Following on from our wave analysis for Matic, we post this updated version of where we believe it sits in its cycle.
Recovering from a major breakdown, it has proven to be a strong contender worthy of a place in Purple Crypto's top 10 best cryptos to play with.
It may or may not have room for a final push before a plunge. Keeping our eyes wide open....
Chainlink has broken down a rising wedge. The decreasing volume (on the bottom of the chart) is confirmation of the successful breakdown.
Based on wave analysis, it is possible it may downtrend further.
Shorts are not something I trade personally, so this idea is only for the benefit of my followers who do and for those considering adding to Link's technical...
I never say never but it would completely throw my medium-term projections out the door.
Not that I'll be whinging. :)
My Secret Chart
There's only one person you need to follow when it comes to crypto.
I was recently asked of my opinion on how I could possibly come up with a Papa Bear Projection Chart where the correction period takes over a year long - one that takes us well into next year, and into and over the next Bitcoin halving date of May 2020. I figured it would be easier to simply print a chart for reference.
A picture speaks a thousand words....
I wanted to share this beauty of a chart by the team at Monero.
I love geometry, shapes, waves and everything else in between. I wonder where it will head to next...A, B or C? ;)
At Purple Crypto Premium, we have had a ripper of a month in September of precision trades with on-point signals.
Total trades: 3
Profiting trades: 3
Losing trades: Nil
"Actions speak louder than words"
This couldn't be truer at this time of uncertainty. My secret BTC long-term projection chart (which I had quietly snuck into some of my bitcoin analyses) has proven itself without me needing to speak.
Did I say 7750?
LINK/USDT had been looking surprisingly well recently even after the breaking down of an important support line - the .618 fibb, breaking back up through the resistance of the fibb line and into positive territory.
However, it has yet to successfully turn the resistance into support. And while it initially made a positive break up through the pennant it had...
I hate to boast, but you would too if you were this good. I hate to say it but Bitcoin is somewhat predictable.
How I wish I wasn't in slumberland while it played out its beautiful melody. I would have loved to savour every moment of its graceful descent.
If you are not already following me, then you would have missed out on my on-point analysis of...
I was asked by a fan to post more educational ideas to enrich his learning experience. This one is for him - my in-depth analysis of why bitcoin is heading down using two of my favourite technical analysis tools - Fibbonacci and Elliott waves.
Before we begin, to clarify Elliott wave terminology:
- ' Grand Super Cycle ' degree is usually found in monthly time...
After some deliberation and careful consideration, I believe MATIC/USDT has begun corrective wave formation (and why wouldn't it? It loves following big brother BTC).
I have marked out the impulse Elliott waves it has completed and I foresee it needing to get to an oversold status (stoch RSI decline) before starting the next wave.
Good Saturday Tradies.
Buckle up and gear up for the next possible crash. All signs are pointing south.
A DIFFERENT PERSPECTIVE...
It has completed 3 super waves - meaning we are in the corrective phase of the super waves. I am of the believe that the recent uptrend was part of the corrective wave.
- MAs are all moving downwards (per my previous...
There's so many people focused on BTC it's getting a bit boring.
As promised to Purple Crypto members, here is my analysis for BCHABC/USDT (or Bitcoin Cash). It is showing positive signs of an uptrend on multiple charts. On this 12H chart:
- rising Stoch RSI
- rising TRIX
- rising MacD
- some selling activity and
- a steep rise in the stoch RSI...
Unlike some users on Trading View, I do not make every analysis public and for the benefit of my members, I only ever enter a trade where I am 100% confident it will generate guaranteed profits. I just don't see the point of posting every chart that may "possibly" uptrend. I am only focused on profit-generating cryptos!
MATIC/USDT's trend line projection analysis...
I would like to share with you a comprehensive analysis of where we are at with bitcoin. An explanation of why there is so much confusion, why nothing seems positive and where we could possibly be headed. This is something I have shared with Purple Crypto Premium members.
I have here for you 4 charts drilling down from 1D to the 4H chart. It is clear we are in a...
The long awaited move by ALGO has begun, breaking the long resistance in stoch RSI on the 6 and 12 hour charts. It's made the biggest move since Aug 14 and all other signs are positive too.
I believe it has completed its first small wave with it currently in a small downtrend. I am expecting it to rise to the peak RSI on the 6 hr chart in the short term.
I wanted to shoot this out before I retire to bed this evening.
MATIC/USDT is showing bullish signs on the 4 hour chart. It has just crossed the 90 EMA. From history, it has sky rocketed every single time it has done this since May this year.
Based on the previous cross over on 6 August, it has the potential to rise to the 5.786 fibb mark (or...
Good morning Asia! I hope you have a deserved rest over the weekend and are bright and alert for a fresh new week.
While I await a positive sign/change from ALGO/USDT, I would like to share with you my crypto of the day - LINK/USDT.
It is showing signs of the start of a new uptrend. Retracing from the low of the previous uptrend in April this year (where the...
Good morning to everybody in Asia and good evening to the rest of the world.
My crypto of the day is ALGO/USDT, one that has been downtrending for a very looooooong time. Based on my TA. I believe this is going to change.
Long-term analysis (as long as it can get for ALGO :) ) indicates this is heading in the same direction as BTC did when it first turned up...