Anyone with a basic understanding of technical analysis can say immediately that XRP is bearish based on the formation displayed in white. That assumption is correct to an extent as the price is in a clear reducing triangle formation, but there is a lot of support that will hold the price up from falling below the level of support of the formation. if you look...
We are currently sitting at a cross road as we have retraced slightly below the reducing trend formation, but price has come to a bit of a halt and time will tell whether we will fall lower, bounce off or retrace on this level of the golden pocket on the daily fib retracement indicator. My question for all that are scared or skeptical about the future price and...
What can be seen clearly on the 4 hour is a inversive head and shoulders pattern within a current bull pennant which together form a strong confluence for a break out of the pennant in the short term in order to meet the levels shown by the H&S. The level predicted for the H&S is set at $1.80 which also happens to be the top resistance of the Bollinger bands on...
What i discuss in this article is not financial advice along with all forms of analysis i post. BTC has hit a strong level of resistance which i feel the price wont fall below. This level is nothing other than the golden pocket derived from the Fibonacci retracement indicator. The entire base of this accumulation phase or consolidation phase lays on the golden...
With the release of smart contracts on Cardano coming soon it is obvious that the market is going to run, either leading up to the smart contracts release or it will consolidate until the release where it will break out. These theory have been back tested to many times not to be one of the outcomes leading up to this huge news for ADA. My reasoning behind my...
In the past few days/weeks the market has been in a scary downtrend that has created a lot of fear among retail traders and many have sold. This movement to the down side in my opinion and the opinion of many is based on the manipulation by the whales in order to get BTC at a better price and to buy up retail traders coin. In order to make money in this market it...
It can be argued that ADA has bottomed out as fear is gradually dispersing amongst those who lost due to the dump in prices, therefore fundamentals are looking more bullish based on that fact, the markets are likely to gradually reverse now that a bottom has occurred. in relation to BTC, it is possible BTC can consolidate for a couple days which is beneficial to...