UPDATE ON THE SYMMETRICAL TRIANGULAR CHART PATTERN. We promised to update the chart of EOSUSD as the breakout occurs moving higher to break previous resistance. In the previous price analysis on EOSUSD ( ) we made it clear that all traders should stay out and wait for proper confirmation of before trading a position. On the previous chart we identified the...
NOW A TEST OF PREVIOUS LOW. THE RISING WEDGE CHART PATTERN AND BEARISH DIVERGENCE. The wedge formation looks much like the symmetrical triangle. What makes it different is its slant. The wedge formation has a noticeable slant against the prevailing trend. Therefore, a rising wedge is considered bearish. The wedge breakout occurs most often in the third part of...
THE SYMMETRICAL TRIANGLE CHART PATTERN. Symmetrical triangles, sometimes called coils, are a popular chart pattern because they appear often and perform reasonably well in a bull market. Price trend can be any direction leading to the chart pattern. Shape looks more triangular. Prices move between two converging trendlines. Two trendlines bound prices; the...
After the price chart we analysed on the 25th of March 2019( ), the 1st target hit toward the upside. On the 30mins time frame, the breakout is here. THE PENNANT FLAG PATTERN. We have talked about this chart pattern in a lot of previous chart. The breakout is in play already, the targets on the previous analysis are still valid and also to take a position with...
PULL BACK TO TEST PREVIOUS LOW. On the one hour time frame, the price of BTCUSD has gradually maintained it's touches on the trendline forming a chart pattern called THE ASCENDING BROADENING WEDGE. The ascending broadening wedge is a chart pattern that tends to disappear in a bear market. Most often, it is found in a bull market with a downward breakout. Price...
THE WAKE OF NEW PRICE Prices are moving higher and higher breaking some major resistance as BTC is making moving higher and pull all other coins in USD high. The long awaited breakout of the HUGE ascending triangle chart pattern is here. In an ascending triangle, the resistance line runs parallel while the support line is rising. To avoid false breakouts, we...
EXPECTED PRICE BREAKOUT WAS SUCCESSFUL Analysis posted on the 17th of March 2019,( we analysed the INVERTED HEAD AND SHOULDERS chart pattern, in which we talked about the possibility of price breaking out or going back down. We made it clear that the major *RESISTANCE* which has been held back in December was a strong one. The basic and most important rule of...
PRICE AT EDGE OF BREAKING OUT OR PULLING BACK. On the daily time frame, the price of BTCUSD is currently showing a a harmonic chart pattern called THE BULLISH GARTLEY CHART PATTERN. The Gartley pattern is complex because it deals with Fibonacci ratios. This measures a move to the down side to complete the last LEG called *THE D LEG*, which is sometimes the point...
Based on our update on BTCUSD, we made it clear that the price of BTCUSD is inside an ascending channel which will likely test the previous resistance at $4100, $4200 or even $4232 while inside the channel. The current look of the move is clear that the above stated prices are the major resistance which has be held strong since December 2018. On the daily time...
UPDATE ON BTCUSD Price is yet to make that move above the $4223(major resistance). We keep you all up to date on the move of BTC price. On the Daily time frame BTC has maintained it move inside the ascending channel chart pattern which is moved to the upside. The price trend leading to the channel can be from any direction. Shape looks more like a pipe tilted...
THE BULLISH FLAG PATTERN Practically testing the 0.5fib retracement level and the body of the candle stick is yet to close below the support level. The flag which is rectangular in shape and yet to breakout with a price move up (pole) indicating the validity of the bull flag pattern. This type of flag pattern is called the tight flag, as the body of the candle...
The transaction per day of XRP gradually increased from a low of 55.2k January 2019 to a high of 875.057k and still holding this level since Feb 2019 and currently at 425.013k. The dominance of XRP has been falling since on the 30th of December 2018 from 12.37 down to its current dominance at 9.17. All these are part of what is affecting the price. TECHNICAL...
THE ASCENDING TRIANGLE CHART PATTERN The ascending triangle is a mediocre performer despite its reputation as a reliable chart pattern. Price trend can be any direction leading to the chart pattern. It is triangular in shape. Prices move between two converging trendlines. Two trendlines bound prices; the top trendline is horizontal and the bottom one slopes...
THE BEARISH FLAG PATTERN. On the 3hours time frame, price has moved up forming a rectangular flag after a major dump. The price move is called the BEARISH FLAG PATTERN. We have always analysed this type of pattern, on the previous analysis on BTCUSD( ) we talked about price moving to test some previous low. Yes that move is still in play. This type of bearish...
We keep you all up to date on what is happening in the market and what to expect. On the 20th of this month( March 2019), we posted the possibility that BTCUSD price will take a hit and move down since it is getting rejected at the $4200 zone. On the last analysis we looked at price chart on the 4hours time frame which we spotted a big rising wedge, yesterday...
THE BULLISH FLAG PATTERN( MAJOR MOVE) The rectangular flag moving down to the right side, holding its support and resistance levels inside the flag signals for breakout to the upside. Not much to talk about on BULLISH FLAG PATTERN as we have talked about it on different price analysis. The only thing different with this chart is the *REJECTION WICKS* which shows...
Just like we mentioned in out previous analysis on BTCUSD. We wanted to confirm the validity of price crossing the neckline before giving everyone a signal to go long. On the 4hours time frame, price has been spotted forming a bearish chart pattern called THE RISING WEDGE CHART PATTERN. Price trend can be any direction leading to the pattern. Shape a narrowing and...
THE BEARISH PENNANT FLAG PATTERN This chart pattern is different from the bullish pennant flag pattern, because its pole runs down before the triangular flag consolidation start. Price trend can be any direction leading to the chart pattern(in the bearish pennant flag pattern, price leading to the pattern is upward). Shape looks like a short symmetrical triangle....