Trend reversal.
Not financial advice.
Bitcoin / Japanese Yen.
For entertainment purposes.
Insulting comments are welcome.
Thirty Nine Thousand American Dollars.
Notice how Bitcoin breaks below previous lows (circled) and then gets back above them?
I like that.
What I don’t like is that each time it bounces, it fails to surpass previous highs since March 2024.
It has attempted twice and failed both times. This indicates weakness.
From a psychological point of view, the market could be trapping longs here, given the...
Stacks could be forming a bull flag. a technical chart pattern that indicates a potential continuation of an uptrend.
Bulls managed to bounce off the ~$1.25 zone, previously respected by both buyers and sellers.
Now in a tight spot, facing diagonal resistance, potentially being a key zone to break out of a bull flag.
When prices a tightly compressed, a breakout...
Although Bitcoin bears managed to set a new low a couple of weeks ago, Ethereum bears failed to do so and instead bounced off horizontal support which suggest it is maintaining its value better than Bitcoin.
With Ethereum now back above the 200 EMA (in orange) on the daily chart and holding above the mid range, there is a good probability that the key $4,000 zone...
I don’t know what’s going on behind closed doors at the Ripple office, but the chart certainly looks interesting.
Looking at the daily chart, we can see the price action is approaching a 36 (3+6=9) month old horizontal resistance/support zone.
“If you only knew the magnificence of the 3, 6, and 9, then you would have the key to the universe.” Nikola...
