This is my update for Bitcoin in April. I do understand the idea of buying Bitcoin on the weekly swing trade since it is near reaching the 8.5k-9k resistance area it has reached many times before. In the very short term, we do see a bullish ascending penant and it could very well turn out to be an inverse head and shoulders. But the RSI is questionable, and is...
Often, the question is "which range". Answer: all three.
Oil appears to be at a high within its ranges and generally overbought. Don't let that W fool you.
(Of course, environmental and political changes can alter these forecasts)
Appears to be a falling wedge pattern. In any event, the TA for this weekend doesn't look great. RSI is descending. Trade within range, but monitor carefully
Breakout: when?
These are just illustrations of a few different possibilities, depending on which range we break out of.
In any event, Bitcoin does not have a good few weeks ahead of it.
(Arrows and fluctuations not drawn to scale)
On the one-day chart, I counted how long each of Bitcoin's streaks were. How long were the up streaks and how long were the down streaks. Some subjective, but understandable, criteria was added. Lone doji's are not factored in. Doji's in between streaks are ignored because I think most traders would have the patience to hold for a day, especially if it meant...
During the 2008 recession, economist looked at data from the Great Depression in the 1930's to help them understand what the path to recovery would look like. In cryptocurrency, the only past example of a major retracement was 2014 (and that took 3 years to recover!). However, of course, since more people know about crypto now and there are other great coins and...
Apple is currently in an overall upward trend. It's a range with a series of increasingly taller triple tops, but both the overall low's and high's are going up. However, when drawing the lines, I noticed that it is forming a very slight wedge. If the disparitities between the high and low trend lines increase further, Apple could be bearish. Until then,...
AMD is topping right now. We are currently seeing the descent of the third top. If you own this stock sell it.
I believe a lot of this increase in 2017 was due to their new Ryzen processors which were designed to gain control over Intel's market share. A portion of this growth is genuine because AMD is controlling a larger share of the market than they did...
It's been a series of steady growth triangles until recently. Now it's growth is much sharper and a correction is coming. Indicators show its overbought at the moment. There is also a bearish divergence between its recent upward trend yet the downward trend of volume. Recently, this surge of sharp growth appears to be in a Rising Wedge pattern which is...
9Ripple has been ranging in between 75 cents and $1. These are also the two strong supports it had before skyrocketing up to $2-3+ (expectation of Coinbase and banks adopting it soon). It was flat near 25 cents for several months, which is an indcation of the floor it could reach if the whole market falls.
With the Bollinger Bands and Stoch RSI indicators,...
I believe Ethereum has a bright long-term future due to the fact that it is not only a superior currency to Bitcoin. However, it is also a platform which has created the vast majority of altcoins. Whether or not "the flippening" happens, I'm bullish overall for the next 1-3+ years in general. However, for the short and mid-term future, I urge investors to use...
Bitcoin has been in a downward range, although recently, it has widened. We are still in a period of high volatility. Some investors are abstaining due to lack of certainty. Some investors are just shorting the market for quick pumps. I don't see a meaningful recovery possible until the market stabilizes.
Despite many technical analysts being in denial and focusing on short-term bullish indicators such as the inverse heads and shoulders and W's, the overall pattern is clear. Bitcoin will be bullish overall in 2018, but it must first truly finish its retracement, and enter a period of low volatility at its true rock bottom before the full recovery up to 20k can...
Cardano has reached a low of 24 cents. Is it a good time to buy? For daytraders, perhaps, it's at the low part of its current channel. For holders, it's not a bad deal either; I would expect Cardano to well exceed 24 cents when the market cap goes higher. However, for the week and for the month, Cardano still has not broken out of its downward channel. In...
