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Quick ADA updateADA has broken out sideways from its Descending Triangle. ADA is ranging sideways. ADA is also in a Symmetrical Triangle pattern, which is indicated by the descending and ascending dashed black support and resistance lines. ADA is now in a massive Bollinger Bands Squeeze. A big move should be expected, what direction that is, remains to be seen. ADA is still below its Bollinger Bands Middle Band Basis 20 Period SMA on this 1d chart. Note that ADA has not closed a daily candle above its BB Basis since 15th Oct. At the moment, ADA is below its Least Squares Moving Average (LSMA) on this 1d chart. ADA needs to close this daily candle above the LSMA. ADA is above its Volume Profile Fixed Range POC for the fixed range of 5 daily candle that i have selected. ADA is also back above its Volume Profile Visible Range POC for this charts visible range. Overall Volume on Binance is still relatively low when compared to what ADA had a few months back around 25th August but note that the last 3 Volume Bars have been above its Volume 20 Period MA. For your viewing pleasure, I have also added support and resistance zones indicated by the back lines with orange shading. The Average Directional Index (ADX DI) is indicating Positive Momentum has RISEN slightly with the +DI (Green Line) at 9.45. Note that negative momentum DROPPED slightly more with the -DI (Red Line) at 13.39. Note however that while the trend strength is still strong above the 20 Threshold with the ADX (Orange Line) at 24.65 but note its has dropped below its 9 Period EMA (Black Line) which is at 25.22 indicating a weakening of trend strength, which could also be because of the continued sideways momentum. The On Balance Volume (OBV) is indicating an increase in upwards momentum, but note that the OBV (Blue Line) is still below its 9 Period EMA. The OBV needs to cross back over the 9 Period EMA and stay above its for continued upwards momentum. The Moving Average Convergence Divergence (MACD) is indicating that we have had the MACD Line (Blue Line) cross back above the Signal Line (Orange Line) but note that the MACD Line is still in the Negative Zone under the 0.0 Base Line. So what does all this mean? ADA is in a Bollinger Bands Squeeze, its debatable as to which direction ADA will pop. If you are Long, signals to look out for on this 1d timeframe are: 1: A successful daily close above the Bollinger Bands Middle Band Basis 20 Period SMA. 2: Upwards momentum with Expansion of the BB Upper and Lower Bands with the BB Middle Band sloping upwards. 3: A successful daily close above the descending trend-line. 4: A successful daily close above the LSMA. 5: OBV Line crossing back above its 9 Period EMA. 6: ADX Line crossing back above its 9 Period EMA. 7 +DI Line crossing back above the -DI Line. 8: MACD Line crossing back over the 0.0 Base Line into the Positive Zone. A key thing to remember is that sideways ranging is done within a range, not at a constant price. Apologies for the lack of posting, I've been crazy busy filming. I hope this is helpful with your trading and hodl-ing.
BINANCE:ADAUSD
by entertheroach
5
Ethereum - 1d chart analysisETH is in a Rising Wedge Pattern on this 1d timeframe. A Rising Wedge Pattern is a Bearish Chart Pattern. ETH needs to invalidate this Bearish Pattern. At the moment of typing this, ETH is still above its Bollinger Bands Middle Band Basis 20 Period SMA. At the moment, ETH is below its Least Squares Moving Average (LSMA) on this 1d timeframe. Note that a close below the LSMA and a successful retest as resistance is a potential sell signal for this indicator. ETH is still above its VPFR POC for the fixed range of 13 daily candle that i have selected. Note that ETH is also still above its VPVR POC for this charts visible range. Volume is low on this Binance chart & note that the Volume Bars have been decreasing in size and also note that the last two Volume Bars have been below its Volume 20 Period Moving Average. The Average Directional Index (ADX DI) is indicating the trend strength is strong with the ADX (Orange Line) at 27.18 and still safely above its 9 Period EMA (White Line) which is at 23.30. The +DI (Green Line) has dropped to 18.61 and the -DI (Red Line) has also dropped to 7.24. This indicates that while Positive Momentum has dropped, Negative Momentum has also dropped. The OnBalanceVolume (OBV) is indicating positive momentum has dropped. Note that the OBV (Blue Line) has dropped below its 9 Period EMA (Orange Line) indicating a weakening of positive momentum. The OBV (Blue Line) needs to stay above the Ascending Dashed Line, if the OBV cannot stay above this line, then ETH will drop out of its Rising Wedge Pattern to the downside. If the OBV (Blue Line) breaks back above the 9 Period EMA (Orange Line) then we may see ETH invalidate the Rising Wedge Pattern. ETH needs to invalidate the Rising Wedge Pattern. If ETH cannot invalidate this bearish pattern & if it eventually drops downwards out of the Rising Wedge, the VPFR POC and Bollinger Bands Middle Band may become a crucial support levels. If the BB Middle Band fails as support, then ETH may drop to its 50EMA level. As always, we also need to keep an eye on what BTC is doing. It should be a very interesting week for ETH. This is my very first Ethereum chart post, so I hope this is helpful with your Trading and Hodl-ing. Notes: LSMA = White dots on chart 50EMA = Yellow dots on chart Bollinger Bands = Grey bands on chart VPFR POC = Short horizontal red line on chart VPVR POC = Long horizontal red line on chart Rising Wedge = Ascending converging dashed lines on chart Volume MA = Orange Line going through Volume Bars on chart
BINANCE:ETHUSD
by entertheroach
1
VTHO - daily chart updateVTHO is still in a massive Symmetrical Triangle on this 1d timeframe and is fast approaching the APEX. VTHO has found some resistance from its 0.236 Trend-Based Fib Extension level. A close above this level and successful retest as support will be a very good sign, VTHO is in a Bollinger Bands Squeeze on this 1d timeframe. A big move normally proceeds after a BB Squeeze. At the moment of typing this, VTHO is above its Bollinger Bands Middle Band Basis 20 Period SMA. VTHO is also above its 50EMA and 200EMA. Note that Bothe the 50EMA and 200EMA are moving sideways. At the moment of typing this, VTHO is above its Least Squares Moving Average (LSMA) on this 1d timeframe. A daily candle close above the LSMA will be a very good sign as a close above the LSMA is a potential buy signal for this indicator. Volume is still relatively low on this Binance Chart and note that the last Volume Bar was below its Volume 20 Period SMA. VTHO is still above its Volume Profile Visible Range POC for this charts visible range. The Average Directional Index (ADX DI) is showing that the trend strength is strong with the ADX (Orange Line) at 23.49, curving upwards and above its 9 Period EMA which is at 21.84. The -DI (Green Line) is still above the -DI (Red Line) but the +DI (Green Line) has dipped to 29.45 and the -DI (Red Line) is at 14.17. This is indicating that Positive Momentum has dropped quite a bit but Negative momentum has only risen slightly on this 1d timeframe. The OnBalanceVolume (OBV) is indicating momentum is sideways within a range. At the moment the OBV (Blue Line) is still above its 9 Period EMA (Orange Line). the OBV (Blue Line) needs to stay above the 9 Period EMA (Orange Line) if we are to see a move upwards after the Bollinger Bands Squeeze. On this 1d timeframe, VTHO needs to close this daily candle above its Bollinger Bands Middle Band Basis 20 Period SMA as well as its LSMA, 50EMA and 200EMA levels. If the Bollinger Bands Squeeze ends with a big move upwards, i have added a Trend-Based Fib Extension to show some potential support and resistance that VTHO may encounter if the BB Squeeze ends with a big movement upwards. I hope this is helpful with your trading and hodl-ng.
