On the lower timeframes, Bitcoin has clearly busted through the trendline and is trying to get back into it. Trendlines vary by exchange so this is not exact but things certainly look ominous at the moment. I've charted my expected path and while I'm sure the timing won't be correct I think we will end up at that level. If this trendline fails, don't expect a...
We can expect a bounce at the current level but be prepared for it to get rejected at the 440ish level. I anticipate seeing one long wick touching the 176 area over the next several days.
My trendline may not be exact but it look like ethereum has poked through the trendline that has held it since May of 2017. If true, things don't look good but the 390-410 level should offer support if we see it.
Perhaps my eyes are playing tricks on me but ethereum and the DJIA look awfully similar. Ethereum seems to be about 7-10 days ahead of the Dow. In other words, the Dow may get wrecked next week. I have to wonder if the algorithmic/automated trading programs could be responsible for the similar patterns? Or, is this just normal human psychology shown on a chart?
Ethereum is tapping on the trendline that has held it since May of 2017. The first timed ethereum touched this trendline was at the price of $26.00! My trendline may not be precise so just keep an eye on the general level.
We have lots things going on right now that indicate we could stay in this range for a long time to come. In terms of support, we are sitting on a major support at 7800 and it seems to be holding well for the time being. The lower range of this support is the 7600 level which has been strong in the past. Below that we have the support located at our recent...
Bitcoin should see a small relief rally within the next hour. This a scalp trade as I am still bearish on the longer term outlook.
Sorry for the messy chart. I think Bitcoin has peaked for the time being and needs to test the new support it made on the way up. If we do drop this low we could resume the downtrend so beware.
Beware the trap. We could go higher but I think we will see bitcoin drop lower in the next couple of days.
This has been a perfectly executed trap! we saw the $550 level in early February followed by an inverse head and shoulder pattern that bounced us back to $1000. The next wave down took us to the $450 level and we are again looking at what appears to be yet another perfect inverse head and shoulders pattern. The majority of technical analysis out there is saying...
The bots are going to tear ethereum up. Every once in awhile the bots give us a clear trade signal. Here we see a candle that shoots down to $435.00. The shortest time frame I can post is the 15 minute chart. However, this candle was confined to a 11 minute shot through the support we established after our last fall. When I see one of these candles I know...
The trading bots/algorithms shot one of their infamous candles down through the recent support. It's hard to tell when we will drop. Lots of times we go up for awhile before the bots take us back down but at other times the bots bring us down right away. The only certainty is that we will see ethereum head back down and when it does it won't be getting a bounce.
Looks like a really clear opportunity for a good short entry to me.
Ethereum has broken one trendline and appears to be headed to the next one down which also aligns with a support. I would be surprised if Ethereum did not test this area.
Not much to say here. ETC broke it the trendline. Next stop will be around 10.00.
Decent profits if you play this bounce but I would exit any long trades at this level and open new shorts.
The chart is cluttered but hopefully makes sense. As you can see we have a solid support at the 7,200 area coupled with the "parabolic" trend line that has been in place since July of 2017. I would imagine that, for the short term, the two of these will hold. If we drop below that level I think it is safe to say that the bubble is popping. In other words, if...
Ethereum classic is taking a bruising. As you can see, it broke below its major support and is heading for a major long term trendline. If we see it fall below the $15.30 level it is safe to say it will go MUCH lower. The next logical stop would be in the $6.00 range but I think the ultimate destination would be below $1.00.