NickelOak

NickelOak

Lots of bearish divergence showing up. Overall, I'm still bearish on BTCUSD, especially since the DXY is taking off. The big picture is that we're still in a downtrend. Until price crosses and stays above that green trend line, I'll be bearish.

NickelOak

If the potential Hidden Bearish Divergence finishes forming, it would likely override the Bullish Divergence that's currently visible. We're also in an apparent downtrend now, and that's worth a lot. I'm more bearish than bullish on the major indices at this point.

NickelOak Updated 

I'll be surprised if Bitcoin can go any higher, but it does have a history of surprising everyone. Still, the macro story hasn't changed, and I'm still bearish.

NickelOak Updated 

Lots of bullish divergence. Stocastic RSI is oversold on the 3 day and 1 week charts (not shown). Overall, I'm bearish on the major indices, but I think the next move from here is up. I'm keeping an eye on the EMAs, since the 20 day EMA just crossed the 50 day EMA.

NickelOak Updated 

And hidden bearish divergence signals continuation of this downtrend. It doesn't get any simpler than this, really. Have fun, and good luck!

NickelOak Updated 

Possible inverse head and shoulders forming. Just an idea. I should note that I'm overall bearish on crypto right now, though. Most other metrics I like using are pointing toward more bearish action, moving forward.

NickelOak Updated 

1 hour chart Bearish Exaggerated Divergence on the RSI (same on stochastic RSI) "M" top forming RSI overbought Decreasing volume Descending RVGI Have fun and good luck!

NickelOak Updated 

-Bearish Divergence on the 1 day chart. -More of this divergence can be seen in the near-term on a 4 hour chart, as well (not shown here). -Stochastic RSI shows there may be a little more upward movement possible before a reversal. -The 0.5 fib extension level, as well as resistance at $32.4 may be difficult to overcome, but price might push on up to the 0.618...

NickelOak Updated 

-This most recent pattern has been Wyckoff (re)Distribution and is a fractal of the previous big run up and selloff. It's quite visible on a 4 hour chart. -This week's candle is shaping up to be a spinning top with long wicks, just like the previous Wyckoff Distribution and selloff. -Stochastic RSI is making me think RSI is going to keep heading toward the...

NickelOak Updated 

-Price is trending up. -Triangle formed (shown in green) and price may be breaking out of it to the upside (watch for strong daily candle close with some volume behind it). -Hidden Bullish Divergence showed up on RVGI and RSI. -Stochastic RSI looks ready to head back up. -Note: The 1.618 fib level (not shown) is around $1.75. Potential barriers: -If BTCUSD or...

NickelOak Updated 

-Lots of Hidden Bearish Divergence is showing up on the 4 hour chart, despite the recent, bullish 'W' pattern. -Price is at a resistance zone, as well. -These are significant barriers to upward movement, but the more price makes a run at the resistance zone, the more likely that zone will fail and become support. -If BTCUSD or ETHUSD sell off, this could affect...

NickelOak

-Hidden bearish divergence (shown in pink) -Likely to retrace back to the 0.618 fib (~$38K) -This most recent pattern has been Wyckoff (re)Distribution and is a fractal of the previous big run up and sell off. -If the ~$38K level can't hold, I think we'll be headed back on down to the ~$31K area. -Price may bump back up before the next major leg down, but don't...

NickelOak Updated 

-Price is trending up. -Triangle formed and price may be breaking out of it to the upside (watch for strong daily candle close with some volume behind it). -Hidden Bullish Divergence showed up on RVGI. -MACD is about to head positive. -RSI has plenty of room to move up into overbought territory. -Fib extension shows upside potential of about $0.40. Potential...

NickelOak Updated 

Note: Don't trade based on my ideas. They're worth exactly what you paid for them. I'm fairly new to this, and my charts are for my own entertainment, education, and record keeping. My support/resistance zones are indicated by horizontal orange lines. -Price is getting rejected by the ~$50K strong resistance level. -Strong bearish divergence has been forming on...

NickelOak

1 hour chart. Strong support around $1730. RSI, MACD, and WTT are also starting to look favorable for a price increase. Target is around $2030 (resistance), if the wave pattern completes and breaks strongly upward. I'm hoping $1730 remains a local bottom and price continues to move sideways in the channel between current support and resistance. I'll be trading...

NickelOak Updated 

OGI's price created a double bottom between April 20 and mid-May. Short-term resistance has become support (orange horizontal lines), and although the RSI, MACD, and WTT indicate a short-term reduction in price, I believe price will follow the channel identified by the pitchfork. This idea becomes void if price breaks strongly out of the pitchfork channel and...

NickelOak

I'm curious to see what happens after this pattern completes. I have no idea whether BTC will break up or down, but I suspect it'll be down. From a macro perspective, I think BTC has further to fall. I'd love to buy in somewhere in the $20K's USD (if not closer to $15K). I'm definitely in the "watch and react" camp right now.

NickelOak Updated 

If price drops below current support, it's likely to fill the previous gap and head toward lower fib levels, as noted on the chart. If that drop occurs, I'll be looking for buy setups at the lower fib levels.