Many times the most powerful moves are the result of strong technicals + strong fundamentals. Here on the chart you can see strong technicals suggesting major upside for OMG/USD. The chart appears to be in the early stages of a Wave 5 move upwards. Now, in terms of fundamentals, what could lead to such an explosive move? Well, put simply: Big Money. And perhaps...
Sometimes it's good to keep it simple. In this chart, you can see the performance of the bullish engulfing pattern on the Weekly chart for LINK/USD with a trailing stop for the exit. Massive gains with minimal drawdowns since 2019. Will it play out again this time? Time will tell. Let's see what happens!
Over the past few months, I've generally been looking at the log chart on BTC/USD.
Today, I decided to take a look at it with the log scale turned off. Here's what I came up with:
In the near term, BTC could see a double bottom in the ~8000 region.
After that, it could make a push to break out of the symmetrical triangle and make a nice run.
It may then...
Falling wedge after a monster rally. I'm not sold on these wicks. I think the candle bodies need to close down near the 61.8 fib retracement of the overall run. I'm taking profits here. Would scale back in at confirmed signs of reversal between $700-$900.
1.) DMI- still holding above DMI-
2.) MFI still weak
3.) RVI weak
4.) RVGI crossing below slow...
1.) Apparent symmetrical triangle forming, with price action nearing a breakout.
2.) Volume dropping off.
3.) Price appears to be moving down within a channel. Linear regression line applied with standard deviations above and below for visual purposes.
In an effort to determine potential targets, segment AB was drawn at the...
Here's what I'm looking at with BTC now:
1.) RSI 14 is sitting at around 36. Historically, we've seen this RSI bottom out at between 19-27.
2.) RVI is still negative.
3.) A few days ago, MACD crossed negative for the first time since September 2017, and is showing no sign of reversal yet.
4.) DMI is negative.
5.) We have broken through the Ichimoku cloud...