remlog

remlog

TAP has all the requirements to be a a bearish shark harmonic pattern except for point D has not been met yet. TAP has also broken out of its 2016 downward channel after making a double bottom. The neckline of the double bottom is currently being tested as confirmation. Plenty of momentum on the weekly timescale for TAP to continue to point D. A short sell at...

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CVNA is in a falling wedge and failed to hold above the 236 from ATH to recent swing low, super bearish. Daily bearish divergence playing out on the MACD, RSI showing continuation of the bear trend. VFI is super bearish indicating low money flow. All on daily time scales. There is weak support at 27.65, with major supports being both 23.60 and the bottom of the...

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if bottom trend line breaks the measured move of the broadening wedge is 63.94, also the 50 retrace of recent swing low to swing high. possible retracement before SQ climbs back up to point D, also the 786 from the major swing high in September to swing low on December 24th 63.94 good area to long if the trend line breaks, or the bottom trend line with a tight...

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The BTCUSDSHORTS chart historically has been a good tool to look at Bitcoin's overall health in the cryptomarket. When BTC acts bearishly, BTCUSDSHORTS shorts go up. The inverse is also true - when BTC acts bullishly, BTCUSDSHORTS go down. Naturally shorts skyrocketed at the end of the great FOMO, with positive momentum lasting until April. However when BTC...

remlog Updated 

Bitcoin had been forming a nice rising wedge since June 29th, and overnight BTC dumped out its bearish reversal pattern. BTC was not strong enough to hold at the 382 fib, and will most likely test the 50 fib as support next. If it fails to find support at the 50, it will most likely complete it's measured fall from the rising wedge at around 6.2k, which is also...

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A few days ago I wrote about XRP forming a very nice sharp downward sloping bull flag , indicating seller exhaustion and a potential nice break to the upside to the 55 cent area. XRP did wind up breaking out, and on even greater volume than the previous two pumps. Unfortunately, BTC hit a wall that day, creating uncertainty in the general market, and soon after...

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Pharmaceuticals can take nasty falls if their products fail to pass FDA muster. These falls can provide nice opportunities for swing traders to play the gaps that are left by these sharp moves of price action. Lipocine Inc (LPCN) took a nasty dive on the 8th of May, leaving behind a pretty nice 31% gap that will eventually get filled. Since the drop, LPCN has...

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It looks like BTC is wedging up (teal triangle) after it broke out of the symmetrical triangle. Rising wedges are trend reversals, and are more valid in uptrends. BTC looks to have also double topped (1,2) which is also signaling a reversal. We are also seeing positive momentum drying up on the MACD and RSI oscillators: Buyers are getting exhausted, and...

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Ripple XRP to the tethered USD is forming a nice sharp downward sloping bull flag in a uptrend. A downward sloping bull flag indicates seller exhaustion, making the bullish pattern even stronger. And when this occurs in an uptrend, the bull case is even more valid. To further drive my point home, XRP is wicking off of the 20-day moving average on the daily chart,...

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Yesterday I wrote two possible scenarios of what may happen to BTC, the 2nd scenario played out. We witnessed a really nice clean hook and go off BTC. It tweezer bottomed twice on the top of the symmetrical triangle, utilizing that area as strong support, failing to even dip below to use that level as resistance, and it broke out nicely on even greater volume than...

remlog Updated 

BTC is consolidating healthily after a ~10% pump two days ago. At that time I also wrote about a false breakout of the rising wedge, and the probability of a symmetrical triangle being formed instead (teal triangle). I believe ever more strongly this is the case. The rising wedge had failed to make it's measured move of 5600, stopping short and double bottoming at...

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BTC is on the verge of breaking north out of its bull flag. It has hit the bottom of the flag multiple times on the 1hr, and formed a nice bullish tweezer bottom reversal (red circle) on the 4hr with a bullish RSI of 64.

remlog Updated 

As with many altcoins, VeChain looks to have broken out of it's huge falling wedge, but not by much and on low volume. It is currently flirting with the top of the wedge and using that line as support. A bull flag pennant has formed on the 1hr indicating that price action is currently neutral. A break out can go either way. If it breaks down negatively, the...

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BTC is currently retracing from yesterday's pump. Ideally we want to see it retrace to either the bottom of the previous rising wedge or hook off and go from the top of the symmetrical triangle it broke out of (both areas marked in green). A visit back to the 382 would also be a healthy retracement area. However if BTC retraces further, we will have had a false...

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BTC has broken north out of its symmetrical triangle, further confirming my idea that a short bull run has been cooking up, and now perhaps begun. Yesterday it fell out of its rising wedge, but when it double bottomed, it popped up right back into the wedge and formed a beautiful textbook symmetrical triangle. This makes sense with BTC now showing quintuple...

remlog Updated 

BTC fell out of its rising wedge but failed to make the measured move around the 5600 area, disrespecting the inherent nature of the pattern. Although it looks to be back in the same wedge, I believe it is now more probable to be in a symmetrical triangle. With quintuple MACD bullish divergence now showing on the negative oscillators on the daily, and with prices...