LINK looks to have failed a 3rd attempt to breakout, locking in a very large bearish engulfing pattern on the weekly. If this pattern follows through I'll be looking in the $2.70-3 range as a major support.
While ETHUSD isn't looking the hottest right now, ETHBTC is looking pretty good. ETH was able to put in a bullish inside bar/ pin bar vs BTC on the weekly. For this setup to remain valid price needs to stay above the low of the pin bar but optimally I'd like to see it stay within the channel. Target would be the upper end of the channel if the setup plays out.
ETHBTC has thrown a very bullish signal from trendline support today in the form of a large bullish hammer. I like this setup for a number of reason 1)the hammer that formed was large in size 2) price bullishly reversed from a key support level 3) there was almost no upper wick on the candle. I think the chances are very high that ETHBTC rallies into the...
I think this chart is showing a very high possibility that alt season has begun. After getting pushed lower over the last few weeks due to Bitcoins dominance we are now seeing a clear shift. Alts have strongly reversed and have moved back above key support in a bullish reversal.
In this video I talk about a live trade I have had open since yesterday and my thought process with setting entry, stoploss and profit targets. I also cover hourly, daily and weekly candlestick analysis. This video builds on top of the analysis I posted yesterday.
This ratio of ratio's chart paints a pretty clear picture that ETHBTC's ratio compared to ETH's price in USD is at historic lows and is also sitting right on support. This could also means, compared historically, that the ratio flat on support and there is huge potential of ETH outperforming BTC if BTC and ETH continue to rally vs the dollar.
A bullish inside bar / pin bar pattern has formed. If price can break out strongly enough to retake the trendline it had broken out of a week ago that would be extremely bullish and could mark a long term bottom in ETHBTC. Giddyup!
ETHUSD has completed an bullish inside bar pattern on the 2 day and a bullish pin bar on the 4 day charts. If price is able to break out from here that could see price rally into the 240-280 level before reaching its next major resistance area.
LINKUSD has formed a bullish reversal pattern from key support increasing the chances that it heads up towards all time highs in the near future. LINK's relative strength versus BTC and ETH also makes it more likely that LINK will outperform the other 2 major cryptocurrency's in the near future.
ETHBTC has formed an Inside-Bar / Pin Bar pattern which could see this ratio move much higher once the highs of the mother candle are taken out. These patterns generally signify bullish consolidation of price and often precede bullish breakouts.
This pattern is in harmony with the very bullish pattern that has formed in BTC. If the BTCUSD pattern breaks out and...
A massive Inside Bar / Pin Bar Fakeout pattern has form on BTC's 2 month candlestick chart and has formed just on top of a critical trend line support level. These setups can be very powerful continuation signals. A break above the top of this candle could send BTC soaring up to its previous ATH and well beyond.
The SP500 has formed and confirmed a bearish H&S pattern after seeing price rejection at the very critical 2,600 support and resistance price level. If this pattern fully plays out we could see price drop back to at least the 2,200-2,300 level.
With the weekly candle closing a short while ago, it locked in a fairly bearish price action pattern. The pattern is a bearish Inside Bar/Pin Bar combo. This pattern would imply a greater probability that price continues its bearish trend. If price does break down in a major way then the next logical support zone is between $80-90. If that level were to give...