The current momentum in the market is no doubt exciting. We’ve got institutional investors, Paypal, Micro strategy, you name all telling us ‘this is it’. I’m reminded of that ‘Michael Novogratz’ moment back in 2017 when he called $40k Bitcoin before his business lost $272.7 million. Point is, don’t listen. The moment you put them above you in the belief they are...
On the 3-day chart above a new candle will be printed on October 22nd (Thursday). We can see price action is currently rejecting the previous high with lower lows on all the oscillators (RSI, Stochastic RSI, & MFI), this is regular bearish divergence.
Two levels to watch (labelled above):
1) 3400 - a break here would make a very strong case for the double top...
Following an oversold condition (orange column) and near 50% correction since mid-August, the WRZ token is now showing a rotation is on the horizon. That facts of the daily chart above:
1) Regular bullish divergence - Lower lows in price action coincide with higher highs in the oscillators.
2) Price action has retraced to the golden ratio (0.786)
The 2-day chart for the above project just printed a Dragonfly DOJI following an oversold period with Stochastic RSI crossing up 20. In fact RSI, the Money Flow index, & Stochastic RSI were all oversold prior to the Dragonfly DOJI formation, a significant move to the upside should now be expected in the near term.
As risk / reward goes, it does not get any...
The above trend has been strong resistance since mid-August. Previous rejections resulted in a significant sell off.
How I'm playing it:
1) Waiting for confirmation. There'll always be opportunities. Don't FOMO, like so many are doing at this moment. If price action breaks above the resistance, terrific. Wait for the resistance trend line to be confirmed as...
The above 2-day chart is showing a price action breakout to the upside following a strong oversold condition. Stochastic RSI crosses above 20 at the same time a bullish engulfing candle is printed. Price action is below the major moving averages, a perfect buying location..
On the 1-day BTC chart we have a strong band to band transition from the bearish half to...
The above 1-day chart is indicating strong momentum with the printing of two candle with long tails following an oversold condition. In addition volume is strong.
There' is little to no history here to work with other than to say the probability of a good return in the near term is very probable.
The 2-day chart for nuls has a number of bullish signals difficult to ignore. They include:
1) 60% collapse in price action from early July to the golden ratio (swing high to swing low).
2) Oversold indicator (orange and dark orange) on RSI.
3) The Bitcoin chart is also oversold with support on the 21-day (for now!)
On the bearish side:
1) MFI resistance...
Strong support from the close of the 21-weekly candle, we now have a straight run to €12k to confirm resistance of the bearish rising wedge.
To confirm this is a short term move expected over the coming weeks. A bearish outlook continues to look likely beyond October when the stock market correction gets underway.
Not much history here to work with so can't say too much. However the swings in price action make it very appealing. On the 8hr chart above we can see a bullish divergence taking place between price action and the oscillators following an oversold period (orange column). These 'regular' divergencies are normally very reliable. Potential 30% gain to 1st...
On the daily chart there is a hidden bearish divergence (orange lines). HBD is defined as lower lows in price action with higher highs in the oscillators.
Additionally price action has entered the Gaussian strip following a bullish period, just as in March of this year. (orange circles)
The two targets on the daily chart I'm looking out for are:
*disclaimer* I don’t keep a position in this project so please do your own research. If you’d like updates on this TA, just leave a message below!
Following a healthy market correction of almost 50% price action finds support on the golden ratio (0.786).
Facts of the 1-day chart:
1) Stochastic RSI is oversold and indicating an increase in momentum. Bullish...
Little to no history on this DeFi project. However for such a small market capital there’s a surprising amount of volume changing hands.
Facts on the technical:
1) Following a 70% correction in price action, RSI was oversold (orange columns) and has now broken trend line resistance.
2) Regular bullish divergence. Falling price action diverges with rising MFI =...
RCN has now completed a correction to the golden ratio following confirmation of the head and shoulders pattern breakout back in June 10th resulting in a 55% correction in price action. The oversold period was end of July (dark orange vertical bar).
The resistance trend line (orange) following the breakout was recently broken and has now just been confirmed as...
My opinion on Dash is on request, I don’t actually hold.
Measuring probability of return versus risk of loss in combination with ‘looking left’ in the charts is how I’m making money. So I'm applying the same reasoning here with Dash. Would I open a position now? No is the short answer. My reasons:
The weekly chart - the facts:
1) Last week’s candle on the above...
A number of bullish indicators following an oversold condition (orange column) on the above 1-day chart. We have:
1) Following the oversold condition we have a Dragonfly DOJI candle indicating strong buying pressure.
2) MFI resistance is broken, can only go up from here.
3) Support on the 21-week moving average (green line) following a test by price action on...
Throughout the summer price action has enjoyed support from a well established support line since the correction in March. That trend line was broken yesterday and buyers were quick to catch the drop, which I suspect will continue in the days ahead.
1) Price action remains in a uptrend. Market structure remains intact as long as higher lows are...
The 10-day chart above is reminiscent Bitcoin trying to hold the $6k back in 2018 until its inevitable plummet.
Since December 2017 Litecoin has been making lower highs on the above chart. It needs to smash through $75 and stay there for the 10-day chart to show a trend change. $75 is the key number right now to watch.
With Lower highs, the trend is down and...