by entertheroach
1
BTC longterm 1w chart analysisBTC has invalidated its very long Descending Triangle indicated by the 2 large black dashed lines. BTC is still in its Longterm Upwards Pitchfork Pattern on this 1w timeframe, note that BTC is back above the Pitchfork Median Line (The Thin Dashed Line) on this 1w timeframe. BTC is still safely above its 50EMA on this 1w timeframe. BTC is still above its Least Squares Moving Average (LSMA) on this 1w timeframe. At the moment, BTC is still above its Bollinger Band Middle Band Basis 20 Period SMA and also still above its Upper Band. Note that we have had expansion of the Bollinger Bands Upper and Lower Bands and the Middle Band is sloping upwards on this 1w timeframe. Note that BTC is above its Volume Profile Fixed Range POC for the fixed range of 4 weekly candle that i have selected. Note that BTC is still above its Volume Profile Visible Range POC for this charts visible range. Volume is worryingly low on this Bitstamp 1w chart compared to what BTC was getting in Dec 2020 to Jan 2021. Note that the last 22 weekly Volume Bars have been below its Volume 20 Period Moving Average. This is something to keep an eye on. For your viewing pleasure, i have added various support and resistance areas indicated by the black parallel lines with yellow shading. You can clearly see the interaction with these various areas. The Average Directional Index (ADX DI) is showing that the trend strength is strong on this 1w timeframe with the ADX (Orange Line) at 23.45 and is curving upwards and is getting very close to crossing back over and above its 9 Period EMA (Black Line) which is at 26.02. We have an increase in Positive Momentum with the +DI (Green Line) at 29.12. The -DI (Red Line) has also continued to drop to 14.13 indicating Negative Momentum has dropped. If the ADX (Orange Line) crosses back over the 9 Period EMA (Black Line) and stays above it, we can expect continued upwards momentum on this weekly timeframe so long as the +DI (Green Line) stays above the -DI (Red Line). The OnBalanceVolume (OBV) is showing strong upwards momentum and note that the OBV (Blue Line) is still above its 9 Period EMA (Orange Line) for this 1w timeframe. Using the OBV indicator, the OBV line needs to stay above the Ascending Dashed Line, the 9 period EMA and the Horizontal Dashed Line. The OBV also needs to break above its Ascending Dotted Line which when combined with the Ascending Dashed Line actually looks like an Ascending Wedge on the OBV indicator. This is something to keep an eye on. A few scenarios to think about: 1: BTC may continue to walk up the Upper Bollinger Band like we saw before from the week of 19th Oct 2020 up until the week of the 15th Feb 2021. 2: BTC may consolidate sideways within a range between its new ATH and its 2nd support and resistance area before continuing upwards. 3: BTC may drop back to either its VPVR POC or its VPFR POC as potential support levels. 4: BTC may drop back to its LSMA as a potential support. 5: BTC may drop back under the Bollinger Bands Upper Band, consolidate above the Middle Band and then continue upwards. 6: BTC may drop back to its Bollinger Bands Middle Band as potential support. 7: BTC may drop back to its 50EMA (which is a worse case scenario but unlikely at the moment). The volume shown on this chart doesn’t take into account volume from other exchanges, but we need to keep an eye on the Volume Bars and whether or not the Volume Bars can cross back above its Volume 20 Period SMA on this 1w timeframe. We also need to keep an eye on whether or not the ADX can cross back above the 9 Period EMA as well as what I’ve mentioned above regarding the OBV indicator. We also need to keep an eye on how BTC closes this weekly candle. Here is a wider view of this longterm 1w chart. Note that this post is just focusing on the very longterm and not taking into consideration or analysing what is happening on lower timeframes, which you should be doing. I hope this is helpful with your trading and hodl-ing.
BITSTAMP:BTCUSD
by entertheroach
4
ADA - 1d chart updateADA is still in a Descending Triangle on the Daily Chart. Note that a descending triangle is a bearish pattern. ADA needs to break back above the descending trend-line for renewed upwards momentum. ADA is fighing to stay above its Bollinger Bands Middle Band Basis 20 Period SMA. ADA is back above its Least Squares Moving Average (LSMA) for this 1d timeframe. A candle above the LSMA is considered a buy signal for traders who use this indicator. Today’s Binance Volume is lower than yesterday’s and note that the Volume Bar is back under its Volume 20 Period Moving Average. ADA is still below its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range. ADA is back above its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 5 daily candles i have selected. If we look at the On Balance Volume (OBV) the OBV (Blue Line) has increased but note that it is still under its 9 Period EMA (Orange Line). If you are waiting for confirmation of renewed upwards momentum then you need the OBV (Blue Line) to cross back above the 9 Period EMA (Orange Line) and stay above. The Average Directional Index (ADX DI) is indicating the trend strength has dropped with the ADX (Orange Line) at 29.83 still below its 9 Period EMA (Black Line) which is at 32.67. The -DI (Red Line) has dropped to 17.92 and the +DI (Green Line) has dropped to 13.18. This tells me that both Negative Momentum and Positive Momentum has dropped and that the trend strength is still uncertain until the ADX (Orange Line) crosses back above the 9 Period EMA (Black Line) on the id timeframe. The Moving Average Convergence Divergence (MACD) is indicating ADA still has a while to go on this 1d timeframe before we see the MACD Line (Blue Line) cross back over the Signal Line (Orange Line). Note that we do have lessoning Histograms but note that the MACD Line (Blue Line) is still under the 0.0 Base Line in the Negative Zone. The Descending Trend-Line of the Descending Triangle is a major resistance level. I wouldn’t get excited until ADA crosses and CLOSESs a daily candle ABOVE this level, and unless the OBV (Blue Line) crosses back above the 9 Period EMA (Orange Line) on this 1d timeframe, then ADA will continue to create Lower Highs. I hope this is helpful with your trading and hodl-ing. Notes: Descending Triangle = Dashed Lines on Chart LSMA = Black Squiggly Line on Chart Bollinger Bands = Grey Bands on Chart VPVR POC = Long Horizontal Red Line on Chart VPFR POC = Short Horizontal red Line on Chart Volume = Red and Green Bars bottom of Chart. Volume MA = Orange Line going through Volume Bars bottom of Chart.
BINANCE:ADAUSD
by entertheroach
6
ADA - Keep an eye on the MACD 1D timeframeADA is still below its Bollinger Bands Middle Band Basis 20 Period SMA. Note that we have had expansion of the Lower Bollinger Band. ADA is below its Least Squares Moving Average (LSMA) fo this 1D timeframe. Note that ADA has also found some resistance at this level. ADA is still ranging sideways within a support/resistance area. Using the 20,60,120,30 settings note that ADA is still in the Bullish Zone of the Ichimoku Cloud. The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating the mid-point of the short term momentum is sideways at the moment. Note that ADA is below this level. The Ichimoku Cloud Base Line (Kijun Sen) is indicating the mid-point of the mid-term momentum is sideways at the moment, The Ichimoku Cloud Lagging Span (Chikou Span) is indicating momentum is downwards at the moment. Note that The Lagging Span (Chikou Span) is inside the price from 30 periods ago indicating uncertainty at the moment. Volume is still relatively low on this 1D timeframe, note that the last 5 daily Volume Bars have been under its Volume 20 Period MA. The Average Directional Index (ADX DI) is indicating the trend strength has dropped with the ADX (Orange Line) at 32.86 below its 9 Period EMA (Black Line) which is at 39.50. The -DI (Red Line) has increased slightly to 19.00 and the +DI (Green Line) has dropped to 13.78. This indicates that Negative Momentum is still stronger than Positive Momentum on this 1D timeframe. The Moving Average Convergence Divergence (MACD) is one to keep an eye on. Note that the MACD Line (Blue Line) is still below its Signal Line (Orange Line). If the MACD Line (Blue Line) drops below the 0.0 Base Line then we may see a big drop in price on this 1D timeframe. Note that the Red Histogram has been decreasing in size so a drop is not set in stone yet. So what is all this telling me………… at the moment there is uncertainty in the air for ADA, if the MACD Line (Blue Line) crosses under the 0.0 base line then we may possibly see a big drop as that may also bring the Lagging Span (Chikou Span) under the price from 30 Period ago, if this happens then the price may drop the price under its support/resistance zone turning that area into resistance. If there is a drop, ADA will possible drop as far as its Ichimoku cloud Base Line (Kijun Sen) level or Leading Span A (Senkou Span A) support levels.. So the MACD Line (Blue Line), Ichimoku Cloud Lagging Span (Chikou Span) and the upper Support/Resistance area are crucial to watch on this 1D timeframe as there may be opportunities to acquire ADA at a cheaper price. I hope this is helpful with your Trading and Hodl-ing.
