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10/9 Good news and bad news...Overview: Which would you prefer to hear first? Let’s start with the good news: the AMEX:SPY has updated its all-time high. If you have a 401k or any other pension fund, you’re likely seeing gains. Also, it's hard to argue that a recession is looming when the stock market is booming. Now for the bad news: crypto is down. Normally, this wouldn’t be alarming, as all markets fluctuate. But it's concerning when we see a divergence between the stock market and crypto. Even riskier tech stocks, like those in the NASDAQ:QQQ index, climbed 0.79%. If traders are eager to buy equities, why not crypto, or at least BINANCE:BTCUSD ? Tomorrow, all eyes will be on Jerome Powell as he delivers the CPI and Core CPI data along with initial jobless claims. Given that recent job reports nearly doubled expectations, we predict fewer jobless claims. The question is: will positive macroeconomic data help? On one hand, it means people have money to spend, which could benefit crypto. On the other hand, it could reduce the chances of aggressive rate cuts, keeping liquidity constrained, and preventing speculative assets from soaring. BlackRock continues dollar-cost averaging into Bitcoin but hasn’t touched its ETH ETF. When did ETH become so hated? CME fedwatch tool shows an increase in the probability of no rate cut in November, up to 17.2%, while the chances of a one-base-point cut sit at 82.2%. BTC TA: W: BTC needs to close above $61.4k to keep bulls in the game. Unfortunately, after today's drop, BTC fell below this crucial level, breaking the bullish structure it had been building since September 7th. Another important level is $62.7k, the point of control for the entire 2024 bull run, which was rejected yesterday. This week is shaping up to print another red candle, following the previous week. D: While the weekly levels are invalidated, the daily levels still offer hope. BTC bounced from the $60.6k support level, and we haven’t seen four consecutive red days since August. If tomorrow's CPI data hints at a bullish sentiment, we might see a small rally back to $62.1k. 4h: Price is currently closer to the lowest Bollinger Band, indicating it needs to catch up with its moving average. 1h: BTC has reached the Bollinger Bands' moving average, but for a stronger recovery, it needs to break beyond this level on the 4h chart to confirm a bounce. Alts Relative to BTC: TAO, SUI, and APT have reached higher highs, but with lower volumes, suggesting that the bullish trend is losing steam. These gains were likely driven by retail investors, FOMOing into the rally. Meanwhile, FTM is showing bearish MACD divergence on the 4-hour chart and was rejected at its weekly resistance of $0.69. Bull Case: At $60k, BTC is relatively cheap, considering how much adoption and recognition crypto has gained in 2024. Since we didn’t experience a massive sell-off in September and have held up into October, this might be your last chance to buy BTC at a sub-$100k price. Additionally, we’re in the Fear territory on the Fear and Greed Index, which historically offers an 83% chance of profitability if bought during this phase. Bear Case: From a technical perspective, things look bearish. Many key support levels have been invalidated, and the likelihood of the Fed not cutting rates in November continues to rise. Fear and Greed Index: 37 (Fear). Prediction: BTC may rebound to $62.1k before resuming its decline. Expect TAO, SUI, and APT to follow BTC's movements, with a potential drop back to pre-BTC ETF levels, which could see declines of 55-60%. Opportunities: Short TAO, SUI, APT, FTM.
COINBASE:BTCUSDShort
by EvgenCapital
SOL vs ADA - A Market Cap Risk Comparison SOL vs ADA - A Market Cap Risk Comparison CRYPTOCAP:ETH , CRYPTOCAP:SOL & CRYPTOCAP:ADA can all rise together & one may win out over the other but I think this chart emphasizes the increased potential -92% downside risk in CRYPTOCAP:SOL CRYPTOCAP:BTC , CRYPTOCAP:ETH & CRYPTOCAP:ADA have c.60% downside to their recent lows by comparison. This also highlights just what an incredible run CRYPTOCAP:SOL has had. To be clear. I am not stating anything other than this. ▫️ SOL has increased downside risk vs BTC, ETH & ADA based on market cap increase ▫️ That Risk may never materialize but it is there and its better to know than not know. ▫️ There is room for all 3 in your portfolio, allocating based on downside risk avoidance may be beneficial. Taking "some profits" when SOL hit $120 was clever and leaving something on the table for the larger long term move is also clever. Its not about being right, its about protecting yourself and trying to stay on the right side of probability. Allocate accordingly. If you are a long term investor all this short term noise does not matter and you might be looking for SOL to make a new low to continue to DCA. Also fine. I am presenting this visual to offer perspective to help you with your own personal portfolio decision. Its just a perspective worth considering. PUKA
CRYPTOCAP:ETH
by PukaCharts
2
ETH: Head & shoulder forming!After thorough analysis, it is apparent that the price of ETH has developed a Head and Shoulders pattern. In the event of a breach below the neckline, a substantial downward movement is anticipated. It is, therefore, advisable to closely monitor the neckline for any such movement. Furthermore, based on the strong correlation between BTC and ETH, it is expected that the latter will follow a similar trajectory as the former. Given the likelihood of BTC decreasing from its present levels, ETH is expected to move downwards as well. Thus, it is reasonable to anticipate that ETH will break below the neckline and experience further downward movement.
