Dear traders, Here is a quick update for Bitcoin. We may possibly see a rebound here. We are looking at this 4 hour chart of Bitcoin BTC and the formation of a falling wedge. This trade is not without risk but Bitcoin is now very oversold and we have a very nice positive divergence! The decline is heavy and fast. Stops are hit and traders liquidated. Watch the...
Hello dear traders, Here is another update for Ethereum ETH-USDT (on the 1 hour time frame chart), after the hefty price movement of the last few days. I would like to share with you these possible scenario's. As said it is a hypothesis, a way to see different views on price action. It is not an advice to trade! I see Ethereum forming the formation of a small...
Hello dear traders, Here is an update for Bitcoin BTC on the daily chart. After further analysis I come to the consultation that after several heads shoulder patterns (that are all still valid) we now have a Diamond in Bitcoin as well. I have already discovered one in Ethereum and you can follow that on my recent posts. I will keep this updated but for now the...
Dear traders, Here is a new update for Bitcoin on the 2 hour chart. As you can see, my previous head shoulder formation came true exactly. Also the small head shoulder formation in the descending trend channel have been perfectly met (target1). How is Bitcoin doing now and what can we expect. Currently we are in the process of forming a mini inverted HS with...
Dear traders, Here is my view on Ethereum ETH which is in the process of forming a head and shoulders formation. The target is at exactly the old top in April. At this moment you see the right shoulder is being formed. Keep in mind that H-S patterns can fail but then that is a perfect indicator to go long because the price then goes explosively in the other...
Dear traders, Here is a quick new update for Ethereum on the 4 hour chart. We see here a pattern not often seen, the diamond. Like the head and shoulder formations, this pattern has lower targets. It signals normally tops. My previous analysis of Ethereum is still valid with the head-shoulder pattern but now we have a diamond formation and that strengthens my...
Dear traders! I have been studying this daily chart of Bitcoin today and come to the conclusion that things possibly are not looking good for Bitcoin after all but there is still a little spot of light which could change things. If you make a line chart of Bitcoin on a weekly basis you will see this head and schoulders formation is perfect. In fact it is one...
Hello dear traders, You see here the 2 hours chart of Ethereum. A few things have happened that is why I am doing this update as Ethereum was in a perfect upward trend channel until last night. Ethereum broke the ascending trend channel downwards and that in itself is a sign of trend change. Next to that we also see a head shoulder formation (Blue) where the...
Dear Traders, Here is a brandnew update of Ethereum Classic on the 2-hour chart. We see that ETC has formed an inverted head shoulder formation and is now forming the right shoulder. If this H-S pattern is validated by breaking out above the neckline and then a retest of the neckline, then we see the first target for the pattern at 145 USD. I notice more volume...
Hello traders, Here is a quick update for ETC Ethereum Classic. Please also check out my older analysis of ETC. The trend line at around 100 USD is very important. If ETC drops further then I am bearish below the 80 USD level. Everything depends on Bitcoin now. Do we get a sharp drop then the ALTS go down by a factor 5 more but if Bitcoin goes sideways again...
Hello Traders, Here is another update for Bitcoin where I have removed the smaller head shoulder formations from my previous charts for a better overview. Here we see on the 2 hour chart of Bitcoin 2 Main shoulder patterns with 2 necklines. The orange neckline 2 and the redder neckline 3. The orange trend channel that bitcoin has been in since early March has been...
Hello Traders, Here is a short Bricoin analysis for the ultra short term. Bitcoin first formed a blull flag and we now see a bullish falling wedge. That is normal, patterns change all the time and you need to trade what you see not what you think! It would be good to see a positive divergence in the RSI but it is not there yet. This could mean that we will test...
Dear Traders, Here is a new update on the 30 minute and hourly chart of Bitcoin. We have already seen several head shoulder formations over the last month where a few have failed with the reachtion of a hefty counter move. On the short-term chart we see 2 main shoulder formations. The red one has broken through the neckline and has also been tested. This pattern...
Dear Traders, Here is another update on Bitcoin after forming a new leg down we are already seeing another new head and shoulder formation. Rarely did I see so many head shoulder formations together. Big ones, small ones and importantly both the inverse and the regular ones are almost all still valid. You can check that in my post from before. Keep also an eye...
Dear Traders, Here is a brief update to my previous analysis with key support and resistance levels. We have broken through the rising wedge trend line for a while but it may also be a just a wick and there no close at the moment yet for the 2 hour chart. Bitcoin is making complex moves meant to catch everyone off guard and stop out many traders. Selling their...
Hello traders, Here is a brand new analysis of Ethereum. It has been exactly 18 hours since I wrote that the target of 4000 usd would be met within a few days but it has already happened! Congratulations with Ethereum and the 4000 reached level! What is next now? We are seeing now many divergences on multiple time frames among others in the MACD, RSI,...
Hello dear traders, I received a few questions about how Ethereum Classic ETC is doing. I have studied this and I see a downward trend channel with a step pattern which is repeating. I expect a breakout after ETC falls around the 100 level, the purple arrows. A breakout could also happen now following the blue arrows but I do not expect that. The last option,...
Hello traders, Here you see the 8 hours chart of Bitcoin . With a few possible scenarios. We have already seen 2 main shoulder formations in the past that failed. When an H-S pattern fails you very often get an aggressive counter-move. See the red arrows after the necklines were not broken after all. Currently we are develloping the formation of a possible...