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BITCOIN IS GROWING STEP BY STEP TECHNICAL ANALYSIS + TRADE PLANTechnical Analysis Ascending Triangle Formation The chart displays an ascending triangle pattern, indicating a bullish trend continuation. The price has been forming higher lows while maintaining a relatively flat upper resistance level, suggesting that buyers are gradually gaining strength. Key levels to watch: Resistance: The price is approaching the resistance at $93,143 and $100,000. Support: The ascending trendline acting as support is near $86,721. Indicators: VMC Cipher B Divergences: The indicator shows a continuation of bullish momentum with green dots suggesting buying signals. Bullish Divergence: This is a confirmation of positive momentum and suggests the current trend could continue, especially if it breaks resistance. Relative Strength Index (RSI): RSI is at 56.62, indicating that Bitcoin is neither overbought nor oversold. It suggests that there is still room for upward movement before entering overbought territory (RSI > 70). Money Flow Index (MFI): The MFI is in the green, at 56.02, showing a steady inflow of capital, which supports the bullish outlook. It is not in the overbought range, further indicating the potential for continued upside. Stochastic Oscillator: The stochastic indicator shows values of 77.28 (fast line) and 76.05 (slow line), both suggesting that the price is in the upper range. Though it's near the overbought zone, it isn't extreme enough to signal an imminent reversal. Volume The volume is increasing with each bullish move, indicating strong buying pressure and confirming that the trend is supported by market activity. Key Price Levels: Resistance Zone: $93,143 - $100,000 Support Zone: $86,721 Next Target: A breakout above the $93,143 resistance could target new highs around $100,000 or higher if the market sentiment remains bullish. Trading Plan Entry Strategy: Buy Signal: A break above the resistance level at $93,143 would be a strong buy signal, with the expectation of a continuation to the next target near $100,000. Alternatively, a retracement to the support level at $86,721 could provide a good entry for a long position if the price rebounds from this level, confirming the ascending triangle pattern. Stop Loss Strategy: Stop Loss: Place a stop-loss order below the most recent swing low, around $86,000, to protect the position in case of a breakout failure. This provides a good risk-to-reward ratio if the price does not hold above the support trendline. Profit-Taking Strategy: First Target: The first target for profit-taking should be near $93,143 (initial resistance). Second Target: A breakout beyond this resistance can target $100,000 and possibly new all-time highs (ATH). Trailing Stop: Consider implementing a trailing stop once the price moves in your favor, allowing the position to stay open while locking in profits if the market reverses. Risk Management: Position Sizing: Based on the risk tolerance, adjust the size of your trades to ensure proper risk management. For example, risking 1-2% of your total capital on a single trade is advisable. Review Market Sentiment: Always monitor broader market conditions and Bitcoin-related news for any sudden changes that may affect the trend. Conclusion The current chart signals a bullish continuation for Bitcoin, supported by the ascending triangle pattern, bullish indicators, and increasing volume. A break above $93,143 would confirm the next move towards $100,000. As always, it's important to monitor the market for any shifts and adjust your trading plan accordingly.
BINANCE:BTCUSDLong
by elfabiiani
Hey Trading Fam! ALGO at a Pivotal Moment – What’s Next?Hey trading family, let’s break this one down. Algorand (ALGO) looks ready for a potential move up to $0.26. From there, we could see a correction, but how deep could it go? Here’s what we’re watching: Scenario 1: A correction could take us back down to levels like $0.21 or even as low as $0.15 – stay sharp! Scenario 2: If $0.26 doesn’t hold as resistance, we could break higher and run all the way up to $0.42. This setup is worth watching closely. What’s your move here? Let’s trade smart and adapt to what the market gives us. Like, comment, and share your thoughts below to keep the conversation going! Got questions or your own analysis? Send me a DM – let’s connect. Mindbloome Trading // Kris Trade What You See.