Short
by MBM_Crypto
22
CRYPTO week ahead: October 31 – November 06Last week in the news A green week on financial markets was supported by increased investors confidence that the FED's monetary tightening might ease in the coming period. Still, the risks remain. The Dow Jones index closed 800 points higher on a weekly basis. The crypto market followed the optimism, with Bitcoin again reaching $20K and Ether was back to $1.6K. As of Thursday the European Central Bank raised its reference interest rates by additional 75 bps. As noted in a statement, more increases are probable in the coming period. Market reaction was relatively flat, considering that investors are expecting recession across Europe, supported by the heavy increase in gas and food prices. As per latest published data, inflation is continuing to rise, reaching more than 10% in Germany, Europe's strongest economy. At the same time, personal consumption expenditure prices in the US rose 0.3% in September, or 6.2% compared to the same period a year ago. This indicator is closely watched by the FED as one of the indicators of the inflation in the country. It was a positive signal for financial markets, which are currently pricing another rate hike by FED of 75bps, after which, the FED should slow down with further rate increases. One of the most quoted news during the previous week is that Elon Musk is finally a new owner of Twitter. It has been a bit of a chaotic first day of a “Chief Tweet” as several highly positioned officers have left the company. However, the news was positive for DOGE, as the coin surged on the news to 15 cents from 6 cents previously traded. Such a move was sort of expected taking into account the previous DOGE-Musk saga on Twitter. At the same time, Binance CEO, Changpeng Zhao, tweeted that his company participated with $500 million in the Twitter takeover deal. A digital bank Revolut gained approval from the Financial Conduct Authority in the UK to offer crypto services to its clients. Revolut is currently offering more than 30 digital currencies for trading and has a customer base of more than 20 million clients. El Salvador became the first country in the world to accept Bitcoin as a legal tender, now helping the city of Lugano in Switzerland to do the same. As per news reports El Salvador and Lugano signed a memorandum of understanding for adoption of Bitcoin locally. In this sense, El Salvador will open a “bitcoin office” in Lugano with the aim to work on further promotion of bitcoin in Switzerland and across Europe. Crypto market cap A glimpse of optimism was spread on financial markets during the previous week. As latest figures show that the inflation is slowing down, the markets have priced another FED's rate hike at 75bps, in expectation that potential further interest rate increases might be at a lower pace. For investors, this would mean the end of monetary tightening and also an end to withdrawal of funds from the markets. After almost five months of sort of side trading, investors on the crypto market finally decided that it is time to come back. At least some of them. It should be considered that risks from the global macroeconomic environment are still high, in which sense, the recovery might be slow, but it will go in a positive direction. Total crypto market capitalization was increased by 12% during the previous week, adding $108B to total cap. Investors are back on the market, which is expressed through almost doubled daily trading volumes, which reached $154B on a daily basis. Total funds outflow from the beginning of this year is modestly decreased to the level of $1.194B, decreasing total drop to 55%. Almost all coins were traded within green territory during the previous week. Total crypto market capitalization increase during the week was led by major coins, BTC, ETH and BNB. These three coins participated by more than 70% in total crypto market cap increase during the week. The absolute winner was ETH, with an increase in market cap by 24%, adding $39B to its total capitalization. ETH was led by BTC, which added $32B on a weekly basis, or almost 9%. BNB managed to gain additional $6B in market cap or more than 13%. In relative terms, DOGE was without any competition, as the coin increased its cap by an incredible 123% w/w, adding almost $10B to market cap. This is only a short term move, as it has been strongly supported by Musk`s takeover of Twitter. Also in relative terms, Solana had a good week with a cap increase by $2B or 19% and was followed by ADA, with a surge in cap by 24%, adding $3B to it. Rare coins which lost some of their value were Bitcoin Gold, with a drop in cap by almost 10%, and interestingly, Maker, with an decrease in cap of 9%. As for coins in circulation, there has been modest change with Filecoin, which continues to increase its coins in circulation, this time by 1.4%. Tether also continues its quite modest recovery, adding 0.8% of circulating coins on a weekly basis. Two weeks ago XRP decreased its coins in circulation by 0.2%, but during the previous week, the coin managed to increase the number by 0.4%, increasing the circulating coins to above 50 billion. Crypto futures market Since the investor’s optimism is back on the markets, so are crypto futures traded higher during the previous week. Prices of the futures are showing that the market is slowly recovering, but the risks are still high. This conclusion comes from the evidence that the price level for all maturities is higher, but still the maturity curve remains flat. There is a very tight difference between short and long term maturities, showing that investors are still not sure regarding futures prices of both BTC and ETH. BTC short term futures were up by more than 6%, while longer term surged by more than 8%. Maturities at December 2023 ended the week at level above $21K. ETH futures had a stronger surge during the previous week. Short term maturities were up by more than 18%, with December this year ending the week above $1.5K. Longer term maturities surged by 22.5% on average. What continues to be strongly evident with ETH futures are the very tight price range between short and long term maturities. Previous week this range was around 40 points, between $1.538 and $1.580.
