Magic-Charts

Magic-Charts

It’s been a tough run for the bulls as of late, but it looks like they may have a chance here to push it up to 48k for the short term. Price action has been testing the 12hr support around 41.6k since Jan 16th 2022. If we can form a solid bottom here the bulls should be able to push up towards 43k and then make a move towards 48k. Current options “max pain” data...

Magic-Charts

NASDAQ:TSLA has seen some explosive growth recently, but this week we’ve seen news of Elon selling affecting the stock along with some other events that have hurt the Nasdaq at times. What are we looking at for the foreseeable future? Looking at the weekly chart, there are a few possible scenarios playing out: 1. A Brand New ATH 1. It looks like it could...

Magic-Charts

BITFINEX:ETCUSD Looks to be in very healthy shape to make a move up towards the $62usd level within the next few days. We appear to have come down and tested resistance on the daily (yellow) and have also bounced off of the diverging RSI trending (green) towards our upwards target. In order to maintain momentum and reach the goal we will need to open above...

Magic-Charts

Regardless, I believe we’re in a bullish scenario and will see NASDAQ:TSLA rise higher, but short term, I believe next week that it’s got a small decision to make. Does it short term stay in it’s current range, does it drop down around the 7th for a possible wick around the $747/750 area? Currently the RSI on the daily chart is in a place that could support...

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It looks like Rocket Lab may still have some fuel in the tank. Following along the current fib and RSI position, it looks like it may reach the $16.40USD mark tomorrow.

Magic-Charts

OANDA:WHEATUSD recently hit a high around the $7.16USD area and has been in a small downtrend since. It looks like it may be ready to head back upwards and test resistance again after a nice bounce off of support. Entering around the $7 mark would give us about a 2.37% retrace up to resistance and would be a perfect bounce off of the 0.5 fib. RSI on the 30...

Magic-Charts

OANDA:WTICOUSD looks like it's giving great entry for a short position down to the target below. RSI appears to be in agreement.

Magic-Charts

Today may be the day NASDAQ:TSLA needs to make a decision. It's looking like we'll see a battle between the $820 price point and $725 with open putting us right on the 0.5 of the fib. Lets see how the day plays out!

Magic-Charts

It looks like KUCOIN:ADAUSDT may be charging up to make a move to the upside. If you think it’ been super bullish as of late, you haven’t seen anything yet. I personally believe that we may target the $7.50 area before X-Mas 2021 if we are able to hit a few of the key targets along the way. If this it to become true, load up time is at the bottom of the arc’d...

Magic-Charts

KUCOIN:ADAUSDT . has currently made a few runs to area of its newly found ATH as Aug. comes to an end. After recently getting rejected at resistance while attempting to enter the $3USD area it looks like we’ve found support. With a 4hr close back above the trend line and EMA34 I believe $ADA may be charging back at resistance and possibly towards a new ATH. 
 A...

Magic-Charts

I know we’ve been hearing about it for months now, but with the way that the 8hr chart on BTC is playing out, I personally needed to take a deeper look into Wyckoff and the possibilities that the current uptrend we’ve been experiencing was part of a redistribution schematic and if we had just experienced an upthrust after distribution (UTAD) 
 A few points worth...

Magic-Charts Updated 

Are we going to see a Diamond Bottom reversal on NASDAQ:TSLA ? Right now, TSLA is riding its way up the price scale on an uptrend but is currently experiencing a local down wave which has brought us down past the current up channels 0.382 Fibonacci line. This lower 0.5 line of this upwards channel may save the day and help get things back on track. It looks...

Magic-Charts Updated 

NYSE:PINS went through a bit of a sell off into and on their earnings day. The earnings day selling was drastic at open and that caused a window to open in the chart. We should close it before it gets crafty. Currently on the 8hr chart we closed just above support and on the 0.5 of the upper channel fib of the descending trend. Attempting to enter again at...

Magic-Charts Updated 

KUCOIN:BTCUSDT has been making some fantastic moves to the upside recently and it’s fantastic to see that it is gaining and maintaining that upside traction. Recently on the 4hr & 8hr charts we’ve been working a zone marked by support at $43.7k and resistance in the $46.5 - $46.8 area. Setup #1 - The Short If BTC fails to break through the resistance zone...

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TSXV:JK may be recharging to make another attack at its all time high. We’re recently hit a new ATH with $JK.V as it broke through to a new high of $2.02 on its latest run. Taking a look at it’s current channels - both down and upward - along with the MACD and RSI it looks like we could be in for a retrace back down to the 0.618 of our local fractal @ 1.48, if...

Magic-Charts Updated 

$WELL:TSX It looks like WELL has possibly finished the current - local - downtrend that it had been going through which saw it come from a high of $8.86 to a wick as low as $7.12. There are a few key points of resistance (dashed - red) that it will need to break through on its way back up to its main uptrend line (purple) with the heaviest being in the...

Magic-Charts Updated 

Is GEO about to to go on a small run? It looks like GEO may have just experienced wave one of an uptrend and is looking to continue that trend with wave 2. It briefly broke it’s this trend on July 19th but quickly hoped back on board and has been holding true since and has formed a nice level of support at $6.61. As of the 28th we appear to have broken out of the...

Magic-Charts Updated 

$SAM has recently seen a decline in price from the $1300s down to the $650s. It’s starting to look like it may have found it’s general floor area and would be looking to bounce. Looking at the 4hr, we may be able to expect a tiny bit lower off the bat at opening allowing for an entrance coming at $654. With the increased volume recently and further partnership...