eyupium

eyupium

The projected target of the rising wedge is in the 0.027 area. Looks like a good setup with a close stop-loss and not much risk.

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We've had a strong impulse to the upside, but the price is now showing signs of weakness. The chart is self-explanatory. The market structure has been broken (lower high, lower low), and now a retest of the broken support above would provide a decent entry for short selling. Targets are: 1. 3561 2. 3521 3. 3476 4. 3426 Not all targets will be reached...

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Forming a descending triangle pattern, indicating the bears are in absolute control still, and every attempt to push the price higher gets stopped right in its tracks and pushed down towards the support. When we see a support zone being tested again and again, it usually means it's getting weaker each time the price touches it. The demand there is getting...

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I see so many people turning extremely bullish after this move today. There will be plenty of time to be bullish once the market proves the bulls are taking over. So far that still hasn't happened. Let's zoom out a bit and take a look at the chart. The price has hit straight into the resistance zone, and people who get bullish and buy right under the resistance,...

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The price has been steadily dropping these past days, no correction upwards, no signs of a bounce or any kinds of reversal. Very similar to capitulation (it could very well be, but I don't think we're there yet, unless this drops straight to 3000-2800 from here). What we aim to catch here is a correction to the upside. Not a trend reversal, just a...

eyupium Updated 

The support that held this market for a year has now broken. Is it game over and all hope lost for the bulls? Almost, but not yet. These markets are tricky, and they don't usually let something that looked like a little too obvious "bottom" at 5800-6100 area to actually be the bottom. Larger players know that there were lots of stop loss orders just below those...

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Price is moving inside a broader, well defined two-month range. No clear direction yet, until range gets broken on either side. While in the range, apply the range trading strategy. Look for buy/long near the range support. Looks for sell/short near the range resistance. Rinse and repeat until stopped out (range breaks). No panic. No overly bearish/bullish...

eyupium Updated 

The price has been making higher lows inside a consolidation (trading range) for a few days now. Major trend in BTC is still down, but we do have a local uptrend since 6100. These types of consolidations inside a local uptrend are more likely to break out to the upside. The higher lows inside a range are a sign of accumulation (supply drying up, demand increasing...

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The price has been moving in a downtrend channel for a week now with no significant bounces or corrections to the upside. There are still not many signs that indicate a larger bounce happening. No reversal chart patterns. The daily chart looks particularly bearish. However due to the fact that this 6750-6850 area is the key support level since the move up towards...

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Whenever you see a large sell-off and the price dropping without any meaningful retracements or relief rallies in between the drops, you can be almost certain there will be a sharp and fast move to the upside sooner or later. The price has been moving in a falling wedge for a few days now. A falling wedge is a bullish reversal pattern and indicates exhaustion of...

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The range has narrowed down. Price is now moving in an uptrend channel . Furthermore, it has formed an ascending triangle , which has a bullish bias. The volume is dying off as it's getting near the apex of the triangle, indicating a bigger move is about to happen. If this setup were to appear anywhere else, it would be a clear bullish scenario. The only issue...

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The fall after 10k rejection was long and brutal. Is it over? Spolier alert: Most likely not. However, nothing goes up or down in a straight line, and when you see a large move in either direction, expect that the potentially large correction will eventually follow. In my previou analysis I've been showing the bullish RSI divergence near the bottom, as well as...

eyupium Updated 

The price formed a falling wedge (bullish reversal pattern), and a bullish divergence on the RSI. All of this on a 4h chart, which is a relatively safer timeframe from the short-term price manipulations that we often see on the 15-30 min charts, even the hourly chart lately. The volume does not exactly fit a falling wedge though (it should be reducing towards the...

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After two failed attempts to break the 10.000 resistance, the price got rejected quite hard and a correction to the downside was inevitable. What we see here is that the price is now forming a falling wedge bullish reversal pattern, indicating the sellers are slowing down, which usually happens right before a bounce. There are now new resistances formed above,...

eyupium Updated 

The price is moving inside a large parallel uptrend channel. Additionally, the price is forming a falling wedge bullish reversal pattern, which indicates the selling is slowing down, and a bounce is likely to happen soon, which also matches with the channel support line. As long as BTC is behaving well, NEO/BTC is likely to show very nice gains from this...

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I don't usually do altcoin analysis, since BTC is my main focus and it dictates how the other coins move, so TA for altcoins is only valid as long as BTC behaves properly. However, this chart has some nice clues about where EOS is likely to move further. This coin had an incredible bull run the past few weeks, and now it's cooling off and consolidating the huge...

eyupium Updated 

BTC has been consolidating inside a large symmetrical triangle for a few days now. Symmetrical triangle patterns are continuation patterns. Although I've been expecting a retrace to the lower support levels, in this case, it broke upwards with good volume and a strong closing candle above the resistance. Therefore, we can expect a good continuation move...

eyupium Updated 

BTC has been on a very strong rally since we hit the bottom at 6400s. Although the market is very bullish, and the momentum has been strong, nothing goes up in a straight line. In order to break the heavy resistance at 9050-9245 area, the price needs to have a healthy pullback down to stronger support levels where new buyers will enter the market. The current...