ETH's breakout today has me taking a bit of a closer look at the 'bigger picture', as i see it. It appears that it may be starting its next leg up; and assuming the 80.60 low is bottom for the short term future, i could see it easily having enough momentum to double again from here. With Consensus approaching and this POS transition approaching, interest is sure...
So, i was studying the daily/weekly chart of the $SPX and thought to myself: this chart pattern looks familiar to me. I feel like I have seen this before in the not-to-distant past.
1. cruising along at market highs
2. bears take over and we see a ~10% correction
3. bulls resume control and take prices back towards prior highs
4. we fail to...
A buddy asked me to take a look at GVT today, and while this isn't a name that is typically on my radar, i am actually intrigued by this chart
Throughout the year, it has made a series of higher lows and lower highs finding itself in a wedge formation. It also followed a 50% retrace on the last major high to low. If we then use that retrace level as the high,...
was chatting with another trader today and got to talking about XRP weekly chart, then DOGE was mentioned...
just out of curiosity, i compared the 2. and i actually had to stop and do a double take.
Those weekly charts look quite similar and seems they each have big pamps at the same time.
Except for this time around currently, DOGE has yet to join the party....
For months, I have been watching the developing similarities between the 2014-15 bull run and subsequent drop, to the current one. Simply from a technical point of view. Not taking into any account the fundamental differences, or lack of, between then and now. This is simply a chart to chart comparison. When you line the 2 up, it is hard to argue the...
looking at CDT daily chart and we have seen a nice pullback into a prior range of support in the 230-260 area. It is also finding some recent support at its 99ma and its .236 fib line (75% retrace) from 150-530 range. the 99ma seems to be quite a widely watched indicator on binance coins.
entry: around 245ish
s/l: < 220 (-10%)
T1: 295 (+20%)
Just like several other of the altcoins with similar chart patterns, STORJ has closed red the last 5 consecutive daily candles and is down roughly 20% over that period. It finds itself back in the prior support range and like its odds of potentially showing a relief rally back towards prior support range in 4750-4850 to start; working its way up towards prior...
I am also looking at KEY as another one of those names that has seen a ton of consecutive red daily candles and have sold back to previous support ranges. In this case, KEY has seen 7 straight red closes, and 12 of last 14. Also at prior support range around 82-89ish and .236 fib line (75% retrace)
ideal entry: around 90
s/l : <81 (-10%)
T1: 100 ...
looking for $BCPT to possibly find some support in current areas and attempt some sort of relief rally. It has closed red for the last 12 daily candles; and finds itself back near prior support range. If we apply a fib line to its 1002 to its 2187 high; we can also see that it currently finds itself in the general area of its .236 line (75% retrace).
For months now i have been watching the similarities in BTC 0.29% 0.28% charts from the sustained bear market following 2014 highs to the current bear market.
Namely, I have been watching how price reacts with its 50 week moving averages.
If we line up the charts and compare the 2, it was about this time into the 2014-15 bear market that btc 0.29% 0.28% gave...
i am liking LEND here to continue its recent trend of bouncing off its 10 day EMA. i also like it ultimately test its 200 day EMA at my 4th target, offering a profit of roughly 30% from my targeted entry.
s/l : <305 -7.6%
T1: 365 +10.6%
T2: 385 +16.6%
T3: 405 + 22.7%
T4: 430 +30.3%
I like CMT here to reverse course and take another shot at 2000-2200ish sats. It has broken the down trend on its 4h chart, and while it has bounced a decent % off its 1400ish low, i still think there is pretty good upside left, especially if can get towards my latter targets
s/l: <1450 (-6.5%)
T1: 1650 +6.5%
T2: 1800 +16%
T3: 2000 +29%
In looking at my equal weighted BTC composite index, we can see that we are now in day 46 of this range as average volume is at its lowest point since last october.
I took total volume, expressed in $ across the 9 exchanges and applied a 3ma to the totals. As we can see with the price line on that indicator, volume on a 3-day rolling average has not been this...
In looking at BTC chart, this will be the 3rd time in the last 3 months that we have tested the 6k area.
the first time in late June we hit a low of 5750, bounced, re-tested the low (holding at 5780) before moving upwards away from 6000.
the second time in August, we see a pattern of 3 lower lows with the last being at 5870 before the bounce.
Now with those 2...