HyptoCrypto234

HyptoCrypto234

Looking at the macro perspective of Gold here. On the weekly chart, we can see the market structure that has been formed over the past 20 years. With an almost parabolic move from 2009-2012 Gold became seemingly overbought at a price of 1900 USD. Subsequently, a corrective wave took place for the next four years until the beginning of 2016 marking a drawdown of...

HyptoCrypto234 Updated 

So the choppy consolidation trading we have been stuck in makes drawing any short-term conclusion difficult. However, there are a few noteworthy factors that should be taken into account when looking at the current market structure. 1. BTC just posted an overwhelmingly Bullish set of chart patterns. First, we broke out of a falling wedge on high volume. Falling...

HyptoCrypto234 Updated 

Since November last year, the XLM/BTC pair has been stuck in a brutal downtrend. Many altcoins have behaved in a nearly identical manner, however not as many are looking to turn around. The native token to the stellar network, XLM , has a strong case for utility and is often looked at as the sibling to Ripples XRP. However, it offer benefits that XRP simply can...

HyptoCrypto234 Updated 

Looks like we may be breaking out of this consolidation formation. Good time to look to enter long on a little pull back! TP 10000-10300 scaling out around 9700-9800 Stops around 8950 Happy trading!

HyptoCrypto234 Updated 

So the consolidation we saw over the past few days could very well just be a bull flag in the making. Admittedly, it does resemble a descending triangle which is seen as a bearish formation. However it looks like the price is breaking to the upside. This, along with the fact that we are respecting the 200 daily MA leads me to believe the buying will resume. The...

HyptoCrypto234 Updated 

After posting a few historically significant green candles, BTC has been in a consolidation pattern. Everyone is seeing the same pattern but as per usual, many are bias. We just had a strong break upward, smashing past the 200 Daily MA and breaking out of the descending channel we have been stuck in for months. This caused the masses to think the price can only go...

HyptoCrypto234

Back to business as usual as BTC posts a huge candle. The strong bounce has confirmed the support zone around 7500. Many people were calling for a drop to the 5500 area but I believed there were still buyers at this level. Looking to enter long at a retracement near 8000. The next big hurdle is to take out the 200 daily MA and move above the trend line (~9200)...

HyptoCrypto234 Updated 

Pretty important moment here. The trend line that originated at the beginning of April is being tested again. If this fails, along with us being below the 200 daily MA, then there is not much support for BTC until the 6k-7k area. 4 hour RSI is oversold, Daily RSI is a little low and the MACD is still showing a buy signal but is beginning to pinch. Out look is...

HyptoCrypto234

Let's take another look at the state of the rally and subsequent correction over the past 6-7 months. Beginning in April the price began a parabolic move to 14000. We then began the volatile corrective period beginning late June. The bullish phycology had the masses thinking the large descending triangle would end with a break to the upside. However, at the end of...

HyptoCrypto234 Updated 

Bitcoin broke out of its trading range yesterday just as predicted. () Now we are looking for the next move. After such a big green candle, a healthy retracement to the .618 fib can be expected. This level will coincidentally line up to test the previous resistance ~8400 to see if it can turn to support. This is not a certainty, but if the price does retrace to...

HyptoCrypto234

With the overall move towards more sustainable energy sources, I would certainly expect the demand for oil to diminish over the next 100 years. However, we don't trade off such macro perspectives. While certainly in a downtrend, Crude has been posting some predicable and identifiable chart patterns. A bounce back to test the downtrend line is certainly a...

HyptoCrypto234

As shown in my previous posts, Ive been eyeing this breakout for the past few days. The bullish divergence that was building along with the fact that the trend line didn't immediately reject the price made even more confident that the move was coming. If we can now overcome the 8500 resistance and claw above the 200 daily MA, then the bull market will be back in...

HyptoCrypto234 Updated 

BTC has been trading sideways the 10 days and the predictions for the next price moment have shifted bullish. I have seen the current chart pattern labeled as a falling wedge (considered bullish) or a bear flag (considered bearish). However, bear flags tend to be short term uptrends interrupted by sharp drops. (www.investopedia.com) The pattern we are currently...

HyptoCrypto234 Updated 

I previously posted an analysis of the macro/longterm standing of Ether. The ETH/BTC pair seems to be finally breaking out of its 2-year long bear market. Now looking at the smaller scale (4-hour chart), we see this ascending triangle pinching. The trading range has narrowed and volume has decreased as traders and investors wait for the next move. Watch for a...

HyptoCrypto234

Looks like we are showing a little bullish divergence with the RSI. Volume and price have been trending downward but the Daily RSI has been climbing up. Bullish divergence like this has always been a good indication of a reversal point. Just something to keep and eye on as we keep fighting the top of this descending wedge. Comment what do you think will be...

HyptoCrypto234 Updated 

Pretty simple set up here. If we break through the upper resistance of this channel then go long. Look for hourly candle to close above the trend line with stong volume. If the resistance holds and we come back below 8000 then go short. Long TP ~ 8500 and higher. Short TP ~ 7500 and lower.

HyptoCrypto234 Updated 

Although it is far from well defined, it looks like BTC may be printing an inverse head and shoulder on the hourly. Given that this is during a consolidation period it may act as a reversal point to launch the price towards 8800. It seems the sales pressure is subsiding and a look at a few spot exchange order books shows the buy to sell ratio leaning pretty...

HyptoCrypto234

Ether seemed to be disproportionally slaughtered during the 2018 bear market. This was caused by the over-investment of the ICO craze that used Ether as an onramp. I'm pretty confident that the majority of the sales pressure from everyone cashing out of these ICO tokens has subsided, and the diminished price of sed ICO tokens seems to validate this opinion. The...