OMG/USDT Strong Gains AheadOMG/USDT is seeing a big inflow of volume currently, producing a big candle on the daily chart.
Historically, OMG tends to shoot up drastically after a longer period of quietness, I've marked these consolidation phases with yellow rectangles. We might be entering a new bullish phase for this pair, what do you think?
Furthermore, I've marked two areas of resistance on the chart, R1 and R2. Consider these areas important since there might be a lot of bearish pressure from there. In case we will see another bull-phase like before, I don't expect these resistances to oppose any threat.
Happy trading!
Bullish-signal
ETH/BTC New Wave Starting: Bullish ChannelETH/BTC is seemingly starting a new bullish wave. As a lot of BTC pairs at the moment, it's seeing a great influx of volume. My guess would be that Bitcoin's price uncertainty is causing the value of it against other large caps to decrease, sending the X/BTC pairs up.
For now, the main resistance areas are drawn at R1 and R2, both placed at recent highs. In case we see a new alt-season, expect the price to rise even further. Happy trading!
Bitcoin Back To Former HeightsIn my previous two posts I argued a reversal for Bitcoin would be very possible, possible to even go back to the $40k levels. Seeing how strong the current recovery is, I see that happening.
Happy trading!
ETH/USDT Big Move Incoming: New All-Time-High Soon?ETH/USDT is forming a pennant on the 1H chart. With all the bullish sentiment surrounding Bitcoin and crypto in general I'd be very surprised if the pennant breaks out on the downside instead of on the upside.
My previous few ETH calls were spot-on, let's hope I'm right again! Would be truly amazing to see a new ATH on ETH in the near future.
I've marked two areas of resistance on the chart, R1 and R2. R1 based on the most recent top and R2 being the last major resistance before the ATH around $1430. Be careful around those areas, happy trading!
XAUUSD HARMONIC PATTERNS + DIVERGENCEHello everyone!
Happy 2021
We have a short trade on GOLD, we have a bearish bat pattern + bearish crab pattern in the 1940-1950 zone
Expecting a nice bearish move to the 1875 level.
My overall bias is bullish, so expecting a bullish bounce after the harmonic patterns are complete
Enjoy!
BCH/USDT Bullish ChannelBCH is spiking up again after bouncing off the lower trend line of the channel. After a small consolidation phase, I'm confident that the price will continue to rise to the upper trend line of the channel.
Update: Litecoin, The Sleeping GiantAbout six weeks ago, I made the prediction that Litecoin would see the light again after staying dormant for years. Please check out my previous Litecoin idea to get a full picture.
Early November LTC broke through a 2-year descending triangle, signaling a new uptrend paired with Bitcoin's trend.
Today we reached $110. If the bullish sentiment in crypto-world remains as it is today, we might see $145 sooner than you think.
Happy trading!
GME [GameStop] Possible Short SqueezeFor the last few weeks, GME has been on both retail and institutional investors' minds, but for different reasons. Today, the pre-market price has broken through a very important resistance line, signaling a further increase in the stock's price.
Institutional investors are overall net short on GameStop, rightfully so. In the age of digital distribution of software, there's little room for physical distribution.
However, GME has come in the picture for retail investors on the hopes of a short-squeeze happening soon.
A short-squeeze occurs when the market, which is short, has to buy back their shares to cover their losses, thus increasing demand/price of that particular stock. See investopedia for more info.
It might be a self-fulfilling prophecy, since retail investors hope to catch the ride early and therefore increasing the stocks price, which in turn leads to institutional investors buying shares to cover their short positions.
The main resistances on the mid-term are located at Resistance 1 and Resistance 2, around $32.50 and 47.50 respectfully. Consider taking some profits around there.
XLM/USDT Potential Double TopXLM is one of the few crypto's who shows signs of bullish behaviour after this week's sell-off. Best to bet on a double top scenario with a tight stop loss.
Since we are betting on a double top, consider exiting your position around $0.22. If the price thereafter falls, consider entering a short position.
Bitcoin's Outlook Is Still Bullish, But For How Long?As we all have seen, Bitcoin made a sharp turn downwards this morning. However, it didn't go down all the way, seems we got saved by the lower trend line of the channel.
If this trend line manages to hold this week, we might see Bitcoin continuing its rise towards $20,000 and beyond. Before entering a long position, wait for the trend to confirm. My suggestion would be to wait till we have a daily candle close above $17,500 (yellow line).
If the lower trend line were to be beaten this week, we can expect Bitcoin's value to drop even further towards $15,000 or even lower.
Trade carefully!
BCH Bitcoin Cash Road to $400BCH, like many other crypto pairs, has seen tremendous growth over the last couple of days. The last wedge was succeeded by a strong bullish move of over 25%, we are currently at the end of the second wedge. is a new bullish move coming?
