... or change ETH to DETH because it looks like it is dying.
Price is on an intersection of support after the latest drop this week. The RSI is starting to loop up to stay inside a bullish zone - which could bring buyers The ADX is starting to loop up to keep the indicator in a strength for trend zone. The directional index lines are starting to diverge from each other with the bulls taking control. Thoughts?
Buying interest is likely to be found here, but again momentum s still low. More consolidation likely if there is a small bounce.
The week is starting off with some selling interest as price drops to the top black trend line, which should remain as key support. There is also another near-term blue-dotted trend line that intersects where buyers are likely to be found. The RSI dropped lower, but remains inside the green bullish zone going forward. As the intersection of the two trend...
Price has been in a tight trading range, but a couple of indicators are showing the red bullish trend line to hold with buying interest likely to succeed. The ADX is starting to stabilize and turn higher inside the 20-30 strength building zone for trend as support is being tested and the bulls maintain control. The RSI held inside the green bullish zone on the...
hmmmm.....
Momentum is weak and the trend is sideways. Not much indication for this range-bound price action to change any time soon. The ADX is falling and the directional index lines are knotting up. Not much to go on here. Hold.
Sticking with the same chart this week as I posted last week. Price broke through the black bearish trend line and retraced back to the line, which so far has held as support. With the price staying above the trend line, the bulls maintain control of the near-term trend. Momentum is easing back, but market sentiment remains as a "buy on dips" near the trend...
So far I like what I see for this large descending triangle to be a reversal pattern. Price broke out to the upside and is returning to the break point as of this writing. With indicators showing favor for the bulls to get this trend started, the throwback to the trend line should find buying interest to bounce the market higher again. If this is a...
This is exactly why I stay short until we break the upper black trend line to the upside. I would rather buy with confirmation of a break from the range-bound trend to a bullish trend before buying. Continue the move to the apex. If it breaks lower I wait. If the upper trend line breaks I buy. Thoughts?
Two key indications on the long-term SPX weekly chart to watch. First, there is a clear divergence between the price and the RSI... a bearish signal Also, the ADX, which measures internal trend momentum, has been falling as the price was rising. So, no momentum for the bullish move was building on the rise. This is a signal to stall out. Both of these...
I have been doing Elliott Wave for years and on rare occasions a triangle can nest inside another triangle to form a large descending triangle that has 9 hits to the trend lines. Historically, in this type of pattern when the price reaches the apex of trend line X and Y expect the market to turn. So, if this is happening, the breakout should happen within the...
This is the wave pattern I am sticking to unless we break to a new high above the trend line (WITH MOMENTUM). If the price goes above the trend line in divergence to indicators then I am a seller and staying short (false break). The wave analysis shows 4800 minimum for wave 5 if the bearish trend line holds and the price plays into the forecasted support and...
Watch for a test of the trend line drawn on the chart. As price recently made a new high it made it on a divergence against the RSI. This is a bearish signal that should continue to drop the price this week. Also, trend momentum has been losing strength based on a falling ADX. If momentum for the bears builds strength as the trend line is tested, be careful...
XRP is trading between Fibonacci support and trend line resistance. Both levels held to trade the market sideways, but indicators are showing this market is likely a buy on dips. questions let me know.
Low momentum is still the call here for ETHUSD. More range-bound to lower trading ahead. With near-term Fibonacci resistance holding, and no momentum to break to the upside, look for more selling interest to come to market this week. The recommendation is to hold until there are bullish signals coming across the internal indicators, otherwise wait for more...
The highlighted red apex is the path likely for BTC in the coming days. The apex is around 6300. Not a whole lot of trend momentum at all, so more flat-lining to be found (with the slight bearish slant from the slight RSI divergence) Yawn! Wake me up on a break above the upper black bearish trend line
The red trend line breakout objective (marked with arrows) is still in play. Post-break the price dropped back to the breakout point level and held as support (typical throwback). Internal momentum on the ADX is showing early signs of buying interest returning. Also, the MACD showing a nice crossover too. I would buy here and sell stop on a break below the...