USDCAD BACK TO 1.3000 LEVEL?From H1 chart, I see usdcad has potential go back higher above 1.3000 level. For this long position the risk is below the kumo which I mark on the chart with the text "risk area".
Trade well. Trade wisely. 🙏🙏🙏
Movingaverageconvergencedivergence
BTCBUSD SET TO RETEST 17K LEVELAs the price failed to kove higher after hit 17k level, now we have btcbusd's candlestick running below the cloud of ichimoku indicator. From MACD perspective, the signal line cross downward as it is below 0 (bearish mode).
I see the btc at least to revisit 17k level.
The risk for this sell position is above senkou b.
Trade wisely. Trade well. 🙏🙏🙏
ETH BACK TO VISIT 800-900 AREA?I spotted from h4 chart ETH is bearish mode. From ichimoku perspective it is possible back to 900 to 800 area. The risk for the short trade is above senkou b. The green rectangle is my projection of taking profit area.
Manage your trade. Trade well. Trade wisely.
🙏🙏🙏
As A Neutral Trader, What Would I Do For USDJPY?This USDJPY rally has been incredible. Thousand pips since March 2022. Anyway if I have NO position and what would I do this market?
1. If the market keeps rallying I would try to short whenever market near the upper chanel of my paralel trend chanel.
2. Let's say the market reverse downward I am going to look for confirmation to enter sell.
Personally the rally has been huge so I will not prefer to buy. Just wait for the right moment to sell either whenever market up near the upper chanel of my paralel chanel or if the market comes down I will wait for the confirmation to enter short USDJPY.
BCH BELOW 100 ?I have marked in A,B, C, D, this BCH is potentially under threat to go below 100. The bearish pressure is huge. For short position the risk is above senkou B. The conclusion is going down for this BCH.
Be wise with your risk and reward. I don't share where will be the taking profit area (remember risk is above senkou B h4 TF). This is my subjective opinion.
Another Downward For NZDUSD?I expect another downward movement for NZDUSD with the risk above senkou b. The risk for this sell position is if the price managed to break above senkou b. The logic taking profit area is nearest chikou (I mark with blue rectangle).
From MACD perspective currently is bearish for NZDUSD.
XAUUSD On Card To The Downside?As we can see from 4H chart, from ichimoku indicator perspective, chikou span below the cloud, candle below the cloud, kijun above tenkan. It is indicating bearish market.
From MACD perspective it is below 0, which it is bearish market.
I also mark the risk area (red area) and possible taking profit area (blue color).
Happy trading. Manage your own risk and target.
VET/USDThis is a longterm analysis of a possible 3 year outlook for VET/USD using the 1 week chart.
Here is a closer look at this VET/USD 1 week Chart.
On this 1 week timeframe, VET has been back above its Least Squares Moving Average (LSMA) since the week of 7th March 2022. Note that a weekly close ABOVE the LSMA is considered a BUY SIGNAL for this indicator.
VET is also back ABOVE its Bollinger Bands Middle Band Basis 20 Period SMA for this 1 week timeframe. Note that the Upper and Lower Bands are still contracting indicating VET still has plenty of room to move up or down before expansion kicks in and it becomes over extended on this 1 week timeframe.
VET is Back ABOVE its 100MA (Red Line) but still BELOW its 50MA (Blue Line) on this 1 week timeframe.
VET is in a massive Rising Wedge Pattern, the APEX of which is around the week of 5th - 12th May 2025 and is at around $8.8 as indicated by the Rising Converging Blue Lines.
VET is also in a Triangle Pattern as indicated by the Converging Black Dotted Lines.
Looking at the Trend-Based Fib Extension we can see that at the moment, VET has found some resistance from its 0.236 level at $0.0876. Note that the Fib Levels are based on Log Scale.
VET closed the last weekly Volume Bar ABOVE its Volume 20 Period MA, in the Green and this weekly Volume Bar will also close ABOVE its Volume MA.
VET is above its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 3 Weekly Candle that i have selected.
Looking at the Moving Average Convergence Divergence (MACD), we can see that we have a BUY SIGNAL on this indicator for this 1 week timeframe because the MACD Line (Blue Line) has crosses back ABOVE the SIGNAL Line (Orange Line) creating a new Green Histogram. This is the first new BUY SIGNAL since the week of 25th Oct 2021 and it’s the first new Green Histogram since 22nd Nov 2022. Note that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Base Line, so the next key thing will be when the MACD Line (Blue Line) crosses back over and ABOVE the 0.0 Base Line into the Positive Zone.
Looking at the Relative Strength Index (RSI) for this 1 week timeframe, we can see that Momentum is upwards at the moment and the RSI (Purple Line) is back above its 9 Period EMA (Orange Line) and indicating upwards momentum strength. Note that the RSI (Purple Line) has plenty of room to move up before entering the Overbought Zone which is above 70 on this 1 week timeframe.
Looking at the Average Directional Index (ADX DI) we can see that the Trend Strength is still weak with the ADX (Orange Line) at 14.51 under the 20 Threshold and under its 9 Period EMA (Black Line). Positive Momentum has increased with the +DI (Green Line) rising to 25.101 and ABOVE its -DI (Red Line) which is at 19.21. A very good sign on this 1 week timeframe will be if we continue to see the +DI (Green Line) expand further away from the -DI (Red Line) as well as the ADX (Orange Line) crossing back ABOVE its 9 Period EMA (Black Line) and AOVE 20 Threshold.
With such a large rise on the Daily, we shouldn't be surprised if VET re-traces back to its LSMA or even its Bollinger Bands Middle Band Basis 20 Period SMA on the 1 day timeframe. Here is a look at the 1 day chart so you can see the Expansion of the Bollinger Bands. Note that VET found support today from its LSMA Level on the 1 day chart.