BINANCE:ADAUSD
by entertheroach
BTC - Let's have a look at the Weekly ChartBTC - let’s have a look at the 1 week chart for a change: Note that BTC is still above its 50MA for this 1W timeframe. BTC is still above its Bollinger Bands Middle Band Basis 20 Period SMA on this 1W timeframe. Note that the Upper and Lower Bollinger Bands are looking very close to expanding, at the moment, if they do expand, this would be expansion for the downside. BTC is still in its longterm upwards Pitchfork Pattern (A,B,C). Note that BTC has found some support from its Pitchfork Median Line. A weekly CLOSE ABOVE this level is crucial if you are waiting to go LONG. A CLOSE BELOW this level will be great if you are waiting to go SHORT. The week hasn’t finished yet but its very likely that BTC will close this weekly candle as a massive Bearish Engulfing Candle. Note that it is a very similar looking candle to the week of 10th May which, if true, may lead to further drops. BTC is still above its Least Squares Moving Average (LSMA) level on this 1W timeframe. BTC is back below its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 8 weekly candles that i have selected. It is very crucial that BTC CLOSES a weekly candle ABOVE this POC. Note that Volume is still relatively low and note that the Volume Bars have not been above its Volume 20 Period MA since the week of the 17th May. I have added the crucial support and resistance areas on this weekly chart, you can clearly see that BTC is sandwiched in between a rock and a hard place. The Average Directional Index (ADX DI) is indicating the overall trend strength has weakened dramatically on this 1W timeframe. The ADX (Orange Line) has dropped to 27.18 and is below its 9 Period EMA (Black Line) which is at 34.01. The +DI (Green Line) is at 19.82 and the -DI (Red Line) is at 18.80. At the moment, Positive Momentum is still dominant on this 1W timeframe, but note that the +DI (Green line) is pointing downwards and the -DI (Red Line) is pointing upwards, this indicates we may see Negative Momentum become dominant on this 1W timeframe if the +DI (Green Line) crosses back UNDER the -DI (Red Line). The Chaikin Money Flow (CMF) is actually indicating that BTC is still being Accumulated with the CMF (Green Line) in the accumulation zone at 0.12. Note that we have accumulation strength because the CMF (Green Line) is still above its Least Squares Moving Average (LSMA) which is at -0.01 for this 1W timeframe. The Relative Strength Index (RSI) is indicating momentum is downwards on this 1W timeframe at the moment. Note that the RSI (Purple Line) has crossed back UNDER its 9 Period EMA (Orange Line) which is a sign of strong Negative Momentum on the 1W timeframe. The Moving Average Convergence Divergence (MACD) is crucial to watch because if you are LONG then you don't want the MACD Line (Blue Line) to cross back UNDER the Signal Line (Orange Line) for this 1W timeframe. Note that the MACD Line (Blue Line) is still above the Signal Line (Orange Line) and is also still in the positive zone for this 1W timeframe. For this 1W timeframe, the support area at $42,721 - $40,670 is absolutely crucial to CLOSE a weekly candle ABOVE. Note that this level also has the Pitchfork Median Line running through it as well as the Bollinger Bands Middle Band Basis 20 period SMA. If those levels fail as support then BTC will head to the LSMA and then 50MA level. If we do get an influx of upwards momentum, we STILL need to keep an eye on how this weekly candle CLOSES, because the Bearish Engulfing Candle could become a potential Hanging Man Candle, which would be potentially more devastating. Note that CONFIRMATION on what candle this weekly candle becomes and what direction, will be CONFIRMED on how the NEXT weekly candle ends. As with everything, depending on what timeframe you are in be it short-term, mid-term or longterm, confirmation is key. It should be a very interesting couple of days. I hope this is helpful with your trading and hodl-ing. Notes for those who don’t know: LSMA = Black Squiggly Line on chart 50MA = Blue Squiggly Line on Chart Bollinger Bands = Grey Bands on Chart Pitchfork Pattern = A,B,C Pattern on Chart VPFR POC = Short Horizontal Red Line on Chart Volume Bar = Bottom of Chart Volume 20 Period MA = Orange Line Going through volume Bars on Chart Support & Resistance Areas = Horizontal Parallel Black Lines with Yellow Shading on Chart
BITSTAMP:BTCUSD
by entertheroach
4
VeChain - 4hr Chart UpdateVeChain 4hr Chart Update As usual with the massive Longs Liquidation yesterday, our beloved VeChain got hit with one of the worst drops compared to other assets, basically erasing all the gains from 31st August. More on this later. VET is still within its upwards Pitchfork Pattern (A,B,C), it actually dropped all the way to its lower blue support line and bounced back up. VET eventually needs to make it back ABOVE the Pitchfork Median Line. VET is below its 50EMA on this 4hr timeframe. VET is below its 200EMA for this 4hr timeframe. At the moment of typing this, VET has found some resistance from its Least Squares Moving Average (LSMA) Level. We need a successful 4hr candle CLOSE ABOVE this level for continued upwards momentum. VET is way below its Bollinger Bands Middle Band Basis 20 Period SMA, we have had massive expansion of the Upper and Lower Bands but note that the Upper Band is starting to point downwards and the Lower Band is starting to curve around indicating we may see some consolidation and reduce volatility. VET is still above the Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range. VET is back above its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed range of 10x 4hr Candles that i have selected. We have seen increased Volume on this 4hr timeframe and note that the last 2 4hr Volume Bars have closed green and above its Volume 20 Period MA. The Average Directional Index (ADX DI) is indicating the trend strength is strong with the ADX (Orange Line) at 45.40 above its 9 Period EMA (Black Line) which is at 40.72. Note that the +DI (Green Line) is pointing upwards at 9.94 and the -DI (Red Line) is pointing downwards at 37.29. This tells me that while Negative Momentum is strong, it has lost some momentum and Positive Momentum is starting to increase. We need the +DI (Green Line) to cross back over and ABOVE the -DI (Red Line) for renewed positive upwards momentum strength. The Chaikin Money Flow (CMF) is indicating that VET is back in the Accumulation Zone. Note that the CMF (Green Line) is below its Least Squares Moving Average (LSMA) which shows a lack of accumulation strength. We need the CMF (Green line) to cross back ABOVE the LSMA (Blue Line) for renewed upwards momentum. I got asked yesterday, “why does VeChain suffer the most when Binance Futures gets liquidated? is it because of weak hands?” It’s nothing to do with weak hands, from my opinion VeChain suffers because it doesn’t yet have the liquidity cushion of other exchanges like Coinbase, Bitstamp, Kraken and many other major exchanges that BTC, ETH and ADA have to help cushion any major drop, so when Binance Longs gets gutted by Binance themselves, VET suffers greatly. This is just my opinion, but it actually makes sense, so it's probably true ;-). Hopefully after the release of POA2.0, we’ll see VeChain and VTHO added onto some of other major exchanges increasing liquidity. I hope this is helpful with your Trading and Hodl-ing. Notes for those who don’t know: LSMA = Black Squiggly Line on chart 50MA = Yellow Squiggly Line on Chart 200MA = Red Squiggly Line on Chart Bollinger Bands = Green Bands on Chart Pitchfork = A,B,C Pattern on Chart VPVR POC = Long Horizontal Red Line on Chart VPFR POC = Short Horizontal Red Line on Chart Volume Bar = Bottom of Chart Volume 20 Period MA = Orange Line Going through Volume Bars
BINANCE:VETUSD
by entertheroach
1
BTC - Let's have a look at the Daily ChartBTC Update: BTC has finally made it above its major resistance area and turned that level into support. BTC is back below its Pitchfork (A,B,C) Median Line. BTC is still above its Bollinger Bands Middle Band Basis 20 Period SMA. Note that Volatility is actually still low on this 1D timeframe because we do not yet have expansion of the Upper and lower Bollinger Bands. Note that the Upper Band is starting to point Downwards and the Lower Band is still moving upwards indicating we may see a Bollinger Bands Pinch on this 1D timeframe. At the moment of posting this, BTC has dropped below its Least Squares Moving Average (LSMA). A close above this level is crucial. A close below the LSMA will probably mean a drop back into the support area and possibly the BB Middle Band Basis. Using the 20,60,120,30 settings for the Ichimoku Cloud, note that we now have a Cloud (Kumo) Twist into a new Bullish Green Cloud for this 1D timeframe. Note that BTC is still above its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 7 daily candles i have selected. BTC is still above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range. Note that Volume today is still low and the Volume Bar is still under its Volume 20 Period Moving Average, that could change as the day ticks on. Using Simple Moving Averages, note that the 50MA is still rising and it looks like we may very soon see a 50MA cross back over and above the 200MA creating a GOLDEN CROSS for this 1D timeframe. The Average Directional Index (ADX DI) is indicating the trend strength has increased with the ADX (Orange Line) at 28.17 heading sideways but very close to crossing over and above its 9 Period EMA (Black line) which is at 28.20. The +DI (Green Line) has dropped to 23.21 and the -DI (Red Line) has increased to 11.47 at the moment. This means that Positive momentum has dropped and Negative momentum has increased on this 1D timeframe. Note however that there is still a big gap between the +DI (Green Line) and -DI (Red Line) so the price would have to drop substantially for Negative momentum to become dominant on this 1D timeframe. The Relative Strength Index (RSI) is indicating momentum is downwards on this 1D timeframe at the moment. Note that the RSI (Purple Line) is back below its 9 Period EMA (Red Line) indicating increased strength for negative momentum at the moment. So key levels to watch for a daily close ABOVE or BELOW on this 1D timeframe are the LSMA, VPFR POC and the Upper Support Zone. The Bollinger Bands Middle Band Basis becomes the next crucial level to watch if those previous levels mentioned fails as support. I hope this is helpful with your Trading and Hodl-ing. Notes for those who don’t know: LSMA = Black Squiggly Line on chart 50MA = Yellow Squiggly Line on Chart 200MA = Red Squiggly Line on Chart Bollinger Bands = Grey Bands on Chart Pitchfork = A,B,C Pattern on Chart Ichimoku Cloud = Red and Green Cloud Pattern on Chart VPVR POC = Long Horizontal Red Line on Chart VPFR POC = Short Horizontal Red Line on Chart Volume Bar = Bottom of Chart Volume 20 Period MA = Black Line Going through volume Bars Support Areas = Horizontal Parallel Black Lines with Yellow Shading
