CrypTony026

CrypTony026

Hi everyone, Here are some thoughts on BTC after it's recent activity. Note 1 Ascending triangle is a nice bullish pattern which can sometimes signal the reversal of a downtrend. It is also hitting the .618 fibonnacci level of a 1-month and a 1-year measurement. If it can get over the 8172 mark and sustain that level, the upward trend will continue. Note 2 The...

CrypTony026

Hi traders! LTC looks like it is tentative, unsure and indecisive all in one. We'll have to keep watching to see a more decisive break by the bulls or the bears. Until then, the tug of war will continue. Breaking above and below the lines I drew for the ascending triangle produced a strong reversal by the opposing party. When bulls tried to break out, the bears...

CrypTony026

Hi traders! Whew, what a ride! From late last night until just a little while ago, we went through a 40-pt whipsaw. I think we have stabilized now. Watching the price movement to make sure it stays within the ascending triangle or breaks to the topside. I zoomed out to the day-view for sanity and confirmation. :) It is always important to look at multiple...

CrypTony026

Hello traders, Watching BTC approach the resistance line at 11608. It tried 3-4 times in late Jan to breach that line before retracing to the 6000 range. Now we are back and coming in with stronger volume. Let's see if BTC can turn that into an area of support. 11256 is where I have the .618 fib line drawn. Getting above both of those lines is an important step...

CrypTony026

Hi traders! Still watching LTC. I updated the chart with a couple of callouts. *** The ideas posted here are not a recommendation to buy or sell cryptocurrency. *** *** The posts are for educational purposes only. *** -CrypToNY026

CrypTony026

Hey fellow traders! OK, so that initial ascending triangle I drew did not work out so well.. It broke below the trendline with a decent amount of selling volume. It has continued to stay below 233 and now sits below the MA26. I drew a second trendline that extends the ascending triangle out a little further. We need to keep watching this and the volume to...

CrypTony026

Watching LTC rinse, wash and repeat. It is forming that ascending triangle again. The one that led to the roughly 35% gain in about a day and half of trading. Now, we are seeing it form again. This time bumping against the .5 fib resistance. Once it breaks through that 234 mark, I think we march up to 265 or 304 in short order. Keep in mind that we have been...

CrypTony026

Hey fellow traders, Using pitchfork I saw that the price stayed in the upper half of the downward channel. Now that it broke the pitchfork channel there may be a trend change to the upside. I have been watching this for a while. Yesterday there was an upward break above the blue resistance line with significant relative volume on the 4hr chart. Just before the...