CryptoRush_

CryptoRush_

The current situation: 1. Price action broke out of the smaller symmetrical triangle that should have been a continuation of the breakout of the larger symmetrical triangle on 9/9. The next level of resistance is the 6HR 50 moving average currently sitting at about 1.35 2. On the daily chart, it seems more apparent to me that this is indeed the recovery and I...

CryptoRush_

The bullish case: 1. Market structure: price action broke out of a bigger symmetrical triangle on 9/9 but has still yet to be reached as there are still quite a bit resistance levels to get over. Price action is now apparently in a smaller bullish symmetrical triangle, which has a 60% chance of breaking upwards. The level it needs to break out of in order for...

CryptoRush_

The current situation: 1. Market structure: price action has been trying to break out of a double-bottom pattern that is most apparent on the 4HR chart. The neckline of the pattern is at about 10.5K and the measured target of the breakout is at about 11.1K. Currently, the 12HR 21 moving average is acting as resistance at about 10.4K. The next moving average that...

CryptoRush_

The bullish case: 1. Market structure: price action previously broke out of a double bottom pattern with a price target of about 390. That target has yet to be met but it has gotten through some notable levels of resistance since yesterday, including the 1HR 21, 50 and 200 moving average along with the 4HR 50 moving average, which is about to be UP crossed by the...

CryptoRush_ Updated 

The bullish case: 1. There is a double bottom apparent on the 4HR chart, of which its neckline is currently at about 360 USD and its breakout target is at about 390. A breakout above 360 will be a convincing indicator to me that more upward price action is expected. BTC dominance is also currently trending down below all moving averages, which could also be a...

CryptoRush_ Updated 

The bullish case: 1. Market structure: a double bottom is apparent on the 4HR chart with the neckline at about 10.5K and the measured target at about 11.1K. The 1HR 200 moving average, 4HR 50 moving average and 12HR 21 moving average are acting as resistance levels so I do not expect a smooth breakout to the upside even if the pattern breaks out. 2. Volume: on...

CryptoRush_ Updated 

The current situation: 1. Market structure: price action has previously broken out of a double-bottom pattern with the measured target to be about 390 USD. The 1HR 21 moving average has just crossed the 200 moving average for the first time since the dump on Sept 1st, which is a good sign of reversal. There are several moving averages on the 4, 6 and 12HR that...

CryptoRush_ Updated 

The bearish case: 1. There is currently a complex head and shoulders pattern that seems to be forming on the 1HR chart and a head shoulders pattern forming on the 4HR chart. What it almost looked like a breakdown of the pattern was supported by the 4HR 50 moving average that was at about 375. If price price action on the 4HR chart closes below the 50 moving...

CryptoRush_ Updated 

The bearish case: 1. Price action is currently in a symmetrical triangle pattern, which continues in the direction it started at 60% so more downward action is expected by chance. Currently, the price action has not bounced off the 21 weekly moving average, which is at about 1.2 right now. The measured move of the breakdown is about 0.75USD. 2. Bitcoin dominance...

CryptoRush_ Updated 

Current Situation: 1. Market Structure: broke out of a bearish symmetrical triangle and now it has a measured move of about 1.6 USD. There are still quite a bit of moving averages and the previous support now resistance of about 1.25. BTC dominance currently is under all moving averages on the major timeframes up to the weekly, which could be a good signal for...

CryptoRush_ Updated 

The bullish case: 1. Market structure: an inverse head and shoulders is apparent on the 15min chart, with a downward sloping neckline so far and the measured move depending on the breakout point is about 10.7K. 2. RSI: there is bullish divergence on charts from the 1HR, 4HR, 6HR, 12HR to 1D charts. The bearish case: 1. The closest levels of resistance to get...

CryptoRush_ Updated 

The bearish case: 1. A head and shoulders pattern is apparent on the 15min chart. The level to watch out for is 315, which is the neckline. If this level breaks, I would expect more downward price action where the measured move is about 295 USD, with the closest level of support being the 12HR 200 moving average, which is currently sitting at about 300. 2. On...

CryptoRush_ Updated 

The bullish case: 1. An inverse and head shoulders pattern is apparent on the 1HR chart. The neckline to break is at about 360 and the measured move if it breaks out is about 390. 2. There is also a bearish retest in the bitcoin dominance chart of the daily 21 moving average. If it gets rejected at the daily 21, we should expect some bullish price action out of...

CryptoRush_ Updated 

The bullish case: 1. Market structure: the inverse head and shoulders along with the ascending triangle pattern is still holding. But the price action is currently near the bottom trend line so I would keep a close eye out on it. 2. Volume: seller volume has decreased and is most apparent on the 4 and 6HR timeframe, This could be the signal for a trend reversal...

CryptoRush_ Updated 

Current Scenario: 1. Market structure: price action is currently in a rectangle pattern, which is a neutral pattern so it can go either way. The weekly 21 moving average is currently at 1.19 USD, which is about right underneath the bottom trend line right now, which should confirm that the bottom trend line can temporarily serve as support. 2. Volume: there is...

CryptoRush_ Updated 

A head and shoulders pattern on 15M chart is apparent. The bearish case: 1. Market structure: the price action breaks the neckline which is currently at about 375 USD and the measured move of the breakdown will be about 350. The closest level of support to the measured move is the 6HR 200 moving average, which can possibly be seen as support on the way down....

CryptoRush_ Updated 

The Bullish Case: 1. Market Structure: price action looks like it will range in the rising channel above 11.5K until we hit the next level of resistance at 14K 2. Volume: it looks like we may be getting more buyer volume since we have bounced back from 11.1K last week if we extrapolate this week's volume to the end of the week. It is a confirming signal for a...

CryptoRush_ Updated 

ETHUSD has been on a making gains for the past 5 days going from about 380 to 490. I am predicting a decent pullback for the next few days while still maintaining a bullish prediction afterwards. The bearish case: 1. Market structure: price action got rejected at about 490 USD and did not catch a bounce at the 21 hourly moving average, which is usually the...