KRAKEN:ALGOUSDLong
by Mindbloome-Trading
LTC | ALTCOINS | BIG Gainer OR Sinking Ship?LTC has been on my watchlist for many, many months - much to my annoyance. Compared to other altcoins such as DOGE, LTC is just not growing, and hasn't been for the better part of two years as it is unable to breakout above $110. This we see evidently when we pull up the DOGE chart in comparison, and the BTC chart to really get an idea of just how bullish we are - a sentiment that is just not showing p on the LTC chart. WHEN the TOTAL3 peaks out above BTC , altcoins would have completed their runs. (More on that subject here): We're still some time away from this; meaning that there is still hope for LTC. However, IF LTC can't move PAST these resistance zones I'd have to just face the facts and put it in the same boat as XRP and ADA. _______________________ BINANCE:LTCUSDT BINANCE:LTCBTC
by CryptoCheck-
1
XRP Breaks the $1 Barrier: Could $2.02 Be Next?A New Dawn for Ripple After years of waiting, CRYPTOCAP:XRP has finally shattered the elusive $1 barrier, signaling a potential resurgence for the cryptocurrency. This milestone, which comes after a three-year hiatus, was bolstered by strong fundamentals, market optimism, and improved sentiment surrounding Ripple’s ongoing legal battle with the SEC. XRP’s market cap surged by 10% to $60.45 billion, reclaiming its position above Dogecoin ( CRYPTOCAP:DOGE ). Yet, despite the celebration, CRYPTOCAP:XRP faces stiff competition from the meteoric rise of memecoins, which could stall its journey toward the $2 milestone. Let’s delve deeper into the technical and fundamental aspects driving XRP’s rally. The XRP Ledger: A Technological Marvel Launched in 2012, the XRP Ledger (XRPL) is a cornerstone of Ripple’s ecosystem. Its features include: - Low Transaction Costs: A negligible fee of $0.0002 per transaction. - Speed: Transactions settle in 3-5 seconds, making it one of the fastest blockchains. - Scalability: Handling 1,500 transactions per second (TPS). - Eco-Friendly Attributes: XRPL is carbon-neutral and energy-efficient. XRPL pioneered the first decentralized exchange (DEX) and supports custom tokenization directly within its protocol. With a reliable track record of closing 70 million ledgers since inception, the XRPL continues to demonstrate resilience and innovation. Live Price Data & Market Dynamics As of now, CRYPTOCAP:XRP is trading at $1.14, with a 24-hour trading volume of $9.75 billion. CRYPTOCAP:XRP has risen 1.35% in the last 24 hours, positioning itself as the 6th largest cryptocurrency with a live market cap of $64.92 billion. The circulating supply stands at 56.93 billion XRP coins, out of a maximum supply of 100 billion coins, reflecting a healthy distribution model. Technical Analysis: Symmetrical Triangle Breakout On the yearly chart, CRYPTOCAP:XRP has broken above the symmetrical triangle pattern, which coincided with the recent price surge to $1.13. This breakout has ignited bullish sentiment, supported by the following key indicators: 1. Relative Strength Index (RSI): Currently at 85, XRP’s RSI indicates overbought conditions, suggesting a potential short-term pullback. Traders should exercise caution while monitoring for consolidation. 2. Ichimoku Cloud Analysis XRP’s momentum is still in its infancy, as per the Ichimoku cloud. The next major resistance lies at $2.02, with the cloud projecting further bullish momentum if this level is breached. 3. Support and Resistance Levels Maintaining $1 as a solid support is critical. A failure to hold this level could trigger selling pressure, potentially leading to a retracement. Fundamental Catalysts Behind the Rally - Ripple vs. SEC Resolution: The market remains optimistic as Ripple inches closer to resolving its long-standing legal battle with the SEC. A favorable outcome could further boost investor confidence. - Growing Utility: XRP’s low transaction costs, speed, and scalability make it a preferred choice for cross-border payments and remittances, strengthening its fundamental value proposition. - Institutional Interest: Whales have been active in accumulating XRP, signaling confidence in its long-term potential. Tracking whale movements will be crucial in the coming weeks. The Path to $2.02 and Beyond XRP’s trajectory toward $2.02 hinges on its ability to sustain its current momentum. Here’s what traders and investors should watch: Market Sentiment:Positive news regarding Ripple’s legal case or broader adoption of the XRPL could propel XRP higher. Competition from Memecoins: With memecoins currently dominating the leaderboard, XRP must continue delivering on its fundamentals to stay relevant. -Long-Term Outlook: A $202 Dream? While the prospect of XRP reaching $202 seems far-fetched in the short term, the crypto market is known for its volatility and surprises. For now, patience and careful monitoring of key technical levels will be essential as XRP navigates its way through turbulent markets. With a strong foundation, a growing ecosystem, and renewed investor interest, CRYPTOCAP:XRP is poised for exciting times ahead. Whether it’s $2.02 or beyond, the journey promises to be a thrilling ride for CRYPTOCAP:XRP enthusiasts.