BITSTAMP:BTCUSD
by entertheroach
5
BTC - could we soon witness a GOLDEN CROSS?BTC Update: BTC is still safely above its 50MA and its 200MA. Note that the 50MA is pointing upwards and the 200MA is pointing sideways. If the support levels hold strong and if and when BTC is able to push above the Upper Resistance Zone and the Pitchfork Median Line then........ we will witness a GOLDEN CROSS on this 1D timeframe. BTC is back above its Bollinger Bands Middle Band Basis 20 Period SMA for this 1D timeframe. Note that the Upper Band is starting to point downwards and the lower Band is pointing upwards indicating volatility has slowed on this 1D timeframe. With this consolidation, we are seeing the start of a potential Bollinger Band Pinch, which could lead to a big volatility induced move. BTC has found some resistance from its Least Squares Moving Average (LSMA). Note that a daily close ABOVE the LSMA is a potential buy signal. BTC is above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range. At the moment, BTC is fighting to stay above its Volume Profile Fixed Range Point of Control (VPFR POC) the the fixed range of 14 daily candles that I’ve selected. Volume has increased and note that yesterday and today’s volume Bar are above its Volume 20 Period Moving Average. BTC is still in an Upwards Pitchfork Pattern (A,B,C). Note that BTC has crossed under the Pitchfork Median Line (Middle Dashed Line). The Pitchfork Median Line is a crucial level to cross and close back above. BTC has found strong resistance from its Upper Resistance Area of $50,604 - $49,087. BTC has now found strong support from its new Support Area of $46,693 - $46,231. If i just use the Ichimoku Cloud (Kumo) without the other IC indicatiors, you can clearly see that BTC has found VERY STRONG support from the Ichimoku Cloud Leading Span B (Senkou Span B) support Level. This level also coincides with the new Support Area I’ve added. If we look at the Average Directional Index (ADX DI) we can see the trend strength has dropped with the ADX (Orange Line) at 26.50 and still under its 9 Period EMA which is at 31.22. The +DI (Green Line) is pointing upwards at 18.46 and the -DI (Red Line) is pointing downwards at 14.86. This means that while the Trend strength has dropped, Positive Momentum has actually increased and Negative Momentum has decreased. The further the +DI (Green Line) gets away from the -DI (Red Line) the better. The Relative Strength Index (RSI) is indicating Momentum is upwards at the Moment. Note that the RSI (Purple Line) is pointing upwards and looking like it may cross back above its 9 Period EMA (Red Line), this will be a good sign of upwards momentum strength for this 1D timeframe if that happens. Note that the RSI still has plenty of room to move up before becoming overbought on this 1D timeframe. If you are uncertain to go long, then confirmation will be when BTC successfully crosses ABOVE and CLOSES a daily candle ABOVE the Upper Resistance Area. If you are uncertain to go short, then you would wait for BTC to successfully break UNDER and CLOSE a daily candle UNDER the New Support Area and the Leading Span B (Senkou Span B) support Level. Remember that a close ABOVE the LSMA is also a potential BUY signal for this indicator. Full Bullish Confirmation on this 1D Timeframe will be when the Leading Span A (Senkou Span A) crosses back above the Leading Span B (Senkou Span B) cloud support creating a Cloud (Kumo) Twist a new Bullish Green Cloud for this 1D timeframe. Also, don't forget to get your cameras ready for when that 50MA & 200MA Golden Cross happens. ;-) I hope this is helpful with your Trading and Hodl-ing..... cause it does take a while to type it all up :-) Notes for those that don’t know: 50MA = Yellow Squiggly Line on chart 200MA = Red Squiggly Line on chart LSMA = Black Squiggly Line on chart Bollinger Bands = Grey Bands on chart on chart Ichimoku Cloud = Red and Green fluffy Cloud on chart Pitchfork = A,B,C Lines on chart VPVR POC = Long Horizontal Red Line on chart VPFR POC = Short Horizontal Red Line on chart Volume Bars = Bottom of Chart Volume Moving Average = Black Line going through Volume Bars Support and Resistance Areas = Horizontal Black Lines with Yellow Shading
BITSTAMP:BTCUSD
by entertheroach
6
BTC update - On possibly the sexiest 1D chart of the evening ;-)Lets have a look at the BTC 1D chart using the Ichimoku Cloud with the 20,60,120,30 settings and a few other indicators and squiggly lines: BTC is in the Bullish Zone of the Ichimoku Cloud for this 1D timeframe. BTC has closed 4 daily candles within the Bullish Zone for this 1D timeframe. The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the mid point of the sort-term momentum is sideways. The Ichimoku Cloud Base Line (Kijun Sen) is indicating that the mid point of the mid-term momentum is sideways. The Ichimoku Cloud Lagging Span (Chikou Span) is indicating momentum is downwards at the moment. Note that the Lagging Span (Chikou Span) is still safely above the Price from 30 Periods ago. Note that the gap between the Ichimoku Cloud Leading Span B (Senkou Span B) and Leading Span A (Senkou Span A) has shrunk so if BTC stays in the Bullish Zone, we may eventually get a cloud (Kumo) Twist into a new Bullish Green Cloud for this 1D Timeframe. BTC is still above its Bollinger Bands Middle Band Basis 20 Period SMA for this 1D timeframe. Note that the Upper Band is moving downwards and the Lower Band is moving upwards indicating we may see some consolidation and a drop to the Middle Band Basis. BTC found strong resistance and is below its Least Squares Moving Average (LSMA) level. A candle close below the LSMA is a possible SELL signal for traders who use this indicator. A candle close above the LSMA is a BUY signal. Note that BTC is still above its 50EMA for this 1D timeframe and now is quite a distance safely away from it. BTC is above its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range i have selected. BTC is still above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range. Note that volume has increased but the volume Bars are still under its Volume 20 Period Moving Average. I have added a few potential support zone areas just incase BTC shits the bed ;-). I could add more but didn’t want to make this chart to messy ;-). I have also added a Zone where BTC has found repeated resistance, so a close above this level is crucial for continued upwards momentum. The Average Directional Index (ADX DI) is indicating the trend straight has dropped slightly with the ADX (Orange Line) at 37.42 but still above its 9 Period EMA (Black Line) which is at 36.71. The +DI (Green Line) has dropped to 27.02 and the -DI (Red Line) has risen to 13.70. This is indicating a decrease in Positive Momentum and an increase in Negative Momentum. Note that the +DI (fGreen line) is still above the -DI (Red Line). If the ADX (Orange Line) crosses back under the 9 Period EMA (Black line) then this could lead to a further drop on this 1D timeframe. On the plus side, we still do have some distance separating the +DI (Green Line) and -DI (Red Line) which is a good thing. The Relative Strength Index (RSI) is indicating momentum is downwards at the moment. Note that the RSI (Purple Line) is below its 9 Period EMA (Red Line) which is a sign of strength for downwards momentum. On the plus side, the RSI is a fast reacting indicator so it does mean that BTC still has room to move up before becoming Overbought on this 1D timeframe. A very good sign will be if BTC closes this daily candle above the Leading Span B (Senkou Span B) cloud support in the Bullish Zone. A close below the Leading Span B (Senkou Span B) cloud support in the Equilibrium Zone will most likely lead to further drops to the below support zones, so it’s crucial for BTC to stay above and more importantly CLOSE ABOVE this level. Full Bullish Confirmation for this 1D timeframe will be when the Leading Span A (Senkou Span A) crosses back above the Leading Span B (Senkou Span B) level creating a Cloud (Kumo) Twist into new Bullish Green Cloud for this 1D timeframe. Again my post are not price prediction post but more educational about what BTC has above and below it & hopefully this post has explained what the various indicator that i have used are actually indicating. I hope this is helpful with your trading and hodl-ing.
