Uncategorized

September 8, 2023

It’s Looking Quite Dumpy Out There

Without going into too much detail, let’s look at how some of the crypto charts look as we transition into the weekend. 

Bitcoin

BTCUSD Daily Chart – Click to enlarge.

$BTC‘s daily chart looks pretty dumpy – it looks poised for another breakdown. And if you remember looking at last Friday’s Technically Speaking, the next major support level for Bitcoin is on the weekly Ichimoku chart at $20,781. 

Polygon

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Technically Speaking – March 6, 2024

March 6, 2024

MATICUSD Daily Chart – Click to enlarge.

The lowest daily close for $MATIC in 14 months is in the cards – it looks dumpy. 

Cardano

ADAUSD Daily Chart – Click to enlarge.

A king amongst dumpy-looking charts is $ADA‘s. Oof is all I gotta say. It’s looking pretty close to hitting new 2023 lows and new 2-year lows. Dumptastically dumpy. 

Litecoin

LTCUSD Daily Chart – Click to enlarge.

Nothing light about the dump $LTC may make here.

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March 6, 2024

One Way To Use Stocktwits’ Social Data Tools

Have you ever heard the phrase ‘volume precedes price’? It’s an old-school technical analysis 101 maxim. For example, if an instrument is in a downtrend but then you start to see volume tick up, the theory is that price will follow the volume. 🧑‍🎓

It’s what technical analysts call a leading indicator—a heads-up or a warning that the probability of change is high and that it might happen soon. Analysts and traders might apply that principle (volume precedes price) to the Stocktwits Social Data. 

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February 28, 2024

Technically Speaking – February 28, 2024

Let’s be honest here, Coinbase’s problems are not the reason prices tanked after the rally, but it was a catalyst. From a technical analysis perspective, a small sneeze would cause some retracement. 🤧

The chart above is a Point & Figure chart. You don’t need to know anything about it except for that hugenormous column of green X’s.

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May 29, 2023

FX RRG – Week 22

Stocktwits Forex RRG

Relative Rotation Graphs (RRG) help us visualize how a currency or sector performs compared to a benchmark – in this case, the U.S. Dollar Index (DXY). Think of the four colored sectors as stages in a race:

Leading Quadrant (green) – You’re a champ! 🏆 You’re ahead of everyone else, and the crowd is cheering. But watch out; you might be overdoing it.
Weakening Quadrant (yellow) – You’re slowing down 😓 and losing your lead. Maybe you’re a bit demoralized because your biggest fan didn’t show up. You’re now in the middle of the pack.
Lagging Quadrant (red) – Disaster strikes! 😱 You’re injured, exhausted, or just made a big mistake. You’re now in last place, and it’s a sad scene.
Improving Quadrant (blue) – Time for a comeback! 💪 Your motivation returns, the music swells, and you’re picking up speed. You’re back in the middle, catching up with the leaders.

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