I'm very unsure here, however we have had a $300 bounce and you cannot ignore that. So two charts, one daily and one 4H: Daily - I drew this last night on Twitter, there is a case to be made here for a second trend line. We have the main trend line which I have drawn in black which is the stronger one, it hits 3 points. Therefore there is a degree of confluence...
So this is an interesting one. Rather than a clear series of ups and downs which we see in most charts like ETH and BTC. LTC on the other hand had this brief but sustained parabolic move upward into a new channel. The blue box area is it's current channel pretty much since December. Where it's mostly stayed around. Out of all the big coins LTC has moved the...
MACD cross, RSI topped out both on daily. This needs to cool off. Good support at 76k or 65k sats.
I don't think it's a reasonable expectation at this point to expect a bounce here. I'd expect us to go down further and bounce from either (or both) of these two points: First target 7880 Second target 7000
I've just reworked this a little bit - 1) Changed the colour of the target areas from yellow to blue for clarity. 2) Also the original bottom line I had drawn in black, I've changed to grey and added a further line which I think better represents where we'll end up. So what happened since last update? We couldn't hold in the top support, so we broke down and...
XRP has been bleeding out for weeks, however it looks like it's found a bottom. MACD cross on the 12H, not quite daily yet. RSI looks cooled off. Strong support in this area, and confirmed reversal. Starting a long here.~ Included the asset class itself underneath as reference.
Today has thrown an interesting spanner in the works. Here are two scenarios: Bearish - MACD and RSI suggest downward momentum. You could also make the argument that this final upward momentum is what Wyckoff refers to as Upward Thrust After Distribution (i've been reading!). Up until today I have been bearish. However this bounce forces us to at least consider...
This looks good for all the right reasons. Good strong support. MACD cross. RSI looks primed. Plus it has a certain 'reputation' which tends to appeal (don't @ me).
KMD finding strong support her in this range. It's moving to the top of support, and we've got a MACD cross with favourable RSI. This looks primed for a move up. With BTC the way it is right now, i'll be using a tight SL.
Quite interesting this one. Bottomed out a week ago, and we saw 10x on the volume over the last 4 days. MACD and RSI look good. Selling volume has decreased today noticeably. A safe entry might be a little lower at 1110 but with the really strong volume and MACD cross I'll enter here with a tight SL.
We fell through the cloud a couple days ago. Since then we have broken local support (dark green). Support levels: Historical support is at roughly 7850 (bottom of light green). When that fails it'll be straight down to 7080 to 6650. Direction - RSI - Still roughly 40, this desperately needs to cool off before we move back up. MACD - This only...
1) We bounced off the bottom of the Ichimoko Cloud on the daily. This coincided with a larger S/R level I drew. 2) Stoch RSI suggests an upturn, from oversold conditions. 3) MACD still has not reset on the daily. The closest is the 6H where it has bottomed and upturned. 4) RSI isn't telling me much. 5) Volume looks strong, particularly the last 4-6 hours. We...
Going long from here. Stoch RSI bottomed out, and started reversal Bounced off the bottom of the inside cloud, and started reversal BB bands bottomed out and bounced, (not on chart) MACD hasn't indicated change on the daily, I'll be keeping an eye on that to confirm the larger trend reversal. If MACD crosses positive, this is a good long. If not it'll just be a...
These are just musings, feel free to offer your opinion on what you see here also: Just using standard indicators and keeping it clean. On the daily. I'm as not confident in the uptrend as I would have been a week ago. Moving sideways with decreasing volume has caused the MACD and signal lines to cross. We do still appear to be making higher lows but we need...
As a continuation of yesterdays chart. I don't think it can be argued that BTC is bullish anymore. FA events soon may change that, as traditionally Consensus has however strictly from a TA POV, I don't see it. Going to put in a short here.
Are we at the start of something much bigger?
This was a very confusing trade. I was sure the HnS would work, if not the general bearish sentiment on indicators looked good for a larger drop down. We did drop down, and retraced pretty much a large part of that move up from the mid7s. However we held support at the bottom of that weekly S/R level at roughly. Where we go from here? In the short term I can see...
Just as an update to this. We ended up completing the HnS, I didn't get all the gains as I exited a little early. However the TA worked out. We've retraced pretty much the entire move up and bounced off that large weekly support at roughly 3460. Where we go from here is tough to say. We have held very well and there's heavy support here and I wouldn't be...