bennef

bennef

BTC is following a bearish channel with the last daily high for an uptrend at 40K. The last Fib extension played out exactly to the 1.618 level at 37K, if that happens this time the target is ~24K. It would be nice to resume the macro bull-trend but there is a lot of resistance and a lot of damaged trading accounts standing in the way. RSI forming a bear-flag...

bennef

BTC RSI seems to be creating a somewhat descending wedge and it looks to be nearing the bottom side of it so some relief to this massacre may be on the cards soon. A lot of metrics are the lowest they have been in some time ()months) and we were in a macro uptrend so the BTFD folks have been buying this all the way to where we are now. I expect a bounce very...

bennef

Does it make sense to chart the dominance of BTC marketcap over the rest of the crypto market in the same way you would chart a pair like BTC/USD for example? On the chart is an indicator I made from the Ichimoku Cloud, it simply goes long when prices closes above the conversion line (in yellow) and short when it closes below it. As you can see, following this...

bennef Updated 

There is still a CME futures gap that is yet to be filled between 8500 and 9015 USD. All previous gaps seem to have been filled. Looks like Bitcoin may be on the path to filling this inside the downward channel.

bennef

Bitcoin is in a clear downward channel as outlined by the pitchfork in the chart as the official Bakkt launch date is only days away. Some might say this is a big descending triangle, and if that blue support line breaks then we could see the downtrend continue to at least fill in the CME futures gap in the light blue box. KEEP IT SIMPLE - The safest play here...

bennef Updated 

Litecoin is looking strong against USD as the halvening day approaches. The block reward will be sliced down to 12.5LTC from 25 around August 6th 2019. LTCUSD is sitting at $100 and is roughly following the upward channel printed by the pitchfork on the chart. The highest point that the channel meets the Halvening Day is exactly at $150 so a long position from...

bennef Updated 

Some say he isn't some say he is. Does it matter? Volume is highest on record, already risen 100% from an hour ago. If BSV hits ATH from here then that is a 100% gain. How much weight will this decision have?

bennef

EOS is heating up ahead of the much anticipated announcement by Block One on June 1st. We can see the very bullish uptrend on the chart continue as EOS broke out of the Pitchfork channel yesterday morning. Block One recently unstaked 9.8 million EOS tokens which indicates they might be preparing to launch an application on EOS. This notion is further qualified...

bennef

We have an almost perfect bull flag here primed and ready to pop on this 4hr chart. Volume is tapering down to a low level. The Bollinger Bands are narrowing in signalling that some increased volatility is soon to surprise us. There is some potential resistance that could support price if it gets pushed down but if that happens then the flag pattern will be...

bennef

This 4 hr chart shows potential for a bullish move upwards if the MACD starts heading in the opposite direction after a break out from this flag. Volume is declining too making it easier for larger price increases. I will keep an eye on this one! Potential targets on the chart - a well managed entry and stop-loss could see an easy profit if we get the...

bennef Updated 

On the 4hr chart, the RSI is very overbought and needs to reset as shown here in order to establish a new base for another leg up. Also the MACD looks like it might be turning around and about to head downwards. This signals to me that BTC needs to cool off a little after the little pump we have just seen in order to build up some more upside momentum. The...

bennef Updated 

OMG/BTC has been declining for the most part of this year but has found strong support at it's previous all time low of around 0.000450. One of the more promising ERC20 tokens, OMG development has been soldiering on in the background with a steady stream of commits on their GitHub repos. Price action has not been encouraging for a while since the bears starting...