NewThoughtCrypto

NewThoughtCrypto

Macro Perspective: Bitcoin is still in a Wyckoff accumulation/distribution schematic. Medium-Term Bias: The Sideways trend is expected to continue until Bitcoin either makes a Lower Low (LL) or breaks above 74K and flips it to support. This process is projected to unfold by October 24. Because of Bitcoin’s lackluster PA and time factors, I am leaning...

NewThoughtCrypto

Everything I wrote in my previous TV idea still applies. Understanding Bitcoin's reaccumulation schematic, which I believe is currently in play, can provide us with valuable insights and potentially profitable opportunities as it resolves to the upside. However, there are a few factors to consider: 1. Assuming this is reaccumulation, will we see a sweep of the...

NewThoughtCrypto

Background: 1. Since February 2023, Bitcoin has been trading in a range. The range high is 73.8K, and the range low is 59.6 K. 2. In real time, It is difficult to determine whether the schematic in play is a reaccumulation or a distribution schematic. To answer this question conclusively, we must wait for the breakdown below or the breakout above the range. ...

NewThoughtCrypto

Clarification: 1. I am hoping ADA will recover and perform well. However, hope is not a trading strategy; this chart is mega-bearish. 2. The chart is on the weekly TF, but the EMAs are the Daily EMAs. Analysis: 1. ADA lost the upward-sloping trendline on April 2nd. 2. ADA was unable to reclaim the uptrend on April 8th. 3. As a result, ADA dropped to its...

NewThoughtCrypto

Support: • Trendline support: 67K. • 50D EMA, currently at 64.8K. • Orange Gann Angle: 60.6K. Resistance: • 21D EMA, currently at 68.5K. • Yellow Gann Angle: 70K. • 71.8K Horizontal support. Do you think the bear market will begin before the halving? I don’t!

NewThoughtCrypto

The Positives: Bitcoin is moving in a triangle formation, which is a continuation pattern. Bitcoin is also above the 21D. The challenges: 1. Bitcoin is at the triangle's resistance, and the yellow Gann angle also acts as resistance. Possible Outcomes: 1. Bullish breakout. A breach of the 70K level opens the door to price appreciation, possibly as high as...

NewThoughtCrypto

ADA’s outlook is bearish for the following reasons: 1. Double Bottom formation. The first top is on March 4th at 80 cents. The second top on March 14th at 81.17 cents. 2. Cardano also formed a Head and Shoulders pattern between February 17th and April 2nd. 3. ADA is. Below the short EMAs, the 21 and the 50. Should ADA lose the 58-cent support, It could drop as...

NewThoughtCrypto Updated 

Since making an ATH on March 14th, Bitcoin has been in a correction. Following the March 20th bottom, Bitcoin is making HHs and HLs. I have my reservations about the PA. However, the price is what matters. We trade the chart. Not our opinions. On the 4H chart, bitcoin forms an ascending triangle. It tried to break above the 0.786 fib retracement at 71.1K four...

NewThoughtCrypto

Preface: Between July 12th and August 3rd, 2023, XDC made 259% upside. This remarkable growth was achieved in bear market conditions. The fact that XDC achieved such a price increase quickly led me to believe that XDC will outperform most altcoins in the bull market. Alas, XDC did not meet my expectations. XDC Relative to TOTAL 3: A comparison of the TOTAL 3...

NewThoughtCrypto

Preface: On March 5th, 2024, Bitcoin made an ATH and proceeded to flash crash to 59K. Currently, it is not yet clear if the correction is over. There is also the question of Bitcoin’s upside and downside potential. I will describe and explain the most probable scenarios and offer trade setups for each scenario. Bitcoin ATH and consequent correction created a...

NewThoughtCrypto

ETH is above the convergence of two Gann angles. The first angle (in red) is pulled from the bull market high to the bear market low. This angle is resistance. The second angle is from the previous bear market low to the previous bull market high. This angle is support or resistance, depending on whether the price is above or below the angle. A convergence of...

NewThoughtCrypto

This is me having fun. I do not claim to be an authority on Financial Astrology. First issue: Why is the price consolidating at this price range? I pulled a Gann Fan from the previous bear market low (3,156) to the November 2022 low (15,514). The 1/3 Gann angle is precisely at the current level of resistance. This fact has profound implications. Why? Because a...

NewThoughtCrypto

After retracing to the 0.66 retracement, Clore started a new uptrend. Clore formed the “cup” of a Cup and Handle pattern. If Clore retraces or consolidates in a “handle,” it will be an opportunity for a fresh long or to add to a long position. The immediate target of this pattern is 42 cents. However, this relatively small-cap project can do well in the bull...

NewThoughtCrypto

XNA broke out of an inverse head and shoulders on February 19th. It successfully tested the neckline on February 20th. The technical target of this pattern is 0.004673, which is the 0.382 Fibonacci retracement. The 21D EMA is about to cross the 50D EMA. The RSI is elevated but not oversold yet. This coin is ready to go!

NewThoughtCrypto

BNB has broken out from a bullish flag pattern and crossed above the $313 price level, confirming a bullish ChoCh. The measured move of the breakout point indicates a target of $413. Additionally, the 4/1 Gann angle is at the same price level, which adds more confluence to this target. Best wishes!

NewThoughtCrypto Updated 

Kaspa Gann Fan & Fib Wedge Analysis: • Chart Scale: 0.00081. Scaled from high to low. • Fib Wedge: The 1 level acted as resistance three times. • Another interface with 1 level could come as early as today or tomorrow. • The rule of angles gives the downside a higher probability. However, I have my reservations. • The Next Gann angle support is at 0.0875. • The...

NewThoughtCrypto

TLDR: ADA finished its correction. The target for the next impulse is between 1.17 and 1.25 Dollars. Background: Between ADA October 18th and December 12th, 2023, ADA’s price rose 186% to 68 cents. Following this impulsive PA, ADA entered a correction that lasted 42 days with an overall correction of 35%. The proportion between the impulse and the correction...

NewThoughtCrypto

TLDR: I believe that Bitcoin has completed its correction. I am waiting for a retracement to 40.2K – 40.7K. If Bitcoin retraces to my target area and holds it as support, I will long Bitcoin with the initial target of 43.7K, but it could go as high as 59K. Correction: A correction has two aspects: the degree of correction on price and the time the asset...