Simple cup and handle pattern here. I think we could see a target of $7.25 reached within the next several weeks.
STEEM looks to be breaking out of a downward descending triangle on wave (D) instead of (E) bounce. Confirmation is still needed on the daily and so admittedly this post is early but we are in a buy range regardless. A cloned fractal (purple line) is used to measure the target range. RSI has bounce at the 50. If you play this trade, ladder your buy-ins as...
Ok. Let me explain what is going on in this noisy chart folks. I am sorry for all of the lines. The lines that I would like to explain are: 1) The two up-trending blue supports near our 50 day MA. These should stop us tonight. If we break through the first, we still have another. They are both very good support. Break 'em and we're going down to 11k. However,...
STEEM looks to be ready to show up tonight! My target is $11.75 at which point I will unload at least 25% of my stock. Notes are in the chart.
I am suspicious that we could now be forming the right shoulder. Short term target $17000. I will then sell and wait, watching closely. The bloodbath would be devastating. Then followed by a massive rally like we have not seen yet. From $6000 to $50,000 in one year!!!
Bitcoin. Litecoin. Ethereum. How am I trading three? Cautiously. Why? Although, most of the technical indicators seem to be in place to buy, there is no volume. This concerns me. I have dipping my toes into this slowly with fairly tight stops that follow up (see charts for details). The most I have into any trade right now is %50 of my trade deposits. I will gain...
If you choose to buy here, caution is advised. Dip your toes in slowly (dollar cost average in) and have your stops just below the ascending BLACK trendline. I'm extremely cautious here and reluctant to buy until we have more signs corroborating this move up.
Alright. So on a technical basis, we do have a couple of solid buy signals. -First of all, we broke our down channel. -Secondly, we entered back into my bull channel. So what's my problem, you asked. I don't know just yet? I'm still trying to put my finger on this one. If I had to put something into words here I'd say that we still don't have solid, hot red...
If you choose to buy here, great caution is advised. Dip your toes in slowly (dollar cost average in) and have your stops just below the ascending BLACK trendline. I'm extremely cautious here and reluctant to buy until we have more signs corroborating this move up.
I am not suggesting it will happen, but I am seeing some of the leading cryptos (Bitcoin, Litecoin, and Ethereum) poised to dump this weekend. In addition to all remaining in bearish chart patterns: -Ethereum has fallen below .618 fib retracement and the $275-$280 support level. -Bitcoin has dropped below it's longer term bullish channel yesterday...
I am not suggesting it will happen, but I am seeing some of the leading cryptos (Bitcoin, Litecoin, and Ethereum) poised to dump this weekend. In addition to all remaining in bearish chart patterns: -Ethereum has fallen below .618 fib retracement and the $275-$280 support level. -Bitcoin has dropped below it's longer term bullish channel yesterday...
I am not suggesting it will happen, but I am seeing some of the leading cryptos (Bitcoin, Litecoin, and Ethereum) poised to dump this weekend. In addition to all remaining in bearish chart patterns: -Ethereum has fallen below .618 fib retracement and the $275-$280 support level. -Bitcoin has dropped below it's longer term bullish channel yesterday...
Until Litecoin breaks out of this ugly channel on the daily, either to the upside or to the downside, I will not be a buyer. We are flirting with the top of the channel now. However, take a look at the RSI chart. We are hitting our heads on some major mid-level resistance in direct correlation with the top TL of my descending channel. Watch closely folks. We...
I've spotted a descending wedge on our daily. Until we break out of this AND CONFIRM, either to the upside or downside, I do not think I will be a buyer. Once we break however, I will be looking for good opportunities to enter.
Fellow crypto traders I think you should see this. This is the long term logarithmic view of Bitcoin since inception. I drew this a while ago for times like these when I need to step back and view the larger picture. Please excuse all the lines and messiness. I did not want to delete them just for this post. The main thing I wanted to point out is the bull...
It's days like today I find that I am having to remind people what to overall long term trend looks like. Bitcoin is still bullish as it remains in my BLACK BULL CHANNEL. This BULL CHANNEL is nothing to sneeze at. It has remained intact since early May. You'll remember that it broke below this preceding the last fork. Only when we dipped below the bottom of my...
It's days like today I find that I am having to remind people what to overall long term trend looks like. Litecoin is still bullish as it remains in my GREEN BULL CHANNEL. This BULL CHANNEL is nothing to sneeze at. It has remained intact since early March and has never been broken to the downside. Until it does, I will remain a bull. Although I was stopped out...
