JoshAMS

JoshAMS

Over the course of the last few days we have seen a local top of BTC above $44k. The following move was a drop towards $40K levels after which many traders & analysts were speculating a drop to potentially 36K or even lower. Looking at the price action of BTC on the 4H timeframe we see that it is moving sideways in a 'box' which has started to look like a move...

JoshAMS

After a huge breakout from its falling wedge Bitcoin has been consolidating for a while and maintained its closing price above 30K. At first it seemed that it was forming a triangle with breakout potential to its upside. Though as soon as that seemed to happen it turned out to be a fakeout from a flag pattern instead of a triangle. In any case: the short term...

JoshAMS

Hi all, Now that BTC has slowly made some moves in the direction of higher prices we see some altcoins to move further up as well. Enjin has been in an downtrend for a while a pretty good bounce up to $2.18 a few weeks ago after which it dropped back to as low as $1.30 ranges which also works as a very strong support (see the green bar over the width of the...

JoshAMS

Hi all, The last few weeks I have been looking at the BTC chart over and over again to determine whether the trends was bullish / bearish. I figured an important trendline was broken and that a potential bear market could be around the corner.... UNTIL i charted zooming out, starting on the 3D and 1W chart where I found this beautiful ascending triangle which has...

JoshAMS

As BTC has been dropping for a while now, so has the rest of the market. For SAND this resulted into a falling wedge, which at some point wil break out and will continue its bullish trend. Though, as we now see more correlation with BTC than the previous weeks is also good to understand what BTC is doing. BTC fell throught its trendline that was holding since...

JoshAMS

SAND has been consolidating the last few days (compared to the huge spikes it made before). Of course we saw the whole market go down with the fall of BTC, but the metaverse (related) coins actually held their ground pretty well. GALA being one of them. For now SAND appeared to create a SHS pattern on the 1H chart, but when zooming out, or looking on the 4H...

JoshAMS Updated 

With all the bullish sentiment around gaming, NFTs and Metaverse we see a lot of coins pumping like hell. Now that the NFT gaming project GALA is listed on Binance it has been pumping for days. It's always hard to define where the top will be and when to step out, though I believe that there is still some room for growth for GALA considering its low market cap...

JoshAMS

At the moment of writing, SAND has passed the 1.618 fibo line and is currently testing it after a small retracment. If it holds (and I assume it will) I am sure we will see some further upside to $9.5. Where I am a bit worried about though is the big blue trendline, which you might be able to see if you zoom out. To my opinion it is very unlikely that the price...

JoshAMS

BTC has been correcting the last few days after making a double top in the uptrend channel. Despite the fact that the fear and greed index went back to 'Fear' there is actually not much to worry about. It looks like the bottom has been set and that BTC is about to bounce with confidence and move its way up to 77,5K. I believe that we will go back to ATH levels in...

JoshAMS

SAND has been on a growth path the last few weeks. Of course this was partly driven by Facebook its rebranding to META, pushing other metaverse coins to new highs as well. On top of that SAND has announced its long waited launch later this month (29th of Nov) for an exclusive group of people at first. This news, along with its strong set of partnerships is making...

JoshAMS

MANA has surged the last few days, giving some of us over 70% of gains. Now its time for a small retracement before it can make a next leg up. It looks like the chart is developing itself in such a way that an uptrend channel is forming, though in order to have that confirmed the price needs to bounce on the trendline. When looking at the price rejections on that...

JoshAMS

LRC broke out of its downtrend channel / bullflag. I expected it to trade to higher prices earlier but instead it continued to drop. To define the bottom I always use Fibonacci retracement levels. The bottom of the flag bounced exactly on the 0.618 of the bigger fibo retracement. After the breakout, the price of $2.44 also seems to bounce on the 0.618 if you'd...

JoshAMS

LRC has been trading down in a descending channel, which looks a lot like a bull flag. Which of the two it is I am not 100% sure as both patterns could be applied. Where I am a bit more certain of is the bullish potential after this breakout. What usually happens after a breakout is a retest of the channel / flag before the price continues its way up. The price...

JoshAMS

Hi all, We all know that the crypto market strongly correlates with the performance of BTC. When waking up this morning (at least in my timezone) I saw a little crash from BTC which now trades in the low 60's. What usually happens is that when BTC dips, the Alts dip even harder. Though, its important to understand how far such a dip goes and which levels it...

JoshAMS

After the breakout MANA has traded as high as $3,80 where it also bounced on the 0.382 fibonacci. A retracment followed but has been stopped by the key support level of $3.10 (green bar in the chart) So far it looks like the support is doing a good job keeping the price above it. I have taken my position at $3.23 and will be targeting $4.84 on the 0.618 fibonacci...

JoshAMS

IOTX has seen some significant gains the last few days. When looking at the 4H chart it looks like the price is moving within an ascending triangle. I have already taken my position at the bottom of the retracement and will be holding until the breakout is confirmed. If the volume is high enough the price should be able to reah $0.40 which is on the 1.618 of the...

JoshAMS

Many analysts see a falling wedge on the 4H chart of MANA/USD, though I see a big bullflag which has formed itself over the past few days. Of course I could be wrong but I exect the price to drop just one more time to approx 2.62 before it goes up again and breaks out. For reference I have added the bullflag on FTM to the left in orange. I will be watching the...

JoshAMS Updated 

Using the same chart but analysing the trend on the 4H view, it seems that MANA has formed a huge bullish triangle and is about to break out. Before the big price explosing around a week ago, MANA also had formed a similar pattern when it was still trading below $1. As people say, the future does not repeat itself, but it tends to rhyme. Please note: This is not...