Same old Same old… not much change on this chart at all. This market busted through a near-term dotted trend line to the upside, but the needed momentum to back it up has dried up. The Average Directional Index (ADX) line was trying to turn higher to show some trend strength building, but has fizzled out a bit. The directional index lines are all knotted up and...
NEO (charted in dollars on Tradingview) is still consolidating, but still has a bearish pattern break. The ADX has run flat as the directional index lines tangle up to show no direction. The break of the trend line was there, and the objective is still in play. There is not enough momentum to switch trend back to the bulls, so a slow move toward the objective...
Price broke the black 61.8% Fibonacci level back in early August and then tested the same line as resistance on a pullback to the line. Selling interest came on to drop the price to the full retracement, as expected post-pullback. Now the price has reversed and busted the red trend line to the upside. The target for this break is marked with arrows and we are...
Price broke lower bearish trend line resistance and rallied higher last week. The upside target for the breakout (marked with black arrows) hit and found selling interest, or likely profit-taking near the objective. Selling interest also came in as the next upper red bearish trend line was tested. Price is slipping lower and is likely to test the red 61.8%...
The ADX is dropping as trend momentum loses strength. This happening when price tested Fibonacci retracement levels should be a signal for more lower prices ahead. The red 61.8% level held as selling interest came on at this point. A signal for the bearish trend to resume another week. Look for a move back toward the $200 level and maybe even lower if...
After the market tried to rally and stalled into 50% resistance ($6,764), the pattern painted a bullish correction in an overall bearish market picture. The price touched the 50% retracement level last week and found selling interest. As price moved higher the ADX, which measures trend momentum, slipped lower. A weakening trend as price rises is a divergence...
For XRPUSD look for consolidation between .50 and .60 and wait for a break either way... maybe above the top red trend line or the red 61.8% level to the downside. Buy stops likely placed above the red trend line or sell stops placed with a 61.8% Fibonacci break to the downside.
$BTC = Bullish correction in an overall bearish market. The ADX, which measures trend momentum is losing power.. so definitely not enough oomph to push above the resistance zone. Thoughts?
Forget about the hype in XRP this morning. People go straight to emotion, but should instead have a plan in place to ease back on the emotion trades. Trust the charts you build or trust someone you watch that builds charts. BTC has rallied up a tad right into a 50% Fibonacci retracement level to find some selling interest. Happy Fibonacci Friday! The 61.8%...
XRP has launched higher at has crashed into resistance at the 50% level marked on the chart. With this large move now would be a place for profit-taking. However, as price drops back into another support Fibonacci zone, buyers are likely to get back in AND buyers that missed the launch last time will get in too. This should bring a bounce to the upper 61.8%...
Someone requested ETHUSD... here is what I am seeing. As internal momentum for trend is measured with the ADX indicator, the latest price move to the upside was on falling momentum. This divergence should help bring selling interest along the bearish trend line that is being tested at the moment. A move back to the 61.8% level is imminent and the price should...
The green highlighted area on the chart was the first sign of bearishness to return. Price could not even reach the 61.8% level as resistance. Momentum for trend has been maintained for the bears. The Average Directional Index (ADX) line is increasing at the same time the red negative directional index is staying elevated. The bears started to take control...
Support and resistance can be found in this blue wedge type pattern as price falls. Trend line A and B make up this wedge. The previous historical 61.8% Fibonacci level held as resistance, as expected. The ADX is still showing the bears in control of trend momentum, which should keep the market in selling mode to drop price back to previous lows within the...
After the market tried to rally but stalled into previous 61.8% resistance ($7,402), the market was starting to give a signal that this was a bullish correction in an overall bearish market. At the previous high ($7,402) the ADX indicator crossed to show the bears taking control of the near-term trend. The market stalled on a lack of buying interest at this...
With price finding early selling interest at a low Fibonacci retracement level ratio and the red negative directional index line not crossing down through the positive directional index line, look for selling interest to remain here with the previous low as a target for a test of support once again. Despite the latest move up recently, the bears maintain...
NEO (charted in dollars on Tradingview) is still consolidating, but trying to gain some bearish momentum. Right now the momentum is flat. The break of the trend lien was there, but the momentum was not. The arrows marked where the break of the trend line A should go, but we need selling interest to pick up, otherwise we see another boring range-bound week...
Price tested the 61.8% Fibonacci resistance level a couple of times and was held off by selling interest. This line became a key area of selling interest, and should remain strong going forward. now becomes critical resistance moving forward. Momentum for trend is starting to kick in gear for the bears. The Average Directional Index (ADX) line is increasing...
Momentum for trend has kicked back in gear for the bears. The Average Directional Index (ADX) line is increasing at the same time the red negative directional index is staying elevated. The bears started to take control right at the time the trend line A was busted to the downside. The blue highlighted squares mark the trend line break and the crossing of the...