EncryptShawn

EncryptShawn

This screen captures all 3 runs, our first miracle run to $20k, the run last summer to $14k and this run now. All 3 runs had their own ascending channel. Notice with each run, the return descending channel is more narrow, this is as a result of a larger number of smaller runs versus just a fewer major runs in the past. 2017 run lasted 9 months and had 4...

EncryptShawn

I don't normally do shorter charts, I prefer mid-longer term trading when charting but this was of value to me at the moment with my current strategy so sharing. We have broke through so many resistances with out much sweat, its no surprise to eventually exhaust the run with a need to take a breather. Here we met a long term diagonal resistance which we tried to...

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BCH Resist @ $500, $640, $1300, $1650, $2950, ATH BitcoinCash has been suppressed underneath a two year descending trendline. A major crash in late 2018 drove BCH to super lows ($74) where it has established a new long term ascending trendline, BCH has been bull for 14 months now. It became even more bullish 7.Jan.2020 when it broke above the two year descending...

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ETH Resist @ $240,$275,$300,*$365,$475, $750,$1130,$1400 Ethereum has been on the down and out for two years thanks to a persistent descending trend line of resistance. It would appear as though 14.Jan.2020 we had a break of channel that came back a week later to perfectly test top of channel as support before blasting off! We see a series of locations that will...

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I started buying BNB when it was around $2.50 but had sold all my holdings last year to pay for software development. I recently started buying back in as BNB broke out of a 7 month descending pattern at the beginning of February. But it was more than just breaking out of a 7 month descending pattern that is worth noticing. BNB had also crashed through the 2...

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XLM has been a falling knife for two years with no sign of a bottom. XLM has been stuck under a descending trend line that it last tried to penetrate unsuccessfully last June during our bull run. XLM was one of the few that saw an additional rally in Nov 2019 and then saw its low .04 in the middle of December around the exact same time that BTC put its low in....

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I posted a prediction for link in early January. I Called for Link to run from $1.70 to $3.30 by around the end of January for nearly 100% gain! My prediction came to fruition today, 100% gains, not too shabby. Now here we are, top of the 7 month ascending channel, what next? If you are just trading LINK, I would consider this a safe exit point for maximum...

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As last post suggested we broke down off the top of the now 4day descending channel with double resistance strong arming an already weakening price trend. With the current downward trajectory there will be chance for some support to bounce BTC back up starting @ $9140 in an attempt to re-engage resistance. I wont pretend I didnt see that insane $400+ price swing,...

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We have formed a 3 day descending channel on BTC now but with a light descent. We are at a critical moment here top of channel and also meeting fairly strong horizontal resistance at the same time. Its more likely to drop than break up here but it could break up, if it does, it should be magnificent. On a fall you can see potential for $9180 support but more...

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Ethereum has had a 2 year+ descending trend line of resistance which formed into a descending channel after June 2019 highs. The 6-7 month descending channel of sadness. But recently, along side BTC, Ethereum broke out of its channel and unlike the previous break which came back down into channel, this time we came back and confirmed top of channel as support....

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My Position: Last TA I published on the S&P we had just announced a phase 1 trade deal had been reached with China. It was great timing as we need a push to get us out of the bottom sub channel we have been stuck in as we were reaching that resistance again for a 3rd time over the last year. I entered the market using slightly out of the money call options for...

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As mentioned in the last post, we saw the fall back after trying to defend $8460 but we didnt hit $7950 and we might not. We saw a little support from what may be an upper channel support riding about $1000 above the 5 year ascending trend line. At this point there appears to be one of two more probable medium term options for BTC. #1 This upper channel holds...

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Quick update BTC range traded as previously outlined. It stayed within a sub channel and kept testing and piercing bottom of channel support. It has down broken down below the support line again for the 5th time in the last 3 days and this time it has stayed below the line the longest and is still there while writing this. There is a below channel bounce back...

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A quick update. My last TA on LINK, LINK was $1.80 and I called for $3.50 LINK by the end of January. I found I had my channel slightly off, after adjusting it I see real top of channel is around $3.25/$3.30, not $3.50. There is every likelihood this channel will hold and we will pull back off of $3.30 but at the same time, it appears we may have just broke out...

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A quick short term outlook. (Short term is always less reliable than long term analysis) We broke out of our 6 month descending channel of sadness and looked like we were going to reach for the moon. The next major stop appeared to be $9500 but we failed to achieve it yet. We saw a sideways channel form 5 days ago and as soon as it was confirmed we fired off...

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Leading up to now: For this we need to zoom out some, we are looking at just over the last two years of price action with 1d candles. In the first wave, we tested the long term ascending trendline after coming down hard from our $21k high to just over $3k. After the first wave crashed, we stuck around the bottom of the long-term ascending trendline for 4/5 months...

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Wow what a ride! We saw BTC test the 5 years ascending trendline twice now and both times it held, though not without a fight the first time. After touching down a second time the price went fairly viral and has been running on an impressively strong 10-day ascending trendline now. That little trendline is so strong that we broke through the top of the channel of...

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If you have been following my posts, you know I have been putting focus on the collision of a 6 month descending channel and a strong 5 year ascending trendline. The collision finally occurred mid-December and the two trends have been battling it out ever since. We have seen the 5 year trendline(Dark Red Line) be tested twice already, I offer no certain evidence...