The eye loves to find patterns, and I can't help but see us repeating the last ATH push on a smaller scale. I think everybody WANTS a $20k push, just to see if we can actually do it, even the bears. This might help explain the holding pattern in this 18-19k range. If we reject ~19,350 on the second push, watch for a sell-off. On the other hand, if we break 19.5k,...
BB squeeze indicates incoming price action in the short-term. This morning's damp was big, but the bulls battled back pretty hard to get into a holding pattern for the rest of the day. On pure gut, I have a feeling we are gonna get a continuation of the push upwards.
ETH has gained 17% over the weekend while BTC has only gained 10% in the same span of time, a significant divergence. BTC may be lagging ETH, but the rejection of the fib line at ~592 USDT suggests ETH may be in for a short term correction. I'm just a n00b trying to find my way out of the dark, however, so take it all with a grain of salt.
as you can see, we dropped out of the up channel we had been in when we broke the larger down channel about a week ago. we crossed the little no man's land in between and have now been lingering inside the down channel we left. we are still in a position to push back out again, which would be a strong signal there are still some bulls around. however, this n00b...
the hourly charts for btc are showing signs we may get another bull rally after bouncing off the 10 day ema line. watch the price around 11k to 11.2k for an entry into either long or short position depending on the market reaction to the breakout (or lack thereof). if we keep pushing up steadily past 11.5k, 12-12.5k may be possible before meeting stiff resistance....
the 2 hour chart for ethereum is beginning to show some possible signs of bearish divergence, also visible on the 1 hour. we see an overall uptrend in price, yet volume is falling, macd is crossing, and stoch rsi is putting in lower lows. in my view, there have been some instances where ethereum has lead bitcoin a little the past couple days, however consensus...
the 4 hour chart shows the same wedge formation going around of late. the price is getting squeezed towards the upper side of the local down channel we seem to be in. we could see a possibility for a long position if a rally breaks out towards the top of the longer term down channel we have been in since the all time high. however, be judicious when it comes to...
last week closed well below the 10- and 15-week dema line. we currently sit above the 7 week dema line but expect it to be tested likely in the immediate future. additionally, note that last week's candlestick took on somewhat of a shooting star formation, though not a true shooting star: the difference between open and high was not quite twice the body of the...
we have completed a possible bear flag continuation pattern of the current downtrend. a re-test of 6k is possible, while worst case scenarios could point to 2-3k. also worth noting is the fact that yesterday closed below the 50 day dema with today already looking to continue dropping. the macd shows a possible crossover looming, as well. in short, some very strong...
after bitcoin's earlier rally to the witching hour when CME futures expired, the bears have come out in force and are pushing hard to try and get btc to re-enter its previous descending channel. watch for hard bounces for possible longs OR a significant break back into the channel for possible shorts (not financial advice, just a n00b thinking out loud).
eth has already completed a reversal out of an earlier flag pattern and has broken out of its short term downward trend channel. it is now heading to challenge 10 day dema line and resistance line. to me (a n00b) this looks like a possible entry for a long position if we break through significantly, but that is in no way any financial advice etc etc
