The money came flowing back into the Crypto Market today like a dam burst...so is the bottom in and we're only headed up from here? "To The Moon!" I hear it all the time...and yes, today was a significant move up, but we're far from out of the woods yet.... On a personal note, today is one of the reasons I have been using the Average Down method with my...
I don't know how to post another version of a chart, so making another post. This is the MANA chart 4 hour at normal view. Is that a little uptick on RSI?? I zoomed out on the initial one to give you a better overall view.
I've been following MANA a while now and "found" a new potential up channel I've placed in Green on the chart, Price had a nice run up from the last pivot low...whether it's the bottom or not I don't know. But, price has fallen to the right, lower green channel line which also happens to be the 38.2% Fib Retracement Line. I've been listening to a poster that uses...
A nice trend change today to start off the month. The news of sending troops to eastern Europe this morning might be seen as the impetus for the sell off. When the selling starts...you can almost see the bulls running for cover. Although the fall wasn't near as bad as I thought it may be. Price broke through the lower red line of the triangle but still remains...
Call me silly, I added some ALGO here. RSI has broken above the RSI MA but coming up on the falling 50ma. So might be a good entry point, will need to see what happens at the 50ma
The Crypto market looks to be barely holding its head above water. We'll know soon enough as several convergences are coming to a point. Notes on the chart...I hate to admit I love watching the action!
It's the end of January 2022 and the Crypto Total Market Cap chart is getting ready to make a move...can we answer the question yet of Is the Fall in The Crypto Total Market Cap Over yet? There is a possibility. It is possible that the last low was the end of a wave 5 down to end wave C down to end wave 2 down. The continuation of this pattern would be the start...
Added to the on-chart label for last low pivot the possibility that the pivot was the end of a wave 3 down and we're in wave 4 up, which has the tendency to draw trading sideways...take some time...then POW!
Drew in a small wedge on recent price, red if it breaks down, green if it breaks up. Hard not to look draw in these little patterns even on this longer-term time frame. It's really neat to watch! Watching for which direction the break will be and then strength and confirmation that follows...
What a week...the FED minutes came out and initially saw prices spike, then immediately fall back, only to move steadily upwards. On the Daily chart, we see that price has a confirmed move back into the upward sloping channel and is moving up toward the 50MA. RSI is in the mid-30s and has crossed over the RSI MA line. Not bad, but far from confirming the bear...
I just had to post this update on the 15 minute chart. I was looking at the 5 minute (which they won't let me know as to short a time frame) but it really shows a highly developed ABCDE ending wedge. ABC and D are done and my chart shows we're in the last part of Wave E up before the fall from the wedge would typically happen next. I added a Fib Ret indicator...
Still on the 15 Minute Chart this new ascending wedge has been "revealed" as marked in the solid blue lines. We're watching for the chart to give the next indication of where price will go I moved the outer/upper blue dashed channel line to match the rightmost trading price. It price continues upward past that point, the line may be adjusted more. The channel is...
The price action is just so interesting on the 15 minute chart I just had to post it I added another blue dashed down channel line where price has last occurred which now looks like a mature channel where price action in the near term may occur. Price has risen back above the lower red dashed channel line but has run right into the 200MA on this timeframe. I've...
Back to the 1 Hour Chart where I just put in a new down channel in blue dashed lines. It's probably the most aggressive scenario, but possible. This channel provides one scenario where price may trade within to get down to the green dotted channel line below where the finger is pointing. Price has just fallen through support at the red dashed down sloping line and...
Back to the Daily chart here... FED day saw a POP up out of an ascending wedge on the 1 Hour chart to the Orange Pivot Line above (Answered the question of Bull Break or Bill Fake!) and was immediately pushed down right back to the red dashed lower channel line that has served as a significant dividing line between a bear or bull market. Price is currently below...
WoW....a nice POP right up to the 200MA and the 50% Fib Ret Line and an immediate pullback (indicating a trend change) and now has fallen back to the bottom up red dotted channel line. This rejection and decline in RSI indicate that we're in another bear move down...the only questions let are how far and will it be the last one before this whole bear wave since...
Back to the 1 hour chart...All the markets are on fire in lead up to the FED releasing their minutes at 2 PM today...to me that's very unusual. Typically, one might expect things to be quiet...but I'm not yet convinced that a bottom is in. This ascending wedge on the 1 hr can often lead to another drop. Sometimes even with a POP above...before it turns around and...
One combination of indicators I use are crossing Major Averages, RSI and Volume. This is one example where these indicators have lined up to tell me to be ready to buy. Why? On the 1 Hour Chart, Price is now supported by the 20, 50 and 100MAs and has run up to the 200MA. There was a large pierce off the 200MA, but it was solidly rejected...so back here...