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CMT technical analysis

October 3, 2019 Published by

CMT seen from the temporality of 1W we can see how the structure of candles has formed a descending wedge where the price has been contracting within the figure through a slow sale as the price has approached the support of the zone of demand located at 0.00000180, the trend count is correct and the current consolidation of small candles with little volume in the support gives us signal of a possible bullish movement that seeks to break the diagonal resistance of the figure, if so, the price should go in search of the supply zone located within the price range of 0.00000519 – 0.00000589, which would be our first profit zone, our second target is located at 0.00000848.

CMT seen from the temporality of 1D we can observe more closely the current movement of candles, we see how the current structure of candles has formed a double floor, reversal signal trend, the price goes in search of the neck line located at 0.00000244, if we don’t get the break yet, the price could go back briefly to form an HL that confirms us that the next movement will make the break of the neck line and then, look for the bullish break of the major figure, within the RSI indicator we can see how the force of the movement is increasing, has managed to break a resistance signaled inside the indicator by a red diagonal.

In conclusion, CMT has reached very low levels of price, the slow sale that has been made within the descending wedge gives us a strong signal of an upcoming trend change, the support where it has consolidated for 4 candles in 1W is a key level of demand, this supported by the lower figure in 1D and the RSI indicator increases the odds of a possible bullish break, we must wait for the price to break and confirm the support of the neck line located at 0.00000244, the diagonal resistance break should be our best long entry position, however, I recommend to be very attentive to the action of the price in 1D to avoid possible invalidations during the movement.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

XZC technical analysis

September 30, 2019 Published by

XZC seen from the temporality of 1W we can see how the candle structure has formed a long descending wedge indicated in the chart above by the dark blue diagonals, we see how the price found support in the area of weekly demand located at 0.0004946 where the sail formed a hammer followed by a doji as a reversal signal, the last two sails have responded well to the signal, with the current sail struggling to close above the key level located at 0.0006102 indicated in the graph by the horizontal black color, if the candle manages to close above that level, it is very possible that we have a continuation of the current bullish momentum towards our first target which is the area of supply located at 0.0007786, we could even reach the second target located within the price range of 0.0008526 – 0.0009557, indicated on the chart by a light blue rectangle, if the price fails to close above the resistance of the key level, the odds of a correction move towards the weekly demand zone are very high.

XZC seen from the temporality of 1D we can observe more closely how the price is trying to get the level located at 0.0006102, the bullish candlestick series has held up very well after getting the break of the small pennant marked on the green triangle chart, the RSI indicator shows bullish divergence since the weekly candlestick found support, which supported the current move, However, it is still too early to clearly determine what will be the next price movement, in 1D the price has to close above the horizontal and give us a confirmation test to continue bullish, otherwise, the price could fall in search of the weekly demand zone.

In conclusion, the price at 1W, for now, continues to show us a very favorable price action to continue in search of higher profits, however, we can not be confident, we have to confirm the closing above 0.0006102 and confirmation, the bid zone is also an important level to take into account since the price could find much resistance at that point and go back; therefore, I recommend to follow very closely the price action at 1D and always use stop loss in all our operations to avoid losing capital by invalidations in the movement.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

Come on Bitcoin Go Down!

September 29, 2019 Published by

I know that title seems a bit backwards, but there are lower price supports I’d love to buy some more at.

Oversold and Overstretched

After the recent dump, which had an intraday low of 7,712 (on coinbase) price has rumbled around the past couple days and is now pushing lower.

Many people are looking for it to hit 7,500 and have buy orders in at that price. It very well could get there today or tomorrow, but if it does then price will be extremely stretched from the 10 period moving average.

If you look at the chart you can see the blue line for the 10 period moving average. See how far price is pulled away from it. The past two day bounce, as modest as it was began to let it catch up but with price moving down today things are getting extremely stretched again.

I would love a quick spike toward 7,500 as buying when things are overstretched is never a bad thing. Doesn’t mean price will bounce but I’d rather buy after intense selling as opposed to buying right before.

LAMB technical analysis

September 27, 2019 Published by

LAMB seen from the temporality of 1W we can observe as the price could form a structure of continuation bullish, the best figure represents a descending wedge in which we see as the price has formed minimums each time closer, signal of a close change of tendency, we must be attentive to the support located in the 0.00001111 indicated in the graph by a horizontal green where the price should arrive and find demand that can drive the price up, the current weekly candle is bearish, it is still early to know how it will end at closing, however, the price has not yet touched support, so we should wait for the price to drop a little more.

