AVAX broke out of the ascending triangle and is basing into a flag pattern. Bumped the 200dma and looks ready to go. Need strong volume on the breakout. One of the best setups atm for momentum traders given the VCP. Measured move from the flag is to $110-115, but my hunch is that we get to new highs sooner than people think. AVAX has a lot of momentum from the...
Despite the choppy range, the key takeaway is that Bitcoin making a series of higher lows as supply is patiently being absorbed. RSI coiling up and looks ready for a big move next week. The Fed meeting this Wednesday likely clears much of the uncertainty that is keeping big money sidelined for now. Barring any surprises, would expect markets to rally (sell the...
ATOM developing a solid falling wedge right on $26 support w/ volume dropping off (selling pressure subsiding). Great reward/risk setup. ATOM tends to rebound relatively strong. Many "experts" in crypto seem to think ATOM is one of the better L1 platforms from a fundamental perspective.
ATOM broke out of the downtrending channel and forming a rising wedge on the 4hr timeframe. Bearish RSI divergence in play as well. Potential for a breakdown and retest of the channel.
AVAX forming a large symmetrical wedge that's tightening up. Expecting a large move in the next week or so. As one of the leading L1s and top 10 largest coins by market cap, this breakout will be important for the market. Let's hope it goes to the upside.
ALGO building a falling wedge right on big support w/ slight bullish RSI divergence. ALGO held up better yesterday than most, which is a change in character. May be time for a relief rally towards $1 barring any crazy headlines
Levels on the chart. QQQ bumped its head on the 200dma twice and falling back towards the lows. A break of the lows would likely send this to $325, which would put the index at a similar level off the highs as the 2018 taper tantrum Bearish headlines relating to inflation, hawkish Fed and Russia/Ukraine fueling the selloff
(Previous idea cont'd) BTC respecting the levels so far off the lows. Broke the downtrend and pushed up to $45K resistance before pulling back to $41K support. Very symmetrical, constructive price action. Got the bounce off support and putting in an inside/resting day at resistance once again. Think we breakout above this time and squeeze to $50K+ before pulling...
ARKK forming a wedge base above pre-pandemic highs. Could break either way, but think it goes to the upside towards $89 resistance. RSI has already broken the downtrend and the extremely high volume typically markets capitulation. ARKK topped in Feb 2021 and went down 60% from ATHs. Growth stocks have been in a bear market for about a year, which is the same...
MATIC formed a base at the lows, broke out and now retesting near $1.75. Think this pullback will be short-lived and we go for the trend line break pretty soon. RSI has already broken the downtrend. We saw this setup back in October. With the recent $450m capital raise from some of the best VCs and angel investors, it's been given the green light for many that...
AVAX developing an inverted H&S pattern and likely goes for the breakout over the coming days. Showing big relative strength throughout the correction w/ a steady bid off the lows and within 40% of the ATHs, while many are off 50%+. Those that hold up the best and recover the fastest off the lows is likely where you want to be when coming out of this...
ETH has been one of the strongest off the lows and now developing a pretty clean inverted H&S pattern. Think we take a shot at breaking out over the neckline this week. Always expect a re-test of the breakout, but it doesn't have to happen if there's enough momentum. First big resistance near ~$3.9K
BTC broke the downtrend this past Friday on a huge move, breaking above $41K resistance in the same day. This has very bullish implications as a lot of spot buying power was needed to clear both levels. Ideally, we hit $45K near-term and pullback to $41K before squeezing higher. A lot of disbelief on twitter. Hawkish Fed was the narrative that took the markets...
MATIC / BTC pair forming a huge cup and handle pattern. Plenty of room to run on RSI w/ hidden bullish divergence. Think we see Feb continue to build out the handle and possible breakout in March.
MATIC broke the uptrend and now building a bear flag beneath. The measured move is somewhere near $1, which seems reasonable as it would be 70% off the ATHs, similar to other big washouts for altcoins. In order for this to play out, AMZN would have to miss EPS after the close today and crypto has to follow tech down as it has the past couple months. Unlikely...
AVAX broke below a key support level and forming a bear flag beneath. Measured move is to the $40's. Some L1s had big moves in 2H 2021 and underwent distribution the past couple months. With no incremental buyers, price comes down the other side. If AMZN misses EPS after the close today, could be an ugly weekend for crypto. If so, think this is the last leg...
ATOM looks like its building out the right side of its base just underneath the ATH. This has been one of the 2021 laggard L1s that I think will play catchup do very well this year. Would like to see a bit more consolidation on declining volume as selling pressure dries up and gets absorbed. Currently, $9bn market cap w/100% supply circulating Market cap of some...
CRV showing huge relative strength in the market today on a significantly red day for both crypto and stocks. USD and BTC pairs both look great. On the chart, we have CRV re-testing the breakout and looks primed to hit the next resistance zone 3-4x higher from here. Think this will be one of the strongest performers in the next 1-3 months. Research Curve wars