On the above 1-day chart price action has corrected 60%. A ‘incredible buy’ opportunity now exists. Why bullish? 1) Price action resistance makes a breakout (blue diagonal line) 2) Regular bullish divergence between the oscillators and price action. In fact there are now 10 oscillators diverging with price action. Incredible. Look left. 3) RSI resistance...
*investment opportunity - risky ~$40m market capital* Happy with the risk? Shown on the above 10-day chart price action has dropped 99% since May 2015 with a 1:14 reverse split in July 2019, price action is severely depressed. A ‘incredible buy’ opportunity was illuminated in early 2018, however price action resistance continued. That resistance recently broke...
*investment opportunity - risky <$20m market capital* 10+ years of falling price action, an oversold condition (orange column), and now a weekly cross on the above 10-day chart. So many reasons to be bullish on this stock. Let’s go through them. 1) Following a regular bullish divergence the 21-week (green line) crosses the 50-week moving average with price...
The interest in going short on Bitcoin is gathering momentum. Social media, tweets you name it - especially around he $42k region. You'd think after the recent 'short squeeze', short sellers would have learnt their lesson. Hey ho. This is what I'm seeing on the above 1-day chart: 1) Price action (unexpectedly) begins testing the upper Gaussian band channel. I...
I’m told bitcoin is in a bear market. Technically that is correct. Does that mean you can’t make money? No, absolutely not. I don’t know how many folks study the 2-day chart so keep it a secret. The 200-day SMA (red) and 50-day SMA (blue) are shown above as Bitcoin entered a bear market. Now remember this is a 2-day chart so each of those SMA’s are really over...
July 27th - one way or another something significant will happen The Gaussian channel is a lesser used overlay but nonetheless remarkably powerful. You need only look left. The channel either offers fantastic support when the upper side of the channel is tested or heinous resistance on underside testing. Right now, on the above 1-day chart, the underside of the...
A lot of PM’s on Bitcoin with regards to price action, is it going lower? Is it over? That sort or stuff. No. I couldn’t be more bullish. Yes, price may flash down to $28-30k area, but it is irrelevant. This is not my opinion, these are the facts of the chart: 1) On the above 1-day chart multiple points of RSI resistance were tested and confirmed. Resistance is...
A incredible 90% drop in price action since May 1st with multiple oversold conditions (orange columns), there now exists an ‘incredible buy’ opportunity. Price action has been trading within a falling wedge pattern and is fast approaching the apex, a breakout is imminent. Without going through them all there is currently six oscillators showing bullish divergence...
Statistics / stochastic processes fascinate me and the above statistic is worthy of some attention. In case you’re not familiar with Stochastic RSI, it is a ‘oscillator’ (circled in green) of the RSI oscillator. You read that correctly, an oscillator of an oscillator. Therefore it naturally lags the RSI measurement. The Stochastic RSI oscillator is there to do...
On the above 1-day chart price action has broken out from over 140 days of resistance (orange trend line) following a 85% drop in price action. Previously several oversold conditions (orange columns) have existed however a long position was not possible until price action resistance was broken. That is now in the past. Following the break of resistance price...
Since Binance was how should I say ‘restricted’ from offering its services within the UK something odd occurred. UK based traders / investors went to fully regulated exchange, EXMO. Since the restriction traders have been paying a $600 premium (the purple line) over base price (orange line). Now while this sucks for UK based users, it is an arbitrage opportunity...
Is that a triple top?! Not seen one of those in a while... which creates the bearish 'W' top formation. Perhaps people are thinking of using the shops again rather than Amazon. Oscillators are diverging quick and fast with price action. Jeff Bezos Sells One Million Amazon Shares Worth $3.1 Billion www.forbes.com Although I think a more apt title would be, Jeff...
On the above 3-month chart price action is now trading 2700% above the 2009 lows. The potential for further upside is increasingly limited following the overbought condition (green column) with following regular bearish divergence. On the 10-day chart below a trend line offering support since 2012 has recently became resistance following the breakout and back...
The above 3-day chart is fascinating. So much going on. Two dates, March 10th 2020 and October 18th 2020. On both occasions price action touched support and reacted with explosive movements to the upside, 145% and 460%, respectively. Price action is now approaching the same trend line within a bullish falling wedge pattern. Support is expected to be tested by...
Bearish spinning top candle confirmation. 1979 - RSI @ 85 65% drop followed 2008 - RSI 85 30% drop followed Today - RSI 85 %?? Gold bearish divergence? If price action prints a bearish candle next month on the 3-month chart below that would open the possibility to a massive collapse in gold price. Especially true if we enter a deflationary period by the year's end.
Price action breaks through the neckline of the head and shoulders pattern on the above 4-day chart confirming it as resistance at the same time the 21-week EMA fails to act as support (yellow line). Lastly RSI drops below 50 (green circle) following the overbought condition (green column), it is now very probable price action bleeds against Ethereum in the weeks...
After a crash of near 50% is a further crash coming? On the above daily chart there is a worrisome head and shoulders pattern on the alt coin market total. That is the total value of all crypto assets except for Bitcoin. The bearish: 1) RSI is below 50 (circled in green). The longer it stays there the longer the market bleeds. 2) For the Head and shoulders...
A regular bullish divergence emerges as the death cross* approaches on the above daily chart following an exact 50% correction in price action. On the 2-day chart below price action lands on the 2-day / 21-week SMA (green line) (actually 42-weeks of data). I use this ratio for a cleaner signal. In the past this SMA has offered strong support - look left. A new...