CRYPTOCAP:TOTAL
by XBTFX
$APE recovery? Many people argued that $APE coin was going to $3 - and despite the Fib showing me that it would need to bottom out the fib table to get there, I believed it for a moment. I've since slowly changed my mind as I noticed that APE was testing the ~$4.1 support line(historically and presently). That support line has been rejected for the 5th time to date. I initially wrote on this briefly in the comment section of my previous analysis of the coin I'm setting this new analysis up because APE broke through the triangle I was previously tracking, and I can see a new trend potentially forming. The fib tool will better help track APE as it tests current and possibly new supports. The Fib should help track where those new supports may be and clean up some of the volatility I suspect may be coming too. ** Disclaimer** I'm a novice trader working to put my thoughts out there to see how they stack up against the market - please feel free to share/comment on my studies - please don't use this chart as financial advice Technicals The "mini-rally" we see at the moment is likely due to an exchange of 1m coins I detail further down below or some bullish sentiment being expressed, given the 5th support rejection of $4.1 Notably, the 9MA has also become support at point 1 on the fib table presently. I suspect that for the short term, we have found a solid home base for APE's bottom (no pun intended) until we better understand what BTC and ETH will do next. I'm yet to re-enter a position as I don't yet have confidence in what BTC and ETH are doing. They have broken out of their triangles but failed to move convincingly upward leaving me bearish on their movement over the coming days. ETH and BTC have a very strong impact on the price movement of APE so I'm sitting on my hands here. Fundamentals Also, there are little to no details emerging from Yuga regarding staking (other than what I previously mentioned about test-net) and the utility role it will play in their upcoming game, Otherside. This means complicated sentiments remain rooted with holders while ambiguity plays with their emotions. Looking at "Into The Block", - the sentiment for APE is still firmly with long-term holders, that is, those who have held >100k coins for longer than six months. A few big exchanges have occurred between private wallets; notably, on the 21st and 22nd of October, 1m coins were released and re-absorbed. Likely some trade took place there - it's unclear what drove the exchange; it may have just been a shift of funds from a semi-cold wallet to a warm wallet in preparation for trading. Hard to say - the movement to me would be bearish, but that remains to be proven. Social media sentiment on APE remains unclear/neutral as many focus on the next move by BTC/ETH, so no significant comments there for now.
COINBASE:APEUSD
by Cryptoslothx
BTC - Short-Term Correction | ETH analysis inside!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. As per my last analysis (attached below) the bears took over by breaking the wedge pattern downward and BTC traded lower till the 20k support zone. 18k - 20k is a strong support zone so we will be looking for buy setups on lower timeframes. Knowing that BTC can still dive inside the support zone before trading higher. BTC is forming a minor double bottom pattern, but it is not ready to go yet. For the bulls to take over, to start the minor correction upward, we need a momentum candle close above the blue neckline. Meanwhile, until the buy is activated, BTC would be overall bearish and can still dive inside the 18-20k support zone. Regarding ETH, we can see a very similar pattern. ETH is sitting around the 1450 - 1500 support so for the bulls to take over, we need a momentum candle close above the blue neckline. Meanwhile, the bears can still kick in and break the 1450 downward, in this case, further bearish movements would be expected. Which scenario do you think is more probable and why? Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BITSTAMP:BTCUSD
by TheSignalyst
53
can i justify a heavy 1k eth buy? where's the bottom here? 1k to 800 eth... you know what..... ill take it at 1k ://f#ck !t _ #G0tETH the bottom indicator is BTC ETH ALTS or "TOTAL3" DeFi Total Makret cap and dominance charts. the GRENN arrows are showing the crypto market re set situation ive talked about for a few months RE-SET :// BITCOIN DOMINANCE or MARKET LIQUIDITY LAKES _ >Re setting This Alien M00n Tied CRYPT0 EC0 SYSTEM... Buy small n get ready to cost average if drop to last level (or if she confirms uptrend) with plans to sell the car, wifes ring, first born / anything everything in your life that can b turned into cash / ALL in buy_ so like 20 to 30 percent of available funds with plans to cost average if drops or buy hard if confirmed uptrend. Start with stuff you can move quickly get to quickly and has tons of "liquidity depth. Dont want to be on an obscure decentralized exchange or any exchange with shallow liquidity on the pair your trading. Basically when there is heavy trading action or volume this can skew the "spot price" in even worse then the current bleeding market run for your life real or spot price ie u get a horrible deal while having to take a L lol been there talk about concentual R ap e i digress so the plan is to buy about 30 percent of available funds in good entry points that make it easy to buy alts or get out. HEAVY ETH then BTC n thats it. from there ill move on some alts like ADA DOT mainstream types and then if market is truly pumping go deeper market cap alts like OP ZKS OCC with heavy 100 to 50 market cap ranking like YFI CRV AAVE MKR SUSHI UNI whatever your jimmy jam just try to not spread to thin. Good luck all fellow life forms and happy rebound... remember its only a loss if you sell SMILEZ 675 to 750ish is my low here with a buy a cautious buy at 1k and try to not fomo in when she goes to 1150 1200 (look for rejections esp in this range) honestly 1k eth i have a hard time not going heavy on but hey, thats me n mine where we believe running an early eth node is the quickest surest way to financial freedom Shes running free natural wild its just her and the market with wide open fields just begging to be laced with liquidity. 1k is a heavy number for many reasons and ETH doesnt have the same cliff edge btc does or did whatever. anywazz good luck all #G0tETH buy a smaller position now and stay on the sticks so you can scalp on the way up. something-somewhere with limit orders is best (set it to buy and walk away) in usa I use voyager or VPN and FTX then Decentralized Uniswap to layer 2 dexs like ZKS or UNIswap Version or V3 built by optimisim.io (THEYJust launched tokens big due to unorthodox of saying when started we have no tokens and dont plan on any so airdropping these in true uniswap style for people who play on these deep wood decentralized dexs)
FTX:ETHUSDLong
by HustleGrindMomentum
Weekly analyze of crypto market (May 2-May 6)This week, the crypto market was in a downtrend. BTC’s week k-line continued its fluctuated downward trend after rise to new lows. The day K-line downward channel broke down, and the potential double-bottom reversal structure was destroyed. The long will regain the advantage when the day k-line come back to be above 38500. the support range is 33500-34500, the pressure range is 38500-40000. CRYPTOCAP:BTC The ETH weekly line has closed out the K line with the upper shadow center of gravity moving down, no stop signal, the downward momentum remains unchanged. the day k-line rebound is blocked, MA120 falls back. At present, it has broken the recent low point slightly, and the trend is stronger than the market. The critical level is 2850, the support rang is 2450-2550, and the pressure range is 2900-3000. CRYPTOCAP:ETH The grid and Martin strategy are suggested for sp CRYPTOCAP:BTC ot, and the SMT strategy for futures. (For reference only, plz invest rationally)
NASDAQ:AAPL
by VtradingGlobal
Why I am NOT holding BITCOINThis above is the well known Bitcoin Dominance chart. It keeps making lower lows and lower highs. I hold zero BTC in my portfolio. In the scope of an investor, there are plenty other cryptos with much more potential. Bitcoin remains the safest cryptocurrency with its proof of work, but people are starting to understand that it has very limited use cases, very slow transaction speed, and cannot scale. In short, it is getting old and it is harder to get returns like 2x by holding BTC (that would mean a 100k BTC right now). The FLIPPENING didn't happen, yet. But it is getting closer. Current BTC marketcap is 882B while ETH is 420B. We can't see much information on this chart, that is why I coded a simple indicator that put into perspective the progress of ETH getting over BTC in market cap. (You can get it on my profile scripts page) The chart shows Bitcoin marketcap divived by Ethereum marketcap. On September 2019, Bitcoin's MarketCap hits ATH against ETH, by being 10 times bigger. Today, the ratio is about 2x only. When this ratio drops below 1, the FLIPPENING will happen. We can easily draw a descending channel on the daily. This helps forecast an approximative date for said FLIPPENING: IF WE REMAIN IN THIS CHANNEL, THE FLIPPENING WILL HAPPEN BEFORE FEBRUARY 2023. A breakout is possible, but rather unlikely. My point is: I don't want to miss the train. Some cryptocurrency projects are building the future of the internet RIGHT NOW, and bitcoin isn't. It is going to be replaced. I will then be looking at some of the biggest layer 1 opponents which are popping off right now. I like to call them Bitcoin Destroyers. Here is 8 of them: All of them are beating Bitcoin right now and could stand a chance at replacing him in the long run. Not financial advice, do your own research.