BITSTAMP:BTCUSD
by entertheroach
10
ADA - 1D chart updateADA 1D chart update using the Ichimoku Cloud 20,60,120,30 settings: The Ichimoku Cloud Lagging Span (Tenkan Sen) is indicating that the mid point of the short-term momentum is upwards. The Ichimoku Cloud Base Line (Kijun Sen) is indicating that the mid point of the mid-term momentum is sideways. The Ichmoku Cloud Lagging Span (Chikou Span) is indicating that momentum is upwards at the moment. Note that the lagging Span (Chikou Span) is safely above the Price from 30 Periods ago. ADA is still safely in the Bullish Zone of the Ichimoku cloud. Note that we have had a Cloud (Kumo) Twist into a new Bullish Green Cloud for this 1D timeframe. For the Ichinoku Cloud System, this Cloud (Kumo) Twist is FULL Bullish Confirmation for this 1D timeframe. ADA is still above the Bollinger Bands Middle Band Basis 20 Period SMA. After such a big rise, a re-tracement back to the BB Middle Band shouldn’t come as a surprise if it happens. Note that the Lower BB is moving upwards indicating we may see some consolidation or a potential dip to the VPVR POC. ADA is below its Least Squares Moving Average (LSMA) a close below this level is a potential SELL signal for traders who use this indicator. ADA is still safely above its 50EMA for this 1D timeframe. For your viewing pleasure, I have added various potential support zones. Note that the last 3 daily Volume Bars have closed above its Volume 20 Period Moving Average, we still have a few hours left to see if this daily Volume Bar closes above or below the volume 20 Period Moving Average and whether it closes Positive (Green) or Negative (Red). Note that ADA is still above its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range i have selected. Note that ADA is still above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range. The Average Direction Index (ADX DI) is indicating the trend strength is very strong with the ADX (Orange Line) at 60.16 above its 9 Period EMA (Black Line) which is at 54.99. The +DI (Green Line) has dipped to 29.82 but note that the -DI (Red Line) has also dipped to 4.72, this indicates that while Positive Momentum has dropped, so has Negative Momentum. This is a good thing and indicates that while Positive Momentum weakened, Negative Momentum has also weakened slightly for this 1D timeframe. If we close this daily candle BELOW the LSMA then we may see a further drop into the 1st potential support zone area and the VPFR POC, alternatively, depending on what BTC does, ADA could consolidate & range sideways within a range above the VPFR POC. If ADA does drop to the Conversion Line (Tenkan Sen) or the Bollinger Bands Middle Band Basis then those could be good levels to acquire more ADA at a cheaper price. I’m just posting this for the ADA 1D timeframe but you can easily apply these indicators to higher timeframes to enable to to pre-empt any potential upwards or downwards movement on the lower timeframes. I hope this is helpful with your trading and hodl-ing.
BINANCE:ADAUSD
by entertheroach
7
VTHO - 1D Chart with the Ichimoku CloudVTHO 1D chart update using the Ichimoku Cloud with the 20,60,120,30 settings: Note that VTHO is in the Ichimoku Cloud Equilibrium Zone for this 1D timeframe. The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the mid point of the short-term momentum is sideways. The Ichimoku Cloud Base Line (Kijun Sen) is indicating that the mid point of the mid-term momentum is sideways. The Ichimoku cloud Lagging Span (Chikou Span) is indicating that the momentum at the moment is downwards. Note that the Lagging Span (Chikou Span) is still above the candle from 30 periods ago. VTHO has found some support from around its Conversion Line (Tenkan Sen) level for this 1D timeframe. A good sign will be if VTHO manages to stay above & close a daily candle above this level. Note that VTHO has dropped below its Volume Profile Fixed range Point of Control (VPFR POC) that i have selected on this chart. VTHO is still above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range. Note that Volume is still very low on this finance chart and the last 6 Volume Bars have been below its Volume 20 Period Moving Average. VTHO is still above its Bollinger Bands Middle Band Basis 20 Period SMA, VTHO may find support at this level if the Conversion line (Tenkan Sen) support fails. VTHO had dropped below its Least Squares Moving Average (LSMA) 3 days ago which is a sell signal for most traders who use this indicator. If you are LONG, then for this indicator confirmation of renewed upwards momentum will be when VTHO closes a daily candle back above the LSMA. VTHO has found resistance from its descending resistance line. A close above this and successfully retest as support is crucial for continued upwards momentum. The Average Directional index (ADX DI) is showing the trend strength has dipped with the ADX (Orange Line) at 51.90 but note its still above its 9 Period EMA (Black Line) which is at 50.72. The +DI (Green Line) has dipped to 28.34 and the -DI (Red Line) has risen to 14.12, this indicates that Positive Momentum has dropped and Negative Momentum has increased. If the ADX (Orange Line) crosses back under the 9 Period EMA (Black line) then we may see a bigger drop in price for this 1D timeframe. What we don't want to happen is the +DI (Green Line) to cross back under the -DI (Red Line), that would mean that Negative Momentum has completely overtaken Positive Momentum for this 1D timeframe. The Relative Strength Index (RSI) is indicating momentum is downwards at the moment. Note that the RSI (Purple Line) has dropped below its 9 Period EMA (Orange Line) this is an indication downwards momentum strength. If you are LONG and using this method, full bullish confirmation for this 1D timeframe will be when the Ichimoku Cloud Leading Span A (Senkou Span A) crosses back over and above the Leading Span B (Senkou Span B) level creating a new Bullish Green Cloud (Kumo) for this 1D timeframe. If the Conversion Line (Tenkan Sen) fails as support then VTHO has the Bollinger Bands Middle Band Basis 20 Period SMA, the Base Line (Kijun Sen) as well as its Ascending Support Line as potential support levels. As always we have to keep an eye on what BTC is doing but looking at this analysis, there could be some good opportunities to acquire more VTHO at a much cheaper price. I hope this is helpful with your trading and hodl-ing.
