Price action is nearing the bottom of the parallel channel from top 1-3
On H4 and H1 I can see price grinding a bit lower the rest of the day, toward 7500-7600. Personally I'm not interested in that move, it's only a few pips away.
At which point we should see a bullish divergence on smaller time frame
I'm not expecting a squeeze from here, shorts are too...
Here is an answer.
Many are asking why aren't Etherum and altcoin moving with BTC
While prices seem to mostly follow the same line, some subtle difference can have huge consequences
This is exclusively from a TA stand-point.
Notice how BTC allow for ETH a second chance at a failed pattern
And how that same failure was due to BTC correcting after completing it's...
Everyone is looking up so it's time to look the other way.
Yes, we definitely have room for one more move up
1) the why :
We have a double top on stoch --> hidden bearish div
RSI is overbought on the daily, printing a lower low on H4 and H2 -->bearish div
MAcd is doing the same, we have a spike that confirm the count of wave iii on H4, while the daily is...
ADA has double top
Evening star on daily
Printing lower low on RSI
Stoch is bearish, waiting for a lower high to enter
Retest of red support as resistance
Target 1 & 2 in black
ADABTC target 0.00002211
Ending diagonal often mark the end of the trend
Ending diagonal often correct to at least fib 0.5
As price printed lower low, macd has been printing higher low, 3 times, one touch for every subwave
This shows how long "bullish divergence" can keep on going without producing a reversal.
It also confirm the diagonal triangle, in which subwave 3 and 5 are meant to...
The squeeze i mentioned a few days ago finally happened.
Let's start with indicators :
Stochastic, have form a lower high, this suggest right now is a bad entry, it's the most negative indicator to look at right now
RSI hasn't yet, it's overbought, but it has room to go, i'd like to see it reset toward the blue arrow before considering an entry, but it has room...
For starter, i feel like i've been wrong with my read of this entire down move -my reversal points were off
So this isn't much of analysis, more a warning, we might be setting up for a squeeze, be ready in case it happens
The safety net is near.
Unlike BTC or Eth, LTC has fully corrected the move up.
There is little to no room to go.
Let's remember that back in 2013 LTC made a high (top of wave I in the supercyle) at 65, this shouldn't be overlap.
While going up price was following a leading diagonal, usual those correct to fib 0.5, this is a bit harsh of a correction for a wave...
We have a very shallow parallel channel from the top of the up-move
A very steep descending channel from that last down move
And a more shallow descending channel (from top of 5 to b, and starting at the bottom of 4)
They are intersecting in the mid 6200 (around 6260)
2) support and resistance
6450 was our main support, it had hold several attempt, now a...
RSI just confirmed the breakout,
Most indicators are now reset, so there isn't much else to say
I have 3 TP above where price might turn
Looking at alts such as IOTA, BCH an XRP, i'd say wave 3 was probably the top of wave 1, this count would bring us to the target on top
we have be making lower high and lower low on both RSI and MACD
this confirm the ED (rising wedge) idea
We have the obvious inverted head and shoulder, it's located right under a supply zone, ideal position for a fakeout setup and a sharp drop
this also confirm the ED idea
We are now very far from both baseline, and a...
1) Trend analysis
We have the descending channel of the downtrend
We had the rising channel of the swing high
And we've just established a new base channel
2)Support and resistance
We have tested 480 twice and failed both time, it's the LAST resistance on our way out of the downtrend
We have confirmed 450 as a support, if this level break... Well...
Unlike BTC, ETH didn't make a new low, as a result, so far it has been outperformed by both BTC and alts.
But also, the downtrend range has been more narrow for ETH, and is now a few $$$ away from the breakout point.
Indicator are looking good, RSI isn't overbought but in bullish territory, there is a bullish divergence still.
MACD has turned positive, has a HUGE...