Heinzz

Heinzz

The OG Pitchfork

Heinzz

With continued strength the stronger the need for a retrace becomes. A clear bearish divergence on the daily RSI hints that it may be on the horizon. Since BTC created the recent high, the 0.618 fib from the March low point now lines up almost perfectly with the 2017 ATH support level. This level would also coincide with a ~30% drop from current highs. We can...

Heinzz Updated 

BTC has had an amazing run these past few months, but it looks like it is near time to retrace. A retracement at this time would be healthy for the continued long term growth of BTC. Here are some factors indicating a retrace is coming soon: The weekly RSI is currently 88.7 at the time of writing. The highest ever recorded weekly RSI was 91, which occurred twice...

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BTC is in a large descending triangle which is about to break down sometime during the next daily candle (which begins to form approx 3 hours from now). Using Bulkowski's Descending Triangles as a guideline we can estimate a move to the downside, resulting in a price of $10,900. To get this amount, we: 1. Compute the height from the highest peak (A) to the...

Heinzz Updated 

On the four hour chart we can see two indicators signalling another push south. First: the 50MA is about to cross under the 200MA on the chart. It is also significant to note that this will happen right when BTC needs to make a decision about where to break from this big triangle it is forming - up or down. The Bearish Golden Cross would indicate that BTC will...

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Ripple seems to be respecting the channel it is in, even though it is having huge surges in price for these past few days. Price looks like it will return to the bottom of the channel, which would put it back in sync with the 50 day moving average. At the moment it is very elevated above its key moving averages. Potential buy point at $1.30 if price meets the...

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On Dec 20th BTCUSD had the first Bearish Golden Cross since November 10th when BTCUSD corrected from $7,800 USD to $5,500 USD. The cross that happened on the one hour BTCUSD chart on Dec 20th lead to an instant drop of more than $1,300. Another Bearish Golden Cross is about to happen on the 2 hour chart. The crossover should happen in the next four hours. We...

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Although rsi is just one indicator we use when trading crypto, please take note of it right now. In 2013 the rsi hit 97 twice on the monthly chart. On both of those occasions a crash followed. Right now the rsi is 96 on the monthly chart. It could be a sign of bad days ahead.

Heinzz Updated 

XMRUSD is breaking out of a perfect cup and handle pattern that has been developing for a few months. The projected advance (after measuring the distance from the right peak of the cup to the bottom of the cup) gives an upward projection of $201.

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Short term: some consolidation at a slightly lower price followed by good upside potential. ETHEUR is looking a little exhausted on daily volume. Possible retest of the bottom side of this ascending triangle. Retest would give a lowest price of 262-264 Euro in the coming days, allowing for more supply to drive the price upwards and break descending (dotted)...