Obviously a lot can happen and change in 3 years with the Crypto Market, VET can easily break ABOVE or BELOW and CLOSE a Weekly Candle ABOVE or BELOW the Rising Wedge Pattern's Trend Lines to invalidate it way before it ever gets to the APEX.
The first crucial step for VET will be CLOSE a weekly Candle ABOVE its 0.236 Trend-Based Fib Level at 0.0876 and if needs be, to successfully re-test that level as strong support.
Key things to look out for the potential start off on this VET/USD longterm 1 week timeframe in no particular order:
For the Positive Side:
1: A successful close ABOVE the 0.236 Trend-Based Fib Extension level.
2: Expansion of the Upper and Lower Bollinger Bands while the Price is above the Upper Band.
3: A successful Weekly Close ABOVE the 50MA,
4: The BB Middle Band 20 Period SMA crossing back ABOVE the 50MA
5: The 100MA crossing back ABOVE the 50MA
6: The MACD Line (Blue Line) crossing back above the 0.0 Base Line into the Positive Zone
7: The ADX Line (Orange Line) crossing back ABOVE the 20 Threshold and its 9 Period EMA (Black Line).
8: A Weekly close ABOVE the Ascending Upper Blue Trend-line of the Rising Wedge Pattern.
9: A Weekly Close ABOVE the Upper Triangle Pattern Trend-line.
10: A successful close ABOVE the 50MA.
For the Negative Side:
1: A successful close BELOW the 0.236 Trend-Based Fib Extension level.
2: A drop back UNDER the BB Middle Band Basis 20 Period SMA.
3: A Weekly Close back UNDER the 100MA,
4: A weekly Close back UNDER the LMA.
5: The 100MA crossing back ABOVE the 50MA
6: The MACD Line (Blue Line) crossing back UNDER the SIGNAL LINE (Orange Line)
7: The +DI (Green Line) crossing back UNDER the -DI (Red Line).
8: A Weekly close BELOW the Ascending Bottom Blue Trend-line of the Rising Wedge Pattern.
9: A Weekly Close BELOW the Lower Triangle Pattern Trend-line.
10: The RSI (Purple Line) crossing back UNDER its 9 Period EMA (Orange Line)
I’m sure I’ve missed a few things but that’s probably enough of me rambling on.
I hope this post is helpful with your Trading, Hodl-ing or DCA-ing.
Bitcoin coud be ready to start pumping hardAs you can see in the chart Bitcoin looks very bearish, it has reached the previous bull market high witch is a strong support, but it broke this one and closed a daily candle under it.
It has made lower lows but if you look at the Moving Average Convergence Divergence indicator it hasn't reached new pronounced lows while bitcoin has.
It has formed a clear triple bullish divergence that is a super strong buy signal and an early sign of trend reversal.
In the other side we have a broken support witch is a strong sell signal and i think that it would be difficult for the price to close over 21k in short term.
In my opinion is more likely for it to form an accumulation channel between 17500$ and 21000$ and then it will come the strong move.
What side? I don't know, In my opinion the mos wise full action is to wait for confirmation and take action.
If it closes a daily over 22500$ within this week the reversal could be confirmed but if it fails the failed Moving Average Convergence Divergence triple bullish divergence will turn in a very strong sell signal, and the price will go lower.
I will be glad to see what do you think in the comments, if you agree with me give me a like, it helps a lot.
BTC/USD - 1 day chart analysisLooking at the BTC/USD daily chart we can see that BTC is still under its Least Squares Moving Average as well as still under its Bollinger Bands Middle Band Basis 20 Period SMA. Note that we have expansion of the Lower Bollinger Band.
BTC is still in a Descending Pitchfork Pattern and has found some support from its Upper Green Pitchfork Support Line. Note that BTC is still above the Descending pitchfork Median Line. A drop to the Pitchfork Median Line would take BTC to around $20,000 which is new its 0.786 Trend-Based Fib level at around $20,122.
I have added various Support Lines on this chart and you can see the major Descending trend-line that BTC must CLOSE ABOVE and if needs be to successfully re-test as support on this 1 day timeframe. There are more support lines i could add but the chart would become too messy.
Looking at the Trend-Based-Fib Extension we can see that BTC is still under its 0.5 Trend-Based Fib level around $30,352.
Looking at the Volume Profile Visible Range (VPVR) we can see areas of interest that that might arise that has previously had massive volume. These levels coincide with the Support and Resistance Lines that I’ve added. The Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range is at around $19,112.
I have added a Volume Profile Fixed Range (VPFR) indicator which is from 27th Mar 22 to 11th June 22 and as you can see BTC is still below its Volume Profile Fixed Range Point of Control (VPFR POC) for that fixed range.
Here is a closer look at this 1 day chart.
Looking at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Base Line on this 1 day chart. Note that it looks like the MACD Line (Blue Line) may cross back under its Signal Line (Orange Line) creating a Sell Signal for this indicator on this 1 day timeframe.
Looking at the Average Directional Index (ADX DI) we can see that Negative Momentum has increased with the -DI (Red Line) rising to 25.39 and Positive Momentum has dropped with the +DI (Green Line) dropping to 15.50. Note that the Trend Strength is now turning sideways with the ADX (Orange Line) at 24.18 and the 9 Period EMA (Black Line) is heading downwards at 34.37. If the ADX (Orange Line) crosses back above the 9 Period EMA (Black Line) then that will be further strength for the downside if the -DI (Red Line) is still above the +DI (Green Line) on this 1 day timeframe.
