I initially thought the latest price action might be the beginning of a V reversal.
A closer look and drawing of a few lines confirms that a Right Angled Ascending Broadening formation (a mouthful I know) was broken.
Price action will probably retest the lower blue support line before kicking back downwards.
As always, with charts, nothing is written in stone. ...
Bitcoin is struggling to hold it's current level.
A short ascending wedge is forming leading up to the 10,500 level.
Volume falling on the weak climb.
I don't see the bulls charging in to consolidate here.
Worth noting that if it keeps bouncing and finding support at 10k - 9.5k whilst it's highs get lower it will create a descending triangle which is...
Potential Bear flag forming on the 10,500 (prior resistance) after Head and Shoulders Top.
If the bulls can't lift or consolidate here it could plummet to 9000 support level of June/July or perhaps find support on the long term trend line just above.
3 Distinct tops and a 'broadening top' formation having me thinking this might tank soon despite it being forecast to have a few good years ahead.
It's also slipped below the 50 day which doesn't bode well.
Half yearly report due soon. See what happens then.
Don't trade it but love it's moves.
Most sentiment seems to be bullish on BTC.
I see things a little differently.
It appears to be ranging and could break down if the bulls don't pick up the pace.
1. It slipped out of the channel after a major run up before hitting the resistance line.
2. It violated the 50MA which has resulted in a sell off in the...
I'm a fan of the Minervini's VCP (see ZNO.AX).
FPH.AX appears to have finished it's contraction and is set for another profitable run.
50MA above 150MA above 200MA
Steady earnings growth.
A slow and steady climber.
I think this indicates gold is about to test all time highs based on this kind of chart.
Someone else pointed this out on social media and I've had a closer look at it.
A perfect inverse head and shoulders.
Cleared resistance at 1700, got thrown back and then broke through again.
It becomes apparent now that a lot of ASX gold producers are showing a similar,...
I have been reading Bulkowski. Exhaustive amount of information to be digested.
Here is a trend reversal pattern.
Inverse head and shoulders formed on Regis Resources and it gapped up this morning on opening increasing chances of success. The tall and tight nature of the formation is also a predictor of success. Average gain on this pattern is around 30+%...
PPK has been building a long, low volume/low volatility base the past few months after a massive run up at the end of last year. A perfect cup and handle has been by passed with a gradual incline. 20 MA now above 50 MA. I love the look of it. See what happens in the next few weeks.