CRYPTOCAP:BTC.D
by cyatophilum
9
alt market cap chart gaining momentum as eth n btc go flatcompare the TOTAL TOTAL2 n TOTAL3 MARKET CAP CHARTS u will see that alts r getting overextended when compared to the flat price action of eth n esp btc. without fresh money entering the price action will stagnate n drop off. we saw weird volume n price action last three days with btc n eth now wei n etherum traffic is thro the roof. like 400 wei. r these funds pumping alts with btc eth monies.... food for thought bag hold inbound??? or do we get some time to play? or r we flat out wrong n that bull market is full on back (we dont fully disagree there we just looking at more weekly n daily charts not 1hr n less smilez in the end we still believe in the end this market is all going to the same mountain top) all in all great time to stable coin or and reduce positions esp in the alt arena. good luck n lets see if we can break 46 to 48 n get passed that 50k btc or we r very very likely seeing a re trace like we have been giving examples of. this could go on for days even a week or so as we see alts n long positions overextend or next few days. regardless we believe the market will go back down n re set before we see a run at new ATH's. this is just our opinion but if you see something similar and have a hi risk tolerance n time to spend on the sticks the scalping and alt pump opportunities will be amazing_ esp the longer we see btc remain in this 46 47kk to 44 45k bubble.... if we see a break out try n hold something back. there is some folks that bought heavy btc etc around 50k plus n we need to see how that plays out at some point when we get back to those levels eventfully. if its in the next few weeks (or after a re test like we think) there should be time to scalp n take positions as things cool off (if this down trend theory proves false n we get that break out every one seem to think is coming) PS tuff luck to all DMST HODLers. i liked that project but these r the risks esp in choppy markets with these super deep market cap alts
CRYPTOCAP:TOTAL3Long
by HustleGrindMomentum
2
Unraveling the Bitcoin mystery...BIG BTC UPDATE: Alright everyone let's unravel the Bitcoin mystery here once and for all; so we stop getting rekt in this choppy sideways BTC market and we can move onto more profitable and more accurate business! First of all; at the moment BTC is in a sideways market and battling a heavy resistance cluster for the last weeks now and thus far is unable to break it. This leads to tons of posts of traders who call it tops, head and shoulders, double top; you name it - I've seen it all now. And there's the other side screaming BTC will be at 100K this summer; in my opinion; both sides are wrong. So what is really happening? Well, this might be a new concept for people that just entered the market or not what we want to see but BTC is in a sideways market. Sideways means sideways; no 100K and no 20K. For the people that don't know; the market moves sideways most of time; not up or down; sideways or you can call it a range as well. So, we need the big picture to understand what that means, so I did some magic on the all time history BTC chart and the picture is very clear. Let's go over some crucial support and resistance levels and some possible scenarios: - STRONG SUPPORT: currently around 42K in line with 1.0 extension of the 2017 bull market. (2017 top) - STRONG RESISTANCE: currently around 66K in line with 1.0 extension of the current bull run. (and the current local top) - LOCAL SUPPORT: currently around 50K in line with 0.25 extension of the current bull run. - LOCAL RESISTANCE: currently around 59K; check the resistance cluster displayed on my chart. Zone of interest are the 0.25 extension from the 2013 (!!!) bull market and the 0.25 extension of the current bull run. Inside this wedge; we are neutral - when we break above this wedge we have a bullish sentiment (not trend just yet) and if we break below the wedge; we have a bearish trend. So all of you want to know when BTC is going to rip new ATH's; well, in my opinion that's very simple; when (!) we break 0.618 extension of the 2013 (!!!) bull run and we hold this trendline as support; we will see our next impulse from there! So for example; if would have broken that level today, held it as support and started an impulse from there; we should've been able to gain about 13% (from the 0.618 / 2013 extension) to about 65,8K; where we currently have strong resistance. So the golden pocket from 2013 is THE level to watch out for! Situation right now: we are currently still trading above the 0.25 extension wedge; which indicates a bullish sentiment. If we are able to close our current weekly candle above this level; I believe we should be able to break out from the resistance cluster and thus effectively break the 0.618 extension from 2013 aswell. This would mean we can rally to around 66K, in line with the 1.618 extension of the current trend. However, we are just ever so slightly trading above the wedge and breaking back into the wedge brings us back to a neutral market (with a slightly bearish sentiment); in that case we could keep range trading for the rest of the month. Which is no problem at all; in previous bull runs; we had sideways markets for months before starting a new huge impulse. As it seems for now; we are more and more in line with the 2013 bull market which had a local top in April (do you see the similarity here!!?) and topped out after a 370+% rally in December 2013. So, this could (not will) be playing out in a similar fashion right now... So if we take that as a reference; BTC was down + sideways from April to October 2013, in order to start a new rally from October to December 2013. So, I think clears up a lot, doesn't it? Either we break the resistance and create a new impulse and a new ATH or we will continue a sideways market inside the wedge and if we a create bearish trend; we have strong support below us around 42K. Please do note, that these are diagonal (!) trendlines; this means support and resistance levels move up (!) every day. As of for now, we can not talk about any projections for our next top but if we have a similar scenario as in 2013; the estimate would be 80K. If (!) however we would break our current 1.0 extension (strong resistance) and hold it as support and we would start a new impulse from there; we will most likely see BTC break above 100K. For now; we want to break the resistance cluster + the 0.618 of 2013 