Sparkster

Sparkster Updated 

The orange horizontal is a major level for price to flip from a 2-year bear trend into a new bull cycle. Which means... it needs to be tested. The recent euphoric price breakout is a sign of things to come, but markets get nervous, traders take profits, and whales like to manipulate weak hands. The longer-term chart structure looks strong for continuations...

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ETHBTC had strong performance yesterday with ETH rising 6.8% higher than BTC. The Weekly Chart now shows an interesting setup with ETH having broken out of a trading channel and also now testing a long-term resistance level. This may in fact suggest profit taking from Whales on ETHUSD and a possible rotation back into BTC, allowing the pent up pressure on BTC...

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It's been a while since TeamSparkster reviewed ADAUSD. The past 2 months shows a breakout of significant horizontal resistance with current prices now testing that level for support. We need to see the MACD turn positive along with price action rising from that level before being bullish. Note: SparksterSignals (including our technical analysis and our...

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Ziliqa is a big project for Enterprise-grade smart contract solutions. They are gaining traction in the market step by step but what about the technical outlook for the price chart? ZILUSD is currently stuck in a fairly wide trading range, with 25% upside to resistance and 25% downside to support from current price. Until we see a breakout by entering the...

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A little bit playful today with a dragon drawn over the current long-term price structure of the total market cap chart. A technical concern is that short-term it appears we have an ascending wedge which can indicate weakness. The all time high is 100% gain away. We remain 'optimistically cautious' on hitting that level this year. Could there be another...

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The monthly candle close for Ethereum was way above the significant horizontal level. Worse case scenario is that prices dip back down to the $390 level monetarily to confirm support along that horizontal, before price continuation strongly upwards. Traders will avoid getting shaken out of positions if ETHUSD attempts that final shakeout. It appears momentum...

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The 5-day chart shows well how bitcoin dominance rose slightly to test resistance in the past couple of weeks and is now capitulating under the pressure of the emerging altcoin bull run. As forecast in our chart last week. Visit the chart and click the play button... Note: SparksterSignals (including our technical analysis and our algorithmic backtested...

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Circled in purple shows a Tinken Kijun cross-over (the moving averages on the Ichimoku Cloud indicator) using 'crypto settings' (20, 60, 120, 30). Price is also testing the bottom of the cloud and has done for the past 5 weeks at near the same price level. A bitter joke in the xrp community is that xrp is now a stablecoin pegged at 30 cents. The current...

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The 5-day candle shown from 25th May has a long upper wick showing exhaustion of bullish sentiment, which preceded an 8% drop until now. Today we can see the same type of long upper wick forming on the current 5-day candle, which happens to be directly below the 5-day Ichimoku Cloud (a bearish situation). Despite current market volatility and a consolidation...

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After the astonishing gains we charted for LINKUSD at the $4 breakout level, many are wondering if chainlink is top heavy, ready for a major correction... Longer time-frames do show a risk, although the current market structure indicates a consolidation range and the 6-hour chart including Ichimoku Indicator (with crypto settings) suggests strength for a rally...

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XTZUSD hit both our 15% and 25% target... even bumping into our moon rocket icon, as per our previous Tezos analysis: Then Tezos got dragged back down with the rest of the market and now looks to be recovering upwards momentum as shown here on the 6-hour chart with moving averages now crossing over. With an 8% target back up to previous resistance, Tezos...

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Our projected 3% drop happened as precisely as any trader can hope for. While most beginner traders look at trendlines and support levels, advanced traders account for higher time-frame momentum and market structures. This lets us make more accurate projections more of the time. Traders can use our algo-assisted strategies to help stay in tune with the...

Sparkster Updated 

It can be interesting to look for market structure on lower time-frames during times of uncertainty. Zooming in to a 1-hour chart we see a small consolidation range forming, including the hammer reversal candle with a long wick which has formed a support level. If price breaches the lower horizontal support line, the 3% downwards target becomes a lot more...

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If you've tracked our updates the past couple days you can see a glimpse of how quickly and easily market sentiment can change based on manual technical analysis. Earlier today we said "Bitcoin Beyond Hope? 3% Drop At Hand". Here's the chart: As of right now, price sentiment has reversed and we're back above resistance. What a big consumption of time....

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As we now see, following yesterdays 4-hour analysis... ...the long wick candle and subsequent rally failed to get cleanly above the resistance level, with price action now re-resting that same level. Stochastic RSI shows oversold, MACD is pushing up. It could certainly go either way, but we currently favour a small bias to the downside, watching for that...

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Purple circle shows a long wick on a hammer reversal candle which managed to close back above support. That may be enough to make bulls push price up today to the next level. If however the current support breaks down again by tonight, we may be in for a further drop tomorrow targeting 3% which may tumble into a general market meltdown over the coming week. We are...

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Let's face it... we've seen worse. We've seen Bitcoin price drop 30%, 40%, and 50% at times. Right now price is testing the local high from July, a very significant resistance level. At this point your guess is as good as ours. We're not here with crystal balls. We're here to manage risk and be right more often than wrong. Now may be a good time to tighten...

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It's been a month since our analysis showed a 30% target for Vechain. It finally appears the daily chart setup is ready to make it happen. Price is finding support at the recent high which saw a significant sell off of 30%, but longer-term momentum for VETUSD is strong and having now recovered we expect bots and traders to be taking long positions towards our...