On 9/18/2018, XRP gained 197.4% in 4 days fueled by over 1.24 billion of volume on Binance alone. Since then, all attempts to break above the bearish upper trend line (red) ended in rejection. Ever since BTC started its run on 4/1/2019, the XRP/USD chart didn't offer much insight into what would happen next. In my last analysis I used the XRP/BTC chart because...
Many alts have seen 50-100%+ gains since BTC exploded on April 1st. XRP/BTC however, has dropped 25% since then. I've been closely monitoring the price action over the last month and I believe XRP has been quietly accumulating and is getting ready for a breakout. The XRP/USD chart was looking strong when BTC had its breakout but for most of April the trading...
Cradle - a point or place at which something is invented or provided As you can see on this chart BTC has reversed off of cradles comprised of intersecting trend lines and fib levels. It's tough to see the pins on the candles with all the overlays but I assure you it's forming a nice morning doji complete with a strong spinning top right on the downtrend line...
BTC is hovering above a strong support zone comprised of the .786 long term Fib, .236 intermediate Fib and a VERY high volume support (brighter orange box). Beneath it are additional proven supports: - Solid horizontal support @ 6000 - Baseline support that's been intact for almost a year - Critical horizontal support at 5745 Volume has been decreasing for the...
Fib's: White: Full Yellow: Prior low extension to last high Red: February's high retracement to prior low ROI are calculated from when the price was $8275. When reviewing the longer term trend lines and support/resistance zones the reward to risk ratio for BTC is favorable. A lot of things can happen and here are two scenarios I believe are most likely to...
ETH/USD is looking very promising. The golden cross of the 50MA moving above the 200MA is a bullish sign. The last candle was bullish. MACD: bullish. RSI is on the high side, however in the past month that hasn’t scared off the bulls from pushing it well over 70, even peaking at 83. There’s strong support with the 50MA, 200MA and 2 Fibs. Speaking of Fibs,...
MACD is indicating bullish, cup and handle formation is ideal and volume looks to be picking up. On the other hand, RSI has a bearish divergence and both the short and long term Fibs show major overhead resistance around 4880.
Never underestimate the power of emotion. This latest bull run confirms that and when it ends, be prepared for a significant correction. I've heard it all in the past 2 weeks. "Soros and institutional money is coming in, lambo and moon here we gooo!" Institutional money (the money that isn't here already) comes in when it's low risk and exceptional value. ...
As the market rises LTC has been lagging behind and for good reason. The 50MA is about to cross below the 200MA of which LTC has to overcome both those resistances in addition to the upper trend line and yellow Fib's .236. Given how strong this rally is, I could see an ambitious push to the yellow Fib's .382 ($163.80) but there's too much for it to overcome to...
Let's start with the obvious. I've outlined the bull flag in orange. I wouldn't be surprised if this broke out a little higher until it hits strong resistance from the Fib and 50MA. The white one is trend based, the red is retracement to estimate a bottom should it drop below 6k. Key word: estimate. Not probably, likely, guaranteed, unlikely, impossible or...
Emergency update on BTC because there's a lot of panic selling. I'll start off by saying BE COOL. It would have been nice if BTC tested $9,600 but the markets, like life, doesn't always give us what we want. Currently BTC has decisively broken below the Fib's .236 and is likely to head down to $7,300 where there's a LOT of support. There's always going to be...
Please see chart. ICX has exploded in the last week, roughly doubling for those who got in and out anywhere near the high and low. A good friend and investment strategist at BNY Mellon always preached "reversion to the mean" and I'm not going to argue against one of brilliant investment minds I am grateful to have lunch with on a regular basis. Case and point:...
Please see chart. Falling wedges traditionally favor a bullish reversal. When reviewing XRP's history it tends to explode followed by these long, tedious periods of decline before it explodes again. XRP is a solid token, one I believe will be around for a long time. However history shows that if it reverses it could just be a temporary bump before it drops...
On the 8 hour chart LTC is facing the 50MA (pink), prior Fib's .5 (yellow), current Fib's .382 and a month long upper channel line (green). LTC could overcome it, it could also pull back to the .236. Bulls appear to be in control for the moment but as we know the bears are capable of taking it right back. If LTC breaks up, target is the current Fib's .5 with...
Double top formed perfect "M" formation with textbook 20% dip in between peaks. Both peaks are well within 4% of each other. A temporary pullback occurs when bulls try to push higher despite staring an M straight in the face. It's a similar concept to an inverse cup and handle formation. There's some support around $8,300 however a retest of $7,200 appears...
WABI hasn't been participating much in the market recovery and a falling wedge has formed as it heads down to the .236 Fib. RSI is flirting with the 30 and this is a good sign as it shows the bears are running out of gas and the bulls are positioned to take control. As always, set stoploss and take profits according to risk/reward strategy.
Please see chart for details.