All in all looking at this 1 day chart mid-term wise BTC shows no sign of breaking to the upside just yet. Look like there will be continued opportunities to acquire your crypto of choice at bargain prices.
I hope this chart is helpful with your Trading and Hodl-ing.
VET/USD - UpdateAs I mentioned in my previous VET post in March, there was always a possibility that VET would drop out of the Bottom Trend-line of its Ascending Wedge and Invalidate that Ascending Wedge Pattern, which has happened. VET also failed to get back above its 0.236 Trend-Based Fib extension Level on that previous chart so we know that $0.087 is the price that VET needs to close a daily candle above solidified with a successful re-test as support.
So let’s move on.
Using a longterm Modified Schiff Pitchfork Pattern (A,B,C), you can see that VET is still below its Modified Schiff Pitchfork Pattern Median Line.
At the moment VET has found some support from its Lower Green Pitchfork Support Line.
Let’s take a closer look at this 1 day VET USD chart with the Bollinger Bands, LSMA and VPFR POC.
At the moment VET is fighting to stay back above its Bollinger Bands Middle Band Basis 20 Period SMA for this 1 day timeframe. Not that the Upper and Lower Bands are moving sideways at the moment. Using the VPVR, you can see that the Upper and Lower Bands are located roughly above and below an area of large volume.
At the moment VET has found some support from its Least Squares Moving Average (LSMA) level. A daily close ABOVE the LSMA is crucial for continued upwards momentum.
At the moment VET is trying to stay back above its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 22x daily candles i have selected.
For your viewing pleasure i have added various support and resistance lines (Black Solid Lines and Black Dotted Line) as well as various support areas as highlighted by the horizontal black lines with yellow shading.
As you can see, VET is now in a Descending Triangle Pattern (Bearish) as well as a Descending Wedge Pattern (Bullish). Note that the APEX of the Descending Triangle is located around Nov 2022 and the APEX of the Descending Wedge is located around March 2023. Note that a pattern can easily become invalidated with the price drop below and successful re-test as resistance of the bottom trendlines.
Looking at the Average Directional Index (ADX DI) we can see that Positive Momentum is still downwards with the +DI (Green Line) dropping to 14.17. Note that Negative Momentum is also down with the -DI (Red Line) dropping to 20.00. Note that the Trend Strength is still strong but has dropped with the ADX (Orange Line) dropping to 30.52 and the ADX is also back under its 9 Period EMA (Black Line) at 33.84 which is further confirmation of a weakening of Trend Strength at the moment.
Looking at the Moving Average Convergence Divergence (MACD), we can see that Momentum is upwards at the moment with the MACD Line (Blue Line) pointing upwards and is still back above its Signal Line (Orange Line) on this 1 day timeframe. Note that the MACD Line (Blue Line) is still BELOW the 0.0 Base Line in the Negative Zone.
Looking at the bottom Volume indicator we can see that overall traded volume is still low especially compared to what VeChain was getting from around October 2019 to May 2021. This is similar to Bitcoin’s daily chart which possibly means that while big money might actually be accumulating crypto assets like BTC, but there hasn’t been a constant inflow of big money actually trading crypto like BTC on a regular basis since around May 2021.
Using the Volume Profile Visible Range (VPVR) indicator, you can see where the Volume Profile Visible Range Point of Control (VPVR POC) is for this VeChain Chart is. Using the entire charts range we can indicate at what price range was the most volume was traded at. At the moment the Crypto market is following BTC so if BTC drops to $20k or $12,400 then we may see a wick down to around $0.009 which would offer a real great buying opportunity for most crypto. If BTC doesn’t drop to $20K then we will see VeChain eventually break back above its Descending Triangle, its Descending Wedge and eventually back above its Modified Schiff Pitchfork Median Line.
I hope this post is helpful with your trading or hodl-ing.
ADA/USDA quick look at the ADA/USD 1 day chart:
ADA is still below its Longterm upwards Pitchfork (Blue A,B,C) Median Line on this 1 day timeframe.
ADA is also below its smaller descending Pitchfork (Black A,B,C) Median Line on this 1 day timeframe.
ADA is still below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1 day timeframe. Note that the Lower Band is till pointing downwards and the Upper Band is now moving downwards.
At the moment of typing this, ADA is trying to get back and stay above its Least Squares Moving Average (LSMA) on this 1 day timeframe.
Note that ADA is still above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts entire Visible Range. Looking at this range gives us a sense of potential upcoming areas of previous volume interest that may offer good buying opportunities if ADA drops lower.
ADA is also still under its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 11x Daily Candles that i have Selected.
Looking at the Ichimoku Cloud with the 20,60,120,30 settings:
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the Mid-point of the Short-term Momentum is sideways at the moment.
The Ichimoku Cloud Base Line (Kijun Sen) is indicating that the Mid-point of the Mid-term momentum is also sideways at the moment.
The Ichimoku cloud Lagging Span (Chikou Span) is indicating that momentum is upwards at the moment for this 1 day candle. Note that The Lagging Span (Chikou Span) is still under the Price from 30 Periods ago.
Note that both the Leading Span A (Senkou Span A) and Leading Span B (Senkou Span B) are moving sideways at the moment indicating a decrease in volatility at the moment.
Looking at the Average Directional Index (ADX DI) we can see that the Trend Strength is strong with the ADX (Orange Line) at 40.249 and above its 9 Period EMA (Black Line) which is at 37.203. Negative momentum is still dominant with the -DI (Red Line) at 29.750 but note it has dropped from 37.0. Positive Momentum has increased slightly with the +DI (Green Line) rising to 10.83.
