¡Only the begining, stay alert!Hello trader comunity! We are seeing that the markets want to change their trend. More especifically the people thats is behind the computers wants to make gtains after two trimesters in loss. In the other hand, the DXY is fatally crushing after reach the level of 114 and we are seeing lower highs as the index cling to supports. The pair USDJPY after reach the level of 152 gets a reaction from the bears of the pair and then found support in the level of 147 (ema 21). Next week we have de interest rate decision of the Bank of Japan, event that could bring volatily to the pair. But what we must see is how the DXY start the week, anf if it continuos dropping behind 112 ( acting as resistance), we expect a recover from the US500, pairs against the dolar, and the crypto market. This is not a financial advice, good trades and profits!
Analisis
The StrongestI don't know if any cryptocurrency has such a strong and well-built foundation as ETH. I would say that ETH is the king of crypto, in terms of utility and technological trends in its industry. If a crisis on crypto, like the one in 2000-2002 on Internet companies, came now, ETH would be one of the few to survive.
If I approached investing only on a very long-term basis (5+ years), I would start 'hoarded' ETH and accumulated with each drop.
And here my technical analysis is not much different from that on BTC. If ETH breaks through the cloud on D1 - closing the candle below 1363 - then there will be a continuation of declines with a target at 800 and then around 400.
Keeping the price above the D1 cloud, or back above it (in case of a fake breakout downwards), is a buy signal for me. Target 2230 - strong resistance in the form of KIJUN W1; then I secure positions at BE.
If the price at the end of the year is in the around 2600, then I will start to consider that there is a new bull market.
Trading approach aside; I am starting to accumulate ETH long-term. I will buy the most with a breakout of the bottom and a price of 800-400 or confirmation of the upside, i.e. a breakout of the KIJUN D1 on the upside.
I'm gonna give u hope that u needSo i guess the stock will make the last move in down trend that is bad news, but the good is that we can see correction that will let u to exit the stock and say it BYE
The great unknown. When is the next bull market?The crypto market has never experienced a rapid rise in interest rates, stagflation or recession. It can be said that crypto is even the child of low interest rates and strong economic growth.
The current situation could be a test for the entire market; who will stay afloat and who will drown; whether BTC counts as a commodity, an asset, a currency, or something entirely new.
In March 2021 I told all my friends who invest in cryptocurrencies, that BTC would soon fall around the $34,000.
At that time, I used three information to determine the peak and the minimum range of the correction.
The N-waves since March 2020 determined the ranges. The highest point was around $90000, and the most likely point was around $60000.
The $60000 was most likely due to Elon Musk's 'pumping' of the price and other similar news related to the acceptance of BTC payments. This caused the price to rise strongly and move away from the ichimoku lines, which normally hold close to the price. This helped me conclude that the price is unnaturally high and a correction is coming soon.
The movement of the price away from the line, helped me establish a correction target, where the first one was the kijun line on the MN1 interval, at a price of $31,000.
LONG STORY; SHORT STORY
The price rebounded from 28000, breaking out a new ATH, thus creating a false break. Then, over time, BTC reverted back to bearish sentiment as it fell from $69000 to 53000.
Currently, the price is at the N-wave range of the downtrend and the 2017 peak. The ichimoku lines on W1/MN1/Q1 are far from the price.
I see 3 options:
The price will move towards the approximation of the lines, thus creating another correction in the downtrend. This will determine the next N-wave and downward ranges. Potential places to stop the correction are around: 25000, 32000 and 35000.
The price will continue to fall as long as interest rates in the US are rising. Target: the 10000 area.
The current support will push BTC towards another bull market, proving that BTC is an anti-inflation, anti-crisis asset.
As long as the price stays above $19000, I will insist on option 1. If the price knocks out 35000-40000 by the end of the year and stays there, I will start looking towards option 3.
In the very long term, I see BTC above $100000 and, at some point, the collapse of 90% of crypto projects, just as we saw with the .com crisis of 2000-2002.
BTCUSDT - Should I open a short? What do you think of this idea? What is your opinion? Share it in the comments📄🖌
If you like the idea, please give it a like. This is the best "Thank you!" for the author 😊
P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones
XRP / USDTAs you can see in D1 XRP is in this pattern
I draw you the resistance that we will face on our move TO UPTREND
I'm a day trader and all my analysis is good for short term or a day do not use it for long term or hold
kee eyes on the chart and lines that I draw you and take action when the patterns is complete DO NO RUSH IN THE MARKET
DO NOT FORGET TO USE STOP LOSS
Dar shekl mibinid ke dar time frame yek roze in olgo ro darim moghavemat haye pishe roo ru baraye dostan rasm kardam tebghe chart jolo berid va hade zarar faramosh nakonid.
Good luck