The first real resistance this pair will encounter would be around the psychological area of $400 (~15% gain from current price). Assuming the wedge will end in a bullish move, $400 should be attainable.
EUR/AUD Potential Bounce from SupportEUR/AUD is currently residing in an area of strong support, dating back more than 14 months.
Historically, this line has held pretty strong, signalling potential short term bullish moves.
Consider exiting the long position around either Resistance 1 or Resistance 2, with the first being the most conservative.
CHF/JPY Follows The Wedge: UpdateIn my last post about CHF/JPY I predicted that this pair would follow a nearly perfect wedge, which in the end came true.
Now, I make the same prediction, but the other way. Consider exiting the long position around the green area, since it's located around the upper trend line of the wedge.
Happy trading!
Ethereum's Massive Bull Run Has Just StartedEthereum is rising very rapidly in the last few weeks. Whereas the rising was more gradual at the start, it's starting to show signs of parabolic behaviour since a few days. This parabolic move blasted the price through the upward sloping channel, signaling more bullish movement to come.
Since there aren't any big resistances in the vicinity, the price has a lot more room to grow. Resistance 1 and Resistance 2 are the first major areas of big selling pressure, therefore it would be wise to reduce your long position around there. If both resistances were to be beaten, nothing will stop Ethereum from reaching the $1000 mark or even targeting a new All-Time-High.
BAND/USDT Amazing Long OpportunityBAND has been consolidating since early November. Today it finally left the consolidating phase to start a new bull run.
Consider Resistance 1 and Resistance 2 as good profit targets, both placed at round numbers. $7.50 and $10 respectively.
DOGE/USDT Massive Parabolic Break-OutToday, DOGE has finally broken through the upward channel that it has been following for a few weeks. Not only did it break through, but it did so with a very strong few candles, accompanied with high volume.
In the snapshot below you can see that the upper trend line was decimated, signaling a strong bullish move in the coming days.
I expect Dogecoin to behave like it did in the past: strong bullish daily candle to start the parabolic movement, followed by even greater bullish daily candles. A move like this can keep going anywhere between two to five days. Consider taking some profits at either Resistance 1 or Resistance 2, since selling pressure is prone to be strong there. Tread very cautious when the price reaches above Resistance 2, it might reverse very strongly within the blink of an eye.
LINK/USDT Short Term Bullish IdeaLINK is continueing to rise without stop. In the last few days LINK has ignored the lower trend line, and instead the price kept going up.
I think it will continue to rise in the coming week, at least to the first resistance around $17. If it breaks though with sufficient force, consider moving your target to resistance 2, around $20.
NZD/CAD Broke through ResistanceNZD/CAD recently broke the resistance of 0.9, signalling a further upward move.
It appears that NZD/CAD is following a channel, so I've selected the green area as a possible exit opportunity to exit the long trade. As long as the oil price either declines or stays flat, bullish momentum for this pair should persist.
PayPal Moving Towards it's All-Time-HighPayPal has recently regained momentum, bouncing off from the lowere trend line in the channel. Recent price behavious is showing higher highs and lower lows.
If macro economic sentiment stays positive, like now, we might see PayPal hitting $215 soon again. Think around 2 weeks.
Consider exiting your short term trade around there since its a major resistance, formed by two previous tops around the all-time-high.
TESLA Added to the SP500 - Next Target $500TSLA finally got added to the SP500 yesterday. The pre-market price is already up more than 13%, with more bullish action happening today as retail traders will enter the market.
My take would be that retail FOMO will drive the price to $500 per share in the next few days. If more good (vaccine) news will hit the market next week, we might even see a share price of $550 soon.
AUD/CHF Bullish SetupAUD/CHF's price has been sloping upward since early November. The last push towards the Nov 11 high has started again. Low risk trade setup.
Consider exiting your position around the green marked resistance area.
CRV/USDT Exponential Growth With Room For MoreCRV is booming at the moment. Over the last 10 days CRV has seen over 130% increase in value, without any indication of stopping soon. We might see the price hitting $1 over the next week.
When we zoom out we can clearly see that the price is following a Cup pattern, with the lows being hit late October.
Volume has seen a big increase as well since then. People are clearly eye-balling CRV.
The token is relatively new on Binance, so its definitely not dead yet. Keep this one on your watchlist!
CAD/CHF Bullish ChannelCAD/CHF has formed an upward sloping channel since late October. Currently the price is in an area of potential short-term reversal.
We want to make sure that the price is actually bouncing off the trend line, so wait for a 4H candle to close above the confirmation line before entering the trade.
Consider Resistance 1 and Resistance 2 as potential profit targets. Resistance 1 is placed at the most recent high, while Resistance 2 is placed at the closest round number. Patience is a virtue.
