SRM - The End Of Bears?SRM has given us some very nice technical patterns which are all indicating towards a bullish reversal. We have had a double bottom which often appears at the end of a bear trend.
We are waiting for a clean break above the 4.5 level to indicate that the bear trend has ended. Will be looking to get in on the retest of the trendline and the structure level.
Altsignals
SRM - The End Of Bears?SRM has given us some very nice technical patterns which are all indicating towards a bullish reversal. We have had a double bottom which often appears at the end of a bear trend.
We are waiting for a clean break above the 4.5 level to indicate that the bear trend has ended. Will be looking to get in on the retest of the trendline and the structure level.
ChainLink - Key Levels To WatchWe were bullish on Chainlink for a little while. We were looking at the 15 level for bullish price action. Price went a little lower than we expected and went to 14.00 level which was previously the impulse generation point - where the major impulse of 2021 started.
We are now making our way back up and we have 2 key structure levels which we are looking at.
First Structure level is the 26 level. If we reject that price, we could see ChainLink come back down to test the lows. If we pass that level, we can look for a retest and gain an entry to this to atleast the 34 level where we have our second structure level.
A break of the ascending trendline would mean that there isn't enough bullish pressure to take ChainLink higher and we can look for shorting opportunities back to the bottom.
ChainLink - Key Levels To WatchWe were bullish on Chainlink for a little while. We were looking at the 15 level for bullish price action. Price went a little lower than we expected and went to 14.00 level which was previously the impulse generation point - where the major impulse of 2021 started.
We are now making our way back up and we have 2 key structure levels which we are looking at.
First Structure level is the 26 level. If we reject that price, we could see ChainLink come back down to test the lows. If we pass that level, we can look for a retest and gain an entry to this to atleast the 34 level where we have our second structure level.
A break of the ascending trendline would mean that there isn't enough bullish pressure to take ChainLink higher and we can look for shorting opportunities back to the bottom.
STELLAR - Shorts Looking LikelyStellar came down from a massive impulse in the last few months and we are currently in an expanding correction.
Within that expanding correction, we are in an ascending correction which is often a reversal pattern. We could see Stellar revisit the recent lows of 0.2 where we previous had a double bottom.
SHORT IDEA:
Wait for ascending correction to break and enter with stops above 0.302.
Targeting: 0.2
LONG IDEA:
Wait for a bullish break out of that expanding correction. Enter on the first bullflag breakout
STELLAR - Shorts Looking LikelyStellar came down from a massive impulse in the last few months and we are currently in an expanding correction.
Within that expanding correction, we are in an ascending correction which is often a reversal pattern. We could see Stellar revisit the recent lows of 0.2 where we previous had a double bottom.
SHORT IDEA:
Wait for ascending correction to break and enter with stops above 0.302.
Targeting: 0.2
LONG IDEA:
Wait for a bullish break out of that expanding correction. Enter on the first bullflag breakout
Ripple - Creeping Up...XRP is within a descending channel and is respecting both the support and resistance. Recently we saw a double bottom chart pattern indicating that price may move up. We are now moving towards channel resistance and structure where we can look for medium to long term trading opportunities.
Its worth bearing in mind that if we break the ascending trendline, we could see XRP fall back down to the double bottom region.
Right now we can monitor the lower timeframe chart for bull flags to take this higher. We have clear invalidation level which will negate our bullish outlook - break fo the ascending trendline.
Ripple - Creeping Up...XRP is within a descending channel and is respecting both the support and resistance. Recently we saw a double bottom chart pattern indicating that price may move up. We are now moving towards channel resistance and structure where we can look for medium to long term trading opportunities.
Its worth bearing in mind that if we break the ascending trendline, we could see XRP fall back down to the double bottom region.
Right now we can monitor the lower timeframe chart for bull flags to take this higher. We have clear invalidation level which will negate our bullish outlook - break fo the ascending trendline.
AKRO - Are We Ready To Break Out?AKRO is at a really good place to look for a trade. If we break up from here, we can easily look for bull flags to take this higher.
If we break the ascending trendline, we can short it until the previous lows. East set up!
AKRO - Are We Ready To Break Out?AKRO is at a really good place to look for a trade. If we break up from here, we can easily look for bull flags to take this higher.
If we break the ascending trendline, we can short it until the previous lows. East set up!
BITCOIN - UPDATELast time we analysed bitcoin, we were looking at the 36K level for a bounce up. Price retested the 36 level and shot up 16%!
We are now at a very strong level where we are seeing some resistance. We can see that previously price broke the 42K level and retested it on its way down.
LONG IDEA: Wait for the 42K level to break and get in on the retest.
