NewThoughtCrypto

NewThoughtCrypto

TLDR: • This Idea is for traders that are sidelined and looking to enter long or to those of you that would like to increase position size. • As in the previous Bitcoin idea, this idea is valid Assuming that this Impulse up is finished. • I charted the Fibonacci Retracement levels and a Demand Zone in an effort to find the most likely target for a pullback. ...

NewThoughtCrypto

TLDR: This Idea is for traders that are sidelined and looking to enter long or to those of you that would like to increase position size. I am bullish on Bitcoin, but I feel compelled to say that IMO the uptrend is not confirmed until we breach the 28.5K level and test it as support. Assuming that this Impulse up is finished , I charted some Fib levels that...

NewThoughtCrypto Updated 

I expect the upper trendline to act as resistance. Bitcoin is oversold on 4H timeframe. IMO, we will see a retrace to the lower support trendline and push up from there. If this trade is successful, I will leave some on the table, just in case my doomsday scenario will materialize.

NewThoughtCrypto

TLDR: DOGE has been in a downtrend since May 2021. Overall DOGE’s price depreciated more than 90% since its ATH to its current value of 0.0619 USD. Although the chart looks bearish, I have some reasons to be optimistic about DOGE’s chances of future recovery (Twitter). This is a Degen play, not something to bet your house money on. DOGE Coin Long Term...

NewThoughtCrypto Updated 

Analyzing a coin with a short price history is a challenge. In TA we analyze an asset based on past performance and try to project what this past performance may mean for future performance. A coin without a significant past PA is tricky. However, because of it’s incredible PA recently and because of this asset’s fundamentals I will follow it closely and share...

NewThoughtCrypto Updated 

• It is not the first time it seems like BNB is up against the ropes. In November/December 2022 BNB faced some serious headwinds following rumors about Binance being insolvent. The affiliation between Binance and BNB coin caused a 30% drop in BNB’s price. • Experience shows that these FUD cycles are a great buying opportunity if you can take the pressure. Then...

NewThoughtCrypto Updated 

TLDR: • As long as Bitcoin holds the upward sloping trendline, it is probable that it completed its correction. • Target for new impulse is at least 39K. Background: • Bitcoin is coming out of a two-month (62 days) correction. During this correction Bitcoin’s price dropped by approximately 20%. This correction was (or is) characterized by a lot of range...

NewThoughtCrypto Updated 

• MASK has been one of the coins that performed the best during 2023. During the month of October 2022 MASK made an astonishing 500% on the back of the hype of Elon Musk’s purchase of Twitter. Since then, it has kept the uptrend and only lost the 200D EMA on June 10th, 2023. • Unlike other coins, MASK’s uptrend is not completely lost. MASK needs only an 11% price...

NewThoughtCrypto Updated 

TLDR: • Until ETH gets above the resistance trendline and the 21D & 50 D EMAs and retest the area as support, it is too risky to long. • Until ETH loses the support trendline (again) and the horizontal 1680 USD support level, it is not a short either. Background: • Since June of 2022 ETH is in an uptrend. • ETH has held an upward sloping support line since...

NewThoughtCrypto Updated 

TLDR: • If DYDX returns to fill the wick, or lower, it could be a swing long opportunity. Background: • Since May 2022 DYDX is trading in an accumulation range. Range low is at the 1$ level. Mid-range is at 1.65$ and the range high is at 2.7$. Range trading: • My basic rules of trading a range are: 1. Below the mid-range – Look for long...

NewThoughtCrypto Updated 

TLDR: Although I am not at all bearish on Bitcoin, I think that as traders we should be prepared for every eventuality. I listed the warning signs that may herald a bearish reversal and key level in which a reversal to the upside may be possible. This is a limited scenario. I don’t think a 10K Bitcoin is likely and there is no point is discussing such a...

NewThoughtCrypto Updated 

TLDR: Unfortunately, Fantom lost all bullish structure. The upside of this correction is that FTM’s price is good enough to DCA if you are a long-term investor. I provided the next support levels; in case you are interested. I charted three scenarios, two relatively bullish and one bearish scenario. I included two possible swing trade ideas. However, I...

NewThoughtCrypto Updated 

First, I would like to say that I don’t know anything about the fundamentals of this project. This is a chart analysis only. If you’re a fan of the project, don’t take it personally. RSR’s chart shows a lifetime downtrend. RSR pumped hard between October 2020 to April 2021 and since then it is in a downtrend. I can’t see a reversal sign on the chart. Since April...

NewThoughtCrypto

In my previous ETH idea, I expressed optimism about ETH’s chances of a bullish continuation. Although I am still bullish on ETH, I scrapped that trade because of the chop. On June 6th, ETH rejected lower prices and looked good to go for higher. However, now it is consolidating, and I cannot tell with confidence if it will go up or down. The way I see it we have...

NewThoughtCrypto Updated 

In my previous Bitcoin trading idea, I expressed my view that that 25,200$ is a strong support and that Bitcoin should bounce from there. I am revising this idea with a view for lower. The reasons I changed my mind are: 1. Bitcoin reached the proximity of this price level on June 5th and June 6th with a lackluster response. It is clear to me that the powers...

NewThoughtCrypto Updated 

• Ethereum has shown a lot of strength during the latest market correction. Not only relative to altcoins but relative to BTC as well (let me know if you want an ETH/BTC chart analysis). • Currently ETH consolidating in a triangle pattern. Volume was slowly dropping, and ETH kept banging on the trendline resistance and against the RSI resistance. Yesterday (June...

NewThoughtCrypto Updated 

Present situation: • Currently (June 6th, 07:00 UTC), Bitcoin is consolidation in a narrow range, between the 25,500 – 25, 800 USD levels acting as support and resistance. Bitcoin’s RSI is oversold on the LTF. IMO, either we finish the correction today or we may get a relief rally because bitcoin is oversold on the LTF. Is the Correction Finished? • IMO, BTC’s...

NewThoughtCrypto

ADA is looking bullish. Unlike most alts it did not completely lose its bullish structure even during the dips in the market. What I mean is that ADA is holding on to the upward trending line and doesn’t lose it for long on the higher TF. (Please read linked ideas) On the 4H TF, I see that the 0.38 USD level acts as local resistance and ADA tested it as support on...