"descending triangles are bearish patterns that indicate distribution". We have a descending triangle in BITFINEX:BTCUSD BITMEX:XBTUSD, and I am short until it makes a higher high and breaks out of the downtrend and *HOLDS* above the level. I am going with the flow, and the flow is downward until that changes and we hold above 7500 and STAY above 7500. We had a...
BINANCE:WTCBTC Waltonchain is breaking out of its long consolidation triangle, but will need more time and volume to confirm its not a fakeout or false breakout. Walton went thru a bunch of FUD lately, and seems to have held its ground well. There are also unconfirmed rumors of a partnership with alibaba circulating the internet, take that as you will.
VeChain BINANCE:VENBTC looks good and bullish as it broke out of its consolidation triangle, did a successful re-test, and now is heading back higher on strong volume. This is good confirmation of the trend-change back to the upwards and would be a good time to get in.
VeChain also has a PR/rebranding event scheduled for February 26th, so I imagine we will see a...
BINANCE:XLMBTC / BITTREX:XLMUSD Is about to breakout from the pink consolidation triangle. Could see some resistance around 0.45 and 0.60. Lots of volume coming in on the 5-minute chart (bottom view) explains the movement today. I am Long. This is my personal opinion and not financial advice.
After an explosive move higher, VeChain has consolidated and pulled back to its rising 8 day moving average on the Daily chart. It has broke its purple pivot line signaling a possible trend change back higher. I'm seeing new fresh volume coming in as it makes a new push higher. Long BINANCE:VENBTC / BINANCE:VENETH
BINANCE:IOTABTC / BITFINEX:IOTBTC has been consolidating for a month+, and looks ready to begin its next bull run. I See a large Bull Flag on the Daily chart, and it has touched the 50 day moving average. As soon as it breaks the wedge, it could begin moving upwards. Long
BINANCE:WTCBTC broke out of a long consolidation triangle, and is changing trends upward. Waltonchain is an IoT and RFID blockchain play with a working demo and large team, with expected updates Feb 2018. Long
After a week+ long consolidation downtrend on the daily chart, I see a great looking Bull Flag setup in BINANCE:XLMBTC / BITTREX:XLMUSD.
It also touched and bounced off the 21DMA on the daily, and am starting to see some volume coming in. The fairx.io exchange launch is around the corner which will utilize the XLM token. Long
Bitcoin BTC needs to catch its breath on the Daily timeframe, and could do this by going sideways until Late Feb/March, bouncing between $11,500 - $17,000 or so.
This would set up the chart again for another large bull run in Spring 2018