crypto_trends

crypto_trends Updated 

BTC has continued to show its resistance from a further plummet for about a day now. From what I can tell in my opinion (as always, never advice), BTC price looks to potentially be forming a bullish ascending triangle in the short term (solid green lines) right around a Fibonacci resistance level from the last dip. If the trend continues with a candlestick close...

crypto_trends

OMG looks to be approaching a good opportunity for a bounce off of a previous trend line right around the long term 61.8% Fibonacci retracement area. This looks like it might be confirmed by hidden bullish divergence on both RSI and MACD for a continuation of the bullish trend. I recently published as well how there was a double bottom for OMGBTC that looks to...

crypto_trends

Bitcoin took quite a wallop in the past 24 hours hitting near the expectations near 46-48K I had mentioned last time, but it now looks to be showing some signs of relief at least in the short term. The downtrend channel looks to be solidifying itself more from what I can tell (red lines on price) and looks to be demonstrating a slight bounce based on bullish...

crypto_trends

Bitcoin cash had a great run last week but ultimately caved to the BTCUSD downward trend over the past few days. Although there have been a few recoveries here and there, BCHBTC instead looks to be forming a descending triangle rather than any positive trends over the next few days. Confirmation is still needed, but if a triangle does form and breaks downward, it...

crypto_trends

BTC has been forming a wedge after the dip occurred a few days ago. As the wedge has continued to form, hidden bearish continuation divergence has also appeared on RSI giving confirmation that further downward trends may continue as the wedge has begun to break downward. There are still a few bullish patterns that are possible, for example, this could be the...

crypto_trends

I am usually not much of one to talk about stocks as much as cryptocurrencies (as my username indicates), although I feel like it would be an injustice not to mention the current breakout of a bearish pennant for coinbase. It started to form a wedge yesterday, but looks like it has broken downward today. As with most IPOs it is often tricky to determine trends...

crypto_trends

Despite what many may say negatively in the past few days as DOGE is one of the few alts to rise, DOGE at least has had quite a showing for bringing in some positive sentiment during a BTC drop as well as introducing many folks to cryptocurrency in the past few months. That being said, for anyone curious about the "bubble" possibilities of DOGE, I just wanted to...

crypto_trends

It looks like UMA has had a great run against BTC as the price has begun to head downward for the latter. I rarely put the "USD" in the title of my posts as rarely is it significant, but I just want to call out a few things about UMA. 1) UMA is trending well against BTC, with a potential to keep up this trend and fall less drastically if BTC continues to drop (I...

crypto_trends

A rather drastic drop just occurred for BTC with potential (probable) drops to continue (after possible short-term retracement). The long-term linear trend just took a rather harsh hit as the price dipped below the support around 58K and subsequently plummeted to around 51.5K USD. However, this doesn't look like the bull market is done just yet. Whenever I see a...

crypto_trends Updated 

BTC is currently holding at some rather crucial support from the long term trend (white line). On the positive side, support has not definitively broken on price nor RSI, so very well might bounce (although it is right at the precipice, so there is understandable concern here). There is also still the possibility that this is still just retracement at the 61.8%...

crypto_trends

DASHBTC looks like it is breaking a falling wedge that has formed since 2020 (green lines). Although DASHBTC originally formed and broke out of a smaller wedge during the explosion that happened in February (yellow line), it looks like volume still is not near the higher breakout levels for DASHBTC. Although this could mean a potential fake out, it also could...

crypto_trends

OMGBTC recently had a near breakout from a double bottom w-pattern a few days ago (blue dotted lines). It has since started to retrace (as is common with a double-bottom breakout), however, if it does in fact continue to break upward again, there is some interesting resistance right around the corner. Since 2018, a descending falling wedge has been forming for...

crypto_trends

Bitcoin has been dominated recently by a huge influx of alt price increases while the price of BTC has steadied. However, it looks like a pushback is right around the corner in the next few days based on the current trends. On the one hand, there is a horizontal parallel channel that has continued since the beginning of 2019 (blue dashed lines)! On the other...

crypto_trends

Compound looks to be another alt that is experiencing a neckline breakout from an inverse head and shoulders pattern. It looks like a slight retracement is now occurring which has the potential to break down below the neckline still, however, assuming the trend continues, it has a bit of potential upward as indicated by the head to neckline length extended after...

crypto_trends

CRV looks to have broken out of the cup and handle pattern I mentioned a few days ago. There still looks to be some resistance around 3.80 USD, but if that breaks, 4.40 USD looks to easily be within reach and beyond. There also looks to be no red flags indicating a fake out from MACD and RSI from what I can tell, so it looks like the largest risk I see is if BTC...

crypto_trends

An inverse head and shoulders pattern looks to have been forming on the daily chart for ATOMBTC. It looks like the neckline has finally broken today. If the rules of the head and shoulder pattern hold (as of course, no pattern is guaranteed), it looks like there are still some potential returns possible if bitcoin continues its upward trend (as indicated by the...

crypto_trends

It looks like LTCBTC has managed to break resistance of a wedge that has been forming since 2019 (blue dashed line zoomed in, see my previous posts for details about this resistance level). There is still a bit of resistance above the current ascending channel (dotted yellow line), but the target now looks to be a much longer "years-long" wedge that has been...

crypto_trends

CRV looks to be another alt showing a cup and handle pattern. There is still some room for CRV to continue sideways or even downward (as indicated by the wedges with green lines and green dashed lines), but it looks like it is maybe one more alt that could be heading upward out of the cup and handle pattern soon or continue to form into a wedge in the short term.