Bitcoin (BTCUSD) made a new Lower Low since the short-term Channel Down started on April 14 and is rebounding in the past five hours. The long-term pattern remains a Bullish Megaphone and this Channel Down is the corrective wave towards the Higher Lows trend-line. For as long as it holds, it is likely to see it bottom on the 1D MA200 (orange trend-line) just like...
Traders, I will accept our wick down today to a price of 25,300 as a touch of the neckline from the Cup and Handle pattern. For months, I have been expecting this retest at 25,200. I think 25,300 is good enough! Now we go up. If you follow my channel, you will see a future post regarding the top 6 altcoins I am currently looking for long entries in should we...
Bitcoin is currently in a challenging position, influenced by recent negative events in the market and the SEC complaint against Binance. As a result, the price of Bitcoin experienced a significant drop, causing a ripple effect on altcoins, which fell by over 10%. From a technical analysis standpoint, several indicators paint a mixed picture for Bitcoin: 1....
Sellers have strongly reacted to the news about Binance CEO. If you missed, "SEC Sues Binance and CEO Zhao for Breaking Securities Rules". The market formed a high momentum bearish candle on a daily time frame, that violated a key horizontal demand cluster. The broken structure turned into a strong zone of supply. I will expect a bearish move from that at...
Fantom is currently in an ABC correction for a move higher. We've already made the bottom so we have a strict invalidation level to work with. The upside potential is incredible (1500% gains) compared to the downside risk associated with this trade. Trade Idea: - For a safe entry, watch for a break of the channel - For a risk entry, enter on break of lower...
GALA looks like a very simple Impulse, correction, impulse. We've recently broken out of the year long correction with a nice impulse. We are now in an ABC correction which appears to be held within a parallel descending channel. We've seen both waves A and B and we are currently in wave C. See chart update for lower timeframe analysis. Trade Idea: - For a...
The chart shows just how effective the quarterly ranges have been so far since entering the new range. A lot of volatility waiting at the top of the range/ swing high, very hard to tell we go from there but one things for sure the bearish Orderblock at 40k will be a huge shorting opportunity, however I don't think we get there too soon.
This is just a quick update on Bitcoin. I will also include the Bitcoin/SPX chart in this post, simply because it continues to appear much weaker than BTC/USD, which I think is fundamentally significant - particularly with waning liquidity in crypto markets and the loss of broader appeal. In the above chart, you can see that Bitcoin is treading water above the...
Binance and its co-founder Changpeng Zhao (CZ) were sued by the U.S. SEC on 13 different charges. The commission claimed that the defendants mixed together user funds worth billions of dollars and pointed out that the money was sent to a European company controlled by CZ. The commission stated that Binance established its U.S.-based entity, Binance.US, as a means...
Over the weekend, Bitcoin took off and broke above $27,666. Then, yesterday it reached a high of $28,452. However, Bitcoin failed to hold this level for an extended period and quickly faltered below the $28,000 price tag. What caught our attention is that Bitcoin fully retraced to the 50-day SMA, which successfully halted a buying spree. Furthermore, MACD and...
Third on-hold week on the crypto market. The debt-ceiling deal was accomplished and approved by the US Senate and President Biden, which brought some positive sentiment on the financial markets. Still, old concerns are returning into the focus – further increase of interest rates by the Fed and potential recession in the coming period. At this moment, the crypto...
BTC my Local Plan. Retest of range -good area for LONG watch full video
TECHNICALS We’re looking at the daily Bitcoin chart. We can clearly see since January 2023 up to April 2023, the price has been on a strong upward trajectory. It’s moved from a low of $16,903 up to a high of $31,059. That’s an 83% rally in just 4 months. Since then, the price has had a correction and has retraced a bit. During that time, it’s formed what’s...
An idea for BTCUSD showing a rise to about 50K and then a sharper movement down towards the uptrend line. Price can be seen as bullish as it climbs above the 1.618 Fibonacci circle line in orange. Dotted Horizontals are supports and resistance zones. Still bullish.
Bitcoin (BTCUSD) posted last month the first 1M (monthly) red candle closing since December 2022. That was a strong four month bullish streak with the 1M MA50 (blue trend-line) supporting since March 2023. On today's analysis we put emphasis on the importance of the candle closings on the 1M time-frame. As you see, both May and April closed below the Resistance...
BTCUSDT in weekly RSI broke its upward trend line and moved down after the pullback But the price has not yet reached its trend line and we expect it to move toward the trend line
DOT has giving us an EASY trade setup. The big wave 2 was an irregular FLAT correction, which consisted of an ABC wave (3-3-5 breakdown). We are now in wave 3 and we've seen subwave 1 and currently in subwave 2. For confirmation of subwave 3, we can wait for the break of red trendline. Trade Idea: - Safe entry on break of red trendline - Risk entry anywhere...
ETH is currently in wave 4 correction, which appears to be a WXY wave. On lower timeframe, we appear to have completed Wave X. We are now expecting the highs of wave X to be respected and we can watch for a lower timeframe trendline break for entry. Trade Idea: - Enter on trendline break - stops above wave X or above price once trendline breaks - Targets: 900,...