After a significant bull run EOS been has consolidating for 3 days and while there's still lower higs in place, there are a couple good signs for continuation to the upside: declining bear volume as we go down, and the descending wedge formation which shows that on every dump, the price decreased less than the one before.
Right now the price action has found...
ETH is on a weekly equilibrium pattern of lower highs and higher lows ever since July 2017. This pattern can easily play out for 6-12 more months, when a break occurs it's likely to generate a massive rally or dump depending on the break direction.
The ascending wedge is a pattern in price action that has an uptrend with higher lows and higher highs, however the lines that connect the lows and the highs are tightening. This usually suggests that bull strength is running out, as every rally running toward the resistance is shorter lasting and moves less in terms of price action.
Ascending wedges can break to...
This is Bitcoin on the hourly! And now this is us on what I see as a multiple day long bearish pennant, a symmetrical triangle after a bearish move, that usually suggests follow through to the downside though it does sometimes break out bullish.
As you can see by the major support and resistance trend lines, this pennant is not the only space where we're pretty...
This is not predictive analysis and is provided for educational purposes only.
There is a small glimmer of hope for the bulls after this all out dump that lasted 3 days and change. After the initial oversold bounce and consolidation, we have set a higher low at 8516 compared to 8370 of the dump and we're seeing some bullish momentum on the short term. Volume is...
These are some exciting times for BTC, we have again rallied up to the downtrend channel that we've been in since the sky high of 20K. This is a telling moment: breaking out would be incredibly bullish and likely a good position to enter on a swing trade. On the other hand rejecting off this is going to send us back down (obviously), we have a couple support...
Despite a 4 hour RSI constantly extended over 70, bitcoin has been looking very strong up to the weekend. This was the case until the last push up where we had low bullish volume and formed a double top, which in my eyes constitutes an albeit very tall fake breakout of the key resistance of 10868, off of which we've rejected multiple times.
Drawn in the chart are...
After the bounce with massive bullish volume on BTC last week, we're still looking to consolidate that move and are forming a potential head&shoulders on the 4h. The dump afterwards may bounce off the uptrendline (purple) that's been support since July 2017. We're not bullish overall until we break the downtrend resistance from the second high of 17K (also purple).
After the dive down from blue sky highs XRP had struggled to keep momentum but is now looking more bullish than BTC, as it has broken over its downtrendline while BTC has not. 26 period EMA acting as support right now, the bulls need to hold that as we complete consolidation from the huge peak yesterday. An uptrend on the RSI suggests that this move upward cannot...
