myleztone

myleztone

So the good news is, we broke out of the downward channel. The bad news is, we didn’t get enough support to hold above 46200 (in fact, we reflected off it, which is a bad sign). We’ve closed a couple of dailies since and the stochastic is in bear territory, so $42600 is the next downward target. I’m 95% sure we will hit that. If we get daily candles closing under...

myleztone

Following previous patterns, this could be the dip we've been waiting for. It could be days or a couple of weeks but it looks like we might see the new ATH in time for Santa. Don't forget there's usually a bearish retest before the pamp.

myleztone

SOL is following a solid trendline and while I would never short at this point, it's highly likely that the price will come down to that trendline sooner or later. If you look at the previous times this has happened it's been on an average of 16 bars on the 4 hour chart. Since we have a few significant green candles in play right now we could expect it to take a...

myleztone

Stochastic is looking strong, building higher lows for the last 3 weeks while in accumulation mode at around $0.0063. Expecting some kind of breakout here over the next day or two to the weekly R1 ($0.0073). Unsure where it will go from there but historically it would reject and accumulate again before finding a new local high. I don't expect we'll keep ranging...

myleztone

Not sure how low it will go but somewhere between 20%-30% lower than here seems likely over the next month or so. If you look at the previous upward trends, it always pulls back. We are right in the golden pocket so particularly if we don't get too much upward momentum from here then I think I'll be patient for my next opportunity to buy. Looking for the yearly...

myleztone

I see these arches regularly in crypto. You think it's a crab market again but in actual fact it's just finding its way back down to the lower support areas. Or, it could go up!

myleztone

Each cycle like this we hit the yearly pivot once, and I think we are due so while we have had this short squeeze going on for the last week or so, I can still see price action trending downwards until we hit the yearly pivot and then rebounding to 30k resistance until finding its way to to $42k, $55k and the all time high of $64k.

myleztone Updated 

$KSM was on fire after the announcement that parachain auctions were starting. A natural correction of the overhype has been in play for the last 12 hours, also dragged down by $BTC pulling back to 36k. $BTC is on the rise again but $KSM has broken out of its downward channel, coming back to test the top of it and not potentially breaking out to the upside. On the...

myleztone

The type of dip (descending arch) we are seeing on the hourly often has a sharp fall to follow. If we look at the last descending arch it was the last time there was a major dip. Following that we can estimate where it might fall to and take out a long position. For now it's a short. The first drop might bounce from the bottom of the golden pocket, which is also...

myleztone

I'd say another dick and balls pattern, the purple line. It will take a while to break out of this long term channel though.

myleztone

We aren't going anywhere. My opinion is that if we weren't going towards a lower bottom, we would be seeing more upside already. There is none. Whales are pushing the market down.

myleztone

We just broke out of the top of the descending triangle. If we bounce off the top of the descending triangle we might break out of the descending regression trend. If not, the next major support might be about 40k where the lower side of the regression trend meets the weekly S2.

myleztone

At first I thought 42k would be the bottom, and it still might be, but if it doesn't hold then I think we're looking at about a 40k bounce where the weekly S2 meets the daily S3. If this breaks then we are probably looking at a bounce from the 32000 mark. My buy orders are in at 40200 and another at 32500.

myleztone Updated 

This could be a symmetrical triangle pattern emerging here. $KSM is trending because the parachain auctions will be announced any day, so it might be a good investment no matter which way it goes.