VanBenno

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BTCUSD 53% | 7 XVGBTC 15% | 2 STRBTC 7% | 1 NEOBTC 7% | 1
51 0 0
BTCUSD, 60
Big picture, 1h, descending wedge.

This is a rehash of a chart I posted on April 4th. This time I changed the timeline from 1 day to 1 hour. You can see a bit more detail this way. The chart is very simple. All I'm looking at here is how the price action is moving within this descending wedge and analyzing how strong prior supports have been and their association with fib retracement levels. As you ...

386 2 8
BTCUSD, 1D
Mega Falling Wedge. And what about the volume?

Bitcoin has been forming a very large Falling Wedge over the past several weeks. We can see that support and resistance levels are bound by the wedge, and that we are nearing its apex. What will happen at the end of this wedge? Considering market sentiment and the current global financial climate, I'd say it's more likely that BTC will break downards. But there is ...

VanBenno VanBenno BTCUSD, 60, Short ,
282 1 6
BTCUSD, 60 Short
Double Top neckline Broken.

In this variation of my most recent chart we see that the downward pennants (continuation patterns) are playing out and the price has finally broken the neckline of the Double Top. This validates a downward breakout. This should have triggered stop losses if you hadn't sold already. In addition to the neckline being broken we also see that the crucial 50% fib ...

128 3 4
BTCUSD, 60
Double Top with fractal recurrences.

Instead of completing the potential Cup and Handle formation yesterday, the price of Bitcoin decreased further and is now resting upon the neckline of a Double Top. There have been large spikes of selling volume at a couple of key levels which have ended in pennants before the trend continued downward. These pennants may also be interpreted as miniature Double ...

VanBenno VanBenno BTCUSD, 1D, Long ,
236 0 6
BTCUSD, 1D Long
Cup and Handle. NOT H and S.

This chart looks like it's been turning into a Cup and Handle for a while now. Last night the ridge of the cup formed which resulted in the beginning of the formation of a Handle. Something which many of us called and accurately predicted. Now, it appears that we are nearing the support of the Handle. Soon the apex of the cup will be tested for the third time and ...

VanBenno VanBenno BTCUSD, 240, Long ,
309 2 3
BTCUSD, 240 Long
Head and Shoulders finishing with a Cup and Handle.

If you followed my previous post, you'll have seen the H & S we were following. So far we are seeing strong signs of a trend reversal in favor of the Bulls. Right now we are witnessing the completion of another bullish sign of an overall market increase in value. The Cup and Handle to the right of the Head and Shoulders is actually integrated with the right ...

VanBenno VanBenno BTCUSD, 240, Long ,
340 2 2
BTCUSD, 240 Long
BTC showing signs of Trend Reversal

If any of you have seen my comments around here, you know that I'm no Bitcoin Shill... In fact, I pretty much detest the stuff. But the facts remain. The perceived value of BTC still directly correlates to the price action of all other coins and tokens. As asinine as it is that we all trust and believe in a coin which is centralized in China, owned by a couple of ...

472 6 1
XVGBTC, 30
Bullish momentum building following consolidation.

Cup and Handle. Bullish sign that the consolidation is over and the bulls are starting to take over the balance of power. This coin has been really chomping to take off but the 20 and 30 BTC sell walls which are placed all over the first 50 orders in the book have been successfully stopping what could have been some very strong upward momentum. At the time of ...

242 0 0
XVGBTC, 15
Bull's Exhausted? Head and Shoulders appear.

The Head and Shoulders pattern is typically a bearish sign of a trend reversal. We see one having appeared here and at the moment we are just at the neckline. If the neckline is broken we may see a continued trend reversal. But we have also seen this pattern reverse and lead into another bull run. What I am most uncertain about in this analysis is the volume. As ...

VanBenno VanBenno NEOBTC, 30, Short ,
691 4 6
NEOBTC, 30 Short
Bearish Reversal. Head and Shoulders: Confirmed.

Here I'm seeing a Head and Shoulders pattern which has broken the "Neck-Line" and the most recent flag on the far right of the chart appears to be a "Bull Trap". The volume appears to confirm the pattern as well. Considering that there has been no major news or events regarding NEO which could possibly explain this kind of movement, I believe that the majority of ...

397 0 5
STRBTC, 30
XLM assessment

Nothing profoundly exciting is notable in this chart. Things appear to be consolidating with little risk of a downward trend. Buy orders far outweigh sells on Bittrex at the moment. But there is no clear Bullish purchasing volume present. XLM traders playing conservatively and appear to be awaiting their next move. This phase does not appear to be unlike what we ...

223 0 2
IOTBTC, 30
Breakout or Bull Trap?

Is it consolidating for a breakout? Volume looks decent. RSI middle of the road. Any thoughts? I'll analyze in more detail when I get a moment.

VanBenno VanBenno XLMBTC, 120, Long ,
243 0 9
XLMBTC, 120 Long
XLMBTC Cup and Handle formation

Here we have a chart playing out which satisfies many (if not all) of the requirements of a Cup and Handle formation. First we see that there was the beginning of an upward trend prior to the left "rim" of the cup being formed. Next we would expect the cup height to be between 1/3 and 2/3 the height of the prior upward movement and this chart measures within ...

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