LA_Designer

LA_Designer

I was just looking at the weekly charts for BinanceUS and KuCoin, and noticed something interesting. Both exchanges are showing that the volume for Bitcoin within the last several weeks has been astronomical. Neither of these exchanges have ever showed volume like this in the past few years since their existence. By looking at both the volume and the weekly RSI,...

LA_Designer

BTC is in a giant falling wedge pattern for over a year now and has recently been forming bullish divergence on the weekly chart. The price is closing lower, but the RSI is moving up. This is telling you that momentum is starting to shift. Bullish above $25K Bearish below $17.6K

LA_Designer

Left chart: DXY / 3-day Price is bullish, RSI is bearish (dump expected) Right chart: BTC / 3-day Price is bearish, RSI is bullish (pump expected after DXY corrects)

LA_Designer

$17K - $19K still proves to be strong support. The daily candle bounce on this zone shows even further that it continues to defend these levels, with higher lows on the RSI. I'm expecting a move back up in the next week or two. Invalidated below $17.6K

LA_Designer Updated 

ETH might be bouncing off of support at the $1,400 zone. It re-tested and closed the daily with a higher low on the RSI, which tells me a possible move up could come. Invalidated with a daily/weekly close below $1,400.

LA_Designer Updated 

As we can see, ETH is trading in a small triangle pattern between $2,030 - $1,425. Bullish Scenario: Break above the trend line and the local resistance of $1,800. Bearish Scenario: Break below the trend line and the local support at $1,400.

LA_Designer

As we can see, bearish divergence continues to increase since April, however the .5 fib continues to act as support on each correction. I expect the DXY to pass 111 in the near future for a new local high because of the daily engulfing candle that is forming on the recent bounce. My thoughts on the divergence remains the same.

LA_Designer

After a double bottom off of support, BTC has now gone above the 20-day and 50-day SMA. $25K will act as strong resistance, and if that breaks, then the 200-day SMA is next.

LA_Designer Updated 

On the daily timeframe, APE is forming a descending wedge pattern with bullish divergence on the RSI. The RSI is also showing that it's oversold. I expect a bounce up from the local support levels. If support fails, then $3 is the last line of defense before making any lower lows. Strong resistance around $5.50

LA_Designer

There are some strong signals coming up on the weekly chart lately, such as the hash ribbons indicator, the bullish divergence on the RSI, and possibly a double bottom formation between $18K - $20K. I'm thinking that BTC will retest the 200W MA sometime soon. Also, don't forget the bearish divergence on the DXY. I've been pointing it out since July. Here is my...

LA_Designer Updated 

I'll keep this short and simple. We can see a possible double bottom forming on BTC. There is also a descending wedge pattern forming since August 15th. RSI is showing oversold with bullish divergence (lower price action but higher RSI) on the daily chart. This could signal a potential reversal upwards in the near future. Invalidated and bearish with a daily...

LA_Designer Updated 

After almost a 30% correction since August 13, ETH is developing a descending wedge pattern with bullish divergence on the 8H chart. If the upper trend line breaks, then I'd expect a move up to major resistance around $1,700.

LA_Designer

There is a rising wedge pattern in progress. Bearish divergence is still building up (daily and weekly timeframes). It takes time for bearish divergence to play out on price action, but when it does, it will collapse hard. Enjoy the parabolic rise while it still lasts. Things do not go up forever.

LA_Designer

ETH is approaching the support zone around $1,400 - $1,500, and from there will decide which direction it is heading in. The area that I circled above will likely be the decision point. Even though ETH is performing significantly better than BTC, I am still waiting for confirmation on direction. A drop down would likely retest the lows at $1,000.

LA_Designer

SPX just retraced to the .618 fib. It's possible we see a bounce here or even the .786. I'm also seeing some hidden bullish divergence on the daily RSI at the moment. Bearish if we get a daily close below 3637.

LA_Designer

As we can see on the chart, since May 2021, BTC dominance has fluctuated between 39% - 48%. BTC dominance is now at the support zone again with bullish divergence building up on the daily time frame. Based on what I'm seeing, I think there is a good chance that it could bounce off of this zone, although if Ethereum continues to lead the market then the support...

LA_Designer

Currently, APE is starting to form a descending wedge pattern with bullish divergence building up on the 12H. Local support zones at $4.20 and $3. If it breaks upward, I'd expect strong resistance around $5.50 - $5.60. If that resistance breaks, then we could see a decent uptrend from there.

LA_Designer

We can clearly see bearish divergence on the weekly chart for the DXY. I've been pointing this out since July. What is bearish divergence? This occurs when the price reaches higher highs, while the technical indicator makes lower highs. Although there is a bullish attitude on the market, the discrepancy means that the momentum is slowing. The price can...