ETH is forming a symmetrical triangle that will possibly break out soon. If we see the volume pick up, the pattern will give us an opportunity to open a long/short position depending on which way the triangle breaks. We should be seeing more volatility in the days to come.
ADA has formed a symmetrical triangle and broke downwards from it.
RSI is oversold and displaying bearish divergence. The candlesticks are forming tweezer tops. This could be a good time to re-enter on the bear trend.
Bitcoin is forming a rising wedge and is displaying bearish divergence on the MACD and RSI
Bitcoin attempted to break above the triangle, but failed to hold above the upper trend line of the triangle and now fell below the lower trend line.
EOS is displaying a heads and shoulders pattern and RSI divergence.
Ripple is forming a falling wedge and is displaying bullish divergence on the RSI. It could be a potential trade set-up. Target is the 0.382 fib and stop is just below the apex of the wedge.
Bitcoin has broken out of a falling wedge. According to the textbooks, the price is expected to increase the opening of the wedge, which would bring the price to just under 13k. Right now, the price is resting at the top of the former resistance line and the 0.382 fib.
There is a very strong and extended bearish divergence on the RSI on the hourly, 30 min, and 15 min chart. It is a sign that the short term uptrend cannot be sustained without at least a correction.
This could be a day trade set-up. Target for wave 5 is acquired by assuming a 1 to 1 extension of wave 1 (that means wave 5 is the same length as wave 1). Stop is slightly below the top of wave 1 since waves 4 and 1 cannot overlap.
The price action of Bitcoin has broken below the descending triangle, usually a sign that more pain is to come. The price is now retesting the previous support line (now the resistance) of the triangle. It could be another opportunity for the shorts to load up. If we look at the smaller time frame, we see that the price is forming a bearish rising wedge.
Tron is displaying bullish divergence on the RSI and is forming a falling wedge.
Ripple is forming a falling wedge, which usually means that the sellers are exhausted for the time being. Also, the price bounced off a previous low, potentially creating a double bottom. The 30 support level on the RSI is currently holding.
Litecoin has gone down very quickly, and a oversold bounce may occur. The RSI is at 15, and there is a mini double bottom. However, I'm not suggesting a long term bull market, just a short term bounce since Litecoin did break down from a huge descending triangle.
According to my Elliott Wave count, EOS has formed 5 waves up and will soon correct. This count is supported by bearish divergence on the RSI. Although EOS made a higher high in wave 5, the RSI could not top the RSI in wave 3, signaling a loss of strength. In addition, the candlesticks are forming tweezer tops, a bearish pattern. A possible entry target might be...
The price action of EOS has formed a falling wedge and the RSI is displaying bullish divergence or convergence.
Ethereum appears to have completed an ABC correction. I think it's a ABC correction instead of a impulse wave is because the wave "3" is significantly shorter than wave "1".
How do you know when to buy? When everyone else is selling! Especially when there are several key signs that may indicate a reversal. First, there is RSI divergence. Even though the price is still dropping, the RSI is starting to uptick, meaning the price Bitcoin is actually starting gain some strength. In addition, a falling wedge is embedded within a falling...