Hello traders, Looking at daily chart for Bitcoin, we start to see that daily consolidation has started. This morning, Bitcoin tested psychological $4000 level, but it was rejected with fairly high volume. What I see here is potential inverse head and shoulders formation in Bitcoin, and it is highly probable that Bitcoin will test $3800 once again. Here are...
Hello traders, As you recall from my last analysis, I mentioned that BNB retracement can initiate Bitcoin bull run, and it is exactly what happened. Looking at hourly chart I start to see some weakness in Bitcoin, and we may see some down trend in next few days. As much as I hate to say this, I am still somewhat bearish in Bitcoin because the volume is not as...
Hello traders, Those are few intense days in cryptocurrency market. Looking at the 4 hour chart, we see that Vechain broke out from the wedge pattern that lasted more than 50 days! There is a decent volume that supports the breakout, so Vechain will have some bullish momentum in next few days. Target are listed in the chart. It should be fairly...
Hello traders, I just opened new trade in XLMBTC. There are few trend reversal signals in the chart. Volume: Higher than MA volume in the daily MACD: crossover, bull divergence RSI: oversold, minor bull divergence Targets: 2500, 2900 Satoshi Stop loss: 2100 Satoshi This will be somewhat a long term trade (1-2 months). Happy trading!
Hello traders, Looking at the daily chart for BNBBTC, there was a monstrous rally since November last year despite Bitcoin bear breakout. I expect BNBBTC should retrace very soon as RSI is in oversold condition, and MACD is starting to curl downward. Unfortunately there are no supports from 20K to 25K satoshi, so it will most likely retraces 0.5 Fibonacci...
Hello traders, As you recall my previous analysis, I mentioned that the majority of marijuana stocks were overextended and the money will start flow in crypto sectors. Looking at the daily chart, it is evident that orange trendline is still acting as strong resistance. Currently, Bitcoin is trying to find support around $3650 (23.6% Fibonacci level), where we...
Hello traders, Looking at the daily chart for marijuana stock, WEED, we see that bulls are started to do profit taking. As a matter of fact, we see majority of marijuana stocks (CRON, N, ACB, APHA) just reached temporary top and looking to consolidate in next few days/weeks. What I want you to notice is that marijuana stock and bitcoin has inverse relation,...
Hello traders, Just quick heads up that Vechain/USDT pair is about to breakout. There is a nice bull flag, with high initial bull volume, followed by descending volume, which is a good sign for another breakout. Surpassing orange trendline with large volume will be the signal for the breakout. Initial target: 0.0051 Reward ratio: 4.63 Stop loss:...
Hello traders, Looking at daily chart, we see that Vechain just broke out from orange trendline, supported by large volume. Currently, Vechain is accumulating at blue trendline. In case of breakout, next selling target is 141 Satoshi, looking to get back in at 38.2% fib level (130 Satoshi), where we see a confluent layer of resistance. Stop loss: 119...
Hello traders, After that huge wick down to 104.75 on January 2nd, USD/JPY pair has been in the consolidation stage for 2 weeks now. Looking at the 4 hour chart, we see that USD/JPY found strong resistance at 0.5 Fib level (109.2), and it is forming a very nice tightening equilibrium. Breakout from 108.6 is a buy signal and 107.7 is a sell signal. (Further...
Hello traders, If you recall my previous analysis, I mentioned the possibility Bitcoin was running out of fuel and it could find support around $3800 region. If you thought Litecoin or binance coin leading the market, you are wrong. At the end of the day Bitcoin is still the king of cryptocurrency and it dictates how the market moves. Looking at the 4 hour...
Hello traders, Looking at hourly chart, Bitcoin seems to running out of fuel. Bitcoin tried to breakout from the neckline of macro-inverse head and shoulders, but there was no significant follow through. In past 24 hours, Bitcoin has been rejected from $4000 level multiple times, and there is potential head and shoulders pattern taking in place. Bears tried to...
Hello traders, Looking at 4 hour chart, Bitcoin is almost at the end of the right shoulders. Bitfinex will be having 7 hour long maintenance starting at 9am tomorrow, so I expect Bitcoin to enter accumulation phase. Key support: $3950, $3900 Key resistance: $4000, $4150, $4300, $4450 In case of bull breakout, the target will be $4450. In case of bearish...
Happy new year! Looking at 4-hour chart, Bitcoin has established solid support around $3650 and we saw good bounce with decent volume. There is a potential inverse head and shoulder pattern as well as bull flag in play, but there are few resistances that needs to be broken before the take off (green boxes and orange trendline). Currently, Bitcoin is at $3800...
Hello traders, If you recall from my analysis, I mentioned the possibility of Bitcoin losing momentum since $3900, and finally we had healthy corrections. Looking at the daily chart, we see that Bitcoin is trying to find support at green box region as we saw strong resistance in early December. This also corresponds to 50% fibonacci level as well so I expect...
Hello traders, If you recall from my last analysis, I mentioned the possibility of trend reversal, and we had a good bull run for a week :) Looking at 4 hour chart, there are several signs of weakness: 1) Bitcoin bounced at 38.2% fibonacci level, and currently is challenging 23.6% level. If Bitcoin finds resistance at 23.6%, it needs to test 38.2% again. 2)...
Hello traders, Looking at the 4 hour chart for Bitcoin, we start to see large buying volume. However, there are MANY resistances ahead of us, so here I will be starting to do few short-term tradings: 1) First resistance will be around $3600-$3700 area. We saw double bottom formation on Nov 25th, and Nov 27th, but it was rejected on December 6th, and confirmed...
Hello traders, I am not even getting into cryptocurrency anymore unless Bitcoin goes above $6650. So while I am waiting, I invested some of my portfolio into AKER. To be honest, I have no idea what they do, but the chart looks very promising. Looking at weekly chart for AKER, we see that there were almost 10 months of bear market, and we see that clear trend...