Looks like Neo failed to climb over the major fibo resistance and remains in the descending channel. I am expecting further downward pressure against Bitcoin at this time. Key levels to watch to the upside: - Sub-fibo ressitance at 0.00688 - Key fibo resistance at 0.00768 - A breach of the downtrend line to the upside Key levels to watch to the downside: - End...
New highs yay! Breakout of a previous high is a big buy signal, and on the daily chart its an even bigger signal for swing and breakout traders. However, long term hodling is not advised as risks are high with RSI quickly approaching overbought conditions and profit targets nearby. The threat of a big crown reversal still looms. With the breakout in our pocket,...
A decision must be made! This is an update to the potential BiG crown reversal that continues to pose a threat to long entries at this time, as I have been blogging about for a few weeks. We are now trading around the sub-left crown resistance level, which is expected in a crown reversal pattern. The bottom line is, opening investment or swing trades is high risk...
Is this a mini crown reversal we see on the 30MIN chart data? We might have an overall short maneuver, with counter-cyclical long entries. 1. Short Entry: Between $4250 to $3859 2. Long Entry: Between $3859 to $4313 3. Short Entry: Between $4313 to $3772 This idea is invalidated with a breakout and close above $4697
We had intense institutional accumulation at the major key fibo support level a few weeks ago to stop the bloodletting just below $3000. This initiated an automatic rally, akin to the one we saw at the beginning of the month coming down from the ATH close to $5000, which stopped around $3900. Both rallies witnessed increasing volume while the trend reversed,...
Chart data shows us we should anticipate long AND short price action in the OMGUSD pair. Previous threads show we should look for a nearest-term downside movement, followed by a break to the upside manifesting in a structural wave 3. Alternatively, we could see a breach in a key fibo level to initiate a deeper correction. It is important to keep in mind that price...
We have an interesting situation developing in the BCHUSD chart :) I will be updating this thread as we go, but for now, please have a look at the data. Which way do you think it will go (please include WHY)?
This asset has held up very well over the last few turbulent weeks. If we take a look at the chart data, we can see the trading range is quite defined and its clear where institutional accumulation is taking place. What we want to do now is look for bullish divergence to the upside, and get involved once we see a change in market structure. OR, we can get a little...
UPDATE: We had intense institutional accumulation at the key fibo level yesterday morning to stop the bloodletting (markdown), which initiated an automatic rally. This was evident by the increasing volume while the trend reversed. Unfortunately we breached the key fibo level, so for me, the odds are more likely we will test that level again, rather than attempt to...
RSI is indicating bullish pressure in the ZECBTC pair. Chart data shows we could be looking at a corrective wave-B to revisit or at least kiss the max fibo. This would make sense, as the ZECUSD chart is showing that we may be gearing up for a structural wave 3 that might take ZCash to new all-time highs against the USD. The reason the latter is possible, despite...
We see bullish pressure in the XRPBTC pair. Chart data shows we could be looking at a corrective wave-B to revisit or at least kiss the max fibo. This would make sense, as the XRPUSD chart is showing that we may be gearing up for a structural wave 5 that might take Ripple to new all-time highs against the USD. The reason the latter is possible, despite the...
Based on the data coming out of this chart and the BTCUSD pair we should see the end of consolidation soon here. We want to observe bullish divergence in the RSI on the 1HR and should not trade below 17 cents. Ideally, we want to enter a long position AFTER bouncing off the major trend line shown on the chart. PLEASE NOTE: as always, the movement in this USD...
Based on the data I've gathered, we have the final stages of the triangle correction unfolding. Look for bullish divergence on the 1HR from correction wave-C and short at correction point-D. We then want to enter a long position at correction point-E. The major trend line is located at the end here, and we should not see trading below that level. PLEASE NOTE: the...
The data does not look good for LTC. I would strongly reconsider holding this asset over the next six months in your portfolio.
The data suggests we should be looking for the end of consolidation wave A. Ideally we would touch or go below the 0.382, and then cross the descending trend line as a structural confirmation. The ETHUSD chart is loaded with "USD chart bias," so any long term positioning in this asset should be based on this BTC chart. Even once we find the bottom of wave A, we...
Chart data continues to show a correction wave to the downside (wave-A), but we should be nearing the bottom. We have two support zones in this USD chart as possible reversal zones. We should remember the USD chart is tethered with the BTCUSD pair, so to better anticipate price movement in the BCHUSD chart it is important to analyze the former thoroughly (please...
Data from the BCHBTC chart is showing us a possible end of consolidation date for Bitcoin Cash. This could produce a monster wave 5 trade. I advise caution trying to interpret the BCHUSD (not the BCHBTC) chart, as it is biased by the USD value generated by the BTCUSD chart (at least this is my theory). We should make preparations to hold this trade September 14th...