and we need to breakout of the triangle in the RSI in order to turn bullish on Bitcoin. Lastly and I have to mention this as it's important: ETH will very likely (not 100% but big chance) outperform BTC significantly for the rest of this bull run and I believe we are not very far from a BTC / ETH flip! Nothing would be more healthy for the market in my opinion as crypto is not focused on store of value; it is focused on decentralized infrastructure. Therefore we need and will see ETH at the number 1 spot sooner rather than later; my projection is that this will happen this year or in 2022. This would also mean that BTC is no longer the leading indicator for other coins and therefore BTC could dump and the market wouldn't care as much; this role will be taken over by Ethereum. Conclusion; BTC is not bearish at all; it is neutral right now and I do expect more significant gains this year. The BTC bull market is only over if we break our strong support trendline (1.0 extension of 2017). For now, we don't have to worry but we also don't have to be overly excited as there are NO trades in Bitcoin as long as she does not choose a direction. So, why is my post tagged as long? Because I do believe we will see gains in the mid / long term. IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
INDEX:BTCUSDLong
by cryptobullethbtcxlm
7
ETH Weekly Support/Resistance Zones and Fibonacci Price TargetsI am bullish on ETH as long as it is closing weekly candles above the red 10SMA. Currently the 10SMA is sitting around $1,400. If price closes above the prior weekly high at $1,935, then I'll be looking for a bullish move beyond the 1.618 Fibonacci extension. If price finds support above the 1.618 Fibonacci, then I will be looking for a move to the 2.618 Fibonacci at $3,450. So on and so forth! Weekly Fibonacci Targets 1.618: $2,163 2.618: $3,450 3.618: $4,700 4.236: $5,500 4.618: $6,000 BTC/ETH has been looking bearish. If the bulls cannot hold the weekly 200EMA as support, then I will be looking for a deeper retracement. If ETH does not bounce and continues its downtrend, then BTC will continue to outperform it. Weekly stochastics looks like it pullback would be healthy for further continuation. If stochastics came down to the trend line, then I would look at that as an opportunity. Daily RSI had three drives of bearish divergence. With the strong bounce after this morning's pullback, this divergence may have played out. Weekly RSI just bounced off the exponential and appears to have the bullish control zone as support. If price closes as weekly above the prior high, then I suspect we'll see continuation to the 1.618 Fibonacci extension and beyond over time! Albeit I theorized that ETH would reach $20K this bull run, considering the exorbitant gas fees on the ETH blockchain and myriad other alternatives in the cryptosphere these days, I don't see that happening. I would again change to a super bull if ETH 2.0 was successfully rolled out and alleviated the slow transaction times and costly transaction fees we are seeing on the ETH with all this congestion! Currently, ETH average gas price is at a current level of 144.97, down from 201.54 yesterday and up from 10.36 one year ago. Why spend $100-$200 on a single transaction when it can be done on other blockchains for $0.05-$0.25? ETH betta get that 2.0 rolled out quick, else it is going to lose a lot of ground this bull run! --- Guide to My Charts -The purple horizontal lines are support/resistance 'zones'. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone! -Yellow lines are typically used to chart out pattern formations and trend lines! -The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA). -Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white. -The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed. --- Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community! --- Disclaimer: This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas. These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
COINBASE:ETHUSDLong
by CryptoGuru369
7
BTC/USD Critical Support LevelsDear Crypto Trading diary, I'm super excited that BTC was able to make this move as quickly as it did. But i did close @10% of my BTC position to keep the powder dry. I will dollar cost avg the 10% back in at the various levels of support. I DO SUSPECT we will have to retest at least one major level of support. Because we've handedly broken through two of them in the past 24hrs. With all these wonderful crypto ATH's (including ETH's), its just hard to imagine generating enough buy side volume to smash through $41.5K here (and NOW). Having a small consolidation here also eliminates the risk of shooting straight to $41.5K without enough momentum to clear the resistance and flip it to support. IF we get to $41.5K NOW, AND we do not clear it with momentum, we are looking at a potentially LARGE double top setup. This might already be in development. So as a LT HODL'er, i honestly don't want to see $41.5K breakthrough until we retest (at least) the $38K and ideally even that $36K level that only temporarily got busted because of the Elon twitter action. Keep some powder dry because i don't think this is the last chance to buy at 36-38K range. AND if i'm wrong, i'm only out like 10% of 10%. If i'm right, i can buy back my 10% at a $20% discount. There's just alot of volume in the DEFI and ALT space. ETH is holding its ATH. Its like all crypto is pushing to break some form of resistance simultaneouly. GREAT for the LT prospects of the space. We will see the next parabolic rise in BTC, ETH and many ALTS all in this next week. It just can't all happen in the same 4-6hr stretch. I think BTC takes another (1-2 day) backseat to ETH, LINK and some other ALT's in the next 24hrs. Just me writing my thoughts to myself. I am not a professional and this is not advice. Do the opposite of what i suggest.
COINBASE:BTCUSDLong
by McGorgeous
1
ALT-SEASON NOW?As you can see in the Chart ETH/BTC is in a massive pendant. We are at the end of the pendant which means decision time. - I am bullish on ETH long-term and have bought $150-$250-$400 (As we posted). - If we break this pendant to the upside ETH could provide massive gains - which I believe it will. - ETH will be huge in the future and the opportunity might be right around the corner. The gap between BTC and ETH will close. *Alt-seaon is close - I would add to some alt coins you believe in but only a small amount. As always have the most BTC - ETH 2nd.
