BNBUSD was rejected shortly after it broke through its 0.500 Fibonacci extension on 1D. On the previous attempt to break the 0.500 - 0.618 level of the all time highs, it consolidated and declined to the recent December bottom. It is apparent that it needs to break above the 0.618 level (12.84) to change the negative bias of that level as a rejection zone. If...
Simple Fibonacci levels provide the bullish signal here. Since the All time Highs, ADAUSD was being rejected on the 0.236 Fibonacci retracement. Last time this level broke the uptrend has been sustained and no Lower Low has been made yet. This is a long term bullish signal. Target: 0.08300 which is the 100% gap fill from the latest aggressive decline.
This is the standard BLX chart used to track the candle patterns of Bitcoin from its early stages. The pattern is parabolic and that has been discussed more than enough here. What I want to emphasize most with this analysis is the support provided by the Green Zone. As soon as the price enters this Zone, Bitcoin makes a bottom, never breaks it, consolidates on...
Pattern: Inverse Head and Shoulders (inclining). Signal: Bullish on the Higher Low. Target: TP1 = 0.03125 TP2 = 0.03500.
Pattern: Channel Down on 1D. Signal: Bearish (1) as long as it trades below 0.1000. Bullish (2) if it breaks above 0.1000. Target: TP(1) = 0.05555, TP (2) = 0.12750.
Pattern: Ascending Channel on 1M. Signal: Bullish (two entries) inside the long term Buy Zone (green). Target: 80.600.
Just some thoughts on the market psychology on bubbles. Prevailing market sentiment on Booking in 2000: "No stock can recover from that type of bubble." "Booking is the new Tulip bubble, they took your money for good." "Internet companies? The Internet is nice but you can't expect them to be able to make real money." Prevailing market sentiment on Bitcoin in...
I feel that the chart is clear enough to explain the idea behind it. Litecoin's two bear markets (2014-2015 and 2018-2019) share a similar pattern behavior. A Buy Signal occurred in May 2015 after the bottom was made in January and a support was formed. The price broke a Lower High trend line and rallied nearly +700%. The duration from the bottom to the rally's...
Pattern: 1D Channel Up. Signal: Bearish. The Channel's Higher High was either made today (1st sell entry) or will be made on the 2820 1W Resistance (2nd sell entry). Target: TP(1) 2755, TP (2) 2765.
Pattern: 1D Channel Up. Signal: Bearish. Target: 1310. The price is getting closer to the 1M Resistance at 1365. Last time this level was tested, Gold consolidated inside 1300 - 1365 for 3 months. See how perfectly the Fibonacci levels (on yesterday's top) align with the horizontal price action and the Higher Lows of the 1D Channel Up.
The pattern is a Channel Down on 1W with the exception of a break-out (fundamental noise) during April - June. The key break-out point is the 4.5000 - 5.0000 Resistance zone. The price action below this level is bearish towards 2.2000, while above its bullish towards 8.0000.
Pattern: Bullish Megaphone. Signal: Bullish. Two entries. The pull back towards 53.00 (1) or the break out above the green line (2). Target: TP(1) 58.00. TP(2) 60.00.
Pattern: Channel Up on 1D. Signal: Bullish. The Higher Low patterns are identical and deliver a strong upside when spotted. Target: 9.00000.
The 1W pattern on Ripple is a parabola. With 0.24717 holding since August 2018, an upside momentum is being built. That is largely thanks to the double bottom at 0.28600 on December and January. As long a 0.28600 holds, I expect the parabola to trade the bullish sequence in a similar fashion it traded the bearish, making a symmetrical pattern. This has the...
The chart depicts Ethereum on the 1W scale. The pattern is a long term Bullish Channel (with two extreme noise formations). The most recent Channel was the bearish pattern which took ETH from its All Time Highs to December's bottom. The current 1W candle is testing the Resistance/ Lower High. If successfully crossed then the bearish trend is void and Ethereum...
Pattern: Channel Up on 1D. Signal: Bullish as last week the 1D Channel Up made its Higher Low. Target: 16.500 which is the technical Higher High based on the basis difference between HHs.
Pattern: 1H Channel Up, Higher Low at 1320.54. 4H Support at 1315.86. 1D Resistance at 1326.24, 1D Support at 1302.35. Signal: Bullish on the Higher Low and 4H Support. Target: 1350.
This analysis brings to center stage Bitcoin and the asset mostly linked with, Gold. On this chart, Bitcoin (the digital Gold) shows a quite similar behavioral pattern with Gold's bottom period of the 80s/ 90s bear cycle. What stands out is this identical +33.50% bounce on Gold and the subsequent Double Top followed by a slow decline before the major lift off....