PHundal

PHundal

Stablecoin fundamentals could help shine a light on what's next for #bitcoin. Periods, where USDT market-cap growth falls to zero on my index, have consistently been turning points for Bitcoin, typically leading to rallies higher. In my opinion, we are at a point similar to Feb 2024. 👉If liquidity starts to grow in stablecoins, we could see the next leg higher start.

PHundal

Since my last update, Bitcoin has successfully defended the range lows, and importantly reclaimed the mid-range where we currently trade just under $70,000 at the time of writing. From here we would want to see if the bulls are still in control - below is my take on where we could venture next. Bullish Scenario Prices hold and push for the range high’s. We...

PHundal

Techically speaking, BONK is one of the most bullish charts I am looking at, again just my persepctive. We are close to all time highs, and memecoins continue to be leading the market when Bitcoin recovers. We’ve see PEPE be a big winner this week as well. Below are some thoughts on BONK using Fibonacci analysis. Bullish scenario BONK needs to get above...

PHundal

Ondo - ONDO Sitting in the real world tokensiations of assets category, ONDO is technically already above this key 0.618 ‘golden-ratio’ area. Below are my bullish and bearish thesis from here. Bullish scenario Prices continue to consolidate, accumulate, and move higher to the previous high, the 1.272 ratio and 1.618 ratio from here. Bearish scenario ...

PHundal

Crypto markets have so far shown resilience after what has been an eventful week to-date. On the 1st of May we witnessed Bitcoin trade below both the March and April lows, where we then saw four consecutive days of buying resulting in a 14% rally back to $64,500 USD. 👉The next few days will be key in understanding if the bulls will continue to show up, we...

PHundal

Good structural areas pre-market open for a potential bounce. Funding rates have been normalised for some time now and the halving is less than 30 days away. Invalidation = a new lower low below the current range lows.

PHundal

TOTAL3, an indicator of altcoin market capitalisation excluding Bitcoin and Ethereum, has made a significant move🔔. We've breached and closed above on a weekly timeframe some serious key levels. And are above the Bear Market high. By surpassing and maintaining above the bear market high on a weekly timeframe. While this doesn't mean we won't see a pullback...

PHundal

After the recent sweep of BTC highs last week, it's only natural for the market to go lower to find a liquidity level where buyers step in. In this chart the key lows are tagged in blue. Time will tell which level will generate some kind of buyer conviction. If neither hold, we do have the previous weekly high breaker block in grey. This is our higher time frame...

PHundal

As we stand just 120 days away from the upcoming Bitcoin (BTC) halving event, the cryptocurrency community is witnessing a significant and meaningful run-up in anticipation. This halving, is a pivotal moment in the Bitcoin network's history, as it reduces the block reward by half. A deflationary event. The previous halvings in 2012 and 2016 were catalysts for...

PHundal

Marked out is the next key level order block for the BTC evaluation of Solana. Would be cautious to see what happens to price when we reach this key level. In bull market conditions, we would expect a higher high above this level, which could then see further continuation before a retracement.

PHundal

We've just taken out a key 4H price level on a Friday. Interesting to see if the New York trading session will keep their foot on the gas and drive bids higher towards a key Weekly level higher. Two potential roadmaps for SOL - both are Bull Bias. And loss of key structures would cause me to consider further downside and what that would look like. Personally...

PHundal

Head and shoulders formation on the 15min AUD/USD pair. This couples nicely with the weekly bearish confluence and heading into the New York session. Invalidation is above the left shoulder of the pattern. Trade safe! But classic pattern entry here.

PHundal

Lower low here and then a following lower high, offers up great R. Higher time frame failure to go higher as well. Could be a bit too early to be shorting. But seems like a good opportunity especially with DXY looking heavy.

PHundal Updated 

The DXY is currently sitting in a key daily order block zone, and starting to show some interesting signs. While we still dont' have confirmation of a reversal, we are starting to put in some lower lows - what will be interesting is if we can break down and take out the last pivot low that put in the pivot high. ~ 102.77 A market structure break here to the...

PHundal

After a break of the current range that formed. We've now had a deviation higher, which has fallen back into the previous range. From here targets are the mid range of the channel AND the other side of the channel - which is the previous 12H low. Invalidation is a break higher. Current setup has two successive market structure breaks lower, and a lower high.

PHundal

Stop loss just above, aiming for the lows below. Willing to take some profit price hits around halfway, just incise the market wants to turn on the US open.

PHundal

Swing to the lows from here. Stop loss just above highs.

PHundal

Really interested to see where this weekly close winds up. Also we've got US CPI as a news catalyst mid week. Keep your eyes glued this week!