Joontree

Joontree

ZRX forming a potential head and shoulders on the 12H. Currently forming what will likely be a daily inside bar. If it breaks bearish below previous day's low of 1.47 further downside is likely.

Joontree

ZRX is likely to break out of this triangle with significant price action soon as the range is getting very tight. Decent place for an entry either way depending on other factors you are considering, stop placed above or below based on whether long or short

Joontree

LTC has been outpaced by both BTC and ETH since it's few brief hours of dominance a couple days ago. Now it's approaching the uptrend from yesterday's consolidation A break of this uptrend will likely mean substantial further downside for LTC, the other possible scenario being a bounce Depending on your preference, the uptrend provides a nice level to make...

Joontree

If ETH completes this head and shoulders pattern that it's been forming all day, more down side is likely. Downside bounce targets will be in the 1585-1610 range

Joontree

If this upside down cup & handle pattern follows through it will indicate more downside in the short term for LTC, likely until BTC hits hourly oversold

Joontree

ETH 12H price action has been conforming to this rising channel since late December. Since the channel is so well established, breaking through channel resistance will be significantly bullish and likely indicate a rapid move toward $2k psychological resistance. A rejection from channel resistance will mean near term consolidation while maintaining the...

Joontree

ATOM lost the long term 1H uptrend support earlier today and is currently back testing as resistance. A rejection here will be bearish for the near term while regaining it as support will likely mean another chance at ATH Good short entry could be had here with a stop placed right above the line

Joontree

Both OMG and XRX are in very similar tightening equilibrium patterns on the 1H after dropping below their uptrend channels after yesterdays high of the day. Once these patterns break with increased volume we'll get a clear idea of direction in the near term Consider ZRX a bit stronger as it's coming off the ATH , closer to blue sky & price discovery

Joontree

Eyes on what OMG does here as a break of this channel could indicate significant downside. The longer a chart conforms to a given pattern the more significant the break of that pattern tends to be in terms of price action. Could be a decent entry with a clear stop level below the channel.

Joontree

Here we can see ZRX top out, pull back into a downtrend, and clearly then change that trend into an equilibrium pattern with textbook tightening range and declining volume. Once volume pours back in the equilibrium will break out of this pattern bull or bear.

Joontree Updated 

XLM 1H equilibrium that's been tightening for 3 days down to a very narrow range primed for some price action. Good risk to reward scetup with clear stop level of most recent low of 0.336441 or looser stop at 0.33. this represents 2% risk to over 6% reward before nearest resistance level at 0.365.

Joontree

Completing this head & shoulders on the 4H and flushing down is seeming more and more likely for SNX as it continues to show weakness relative to almost every other name in the DeFi space. Bull volume needs to show up soon for this scenario not to play out. Upper $16's to mid $17's are a must hold zone for the uptrend to remain intact.

Joontree Updated 

ETH RSI levels starting to look over extended, an entry here would be FOMO imo. Likely scenario whenever the temporary top is in will be hourly consolidation down to back test the previous long term resistance wedge line in the mid 1500's. This will be an opportunity to reload with a plan to exit either into the strength of the bounce (conservative) or hold out...

Joontree

After briefly touching above $19 SNX has been steadily fading for 48 hours, failing to show any sort of substantial bounce like other names in the sector. 4H chart has been unable to close above EMA resistances, looks to have broken below the longer term uptrend line, and continues to dangle off into lower lows with increasing bear volume. The potential also...

Joontree Updated 

ETH just broke to 4H higher high will it A) Consolidate briefly on lower timelines before shooting to ATH or B) Return to rising wedge line

Joontree Updated 

UNI looking a lot like a bullish cup & handle in an hourly equilibrium very close to the ATH. One thing I've learned over the last couple weeks is not to sleep on this name as moves to the upside tend to be swift and without much consolidation.