Looking at the Moving Average Convergence Divergence (MACD), we can see that momentum is sideways with a slight upwards trajectory. Note that the MACD Lien (Blue Line) is still under its Signal Line (Orange Line) and still in the Negative Zone under the 0.0 Base Line on this 1 day timeframe.
Potential areas of previous Volume interest to look out for if you want to go long on ADA if ADA drops further are potentially:
$0.411 to $0.298,
$0.179 - $0.128,
$0.111 - $0.082,
$0.049 - $0.033.
Using the indicators on this chart, for confirmation of a renewed mid to longterm uptrend on this 1 day timeframe, we need to see:
1: ADA to successfully close a daily candle ABOVE its Bollinger Bands Middle Band Basis 20 Period SMA and stay above it.
2: ADA to successfully close a daily candle ABOVE its Least Squares Moving Average (LSMA) and stay above it.
3: ADA to cross back into the Bullish Zone of the Ichimoku Cloud and for the Leading Span A (Senkou Span A) to cross back ABOVE the Leading Span B (Senkou Span B) creating a Kumo (Cloud) Twist creating a new Bullish Green Cloud for this 1 day timeframe.
4: The Ichimoku Cloud Lagging Span (Chikou Span) to cross back ABOVE the Price from 30 Periods ago and stay above the price below it.
5: The +DI (Green Line) to cross back ABOVE the -DI (Red Line) on the Average Directional Index (ADX DI)
6: the MACD Line (Blue Line to cross back ABOVE its Signal Line (Orange Line) and back ABOVE the 0.0 Base Line into the Positive Zone on this 1 day timeframe.
7: ADA to cross back ABOVE both Pitchfork Median Lines especially the Longterm upwards Pitchfork (Blue A,B,C).
Apologies for the lack of posting, i have been busy filming a new feature film. I'm sure there's more things i could post and I've probably missed a few things but this hopefully gives people enough for to ponder.
I hope this is helpful with your trading and hodl-ing.
ADA/USDAt the moment of typing this, ADA is still below its longterm Pitchfork Median Line and has been below it since the 3rd March 2022.
ADA is also in a Descending Pitchfork Pattern (Black A,B,C). At the moment, ADA is still above its Descending pitchfork Median Line. At the moment, ADA has found some support from its Descending Upper Yellow Pitchfork Support Line.
At the moment ADA is back above its Least Squares Moving Average (LSMA) for this 1 day timeframe.
At the moment, ADA is also back above its Bollinger Bands Middle Band Basis 20 Period SMA. Not that we have yet to get expansion of the Upper and Lower Bands
Using the Ichimoku settings of 20,60,120,30, we can see that ADA is still in the Bearish Zone of the Ichimoku Cloud and ADA has not made an attempt to break back into the Equilibrium Zone since the 18th Jan 2022 when ADA failed to close a daily candle within the Cloud.
At the moment, ADA is above its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 20x daily candles that i have selected.
At the moment, ADA is still below its Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range.
At the moment, Volume on this Binance Chart for ADA is still relatively low compared to what ADA was getting around May 2021.
Looking at the Average Directional index (ADX DI), Positive Momentum has dropped with the +DI (green Line) dropping to 22.56 and note that Negative Momentum has also dropped with the -DI (Red Line) dropping to 18.89. The Trend Strength is still weak with the ADX (Orange Line) at 18.57 and still below the 20 Threshold and also below its 9 Period EMS (Black Line) at 20.82.
Looking at the Moving Average Convergence Divergence (MACD), the MACD Line (Blue Line) is indicating momentum is upwards at the moment and it is above its Signal Line (Orange Line). Note that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Base Line on this 1 day timeframe. Note that the MACD Line (Blue Line) has not been in the Positive Zone above the 0.0 Base Line since 20th Jan 2022 on this 1 day timeframe.
Here is a wider look at this ADA 1 day chart with its Longterm Pitchfork Pattern:
Looking at this ADA 1 day chart, i personally wouldn’t get excited until ADA gets back above its Longterm Pitchfork Median Line and also starts making a Hight Highs and Higher Lows above $1.63. So depending on what BTC does and what your Trading plan, Hodl-ing Plan or DCA plan is, it looks like there will still be good opportunities to acquire more ADA or your crypto of choice at a discount price. On another note, if ADA drops below its Descending pitchfork Median Line then we can expect to hit $0.622 but that is if support of the Descending Pitchfork Median Line fails as support. I would keep an eye on whether or not both the LSMA and Bollinger Bands Middle Band Basis 20 Period SMA continues to be Support or become Resistance on this 1 day timeframe.
I hope this post is helpful for your Trading or Hodl-ing.
VET/USDVeChain update:
As with most cryptos, downwards pressure is still dominant.
VET is still in a Descending Channel, VET broke above the Descending Channel on the 3rd of March but quickly came back down and closed back inside the Descending Channel so the Descending Channel is still valid.
VET is still below its Bollinger Bands Middle Band Basis 20 Period SMA on this 1d timeframe. Note that we have expansion of the Lower Bollinger Band and this expansion is for negative momentum.
VET is getting very close to its Least squares Moving Average (LSMA) indicator, a close below the LSMA will be considered a sell signal on this 1 day timeframe for this indicator.
VET is still below its Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range.
VET is still below its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 11x daily candles that i have selected.
I have added various Support and Resistance areas s highlighted by the Horizontal Blue Line with Yellow Shading.