Long
by DEXWireNews
2
WAGYUSWAP IS ON THE MOVE - EXPECT UNEXPECTEDChart Overview Timeframe: 4-hour chart The price is trading within a square trading channel, indicating a consolidation phase. This could signal the market is in a period of indecision, with potential for either a breakout or breakdown. The price is currently approaching the lower boundary of the range, indicating that a bounce might be possible or further price testing may occur before any breakout. Key Levels Resistance: The price has been rejected multiple times near 0.0015419 and 0.0013976, creating a clear resistance zone. Support: The price is finding support near 0.0012548, a level it has tested recently and managed to bounce from, showing some strength in the market. Volume Volume Trend: The trading volume is currently lower compared to previous spikes, which typically signals lower market participation. This suggests the market is waiting for a catalyst (likely a breakout or a shift in sentiment) before it can decide on the next move. Indicators VMC Cipher B Divergences: This indicator shows some divergence between the price and momentum, hinting that the price may be losing some strength in its current trend, which could signal a potential reversal. RSI (Relative Strength Index): Currently at 55.5, the RSI is neutral, indicating there is no extreme overbought or oversold condition. It is waiting for more price movement to confirm whether the trend will continue or reverse. Stochastic Oscillator: The stochastic is at 27/71, suggesting a slightly oversold condition. This could indicate a potential buying opportunity if the price tests the support again or breaks higher. Trading Plan Scenario 1: Breakout Above Resistance (Bullish) Entry Point: If the price breaks above 0.0015419 and holds above it, this could indicate the start of an uptrend. Target: The next resistance zone lies around 0.00166. This could be your first target. Stop Loss: Place the stop just below the previous support level of 0.0012548 (around 0.0012) to limit risk if the breakout fails. Scenario 2: Bounce from Support (Bullish Reversal) Entry Point: A potential entry could be near the 0.0012548 support level if the price shows signs of bouncing off this zone with higher volume or confirmation from the RSI or stochastic oscillators. Target: The target would be the 0.0013976 resistance level, with a potential continuation towards 0.0015419. Stop Loss: Place the stop just below 0.0012 to protect from a further breakdown if the support level fails. Scenario 3: Breakdown Below Support (Bearish) Entry Point: If the price breaks below 0.0012548 and shows no signs of reversal, this could indicate a continuation of the downtrend. Target: The next support level lies around 0.001166. Stop Loss: The stop should be placed just above 0.0013976 resistance level to protect from any unexpected upward movement. Risk Management Position Sizing: Adjust your position size based on your risk tolerance and stop loss distance. Never risk more than 2% of your account balance on a single trade. Monitor Volume: Ensure that any breakout or breakdown is accompanied by an increase in volume, which helps confirm the validity of the price movement. Additional Considerations Watch for the broader market trends as cryptocurrency markets can be highly correlated. Look for any major news or events that could affect overall market sentiment. Keep an eye on the broader trend, using higher timeframes like the daily chart for confirmation.
