nrhayes91

nrhayes91

On this chart, I have outlined in purple a major reactionary zone for BTCUSD over the last few months. You can see this zone initially acted as support but is now acting a major resistance zone. You can also see BTC is trading inside a bearish expanding triangle. RSI shows bearish divergence on this pattern. Bull view - On the 4H, BTCUSD has broken out of this...

nrhayes91

PLTR looks to be retesting the top of it's current channel. You can see divergence forming in the hourly swing. Buy volume continues in bursts. This is a short term pivotal point - I'd look for a retrace here. If price pushes through the channel with volume, it may indicate a fair short term entry. Either way, this one remains risky on the swing.

nrhayes91

As you can see, BTC is currently sitting on the edge of the right shoulder of a clean HS pattern on the 4H chart. Pattern trade: S/L $45,950 Rentry should be layered at or near 0.5 fib retrace. ($44,500 - 43,000) Pattern will be invalidated if price pushes above $49,700.

nrhayes91

Looking here, you can see that a 1.0 fib extension = $60,100. I think the most likely outcome is a blow off top towards that extension followed by a return to 50DMA (currently at $38,600 but will likely be in the $40,700 range if this plays out.) If BTC consolidates here without any further major volatility, a 1.618 extension may be attempted at $79,500. There...

nrhayes91

PLTR is currently bouncing strong off trendline. Bounce is following significantly oversold status with bullish divergence. Very strong buy volume following the sell off. This appears to be a solid entry point for continuation. S/L 21.10

nrhayes91

RKT establishing control of 4H 50MA inside of IHS. Long entry: 19.91 - 22.50 Take profits: 26.50 - 29.00 Stop Loss - 19.39 2.6%-16% loss : 33-45% profit.

nrhayes91

Hedge down, buy the breakout. I expect MACD to curl upwards in the near future. Targets listed based on volume, wedge height, and historical resistance/support. I expect the USD to struggle in the next few years for multiple factors - QE, low Fed rate, unemployment, etc. Profits can still be made. Cheers.

nrhayes91

Potential fractal in the making. May see an excellent buy opportunity between $10 and $8.

nrhayes91 Updated 

As you can see, XTZ has broken out of it's falling wedge formation, signaling a temporary bottom. In addition, the price has retested the previous breakout line and appears primed to continue upwards. Next major resistance looking to be around the $3.02 level. Ultimately, if the formation plays out, target #1 will be in the $3.50 zone.

nrhayes91

What I am outlining here is a possible (and what I would consider an ideal) retracement for Bitcoin. We all know BTC doesn't follow the rules and FOMO sparks acceleration so this may not play out, so trade cautiously. You can see bitcoin broke out of consolidation on 10/21/20 and has been trading inside a broadening wedge since. Since $10,500 we have not seen a...

nrhayes91 Updated 

Since Jan 2018, bearish divergence has been forming on the monthly RSI and MACD. Last month, a bearish cross was seen on the ADX and DI (granted, without significant trend support). DJI is up nearly 500% since the market crash beginning in 2008 and correction is due. Technicals are seemingly similar prior to 2008 collapse with even worse divergence now. The...

nrhayes91

You can see within the channel, 14,400 would be a reasonable target if BTC continues to follow the previous patterns. The previous two runups have ended with BTC finishing on a clear RSI bear divergence. This has not happened yet on this current runup. This leads to a likely hood that we will see a small runup to target zone before a correction following daily...

nrhayes91

BTC had a 0.5 correction of this current run-up on August 1st. Since then, BTC continues to form an ascending triangle. In addition to the bullish formation, there is hidden bullish divergence on the 4H. There is always a chance that this formation breaks down, but if the triangle plays out, look for continuation with target of psychological and historical...

nrhayes91

First and foremost, LUV appears to be forming an inverted H&S. Target breakout of IHS = $47.70 (First level of resistance). Once breakout confirmed, Target 2 = $52-57. The level of $47 has been solid support over the past months prior to the price finally dipping below the support in Feb. You can see on May 15th, LUV was able to breakout to the top side of it's...

nrhayes91

As you can see, BTC is forming another symmetrical triangle. Lately, they have been tending to break out to the upside. I do feel the volume gap near 7800 still needs to be filled. However, I don't like to guess the direction of the breakout as this is considered a neutral pattern. Buying or selling the breakout is a solid way to trade these patterns. Set your...

nrhayes91

Bitcoin's current price action feels very similar to the bull run in 2019. Putting the two charts together shows an incredibly similar fractal between the two runs. Will the fractal play out? Time will tell. Top chart is current price action. Bottom chart is the 2019 Bull run that began in April. Enjoy

nrhayes91 Updated 

We may retest the 10k area again if the Bart pattern plays out. I will add to my shorts around 9800. If pattern breaks down, I still plan to reload some in the 7800~ area.

nrhayes91

Last week, BTC produced a monster breakout pushing the price back into it's longer term triangle that it broke down from in March. However, BTC was rejected from breaking out of that triangle as it has been many times in the past. I think the upwards price action is slightly exhausted right now and needs to recharge. If BTC breaks below 8450, expect a deep red...