Looking at the Moving Average Convergence Divergence (MACD), we can see that the MACD Line (Blue Line) is sideways at the moment and still under the 0.0 Base Line in the Negative Zone. If the MACD Line (Blue Line) crosses back under the Signal Line (Orange Line) then that will be considered a sell signal for this indicator on this 1 day timeframe. Not that the last 3 Green Histograms have lightened and lessoned in size indication a weakening of positive momentum. Note that the MACD Line (Blue Line) has not been in the Positive Zone above the 0.0 Base Line since the 21st Nov 2021 on this 1 day timeframe.
Looking at the Stochastic Indicator (STOCH) we can see that momentum is downwards at the moment and note that the %K Line (Bluer Line) is still below its %D Line (Orange Line) on this 1 day timeframe. Important to note that the %K (Blue Line) still has plenty of room to drop much more before becoming Oversold on this 1 day timeframe.
Looking at the Average Directional Index (ADX DI) we can see that the trend strength is very weak with the ADX (Orange Line) under its 20 Threshold at 19.23 and still under its 9 Period EMA (Black line) which is at 21.60. Note that Positive Momentum has dropped its the +DI (Green Line) dropping to 19.26. Negative Momentum is still dominant but has dropped to 23.63.
Here is a wider look at this VET/USD 1 day chart so you can see the previous VPVR POC area:
I still think that BTC will hit $24k this year, if that is the case & if downwards pressure continues and VET breaks below its $0.0389 support then i think we will see VET hit around $0.0293 - $0.0282 as that area is VET’s previous very strong VPVR POC area.
At the moment, the Market Makers have decided that the path of least resistance to profit is still downwards, this goes for most stocks, Indices and Cryptos. As we know BTC is following the downwards momentum of the stock market and all alts are following BTC.
I closed all my crypto trades back in Dec 2021, luckily still in profit. I have only had 1 crypto trade on since which i closed at a 10% profit, that was a VTHO/USDT trade. I am positioning myself to fully be able to buy back in on my various cryptos of choice when the time arises because bear markets do not last forever.
I hope this is helpful with your trading and hodl-ing.
BTC/USD - 1hr chartQuick and dirty BTC/USD 1hr chart update.
BTC has found support from its Bollinger Bands Middle Band Basis 20 Period SMA on this 1hr timeframe. Note that we have expansion of the Upper and Lower Bollinger Bands and this expansion is for Positive Momentum.
BTC is also back above its Least Squares Moving Average (LSMA) for this 1h timeframe. A close above the LSMA is considered a Buy Signal for this indicator but if BTC drops then we need a successful re-test as strong support to be sure.
Note that BTC is back above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts visible range.
I have added various support and resistance areas as indicated by the Horizontal Blue Lines with Yellow Shading and various Support and Resistance Lines as indicated by the Blue Lines.
As you can see, BTC is also in an Ascending Triangle Pattern on this 1hr timeframe. As you can see, the top of the ascending triangle pattern is a major resistance area.
BTC has strong resistance from its resistance area located around $39,489 to $39,738. A successful close above this resistance area and successful re-test as support will eventually send BTC to resistance area located around $40,809 to $40,993.
Looking at the Moving Average Convergence Divergence (MACD) we need to keep an eye on the MACD Line (Blue Line). If the MACD Line (Blue Line) crosses back above the Signal Line (Orange Line) then that will be a Buy Signal for this indicator on this 1hr timeframe.
Failure to close a 1hr candle above the resistance area located around $39,489 to $39,738 and successful re-test as support will result in either continued sideways ranging within a range or a drop back to around $38,532 and possibly lower.
I hope this is helpful with your trading and hodl-ing.
BTC/USDBTC update.
Here is a closer look at this 1 day BTC/USD Bitstamp Chart.
BTC is still below its Bollinger Bands Middle Band Basis 20 Period SMA on this 1 day timeframe. Note that the Upper and Lower Bands have started to expand outwards and this expansion is for negative momentum.
BTC is also still below its Least Squares Moving Average (LSMA) for this 1 day timeframe.
I have added various support and resistance line as well as various support area on this 1 day timeframe.
Looking at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) has crosses below its Signal Line (Orange Line) and dropped below the 0.0 Base Line into the Negative Zone. Note that this is the first drop back into the Negative Zone since 19th Nov 2021 on this 1 day timeframe.
Looking at the Average Directional Index (ADX DI) we can see that Negative Momentum has increased with the -DI (Red Line) rising to 28.86 and Positive Momentum has dropped with the +DI (Green Line) at 19.78. Note that the Trend Strength has increased with the ADX (Blue Line) turning slightly sideways at 21.92. Note that the ADX (Blue Line) is still below its 9 Period EMA (Black Line) which is at 25.21.
If BTC closes a daily candle below its $37,780 - $37,168 support zone and that support zone becomes strong resistance then crucial area for BTC is the support area located at around $31,100 to around $28,646.
I hope this is helpful with your trading and hodl-ing.
VET/USDVeChain Update
VeChain had broke out of its previous Falling Wedge Pattern but is still in a downwards channel.
VeChain failed 4x to close above its sideways Pitchfork Median Line (A,B,C).
VeChain has closed below its Least Squares Moving Average (LSMA) on this 1 day timeframe. Note that a close below the LSMA is considered a sell signal.
At the moment, VeChain has found support from its Bollinger Bands Middle Band Basis 20 Period SMA. A close below the BB Basis and re-test as resistance will be further confirmation of continued downwards momentum on this 1 day timeframe.
Note that VeChain is still below its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 10x daily candles that i have selected.
Note that VeChain is still below its Volume Profile Visible Range Point of Control (VPVR POC) fro this charts visible range.
Volume is still low on this Binance chart and the last 4x daily Volume Bars have closed below its Volume 20 Period MA.
I have added some areas of potential support as highlighted by the horizontal Black Lines with Yellow Shading.