LAMB seen from the 1D temporality we can observe more closely the current movement of candles within the descending wedge, once reached the support, the price could follow a trajectory as I have drawn in the chart above, our profit target is located within the price range of 0.00002044 – 0.00002134, indicated in the graph by the two horizontal red color, reached that point the price could fall quickly or form an HL above the point EQ and look for the break up, otherwise the price would seek again the support with probabilities of breaking down.

In conclusion, LAMB has had a slow decline in the price within the major figure since mid-July and we are close to a reversal movement, so we should be aware of the reaction of the price in 1D as we approach the support at 0.00001111 to look for the best trading position, the price should not close below the diagonal support of the major figure, if this happens the price should fall much more, but if you get a rebound forming an HL, the chances of reaching our goal will be high, I recommend following the action of the price of this currency very closely and always trade with stop loss, the percentages of loss and gain are high, so the risk is much greater.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

ELF technical analysis

September 26, 2019 Published by

ELF seen from the temporality of 1D we can see how the price during its fall has formed a long falling wedge in which the price has currently escaped from it silently with little volume, in the breaking of resistance we see a series of low volume bear candles during a side trend, the current candle is creating a bullish candle, which should be a very good signal of a close bullish movement with more volume, the weekly candle is still young, so we could not yet confirm the future direction of the price.

ELF seen from the temporality of 1D we can observe more closely the current movement of candles, the current candle is creating a bullish candle above the resistance of the accumulation range after forming a twezeer bottom with the previous candle, to close in this way, it is very possible that the price will continue bullish towards our first target located within the price range of 0.00001224 – 0.00001339, our second target is located within the price range of 0.00001605 – 0.00001954, and the third target is located within the price range of 0.00002399 – 0.00002733.

In conclusion, ELF is showing buying signal by closing above the consolidation resistance, also the RSI indicator shows bullish divergence, if it manages to close above as it is doing now, the chances of seeing a much bigger bullish movement are very high, the profit targets I mentioned earlier are indicated in the 1D chart, I recommend to be very attentive to today’s closing and the price action in 4H, always use stop loss in your trades.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

Steem Price Analysis as Requested

September 26, 2019 Published by

Been a long time since I did an analysis of the steem price chart. However, a loyal reader and fellow steemian @chrisrice put in a request and I am happy to oblige.

The More Things Change The More They Stay the Same

If you look at the top of the post you will see a zoomed out view of the daily price chart for steem. The good news is the price action and levels are rather obvious even to the naked eye once the support/resistance lines are laid out as in that chart.

So here’s the thing. We can see long-term price levels when looking at that chart. We can see how they have come into play and to be honest how all of them have been reached with the exception of the level roughly around 10 cents.

At this point, can we expect price to make a full round trip? As in go all the way back to the low it start its prior upward journey from?

Looking at this price action is sort of feels like a self-fulling prophecy.

I say this even with all the good thing going on with steem right now. I think there are some many projects and initiatives (steemleo, splinterlands, etc.) that are pro steem value. However, it takes time for these things to have an impact on the actual demand for and price of steem.

Crypto Market is Weak

The entire crypto market is weak right now to boot. Steem is at 12 cents while a write this. 10 cents is just a mere move away.

Daily chart zoomed in makes it more clear

I’m fine with it hitting ten cents. My worry is that won’t be the bottom. That support area goes into the 9 cent area, but if we go sub 9 cents then the only downside target left is the all time low around 5-6 cents.

So basically I’m rooting for us to test 10 cents and create a bottom there, again.

Then we can focus on upside targets – which would start with this 16 cent area that is now our last little consolidation area before trying to make a run at 20 cents.

Interesting times in steem price action for sure!

ZRX technical analysis

September 26, 2019 Published by

ZRX seen from the 1W temporary we can see how the price is showing a big bullish push after the slow decline that was pronounced towards the support located at 0.00001473 which is marked on the graph by the black horizontal, the closing of the previous candle has been a powerful bullish candle, while the development of the current candle remains bullish, despite the sharp fall in the price of BTC, this is a good signal for this currency, should meet without problems our objective located within the price range of 0.00003857 – 0.00004275 which I have indicated on the chart above by a light blue rectangle.

