JohnnyPurtoy98

JohnnyPurtoy98 Aug 5, 2018

There are 2 options for this pair, either the price breaks out the resistance level (red) and moves up to the second resistance level (blue) and bounces back down towards the major support (black). Or the price breaks out the support level (black) and moves to new multi-month lows. It looks more likely to break out the support level and move lower, I think over...

JohnnyPurtoy98 Aug 5, 2018

The price of ripple seems to be extremely squeezed and quiet lately, this comes as the price approaches the end of this descending triangle, it is very likely that we would see a burst of volatility soon, the price seems to have been very quiet not moving much over the last couple of weeks. This shows that the hype around cryptocurrencies have cooled down leaving...

JohnnyPurtoy98 Aug 5, 2018

The price of bitcoin failed to break this resistance level (red), which was a strong previous support level. The price was unable to hold above the resistance level of the descending triangle, and has moved back below it. It is very likely at this point the price would take a break and retrace a little. I believe the price would move back up and test the...

JohnnyPurtoy98 Aug 3, 2018

The price is struggling to gain some bearish momentum, the bullish moves all seem to be corrections so far. There is a significant pattern that has appeared today, this seems to have formed a morning star, this could be a sign for a trend reversal, but for this to happen we would need for momentum to pick up and be able to push the value higher. This is needed as...

JohnnyPurtoy98 Aug 3, 2018

The price failed to break the resistance level of the triangle the price is currently within, the price looks like it has gained bearish momentum and has started to move down, this was expected as the RSI was at an overbought position when the price tested the resistance level. I think the price would move down from here and test the support level, there is also a...

JohnnyPurtoy98 Aug 3, 2018

The price seems to have hit a top, now it is time for a retracement. The RSI is showing the price to be overextended, this can be seen by the value being above 70. I believe the price would retrace back down to the previous resistance level. Apple have had a brilliant year and has become the first business to be valued above 1T dollars and I believe over the long...

JohnnyPurtoy98 Aug 3, 2018

The price has managed to finally break out the channel, the price has broken out the support level of the channel and has moved all the way down to a very strong support level. The price did confirm the break of the channel by retesting the broken support level, which this time acted as a level of resistance. The price seems to have lost some of its momentum as it...

JohnnyPurtoy98 Aug 3, 2018

The price seems to still be stuck in the channel, the previous analysis that I had posted on this pair was almost completed, but due to the interest rate hike and statement from Mark Carney on Brexit the pound had lost a lot of momentum. We could see a small retracement here as the RSI is near an oversold position, but it looks like the pound is going to drop over...

JohnnyPurtoy98 Aug 3, 2018

The price seems to have tested the resistance level of the channel and failed, it looks likely now that the price is going to test the support of the channel and may even have a chance of being able to break the support level of the channel. This bearish move is being favoured by a moving averages crossover and the RSI is also bearish as it is below 40 and moving...

JohnnyPurtoy98 Aug 3, 2018

It looks as if a descending triangle has formed at the top of a significant bullish push, this is very likely to be a major signal for a reversal. Usually the price would break out the support level of a descending wedge and is likely to show significant bearish moves. If the price breaks out the bottom we could see the price of this pair move down to as low as...

JohnnyPurtoy98 Aug 3, 2018

It looks like the price has now tested this previously broken support level twice now, this looks like this level is acting as a level of resistance now. This now looks like the price may move down from here as the price has been rejected by the resistance level multiple times, the RSI is currently also in a position that favours a move down from here, it is below...

JohnnyPurtoy98 Aug 2, 2018

The price seems to have moved above the resistance level of the descending wedge, the price did not have enough strength to make any real significant gains, it moved back down and looks like it is testing the previously broken resistance. If this level acts as a level of support it is very likely we could see significant bullish gains, also if the price moves up...

JohnnyPurtoy98 Updated  Aug 2, 2018

The Elliot wave seems to be coming to an end, now the price is looking to test the support level. If the price successfully breaks this support level then it may be looking to test the previously broken resistance. I think the first one is more likely, but the second is also possible. I think it will bounce after the test of this support level, if the price breaks...

JohnnyPurtoy98 Updated  Aug 2, 2018

This long term support level (red) seems to have acted as a level of resistance as bitcoin tried to gain momentum and move higher in price. The resistance level managed to hold bitcoins biggest push over the past couple of months. The prices seems to have bounced off the resistance level and moved back below the resistance level of the descending triangle, this is...

JohnnyPurtoy98 Aug 2, 2018

The price seems to have managed to breakout the channel, it looks as if the price has rejected this previously broken resistance level and the level is now acting as a support. It seems like the price lost momentum and may test this new support level once again, if the price bounces then we could see highs of up to 0.92. If the price fails to bounce it is very...

JohnnyPurtoy98 Updated  Jul 26, 2018

There is no doubt that bitcoin has gained back some of its momentum over the last couple of weeks, There is a chance that bitcoin could rally, this chance has started after a successful head and shoulders pattern formed on a critical support level. The price seems to have broken the resistance level of the descending triangle, this is a good sign but we still need...

JohnnyPurtoy98 Updated  Jul 25, 2018

The price seems to have managed to breakout the channel, it looks like the price has retraced and is now testing the previously broken resistance level. If this level acts as a support level it is very likely that we could see significant bullish gains. The RSI has positioned itself in a better place to push up once again. I will keep this post regularly updated...

JohnnyPurtoy98 Jul 25, 2018

It looks like the price has managed to form a double top, the price seems to have moved below the neckline and is now retracing. If the neckline acts as a resistance level, it is very likely that we could see bearish moves over the coming days. If the price fails to bounce off this previously broken support level, it is likely the price would move back into a...