Taking a look at ADA's daily chart, it appears as if ADA has broken out of its symmetrical triangle and is ready for takeoff. Whether its loss of more than 10% yesterday was due to the fears of Bitcoin correcting or it hitting overhead resistance (dotted blue) is debatable, but what's certain is that Coinbase's expectations to add ADA has made this is a...
Looking at the daily chart for OMG, we can see that the price has been consolidating since its meteoric rise in Aug/Sept of last year. At the moment, it is approaching a key support line (white) from which it bounced off of in December. This support acted as the steadfast catalyst it needed to start its next run up. Could it happen again here? We'll see. We can...
Will history repeat itself? Looking at the daily chart we can see a pattern forming in the price action. Twice before SPR has had a massive jump in price followed by two smaller consolidation jumps. Given its oversold state, I think it's priming itself for the 2nd smaller jump. Actually, the last time it was this oversold was in December 2017 and it grew 9x in...
Looking at the daily chart for DGD, it looks like it is at the very end of its falling wedge. The MACD shows bullish divergence developing since late May. The Bollinger Bands are getting quite tight and the price action has moved beyond the bottom boundary. All these indicate to me that DGD is getting ready for a bounce. I could see a couple things happening from...
Finally! A long overdue pump to bring life back into the market. Looking at the 4-hour chart, we can see Bitcoin hit its inverse head and shoulders target (yellow). However this is just the beginning. You can see that this sets up another inverse head and shoulders pattern which given the head height of ~$1,800, would take us to about $9,300 target mark. This...
With a little bit more of a bullish sentiment in the market, I believe things are starting to turn around and as such, I have been toying with which alts to include in my portofolio for this next bull run. This is one alt that hit its peak last September and has been on a quiet and steady decline ever since. It was a favorite of mine that offered key tech unique...
Taking a look at the daily chart for VEN, we can the price hitting a support line which may be a good area to reload. The RSI indicators are showing oversold and the MACD is approaching a horizontal support line. I don't like trying to catch a falling knife, but with BTC turning more bullish I feel the alts will start to turn around as well. If the price action...
Looking at the daily chart for gold, we can see that, like silver, it has also double bottomed. It is currently finding support on a historical trend line. The two previous bounces off this support were very strong. MACD is showing support and the RSI indicating oversold, everything to me is saying buy!
Looking at the daily chart for silver, we can see the price action has formed a double bottom. You can also see a slight falling wedge near completion, which is also a bullish indicator. With support on the MACD and RSI, silver is a strong buy at this price.
This came across my radar, which I though was worth mentioning. Looking at daily chart for Bitcoin Cash, you can see it has a nearly completed symmetrical triangle pattern. RSI is oversold and MACD has a near bullish cross. We could have a big breakout to the upside over the next week or so.
Again this is not a trading market, but I would like to call your attention to ZCash. It's one of my favorites alts for this post-BTC crash/next bull run. It has great tech and is one of the best known and respected privacy coins out there. Last spring/summer, ZEC exploded almost 7x in a couple months. Since that top, it has struggled to gain any ground. In fact,...
I haven't posted in a while as I really don't think this is a trade market at the moment. However, I noticed a confluence of trend lines on the eBoost daily chart I thought was worth mentioning because it may signify the completion of a much larger pattern. Plus in a paralyzed market, your lower volume coins (to put it nicely) tend to spike and eBoost is no...
This post was inspired by a Game of Thrones episode I saw last night. Whether or not you are familiar with the show doesn't matter, but a character known for manipulating people said the following quote which I would like to put to the test. "Sometimes when I try to understand a person's motives, I play a little game. I assume the worst. What's the worst reason...
Today we are looking at the daily chart for the "People's Coin", Vertcoin. As you can see from the chart, when Vertcoin takes off it flies! I think we are finishing a corrective wave here as VTC approaches the uptrend support line. If so, we could see some gains really quickly. All of this is could be directly affected by Bitcoin, which you should always take into...
Looking at the daily chart for Walton, you can see that it has a history of climbing very fast and then consolidating for months until its next jump. The price action on Walton recently has started to round out and make its way upward. It just broke its overhead resistance and has a bullish crossover on the MACD. It may be time for takeoff! Waves 1 and 3 were...
Looking at SALT's daily chart, we can see a nearly completed falling wedge. SALT has been consolidating after hitting its high in late December and is now showing signs of reversal. The RSI is hovering above oversold and there is bullish divergence on the MACD with a bullish crossover. I would expect a breakout at any time.
Looking at the 4-hour chart for Metal, I find it hard to believe it is this cheap. The price action is in a falling wedge pattern as it approaches the yellow support line of a triangle. You can see bullish divergence on the MACD and in its currently oversold state on the RSI, I am anticipating a nice jump from this falling wedge. If you are not familiar with...