Hello friends and true believers.
What a lovely day. Alt season is upon us, the money is flowing like it ought to, and looks like it might be for a long time coming.
There will be sell days of course, where the market seems to drop, but as we've seen this year, once momentum gets going it usually runs for at least a month before major stoppage.
BTC Weekly chart is looking like we're shaping up to retrace short term.
Covid 19? Stock crash? You pick the panic, people will sell at this level and who will buy in the top 10% when we know there's a sell wall @ 20k like nothing else in the crypto world.
I noted an evening star Potentially forming. This weeks candle is very young so don't take this as...
Now HERE is a textbook example of a Cup and Handle that's about to end. I mean if you want to learn some basic trading, here it is.
Cup and handle is a formation that's represented by a U shaped recovery or the cup, followed by a consolidation period representing the handle.
Then we go up
We've been in a historic accumulation area for weeks now.
KEY, my favourite moon-shot, posted it's biggest volume week in some time - doubling last weeks volume.
KEY is a really interesting project, from their website, selfkey.org: Start a new business, open a new bank account, or get documents notarized through the SelfKey Marketplace. Powered by the KEY token and priced against USD, the SelfKey Marketplace provides...
I've covered OMG a few times: classic bullflag coin that sits and does nothing before blowing everyones mind for a week and then disappointing everyone who bought in at the top over the new few weeks. "it'll come back up don't worry!" yeah in 6 months - 1 year.
Couple of huge similarities are showing up with the last time we went to the moon:
RSI has been...
YFI, everyone's favorite anomaly, is testing it's newly formed upward channel and the high liquidity area that has lead to multiple bounces in the past uptrend.
MACD is still bullish, though weakening ever so slightly. priority is still up.
RSI just left overbought, position is strong.
This could potentially be a good opportunity to get in on the next leg up,...
BTC resistance is holding fairly steady it seems.
Looks like an H/S forming on hourly charts. We're do for a correction anyway. with 20k being literally right there.
A drop now means less correction once BTC hits it's summit. But still, beware the weekend dumperino.
BTC has stopped it's meteoric rise for the day at least. We see a clear consolidation wedge appearing on shorter time frame charts.
RSI is still strong but does have room to drop if it wants.
MACD just gave us our first bear cross in a while, given our distance from all notable EMA's this is potential for a short term correction.
Most notable element has been...
BTC has been making our dreams come true, hitting targets and seems to be on it's way to a new ATH.
We're seeing the typical volume decline on the weekend after conquering the 16k level. We're also seeing some retests today of the sub 16k level holding so far.
As usual, I wouldn't be surprised if we get a bit of a shakeout. Support is definitely building with...
BTC is still sitting in the consolidation triangle I spoke of on Monday. Now we're getting deep into the triangle; as noted on the chart this area is not good for a breakout generally. The psychology of the market changes as consolidation lengthens, and in this case we have seen a big sell wall pop up at as our new upper resistance.
Volume has completely tanked...
We saw a retest of the upper level of the consolidation triangle, followed by a swift rejection and heavy sell volume . Bearish sign?
Current upward support line is also EMA 50. Bullish sign?
We seem to be in a bit of gridlock. Signals going both ways, short term looks slightly more bearish than bullish with the heavy sell volume on the breakout retest. That...
Looking at the BTC 4H chart, we're seeing a lot of price consolidation over the weekend.
I expected more of a dump to take place than did this weekend, however the liquidity is building on the market clearly.
That said, the biggest volume spike was our red candle dip. Other than that weak volume since the pump.
I reckon we'll get a big price move tomorrow....
Looking at OMG on the daily Chart, there's some interesting things potentially shaping up.
Most obvious is the descending triangle we've been trading in. OMG trades on a bullflag historically; which is characterized by a long period of sideways or slightly descending movement followed by a massive pump.
We see a fairly recent retest of bottom support in late...
Looking at XRP 8H chart, we see heavy resistance in the 25 cent range over the past while, keeping us in an upward channel.
We are currently overbought on RSI, and we just saw resistance at EMA 200, with shorter EMA's falling below EMA 200 currently.
Bottom support is already broken. Meaning potentially a large dump if it can retest lows.
This is happening...
Looking at BNB on the weekly chart, I think we're good for a correction down from where we're at to around the $20 level. Which is good because I am running low and trading fees are the bane of my existence.
We see an upward channel, but lower highs with a resistance retest in late October could overcome the September high.
We've been in oversold forever it...
ALGO looks to be maxing out on it's bounce @ .5 fib, right around EMA 50 on the hourly.
This area marks previous support, if it turns resistance expect a correction down. This is also right around the down trend line. If we don't see a big price move upwards from here that's trouble short term.
Watch how it breaks from this point and move accordingly. Volume has...
Seeing price consolidation at the upper level of the downward trend line for LINK.
Wait for breakout direction and play it accordingly.
Priority seems to be down at the moment; key support was broken and volume hasn't been crazy on the bounce off current support. I expect a retest of current support at some point soon.
Stoch is bordering overbought, MACD is...