Pattern: Symmetrical price action on 1W. Signal: Bullish after the consolidation zone (0.00000164 - 0.00000226) broke and the rise is symmetrical to the respective decline of the bear market. Target: Short term = 0.00000410 - 0.00000455, Long term = 0.00000725 - 0.00000800.
We all know WTI oil is bullish. It has been so since the violent bottom last December. The question is where it is better to buy? Two scenarios: 1. The former Higher High Resistance (red line) has become a Support and the 1D Channel Up breaks aggressively upwards. So far it has provided support twice. 2. The 1D Channel Up pulls back and makes a Higher Low near...
Pattern: 1D Bullish Channel. Signal: Bearish after the Double Top rejection on 1D. Target: 6.55000 (above the Support Zone).
Pattern: 1D Ascending Triangle. Signal: Bearish as the price was rejected inside the 1D Resistance Zone. Target: 3.7700 (expected Higher Low).
Pattern: 1D Ascending Triangle. Signal: Bullish as a Higher Low is established. Target: 4.5600 (just below the 1D Resistance Zone).
Pattern: Channel Up on 1D. Signal: Bullish if then price pulls back near 1.8900. Target: 1.9800 (projected Higher High of the pattern).
Don't get carried away by the recent price action. XRP is simply copying the pattern of the 2015/ 2016 cycle. Based on that we less than 5 months away from the next mega bullish break out that has first target the previous All Time High. Keep it simple. It is a cyclical process.
Ethereum is close to a 3rd test of the 168.50 1D Resistance. If it is crossed, then the 1D Triangle is broken and the price should target the next 1W Resistance at 250.50. Buy on the break out. My long term outlook:
Pattern: 1D Triangle. Signal: Bullish as the price has rebounded on a Higher Low. Also the 1D Support Zone is just below. Target: 1310 (Lower High). If the Triangle breaks higher then 1321 and 1345 can be used as extensions.
Sometimes it is best to keep it simple. If Bitcoin's previous cycle (2014/2015) is the guide, then we are at the point where the 9M MA was just crossed. What happened next is the last strong pull back before the new bull market began. Will it repeat the same pattern?
Pattern: 4H Channel Down. Signal: Bearish after a Lower High was made yesterday. Target: 2.641 (estimated Lower Low).
Pattern: Resistance Support. Signal: Bullish if 145.500 breaks or if the 143.770 1D Support is tested again. Target: 146.500 4H Resistance.
Using the NVT indicator it appears that Bitcoin is taking off too soon. Primarily because the recent December bottom was higher than the March low of the indicator. As opposed to the previous bear market where both lows hit a 50 - 55 score. Currently there is a fine gap between that score and Bitcoin's present price. Also the bullish sequence since the end of...
Pattern: 1W Channel Down. Signal: Bearish as the price is entering the Lower High zone. Target: TP(1) 317.650, TP(2) 312.000.
Pattern: 4H Channel Down. Signal: Bearish after a new rejection on the Lower High. Target: 1.28500 (1D Support).
Pattern: Head and Shoulders on 1D. Signals: Bearish as the price touched the 1W Resistance Zone. Target: 95.95 (1W Support Zone).
I have put today price action side by side with the September - October 2018 price action. The candle flow is very similar and what follows next scary indeed. If we see similar development in the first week of April (the candle sequence in the eclipse), the we should get out of stocks! I don't need to mention that what followed was the strongest correction since...
EOS is looking good within its 1D Ascending Triangle. While the recent rally started by the bullish comments of Dan Lerimer (EOS CTO), more positive fundamentals kicked in (Bitfinex launching Eosfinex) and the $4.00 level can be turned into a support. Such strong spikes since February have most of the times turned into sideways trading until the next one (hence...