Looking at the Average Directional Index (ADX DI) we can see that Negative Momentum has overtaken Positive Momentum on this 1 day timeframe because the -DI (Red Line) has crossed back above the +DI (Green Line). The -DI (Red Line) has risen to 22.81 and the +DI (Green Line) has dropped to 18.72. The trend strength is weakening with the ADX (Orange Line) dropping to 24.14 an it is still below its 9 Period EMA (Black Line) which is at 28.46 and is a further sign of weakening trend strength.
Looking at the Elders Force Index (EFI) we can see that the bulls have lost a lot of strength but is sideways at the moment, note that the EFI Line (Red Line) is still above the 0 Base Line. Note that the EFI Line (Red Line) has dropped below its 9 Period EMA (Cyan Line) which is a further sign of weakening bull strength. If the EFI (Red Line) crosses below the 0 Base Line then that means that the Bears have taken full control on this 1 day timeframe.
Looking at the STOCHASIC indicator (STOCH) we can see that momentum is downwards at the moment and note that the %K Line (Blue Line) is still below its %D Line (Orange Line). Note that the %K Line (Blue Line) is indicating that VeChain still has room to drop before becoming Oversold on this 1d timeframe.
Looking at the Moving Average Convergence Divergence (MACD), we can see that the MACD Line (Blue Line) is point downwards and is still under the 0.0 Base Line in the Negative Zone. The MACD Line (Blue LIne) is still above its Signal Line (Orange Line) so we need to keep an eye on this as if the MACD Line (Blue Line) crosses back below the Signal Line (Orange Line), as this will be a sell signal for this indicator on this 1 day timeframe.
There are a few things to look out for if you are uncertain if or when to go long, be on the lookout for a successful daily close above the LSMA, the Bollinger Bands Middle Band Basis and The Pitchfork Median Line as well as keeping an eye out for any successful retest of those levels as support. With any rise, you need to also keep an eye on the volume as ideally you want any sustainable rise to be supported by increasing volume strength. Also be on the lookout for if/when VeChain crosses back above the upper descending trend-line of the descending channel as well as any successful retest of that previous resistance as support.
So at the moment, it looks like there will be some really good opportunities coming up to acquire more VeChain or your crypto of choice at a much cheaper price.
I hope this is helpful with your trading and hodl-ing.
MATIC/USDHere is a closer look at this MATIC 1d Binance chart.
MATIC is in a massive Ascending Triangle Pattern on the 1 day chart. An Ascending Triangle Pattern is potentially a Bullish Continuation Pattern. The APEX of this Triangle Pattern is around July 2022. For your viewing pleasure, I have added various support and resistance lines within this Ascending Triangle.
At the moment, MATIC is ABOVE its Bollinger Bands Middle Band Basis 20 Period SMA for this 1 day timeframe. Note that the Upper and Lower Bands are converging inwards indicating volatility has slowed at the moment.
Note that MATIC is still above its Least Squares Moving Average (LSMA) for this 1 day timeframe.
MATIC is above its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 11x daily candle that i have selected.
Note that MATIC is still above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range.
Note that Volume is still low on this Binance chart and note that the last 8x Volume Bars have been BELOW its Volume 20 Period MA.
Looking at the Average Direction Index (ADX DI) we can see that the Trend Strength is still strong but has lost some strength with the ADX (Orange Line) dropping slightly to 27.562 below its 9 Period EMA (Black Line) which is at 27.585. Note that Negative Momentum has dropped sharply with the -DI (Red Line) dropping to 26.771. Positive Mmentum has also dropped slightly but not as sharply with the +DI (Green Line) at 18.693. For sustainable upwards momentum to continue, we need the +DI (Green Line) to CROSS back ABOVE the -DI (Red Line) on this 1 day timeframe.
Looking at the Moving Average Convergence Divergence (MACD) we can see that momentum is upwards at the moment and the MACD Line (Blue Line) is still ABOVE its Signal Line (Orange Line) on this 1 day timeframe. Note that the MACD Line (Blue Line) has not been above the 0.0 Base Line in the Positive Zone since 7th Jan 2022 on this 1 day timeframe. Be on the lookout for when the MACD Line crosses back above the 0.0 Base Line into the Positive Zone.
Taking a quick look at the Relative Strength Index (RSI) we can see that momentum at the moment is slightly downwards. Not that the RSI (Purple Line) is still ABOVE its 9 Period EMA (Orange Line) which is a sign of upwards momentum strength at the moment. Be on the lookout just incase the RSI (Purple Line) drops more and crosses back below its 9 Period EMA (Orange Line).
MATIC needs to stay above the Bollinger Bands Middle Band Basis 20 Period SMA and the LSMA indicator for any longterm upwards momentum to be sustainable.
If BTC takes another nose dive and causes MATIC to drop downwards out of the Ascending Triangle Pattern then MATIC may drop to its VPVR POC around $0.83 so we need to keep an eye on what BTC is doing as BTC still controls the market direction.
If the Ascending Triangle Pattern stays valid, then MATIC may be in for a big move up to possibly well above $10 if it successfully breaks back above the Ascending Triangle Resistance line.
I hope this is helpful with your trading and hodl-ing.
ADA/USDHere is a closer look at this ADA 1 day Binance chart.
As you can see, ADA is in a massive Descending Triangle Pattern. A Descending Triangle Pattern is potentially a Bearish Continuation Pattern.
Note that ADA is still ABOVE its Longterm Pitchfork Median Line on this 1 day timeframe.
ADA is still below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1 day timeframe. Note that the Upper and Lower Bands are starting to contract and pinch inwards.