ZRX seen from the temporality of 1D we can observe more closely the current structure of candles, has been impressive vertical rise that has given the price in previous days, currently could be forming an upward pattern known as flag, which according to the theory should conclude with a continuation bullish, in the graph I have indicated by means of a triangle red color the possible figure that should form, we still cannot determine it because we need that the price form us an HL to locate the exact support of the figure, inside the triangle I have drawn the possible trajectory that could follow the price during the development of the figure with minima every time higher we would have a continuation in direction to the rise.

In conclusion, ZRX “exploded” 1 week ago and I haven’t been able to locate it in time between the sea of opportunities in the markets, however, the area of supply has not yet been tested so it still has a good percentage of profits ahead, its current movement is quite good despite the blow that has given the BTC movement, we could anticipate that its movement will not be affected over the next few days, still recommend to be very attentive to the action of the price in 1D to avoid possible invalidations.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

After the Drop Bitcoin Trading as Expected!

September 25, 2019 Published by

Midday Tuesday Bitcoin sold off hard crashing through the 9,400 support and getting as low as 8k and even lower depending on the exchange you use.

After that spike sell off, which was playing out while I was on air doing the scaredy cat investor show on MSPWaves, I said that the sideways action that began to occur on the hourly chart would likely continue for several hours as the 10 period average played catch up.

Now that price hit that average will we leg down?

Looking at the hourly chart in this post. Price has hit its head on the 10 period as it has come down with price consolidating and the action looks like there is still pressure on the sell side. 8,500 seems to be the level that price opened and closed on several hourly candles so it will be interesting to see if price holds that or even tries to push through the moving average to the upside.

What I’m looking for though is another leg down. I have buy orders in down at 7,650 and I already bought a little just below 8,500.

I’m actually rooting for another leg down because I’d love to buy lower.

EOS v1.8 has been Launched

September 24, 2019 (updated September 24, 2019) Published by
[Source](https://www.google.com/url?sa=i&source=images&cd=&ved=2ahUKEwiRr960y-jkAhVZ5eAKHYVGDYEQjRx6BAgBEAQ&url=https%3A%2F%2Fwww.eosgo.io%2Fnews%2Fless-than-5-hours-to-eos-v1-8&psig=AOvVaw1_nVEpjtwEcCUbdnvBG_Ly&ust=1569384610514255)

We have all been waiting for this moment and here it comes eos v1.8. But there has been another moment that we have also been waiting for thus the Voice platform. It was annouced that when they launch the eos v1.8 that will be the time voice.com will be launched and I have been waiting patiently to hear a good news that the voice platform has been launched. But I still havent heard any news on that. But I hope the Voice platform is on it way coming and it will be up in no time probably before the week ends we will know what is going on with Voice. Now that the v1.8 of Eos has been launched are we supposed to expect some rise in the crypto or anything concerning eos? This is a question to the eos champs. I want to know the next step for eos so that If I will advice someone to invest in it I will know how to go about it. Steem on the other had is doing well in the promotion of steem because I have seen more tweet about steem on twitter and I am very happy to say that steem will get back to it normal price and even move up high that it was in 2018. We should all hope for better for steem. The Number 1 decentralized community. Much Love for Steemit.com..

Ripple (XRP) Price is a Fun Roller Coaster Ride!

September 23, 2019 Published by

Last week the price of ripple decided to wake up and take everyone for a little ride. After doing so it topped out quickly at a prior resistance and now has pulled back to flirt with prior support levels after falling through them briefly.

Is Ripple Worth Buying?

Mind you this is strictly a technical analysis view, whether you believe in the usefulness of ripple is a complete different topic.

Looking at the chart and recent price action this is what I see….

Spike in Volume With a Blow Off

If you look at the volume bars at the bottom of the chart you will see there was an uptick for the two or three days that price spiked higher. And spike is what it did topping out just shy of that 33 cent resistance level before pulling back.

Good news/Bad news of Pullback

So the good news is price pulled back on decreasing volume which is always a welcomed sign. The bad news is price pushed below the support area of 28 cents or so.

Where we stand now…

After a few down days we are seeing a green reversal candle and price is fighting with that 28 cent support area. It would be best if price closed above 28 cents, which would also create a bullish u-turn pattern for the price of ripple.

Bullish u-turn patterns are something I cover in these cryptocurrency trading videos.

If I were to get long, which I’m not saying I am…then the low of today’s candle is my stop loss. Upside target is that 33 cents to start with.

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