XLM has been selling off like it has the plague. This may however set up a nice short-term trade. It's daily RSI is 17 which is really oversold. The price action is in a falling wedge and has hit strong support. I think the bears may be exhausted and it could give the bulls an opportunity to seize the moment as long as BTC remains stable. Bullish divergence can be...
Not much to comment other than what is in the chart. I am not confident saying one way or the other which is okay. When I am not confident in the direction the market is headed and the conditions are volatile/shaky, I go into fiat/tether until BTC tells me where it is going. If I had to guess, I would stick with the trend (bear) and assume we break to the downside...
I like what I see here on the weekly chart. 1) Massive bullish divergence since August on MACD and the MACD indicator just just broke through overhead resistance 2) OBV is going through the roof 3) RSI is in coming out of the oversold range, but is still low at 34 4) Price is potentially breaking out of a long-term falling wedge 5) 40x off its all-time...
I spotted this inverse head and shoulders pattern on QTUM's daily chart. You can see the completed left shoulder and head with the right shoulder rounding out. There is support on several indicators and the Stoch RSI is also showing oversold. This is setup is looking good. Keep an eye on the right shoulder. With a head height of almost 300sat, my IHS target is .001.
Hey everyone! I have noticed that while the alts have been rebounding since the last Bitcoin dip, Bitcoin has not rebounded. In fact, it appears very weak and looks ready to plunge again (see Bitcoin - Why Its Retracement Levels Matter ). In addition to the bearish sentiment and trend in Bitcoin , I spotted a key trend line that has been sending the price of...
Looking at BTC's previous retracement levels after hitting its all-time high in December, you can see a big difference in our most recent bounce in comparison to its previous bounce. In all of it's previous recoveries, Bitcoin hit at least the .5 retracement level and most often hit the .618. However, in this latest bounce, BTC has even failed to hit the .382...
Bitcoin's biggest issue is its repeated failure to make a higher high. You can see from the daily chart above that ever since hitting the all-time high last December, we have not had one candle close to set a higher high. However, you can see the price is forming a massive falling wedge. I think the $3000 area at the bottom of this wedge is also a strong...
I'm seeing divergence on the larger time scales. The price is making higher highs, but the indicators are not. The price is also forming a rising wedge, which is bearish. This looks like a good time to take some well-deserved profit. If you're still in, have a stop order ready if the price breaks the wedge to the downside. There's always the chance of going parabolic.
Bitcoin's bear flag broke down and now the price is fighting overhead resistance. This breakdown found support at the neckline forming a potential head and shoulders pattern. The price is also rapidly approaching the green down trend. More bearish signs. Be careful. It looks like we're headed down.
Taking a look at the daily chart for OMG, I feel January is going to be a very good month. It has been in bear mode since April. However itis coming to the end of its wedge pattern and the MACD is approaching the zero line again. If it crosses after all this time, I expect lots of FOMO. Get ready now. It won't be this cheap for long.
Looking at the 4-hour chart for SV, I see a repeating fractal as it approaches this white support area. In addition to hitting this support area, its close to completing a falling wedge pattern which is also bullish. The MACD is curving at support and bullish divergence can also be seen. SV tends to come out of this area quite explosively. It could be a good...
Looking at the daily chart for CVC, you can see that it has broken out of its falling wedge and is slowly curving its way upward. I think once it clears the dotted pink resistance line in about a week, it should be off to the races!
Looking at the daily chart for WTC, I can help but get excited. It has nearly completed a large falling wedge pattern and is about to cross the zero line. This is a great buy in my book. I'm buying here and hodling.
Taking a look at the daily chart for Substratum, we can see that the price is sitting directly between support and resistance and one will have to give. Which will it be? That is a good question because it could go either way. On the one hand, the MACD has broken the overhead resistance trend (yellow) AND it has broken the zero line. The Stoch RSI is also...
Hey gang! I've been doing a lot of posting on alts, but with BTC showing some weakness I wanted to show you my take on Bitcoin's current status. Many people have been calling for a full out bull run and it is true that the alts have been rebounding. But, they were also rebounding just before we went from $6400 to $3100. I want there to be a bull run just like the...
Tron is breaking out of its continuation pattern.
BCH is continuing to look strong after that massive pump several weeks ago. I posted on a possible inverse head and shoulders pattern coming into play and that is exactly the scenario we have here. BCH has formed a right shoulder which is starting to look more bullish. The MACD is also beginning to curve upward. As long as Bitcoin remains bullish, I think you can...
BCHABC is looking great after its massive breakout several days ago. On the hourly chart, you can see the MACD has found support at the zero line and the price action has formed a bullish pennant. This is also the right shoulder of an inverse head and shoulders pattern. If BCH continues to the upside out of this pennant and through the pink neckline, we could have...