JamesRennie

JamesRennie

Though it makes sense that before the halving ETH pass it's last high of $338. I still don't see anything on the chart that suggests that will happen. The chart looks like $250 before halving is possible. This year ETH has seem many wild price swings up and down. Sometimes in quick succession. Don't underestimate how likely that is to happen. It's entirely...

JamesRennie

There seems to be a clear correlation between people not working and the cost of oil. Now once people start working again oil should rise. The interesting part will be to see if Southern hemisphere countries are impacted differently and the virus spreads there after back to work happens in Northern hemisphere. Since i'm nether a keyboard warrior nor an expert...

JamesRennie

Looking to break out of wedge formation to the upside. Weekly is likely to finally close above $6900 after weeks being stuck below it.

JamesRennie

Looking to test $250 at the top of bolliger band. Likely to happen before the Bitcoin halving.

JamesRennie

Looking at bollinger band on 200 MA around $3200. Standard deviation of 2. RSI and stochastic rsi are also looking good. Question is will this come down and break 200 MA and see a stock market crash or with printing inflate the value of assets vs fiat. While everyone is sitting at home it's clear the printer has been hard at work.

JamesRennie

Bitcoin has retested the 50 MA. It need to close above that today. A close below that today will definitely start to look a lot more bearish. 1 a close below that will show that Bitcoin was rejected at 50 MA. Also looking to also show it is breaking out the bottle of wedge. Both will not be good. Though if it can find support above 50 MA by closing above it...

JamesRennie

Looking to retest 50 MA. Looking at this chart I can see that there has likely been a bounce up from 21 MA. With the range between 21 MA and 50 MA narrowing there should be a retest shortly. If 50 MA is broken next target is around 8k for 100 and 200 MA. With the 6700 level showing good support in the chart structure from the old resistance now acting as...

JamesRennie

When comparing silver and gold it's easy to see they are making similar movements. The most interesting part to consider is that silver though following similar patterns has been much more volatile. If silver holds this pattern on the upside it will greatly outpace gold.

JamesRennie

Looking at the daily chart you can see that last 2 highs on daily chart. I've draw a line around $6700 meeting with previous resistance. Looking for that resistance to stay as support during close of today and start a bounce from there tomorrow. If the close today is below $6700 a retest of somewhere between $6200 and $6000 is likely and that will change the...

JamesRennie

About 2 hours left for this week and Bitcoin is sitting above 6900 level it has failed to close above this level for 3 straight weeks. Testing it each week and falling below it for each close. Recognizing that the higher time frames are more significant to the shorter time frame for general analysis of trend. This could be a significant signal to more upwards...

JamesRennie

Watching for higher low on oil to be put it to confirm new uptrend and bottom on Oil put in. Once people go back to work and deflation cycle ends the price could be in an uptrend. I'll I'll be looking for a higher low in combination with people going back to work to confirm new uptrend.

JamesRennie

Clearly paper silver and physical silver have not been on the same page lately. Though coming into end of May going into June I am looking for retest of 18.50 to 19 price level. Breaking through that level could be the start of a longer term bull run in Silver.

JamesRennie

Bitcoin has been rejected for 3 days at 50 MA. Looking for break out from 50 MA. Up or down is not clear but it's nice to see that this level keeps being tested.

JamesRennie

Right now it looks like ETHUSD might get rejected at 200 MA and then have a death cross. Concerned about where this upward movement has stopped.

JamesRennie

Looking for close above 200 MA. Want to see support above 200 MA and that this won't turn into death cross.

JamesRennie

Should ETH turn around and start moving up the moving averages show large potential upside. We will also see if Bitcoin having also causes logarithmic moves in prices of other coins. Keeping in mind just matching old all time high is around a 10x moving and doing so could also cause a lot of FOMO of new people.

JamesRennie

Ideally BTC will close above 7000 today for weekly candle close. Looking for large move after next week.

JamesRennie

Using really simple log chart and looking at angles on the chart. I've been watching this since Italy was at 80 000 cases. I wanted to stay away from talking about this Virus. Unfortunately daily any news I hear about is all negative. I try and stay away from the news and focus on the charts. At this point though it seems unfair not to share this with people....