BTCanadian

BTCanadian

After some new money came in, sending the price upward of 14% in a 6 day period, CMED pulled back a little pulling up and over some resistance at ~39.80. Friday proved to be almost a complete day of indecision with volume high and in the red. This could be from possible whale activity, taking that quick profit that came along with last weeks upswing. What we...

BTCanadian

Although there was an indication that it was going to re-test support as I mentioned, it retraced further than expected, but it respected the heavy support line drawn on the previous chart. Support remains the same, however, new support and resistance lines have also been established to indicate new windows. We closed today with a green indecision candle, so we...

BTCanadian

For a brief time we crossed resistance, but retraced and are now keeping in line with the support and resistance channel that has being tested and is currently consolidating. For the time being, the support line has been moved up, although keep an eye out or have a stop loss somewhere just below, maybe ~30.50. This is due to a slightly looming green shadow that...

BTCanadian

Blackberry has just announced that they are going to be suing Facebook group. Yes, that's right. Suing Facebook for patent infringements. To even file the claim, their lawyers must have a pretty good basis to even try and take on such a massive group, which they mention in the article below. If Blackberry wins this lawsuit , This could possibly be the biggest...

BTCanadian

Over the past few days, we can see that LEAF has been trailing it's rivals slightly, although it is strange that we didn't see more of a consistent breakout, considering we just saw a head and shoulders pattern, followed by a bull flag. It seems as though we might see a retest of the 32.8% fib retrace line to confirm a bullish trend. Thank you for viewing my charts!

BTCanadian

Sometimes breaking your neck isn't always a bad thing. After a fairly large consolidation after that inverse head and shoulders pattern, we can see from the 4h chart today, ACB is logically following suit with WEED , just cracking the neckline (indicated by the purple line) and waiting for that second confirmation above. The shadows of both candles just...

BTCanadian Updated 

After a brief pullback at the neckline, this Monday is showing up with some serious numbers! The support lines, as well as the downward trend line has moved up as we rocket through resistance, landing right in line with the arrow that I had indicated on the chart before last. When you approach a neck line like the one that we have just crossed, you should always...

BTCanadian

This is my complicated technical analysis for when people aren't even trading, just bots fighting at the neckline for the rest of eternity.

BTCanadian

Unfortunately, we didn't even close above the 0.5 re-trace, bouncing off the resistance pretty hard. Generally, closing with no shadow on a that big of a green candle would indicate an increase. There was definitely buyer volume coming in, although not quite as much as 02-05-2018, but we can see that the market opened with a giant shadow at the bottom of the...

BTCanadian

Wow 9.54%! We absolutely blew past any form of futile resistance that I thought may have held us up a bit, into the 0.5 Fibonacci re-trace zone, waiting for an almost guaranteed close tomorrow to confirm above 29.50. I'm moving the support lines up faster than I can buy. The bulls are in full force with no sign of a flag, and even though I've drawn some measly...

BTCanadian Updated 

So, in the previous chart, I was thinking that it wasn't going to cross that line due to the volume and or buying power. Well, they have just acquired final approval for the acquisition of CanniMed earlier today. A combination of diluted asset and possible positive conviction I believe, has lead to an increase just above the trend line. This has allowed me to move...

BTCanadian

We are holding a steady pace upward, exiting the downtrend finally, with a head and shoulders pattern finishing above the 0.236 retrace and past the downtrend channel. Closing in the red, just below the resistance line, it will be interesting to see if the H&S was a true indication of a bullish trend forming, or is that a bull flag I see directly after it?...

BTCanadian

There is still some seriously heavy resistance that we will have to face, considering it just barely cleared above the previous, with a long green wick although. I have moved the upward trend line to reflect the newly created likely support area, indicated by the green dashed line. If we can confirm a second retest above the current dashed red resistance line, the...

BTCanadian

As we can see it has broken below the previous support line and tested twice, confirming the new positioning of the line of resistance. I have also redrawn a slightly longer chart, with a bigger Fibonacci snapshot and new downward trend line that was squeezed down to meet the upward trend that we were previously starting to form. That line has also been taken back...

BTCanadian

I think it is possible to go up from where we are, although it did just consolidate after a huge head and shoulders pattern, and it formed a small red hammer followed by a green doji, which could be the indication of a bull trap. If it passes resistance, this might not be the case, but I could see a possible re-test at the 0.382 fib. The upward trend does look...

BTCanadian

My candles hurt from smashing the top of their head on this resistance line, hopefully they didn't get knocked out. As of now, it just lays down at the 0.382 retrace. If it doesn't get back up and stumbles around, it may very well re-test 9.00. All we do know, is that it has been consolidating and running a borderline doji indecision for to long, and it's not...

BTCanadian

Well then, we can see that there is definitely a new level of support that has been created, indicated by the dotted blue line, and closed above what we had hoped for. Hopefully, due to the two closes above the 0.618 fib line, we can keep running right along side or above the upward trend line. If it does fall below the trend line, it may form the left shoulder of...

BTCanadian

Will it break the green retrace line at .382? Volume will tell how far, considering it broke the triangle in the negative. Judging by the momentum and 3 line EMA I don't believe it will correct past 10.15 due to the two previous test points indicated by the blue dotted line, but if it does, it will most likely just bounce off. We just came out of a huge head and...