by entertheroach
VeChain - 1D chart updateVeChain 1D chart update using the 20,60,120,30 Ichimoku Cloud Settings: The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the mid point of the short-term momentum is sideways. The Ichimoku Cloud Base Line (Kijun Sen) is indicating that the mid point of the mid-term momentum is sideways. The Ichimoku Cloud Lagging Span (Chikou Span) is indicating momentum at the moment is upwards. Note that the Lagging Span (Chikou Span) is way above the price from 30 Periods ago. Note that VET is inside the Ichimoku Cloud Equilibrium Zone for this 1D timeframe. VET is above its Volume Profile Visible Range Point of Control (VPVR POC) for this chart’s visible range. VET is above its Volume Profile Fixed Range Point of Control (VPFR POC) for this chart’s fixed range i have selected. Volume is still relatively low for this 1D timeframe and notice that the last 4 Volume Bars have been below its Volume 20 Period Moving Average. Note that VET is still safely above its longterm upwards Trend-line. VET is in a triangle pattern so be on the lookout for which direction VET may break out from, at the moment it looks like VET will break upwards. VET has found some resistance from its triangle descending line. VET is above its Bollinger Bands Middle Band Basis 20 Period SMA for this 1D timeframe. Note that the Lower BB is moving upwards and the Upper BB is moving sideways, this shows me that we may see a bit of consolidation and also that VET still has a lot room to move up before volatility becomes overextended. The Average Directional Index (ADX DI) is indicating the trend is sideways with the ADX (Orange Line) at 46.99 and still above its 9 Period EMA (Black Line) which is at 46.47. The +DI (Green Line) is sideways at 23.03 and the -DI (Red Line) is at 8.41. Note that the +DI (Green Line) is sideways and the -DI (Red Line) is pointing downwards, this indicates that while Positive Momentum is sideways, Negative Momentum has dropped for this 1D timeframe. Please be aware that if the ADX (Orange Line) drops below the 9 Period EMA (Black Line) then we will may see a price drop on this 1D timeframe. The Relative Strength Index (RSI) is also indicating momentum is upwards at the moment. Note that the RSI (Purple Line) has just crossed back above its 9 Period EMA (Orange Line) which is a good sign of upwards strength for this 1D timeframe. Note that the RSI (Purple Line) still has room to move up before entering the Overbought Zone on this 1D timeframe. Note that being in the Overbought Zone doesn't mean the price will drop as the RSI (Purple Line) can go up, down and also range sideways in the Overbought Zone for a prolonged period of time. If you are LONG and need to wait for confirmation of renewed upwards momentum then a successful close above the Potential Resistance Line and retest of that as support is crucial. If you use the Ichimoku Cloud System as your confirmation then you will wait for the price to break above the Leading Span B (Senkou Span B) resistance into the Bullish Zone and a successful retest of the Leading Span B (Senkou Span B) as support, FULL Bullish Confirmation for this 1D timeframe will be when the Leading Span A (Senkou Span A) crosses back above the Leading Span B (Senkou Span B) creating a new Bullish Green Cloud (Kumo) for this 1D timeframe. Using this system I’ve posted, if VET cannot make it above its Resistance Area and drops, it will find potential support from its Conversion Line (Tenkan Sen), Base Line (Kijun Sen), its Potential Support Area and also the Leading Span A (Senkou Span A) support level. There are other timeframes with many other support & resistance levels to take into account but I’m just focusing on the 1D timeframe for this post. This chart may seem messy to some and there is a lot going on, but as I’ve stated before, my charts are more TA educational instead of price predication, so hopefully I’ve succeeded in explaining to you what information each indicator is actually showing us. All in all, depending on what BTC does, VeChain is looking really good. I hope this is helpful with your trading and hodl-ing.
BINANCE:VETUSD
by entertheroach
2
Quick and Dirty BTC updateBTC is still above its upwards Pitchfork Median Line (A,B,C) on this 1D timeframe. BTC is still above its Bollinger Bands Middle Band Basis 20 Period SMA on this 1D timeframe. Note that the 50EMA (Yellow Line) has finally crossed back above the 200EMA (Red Line) on this 1D timeframe. BTC has found some resistance at its Least Squares Moving Average level (LSMA) (White Line). For people who use this indicator, a candle close above the LSMA is a potential buy signal. Volume is still relatively low and note that todays Volume Bar is below its Volume 20 Period Moving Average (Orange Line) at the moment. Here is a closer look at this chart: Using the Ichimoku Cloud settings of 20,60,120,30: The Ichimoku Cloud Conversion Line (Tenkan Sen) (Blue Line) is indicating the mid point of the short-term momentum is sideways. The Ichimoku Cloud Base Line (Kijun Sen) (Orange Line) is indicating the mid point of the mid-term momentum is sideways. The Ichimoku Cloud Lagging Span (Chiikou Span) (Green Line) is indicating momentum is upwards at the moment. Note that BTC has found some support from its Leading Span B (Senkou Span B) Cloud support. Note that gap between the Leading Span A (Senkou Span A) and the Leading Span B (Senkou Span B) levels has shrunk. Bullish confirmation for this 1D timeframe will be when the Leading Span A (Senkou Span A) crosses back over the Leading Span B (Senkou Span B) creating a new Bullish Green Cloud (Kumo). The Average Directional Index (ADX DI) is indicating the trend strength has dropped slightly and is moving sideways with the ADX (Yellow Line) at 35.42 dropping under its 9 Period EMA (White Line) which is at 35.72. The +DI (Green Line) is pointing upwards at 24.42 and the -DI (Red Line) is pointing slightly downwards at 11.96. This indicates that positive momentum has increased and negative momentum has decreased on this 1D timeframe. The Relative Strength Index (RSI) is indicating momentum is upwards at the moment. Note that the RSI (Purple Line) has crossed back above its 9 Period EMA (Yellow Line) indicating upwards strength. Note that the RSI still has room to move up before becoming overbought on this 1D timeframe. If you are still waiting for sub $20K, you might be in for a very long wait especially if BTC creates a new Bullish Green Cloud for this 1D timeframe. I hope tis is helpful with your trading and hodl-ing.
BITSTAMP:BTCUSD
by entertheroach
5
VTHO 4hr chart updateQuick VTHO 4hr chart update: After yesterday’s massive price rise, VTHO has dropped back under the Upper Bollinger Band which should come as a surprise after such a large rise. Note that we have had an extreme expansion on the Upper and Lower Bollinger Bands so a BB contraction and price dip is a possibility and should not come as a surprise. VTHO is back below its Pitchfork Median Line for this 4hr timeframe. VTHO is still above its 50EMA (Yellow Line) for this 4hr timeframe. VTHO is still above its Least Squares Moving Average (LSMA) (White Line). VTHO has found some resistance from Upper Bollinger Band. Note that VTHO is safely above its Bollinger Bands Middle Band Basis 20 Period SMA. VTHO is still above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range. At the moment of typing this, VTHO is below its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range i have selected. VTHO has closed 7x 4hr Volume Bars above its Volume 20 Period Moving Average and looks like it will close a 8th Volume Bar above it. The Average Directional Index (ADX DI) is showing that the trend strength is still strong with the ADX (Yellow Line) at 56.58 and still above its 9 Period EMA (White Line) which is at 48.46. The +DI (Green Line) has dropped to 39.65 indicating positive momentum has dropped for this 4hr timeframe, but note that the -DI (Red Line) has also dropped to 2.36 indicating negative momentum has also dropped for this 4hr timeframe. Note that the -DI (Red Line) is starting to curve sideways. The Relative Strength Index (RSI) is indicating that momentum is downwards at the moment, note that the RSI (Purple Line) is below its 9 Period EMA (Yellow Line) which is a sign weakness for upwards momentum. Renewed upwards momentum will be confirmed when the RSI (Purple Line) cross back above the 9 Period EMA (Yellow Line) for this 4hr timeframe. The RSI (purple Line) has just dropped out of the Overbought Zone. Here is a closer look at this 4hr timeframe. We could see VTHO range sideways within a range for a few hours/days which would bring the Lower Bollinger Band Upwards, or we could see VTHO drop to its LSMA or 50EMA level as a major support. If the 50EMA fails as support, VTHO could drop back to its Bollinger Bands Middle Band Basis 20 period SMA. If you are waiting for confirmation to place a long, a successfully break ABOVE the Pitchfork Median Line and successful RETEST of that level as support is key, but note that may change as there might be better lower levels to go long if VTHO dips more. Note that the Pitchfork Hagopian Line has acted as very strong support over the last few weeks so this level is crucial for VTHO stop stay above on this 4hr timeframe. I hope this is helpful with your trading and hold-ing.
