In the chart above, you'll see that every time BTC closed above a long daily trendline and had a successful retest, it almost always has gone up. As you can see, the retest appears to be successful and up is the next step. The next local obstacle seems to be the 30 day moving average which BTC is currently above. If the price is able to close the day above the 30...
Binance Coin (BNB) started forming a bullish failing wedge around June and it appears likely to exit soon according to the Elliot Waves I drew below. The last two ideas I had regarding a failing wedge for ETH and XMR both went very well. As you can see on these two previous ideas below, you have to wait for it to breakout above the failing wedge and then come...
Tilray has reached the apex of a symmetrical triangle and is ready to move. Stoch, ADX and OsMA are saying down, but I wouldn't take a position until there is a clear break. This could go either way, but I assume the move will be pretty substantial.
ETH will soon be testing the all-time-high trend line. If it manages to break through the top green line of the failing wedge, expect a retest of this top line before moving upward in earnest. The ideal entry would be as close to the top of the failing wedge line as possible on the retest. If a retest doesn't happen, then enter after the next correction. Side...
First off I want to say that I agree, $0.03 is an outrageous target. However, when doing technical analysis, you're suppose to leave out all feelings and fundamentals. I believe that XLM should be one of the top coins and above $1.00, especially when fundamentally compared to the other coins out there. I've tried to follow my feelings and fundamentals in the...
As you can see, Bitcoin is currently in a bearish rising wedge pattern (see green highlighted green triangle). These patterns are bearish and usually break to the bottom side of the pattern. The target is approximately $5,800. This target is derived by measuring the height of the rising wedge from the start to the lowest point, which happens to be 10%. This is a...
Below are 3 signs that signaled a reversal for Bitcoin. I'm presenting this more for education use than a prediction as I believe this rally will likely be short lived. See my other ideas for my long term analysis. 1) In the first chart, you'll see how I was able to use Elliot Waves to predict when Bitcoin might exit the downward facing wedge-ish channel. When...
As you can see in the chart, OILU 3x Crude Oil ETF is approaching the bottom trendline on the log chart. Usually we'll see a bounce here, if not, keep your stop loss close.
Bitcoin is currently at the apex of what appears to be a symmetrical triangle and/or bull pennant. I believe we are likely to break to the upside, but I wouldn't assume a position until we break to one side or the other in earnest. As you can see BTC has respected the long term downward trendline which is now support (dashed cyan) and also a local upward...
Tesla is currently testing a supporting trendline from 2016. Buy as close or below the trendline as possible to minimize your risk.
Personally I believe the fundamentals for Bitcoin have never been stronger, but unfortunately in my opinion, there has been a strong divergence between fundamentals and what the chart shows and this gap doesn't seem to be closing. As you can see this year, Bitcoin's price has already been suppressed 3 times by the 200 day moving average (30 week ma). If this...
As a general rule, you should not consider hodling any asset that is below the 30 week moving average, the same applies here to Bitcoin. Until Bitcoin is able to cross over the 30 week moving average, expect the overall momentum to be downward and all bull rallies to fail at or before the point of the 30 week moving average. When/if we close above the 30 week...
ZRX is currently touching an upward trendline that started back in January. This is an opportunity to go long with a close stop loss. If this line breaks, except a rather huge drop, but given the history I would say it's likely to hold.
Bitcoin is currently in a bullish trend and creating a failing wedge pattern. The target here is the height of the wedge, which should bring us to approximately $8,500 again if it breaks to the upside. An ideal entry would be the bottom of the channel at ~$8,100 or so.
As you can see in the chart, the selling has continued to slow since the initial sell off @19.8k This doesn't mean that Bitcoin cannot go lower, however the trend is indicating that a reversal may be near.
Bitcoin is currently testing the 30 day moving average. If we're able to close the day above the 30 day moving average line (purple), this should confirm a short uptrend. Usually when Bitcoin is below the 30 day moving average for at least 30 days, and then closes above it, we usually see gains thereafter as shown in the chart. We still need to close the week...
In my previous ideas I've mentioned that we are in a descending triangle and we're at the apex of it. At this very moment, we have broken out above the descending triangle HOWEVER the breakout is NOT confirmed. Just like how we broke to the downside of the triangle two days ago and everyone declared Bitcoin dead, we ended up going right back into it and breaking...
I flipped the Bitcoin chart upside-down to provide a different perspective. This isn't exactly a hypothesis that I subscribe to but I think we can certainly see that the selling momentum is at least slowing. I'm still waiting to see which way we break out of the descending triangle before making a move, but I thought this perspective might interest a few. To...