EncryptShawn

EncryptShawn

BTC did not retrace to the bottom of this wedge, it broke out of its descent pattern and in fact has regained its prior long term ascending trend line, this is showing strong support and a probability we will be breaking out of this wedge and possibly sooner than later. Additionally, a lot of alts were sitting right at their long term ascending trend line and now...

EncryptShawn

Things were looking so good to, was surprised to see this trendline breach. This isnt catastrophic but also its looking like we could fall a ways before we find new footing to start rising again. Well I do believe we are more likely to hodl at $60kish but still vigilant for the possibility of $50kish. Here in the zoomed out chart, you can see why I have been...

EncryptShawn

I had called for $60k BTC but then we happened to get an unexpected extra bull bounce in the middle that put us on a slightly higher descent. Now we seem to be somewhat channelized on our way down to the ascending trendline that will likely catch us and start our trip back up, around $61k depending on when we hit it. There is a circle drawn, once we see BTC price...

EncryptShawn

Its fine, its been running too hard. Right now the charts indicate that BTC was going to top out at around $79k/$80k on this run and so many alts still have a long ways to go to put in their new all time highs and with the rate BTC was going we would have reached that $79k by April this year(24) and then started our next prolonged market decline. By pulling back...

EncryptShawn

At $58k BTC kicked off its descent and has now proven path in a descending channel with a few prominent support lines on the way down. The width of channel is enough that it supports the idea we will push our way down to major support which for BTC is a trendline that was establish 5 months ago in October 2020 when BTC started its ascent. This is a strong...

EncryptShawn

Quick update, tremendous showing by LINK! We shattered through the previous all time high after numerous failed attempts to do so over this year. Things look extremely bullish for LINK, just keeps gaining momentum. Order books seem to be dwindling some, suspect a pullback soon but still very bullish. (Captured on vcdepth.io) While I don’t know how high it’s...

EncryptShawn

I haven’t updated this chart at all since the last time I provided TA on it many months ago. I have been focused on automated trading over the last few months and in fact we should be announcing integration of our order book and order flow data @ vcdepth.io into a major automated trading platform in the near future. Since establishing the first ATH at the end of...

EncryptShawn

Apologies for not being as active with TA posts, I have been more focused on automated trading and in fact we are in process of working a relationship that will integrate our order book and order flow data from vcdepth.io into a major automated trading platform. BTC is in a unique place worth mentioning. First, BTC has had a 5 year bull run never once breaking...

EncryptShawn

Just a quick word because of where we are and my pointing out this 5 year trendline as a great entry point and the current geo-economic situation. We dont know what effect the cov19 will have on crypto, maybe Sunday was crypto joining the global stock sell off, its too soon to know and we are right at support. Anyway, this is still the best opportunity you will...

EncryptShawn

Last time I covered the S&P we had just agreed to a phase one trade deal after having the prime rate cut 3 times and pumping out $60Billion of new USD every month over the last quarter. I was long all the way to top of the 10 year ascending channel, all the conditions were perfect for a great run for 2020. Then the onset of this Corona Virus showed us just how...

EncryptShawn

TIP: Did you know that you can watch the price, volume and orderbooks (bids and asks) fluctuate on a bag of 10 different stable coins on our stable coin index @ vcdepth.io - This really helps to see when money is flowing in and out of the sidelines. This chart depicts how I see trends and its applicable to almost any chart. I see an intersecting graph paper...

EncryptShawn

I just wrote a bearish capture outlining what happens if we stay in the descending channel we had been bound to since we broke out of our 7 week ascending channel that started at the beginning of the year. Well not more than an hour or two later that channel was broken, BTC broke up and then came back down and appears to have converted the top of that channel into...

EncryptShawn

If we retain our current descending channel then that answer is yes! The good news is that if it does maintain course, there is absolute hard support at $7800. We should be a little cautious and observant if we bounce off of $8200/$8300 support as it could lead us to a nasty head and shoulders that could break the 5+ year ascending trendline in the not too...

EncryptShawn

Quick message to say keep a tight stop loss... Things were looking great until recently. Today we saw ETH 7 week ascending channel break and currently looks like it has converted the bottom of channel into resistance now. Whats worse is that BTC broke down out of its channel several days ago and appears to be forming a descending channel now. One thing we can...

EncryptShawn

I posted about AGNC at the beginning of January when AGNC was around $17.50, I called for $20 no later than June. What a pleasant surprise that AGNC has continued to stay on fire! Now one might ask how did I turn this little, fairly slow moving stock into 480% gains in just 6 weeks? I mean this sounds like crypto gains, not stock market gains! This is a...

EncryptShawn

Ethereum to $365 early March if we maintain our current ascending channel (6 weeks strong). Both of the previous bull runs maintained their channel until they reversed to complete their wave. The first ETH run end of 2017 went from $300 to its ATH of $1400 over the period of 3 months in 3 distinct runs (That’s an average of almost $100 a week!) The second run...

EncryptShawn

This screen captures all 3 runs, our first miracle run to $20k, the run last summer to $14k and this run now. All 3 runs had their own ascending channel. Notice with each run, the return descending channel is more narrow, this is as a result of a larger number of smaller runs versus just a fewer major runs in the past. 2017 run lasted 9 months and had 4...

EncryptShawn

I don't normally do shorter charts, I prefer mid-longer term trading when charting but this was of value to me at the moment with my current strategy so sharing. We have broke through so many resistances with out much sweat, its no surprise to eventually exhaust the run with a need to take a breather. Here we met a long term diagonal resistance which we tried to...