melonfarmer5

melonfarmer5 Updated 

A forecast and setup based on my prior analysis. Happy trading. -Melonfarmer

melonfarmer5

A likely scenario IMO would involve a retest of the monthly resistance, after which we see a SWF down to the ~20700 support zone. Then, we begin the 5th impulse up to the ~27000 resistance zone. -melonfarmer

melonfarmer5

Bullish Scenario Green spaghetti: If we hold the 20700 support, then upside to the monthly support at 23500 is likely. After that, we could blast through the low-volume range straight to 30k. Neutral Scenario White spaghetti: If we lose the 20700 support, we may drop down and touch the nPOC at 19500 (with weekly/VAL confluence) and see a bounce to retest the...

melonfarmer5

This scenario is possible. Truth is in the TA. Welcome back ya’ll. -melonfarmer

melonfarmer5

We're in a low-volume area, so there must be movement to the upside or downside of the current 40k psychological support zone (and .618 fib confluence). With low RSI and bullish divergences in early February, this pullback could be recharge that BTC needed before going higher. If we do go up, we will test the long-term trend line and possibly hit the nPOC at...

melonfarmer5 Updated 

BTC is looking a bit weak. The truth will make you mad, I reckon. BTC is not destined to shoot to the moon quite yet. I suggest a high probability of a 46K swing failure from the 45.4k previous high, which will take us back toward the 40-41k support range with a possible bounce or continuation downward. Happy trading. -melonfarmer

melonfarmer5 Updated 

SAND has formed a bullish cup and handle pattern and is on support. I predict that SAND will continue to outperform the market and we should expect movement to the upside. Happy trading. -melonfarmer

melonfarmer5

A simple idea, hoping to see CRV hold 4.1 support and then push upward toward 5.05. Take profits accordingly. Happy trading. -Melonfarmer

melonfarmer5 Updated 

Alts will dump. In that case, let us look toward PEOPLE for a solid trade with huge ROI potential. Self explanatory. Happy trading. -Melon Farmer

melonfarmer5 Updated 

Bitcoin is in an uptrend. For the first time since November 10th, BTC has shown strength as it broke a previous high and claimed weekly support. The bear market might be over, but only time will tell. Invalidation at clear break below the weekly support zone. Happy trading. -Melonfarmer

melonfarmer5 Updated 

WILD has reclaimed the major trendline support. Not too many words necessary for this one. You know what to do 👀 Happy trading. -Melonfarmer

melonfarmer5 Updated 

A tired WILD has pulled back to the intersection of two key levels: the .618 fib and a major trendline support. If volume shows evidence of price acceptance above support, a strong push upward may ensue. Invalidation at clean break below .618 fib.

melonfarmer5 Updated 

Bitcoin is in a downtrend. For the first time since the December 4th crash, BTC has escaped its well-defined downward moving channel and into another downward moving channel. Higher highs are possible, but we must first maintain control of the weekly support. If we do hold this support zone, we may see movement to the upside of the channel (~52.5k) followed by...

melonfarmer5 Updated 

Bitcoin is in a downtrend. After reaching a new a new low ($45,467), BTC bounced back into the middle of the channel and into the value area. With momentum and volume, the naked POC (TP1) or the POC (TP2) may be touched, and a bounce back into the channel and downward may ensue. Conversely, if the VAH is flipped, we may see acceptance into a new channel with...

melonfarmer5 Updated 

After a quick retracement from today's over-stretched bull run, we may see it continue to the 34,400k resistance, after which it will plummet to lower lows (30k)