The signs of a correction were there... but I was not watching. I have not been a chart hawk this week, so this analysis is in hindsight. We had VERY clear bearish divergence with overbought RSI on multiple time frames, including the daily. The good news? We have potential hidden bullish divergence forming, but need to see a clear elbow up on RSI to confirm....
I first bought Frontier Wallet under 20 cents, and have been trading in an out since. I actually sold quite a bit around 70 cents and a dollar, so this is not something that I was looking to add more to… but now it has one of the most appealing charts I can find. You always have to pay attention when a coin shows relative strength on days when everything else is...
This remains one of my largest holdings, and one that I have been sharing since the bottom. I have traded around my core position. As you can see, after months of consolidating, INJ has broken out for a new all time high. This means that it is once again in a blue sky breakout. It may not come back for a retest, but conservative traders like to buy the previous...
What a fun day. Bitcoin “crashed” back to the previous all time high around $69,000, predictably testing it as support before seeing a huge move back up near the daily highs. It has continued up since, now trading above $73,000. What is there to say? There’s more demand than supply.
If there was ever any doubt, yesterday closed the first daily candle above the previous all time high of $69,000. Price is officially in discovery, with blue skies ahead. This is almost every trader's favorite situation, because there is no historical resistance.
Just your regular reminder that there is no meaningful high time frame resistance between the current price and the all time high. In the past, Ethereum has always lagged and made a high when Bitcoin stabilizes. This time does not need to be the same - but it does appear likely.
Bitcoin is in price discovery. Read that again, because it seemed like a distant dream a few months ago. Bitcoin has broke it's all time high and is pushing higher, attempting to finally flip the previous all time high of $69,000 to support. Sustained BTC ETF inflows are fueling this move - for the first time was know EXACTLY why price is rising, and there's...
The Dalai Lama pattern. You may think it’s a meme because it sounds like one but it has been a recurring pattern in the crypto-market. Price drops, shakes out many, instills fear and then proceeds to recover fully. Take a quick look at the 4-hour chart. We have a v shaped bottom with a Dalai Lama. Bullish.
Solana is pushing through the last key area of resistance (not through yet) before the all time high.
I know, I am like a broken record. But looking at the ETH weekly chart, there is effectively no resistance between here and the all time high. Take it as you will.
We discussed the bearish divergence on Bitcoin with overbought RSI - now we have hidden bullish divergence, which effectively "cancels" the bear div. Bitcoin continues to hang in there below the all time high, showing strength. Now we just wait until the next big move and hope that alts make their own moves while we consolidate.
Don't use leverage, kids. Yesterday's candle saw a top near $69,300, breaking the previous all time high... then a drop to $59,300, liquidating SEED_TVCODER77_ETHBTCDATA:1B in leveraged positions. We have $10,000 candles. In a day. And price has bounced back to where it was yesterday at this time. Be careful out there, remain in your spot positions, don't...
I am not particularly worried here, but always feel compelled to be balanced and she you what I see on the chart. As you can see, we have potential bearish divergence with overbought on the daily chart, which is confirmed on the 6-hour and below. This could simply mean we are cooling off, and fundamentals are driving the market. Either way, this is always worth...
Bitcoin came within a hair’s breadth of a fresh all time high something that unthinkable a few months (weeks?) ago. Absolutely astounding price action. When you zoom out to the monthly chart, it looks even more insane, like a v shaped correction. There will be bumps in the road, it could take a while to hit a new all time high or it could happen today. I have...
Interesting, right? Once again, Ethereum made a quick move to the upside when Bitcoin started to correct. While Bitcoin dropped from almost $69,000 down to $65,000, Ethereum used the opportunity to catch up and continue. To me, this means the market is just waiting for any excuse to pour liquidity into altcoins. I continue to be a huge ETH bull and think it...
$52,100. It's the easy. That is the key resistance at the moment, with price struggling to get above. There are wicks on both weekly candles clearing this level, but an inability to close there. Otherwise, boring.
Bitcoin is currently working on printing bearish divergence with overbought RSI on the daily chart, which is obviously not ideal. The day is not over, so we do not have confirmation, which would come in the form of a clear elbow down on both RSI and price. Right now it does not look great, but I assume this would just be a healthy retrace and then we would head back up.
Matic remains one of my largest positions, which I have traded around for the past few years. It may be time to add to the holdings once again. This is a WEEKLY chart, so we want to see a close above the descending resistance. A few weeks ago we saw two wicks through this line, which we want to avoid here. As you can see, price has also cleared both the 50 MA...