Smoak

Smoak

Posted a similar chart earlier but cleaned it up to make it easier to see. This is a year out. If it does go there keep in mind that there will be bounces on the way down and those will provide our short opportunities. This is a sell the rip market. It is not a buy the dip market.

Smoak

This shows just how important it is for the bulls to keep 3k. Bitcoin has a ton of support lines converging very shortly. In most circumstances, that support would send bitcoin onward and upward. However, it also gives the bears the opportunity to decapitate bitcoin with one quick and hard blow. Keep an eye on this area...it is quickly approaching. a lower...

Smoak

Not trade advice. Just saving this for my personal use to look back on in several years.

Smoak

This gives a general overview of the Alt market. It looks like we may be headed for a test of this confluence. To put that into perspective, if we test this area, it means that the ALT market will lose an additional 87% of its value by April/May of 2019. While on this topic I think it is important to address one issue with crypto market cap that is on par...

Smoak Updated 

I think any long position in a bear market is generally a bad idea. However, we can sometimes find trades that offer potentially good upside but minimal risk with appropriate stops. Eth is now sitting on a trendline that may catch it for a little while. I think we may see one more small push down and then bounce (I do not think this is bottom so this is just a...

Smoak Updated 

This is what I see. I do think we eventually break this line - It is being comprised as i type this. If it breaks then we should move to the next line down. If it doesn't break then I expect a lot of chop. Best of luck.

Smoak Updated 

The chart is pretty self explanatory. I think we will hit that orange line in late December. There are a few things going on there and while a bounce would seem likely I it is a 50/50 as to whether it ends up holding or breaking down. If it holds I expect mostly sideways trading until Summer of 2019. If it breaks down we would be looking at a potential head...

Smoak Updated 

Be careful about going long on EOS. It is starting to breach this support and while it may reestablish it I still would be very wary about going long. Here it is on the 15 minute chart.

Smoak

XLM is starting to poke through support. Since this coin went almost straight up it has very little support and will fall faster and harder than other coins once it really enters its bear phase.

Smoak

I would say that the 500 level in January of 2020 could be an area that Bitcoin is looking to test. Price tends to get drawn to these areas of confluence and this is perhaps the biggest area of confluence on the chart. Some will probably dismiss the idea. However, we should consider that it took exactly 12 months to move from 500 to 4900. The last bear market...

Smoak

It looks like we may end up seeing mostly sideways (somewhat down) action until 2020. I guess elections will then occur and the market will choose a path up or down. One cool thing to look at is how the trend has held since 1932. That is pretty neat.

Smoak

Chart shows it all. You are taking a lot of risk for a dubious reward. If you are intent on buying I would at least wait for it to break above resistances. Don't listen to anyone who tells you to go long as we retest. Happy trading.

Smoak Updated 

The chart is self explanatory so I won't get into the technicals of it other than to say that this level provides a nice confluence and would follow classical charting principles. Fundamentally, there is a ton of false hype surrounding XRP. To understand XRP's use case you need to have some general knowledge of how inter-bank transfers work. If Bank A wants...

Smoak Updated 

There are plenty of ways to chart an asset but sometimes KISS (Keep it Simple Stupid) charting gives the best results. This is just a simple line chart on a weekly time frame. The line chart shows us the open and the close and I like to use it just to see what is happening with the general trend. When we break things down and we make it simple, we can see that...

Smoak Updated 

This is a really great longer term short opportunity. From a technical perspective Nvidia needs a big correction. Fundamentally, some of Nvidia's rapid growth can be attributed to the cryptocurrency boom. Among other things, Nvidia manufactures GPUs used for cryptocurrency mining. As you can imagine, demand is weakening. From a technical perspective, Nvidia...

Smoak

Not a trade...just an idea of where really strong support it. That confluence comes together in May.

Smoak

This is not a detailed analysis and, because forks are unpredictable, I am not giving my predicted directions. However, hopefully some of you may find these lines helpful. If I were looking to buy I'd buy the breakout but be cautious of a fakeout at resistance. If the wedge resistance is too much expect a drop down to the bottom blue line.

Smoak

This isn't so much of an analysis but I figured some people might find it interesting. On the weekly you can see that ethereum has lost all of its major support lines. Short term we could still get a bigger bounce but going long under all these supports just isn't a smart trade. Fundamentally, I think ethereum is still way overvalued. Consider that it has a...