DowTherapy

DowTherapy

This Inverse Head and Shoulders pattern can be seen on several alts but I really like the clarity on Polygon/MATIC. Bulls will be watching for volume

DowTherapy

This is a follow up on a thread I posted on twitter in early June (same handle). Unfortunately, I cannot share that thread due to rules on sharing links within the idea body. The former thread was focused on the potential direction of the recent triangle formation breakout. Since losing the triangle formation on the ETH daily chart we have seen a retest, a...

DowTherapy

Though I hate to say it, BTC seems to be nearing a Death Cross (when the 50MA crosses below the 200MA) on the daily chart. This is one of those super classic moving average (MA) strategies that finds it way in most intro to technical analysis books and honestly a lot of people trade it. I would expect volume to start rolling in as these two MAs keep inching...

DowTherapy

Ethereums daily chart has broke through the bottom of a broadening formation. We can leverage the difference of the base and the max height to help determine our potential target price. Considering this, we can expect a potential $100 swing downward towards $275. Bulls will have several chances to change direction before this around the $325 and $300 mark,...

DowTherapy

Former support and buying level near $375 is looking exhausted. The last line of demand looks to be around $364. If these levels continue to be tested or weakened then $325 could be a real possibility. At this time, I am not a buyer unless there is confirmation that selling pressure is drying up and we have a close above the 13/21 MAs with volume.