This will be a short post because there is a lot of verbiage in the chart. Generally while I definitely see a few bearish signs in Goldmans chart most are relatively bullish. Keep in mind these are weekly candlesticks used to project what may happen in several weeks or potentially months time so don't infer anything about day to day movements from this analysis....
Dear all, this is a year-to-date chart (daily candlesticks) which relies on a simple combination of two factors to predict where we are headed short-term with Bitcoin. Though we are in a downtrend with the 20 day MA below the 50 and the 50 below the 200 I am fairly confident we are headed up short-term. By using a combo of bullish MACD crossovers and TD sequential...
Dear all, this is my first post on Bitcoin but probably won't be the last. This will be a short simple take on the recent past and future of BTC. It has been evident since June 24th that a drop is coming for the coin. This was evident because negative RSI divergence of a bullish, or in this case bearish nature is a clear indicator of the strength of a move up or...
Tron seems to have bottomed short term and the general trend short term is up. We see from Fibonacci levels derived from the latest run up from 4-4 that once the .618 (denoted by the shaded rectangle); which held as a strong support broke, that we descended a lot. Recently though price has broken a few trend lines represented in green and seems to be finding...
Dear all, in my last post on IWM (IWM is looking good: ) I used Elliot Wave analysis to project a target of 171.5 to 173.6. While I am still bullish on IWM it is having trouble breaking 169.3 which equates to the 0.382 resistance in the Fibonacci. Once we break this resistance we are probably headed to new 52 week highs and this is reinforced by recent price...
Dear all, this will be one of my shorter posts. In my last I noted that this market is difficult to read but now I can say with a higher degree of confidence we will be headed down in the near future. From the chart we see that in the past few days as well as roughly a month ago that the 0.786 Fibonacci (derived from the 1/26 - 2/8 crash) has served like a glass...
From the completion of the late January to mid-March A-B-C correction until present IWM seems to be in a classic impulsive 5 wave bullish formation with the fifth and final wave already in progress. If we operate on the standard premise that the fifth wave will most likely be equal to length to the first (displayed by two vertical rectangular shaded boxes) then...
Dear all, thanks for reading this post. Lets get right to it. In my last post (SPY is playing Fibonacci Pinball) I noted that the market was difficult to read and was giving no clear signs as to its direction. This was b/c we had seen multiple higher lows (w/ decreased volume on each higher low which was a bullish sign) and higher highs in the ascending channel we...
Disclaimer(s): The green (0) viewable in the bottom left of the chart would have been in 2005 but because of the scope of this graph it coincides with 2010 By the same token the green (3) should be several years forward but coincides with 2019, again b/c of the scope of the graph ...
Dear all, as you can see from the yellow lines SPY is in an ascending wedge (I cut through some candlesticks b/c RSI was extremely high on those days) that is part of an upward channel the index has been in since the low in early May. Since that low we've made 3 higher highs and 3 higher lows, bullish right? Maybe not. You see on Mar. 13 we made a higher high than...
The importance of Fibonacci support and resistance levels cannot be overstated. Look Carefully and you will find 13 instance from Mar. 22 until present in which they have served as support and resistance levels for LTC within a few dollars in most instances and near perfectly in others. Right now I am worried about LTC in the short term for a few simple reasons....
Litecoin is at a critical pivot I have been highlighting for a long time in several posts. The 'golden ratio' of .618 Fibonacci resistance which LTC is currently teetering around (now a few dollars below). We need to see a solid extension above this level, which equates to about 163, to establish a firmly bullish perspective going forward as far as technical...
Dear all! Its been an amazing week in the crypto world and Litecoin is no exception though it hasn't has dramatic moved compare to some other coins. Usually my posts are a bit long winded but this time around I will break down my technical analysis into 4 main points. 1. We saw bullish signs over a week ago in term of RSI and a MACD crossover and these indicators...
Dear all! In my last post (LTC... still teetering April 8) I noted that LTC has shown no clear direction up or down but that a recent pattern of price movement does not bode well. I think according to technical indicators this may have changed though direction is still not clear. We have recently seen some bullish indicators manifest. Specifically there has been a...
In my last post (LTC: FIbonacci levels are in play Apr 30) I noted that LTC has shown no clear direction up or down but that a recent pattern of price movement does not bode well. I think this is still the case. For context please note that you are looking at candlesticks, each representing one day in a chart whose scope is just over 2 months. From the chart we...
Dear all, its been a few days since my last post on LTC (Litecoin is at an inflection point! Mar. 30) and I want to update based on current price action. Frankly I am not convinced that the recent run up is the start of a trend reversal just yet. For context please note that you are looking at candlesticks, each representing one day in a chart whose scope is just...
Dear all, Litecoin seems to be at an inflection point for multiple reasons. I'll explain. First for context please note you are looking at daily candlesticks in a chart whose scope is a little bit more than 2 months. The Fibonacci levels are determined from the run that started on Feb. 6 and ended on Feb .20. On Mar. 18 we saw LTC retrace to the .786 (in the first...
For context please note this chart uses candlesticks which each represent a one day time period, the entire scope of the chart is roughly two months. As MACD and RSI are not sending any overtly bearish or bullish signals we will look at price behavior, Fibonacci levels based on the most recent trend up fro Feb. 6 - 20, and volume. Price wise LTC has been holding...