function_mechanic

function_mechanic Nov 11, 2024

Another great opportunity. Trendline breakout and since Bitcoin has finished its correction, reversal is likely to follow here. Target: $10 (2000%).

function_mechanic Updated  Nov 11, 2024

I'm not going to make many posts about altcoins and I'm only posting some of those that I'm holding personally and have the best structure in my opinion. This is another great opportunity similar to my previous posts. During a wave 2 correction price action did a retracement to the 0.786 level and is now moving sideways inside a support zone. RSI is stable and...

function_mechanic Nov 6, 2024

After three years of downtrend ETH/BTC ratio has arrived at long-term support at approximately 0.035. Bitcoin is in the process of breaking out from the consolidation and Ethereum is starting to show some signs of bullishness. The current weekly candle ( not closed yet ) looks like a bullish hammer so far. Weekly RSI is oversold and Stochastic RSI is below 20 for...

function_mechanic Updated  Nov 2, 2024

Gold is entering a danger zone now, the fifth subwave of the third wave that started one year ago is about to end soon. Also approaching a macro trend line resistance. Here's a macro view so that it's clear where do all the lines come from:

function_mechanic Oct 21, 2024

This one is not like my other picks because it already did a powerful breakout and is already in an uptrend. After a golden ratio retracement back to support and trendline breakout+retest, this token now offers a great entry opportunity before the next wave up starts. BTC pair is on support after a channel breakout: If it reaches its 2021 highs again, it will...

function_mechanic Oct 21, 2024

I did some research on newer projects in top 200 and AEVO is one of the two most bullish tokens I found. After breaking out from the descending channel and then retesting it and confirming support, it has been moving sideways and, while not technically in uptrend yet, looks ready for a reversal. BTC pair has a similar picture and is now consolidating in a...

function_mechanic Oct 21, 2024

Ignoring the noise and looking at Bitcoin weekly line chart, we can see that the current consolidation fits nicely into a parallel channel with 5 touch points and we have a strong breakout. Last week close is also the highest since early June and we have a higher high relative to the July high. This is another bullish sign and similarly to my monthly idea that I...

function_mechanic Oct 11, 2024

After confirming support twice at the blue area that also coincides with the golden ratio retracement, BAKE is getting ready for an epic breakout which will be the beginning of the third wave. There is very little space left under the trendline and it can happen any time now: RSI is stable and moving sideways around 50. BAKE/BTC holds support very well. This...

function_mechanic Oct 10, 2024

Another strong altcoin and the next few days can be a perfect moment to open a long position. On support and moving sideways. Corrective wave pattern completed after a retracement to the golden ratio. Trendline breakout and retest: Strong against Bitcoin, holding support: The chart shows major resistance levels as well as three sets of Fibonacci targets:...

function_mechanic Oct 8, 2024

Inverting the chart is a fun exercise that I like to do sometimes. After breaking support in March on high volume, inverted Bitcoin has been holding it as resistance for more than 6 month now. Touching the next resistance level in August produced a long upper wick and the price has been pushed below the first resistance zone again. The price is also moving in an...

function_mechanic Oct 8, 2024

Extremely simple chart based on monthly closing prices. October must close above 60K for confirmation.

function_mechanic Sep 27, 2024

Bitcoin is starting to look quite bullish. On lower time frames we have an uptrend. Higher highs and higher lows: Also inverse head and shoulders. For my brain it's easier to see it on an upside-down chart: On the higher time frame we're still in a consolidation though. It is important to be ready for more sideways movement and short-term swings. Or we can get...

function_mechanic Sep 16, 2024

Sibanye-Stillwater is one of the world’s largest producers of platinum, palladium, and rhodium. Read more on their website . If you are bullish on platinum, this is a fantastic opportunity. On the weekly chart we can see accumulation has been happening on high volume since it hit support in November 2023. V-shaped recovery on high volume on the daily (for...

function_mechanic Sep 16, 2024

While the dollar is rapidly losing its value and all other markets are going crazy, platinum, a wonderful precious metal with unique properties, one of the rarest elements on Earth, is still trading at 2004-2005 price levels. Is it a good buying opportunity right now? Let's see. The move from 1998 to 2008 is clearly a major impulse wave. Judging from gold's...

function_mechanic Updated  Sep 14, 2024

In 2021 the token started trading in the final phase of the bull cycle so it's unlikely to be that fast, but who knows? Anyway, it's a pretty good token to hold in the following months and the picture is very similar to my FIDA post. Price action holding support on an important level, stable weekly RSI moving sideways. SPELL/BTC ratio is in a falling wedge and...

function_mechanic Updated  Sep 13, 2024

One of the few coins out there that holds such a great structure against Bitcoin. Downtrend ended in October 2023: Max target is around $45 which gives it up to 2500% potential. Like the idea? Boost it! Have an opinion? Leave a comment!

function_mechanic Updated  Sep 13, 2024

Note that the project was previously known as Bonfida but renamed to Solana Name Service. Price action has been building some structure on an important support level since July. Weekly RSI has stabilized at 40 and is moving sideways. Falling wedge breakout against Bitcoin: Max target is at $10 which gives up to 4500% potential. Also, since it's a Solana...

function_mechanic Sep 11, 2024

Platinum is extremely underpriced compared to gold. Gold/Platinum ratio is at all time highs. Price action is currently in ascending channel and retesting the trend line that it held as support for 12 years before finally breaking it in 2020. A gravestone doji candle has printed on the weekly timeframe: The ratio can crash if gold goes up (platinum grows more...