SHORT IDEA: Wait for the ascending correction to break and get in on a bear flag back to the 36K level as first TP.
BITCOIN - UPDATELast time we analysed bitcoin, we were looking at the 36K level for a bounce up. Price retested the 36 level and shot up 16%!
We are now at a very strong level where we are seeing some resistance. We can see that previously price broke the 42K level and retested it on its way down.
LONG IDEA: Wait for the 42K level to break and get in on the retest.
SHORT IDEA: Wait for the ascending correction to break and get in on a bear flag back to the 36K level as first TP.
CARDANO - Going Parabolic!Cardano recently had a triple bottom reversal. We appear to be in a parabolic trend which is setting up for a big move. For confirmation we Weill be looking for a break of the parabolic trend to the upside and a retest of a structure level.
We will be targeting the all time highs once we break.
CARDANO - Going Parabolic!Cardano recently had a triple bottom reversal. We appear to be in a parabolic trend which is setting up for a big move. For confirmation we Weill be looking for a break of the parabolic trend to the upside and a retest of a structure level.
We will be targeting the all time highs once we break.
ANKR - Are We Ready To Break Out??ANKRUSDT has been in a descending channel since late February. It appears to be respecting the channel as we've seen rejections on both extremes of the channel.
Recently we've seen a double bottom which is often a reversal pattern. This could indicate that we may be breaking out very soon. Watching this one closely to see if we can break the structure level and channel.
ANKR - Are We Ready To Break Out??ANKRUSDT has been in a descending channel since late February. It appears to be respecting the channel as we've seen rejections on both extremes of the channel.
Recently we've seen a double bottom which is often a reversal pattern. This could indicate that we may be breaking out very soon. Watching this one closely to see if we can break the structure level and channel.
LITECOIN - Double Bottom ReversalIn our previous analysis, we were looking at the bottom for a reversal back to the upside. We have now broken the descending trendline indicating that we are now bullish, even if its only for the short term.
The next area of interest we are looking at is the 146 where we have previous structure. If we break through that level, we will be looking for a retest to take this even higher.
See our educational post on reversal patterns and how to identify them.
Ethereum - Triple Bottom Reversal!In our last Ethereum analysis, we were short from the break of ascending correction back to the bottom - raw gains of almost 25%!
We saw a triple bottom chart pattern which is a highly probable bearish to bullish reversal pattern. We are now approaching a very interesting level where we can look to add another buy position.
At the 2400 level, price converges with trendline and structure making it a high probability area to buy. Watch for price to clear the 2400 level and get in on the retest.
Ethereum - Triple Bottom Reversal!In our last Ethereum analysis, we were short from the break of ascending correction back to the bottom - raw gains of almost 25%!
We saw a triple bottom chart pattern which is a highly probable bearish to bullish reversal pattern. We are now approaching a very interesting level where we can look to add another buy position.
At the 2400 level, price converges with trendline and structure making it a high probability area to buy. Watch for price to clear the 2400 level and get in on the retest.
MATIC - Bullish BreakoutMatic was in a bearish correction since the massive spike in May. We have recently broken out of the descending trendline indicating that we are in bullish territory now.
Watch for price to break the 1.20 level and get in on the retest. We have previous structure and the ascending trendline converging at that point, making it a high probability area to go long.
MATIC - Bullish BreakoutMatic was in a bearish correction since the massive spike in May. We have recently broken out of the descending trendline indicating that we are in bullish territory now.
Watch for price to break the 1.20 level and get in on the retest. We have previous structure and the ascending trendline converging at that point, making it a high probability area to go long.
BITCOIN - Watching 36K For Continuation!In our last Bitcoin Analysis. we were signalling that we may see a breakout soon. Since that post, we got a massive 30% breakout!
Retracement Long Scenario:
Watch for price to retrace back to the 36K level where we have previous structure. Entry on breakout of the retracement correction.
Continuation Long Scenario:
Watch for price to break the 41K level and get in on the retest of 41K with stops below the structure.
Short Scenario:
Watch for price to break the 36k level and enter on the retest with targets of 30K. Stops above the 36K structure level.
BITCOIN - Watching 36K For Continuation!In our last Bitcoin Analysis. we were signalling that we may see a breakout soon. Since that post, we got a massive 30% breakout!
Retracement Long Scenario:
Watch for price to retrace back to the 36K level where we have previous structure. Entry on breakout of the retracement correction.
Continuation Long Scenario:
Watch for price to break the 41K level and get in on the retest of 41K with stops below the structure.
Short Scenario:
Watch for price to break the 36k level and enter on the retest with targets of 30K. Stops above the 36K structure level.
