MCassICT

MCassICT Updated 

It has been sometime since I shared a chart but I thought this might be a fun one. I dont know if we should be worried or not. Just a few hours before it happened last night I was playing around on TV and put this together and afterwards, was completely expecting what happened. What I have done is compared the 2013 and 2018 bear markets to see how they compare. If...

MCassICT

I have read so many bearish Twitter posts it is about to drive me insane. Some are even calling for LTC and all other ALTS to go to zero. I wish I knew what they knew at this point. Volume and volatility have gone down to nothing practically. All I do know is that LTC is as oversold as it gets and people should be pouring in at this bottom. On this one chart, I...

MCassICT Updated 

It has been awhile since I posted but had a little time to really dig into LTC and thought I would share. The crypto bear market that began in late December seems to have shaken out a lot of those that jumped in just a few months before and right now everyone is looking for reasons to jump back in, even for a short to mid-term trade. I think we may be getting very...

MCassICT

BTC has had a good run over the last week and I think everyone is quite aware of the large inverse head & shoulders that has been forming over the last couple of months. We are hitting heavy resistance at the 11600 and I would also like to point out the rising wedge leading to that resistance. Be aware of that and be ready for a possible drawback to 10250-10300...

MCassICT Updated 

I may be reading more into this than there really is, from an eternally optimistic perspective, but is that a big cup and handle trying to play out on LTC?

MCassICT Updated 

After the recent run up a few days ago this pullback seems to have been a necessity to keep things healthy. While there is still a lot to play out and more downside is still possible, it appears we have an inverse head and shoulders forming. On the 4 hour chart though I am watching for the MACD cross which has not yet occurred. We bounced the RSI and broke above...

MCassICT Updated 

It looks to me like ETH is trying to form a H&S pattern. we have a well developed left shoulder and head while the right shoulder is about halway through its development. On a positive note, it has moved above its 200 day moving average which may act as a support should the H&S try to play out. We also have support at the 900 level. If we close a candle below 900...

MCassICT

Bitcoin Cash is finfing it difficult to generate higher lows and higher highs which has kept it in an ascending triangle. It is getting close to making a decsiion one way or another but no matter how much it would like to knock BTC off its perch, it just isnt going to happen here. Right now, still below its 200 day MA, BCH needs for BTC to make the run to 10600 so...

MCassICT

After the small pull back this weekend and forming another bullflag, BTC has come back nicely and looks to play out in the bullish move. For confirmation, we need to close the candle above the $11,200 mark. If we can find support there, we can look to the next target of $11600 as this bullflag plays out. RSI is not in oversold territory yet and the MACD looks...

MCassICT

So far the bounce from the low has played out nicely but ETH appears to be consolidating and finding resistance $800-$815 range. It looks to me like our next target will be $917-$938 if and only if BTC is able to sustain itself and push through its $8800. RSI and MACD are not showing oversold but are showing some of the consolidations it looks like we are...

MCassICT

Well as many of you I had hoped that ETH would be able to do as it has done in the past and not stay so strongly tied to BTC but it doesnt look that has happened. With BTC dropping below $8000 it has taken everything backdown with it. I am not completely surprised though becasue ETH had formed a bear flag right at the trendline and currently it is on target for...

MCassICT Updated 

Well as you can tell from this chart, I am beginning to get quite bored with this bear market. Being new to technical analysis, I keep learning something new every day but it seems that over the last few weeks the most prevalent lesson has had to do with Newton's Law of Gravity. To pass a little time this evening, instead of drawing bear flags, head and shoulders,...

MCassICT

In mid-December after hitting a low of around $15.60 an ounce, Silver has found some footing and is experiencing a strong uptrend. At the end of December, it easily crossed 16.61 and the 16.88 resistance which has now become a key support. Following along the 16.88 support, the recent bullish trend has provided additional support encouraging Silver towards recent...

MCassICT Updated 

Still new to this but wanted to share my most in-depth chart yet and anxious to hear any feedback. I found it interesting that when this downturn started we formed a bear flag that had it played out, would have taken us all the way down to the previous trend we were on well before people came pouring into the markets back in November. Instead, ETH was able to find...

MCassICT Updated 

I had posted this in a reply to another thread earlier and someone had pointed out that my channel lines werent parallel. After the price action over the last few hours and taking another look, I have made some adjustments to the channel that I think are a closer reflection of what may be playing out. I will be anxious to see if this holds true. Would love to see...

MCassICT Updated 

Back in December I bought my first shares of a gold mining company, ABX. For much of 2017, it was on a deep downward trend but being one of the largest mining companies in the world and the shares were cheap, I thought what the hell, let's see if she has any life left in her for the long term. Since the beginning of the year it appears to me that ABX has now...

MCassICT Updated 

Yesterday I said that we had 3 possibilities and now we are down to two. Overnight we fell through the first support of $183.00 definitely giving in to the bears. Volume is beginning to slow and RSI is showing that we are definitely in oversold territory. At this point, I am watching for the bulls to step back in and keep this above the next support of $144 and...

MCassICT

I just recently started charting a few months ago and this is my first publish on Tradingview so I would love to get some feedback! After the big downturn over night and this morning in the cryptos, I have made some slight changes and it seems to me we have three possibilities. The soonest possible recover requires a bounce off the most recent lows of this drop in...