Goldxer

Goldxer Updated 

Gold shares (especially Australian) have been strong for the past few weeks, encouraged probably by a higher Aussie-dollar gold price. The strong bearish sentiment in the metal has not translated to prices in leading stocks. Now gold appears to have hit the bottom of the downtrend channel and is ready to at least challenge the top of the channel.

Goldxer

Here's a very simple alert system on a daily gold chart - watch for the daily inverted hammer signal. And believe me, it's a simple alert I need to take more note of. During the daily hustle and bustle of day trading it's easy to miss such a simple alert. Bullish or bearish mood will largely determine whether you're alert or not.

Goldxer

BTC broke out of it's downtrend line then broke down again to test the current longer-term uptrend line from it's recent flash-crash lows. As you can see it formed a H&S on the first test and then an inverted H&S on the second test. Could this be showing some bullish sentiment? Action within the compression triangle formations posted elsewhere will confirm the...

Goldxer

BTC's bullish sentiment seems to be hanging on. BTC looked like it wanted to break the recent uptrend line (and appeared to do so) but came back above it with a strong breakout from a falling wedge formation. But there's another test happening right now (AEST 8.55am) of the breakout zone identified by MarkPMarkets. Will be watching closely.

Goldxer Updated 

BTCUSD seems to have defied predictions - at least for now - of more weakness. It challenged and broke through a short-term downtrend line and then another one early this afternoon Australian Eastern Standard Time. Bigger charts show the vulnerability of BTC with a head and shoulders baseline beckoning below.

Goldxer

Long-tailed undersides of hourly candles point to strong buying for BTCUSD at current levels. And despite its parabolic run, BTC is moving in orderly fashion while other cryptos like BCH make their stellar blast-offs. What a market! On the daily chart, MACD needs to resolve with a new cross-over.

Goldxer Updated 

BTC appears to have broken down from the mid range on a pitchfork after breaking down from an ascending wedge. As I write, BTC has spiked down to the $17,250 area on high volume. The bears have come out.

Goldxer Updated 

BTC has formed another pennant as part of its bull market. Watch the 9 & 20EMA lines for crossovers. A breakdown would indicate the long-awaited retracement has started without the expected $US20,000 target being reached. No sign yet of feared "manipulation" by the futures traders, who, as one observer noted, still have to get used to this market.

Goldxer Updated 

BTC doesn't look willing to take the pullback everyone's calling for. Perhaps the CBOT trade will confirm this mad bull market.

Goldxer

The pitchfork indicates more downside room for BTC, which was showing negative MACD cross-over today around 1pm AEST.

Goldxer

Uptrent channel, double-top and/or twin peaks test for BTC.

Goldxer

Ripple XRP is rumoured to be a bank-based crypto, which is seen as a negative. But does it really matter with cryptos? Perhaps someone could confirm or deny that rumour? XRP action is very slow and orderly compared to so many others that have gone parabolic, so could it be worth some accumulation?

Goldxer Updated 

Litecoin soared to a new high, pulled back then soared again to another new high. When will the craziness subside. I would look for a 23.6 pullback. A five-wave Elliot Wave move can be counted on this rise, which should give way to A-B-C sideways movements.

Goldxer Updated 

Many of the smaller cryptos have followed the meteoric rise of Big Brother BTC and formed pennants like these. The only question is, can they keep the momentum to the upside?

Goldxer Updated 

Gold is frustratingly slow at the moment and seems to be following it's own course. Overdue US stock market correction should give it some impetus.