Theta has finally broken its resistance and I see a lot of upside for the rest of the year, maybe into Q1 next year. I am looking to take profit at about $40 and if/when I see some consolidation patterns I will double up at major fib levels with some of the margin I create in the move. Quick look at technicals We are above the SMAs on this break out and the...
I have been thinking about this idea for a while. There are lots of people that think that technical analysis doesn't work or it is "astrology for men" on one end of the spectrum to the other end where people say "if you show me the charts I can tell you the news." This is one of those moments in time where it seems to be closer to "if you show me the charts I...
Greetings, Tezos has been consolidating around all time high (relatively speaking for crypto) in this cup and handle formation and it appears that the handle has taken the form of a falling wedge. This wedge is performing on the lower time frames and I suspect we will see the formation perform over the next couple of weeks. The most common stall target for...
Greetings, We are waiting for a pretty simple confluence of indicators to resolve hopefully in the next week or so if not sooner. There is a lot of bullishness in the crypto market and rather than chance something that is already on the move I am looking to catch something before its next big move. What I am watching for is pretty simple... big moves end up...
Greetings, This post is a sister post to my recent Total2 post which seems to be almost mindlessly bullish. That idea, combined with the bearishness I see in BTC.D, suggest that Alts are going to be outperforming to the upside in a big way. The first key structure is the black flagpole which is shown on the trendbased fib extension in black. The TA is pretty...
This is another look at what I am calling "The Total2 trade" for alts. The I believe I see a fractal in Total2 which suggest an alt season could last more than a year. Blow By blow The light orange boxes show a multi-year consolidation on the altcoin market cap That consolidation lead to an initial break out into the blue boxes. In 2016 we consolidated...
A new month and a new iteration of this system. I developed this volatility and volume based system to help me with the wider view of markets and to help me steady my hands when it is time to let your winners run and also help me cut my losers. It works for me on various time frames so long as I am patient and don't overthink things. I am not qualified to give...
I have been watching this formation develop for what feels like a year now and it is slowly grinding its way through and it seems we are finally on the verge of having the performance begin Generally speaking, since the dotcom crash NDX has gone up faster than SPY and so that has made it the bet for people to "just by the index" to make their gains. But now with...
It has become apparent that bitcoin is setting a lower high. With a move as impulsive as bitcoin experienced it is natural to look for an ABC correction after such a move. There are many ways that the price action and charts could develop but the ABC correction is one of the simplest and most fundamental moves that can exist in any analysts tool box and the nice...
So far I see a breakout of this falling wedge structure and price action has returned to test the wedge. My stop loss is by the ray at 128 in case we have a W pattern and a lower low. I am looking for continuation to the upside. We see the price action has respected the fib retracement on this uptrend, stalling at the 0.5 level around 170. The path is...
I see the potential for a very large move on Total2 based on the similarities I see between the current consolidation and the consolidation of late 2016 to 2017. I have an alert on the highest daily close shown in grey on the chart and I have been waiting patiently for that. My view on the alt coin market therefor will be very bullish if price takes out the...
Fresh off the presses from the 3 day close. The current top and the top of early 2021 have a lot of similarities. Key for this idea are the bearish rising wedges which are confirmed by falling volume as the pattern continues. If this is going to keep going with the similarities we are going to see the red volume really begin to pick up now that the DI+ has...
Solana appears to have slipped key support with the failure of this rising trendline of support with a descending triangle structure. Given the stage of the market I hope for some overperformance but the fib retracement levels are where the technical non-greedy places to take profit are. Linked idea is catastrophe planning for a bear market.
I had mocked up these bands on the chart with the intent of looking for places to take profit on upside moves but it appears that Dash isn't going to make it through the orange zone just yet. There has been a downward channel with a slight broadening aspect to it since 2017 and seeing a head and shoulders at channel resistance does not make me confident that...
I have spent some time looking at the dollar (DXY, see the linked Idea please) and it has a lot of upside potential based on some simple TA on the monthly time frame. Based on that potential prolonged dollar strength I think some crypto Crypto Catastrophe Planning is in order. Last bear market one of my favorite analysts, Francis Hunte, called his XRPBTC short...
This post just iterates the fundamentals chart formations, support and resistance and Fibonacci retracements. When it comes to rising wedges the wedge often fully performs after a retest of the previous wedge support. As rising wedges are bearish in nature they often do not require a rejection to perform, but any rejection does set up a potential ABC correction...
A quick post with wide-reaching implications. I have distorted the charts to really zoom in on the hidden bearish divergence. The price action has a higher low but the MACD and RSI have set lower lows. That action increases the probability that we will see a sustained MACD cross and a uptrend that could last a 18-24 months. A zoom into the weekly time frame...
Average True Range Analysis Price action on SPY has been getting tighter and tighter as it comes deeper into this rising wedge structure. This is most clearly viewed on the Average True Range. I have taken the standard 14 period look back and times it by 7 to get the weekly look back and we can see clear divergence. A falling true range means that there is a...