Long
by GlobalHealthWealth
2
ETH Bullish Ahead of 2.0 Contract Launch: TP $817There is very little resistance between the current price and the next target price I have marked which is $817. ETH currently has several bullish fundamentals driving price. The foremost being PayPal which continues to push new daily all time highs in volume traded. Here is a readout of the last 18 days of daily November volume traded on PayPal (in USD): 2020-11-18 43,643,232 2020-11-17 31,361,360 2020-11-16 15,742,162 2020-11-15 5,715,007 2020-11-14 7,474,379 2020-11-13 16,897,665 2020-11-12 24,753,849 2020-11-11 19,522,311 2020-11-10 15,339,004 2020-11-09 24,493,487 2020-11-08 7,907,173 2020-11-07 20,472,201 2020-11-06 23,078,367 2020-11-05 21,414,695 2020-11-04 21,726,062 2020-11-03 16,039,874 2020-11-02 14,475,433 2020-11-01 10,281,997 As you can see volumes are rising significantly on PayPal - which includes BTC, ETH, BCH, and LTC - most of which is BTC and ETH. The all time high was just printed on November 18th but the amount over the last 3 days is pretty breathtaking as this could ignite much higher considering 305 million can now buy crypto hassle free once they discover the news. Most people are still unaware and asleep due to the fact that this bull run so far has been "stealth-like" without retail FOMO coming in yet. ETH 2.0 Nov. 24th Deadline I fully expect if ETH can garner the full 524k in the contract address by Nov. 24th, we should see a massive bullish spike upwards through the air pocket to $800+. There is very little resistance b/w here and there and it appears there are some big whales interested in staking as the annual APR is upwards of 25% for being a validator in ETH 2.0. A whale just announced today that he will deposit 20,000 ETH - www.trustnodes.com This now brings the total of ETH staked to 130k+ and rising. All that needs to happen are a few more whales and we could easily pass the minimum amount necessary to launch Phase 0.
POLONIEX:ETHUSDLong
by ich1baN
Trend Analysis: BTC ETH XRP BCH LTCBTC/USD Current situation: The price of Bitcoin is above $6300. We expect a further decline in the BTC/USD quotes. Goals of the decline: $6100, $5700. Cancellation of the scenario may be caused by Bitcoin price increase above $6800. Resistance levels: $6400; $6450; $6800; $6900; $7200; $7400. Support levels: $6300; $6100; $5800; $5400; $4500. Forecast: BTC/USD price reduction from $6300- $6400 with targets: $6100, $5700. ETH/USD Current situation: The quotation of the Ethereum continues to be in the growth channel with support near $200 and resistance in the area of $220- $230. If buyers manage to break through the resistance line, growth can be continued to the level of $280. We remain in the position of sellers. The main support zone is $195-$185. If the sellers manage to break through this zone, then we will expect the ETH/USD price to drop to $150- $110. Zones of resistance remain the same: $220, $240, $260 and $280. We expect a further decline in the price of ETH/USD to levels of $150, $110. Resistance levels: $220; $240, $280; $300; $325; $350; $380; $400. Support levels: $200; $180; $150; $100. Forecast: Continued decline in the price of ETH/USD from $200-$220 zone with target in the area of $180- $150. XRP/USD Current situation: Ripple price is near the $0.50 level. If the sellers manage to break through the $0.44- $0.40 zone, then we will expect XRP/USD quotation near $0.30. Also, we do not exclude the renewal of minimum prices in the $0.20- $0.15 zone. Resistance levels: $0.50; $0.58; $0.70; $0.76. Support levels: $0.44; $0.38; $0.30. Forecast: Reduction of the price of Ripple from the level of $0.50 and the target near the level of $0.30. BCH/USD Current situation: The price of Bitcoin Cash is near $600. The following levels of support are the marks: 500, 425. If the BCH/USD sellers manage to return the quotation below the 425 level, then we expect the BCH/USD price to be updated annually at $400- $350. Also, do not exclude the fall in prices to $300. Resistance levels: $560; $600; $620; $650; $680; $800. Support levels: $500; $425; $400; $350; $300. Forecast: Reduction of the price of BCH/USD from $560 and a target near $350. LTC/USD Current situation: Litecoin price continues to trade above $50. We predict a fall in the price of LTC/USD to the level of $46, we also do not exclude a decline to the zone of $35 - $30. Resistance levels: $54; $58; $60; $62; $65; $68; $72; $75. Support levels: $50; $49; $46. Forecast: Drop in the price of Litecoin from the level of $51 and the target - $46.
