From the looks of the PPMs, today looks to be an up day. PPM 1 has turned up with momentum continuing upwards over the next few sessions. PPM 2 has already jerked up quite a bit and PPM 3 is predicted to spike upwards in the next session. It seems there was a mini rally early in today's session which sent to price all the way to the RTX sell signal. Time will...
We had some indecision in the market yesterday, with a doji-like candle by the end of the trading session and both ends similarly long. It may seem like the selling has abated somewhat. However, note that the PPMs are all still negative even if they are not in trend. Yes, they are starting to gain momentum, but the SMAs will still need some time to reverse and...
Looking at the daily and the weekly, it seems like the sell-off is gradually starting to taper. The daily 10 SMA is looking to do a 180 turn and the PPMs support it. There may be another one more session of continued selling for the stop-hunters but by and large, I would think the downside could be limited. Of course, being still in no-trend territory, all the...
PPMs are still pointing towards a downward momentum for the next 2 or so trading sessions. However after that, it is pointing back up at a recovery. We are still looking at a short sell off incoming. For some reason, the low fib targets are still in play. But the market grid is already narrowing bit by bit. The trading range has already narrowed quite a bit and...
With the algos on both the PPMs and the SMAs pointing downwards, the momentum of the relief rally seems to be short lived. Especially looking at the projected sharp drop in PPM 2 going forward into the next 2 trading sessions, it looks like the 21 SMA is going to be a hard ceiling to crack. Add to that both the faster moving PPMs are currently under their 2nd...
The PPMs are headed up for today and probably stabilise Monday, but from the looks of the algos on PPM1 and especially PPMs 2 and 3, Tuesday's session may not look so rosy. That coupled with next week projected to be a down week, things are not looking too good for next week. I'm not sure what's going on next week other than Powell's speech tonight but bulls may...
Price hit the RTX sell signal in yesterday's trade and subsequently dived back down to the opening level. That followed today with an opening around yesterday's close. PPMs are down for the day but predicted to see some buying back over the next 2 days or so. After all, we did already hit low fib target 1. So is the selling over? Judging by the PPM outlooks, I...
ARRR has yet to go into buy territory. It has gone into the moku cloud, but that does not signify anything yet. This setup is meant to show clear trends, and all we have seen so far is a clear trend down followed by choppiness. If we can get above the cloud, and the cloud turns green, it would be safe to start cost averaging in. For now, the 10SMA has started...
Longer term, the double bottom put in towards the end of last month may signal an upcoming rally in the cards. However, in the shorter term, the recent double top means we could get a small dip before the rally starts. This dip will probably reset the overheated stochastic RSI and get the 3 indicators here to be ready for a move up.
Since my previous update on ARRR, price has only gotten further away from the moku cloud. This does not bode well for this coin. Looks like it is still trying to reverse, but I want to see more signs of a turnaround. The cloud first has to turn green, then the price has to drift into the cloud, and the lagging line has to push above the price line. But for now, it...
Is the bottom in? Who knows? The Renko chart does not predict tops of bottoms but it shows a clear trend in one direction. Money is made in the middle, not catching the tops or bottoms - that's gambling. Either that or you're a market manipulator yourself. Anyway, we are still below the red moku cloud and the lagging line is still below price action. So this...
For now, the trend seems to be down and even the last pump couldn't save it from the bear trend on the 4hr renko chart. Notice the last wick at the start of the current wave down just touched the moku cloud and got rejected. On top of that, the moku cloud did not manage to turn green and instead went back down. The lagging span is also currently below the bricks,...
Things are not looking good for pirate bulls as we have broken the most recent trend line support. 1.50 needs to hold on the weekly if we are still in an uptrend. If not we would be looking at a possible touch of the 1.30 region or even sub dollar levels. On the 12hr, it looks like a descending triangle has formed with a base at 1.67. The stochastic RSI looks...
Dero has made an amazing run recently and is now starting to look overbought. Starting off with the daily, we see the stochastic RSI already topped out at 100. we may linger there for awhile, but it is not sustainable. It needs to cool off and we see the MACD and RSI agreeing - both are starting to flatten out or turn down. We are also at the top of the Bollinger...
- The Moku cloud is still conflicted between red and green, signaling market indecision. - The long wick to the top of the current brick shows that while we tried to rally above 40.5k, we couldn't hold it long enough to make a stand there. - We are still under the green cloud, which means bulls are not ready yet. - At the previous brick, we didn't manage to get...
Looking at the 1day chart, we can see the MACD reversing nicely, though the recent red candle put a dent on the RSI just when it crossed the 50 mark. Trend remains up as it seems we have put a local bottom at 1.6856 region. There is a small problem for the bulls though as the pattern is now an ascending wedge. This more often than not breaks to the downside. A...
There are some signs that the trend is starting to reverse. Looking at the Moku cloud, the bottom of the cloud is starting to curl up. However, the top is starting to curl down, so that balances things out a bit. On the price line itself, the red bricks are still forming downwards, meaning the trend is still clearly negative. We are also below the 10SMA ,...
BTC is getting rejected off a historical resistance area at around 47460. Look at the wick that formed above the last Renko brick. The moku cloud is signaling indecision and the Renko bricks are snaking through the cloud again and again, which is also signaling indecision. Short term we are likely to correct though the moku cloud looks like it is on an uptrend so...