Since the 8.4K top we have been coming back down to fill this gap here. I would not expect price to fall below 7.6k because of this. We are also currently over the 0.382 bullish retrace. A reversal here makes sense to me to eventually see the 0.618 retrace discussed in my prior update near 9k. This is only my opinion.
HELLO ALL AND GOOD EVENING Here is my thought on what we could possibly be seeing now. Price is under the 200D EMA just as it was when forming this pattern back in 2018. If we do not break above the 0.618 and over $9,000, then Bitcoin could be repeating this structure and make a lower low under $6,000 in the coming months. This is only my opinion.
HELLO ALL AND GOOD DAY TO EVERYONE! Bitcoin has completed yet another rangebound week, making this a total of 6 weeks thus far in this sideways channel between $6,500 and $7,900. As everyone has most likely seen or noticed, the price has definitely formed a falling wedge sine topping out at $13,800. This is something we have been discussing here at length for...
HELLO ALL! Inverse head and shoulders pattern on the 1D chart after a bullish divergence from the MACD and RSI. Things are lining up for a move to the upper trend line that is the resistance from the falling wedge. Once reaching that point, it should not be excluded that a rejection could take place and for price to make one more final low in this bear market...
Hello all and Happy New Year! BTC has been trying to make a higher high but to no avail. The current structure resembles a falling triangle with the flat support just above 7k and the descending trend line that has been established. A third higher low now would lead me to believe a measured move from this triangle would happen near this demand zone at $6,650....
HELLO ALL AND HAPPY HOLIDAYS! The year is coming to an end, and the monthly candle is looking very bullish so far. A close above the golden retrace of $7,240 will be a wonderful sign and in my opinion, will not look back if that happens. Starting with the weekly chart. The MACD is showing bullish divergence with negative momentum slowing down. The RSI is...
Good morning all! Leave a like if you enjoy these posts! It does not cost you anything! In the last update It was discussed that the price would most likely hit a resistance level at the marked area which it appeared to do so. Upon reaching this area the RSI and MACD showed a Bearish divergence leading to the correction seen here now. Support came at the...
Hello all and welcome to this detailed update for LTC! Leave a like and comment if you find value in this! Before I do get into this analysis I would like to mention one thing. That is the definition of YEHOK. It is ancient Mayan and means to speak or say. So speak up ! Speak out! Your opinion holds more weight than you think! Share your thoughts! We have...
Hello all! Please reference my last post on BTC if you have not already done so! The flag formation seems to be holding up thus far. We will most likely see this consolidation play out until the end of the daily close before seeing a spike to the upside. Remember we are not trying to predict the future! Only anticipate it! The 1H chart is possibly showing...
Hello all! Lockheed Martin is showing higher highs in price but lower highs in volume, RSI and MACD. Look for support on the 200W EMA. It is always possible that price continues to move to the marked area above at $420 for one more push up. Assuming the top is already in, the 0.618 retrace would be in confluence with the 200W EMA.
Good morning all and happy Tuesday! Please hit the thumbs up if you enjoy these posts! It doesn't cost you anything but means the world to me! Let us start off by taking a step back at the larger time frames. On the 1D Price could be seen in a falling triangular structure. coming off a bullish divergence on the RIS and MACD, Price is attempting to make its...
Good morning all and happy Monday! Please hit the like button and comment if you find value in these posts! Feel free to message me for a more detailed analysis! On the 1H chart there was a bullish divergence leading to the 0.886 level just under $7,800. In prior updates it was discussed that price could have been in a falling wedge or channel making its...
Good evening all and my apologies for this late update! XRP has been moving today and we will discuss the reasons as to why today - Monday - this has happened. Even thought Cryptocurrency is a 24.7.365 free open market, there are higher volume players who do not trade on the weekends. These institutions rely on computer programs to do their trading for them...
Good morning all! Welcome to this quick weekend update for BTC. Last night we saw price re tested the recent low of $8,000 however has not gone below at this point in time. I continue to track the down sloping channel and wedge for the break to the upside or a final support area of $7,880. 4H RSI on a critical support level. 4H MACD lower levels of...
Good morning all and happy Saturday! XRP broke up out of this rising purple channel and has re tested the rising white one. Price could not get back into it and is now testing as resistance once again. The gold lines represent the trading range we have been in if not including the long wick marked by the purple price point. RSI is still in bullish territory on...
Hello all and sorry for this hasty update. LTC seems to be fighting this resistance level with a rising support line. Price could be getting ready to break back up near $65. Keep a watch for a decisive break and close above here.
Good morning all and happy Friday! Leave a like and comment if you enjoy these updates! Last night BTC fell to $8,000 again. In this analysis I will attempt to make the case for a possible return back to $9,000. Price might find its way down to the 0.786 target mentioned in the previous update at the $7,850 range, however using the 0.618 target we can see a few...
Hello all and good evening! Last night the prospect of a long was shattered by XRP's inability to hold support over the upper descending channel line and has now fallen below the rising white channel. The technical target would be the support at the 0.618 of the recent low and high points marked by the squares. Of course price can always return back into the...