EbonyFalcon

EbonyFalcon

My overall bias for Solana is bullish.  Currently I only own the underlying asset, but I have been waiting for the right set up to arrive to open a leveraged long position.  The way I am looking at the market right now: Monthly chart:  In the last crypto cycle, Solana reached ATH in Nov 2021 and started to enter the macro bear trend.    The price dropped...

EbonyFalcon

My views on XRP still hasn't change since my last article. The price action has been quite volatile, but if you look at it in the higher time frames such as monthly/weekly/daily, I think XRP is still working to move to the upside.  Daily: 1) The price has found the temporary support at Fib 0.5 level and EMA55.   2) yesterday's daily candle closed above $3.07...

EbonyFalcon

My overall bias for Solana is bullish.    It has been a difficult asset to trade, however, I can still see bullish momentum is building up in higher time frames: Weekly:  1) MACD line (faster line) has finally entered the bull zone since it dropped to $95 on April 25. 2) RSI line (orange one) has entered the bull zone.  3) EMA 5 > EMA21> EMA 55  Daily:  1) EMA...

EbonyFalcon Updated 

Solana chart looks very bullish. The price is currently dropping but I think it is a very healthy correction. Weekly chart: 1) all momentum indicators just entered the bull zone. 2) The chart is forming higher highs. Daily: 1) EMA55 finally crossed EMA200.  The last time they crossed was October 2023 (see red vertical line in the chart) and it was...

EbonyFalcon

Solana has been struggling to break and stay above $170-200 zone this cycle. It has been a very difficult asset to trade, however, I can see more bullish setups than bearish setups in higher timeframe charts. Monthly: 1) July monthly candle closed above Fib 0.618 and formed higher high higher low. 2) RSI and MACD are still in the bull zone. 3) Stochastic are...

EbonyFalcon Updated 

XRP is one of those cryptocurrencies that attract cult-like followers. I am not one of them. Fundamentally I have no idea about the long term potential of XRP. HOWEVER, purely based on technicaly analysis, it looks very bullish to me. Monthly: 1) the price finally broke above the 2018 historical ATH. 2) All momentum indicators in the bull zone. 3)...

EbonyFalcon Updated 

I opened a long position. Ideally it is safe to wait for EMAs to line up for the bull trend (EMA21 > 55> 200) in the Daily chart. However, there are many indications that the price will start to move to the upside and the upside move might be quite aggressive. So I decided to open a long position with a small position size. The reasons for opening a long...

EbonyFalcon

I currently have a small size of long position but I am planning to add more (please see my previous article for my first trade set up), but I am waiting for a certain set up to come up: Daily: 1) all momentum indicators are entering the bull zone, so there is a plenty of room to move to the upside. 2) The candle has crossed and closed above both EMA 21 and 55,...

EbonyFalcon

1) A candle broke out and closed above the descending parallel channel. 2) The price has been consolidating above Fib0.0382 level for weeks. 3) The recent candles are sitting above EMA21. 4) EMA 21 is above EMA55. 5) EMA200 is running horizontally still but it is getting close to cross EMA55. 6) All momentum indicators are in the bull zone and still plenty...

EbonyFalcon

Solana bullish momentum is building up from both technical and fundamental perspectives. Daily chart: 1) A daily candle decisively moved and closed above EMA21 on Sat 28th June. 2) RSI and MACD are still in the bear zone but the lines are crossed and now moving upwards. 3) RSI line is now above 50. When the RSI line moves above 50 and EMA21 closes above...

EbonyFalcon Updated 

My macro bias for USDJPY is bearish.   However, I opened a long position today. Reasons for a long trade: Weekly chart: 1)  Both MACD and RSI are in the bear territory, however, both MACD and RSI lines are starting to cross and move to the upside.    2)  The price has been moving sideways for weeks, however, weekly candle has been forming higher low since late...

EbonyFalcon

My overall bias for Solana is bullish based on its fundamentals.  I am a solana investor so I have been accumulating Sol and staking them.    I think the price will eventually move up but at this stage I don't see anything bullish in the Solana chart. It is certainly not the buy the dip moment because I can see the price can go much lower from here. (and I can be...

EbonyFalcon Updated 

My general bias for Solana is bullish.  However, the current setup is very similar to the setup in Feb-Apr 2022 before Solana started a macro bear trend.  (see blue rectangular box) I am still waiting for a long trade opportunity. I am not looking for a short trade. I just need to sit tight and see how the price is going to unfold in the next few months in...

EbonyFalcon

My bias for Solana is super bullish.  I invest in Solana and I think it is still a good price to buy and hold, but I am planning to trade with leverage.   Currently, Daily EMA200 is dead flat and running across the candles.   MACD moving to the upside but still in bear territory.   There is a bullish momentum building up, however, there is a large sell order...

EbonyFalcon Updated 

I opened a short position yesterday at the price of 147.50.    Currently the price is 146.18.  The price has dropped quite a bit but I think it still has a good short entry opportunity with a reasonable risk reward. Reasons for short trade: The price has reached the major support level around 149 on the 22nd April.   Since then, the price has moved up to the...

EbonyFalcon Updated 

My bias for Solana is very bullish.   But the current price set up is very similar to April 2022 when the price started to have a major downside move.  (See blue vertical line in the chart) Similarities between April 2022 and today's chart set up in the daily chart: 1) The price moved from the peak (Historical all time high) to trough in the descending parallel...

EbonyFalcon

Solana is starting to look like building bullish momentum.    Bullish signs: Daily: The price broke out of a prolonged descending parallel channel, retested the top trendline of the channel and started to move up. The price broke and closed above EMA21 (first hurdle of many!) and has been above it for several days.  The price is above the major support zone...

EbonyFalcon

Bitcoin price is starting to look interesting for a long trade opportunity.    Currently Bitcoin is in the range bound between 75,000 approx and 89,500 aprox (blue rectangular box in the chart).   EMA 200 is horizontally running through in the middle of the range and EMA 21, 55 and 200 are starting to get bunched up together.  I really like this set up because...