NewThoughtCrypto

NewThoughtCrypto

Kaspa's price has been consolidating between 10 and 12 cents for the past 29 days. This period of low volatility has created a congestion zone that is expected to provide strong support for Kaspa's price. Additionally, the low volatility period has caused a squeeze that will likely drive prices to surge upwards. While BB width and squeeze are not reliable...

NewThoughtCrypto

ATOR was launched in April 2023. Since then, it has appreciated significantly, from an initial price of 0.006 to a high of 2.278 after 212 days (an increase of 3837%). However, ATOR has been in a correction since November 16th and has pulled back by almost 80% from its high. While there are indications that the correction may be over, nothing is certain yet. If...

NewThoughtCrypto

From October 20th to December 14th, TAO increased by more than 700%. In the past 19 days, TAO has been in a correction. Until today, TAO pulled back a bit more than 42%. I am looking for a relationship between the time in the uptrend and the downtrend. Currently, we have 56:19. Meaning one day of correction for three days of appreciation (3:1). Is it enough? I...

NewThoughtCrypto

Preface: At the moment, bitcoin’s market structure does not confirm a downtrend or a correction. Regardless, a correction will come; they always do. Correction Depth: In 2023, we had three corrections. These corrections ranged from 20% to 23%. I don’t see a reason why this correction should be deeper. On the contrary, with the Bitcoin halving approaching and...

NewThoughtCrypto

TLDR: My 2024 targets from low to high are: 1. 1.92 USDT, the 0.618 Fib retracement. 2. 2.36 USDT, the 0.786 Fib retracement. 3. 2.57 USDT, 400% from the recent HL on the weekly TF. 4. 2.92 USDT, the 2/1 Gann angle (considering price and time). Background (Weekly TF): Matic was in a downtrend from December 2021 until June 2022. MATIC lost 89.54% of its USDT...

NewThoughtCrypto

I believe BNB has been in a Wyckoff Accumulation phase since May 2022. A breakout from the accumulation range-high could initiate a bull phase. My 2024 target is its former ATH at around 700 USDT, but the 1:1 fib extension at 858 USDT is also reasonable (Note: I use the regular scale, not a log chart). Accumulation Phase A: SC: In June 2022, BNB reached its...

NewThoughtCrypto

I am trying to evaluate Bitcoin’s price trajectory. To do that, I pulled two Gann angles with 1/1 axis being a trendline connecting the low to the high. The First Gann fan aligns the 1/1 with a trendline connecting the Corona low with the ATH (in green). The second Gann fan aligns the 1/1 with a trendline connecting this cycle’s low with the current cycle's high....

NewThoughtCrypto

Once Bitcoin’s price exceeded 33K, it entered the January 2022 re-distribution range. This range is between 33K and 48K. Once Bitcoin enters the range-low, it will reach the range-high. The question is, will it make it there directly, or are we in for a correction? The probabilities are balanced. However, since it’s the question every Bitcoin trader ponders, I...

NewThoughtCrypto

DYDX has been in Accumulation since May 2022. The accumulation range-low is 1$, and the accumulation range-high is 2.88$ On November 6th, DYDX moved above the Accumulation range in a Sign of Strength. The price range and increased volume confirm this is genuinely a SoS. Now, DYDX is a retesting the range high as support in what is called, in Wyckoff terminology,...

NewThoughtCrypto

From November 15th to December 2nd, TARA formed a bull pennant. However, TARA did not break out of the pennant; instead, it formed a congestion zone. Every daily candle from November 22nd until today closed inside the body of the daily candle of November 22nd. The price range of this congestion zone is between 0.0151 to 0.019. A Congestion zone, especially if it...

NewThoughtCrypto

On November 25th, Nexa made an ATH at 0.00002. Following its ATH, Nexa began a correction to the 0.5 Fib at 0.0000177. For the last eight days, this level has been holding solid. Nexa is Consolidating between the 0.5 and the 0.382 Fib levels. A daily close above the 0.382 Fib will likely reignite the bullish momentum. The 21D EMA is resistance, and I would wait...

NewThoughtCrypto

Historically, the correlation coefficient between ETH and Bitcoin is almost perfect. Admittedly, the correlation between the two assets was weakened between September 11th – October 8th. Regardless, the correlation between the two is back (current value 0.88). Furthermore, ETH’s current PA mimics BTC’s PA between October 23rd and November 8th. ETH is now...

NewThoughtCrypto

I am uploading early to give you time to consider and prepare. KAS fulfilled Miller’s (2020) three M.S Principles of a bullish to bearish reversal: 1. The market fails to create a higher high. 2. Price makes a LL (price breaks the X line) 3. Price makes another LH in which B > E. Final confirmation is only if KAS makes another LL. I consider this a healthy...

NewThoughtCrypto

Floki looks good for continuation. Risk level: high risk. Reason: R: R: to first TP is 1:2 Trade Idea: Entry: 3233 SL: 2888 Target: 5379 TP: 3981, 5379 R: R: 1:6

NewThoughtCrypto Updated 

QNT was in a downtrend for more than seven months. The downtrend pattern is a Falling Wedge, which is a bullish reversal Pattern. Quant broke above the Wedge on October 24th. Today QNT completed a retest of the Wedge’s resistance line. Additional Confluence: 1. Horizontal Support at 96.7 USDT. 2. 50D EMA at 96.7 USDT. 3. Bullish EMA cross (20 above the 50). ...

NewThoughtCrypto Updated 

Bitcoin is forming a Cup and Handle pattern on the daily chart. If this pattern is successful, we are looking at a 10% price increase from the current price (34.8). The neckline is at 36K which is the immediate resistance. A move above the diagonal trendline resistance will add more confluence to this idea. After hitting this level, I expect a healthy correction....

NewThoughtCrypto Updated 

Kaspa formed an Inverse Head and Shoulders. Today (Nov. 4th) it broke above the neckline to form a new ATH. The immediate target is 6.6 cents. However, we are at price discovery and the potential is much higher. My advice: Don’t buy the breakout; buy the retest. Trade idea: Entry: 0.053 (neckline) SL: 0.049 (Right shoulder and local support). Target: 0.066 R:...

NewThoughtCrypto Updated 

Background: Since May 2022, Link is in an accumulation range. The range low is at 5.44. The range high is at 9.44. I consider the deviation below the range low in July as a Wyckoff Spring event. IMO, Link’s breakout is dependent on Bitcoin’s PA. Meaning, that If Bitcoin fails to break above 31.85K, Link will fail too. Price Pattern: It looks as if Link is...