Here I give you the tips I've found most helpful when using the RSI for both trading and TA. Let me know what you think!
I talk about a price action concept that has helped me with trading and TA. It's a simple yet powerful concept. Bonus for no indicators needed! Let me know what you think.
Big dump overnight. I expect we'll continue to go down. 40-42k will be where we're looking to find support and 53k will be resistance. Very likely the start of a multi-week to multi-month bear market.
BTC with another pullback. For now found support at 52k. If it can stay above 53.5k then there's a chance for a quick correction but still not out of the woods until we're firmly above 60k. Good luck!
TLDW: Probably a little more downside followed by a relief rally. Areas of resistance at 55k and 58k. Need to get back over 60k to really be bullish once again. Some signs this may be the first leg of a larger downward move, but time will tell.
Bitcoin temporarily finding support. Will it hold or are we heading further down? I talk about the Ichimoku cloud and how it may give us some hints as to what's to come.
It looks like BTC will continue downwards. It has not been able to hold support above 58k and I expect it to act as resistance in the short term.
An update on BTC. Since my last video BTC has started to come down. Looking for support above 58k.
Please excuse the sloppiness of my chart. Doing this off my phone so not the ideal situation. An interesting chart. HCA, the largest for-profit hospital system in the US. You can see since COVID-19 the price has shot up over 300%. Currently looks to be consolidating and breaking this rather steep uptrend. Hasn't quite reached the 1.618 fib but very close. RSI...
First video of BTC. Got tired of typing out my thoughts, figured this is faster. Maybe a little disorganized and obviously not used to talking on video... hopefully that will improve with time :-P TLDR: I think BTC will start to consolidate after making a new ATH. Not enough volume IMO to push price upwards. Potential for more upside if we hold key levels at 63...
A potential short term correction for Bitcoin. Could still break bullish out of this triangle, but RSI seems to have already broken bearish which could mean price will shortly follow. Looking for retest of the 52k level like mentioned in a previous post. Also possible we only retest 58k. Would be a healthy correction if we do reach 52k and I'd expect ATHs after...
Looking for a weekly close above 58k and ideally above 60k. Otherwise there's a good chance we revisit 51k. Still would look bullish as long as we stay above 51k. Going below 51k at this point would not be good and could take us to 35k or lower. Positives: RSI has been moving into the bullish range. Findings support above 60 would be extremely...
Stellar Lumens may be gearing up for an epic adventure. Forming a text book cup and handle pattern on the weekly chart. If it can break .43c it appears to be clear sailing back to .79c and possibly it's ATH at .93c A move equal to the distance from the bottom of the cup to the top would be the expected break out target. A modest price target of $23. From it's...
XRP continues to bide it's time. Looking at the chart XRP appears to be moving within this ascending channel. It's reached the bottom support line and I expect it will start moving back upwards. A move to the top of this channel has XRP reaching somewhere near the $2.5 mark. The SEC lawsuit has caused XRP to lag behind other cryptos thus far. If the SEC lawsuit...
Doge has been in the dog house since May but is ready to come back and run. Perfect break out and retest. Still a good entry level with 180% gains on it's way to a new ATH. The break out prediction though takes to just over $1. Are the doggies coming out? It looks like they're ready.
CAKE has looked asleep for nearly a month ranging between $17 and $21. Price action is getting squeezed within a few different trend lines at the moment. I believe if it can break above $21 it'll have a shot at reaching it's previous ATHs and possibly higher. If it stays within this channel it can possibly reach as high as $450 or $500. A nearly 3000% move....
MATIC may have broken out already. It appears to have broken above the descending trending line, retested and now moving upwards. If it can get above $1.8 then it will likely retest it's ATH. A measured move out of this descending channel would take us near $5.60 which also happens to be the 1.618 of the fib extension. A bolder target assuming a move from the...
Could the Graph be setting up for a massive move? GRT has been consolidating since February and has formed this massive triangle. A breakout from here has targets past $10. It has yet to retest it's all time high which would also move us to $3. Still relatively small market cap. Important use case and has massive potential as a blockchain indexer.