After what seems to of been months of consolidation, ETH is finally on the move, and very rapidly. IF we are able to smash through the resistance zone between 390 and 407 I believe this could send ETH into one of its' biggest bull runs yet. As you can see on the chart, it appears ETH has formed a giant ascending triangle. Now if the size of the triangle...
As you can see from the chart, ETH has been consolidating for some time now. Some analysis believe, the longer the consolidation, the larger the breakout potential. That is IF it ever happens.. Some key levels to watch out for are the 335 and the 338. Breaks in either of these levels could help ETH gain some very bullish momentum. IF we break BOTH of these...
As you can see from the chart, BTC has formed a double top! Which in this case I would call a double-top reversal. This is because we have already broken the neckline at 7538, which serves as confirmation. Now even though it appears we are moving up at this moment. I would be hesitant to say that this is the end of the correction. If you google double top...
Fool Me Twice, Shame on Me Due to the fact that Bitcoin once again failed to break 8k, there is a solid chance that it will start a retracement. IF BTC does in fact start this retracement, BCH may have a chance for a solid rebuttal! Judging by the chart, BCH is attempting to cross the downward trendline that was formed from its previous high of $2800. My...
Last afternoon, BTC broke the neckline of a double bottom. This is a very good sign for BTC, as it means the bottom may be in... for now. After further analysis, it appears we have formed a bullish pennant and a possible ascending triangle just above the previous neckline. This is a very common consolidation phase after breaking above a neckline. Therefore...
As we all know, ETH has seen very little action over the last month due to BTC stealing the show. However with the BTC fork craze nearing an end, I believe that ETH may have a chance for a move. As you can tell from the chart above it appears that ETH is starting to squeeze within a pennant. The BULL Cycle: IF we happen to break through top, I will be...
Once again BCH bounced off the .786, which has turned into a fantastic scalp. However, the key thing to watch out for is a break above this wedge. My plan of action: I have placed additional longs to trigger as soon as we have a candle close above the line. So watch closely! As a day trader, I will likely take support at each fib level that shows any form of...
POSSIBLE Cup & Handle formation. Entry is after a clean break of 2489. Stop/Loss after break, 2249. As you all know I rarely trade alts, however browsing through the market this morning I spotted this POSSIBILITY. It appears that the handle is still forming, so we could still dip lower! I'm setting an alarm and forgetting about it for now! I'll post here if...
For myself, geometry trading has proven to be my most effective strategy in the arsenal. To explain the chart above, each trendline represents possible support or resistance. Therefore, I will remain bullish as long as BTC remains above the solid white trendline. From that point, this becomes nothing other than a game of ladders. A break in one level generally...
During Bitcoins last retracement, the .5 fib level failed to break. Eventually leading us to the large leg up that we just witnessed. This was a very bullish move for BTC, as the downward trendine was now broken, and we have formed a higher high. Short term I am very BULLISH . I expect us to retest the top of the long term channel once again. However, I believe...
Once again we have a possible harmonic! If you followed me through my previous post you saw the completion of a smaller ABCD pattern which ended at point B of the smaller triangle. That then resulted in a push all the way up to 5900 area. So as long as we do not push past the $6020 mark, we have a set-up for another ABCD pattern! My plan of action: IF we fall...
Watch out, as history tends to repeat itself. I'm BULL until proven otherwise. DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
BTC has once again tested the top of its upward channel. As history tends to repeat itself, one must think we will see some sort of retracement at this level. However, during BTC's bull run in August, the bulls were actually able to push through the upward channel momentarily. This caused us to form the extended channel that we are now in. Meaning it is quite...
As I am writing this, BTC is nearing the ATH that so many of us have been anticipating. However I am unsure that the market is ready to sustain these new high levels. Now before I go any further I want to mention that this is only a theory of mine. Based entirely on my thoughts and understanding of the current market. It is nothing but an idea, that is right...
As many of you already know that BTCUSD has broken out of it's short term trendline. Generally this is an amazing signal for reversal, however, I am not convinced yet. False breakouts are one of the oldest tricks in the books. Market Makers use these to trick small fish into creating impulse positions, driving the price up or down and the volume up. The Market...
Over the recent days BTC has recovered nicely since our last dip to under $3,000. Many people believe that the bear trend is over, and the next stop is an ATH. However, I'm not entirely convinced yet. I believe that this market has been driven primarily by emotions the last couple days. Hence the massive selloff to under $3000, and then the instant panic buyback...
As you all know BTC just took a massive hit, driving it all the way down to my previous target of $3850. Many people are panicking at this point, however, I see this as a possible long opportunity. Here are my reasons why: The chart above shows a beautiful Gartley pattern, which IF holds true, we should see upward movement here soon. The ABCD pattern that I...
As you all can tell BTC has been very bullish over the last 24 hours. Slowing pushing its way upward to the .618 fib. However, buying into the .618 fib level is rarely a good idea. This is because the .618 fib is often a retracement point for a trend and as you can see, BTC is struggling to break this level. This indicates that an harmonic ABCD pattern may be...