At the moment ADA is above its Least Squares Moving Average (LSMA) on this 1 day timeframe.
Volume is still low on this Binance daily chart and note that the last 13x daily Volume Bars have been below its Volume 20 Period Moving Average.
At the moment ADA is above its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 12x daily candles that i have selected.
If we zoom in on the chart, at the moment ADA is below its Volume Profile Visible Range (VPVR POC) for this charts visible range.
If we look at the Average Directional Index (ADX DI) we can see that the Trend Strength is very weak with the ADX (Orange Line) at 16.185 and dropping below the 20 Threshold and under its 9 Period EMA (Black Line) which is at 18.559. Positive Momentum has increased with the +DI (Green Line) dropping slightly to 21.931. Negative Momentum has decreased with the -DI (Red Line) dropping to 20.268. We need the +DI (Green line) to stay above the -DI (Red Line) and move further apart.
Taking a quick look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is indicating momentum is upwards at the moment and it is still above its Signal Line (Orange Line) but note that the MACD Line (Blue Line) is still under the 0.0 Base Line in the Negative Zone. Note that the MACD Line (Blue Line) has not been above the 0.0 Base Line in the Positive Zone since 20th Jan 2022 on this 1 day timeframe.
Taking a quick look at the Relative Strength Index (RSI) we can see that momentum is downwards art the moment and note that the RSI (Purple Line) is still above its 9 Period EMA (Orange Line) but because momentum is downwards we need to keep an eye on the RSI (Purple Line) the close it gets to its 9 Period EMA (Orange Line).
At the moment i still think it's Sideways at best or Downwards at worst for ADA. For any longterm recovery to become sustainable for ADA, we need ADA to make a higher high and CLOSE a daily candle ABOVE the $1.63 blue highlighted area.
I hope this is helpful with your trading and hodl-ing.
BTC/USD - Ascending TriangleHere is a quick BTC 4hr Chart update.
At the moment, BTC is in an Ascending Triangle Pattern on this 4hr timeframe. An Ascending Triangle Pattern is a potential Bullish Continuation Pattern.
At the moment, BTC is above its Bollinger Bands Middle Bands Basis 20 period SMA on this 4hr timeframe.
At the moment, BTC is above its Least Squares Moving Average (LSMA) on this 4hr timeframe.
At the moment, BTC is back in the Bullish Zone of the Ichhimoku Cloud back above its Leading Span B (Senkou Span B) resistance Level on this 4hr timeframe.
At the moment, BTC is back above its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 11x 4hr candles that i have selected.
At the moment, the MACD Line is still above the 0.0 Base Line in the Positive Zone and is also still above its Signal Line on this 4hr timeframe.
For the upside, be on the lookout for a successful break ABOVE the Horizontal Resistance Line of the Ascending Triangle and any successful re-test as support. For the downside, be on the lookout for a break BELOW the Ascending Support Line of the Ascending Triangle and any successful re-test as resistance.
It should be an interesting couple of hours.
An introduction to the MACD indicatorHere is my quick and dirty introduction/explanation of what the Moving Average Convergence Divergence (MACD) indicator………… indicates.
The Moving Average Convergence Divergence (MACD) is a trend following momentum indicator that follows the intimate relationship between a 12-Period EMA and a 26-Period EMA on a price chart in whatever timeframe you are in.
The MACD indicator is made up of 6 parts, the MACD Line, the Signal Line, the Histogram, the 0.00 Base Line, the Positive Zone and the Negative Zone.
As default, the MACD Line is calculated by subtracting the value of a 26-Period EMA from the value of a 12-Period EMA on your chart to give you your MACD Line value. The MACD indicator will give a MACD Line value in whatever timeframe you are in.
The Signal Line is a 9-Period EMA of the MACD Line and is used with the MACD Line to generate/trigger Buy and Sell Signals. If the MACD Line crosses ABOVE the Signal Line, that is considered a Buy Signal. If the MACD Line crosses BELOW the Signal Line, that is considered a Sell Signal. Note that Buy and Sell Signals can be generated in both the Positive and Negative Zones
The Histogram is a graphical representation of the distance between the MACD Line and the Signal Line (9-Period EMA).
Green Histograms will appear above the 0.00 Base Line when the MACD Line crosses ABOVE the Signal Line. The Green Histograms will Increase in size the further the MACD Line moves upwards & away from its Signal Line. The Green Histogram will also lighten in colour if the MACD Line fails to move higher to create a higher Green Histogram Bar.
Red Histograms will appear below the 0.00 Base Line when the MACD Line crosses below the Signal Line. The Red Histograms will increase in size the further the MACD Line moves downwards & away from its Signal Line. The Red Histogram will also lighten in colour if the MACD Line fails to move lower to create a lower Red Histogram Bar.
The Positive Zone is the area ABOVE the 0.00 Base Line. If the MACD Line crosses above the 0.00 Base Line, this means that a 12-Period EMA is ABOVE a 26-Period EMA on your price chart in whatever timeframe you are in. So to reiterate, the MACD Line will be ABOVE the 0.00 Base Line when a 12-Period EMA is ABOVE a 26-Period EMA on your price chart.
The Negative Zone is the area BELOW the 0.00 Base Line. If the MACD Line crosses below the 0.00 Base Line, this means that a 12-Period EMA is BELOW a 26-Period EMA on your price chart in whatever timeframe you are in. So to reiterate, the MACD Line will be BELOW the 0.00 Base Line when a 12-Period EMA is BELOW a 26-Period EMA on your price chart.
Note that the MACD indicator has no upper limit in the Positive Zone and no lower limit in the Negative Zone.
