Last few days weren't that great. Got stopped on some trades, and made less than I hoped on projects like $TRX.
Volume is very low on almost every coin, which is never good. $BTC is this downtrend channel for a while now. You could argue for a falling wedge though.
Either way, sitting in fiat right now until this pattern is broken or I notice some very clear bullish signs.
Got some alts on my radar for breakouts though, $BAT $WAVES $ENG $PHX $MCO and ironically, $LINK.
Will share charts in a moment, just gonna smoke and grab some snacks.
Shared this a few days ago. Could argue a cup & handle formation here which is very bullish after it is broken. Still not interested in entrying here, only planning to buy confirmed breakthroughs on alts right now since $BTC is acting up.
You can google the cup & handle formation and see the similarities.
I got some $RVN at 364 with hopes of it retesting 433 a few days ago. It wicked to 437. Right now it's in a minor downtrend channel and I'm not really interested until this bigger downtrend channel is broken.
Chart is 4 days old, but like I said not interested in alts until $BTC decides what it wants to do.
I know, I find it fitting to share $BTC as the first chart since it's the head of the crypto body.
$XRP looks good. Managed to hold 8500 for quite some time now which shows strength and is on my radar for a breakout which might be very near.
Buying the confirmation, but like I said volume is low which sucks. You want to see strong rallies and fomo market buys. That usually doesn't happen when volume is low, just a little pump.
Is this a descending triangle? Does that imply we will see an upward movement potentially?
Considering the length of time, it looks like this triangle will easily test $4k+?
Anthony Harris
what do you think about ETH right now
Luke Smith
That is some terrible TA bro. It is an OK daily candle but just because its bottomed out and that not so bullish candle there's no way for an argument that a similar rally will happen.
Those candles are not similar at all btw.
Here's what I see for $STRAT. Sideways in this 1500-3000 range, just struggling to hold this range too.
There's no way for a bullish argument until 3600 is broken, however if 3000 is broken and retested you could see a test of 3600. That's all I can say for now.
Hey man, you called $85 on the nose for the buy in for BSV. I only wish I wasn't so fudded out by the misinformation from fake pajeets around here and actually bought in this morning. What's next for SV?
It's a falling wedge. A descending triangle has a straight horiztontal support line. A descending triangle is not that bullish of a formation either. Constant lower highs while knocking on the door of support.
An ascending triangle is much much more bullish. Higher lows with knocking on the door of resistance.
I dont understand how you come up with the test of 4k+.
I took the height of the triangle at the beginning and simply made an approx. of where we would break out. Thinking on it, it would be more / less the same strategy with the falling wedge. I'll admit im an epic noob at trading but just good with numbers / math
Jose Gonzalez
Sorry bro, if you checked the last posts of that thread I said that I'm out of $GO at 720 for a further reevaluation of an entry around 602-660
Currently making an ok daily candle and my target range still stands. But like I said, don't like playing alts too much when $BTC is shit.
No.
I called out 85 for a good entry like a week ago before the rally to 116. Right now I think it's going to breakdown to my entry range at 57-75$.
This is where the bearish head and shoulders were. There is no head and shoulders pattern gioing on right now and we are in this yello channel.
Formations and patterns constantly evolve and connect each other. Argument for any formation could be true on the hourly chart but might hold no importance compared to daily/weekly.
So I believe we are still in this cup n handle formation, but the cup has completed with a bearish head and shoulders that lead us to the forming of the handle now.
