Dojistar2017

Dojistar2017

Basically this market is making wide swings between 8.00 and 20.00 when zooming out, meaning chances are better for this market to end the string of lower highs and lows which mark the current bearish environment. Thus, the Bullish engulfing pattern (or combined hammer) seen at the red arrow should mark the bottom. Currently the market is backing off after a...

Dojistar2017

Market hit a floor just above 1.30 recently and fresh buying entered whereafter it is currently undergoing some profit taking around the 2.00 handle. This is done on pretty low volume while the Bollinger Bands have turned neutral. The small bodied candles imply indecision and may imply that bull might return for another test toward the 2.03/2.10 resistance zone....

Dojistar2017

A combined hammer formed on the 28th and 29th of last month (when combining the two candles, a strong hammer forms) ended the recent sell off for now. Now market is against a better resistance zone between 625 and 635; not only the 38,2% Fibonacci retracement level but also previous horizontal support from earlier this in may (see up arrows). Against this...

Dojistar2017

A breakout above the neckline of an inverted head and shoulders pattern (S,H,S) saw bulls driving the market up to almost the projected (calculated) target of this pattern at 15.85. Although listed as resistance, it is only the minimum move this market is expected to make after confirming the pattern. It seems like the 50% Fibonacci level at 16.65 carries some...

Dojistar2017

1.1700 was pointed out to be significant support in the last analyses but after one bounce bears were able to get market below. A low from novemeber 2017 (1.1553) caused the current bounce but for now it seems like 1.1720/1.1730 is now acting as resistance. With the RSI jumping out of oversold territory one could expect to see more stability from here, but a...

Dojistar2017

0.0570 stands for the 61.8% (last) Fibonacci retracement level of the entire bull run. Not only this, notice it has played a big role already in the past, where it acted as firm resistance in february and march and when it gave way an aggressive rally ensued. So, critical support and bulls are doing their best to defend it. Likely to see a further attempt to get...

Dojistar2017

Market corrected after a double top ignited profit taking. Today's session saw a strong comeback and market took back 50% of the downmove. Since february this year this market had a consistent string of higher lows ands highs, so this is likely to continue. Have to be aware of the Fibonacci resistance levels; 77.50 is the 50% mark and 78.20 is the (last) 61.8%...

Dojistar2017

Market is now below the last Fibonacci level (76.4%) which implies a 100% correction (between 6775 and 6500). While lower highs and lows are still seeing momentum with bears short-term, in a wider view, market could still set a higher low after the better floor at the above mentioned area back in april. Note that the bigger belt hold candle (up arrow) has it's...

Dojistar2017

This coin has correctes 61.8% now of the bull-move that started on april first. This percentage is considered the last Fibonacci level where a countermove can be called a correction. Bulls have defended this level (around 542) and a hammer appeard on this daily chart. A hammer (market opens, tests lower prices but closes close to the opneing again) could be a...

Dojistar2017

Bears brought another blow to the market as a lower low is pursued after a lower high set at 8644 recently. This means they still have short-term control over this market. The only way to end this momentum is to see market breaking this pattern, i.e. bringing price over that lower high. For now a newly drawn bearchannel sees the market at the low end, around...

Dojistar2017

Bears are pressing the market against the more critical 1.60 support zone; it is the last major Fibonacci level (61.8%) and a downward sloping line connecting previous lows. If market spends time below it downside risk is extended to 1.30. 1.44 can see some intermediate support. Thus far, 1.60 has not been broken and succesfully defending this level today can see...

Dojistar2017

Bulls are paying the price today for not getting this coin over the Bollinger midline lately around 620. This sees downside risk to next better support around 600. The morning star pattern which I discussed in the previous analyses has it's low at 637, meaning today's close will probably deteremine if we are going to see this 600 print or not. Resistance is...

Dojistar2017

In my last analyses I pointed out a possble bullflag but after braking to the downside a steeper correction was seen where the 61.8% Fibonacci mark was almost touched. A textbook morning star pattern ended this correction and since this market is showing higher lows and highs within a bullchannel. With the top end touched, market is showing some corrective action...

Dojistar2017

A break below the uptrendline and a confirmed triangle sees this market falling toward the calculated 1.1700 target. This is the bigger and more critical support for now; If this move is considered a correction, bulls should try an defend at this level around the standard 38.2% Fibonacci level. It is extra important for bulls to take a stand there as on this...

Dojistar2017

Bulls are in short-term control in this market where the last bigger Fibonacci has been passed (61.8%) only leaving the minor 78.6% as the last resistance (13200) before the previous ceiling around 13600. For now however a little corner pattern may see a minor setback but as long as the uptrendline sees defending (around 12900) bulls should not worry. Breaking...

Dojistar2017

Also here a short-term pattern of lower highs and lows. There was no value being created once the market broke below 130,90, the previous low and a corner pattern is again seen (two arrows). Thus, one could expect similair action like last time where market can recover some losses. Bulls have to end the lower highs/lower lows strong however to break current...

Dojistar2017

This coin shows the bearish short-term pattern of lower highs and lows and has just posted another lower low. The chart shows a piercing pattern however, a bottom signal. Bull's task will be to follow up on that today. Note that in a wider view this market could be searching for a higher low and with the market almost touching the last Fibonacci level (61.8%,...

Dojistar2017

Market is ranging between 0.6200 support and 0.7500 resistance. Note that the 0.6200 is the 61.8% correction level of the latest move north. This percentage is considered the maximum where a countermove can be considered a correction and an earlier morning star pattern suggests bulls are around to defend this idea. Yesterday a hammer session is posted, another...