When $1.33 level broke on GRT last week, I was bracing for a freefall. To my surprise, it got support at the little tiny structure between $1.12 - $1.15 from early February. Now that we have a potential reversal, need to watch the fib levels carefully. Volume is a concern. This looks like a short squeeze, rather than strong buying. If it is a short squeeze, then...
BTC is currently getting a substantial bounce off the 100 Daily EMA. However, it is still too early to get excited. To keep the noise to a minimum zooming out to weekly scale. We need to keep an eye on the following: 1. The bounce from the VPVR demand zone cluster needs to be accompanied with some volume. The weekend bounce is not enough. This momentum needs to...
ADA is one of my favorite projects. Not just for its long term money making potential, but also for the way the project is trying to change the world. Do good while make money; can't go wrong with that! But, recently, everyone is getting too bullish on the price. Mind you, in the last year, ADA has seen a staggering 8000% gain, it is not unusual to see long form...
Well, folks, GRT's party got pooped on once again. Just when the breakout looked promising, it back in the rut again. But there are some silver linings to the massacre from yesterday. 1. Price held the primary support line $1.6 area. 2. The bounce brought the price back inside the previous consolidation area. The last consolidation area did not become a...
After the shenanigans from yesterday, it is a bit difficult to anticipate what will happen next. All the exchanges are out of whack right now, so the index is probably the better place to look for the clues. 1. Looking at lower timeframe we can see an ascending triangle being formed. It can also be interpreted as a bear flag. 2. Bollinger bands are narrowing to...
After hitting yet another all time high, BTC is once again getting a bit wobbly. Price has come down to test 21 day EMA again, which has been the primary support throughout the bull run. There have been a few breaches for a short time, but BTC has recovered pretty quickly to resume the upward trajectory. This time around, Bollinger bands are narrowing and...
On the weekly scale as long as BTC can hold above 59K and change, we will see yet again another all time high on the weekly closing basis. But this time around the move is looking to be just starting. Price is reaching the apex of the ascending triangle and prime to break out. If I draw out the Bollinger band top line at the trajectory it's in and match it up with...
This consolidation of GRT feels like dead money. Every time there is a breakout move, somehow it is getting squandered and back to where it started. But in the grand scheme of things, creating a solid market structure is very important for the long term health of the asset. In the last market cycle, most coins would hit the ground running and pump up 100x in a...
A couple of weeks back GRT was setting up for a major move which got spoiled by the market drop. Well, it is setting up once again. Looking pretty good as long as the market stays stable. If BTC keeps the boring sideways posturing for a few more days, it's going to be party time for Alts. Some might say the party already started with major Alts already making big...
ETH has had an all time high weekly close this week. This, along with a break out from the triangle formation is setting up the price for a melt up phase. Looking at the Bollinger bands formation and the posturing of the moving averages on the weekly scale the chart looks super bullish. However there are a few warning signs staring at our faces. Let's take a...
Things are looking shaky for the past few days. If we are wondering if ETH or crypto market as whole has peaked and headed towards a bear market, let's look at the data for a bit. Let's compare 2017/2018 market peak to today's price action. I did a comparison on BTC a few weeks ago, so I will look at ETH today. 1. First take a look at the parallel channels for...
We have an all time high again for BTC on the closing basis. Let's celebrate with some crystal ball hocus pocus. I have marked a few targets from various data points. I will watch for any opportunity to add more as market tries to reach those targets. As long as price stays above 45 k as daily closing, the bias is on the upside. I'll post a more technical view...
BTC price got an excellent bounce from the 50 Day EMA/SMA and regained 20 EMA. Even though the move looks great with a bullish engulfing candle, the volume is still below average. What needs to be monitored next is the smaller timeframe and higher low and higher high pattern. BTC price needs to move above 57500, preferably retest that level and then move up with...
BTC just tested 50 Day EMA and SMA and got support. Next major level to keep watch is the Green box of support. Essentially any daily close below 50 day SMA will be very bearish but since a major level of support is just below 50 K, I am willing to keep most of my position intact until price breaks below 47.5 k. This could turn into a classic fake out/bear trap as...
So we got a move, but not to the direction I was hoping for...BTC has taken a dive on Monday. Testing and spiking below 20 daily EMA. Even though, not too long ago, we have seen 20% range days without any substantial consequence, today a 5% drop means something significant. It's all about the price structure. If we see a daily close below 20 daily EMA, that may...
After a week of consolidation, BTC looks to be primed for a move. Price is still stuck in the resistance box, but the energy is building to the north side. Let's take a look: 1. Moving Averages: On the daily timeframe price is riding the 10 EMA. There were a couple of test to the 20 EMA and found strong support. Each day moving averages are gaining space, which...
BTC is trying to regain 10 Daily EMA and testing the upper line of the descending channel. Price pulled back right after hitting 51k level. The price posturing shows both bullish and bearish potential, so this could turn out to be a trap on both long and short end to shake out anyone looking for a scalp. Let's look at the price pattern. 1. Since Feb 22 drop, the...
After a month long consolidation, GRT is setting up for a move. This coin doesn't always move with BTC, but if BTC make a move towards new price discovery, GRT, along with other alts will most likely make move towards the same direction. Since Feb 12th high, GRT is moving within a downward channel, making lower highs and lower lows. The March 12th low could be...