JosephMoss

JosephMoss Updated 

First off, there is not a lot of information on the Daily Chart due to BitcoinCash being such a new coin, but now that we have a 50 Day MA to look at we can get a better picture. First, I draw your attention to the stochastic which clearly shows a divergence in the opposite direction of price. While price was going down, the stochastic was moving up. This is a...

JosephMoss Updated 

First off, there is not a lot of information on the Daily Chart due to BitcoinCash being such a new coin, but now that we have a 50 Day MA to look at we can get a better picture. First, I draw your attention to the stochastic which clearly shows a divergence in the opposite direction of price. While price was going down, the stochastic was moving up. This is a...

JosephMoss

The indicators began to turn a day or so ago, but not all of them were lined up. Now, the stochastic has turned down, the MACD has turned down and is weakening and the OBV has also angled downward. Therefore I feel safe in saying we are correcting. Remember that in a previous chart I stated that there would be major resistance at the 5700-5750 level. We attempted...

JosephMoss Updated 

According to my charts on the Daily Graph, your first two Major Resistance Levels according to the Fib is 5700 and 6246/6250 price with the BTC/USD pair on Coinbase....give or take depending on how sharp my pencil is. What we were seeing prior was some resistance walls about every $100 in price, even every $50 in price, so 4000, 4050, 4100, maybe then 4150. What...

JosephMoss Updated 

The 50 MA shows that the trend is up, and as long as its not heading down, we are in a Bull Market. It is the direction of the line we are looking at, NOT whether we cross above or below it. (More on this later.) The 200 MA also shows that the trend is up. Breaking below this is a danger sign, but I don't see that happening anytime soon. When we break below the...

JosephMoss

So what we have here is a daily chart clearly showing that the long term trend is still up, but we are waiting for Momentum to turn before we see a further move. This is a simple chart and it works. I have been in since $300 a coin a couple of years ago. So let's delineate what we are looking at here. The blue line near the candles is the 50 day moving average...