by entertheroach
1
VeChain quick and dirty 4hr chart updateVeChain is still above its Pitchfork Median Line for this 4hr timeframe. VeChain is still above its 50EMA (Yellow Line) for this 4hr timeframe. VeChain has found some resistance from its Least Squares Moving Average (LSMA) (White Line). If you are waiting for positive confirmation for this indictor, a successful 4hr candle close ABOVE and RETEST off this indicator as support is a potential buy signal for traders who use this indicator. VeChain had dipped in and out of its support zone and found strong support from its Bollinger Bands Middle Band Basis 20 Period SMA and is now back above its VPFR POC. VeChain is still above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range. VeChain is back above its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range i have selected. VeChain has closed 7x 4hr Volume Bars above its Volume 20 Period Moving Average. The Average Directional Index (ADX DI) is showing that the trend strength had dropped with the ADX (Yellow Line) at 28.47 and is below its 9 Period EMA (White Line) which is at 30.22. The +DI (Green Line) has dropped to 18.47 indicating positive momentum has dropped for this 4hr timeframe, the -DI (Red Line) has also dropped to 14.87 indicating negative momentum has also dropped for this 4hr timeframe. There will be more downwards momentum if the +DI (Green line) crosses back under the -DI (Red Line) so its best to keep an eye on this. The Relative Strength Index (RSI) is indicating that momentum is upwards at the moment but note that the RSI (Purple Line) is under its 9 Period EMA (Yellow Line) which is a sign weakness for upwards momentum. Renewed upwards momentum will be confirmed when the RSI (Purple Line) crosses back above the 9 Period EMA (Yellow Line) for this 4hr timeframe. Here is a closer look at this 4hr chart with the LSMA, VPFR levels and the Support Zone I've selected: After last nights dip, VeChain still made a higher low so we will have to see is VeChain can continue to make higher highs and higher lows and as always wee need to keep an eye on what uncle BTC is doing. I hope this is helpful with your trading and hold-ing.
BINANCE:VETUSD
by entertheroach
3
So what's BTC sayingHere's a quick BTC 1D chart update: The BTC Daily Chart is looking really good. BTC is still above its 50EMA and its Bollinger Bands Middle Band Basis 20 Period SMA. BTC is above its Volume Profile Fixed Range (VPFR) Point of Control (POC) for the fixed range i have selected. BTC is above its Volume Profile Visible Range (VPVR) Point of Control (POC) for this chart’s visible range. Volume has dropped slightly and note that yesterday’s daily Volume Bar closed below its Volume 20 Period Moving Average. Nota that BTC has managed to close 6 daily candles above its Pitchfork Median Line and looks like it will make it 7 daily candles. The Average Directional Index (ADX DI) is indicating Positive Momentum has dipped slightly with the +DI (Green Line) at 28.64 but note that negative momentum is also pointing downwards with the -DI (Red Line) at 9.15. The ADX is showing a strong trend with the ADX (Yellow Line) at 36.36 which is still above its 9 Period EMA (White Line) which is at 33.06. The Relative Strength Index (RSI) is showing momentum is upwards at the moment and note that the RSI (Purple Line) is above its 9 Period EMA (Yellow Line) indicating upwards momentum is strong. The RSI is in the Overbought Zone but note that being in the Overbought Zone doesn't mean BTC will drop because the RSI can range sideways in the Overbought Zone for a prolonged period of time or go up further. Worthy of note is the fact that BTC at 1am on the 9th August, CLOSED a Weekly Candle ABOVE its Sideways Channel. Note that the Bollinger Bands Upper and Lower Bands are NOT over extended indicating that BTC still has volatility room to move either UP or DOWN before becoming overextended on this 1D timeframe. We could see BTC range sideways for a couple of days within a range, but if BTC does dip, it may find support from its Pitchfork Median Line or at around $42,698 range which where its Potential Support Range located. All in all, despite the many prophets of doom and soothsayers on TradingView, $20K didn’t happen! So well done if you managed to stock up on BTC at around $29K. I hope this is helpful with your Trading and Hodl-ing.
BITSTAMP:BTCUSD
by entertheroach
2
Quick ADA 4hr Chart UpdateADA 4hr Update: ADA is still safely above its 50EMA for this 4hr timeframe. ADA is above its Volume Profile Fixed Range (VPFR) Point of Control (POC) for this charts fixed range i have selected. ADA is above its Volume Profile Visible Range (VPVR) Point of Control (POC) for this charts visible range. Note that the last 10x 4hr Volume Bars have been above its Volume 20 Moving Average. ADA is above its Bollinger Bands Middle Band Basis 20 Period SMA. Note that we have had extreme expansion on the Upper and Lower Bands so a re-trace back would not be unexpected. The Average Directional Index (ADX DI) is showing strong positive momentum with the +DI (Green Line) at 42.44 and the -DI (Red Line) at 5.99. The ADX is showing a strong trend with the ADX (Yellow Line) at 40.65 and above its 9 Period EMA (White Line) which is at 32.17. The +DI (Green Line) is showing that positive Momentum has dropped but note that the -DI (Red Line) is showing that Negative Momentum has also dropped. The Relative Strength Index (RSI) is indicating strong upwards momentum and note that the RSI (Purple Line) is in the Overbought Zone. Being in the Overbought Zone does not mean that ADA will drop as the RSI (Purple Line) can range sideways within the Overbought Zone for a prolonged period of time. Note that the RSI (Purple Line) is above its 9 Period EMA (Yellow Line) indicating upwards momentum is strong at the moment. A 4hr candle close above the Pitchfork Median Line and re-test of that level as support is crucial for continued upwards momentum. Note that ADA is also walking up the Upper Bollinger Band, we may see more upwards momentum but because of the extreme BB expansion a slight re-trace back should not be unexpected. If ADA does re-trace backwards, it could drop to its Pitchfork (A,B,C) Lower Green Support Line or lower to it's Bollinger Bands Middle Band Basis 20 Period SMA as potential support levels, but at the moment it looks like ADA might continue walking up the upper band or even consolidate sideways for a few hours bringing the Lower Bollinger Band upwards. As always, we also need to keep an eye or 2 what BTC is doing & may potentially do. Apologies for the lack of post, it’s been a busy time. I hope this is helpful with your Trading and Hold-ing.
BINANCE:ADAUSD
by entertheroach
1
VeChain - Keep an eye on key levelsVeChain analysis: VET is back above its 50EMA for this 1D timeframe. VET is still above its Bollinger Bands Middle Band Basis 20 Period SMA. Note that VET is still walking upwards on the inside of the Upper Bollinger Band. VET has found some resistance from its Pitchfork Median Line. If you are Long and waiting for confirmation then a close and successful retest of the Pitchfork Median Line as support is crucial for you. VET is above its Volume Profile Visible Range (VPVR) Point of Control (POC) for this charts visible range. VET is below its Volume Profile Fixed Range (VPFR) Point of Control (POC) for this charts fixed range that i have selected. Note that VET has closed 3 volume bars in the green but they have all been below the Volume 20 Period Moving Average. The Moving Average Convergence Divergence (MACD) is showing strong positive momentum and the MACD Line (Blue Line) is now in the positive zone. The Average Directional Index (ADX DI) is showing a strong trend with the ADX (Yellow Line) at 29.89 above its 9 Period EMA (White Line) which is at 29.25. the +DI (Green line) has increased to 22.95 and the -DI (Red Line) has dropped to 9.85, this indicates an increasing in Positive momentum while a decrease in Negative Momentum. The Chaikin Money Flow (CMF) is indicating that the CMF (Green Line) is now back above the Zero Line & back in the Accumulation Zone at 0.02. Note that the CMF (Green line) is way above its Least Squares Moving Average (LSMA) which is at -0.07. The Relative Strength Index (RSI) is showing strong upwards momentum, note that the RSI (Purple Line) is still safely above its 9 Period EMA (Yellow Line) and note that the RSI still has room to move up before entering the Overbought Zone on this 1D timeframe. So if you are waiting to go long on VET, a break above the Pitchfork Median Line and successful re-test of that level as support is crucial for you. If VET cannot make it back above the Pitchfork median Line then it could drop back to its Bollinger Bands Middle Band Basis 20 Period SMA as potential support, and as always, we need to keep an eye on what BTC is doing. I hope this is helpful with your trading and hold-ing.
