befunkt

befunkt

#nopromises #nottradingadvice #goodluck

befunkt

If you don't use this tool, you really need to. This tool beautifully outlines the vast majority of the various support and resistance zones you will see on a chart, even between the major horizontal zones! Works magic for short-term trading! Combine it with a Fib retracement tool too. Hint: - Start with logarithmic scale on your chart. If that doesn't work, try...

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I spent the day scalping the STORM BTC chart (my new favorite thing). This inverted cup pattern immediately popped out at me. It's the same as Ethererum! (and lots of other coins with charts that look like Bitcoin) The attached picture below shows the detail on the Storm chart. Interesting part: - The Ethereum chart shows 4 hour candles, and it drew this pattern...

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New idea on OMGETH. This is roughly based on my last post, but this time with much more detail (and usable math, to boot). I was struggling for hours to pinpoint where the resistance and support lines were coming from in this pattern, and finally discovered that the Fibonacci Fan fits quite perfectly into the pattern, with clear support and resistance tests on...

befunkt Updated 

Above each of these trends, the price breaks upward, and draws a short consolidation before spiking upward again. The red boxes highlight the points of consolidation. Seems like we are at the end of one of those consolidations right now. If the pattern continues, then we can expect a bull run of about 18-22%. Cheers! -B *This is not advice to trade. You do not...

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Fine examples of the scallop pattern. Bulkowski says these "scallop" patterns with 'U' shaped volume perform best. So far, so good! DGDBTC seems to be leading the way (no surprises) even though DGDETH has much sharper patterns in previous days. We're recovering after a failed Cup & Handle breakout. Would be great to see at least one more scallop breakout. Lots...

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Good day, fellow traders, humans, cerebral narcissists, and everyone else! - Ripple (XRP) was first in the contest. It just took a squeeze and shot up like a bottle rocket, ~22.5%. (and then it crashed and burned up and died horribly) - Next came Icon (ICX), and as I write this, she is in battle with some overhead resistance, trying to take a better spot in the...

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ICON appears to be in a similar situation that we just saw Ripple in before it broke out sharply (and then bounced back down just as hard). Huge bullish divergence in all the right places. If you check the 15m and 30m charts, where alt coins tend to be more responsive than the big players, the divergence persists and we can see a very smooth and gradual rising of...

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The smaller coins rarely ignore a trend line extension. This is where most of the major spikes come from in the AltCoin/BTC or AltCoin/ETH charts - the spikes generally align with a trend line extension from a previous rally. Ripple is in a small squeeze right now. At a glance, it looks like a descending triangle, or perhaps a downward pointing symmetric...

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This massive Cup and Handle is looking pretty good! A proper handle was printed out the past few days with good angle, and now the price is currently headed for the top to see what sort of breakout we can muster up. Price is sitting in a bull flag as I write this, and a breakout of the shown inverted H&S pattern aligns perfectly with the C&H breakout. A few...

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These patterns keep popping up. Both of these charts started the pattern around the bottom of the selloff, but BTC broke and did other things about a week after the bottom. Looks like OMG is still going a month later. Are there any veteran traders out there who can identify these interlocking and inverted castle / H&S patterns by name? They look just like...

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Divergent momentum peaks, MACD cross downward, inverse cup forming. Be safe out there, you trader crusaders! -B

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Likely the last test of this pattern happening now. Looks bullish to me, but we'll see what the bears have behind the front lines! I've been zooming in to 15min, 5min, and last night for the first time, 1min to view consolidation patterns. Very interesting stuff! It seems like it can all be broken down into smaller triangle, flag/pennant, and cup / H&S patterns...

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The top one is recent. Bottom one is from the 12th. Looks way better with 5min candles, but TV doesn't allow posts that zoomed in. Don't panic! - B

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I know better than to believe it before I see it, especially with Ripple. But... there are lots of indicators going on here! Cheers, -B **This is not advice. This is not a recipe. You do not want to cook with these instructions. If you find that you do, in fact, want to use this post as advice: don't.

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GF: Don't stare at charts all day, ok? Me: Ok. -B

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Happy Monday! -B

befunkt

LTC is continuing to gain independence with its positive uptrend positioning, meanwhile ETH, XRP, XMR, etc obediently wait for big daddy BTC to get off the couch. This is not a definite triangle breakout yet. Wait for the 4h candle close coming in 90 mins, and a bigger volume spike would help, too. I'm still seeing $308 as being possible in the next few months...