I'd like to interpret it as weak. Here is my argumentation: -> Firstly, it is acting weaker than TOTAL index (orange line). Despite the overall bullishness in crypto-industry, ETC has been remaining flat over the last days or even weeks. -> These are SLKT bars. They aimed to attract buyers into pseudo-pump and kill SLs of sellers around psycho-number 13.0. The...
Overbought now. At least bearish pullback should follow
AUDJPY is telling a bearish story. More details on Chart. Use the Law of Supply and Demand to Read the Charts properly
Big picture #GBPUSD overview We have a Zone of Strength on background (green square). It started from breaking down the bearish trend-channel in the late July days. This breakdown acceleration produced a panic feeling (I bet, news was very "bad"). Then we got a sequence of accumulation - EVRB (absorbing the panic - blue circle), SLKB (the secondary test) and the...
Overall Crypto Market Overview After recent wide moves, let's focus on a big picture. Where are we now, and what to expect? The Story begins from 22/Nov low (orange line). This is an important level, and here is why: 1/ Panic bar 22/Nov 2/ 23/Nov is indecision day (echo after Panic) 3/ Supply resumed on 24/Nov 4/ This was an attempt of bears to develop...
1/ Market penetrated the previous Minor Low. 2/ Also, it touched the support trend line. We have to expect some bullish impulse to come to play. But with major weakness on background, a potential rally will exhaust quickly IMO.
1/ We have blue lines of downtrend 2/ The Pink Line of support was... 3/ ...broken down in the very bearish style: SB+ND+SB. It was effort of bears to push price down. Chart tells that sellers have control over 1488 level. 4/ I plot green line of resistance on this level. Now read the signs from chart when price approached green resistance line: 5/ ND 6/ Perfect...