If the chart stays above the triangle it should break the first resistance line. If it breaks the Line, it can go up fast to the second resistance line. If not, make sure it gets support and become a new trend line. Since we have a bull market at the moment as it seems, I would take action now.
OmiseGo looks pretty good. You can still buy it cuz it's cheap. Once it breaks red resistance line it's unstoppable. If it leaves the trendline maybe wait a while. But the Trend is new an it looks like a very long trend. If you have some OMG then HODL!!
Ascending triangle almost formed, possible target 420. Probably new ATH today.
This describes the behavior of the majority Bitcoin vs Altcoins market movement Please, like this idea if you agree, or comment if think differently Good luck in trading!
As clear as day, VRC is flagging a bit on a shorter 2H TF. From the local low of 6700 to a new local high of 12599 to now 9000-9200 ish is to me a very healthy sign, and hanging very strong on .382 retrace. One of the very notable things about the past months price action is it seems to be respecting fib-levels, which is key to attracting the attention of traders....
Altho not a fan of short time frames, as I tend to trade longer time frame set ups, I think this is a bit of important information to consider. Looking at a 30M chart, after the very low voulme retrace, and running a 20MA you can see the constant strikes from below the 20MA up to it and slightly beyond, again and again and again. To my eye this is consolidation,...
Potential Tweezer bottom broken by current candle. Look for and expect the 200MA to get touched. We are surely retesting support levels at this point as RSI on 6H and higher Timeframes continues to move lower. A text book ABC correction, would plow threw prior weeks price levels as if last week never happend. I dont think that is in order here as the volume on the...
This morning I have up a 4H TF, and looking historically (points A & X) pre-consolidation I see a very similar pattern under a significantly heavier volume profile that may play out now that Point 'B' has Printed. If this is infarct the case I would expect point 'Y' to print similar to point 'X' however there does not seem to be available coins on the orderbooks...
Overnight with a surge in BTC/USD prices Vericoin fell a bit causing a much needed down turn in the majority of the indicators. This ofcourse after a slight BB break out of a solidly defined Pennant and is now testing to see if infact prior resistance levels have turned into support, textbook trading here. This may be a good bounce entry now or very soon...
This weekend has been a nice small rally for Vericoin. 24hr Volume is just past $600,000 USD, and the market has moved with the trend. I'm not quite ready to say VRC is in a bull run quite yet, as the weekends highs arnt very much higher than last months run up, which brings me to my next point. Weekly Support and resistance levels. Weekly Pivot at 7785 which is...
Evidence speaks for itself. Oh boy... The alternative cryptocurrency market is in a mega-subprime mode right now. I'm guessing that we're still in the 2006's? Not quite close to 2008 burst yet. ----------- P.S: Enter if you're daring enough, with a 10% stop loss from this level.
Last evening with some high volume in a 200 sat range (6700-6900 Sat), Vericoin (VRC) tickled the top of the pennant on many occasions. This morning it has broken that pennant with a small step, this may be the 1st indication of a substantial market move if multi-week resistance turns into weekly support. Coins for sale on the order book are down from 2.34 million...
20+ Days in the pennant and it is not breaking the bottom with increasing volume, presumably testing support levels. That pennant bottom is 100% critical to a continued steady up trend in the current fib channel as seen from the 1st of the year. A very steady 5 month move with a few intense points of heavy volume confirm this beyond the shadow of a doubt, HOWEVER,...
Again, pennant holding true. Slight volume increase, but certinaly nothing to get excited about. Even with BTC's current run up on 'some' exchanges, it seems to want to hold this current trend. All be it sideways a bit. Low buys at s1/s2 may be a fruitful intraday bounce play for a fast trade or even cost averaging down if in a Current position. 1D indicators...
The pennant continues. Today looking at a shorter TF (2 Hours) & As Monday 'opens' (non retail), Stoch appears to be rebounding from a bottom (single digits). The weekends price action was fairly low in regards to any large moves with volume also on the low side. 12H Stoch looks very promising as we have a potential break out of the BB squeeze on that Time...
Seems as if overall the Pennant is holding and with new support levels to be printed in less than a day unless a break out to the upside happens beforehand, the weekly pivot I believe will come down to lower levels than this current week. Tomorrow being monday, and any possible non-retail traders involved (and bots) may see this as a weakening market and start to...