The bearishness seems coming to an end. Price is at support of a long-term falling wedge and the technicals are pulling out of overbought. Breakout of the technical trendline will start the process of breaking out of the falling wedge.
A lot of coins are setting up like this and after 7 weeks of red, I think the triangle will break out upward. The indicators are in a uptrend weighing more in favor of an upward move.
Breakdown from a multi-month rising wedge, weekly candle about to close in 6 hours. I suspect that it might retest the rising wedge or just keep going down to the two targets below. This analysis is just based on the pattern. Since the wedge is on the weekly, it holds weight. There are contraindicating signals in the market. Luna absorbed this week's drop and...
BTC reached the 2022 open which has been a remarkable support and forms a mid-range with 40K resistance. The OBV about to bounce of its channel support. The CCI is crossing its downtrend and moving out of oversold. A logical move is to 40k at the range and channel resistance. Break of the red trendline is very bearish.
BTC is due for a bounce in a bear flag formation. BTC is still midterm bearish as the OBV is downtrending and price below the 4H 200ema. It remains to be seen that price break the structures outlined for BTC to flip bullish.
Just having fun with this. We can see that price action is currently in a falling widening wedge. If Luna and UST are not delisted and if the MACD crosses up than we have a possibility of a breakout from the falling wedge. My first attempt at TAing UST worked. Let's see if we can extend our luck.
It is starting to be apparent that algorithm stable coins are toxic and verging on Ponzi schemes. I was not aware of UST, LUNA's based stable coin, until somebody pointed out to me that it is the reason that Luna is tanking. Although initially Luna was dropping because of weakness in the market, it probably triggered a run on the money for UST and the algorithm...
Been holding off this chart for a month not to hurt perma bulls. Perma bulls say it is impossible to drop that low. Nothing impossible, price remains within the rising channel and painting a repeating harmonic. There is also a CME gap at 11k which happens to be the 0.382 . Can price bounce of the channel midline and year open, yes possible. All depends on...
LUNA almost died today because of its UST stablecoin. I am trying to predict the next move. And I predict a move to previous support at $20. Sounds outrageous considering the utter failure of Luna's stable coin and absolute capitulation. But this is an exercise in technical analysis, we see CCI breaking out of its downtrend and the macd forming a bullish...
Broke down from a longterm rising channel, expecting a retest then a dump. Daily CCI clearly in a downtrend. Since LUNA is one of the best performing ALTs I expect that all alts will be bearish and BTC.d will rise.
The first in red broke down and it's first target is 3ok. The second rising wedge is in green, it might or might not break down. The paths are outlined in either cases. The Green rising wedge target is 11.44K there is a CME gap in the vicinity. Red rising wedge spotted by @Lucaland97 on twitter.
At the moment stocks don't seem to have the energy to breakdown from the longterm ascending channel. It is more probrable that we will see a double bottom and a bounce and a continuous to +5000$. If the index breaks down from the ascending channel then a market wide disaster is waiting to happen.
I am expecting a bounce from the recent dip. The bounce is not confirmed yet. Can draw a head and shoulders or make a new ATH, depends on the market. I don't expect a dump because 1H RSI forming bullish divergences, but OBV broke the trendline and maybe Luna topped for now.
Just a heads up, Luna forming a rising wedge. Rising wedges are bearish, but in extremely bullish markets rising wedges can break up in a blow off top. Luna have been performing exceptionally well, one of the few coins that established new ATH currently. OBV is in an ascending triangle, breakout direction will indicate trend. RSI is forming multiple bearish...
Broke upward from the symmetrical triangle. Now technically bullish above the 21 weekly EMA and 4H 200 ema. Measured move is 59.8k. Weekly RSI is uptrending. War is good for bitcoin I guess. Ukraine made cryptocurrency legal tender.
Stock will recover from their 3 month downtrend after bouncing off the ascending channel support which was confluent with the longterm widening cone. We see that RSI broke out strongly from its downward trend after printing very deep bullish divergences on the daily. I suspect that the Feds started reprinting giving the grim geopolitical events and the curbing...
after a robust pump, luna seems to be forming a bullish harmonic. Considering the weakness in the market, a pullback will not be surprising.
Market cap keeps getting rejected by the 4H 200 ema, below the 21 weekly ema. Consolidating in a distorted descending triangle wedged in the volume profile gap. RSI in a triangle, while CCI is more bearish below a descending trendline. A breakdown of the triangle will shave off 500 billion from the market.