I'm sharing a tool i've been personally using to when to double up and when to take chips off the table. There is an incredible amount of opportunity in these price movements and the last thing you want is to sit on the sideline or get rekt.
the 12-hour BB with standard settings has been very useful for analyzing trend exhaustion, mid trend support confirmations...
- Second highest monthly close breaking out of the descending trendline = megabullish
- resistance becomes support
- breaking well above 12k and staying in the high 11k range. 10k may be a thing of the past
- bitcoin resistance becomes support, potentially signalling another large rally
- ETH hits new 2020 high and nears target
- ETH gas fees rising places an increase in the demand for ETH
- Dave Portnoy buys bitcoin for the first time
- Second highest monthly closein bitcoin history (bullish)
- long dotted trendline shows strong support for the second time
- on track to make new 2020 highs
-follow @Chelle_coin on twitter for market updates
Why do market analysis? Price is a proxy for public interest. As public interest rises, it becomes easier for cryptocurrency projects to...
Flat triangle with consolidation below $7k and higher lows.. this is BULLISH!
Breakout should take us to at last 7600, with the mid 8k wicks possible.
If we get that, a test to the low 7s is possible but it could easily become a violent move takings near 10k, shown in the second move.
Falling below 6500 will probably take us to 6k or even lower. A bullish...
Ethereum has been battling the 50 MA for months. The struggle to break it has made ETHBTC bearish for the short and medium term, which also holds true for all altcoins. This was explained as a long term trend change back in may
ETH has no support below $116. If th 50 MA does...
I've compared bitcoin 2018 to bitcoin 2014-2015, the pattern rhymes and is a useful comparison. Here I explained why 3,000 is likely - descending triangle breakdown target on a log scale is a 50% breakdown from 6k. Triangle breakdown nearly complete at time of posting.
The previous bear market is useful, however, NASDAQ's...
Bitcoin cash is holding a tight downward channel that is clearly defined and respected when viewed on logarithmic scale. 50 MA playing an important role here. Short the continuing pattern . Target ~$300 +/-$20
BCHBTC broke out of the channel during the late September pump but this rally could not be sustained.
BCHBTC suggests a short entry when we fall below...
Price topped at 7400. looking bearish here, will we finally get 5k or lower? price action nearly identical to the end of July:
- Trendline resistance (better seen on weekly )
- Major MA resistance (Note: 1d 128MA ~ 1W 20MA, last time it was 1D 200MA ~ 1W 30MA)
- reversal a couple days after the daily 9 : drop came...
Since the start of August, BTC shorts have been increasing and are nearing record levels. Will this drive us lower?
VPVR shows POC at about 8200 and a significant volume gap between 5600 and 4800, 4800-5000 is near term (1-2 month) bearish target.
A return to 8200 seems unlikely. The 200 & 350 daily MAs are strong resistance, as shown by the circled yellow...
bitcoin is approaching the death cross of the weekly 30 and 50 MAs. These MAs have been important in the bear market. Short opportunity as price intersects with the pending death cross.
The death cross is inevitable as the earlier weeks with 5 digit prices get rolled out and replaced by 4 digit prices. MACD at its peak when price hit $10,000 back in May.
BTCUSD outperforming most alts July 2018, alts cant break above daily 50MA.
Important to watch the price over the next 5-10 days as the daily 200 & 350 MAs (approx. the weekly 30 & 50 MAs) approach an inevitable crossing.
BTC survives cross: tests 10k & 11.7k recent highs
BTC falls on cross: test the upwards angled trendline (orange) and then 50MA
ETH & alts:...
Rejection at 10k level at Daily 200MA and Weekly SAR is pushing the market low.
Each time the Daily SAR reverses we are seeing a downtrend lasting just under three weeks. SAR Reversal is also confirmed by MACD Bearish cross, if we see a MACD bearish cross in the next day or so the likelihood of the pattern repeating is increased. At the end of the downtrend we...
We can compare Bitcoin over the past year or two to Gold from the birth of Gold futures contracts to see why Bitcoin has a good chance of hitting $44k by year end or by early 2019.
When each asset broke its previous ATH it pushed for a new ATH well above the first (peak Euohoria zones, Gold 4x and BTC 20x).
Each asset topped out at 1.0, then retraced 0.382,...