Long
by elfabiiani
Phemex Analysis #36: OM Surge 325% in 5 Days! What's Next?PHEMEX:OMUSDT.P has taken the cryptocurrency world by storm, soaring over 325% in just five short days. This remarkable surge can be attributed to the successful launch of its mainnet and the strategic partnership with Google Cloud as a validator. These developments have significantly enhanced the project's security, scalability, and overall appeal to investors. A Bullish Outlook As the highest market capitalization coin in the Real World Assets category, OM (MANTRA) has demonstrated exceptional strength. If the current bullish momentum persists, fueled by positive market sentiment and increased investor interest, the price could continue its upward trajectory. However, it's crucial to keep an eye on Bitcoin's price movements, as broader market trends can influence the performance of individual cryptocurrencies. A Potential Pause Given the rapid ascent, a short-term consolidation or pullback could be on the horizon. As some investors may choose to take profits, the price could retrace to the $3.4 or $3.2 support levels. These levels could present attractive buying opportunities for those seeking to accumulate OM at a discounted price. A Cautious Approach While the current outlook for OM is bullish, it's essential to remember that the cryptocurrency market is inherently volatile. A sudden shift in market sentiment or unforeseen events could lead to a sharp decline. If the price breaks below the $3.2 support level, it could potentially drop further to $2.2 or even $1.6. Conclusion OM's recent surge highlights the immense potential of blockchain technology and its real-world applications. However, it's crucial to approach the market with a balanced perspective and be prepared for both upside and downside scenarios. By staying informed and making prudent investment decisions, investors can navigate the volatile cryptocurrency market and position themselves for long-term success. Tips: Elevate Your Trading Game with Phemex. Experience unparalleled flexibility with features like multiple watchlists, basket orders, and real-time adjustments to strategy orders. Our USDT-based scaled orders give you precise control over your risk, while iceberg orders provide stealthy execution. Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
by Phemex
1
Velas with BIG UPDATE: VELAS 2.0 IS A GAME CHANGER IN CRYPTOTechnical Analysis for Velas (VLX) Velas 2.0 represents a significant upgrade to the Velas blockchain, enhancing its scalability, security, and user experience. This update introduces several key features: Enhanced Performance: Velas 2.0 offers improved transaction throughput and reduced latency, enabling faster and more efficient operations. Advanced Security Measures: The update incorporates robust security protocols to safeguard user assets and data against potential threats. User-Friendly Interfaces: Velas 2.0 provides intuitive interfaces for both developers and users, simplifying interactions with the blockchain. Expanded Ecosystem Support: The upgrade facilitates seamless integration with various decentralized applications (dApps) and services, broadening the Velas ecosystem. Price Action & Trend: Current Trend: The chart indicates that Velas (VLX) has been in a descending channel, with price movement within this range. It appears to be moving between resistance and support levels. Resistance & Support Levels: Key Resistance Levels: The resistance levels are noted at around 0.02700 and 0.02517, which have proven to be significant barriers in the past. Key Support Levels: Support is identified in the range around 0.01400, with a consolidation zone suggesting strong buyer interest near this level. Indicators: VMC Cipher B Divergences: The VMC Cipher B indicator suggests that price might be moving in a more stable range or could potentially reverse if further divergence is observed. Currently, the signal is showing some signs of bullish divergence, meaning there might be a potential price breakout to the upside soon. RSI (Relative Strength Index): The RSI value is currently at 57.34, indicating that the asset is in the neutral zone. It is neither overbought nor oversold, suggesting that there could still be room for price movement in either direction. If the RSI approaches 70 (overbought), it may signal a potential reversal downward. Stochastic Oscillator: The Stochastic Oscillator is at 57.26, which is also in the middle of the scale, confirming the neutral sentiment. If this indicator moves above 80, it could indicate overbought conditions, while a drop below 20 might signal an oversold condition and potential price reversal to the upside. Current Momentum: The ascending channel suggests potential upward momentum, particularly if price breaks the resistance level near 0.017971. Market Sentiment: Given the announcement of Velas 2.0, there could be positive news driving the price surge, and with continued positive sentiment, further movement towards 0.02500 