Technical Analysis
- Thread starter Icebucket
- Start date
Icebucket
Active member
So the 50MA and the lower support wedge appears to be holding like predicted yesterday, now lets look at some resistance areas to the up side.
The Fibonacci level 61,8% and 50% are generally strong resistance levels. they are at the 0.02-0.0212 level so there might be that we either stay in that range or retrace and test the lower support wedge again, by then we will be over the daly 21MA around 0.017 - 0.0175 that will add really strong support to the wedge.
Here below is my crystal ball projection, I made this for fun to check out later after RC3 is released, just to see if the force Is strong within me.
Dont take this as something that is definitely happening .. I only think it will
this is just my train of thought
There we got some prior highs that are another layer of resistance to the upside and will likely slow drk down. Find strong support on wedge and the daily 21MA, next it will be rejected by the top of the wedge pattern and find support on the prior highs line before breaking out violently in about 9 days when RC3 is released.
So thats my 2 duffs..
The Fibonacci level 61,8% and 50% are generally strong resistance levels. they are at the 0.02-0.0212 level so there might be that we either stay in that range or retrace and test the lower support wedge again, by then we will be over the daly 21MA around 0.017 - 0.0175 that will add really strong support to the wedge.
Here below is my crystal ball projection, I made this for fun to check out later after RC3 is released, just to see if the force Is strong within me.
Dont take this as something that is definitely happening .. I only think it will
this is just my train of thought
There we got some prior highs that are another layer of resistance to the upside and will likely slow drk down. Find strong support on wedge and the daily 21MA, next it will be rejected by the top of the wedge pattern and find support on the prior highs line before breaking out violently in about 9 days when RC3 is released.
So thats my 2 duffs..
Icebucket
Active member
There is a prior low at 0.015 after that The lowest trendline points to 0.014 and the daily 50MA is around 0.01270. those are the supports to the downside im looking at.
Looking at the RSI I think it is more likely that the trendline will hold If we get a dip down there
Icebucket
Active member
So yeah, the wedge pattern got broken
Time to look at the supports below
We are looking at the Daily timeframe, the general rule is that with bigger timeframes the indicators get stronger. The 61,8% FIB is a really strong resistance level, taken from the beginning of the rally to the ATH
the 50MA is also one of the strongest moving averages. (at least in general markets)
Also you can see that the RSI indicator (shows when market is over sold or overbought) is getting to the lower end of the spectrum. (the extreme is 30)
And we have a trendline that is currently being tested.
Time to look at the supports below
We are looking at the Daily timeframe, the general rule is that with bigger timeframes the indicators get stronger. The 61,8% FIB is a really strong resistance level, taken from the beginning of the rally to the ATH
the 50MA is also one of the strongest moving averages. (at least in general markets)
Also you can see that the RSI indicator (shows when market is over sold or overbought) is getting to the lower end of the spectrum. (the extreme is 30)
And we have a trendline that is currently being tested.
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Icebucket
Active member
This is a daily chart we have here, Currently we are at a few major support areas as we can see
The lowest trendline and 21EMA together are very strong supports, and also we can see on the MACD that the selling pressure has been diminishing gradually since june 10th.
On the next chart we have bollinger bands on there, and you might notice that the gap between the higher and lower bollinger bands are coming very close together, This has not happened since about May 5th. When the bands get so close together they can indicate that a major move is about to happen, like happened after May 5th in a explosion to 0.0227, although Im not expecting such a huge move this time. But still a significant move non the less.
Also the price is on the lower bollinger band and that reinforces the support levels talked about in the first chart.
Everything below 0.017 I consider a bargain, based on what I can see here.
The lowest trendline and 21EMA together are very strong supports, and also we can see on the MACD that the selling pressure has been diminishing gradually since june 10th.
On the next chart we have bollinger bands on there, and you might notice that the gap between the higher and lower bollinger bands are coming very close together, This has not happened since about May 5th. When the bands get so close together they can indicate that a major move is about to happen, like happened after May 5th in a explosion to 0.0227, although Im not expecting such a huge move this time. But still a significant move non the less.
Also the price is on the lower bollinger band and that reinforces the support levels talked about in the first chart.
Everything below 0.017 I consider a bargain, based on what I can see here.
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I find the markets completely baffling. I mean, today we had a dip going down to .0163 and .0161 (momentarily on cryptsy) and I can't imagine why? Don't get me wrong, I don't mind if it goes up and down a bit, but we're 2-1/2 days out from a major implementation and it's "all quiet on the western front" Will this continue after the fork? Are people just afraid the fork will go wrong again? Who knows? LOL. It's so hard to understand what is going on, but maybe that's because I'm so gung-ho on Darkcoin, I just can't see it? LOL It seems illogical because if I had money, I'd be buying up as much as I could right now.
So anyway, I appreciate this thread because even if I can't understand it - or 'feel it', I can at least expand my mind into seeing what might happen (via both the high and low supports you're teaching me about) and not get blindsided, LOL.
So anyway, I appreciate this thread because even if I can't understand it - or 'feel it', I can at least expand my mind into seeing what might happen (via both the high and low supports you're teaching me about) and not get blindsided, LOL.
Propulsion
The buck stops here.
I'll bet you ten dark they'll be a massive amount of volume (direction depending on the outcome) shortly after the implementation of Friday's fork. Until then, it's a waiting game.
derk
Member
Interesting extension of the bullish pennant beginning to form. Sorry but cannot be bothered to screenshot it ; check out the charts yourself.
Shaping up to aim for a breakout in around 2 weeks - this shape began before the announcement of the new RC3 date, of course!
It's funny how these things work.
Shaping up to aim for a breakout in around 2 weeks - this shape began before the announcement of the new RC3 date, of course!
It's funny how these things work.
Icebucket
Active member
Im always looking for good entry points into various markets and one tool I use is the StochRSI
StochRSI is an oscillator that measures the level of RSI relative to its high-low range over a set time period. StochRSI applies the Stochastics formula to RSI values, instead of price values. This makes it an indicator of an indicator.
The levels I look at are the 20 zone for over sold signals and 80 zone for overbought.
On the chart I highlight some of the oversold signals, that have resulted in a minor to significant bull run.
I also like the 4hr 200EMA line that we are handrailing at the moment. That the 200EMA has caught up with the current price after the explosion that happened in MAY. Is a very bullish signal and I generally consider a buy at the 200EMA level coupled with a oversold signal from the StochRSI a good probability trade.
StochRSI is an oscillator that measures the level of RSI relative to its high-low range over a set time period. StochRSI applies the Stochastics formula to RSI values, instead of price values. This makes it an indicator of an indicator.
The levels I look at are the 20 zone for over sold signals and 80 zone for overbought.
On the chart I highlight some of the oversold signals, that have resulted in a minor to significant bull run.
I also like the 4hr 200EMA line that we are handrailing at the moment. That the 200EMA has caught up with the current price after the explosion that happened in MAY. Is a very bullish signal and I generally consider a buy at the 200EMA level coupled with a oversold signal from the StochRSI a good probability trade.
vertoe
Three of Nine
Cool have you seen this one? http://www.dailyblackcoin.com/category/prisius-technical-forecasts/
Any thoughts to the recent movements?
Any thoughts to the recent movements?