BITSTAMP:BTCUSDShort
by VARZAR_INVESTMENT
Trend Analysis: BTC ETH XRP BCH LTCBTC/USD Current situation: The price of Bitcoin is near $6300. We expect a further decline in the BTC/USD quotes. The goals of the decline remain the same: $6100, $5700. Cancellation of the scenario may be caused by Bitcoin price increase above $6800. Resistance levels: $6400; $6450; $6800; $6900; $7200; $7400. Support levels: $6300; $6100; $5800; $5400; $4500. Forecast: BTC/USD price reduction from $6300- $6400 with targets: $6100, $5700. ETH/USD Current situation: The quotation of the Ether continues to be in the growth channel with support near $200 and resistance in the area of $220- $230. We remain in the position of sellers. The main support zone is $195-$185. If the sellers manage to break through this zone, then we will expect the ETH/USD price to drop to $150- $110. Zones of resistance remain the same: $220, $240, $260 and $280. We expect a further decline in the price of ETH/USD to levels of $150, $110. Resistance levels: $220; $240, $280; $300; $325; $350; $380; $400. Support levels: $200; $180; $150; $100. Forecast: Continued decline in the price of ETH/USD from $200-$220 zone with target in the area of $180- $150. XRP/USD Current situation: Ripple price is near the $0.50 level. If the sellers manage to break through the $0.44- $0.40 zone, then we will expect XRP/USD quotation near $0.30. Also, we do not exclude the renewal of minimum prices in the $0.20- $0.15 zone. Resistance levels: $0.50; $0.58; $0.70; $0.76. Support levels: $0.44; $0.38; $0.30. Forecast: Reduction of the price of Ripple from the level of $0.50 and the target near the level of $0.30. BCH/USD Current situation: The price of Bitcoin Cash is near $600. The following levels of support are the marks: $500, $425. If the BCH/USD sellers manage to return the quotation below the $425 level, then we expect the BCH/USD price to be updated annually at $400- $350. Also, do not exclude the fall in prices to $300. Resistance levels: $560; $600; $620; $650; $680; $800. Support levels: $500; $425; $400; $350; $300. Forecast: Reduction of the price of BCH/USD from $560 and a target near $350. LTC/USD Current situation: Litecoin price continues to trade above $50. We predict a fall in the price of LTC/USD to the level of $46, we also do not exclude a decline to the zone of $35 - $30. Resistance levels: $54; $58; $60; $62; $65; $68; $72; $75. Support levels: $50; $49; $46. Forecast: Drop in the price of Litecoin from the level of $51 and the target - $46.
BITSTAMP:BTCUSDShort
by VARZAR_INVESTMENT
Trend Analysis: BTC ETH XRP BCH LTCBTC/USD Current situation: The price of Bitcoin strayed from the level of $6300 and is currently trading above this level. We expect a further decline in BTC/USD quotes from $6400. The goals of the decline remain the same: $6100, $5700. Cancellation of the scenario may be caused by Bitcoin price increase above $6800. Resistance levels: $6400; $6450; $6800; $6900; $7200; $7400. Support levels: $6300; $6100; $5800; $5400; $4500. Forecast: BTC/USD price reduction from $6300- $6400 and targets: $6100, $5700. ETH/USD Current situation: The quotation of Ethereum is above the level of $200. The main scenario remains the same. The main support zone is $195-$185. If the sellers manage to break through this zone, then we will expect the ETH/USD price to drop to $150- $110. Zones of resistance remain the same: $220, $240, $260 and $280. We expect a further decline in the price of ETH/USD to levels of $150, $110. Resistance levels: $220; $240, $280; $300; $325; $350; $380; $400. Support levels: $200; $180; $150; $100. Forecast: Continued fall in the price of ETH/USD from the zone of $200- $2220 and the goal in the zone of $180- $150. XRP/USD Current situation: Ripple price is near the $0.50 level. If the sellers manage to break through the $0.44- $0.40 zone, then we will expect XRP/USD quotation near $0.30. Also, we do not exclude the renewal of minimum prices in the $0.20- $0.15 zone. Resistance levels: $0.50; $0.58; $0.70; $0.76. Support levels: $0.44; $0.38; $0.30. Forecast: Ripple price reduction from $0.50 and target near $0.30 level. BCH/USD Current situation: The main scenario remains the same. The price of Bitcoin Cash is near $600. The following levels of support are the marks: 500, 425. If the BCH/USD sellers manage to return the quotation below the 425 level, then we expect the BCH/USD price to be updated annually at $400- $350. Also, do not exclude the fall in prices to $300. Resistance levels: $560; $600; $620; $650; $680; $800. Support levels: $500; $425; $400; $350; $300. Forecast: Reduction of the price of BCH/USD from $560 and a target near $350. LTC/USD Current situation: Litecoin price is above $50. We predict a fall in the price of Litecoin to the level of $46; we also do not exclude a fall to the $35 - $30 zone. Resistance levels: $54; $58; $60; $62; $65; $68; $72; $75. Support levels: $50; $49; $46. Forecast: decrease in the price of Litecoin from the level of $51 and with the target of $46.
BITSTAMP:BTCUSDShort
by VARZAR_INVESTMENT