The MACD indicator can also be used to show Divergence between the Price and the MACD Line. In a Bullish scenario, if the Price is making Lower Lows and the MACD Line is making Higher Lows then this is potentially Bullish.
For a Bearish scenario, if the Price is making Higher Highs and the MACD Line is making Lower Highs then this is potentially Bearish.
The MACD indicator can also be used to show Hidden Divergence between the Price and the Histogram. In a Bullish scenario, if the Price is making Higher Lows but the Histogram is making Lower Lows then this is potentially Bullish. For a Bearish scenario, if the Price is making Lower Highs but the Histogram is making Higher Highs then this is potentially Bearish.
The MACD can sometimes produce false positive as can be seen here where we have Bullish Divergence with the Price Converging with the MACD Line but no real breakout happened.
Note that the MACD Line and Signal Line will be in line with the current Candle Wick in whatever timeframe you are in.
The MACD indicator is a lagging indicator but it also has the power to be predictive especially with potential upcoming Buy and Sell signals, divergence and when used with other indicators like Volume, the Ichimoku Cloud, Bollinger Bands, MAs or EMAs, RSI, ADX DI to name but a few as these can help complement the MACD signals to help get a much clearer picture as to what is going on and what may happen on your chart in whatever timeframe you are in, because there is a lot of BS, FUD, FOMO and utter crap out there so a little clarity is always helpful ;-)
For me the MACD is a very useful indicator with my trading, so I hope you have found this quick and dirty MACD educational post helpful. Happy trading.
Notes:
MACD Line = 26-Period EMA Value - 12-Period EMA Value = MACD Line Value
Signal Line = 9-Period EMA of the MACD Line. Used with the MACD Line to trigger Buy and Sell Signals
Histogram = Distance between the MACD Line and the Signal Line
0.00 Base Line = Crossover point to the Positive Zone and/or Negative Zone
Positive Zone = a 12-Period EMA is ABOVE a 26-Period EMA on your price chart
Negative Zone = a 12-Period EMA is BELOW a 26-Period EMA on your price chart
EMA = Exponential Moving Average.
UK100A quick look at the FTSE100 Index using the traditional Ichimoku Cloud Settings of 9,26,52,26 and the MACD Indicator.
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the Mid-Point of the Short-Term momentum is downwards at the moment.
The Ichimoku Cloud Base Line (Kijun Sen) is indicating the Mid-Point of the Mid-Term momentum is sideways at the moment but that may possibly change to downwards momentum once a significant low is created for the 26 periods.
The Ichimoku Cloud Lagging Span (Chikou Span) is indicating that momentum at the moment is downwards. Note that the Lagging Span (Chikou Span) is now under the Price from 26 Periods ago.
At the moment the Price is still in the Bullish Zone of the Ichimoku Cloud but is getting close to the Ichimoku Cloud Leading Span A (Senkou Span A) support level. At the moment of typing this, there is very little distance between the Leading Span A (Senkou Span A) and Leading Span B (Senkou Span B) support and resistance levels below the price.
Note that the Leading Span A (Senkou Span A) level is pointing downwards.
Note that the Last 5x Volume Bars have closed above its Volume 20 Period MA in the red.
The Price is still below its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 8x 1hr candles that i have selected.
The Price is still way above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range.
If we look at the Moving Average Convergence Divergence (MACD), we can see that the MACD Line is still under is Signal Line and is indicating momentum is downwards at the moment. Note that the MACD Line as dropped under its 0.0 Base Line into the Negative Zone on this 1hr timeframe and that the Red Histograms are increasing in size. If you are waiting for confirmation to go long, you need the MACD Line to cross back ABOVE the Signal Line creating a Buy Signal for this 1hr timeframe.
Be on the lookout for a break below the Leading Span B (Senkou Span B) level into the Bearish Zone and a successfully re-test of the Leading Span B (Senkou Span B) level as Resistance, after that, full Bearish confirmation on this 1hr timeframe will be when the Leading Span A (Senkou Span A) crosses below the Leading Span B (Senkou Span B) creating a Kumo (Cloud) Twist into a new Bearish Red Cloud.
I hope this is helpful with trading.
VET/USD - Potential Bullish DivergenceWe have a potential Bullish Divergence with the Price on the VET Chart and the MACD Line on the Moving Average Convergence Divergence (MACD) indicator as indicated by the Converging Blue Lines. Note that the MACD RED Histograms have also shrunk in size, confirmation will be if the MACD Line (Blue Line) crosses back above the Signal Line (Orange Line) on this 1 day timeframe.
Note that the Stochastic Indicator (STOCH) is showing that VET has plenty of room to move up before entering the Overbought Zone on this 1 day timeframe. Note that the %K (Blue Line) is still above the %D (Orange Line).
At the moment of typing this, VET is fighting stay above its Least Squares Moving Average (LSMA) on this 1d timeframe. A successful daily candle CLOSE above the LSMA on this 1 day timeframe will be considered a Buy Signal for this indicator.
At the moment VET is back above its Bollinger Bands Lower Band but note that VET is still well below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1 day timeframe. For any recovery to become sustainable longterm, we need the Price to CLOSE above the BB Middle Band Basis with a successful re-test as support on this 1 day timeframe.
VET is also in a Falling Wedge Pattern on this 1 day timeframe. A Falling Wedge Pattern is a potential Reversal Pattern. Note that the APEX of the Falling Wedge Pattern is at $0.026 which is around 22nd March 2022.
At the moment of typing this, VET is back above its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 6x daily candles that i have selected.
Obviously VET is still under the influence of BTC so we have to keep an eye on what BTC is doing as a drop with BTC will drag all alts down with it.
I hope this is helpful with your Trading and Hodl-ing.
