
ETH SITTING ON A DAILY BEARISH DIVERGENCE
Price rejected hard ( likely on news of a police raid on a South Korean exchange ), however the technical data was already suggesting we should be seeing some form of cooling off on ETH. The price was reaching the top of the channel, and the RSI was flashing a lower high point - indicating weaker strength in the recent...
While not as exciting as other projects - Bitcoin Diamond has been treating this channel very nicely. With the recent pullback, and RSI remains above it's normal recovery point, it is reasonable to expect a continuation of this overall movement.
Not in a million years will you ever be able to justify to me why a token split should result in a 2x price jump.
DOT is, essentially, competing with ETH2.0 for ability to scale the network. If ETH2.0 fails, GAS prices make DOT expensive to maintain. If ETH2.0 succeeds, then what good is DOT? A very cool project, and one day could have benefit to protocol...
DID YOU KNOW THAT THE US ECONOMY SAW THE LARGEST DROP IN RECORDED GDP AND CONSUMER SPENDING IN THE LAST QUARTER?
The questions over how the market will handle a test of the previous All Time High are well and truly over, so in this macro look at the S&P500 we will instead look at this movement comparatively to the history of the trend.
Like it or not, the...
Is the writing on the wall for BTC?
Personally, I am a stickler for rules. So I don't like the volume profile. In a head & shoulders reversal, we should be seeing a drop off in volume as we progress through the pattern; but that isn't really happening here. That being said, this pattern does give a downward target that is nicely at the bottom of the channel -...
QTUMUSD has retraced back to the lower bound of it's rising channel. We saw a parabolic move that broke the top side of the channel; so it's possible we may get a whipsaw reaction that pushed below the channel - however ideally, cooler heads prevail, and this movement can continue.
RSI has dropped below 40; which has historically seen a relief rally off the base...