relievedHawk1

relievedHawk1

Very quick update on SOL: as I said in my last post, I believe Bitcoin is looking rather bearish atm, so I expect SOL to follow and break down below recent support as well. At first I was quite certain that SOL was doing a falling wedge which would've resulted in a reversal to the upside, but given the outlook for Bitcoin + the fact that the falling wedge is not...

relievedHawk1 Updated 

Quick update on BTC price action: I spotted similarities between the pa since the $25k crash, and the pa of late 2021 when BTC fell off from ath. After the crash, the selling pressure was temporarily exhausted, and the price action started to form a falling wedge, followed by an upward breakout, which ended up failing and broke down again. Now, let's not forget...

relievedHawk1

I thought I'd quickly warn people about the actual aspect of the current TA since I'm seeing so many people calling a bottom. By the way, that dark blue in those text bubbles looks awful, sorry about that! lol. Anyway, what we have right here is not a double, triple, quadruple or in fact any kind of bottom you might imagine; actually I, just my opinion, think that...

relievedHawk1

As Bitcoin has been trading sideways for the past 2 months, I have seen many people compare the recent PA to what Btc did in July. In other words, those people are claiming that Bitcoin is undergoing accumulation before rallying up to Ath. The July PA was indeed a nice Wyckoff accumulation schematic, however the recent price action is of a different nature. This...

relievedHawk1

A quick update on Luna, the price action is currently in a 5-wave impulse, currently starting wave 4 with a short retracement. The general rule is that wave 3 must not be the shortest upward wave for the pattern to execute correctly, so expect the final wave 5 to be a shorter one. Using fib extension on the 1st & 2nd wave, it's safe to say that wave 5 should end...

relievedHawk1 Updated 

(Reupload for better visibility) I recently made a post suggesting that BTC has been accumulating since our low at $33k, but now more signs are actually pointing towards distribution. I believe it is possible that BTC is distributing even though we are in the middle of a broader downtrend. TLDR: chart is self-explanatory, + Scenario 1 is more likely given recent...

relievedHawk1 Updated 

There are quite some Luna maximalists in here, chanting "Such fundamentals, very moon!" since the start of the run up, but unfortunately no asset escapes the laws of the market. Citing an iconic Japanese trader: "people trade according to market sentiment rather than fundamentals". In our case, this means that if bitcoin breaks down and panic starts, people will...

relievedHawk1 Updated 

I recently made a post suggesting that BTC has been accumulating since our low at $33k, but now more signs are actually pointing towards distribution. I believe it is possible that BTC is distributing even though we are in the middle of a broader downtrend. TLDR: chart is self-explanatory, + Scenario 1 is more likely given recent price action. Why...

relievedHawk1

In this post, a quick look at the SANDBTC pair, price action seems to show little to no effort to try and get past the Tenkan sen. In the past days it's found temporary support (dark blue line) while making lower highs, in a descending triangle fashion although I won't consider it as such because I prefer starting to count the lower highs within the triangle ...

relievedHawk1 Updated 

ATOMUSD 1D tf, previous big red daily candle closed in a "bearish engulfing" fashion, as the price action failed to break through the twist, with a red Kumo cloud ahead: bearish outlook. Price action could "creep" below the cloud as it falls down to previous fib support around $26, it's not a matter of "if" but rather "when". ATOMBTC price action is also trying to...

relievedHawk1 Updated 

With the recent powerful leg-up, btc managed to exit above the Kumo cloud on the 1D time frame. However, there are a few things to note: The cloud is red, meaning it is a resistance cloud thus less likely to act as support. Although the price passed through the SSB effortlessly, the SSB still acts as resistance unless the price action consolidates around it and...

relievedHawk1 Updated 

I am trying to apply the Wyckoff accumulation schematic to the BTC price action. I believe we could be accumulating as the phase A of the suggested schematic would correspond to the phase E of distribution of the last ATH cycle (from 30k to 69k). However, being in phase B currently, if the current PA is indeed doing Wyckoff accumulation then it needs to print an...

relievedHawk1

Here's a quick suggestion of Wyckoff distribution schematic applied to Luna. We have recently left the range we'd been trading in this month in a strong upthrust, but while some people are shouting "hey look we've just broken the descending trend line so we're mooning!", on my side I don't think this means anything really. Rather, I'm seeing the current rally as a...

relievedHawk1

Just making this quick post to suggest a short fib retracement-based explanation of why we're not conquering 45k-50k next, even if we consolidate at current prices for a little while. On the chart you can see 2 fib retracements: the one of the most recent run up from $33k to $45k, and the bigger one (which values are outside the frame) from $30k in July to $69k...

relievedHawk1

LUNAUSDT, 30m. Ascending broadening wedge spotted on higher than average volume, could hint at bearish trend continuation soon. Indicator used: Average volume at time (avat)

relievedHawk1 Updated 

Today's pa looks pretty much like a bearish pennant to me, with the sharp drop of Thursday/Friday acting as the pole. Downtrend continuation is fairly possible given the current sentiment throughout financial markets. If breakdown there is, we're looking at Monday 12 AM at the latest with that pattern, that time corresponding to the opening of stock futures so...

relievedHawk1 Updated 

07.02, 6PM UTC --- A very quick post on Curve DAO token price action, which seems to be forming a nice rising wedge that could possibly be near completion, meaning the price could fall off soon. This is a fast analysis (thus possibly wrong) simply meant as a warning for people who have just opened long positions on Curve, or bought the dip. Along with the wedge we...

relievedHawk1

Feb 5th '22, 12AM UTC --- good evening, here's a quick analysis of the BTC price action showing that it is not ready to reach 40k just yet , but might soon. Here I use the Phoenix Ascending, the Stochastic RSI and the regular RSI. General market outlook - Over the past week BTC has been correcting to the upside along with stocks. Now that this slow upward trend...