could be expected. Trading Plan: Bullish Scenario: Entry: A break above the resistance zone of 0.017971 could be considered a signal for entering a long position. The next potential target would be the 0.02000 resistance level. Take Profit: Set the first take-profit target around 0.02500. A second target could be near the 0.02700 zone, depending on market momentum. Stop Loss: Place a stop-loss just below the support level of 0.01400 or the recent swing low to protect against significant losses. Bearish Scenario: Entry: If the price fails to break above resistance and starts moving back down towards 0.01400, a short position could be considered. Monitor the RSI and Stochastic Oscillator for oversold conditions as confirmation. Take Profit: In the case of a bearish trend, aim for take-profit targets near 0.01195 and 0.01000. Stop Loss: Set the stop-loss just above the previous resistance level around 0.017971 to minimize losses. Neutral Scenario: In a scenario where price fluctuates between the support and resistance levels, consider a range trading strategy. Buy near the support zone and sell near the resistance zone, using shorter timeframes for better entry and exit points. Fundamental Catalyst: The Velas 2.0 announcement is a key event that could lead to a potential price surge. Monitor any news or updates from the project, as these may drive the price upward, influencing both short-term and long-term movements. This analysis and plan should be used to guide your trading decisions, but it's essential to regularly reassess the market and adjust your strategy accordingly, especially with the developments in the cryptocurrency space.
CRYPTO:VLXUSDLong
by elfabiiani
1
INJ SWING LONG IDEA - ALTCOIN SEASON 2024-2025INJ experienced significant gains during the 2023-2024 altseason, making it a smart move to watch this coin for the 2024-2025 altseason. Technical Analysis: The price ran the weekly swing liquidity during the August 4th dump. It wicked but couldn’t close below, signaling bullish strength. Following this, the price broke both the daily and weekly bearish structure, turning bullish on two higher timeframes. Recently, the bearish trendline responsible for the downtrend since spring 2024 was broken with strong momentum and a confirmed close above. This indicates to me that the price aims to move higher. I expect the price to potentially retrace into the weekly demand zone, hitting the optimal trade entry (OTE) level and possibly retesting the broken trendline. I will be looking for lower timeframe (LTF) confirmations within the weekly demand zone if the price reaches that level. SL: $13 TP1: $28 TP2: $41 TP3: $53
Long
by UA_CAPITAL
A close up of the bullflag forming above c&h rimline on total2The red line is the rimline of the Total2 chart’s cup and handle pattern that I made a post about a few days ago and will link at the bottom of this post. I thought it would be a good idea to include a close up of this bull flag that is forming with that redline mostly serving as support here so it would be easier for people to see when the breakout from the cup and handle will be validated. Once we have solidified the red line as support long enough we will validate the breakout from the cup and handle. One thing that will greatly increase the probability that w will validate that breakout is by first valdating the breakout up from this smaller bullflag pattern that has been forming here, you’ll notice that we are also about to have a golden cross (when the orange line crosses above the blue line ). We are now just one to two days away max from that cross happening and I would not be surprised if the pump up from the bullflag that validates it’s breakout occurs the same day the golden cross occurs, as I have already seen that happen immediately on the golden cross in two other chart recently, and it usually tends to do so once we have entered the parabolic phase of the bull market. If we do we will simultaneously validated both the breakout from this bull flag and mostly likely validate the breakout from the more macro timeframe Cup and handle pattern as well. I will link the chart I posted a few days ago showing the full cup and handle pattern down below. We’ve already seen a slight bit of a precursor already in the market but once the cup and handle validates its breakout, it is officially alt season. *not financial advice*
CRYPTOCAP:TOTAL2
by DrDovetail
High Potenzial Invest Flow/EurAfter years and month of downtrend, now the important volume comes in and also the trendline broke through with this massiv volumen. In my eyes a no brainer, now investing some money and in the next month to years in combination with the industry / german / europe crisis it´s a very good way to diversify your money. The potenzial is up to x 40 maybe a new higher high x 70, but with a easy attitude and a realistic mind first realization from x8 - x10 because the volatility of crypto assets and then buying back with cost average. gl & hf
Long
by dipl_ing