EncryptShawn

EncryptShawn

BTC is looking at support around $62,500 and ETh around $3200, both charts look fine, they are in a short term descending channel but still well above a very strong long term ascending trend line. On the other hand, Alts look abysmal, many have broken their long term support and recently lost their 200d moving average and now the only significant thing for them...

EncryptShawn

We lost that support and now the next major support is important as it will identify if we are still in a bull market or if this rally is winding down. I did expect to see BTC at around $80k+ on this rally and we did not reach it yet so I am hopeful that when we hit this next support line, it will be the end of this pullback and we continue back up in this bull...

EncryptShawn

Overall the chart is still bullish for BTC but there are some things we should be paying attention to here after a few days of blood in the streets. This last Friday looks like there was nearly SEED_TVCODER77_ETHBTCDATA:1B in liquidations that fed the fire and with thinner orderbooks, another half a billion in liquidations yesterday that fueled the fire. We...

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...