BINANCE:VETUSD
by entertheroach
3
BTC - Let's see how this daily candle endsBTC has had a successful breakout and retest off its sideways channel resistance as support but its still best to wait to see where this daily candle closes and how. Note that we may have a potential Hanging Man Candle pattern on this daily chart so its best to keep an eye on how this daily candle ends and also how tomorrows candle begins and ends for confirmation of any bearish reversal. BTC is above its daily 50EMA as well as still safely above its Weekly 50EMA. BTC is still above the Bollinger Bands Middle Band Basis 20 Period SMA. Note that BTC is back under the Upper Band. Note the expansion on the Upper and Lower Bands. BTC is still above its Volume Profile Visible Range (VPVR) Point of Control (POC) for this charts visible range. BTC is still above its Volume Profile Fixed Range (VPFR) Point of Control (POC) for this charts fixed range i have selected. Note that yesterday’s Volume Bar ended above its Volume 20 Period Moving Average. Note that BTC is still above its Pitchfork Median Line. The Moving Average Convergence Divergence (MACD) is showing strong upwards momentum. Note that todays histogram has lightened and decreased in size which is to be expected. Note that the MACD Line (Blue Line) is still safely above the Signal Line (Orange Line). The Average Directional Index (ADX DI) is indicating a strong trend with the ADX (Yellow Line) at 31.97 and still above its 9 Period EMA (White Line) which is at 28.22. The +DI (Green Line) is at 33.56 and showing that positive momentum is sideways within a range. The -DI (Red Line) has dropped to 10.22 indicating a weakening of negative momentum for this 1D timeframe. The Chaikin Money Flow (CMF) is showing strong accumulation with a rise from 0.17 to 0.23 with a drop to 0.22. Note that the CMF (Green Line) is still way above its Least Squares Moving Average (LSMA) which is at 0.12. The Relative Strength Index (RSI) is in the Overbought zone for this 1D timeframe. Note that because the RSI (Purple Line) is in the Overbought Zone that doesn’t necessarily mean that the RSI will drop downwards as the RSI can range sideways in the Overbought Zone. We have to keep an eye on how this Daily Candle ends because at the moment this daily candle could possibly turn out to be a Hanging Man Candle Pattern which is a potential bearish reversal pattern. This might become a possibility especially because the RSI in the Overbought Zone and the Bollinger Bands have had quite a big expansion so there is plenty of room for some significant retraction. So if you are Long, its best to wait for confirmation of a bearish reversal or continued upwards or sideways momentum. I hope this is helpful with your trading and hodl-ing.
BITSTAMP:BTCUSD
by entertheroach
1
BTC - Be prepared to adapt to different scenariosBTC Daily Chart Analysis: (Unbiased & just telling it how it is) BTC is still ranging sideways within its massive sideways channel. Note that even if BTC drops back down to $30K, it will still be considered ranging sideways so you should be prepared for this because it will become more of a possibility especially if BTC continues failing to break ABOVE and more importantly CLOSE a daily candle ABOVE its Sideways Channel Resistance. BTC has found strong resistance from its 2 resistance levels. BTC has found some support from around its $38,355 support line area. BTC is sill above its Volume Profile Visible Range (VPVR) Point of Control (POC) for this charts visible range. IMPORTANT: Since the big volume spike on the 26th July, Daily Volume has been DECREASING and note that the yesterday’s Volume Bar closed BELOW its Volume 20 Period Moving Average. We shouldn’t have been shocked by today’s drop, it was inevitable because you can clearly see the Divergence between the previous 4 days Candles and the Volume Bars because it was indicating a rising Price but diminishing Volume. Note that BTC is still safely above its WEEKLY 50EMA. BTC is still above its Bollinger Bands Middle Band Basis 20 Period SMA. Note that the Upper and Lower Bands have started to curve sideways and that this daily Candle is now back inside the Upper Band. Decreasing volatility is to be expected especially after the last few days of increased volatility. The Moving Average Convergence Divergence (MACD) is indicating upwards momentum is weakening with the MACD Line (Blue Line) curving slightly sideways and notice the green histogram has lightened and decreased in height which is a sign of weakening upwards momentum. The day isn’t over yet so this may change. A very bad sign for longs on the daily will be if the MACD Line (Blue Line) crosses back Under the Signal Line (Orange Line) which would be a major sell signal for most traders. The Average Directional Index (ADX DI) is indicating Positive Momentum has dropped with the +DI (Green Line) dropping to 31.67, note we also have increasing Negative Momentum with the -DI (Red Line) moving up to 14.62. The ADX (Yellow Line) is starting to curve sideways at 29.17 and the 9 Period EMA (White Line) is pointing upwards at 27.06 so if the 9 Period EMA (White Line) crosses back above the ADX (Yellow Line) then we may see a continued weakening of trend strength on this 1D timeframe. The Chaikin money Flow (CMF) is indicating accumulation has dropped slightly with the CMF (Green Line) dropping to 0.16. The CMF (Green Line) is still above its Least Squares Moving Average (LSMA) (Blue Line) which is at 0.08. You do to want the CMF (Green Line) to cross under the LSMA (Blue Line) on this 1D timeframe. The Relative Strength Index (RSI) is indicating a big increase in downwards momentum and the RSI (Purple Line) has dropped out of the Overbought Zone for this 1D timeframe. We can expect more downwards trajectory if the RSI (Purple Line) crosses below the 9 Period EMA (Yellow Line) which will be further confirmation of increasing downwards strength on this 1D timeframe. Potential scenarios if BTC continues failing to CLOSE a Daily Candle ABOVE its Sideways Channel Resistance: 1: BTC drops back to its Bollinger Bands Middle Band 20 Period SMA level as potential support. 2: BTC drops back to its WEEKLY 50EMA level as potential support. 3: BTC drops right back to its Sideways Channel Support at around $31K - $29K levels as potential support. 4: BTC continues to flop around $40,951 - $36,970 ranges. 5: BTC continues to flop around $40,951 - $38,355 ranges. Obviously this is all my opinion and BTC could be at $64K by tomorrow lunch time ;-) but NOT if it continues failing to CLOSE a daily candle ABOVE its sideways channel resistance ;-) I hope this is helpful with your trading and hodl-ing.
BITSTAMP:BTCUSD
by entertheroach
1
VTHO - what's going on the 4hr chartA quick look at the VeChainThor (VTHO) 4hr Chart: VTHO is still above is 50EMA for this 4hr timeframe. VTHO is still above its Bollinger Bands Middle Band Basis 20 Period SMA. VTHO had shot up outside its Bollinger Bands Middle Upper Band but has now re-traced back below the Upper Band. Overall Volume has increased and note that the last 6 Volume Bars have been above the Volume 20 Period Moving average on this 4hr timeframe. At the moment VTHO is back above this charts Volume Profile Visible Range (VPVR) Point of Control (POC) for this charts visible range I’ve selected. At the moment VTHO is above this charts Volume Profile Fixed Range (VPFR) Point of Control (POC) for this charts fixed range I’ve selected. Ideally we need VTHO to close this 4hr candle above its 2nd resistance line. The Moving Average Convergence Divergence (MACD) is indication a sharp rise in positive momentum and note that the MACD Line (Blue Line) is in the positive zone and back above its Signal Line (Orange Line). Note that this 4hr histogram bar has decreased in size and has gone lighter indicating a weakening of upwards momentum for this 4hr timeframe. The Average Directional index (ADX DI) is showing Positive momentum has dropped but is still strong with the +DI (Green Line) at 43.23 and still above its -DI (Red Line) which has dropped to 5.74. The ADX (Yellow Line) is indicating a string trend at 35.56 and above its 9 Period EMA (White Line) which is at 26.77. We do not want the +DI (Green Line) to cross back under the -DI (Red Line) on this 4hr timeframe. The Chaikin Money Flow (CMF) is showing that accumulation has dropped slightly to 0.09 but note that the CMF (Green Line) is still above its Least Squares Moving Average (LSMA) (Blue Line) which is at 0.03. We need the CMF to stay in the accumulation zone for renewed upwards momentum. The Relative Strength Index (RSI) is indicating upwards momentum has dropped and the RSI (Purple Line) has dropped out of the Overbought Zone. Note that at the moment the RSI (Purple Line) has dropped back under its 9 Period EMA (Yellow Line) which is a sign of weakening upwards momentum. So we could see more of a drop before the price starts picking up, especially if BTC doesn't pick up. I thought i’d break it up a bit and do a quick analysis of some of my other crypto holdings, in this case VTHO. I hope this is helpful with your Trading and Hold-ing.
by entertheroach