I have been into crypto for nearly 4 years now and a keen student for Technical Analysis. I like publishing my thoughts as it helps me think through the process and maybe it will benefit others and me.
For now, this is only an idea, with no confirmation.
We all know that the top sloping resistance is most likely the MACRO level resistance as well, however how we approach it is also an opportunity and also a risk.
My gut feeling is we will have another consolidation just under the resistance for another imminent breakout, with 50/50% either way.
The next 4 hours...
Just keeping it short:
With a BEARISH Divergence looming in the background and the current trend is down, along with BTC Dominance to go higher, ETH has further downs to go.
4 HRLY Chart: Bearish (Hidden) Divergence.
Daily Chart: RSI supports the hypothesis
Keeping this post at the Macro level
There are a few things that we need to watch in order to gauge where we are at and what are we to watch\look for (to accepting that the continuation of the Bull trend is in play).
At the "Micro level" TA is still difficult and complex as many scenario's are in play. With...
Looking at the past week, it's obvious the BEARS have dominance and with a 20% drop...it showed how weak hands.
On the WEEKLY CHART, we have had 3 big rejections with LARGE wicks. This is a clear sign where things are, a pause on the bull run.
Hence it will take a lot longer for the bull trend to resume.
The RSI or momentum indicators show for the short term, a...
How to play this chart is difficult as many would agree.
Going long on BTC is not what this is about.
Taking the right steps at the right stage allows us to a) not miss out b) reduce risk\loss of $
Many people are bullish on BTC and so am I but this doesn't help for those who want to maximise their buy in.
So what information these people give us, so called...
BTC dominance has almost hit the 0.5 retracement fib level around the 68% mark.
The ALT dominance chart has not made much gain in the same move.
Stockatic RSI indicating over sold region, etc.
Factoring a random no. of ALTs and how they have reached key resistance levels coupled with BTC dropping to the buying zone\s, I would bet that...
On the weekly chart, BCH has been performing well and has reached the main resistance.
If the candle stick open and closes above this resistance, then the trend is confirmed bullish. 21 EMA acting support.
On the daily chart, BCH has moved up while BTC has dropped. If BTC was to drop further, it will be unlikely BCH will continue in the upside.
I'm a fan of ADA and as a project I feel it has large potential. The company structure, vision and openness give me trust that they are a professional team. Hence why I'm looking long term.
As all projects are speculative, some priced more than they should be, ADA might be one of those under-priced in the near future.
I might, if the price is right, use some of...
Just exploring the daily RSI's and it dawned on me the following chart:
Looking at how divergences effected the overall trend in the bear market and how we are doing now.
I haven't done the early stages of the bull run in 2015 to 2017, that would be next but its interesting as to how things look familiar.
Anyway, just sharing an idea... as time passes, we can...
There are some Fractal at play from 2017 bull run.
As per chart, we have a price that refuses to go down and consolidation taking place under a main resistance line.
Also some time back, I stated the level required to confirm its a bullish trend, open and closing on the daily to take it as a...
First - this is not my original idea however I agree.
There is a common trait when looking at the last bull run in 2017 and that had to do with 3 EMA\SMA's.
If you look at these 2 charts, you will see a sample from 2017 and today.
We have completed one section to meet this requirement which is the death cross. Now we need the other, which can be obtained by a...
We have now ruled out 2 scenario's and at this point (previous posting), I'm looking at the 12,500 as the next target, however I have concerns between this range above 12275 and below 12500. I have a fib ring that has made prices drop when this is touched.
With 13K being the main target.
Previous posting scenario's...
Its good to look at ALTs and see much further for them to drop.
Looking at the weekly and daily chart, the ALTs have past a critical level and will target the bottom of this channel.
This chart has both ALTs versus BTC (%) Dominance. No words required.
Regarding BTC, we are bullish on the MACRO level however the micro level is very complex and difficult for many TAs.
FOMO needs to be under control. Having said that, lets remind people about the ALT coins, don't be stupid and move away from BTC.
BTC trend has been dominant for a while and its the big market cap, the rest is not worth the risk.
This puzzle is very complicated and we can only can guess and share our ideas.
They all have a case to make, so which one do you think "is likely to happen?" Scenario A) or B) or C)?
Scenario A - Channel forming a large bull flag in a up trend.
Fib pitchfork supports this model.
The chart below is created as a fib channel and one can see, many of the...
Just making this short with key points as reminders:
> 10 EMA still not broken
> 21 EMA on daily and 50 EMA on the 4 HRLY still resistance
> We had the death cross and not the goldern cross. Refer to 2017 trend to see its relevance and the 100 daily EMA
> Trend is still downwards
> Smart money still waiting patiently indicated by volume (refer to previous volumes...