ETH-BTC
BTC Imminent breakdown and Sell positionBitcoin is consolidating for quite some time now with zigzap pattern form, but, if we look closely, we can see that the price is congesting and the pressure seems to be on the sell-side.
Also, price action since the start of July is putting a descending triangle on our chart.
As you may have noticed, I'm bearish crypto for a few months now and I expect this drop to continue.
In Btc's case I expect a break under 34,000 zone support and even a drop under 29k important figure.
Obviously, a break back above 43K would negate this scenario.
Always remember to set stop loss and trade what you can afford and risk.
Please leave a like and comment it will help us more.
Thank you.
ETH - Potential Bearish Reversal!Hello everyone, if you like the idea, do not forget to support with a like and follow.
ETH is sitting around strong daily support in green so we will be looking for buy setups.
Before we buy, we want the buyers to prove that they are taking over again.
You don't want to buy a bearish market right?
on H4: ETH is forming a channel in red but our upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, ETH would be overall bearish can still trade lower and even break the green support downward.
In this case, if we have a big bearish daily candle closing below the green support, then the next support/rejection would be the 1700.0
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
ETH/BTC Spread: Long-Term Elliott Wave CountI think the giant triangle holds water because the correction we are seeing right now would be a summer lull before a bull run.... This view reinforces my opinion that 1,700 is a great entry point at a rate of 0.055 ETH per BTC. The next rally could see that ratio triple to 0.15 ETH per BTC, a serious decoupling.
Crypto Total Market Cap, June 29A double bottom is happening on Crypto Total Market Cap and target is around $1.7 Trillion as you can see.
It is on bullish trend and it has reacted to the support level , It is on 0.618 Fibonacci level too
Zoom out the chart, you can see the whole history.
Same thing is happening on BTCUSDT chart also which is normal and target for that is $40k , If this really happen then BTC will returns to the bullish channel and BTC rally is still going on (see my previous idea, I have linked it below).
Educational chronology Over the last couple of Months, I have published some educational content here @TradingView and wanted to correlate them into one post as they now cover several pages.
Starting with some of the fundamentals and into more of the advanced topics;
EACH IMAGE IS A LINK TO THE ACTUAL POSTS
Starting with Psychology - one of the most important things to pick up on early. There are some great books on trading psychology, one of the best in my personal experience is Trading In the Zone by Mark Douglas.
I expanded on this psychology one - by adding cartoons to break down the stages.
As for some good books see this post;
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When starting (many new traders are joining sites such as TradingView) for crypto. So when assessing companies/coins to invest in - it's good to have some depth on the company. Here's a guide on assessing alt coins;
Another relevant topic in crypto - as there will be dips! IS how to buy the dips.
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Chart basics
Trendlines;
Moving Averages;
Mixing timeframes on the chart;
A little more advanced
MACD;
Confusion in Indicators;
Gann Fans;
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Emotional analysis - Elliott & Wyckoff
Why I called this emotional analysis - is that the way Elliott & Wyckoff could read the situation above the chart price, the fact that human behavior drives markets. Composite man (Wyckoff story) controls the markets based on understanding how humans think. Means this is less technical and more emotional.
Elliott Basics;
Elliott Level 2;
Wyckoff;
Wyckoff chart basics;
Basics 2;
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Another topic worth mentioning is COT (Commitment of Traders) a report issued once a week on the large money moves, in simple terms.
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I know there is a lot here in one post - but I hope it helps going through the basics like this and you can save for reference. This was mainly due to all of these posts being over several pages in my profile. This way it's all accessible.
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
PERL / BTCBuying PERL here
Holding strong above horizontal support level.
Testing uptrend line support on 1D timeframe.
Targets mentioned in above chart.
Stop if 1D close below 175
If you liked my idea, follow me for more.
Blow off Tops for BTC, BNB, ETH and Total2Very curiously lots of people have been asking where the blow off tops have been for crypto because they are use to seeing blow off tops on crypto on weekly or monthly charts. As the market matures it begins to move a little slower and we can see that by looking at the newer coins, BND and ETH showing a blow off top on the 3 month but BTC showing the blow off top on the six month chart.
This also leads to a broader point of what charts scale to use. This rejection wicks or profit taking wicks are very clear on the standard scale. They don't look so bad on the log scale. Also, lots of people crow about doing long term analysis but it seems they don't want to consider how bearish these candles are.
Seriously, how can you be bullish on this?
ETHBTC - Bullish Idea (5-Day TF)ETHBTC Symmetrical Triangle that broke higher could be forming a continuation pattern (pennant/flag/wedge/ascending triangle).
The break out of the triangle got rejected at the 0.5 fib level, pulled over the 2017 bull market.
Since we broke out of the symmetrical triangle at the 0.236 level we can also expect a pullback and retest of that level before continuing higher.
Bitcoin Dominance chart also seems to be in a bear flag, which could be the inverse of the ETH/BTC bull flag.
The 0.786 and 0.236 fib levels have acted as rejection points during the bear market, interesting to note.
Happy (Independence weekend) - Early Logging off for the weekend! I wanted to say, have a great weekend!
One question for you - where do you think BTC will be at the close of Sunday (4th of July)???
Up or down? Sideways? What you got?
See our signature for more info & related ideas linked below;
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Ethereum Is Decoupling Bitcoin SignificantlyThe intraday spread between Ethereum and Bitcoin is widening at a faster pace than expected. Seems like the third wave is being extended, which is a very bullish sign. I would expect Ethereum to claw back more market cap dominance over the next couple weeks.
hypnotic Bitcoin - stair at image! Look at the image here with no text alongside it.
Only a bit of fun - but BTC can be hypnotic for many! See the 3D boxes when you stair and look through the screen for 10 seconds or more!
Just amazing to play around with @TradingView and I thought I would share with our community!
Hope your all having a great week!
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Ethereum/Bitcoin Spread Should Expand MoreFor those unfamiliar with this indicator, the ETH/BTC intraday spread is a great risk on / risk off barometer for the crypto markets. I was both right and wrong in my previous analysis. I was right that the last downward wave was shaped as an ending diagonal. However I was wrong, when I thought it would go lower when it was actually completed. I relabeled the count to match what we are seeing right now with the movement of both cryptocurrencies. As I am writing these lines, ETH is consolidating the large gains made over the previous days. In theory, there should be another upward movement so we get 5 waves up from the lows of this week-end. As a trader, this means you should focus on trading ETH because it has potential for more gains.
ETH Daily chart. GO LONGHey everyone!
the market has looked to have bottomed out. It also looks like we are in the last phase of the wyckoff pattern. On smaller time frames we have bullish divergence also. The last thing to look at was the falling wedge which now we are looking to break out of. The blacklines represent the trend and the neckline that we broke and now will become support.
Trade Idea
Enter 2000 - 2050
SL: 1700
TP: 3000
happy trading