Ethereum (ETH) has been in a downtrend since November 2021. The price has been respecting the descending trendline and making lower highs and lower lows. However, the price recently broke out above the trendline and formed a three drives pattern. The descending trendline: The descending trendline is a bearish pattern that is characterized by two converging...
AEVO is a new cryptocurrency that launched on Binance on March 8, 2023. The price has been trading in a bullish pattern since its launch, forming a descending triangle and a double bottom pattern. The descending triangle: The descending triangle is a bearish pattern that is characterized by two converging trendlines, one connecting lower highs and the other...
ZEC (Zcash) is a privacy-focused cryptocurrency that has been trading in a bullish trend for several months. The price has been respecting the ascending trendline and making higher lows, but it has been unable to make new highs. The head and shoulders pattern: The recent breakdown below the ascending trendline and the formation of a head and shoulders pattern...
0x (ZRX) is a decentralized exchange (DEX) protocol that allows users to trade tokens on the Ethereum blockchain. 0x has been trading below $0.5 for an extended period, forming a massive accumulation zone. The price recently broke out of this zone and reached a high of $1.00. It has since retraced and retested the $0.90 level and the upper trendline of the...
BONK is a Solana-based meme coin that has been gaining popularity in recent weeks. The price of BONK has been on a tear, rising from $0.00000001 to $0.0000023 in a matter of days. After reaching a high of $0.0000023, BONK experienced a pullback and retested the 4-hour upper resistance trend line. This retest could be a sign that BONK is ready for another leg...
Bitcoin Cash: History Repeating Itself? Bitcoin Cash (BCH) is a fork of Bitcoin that was created in 2017. BCH has a history of forming long sideways patterns, followed by sharp breakouts. The pattern: Sideways accumulation: BCH typically spends 200-300 days in a sideways accumulation pattern. Breakout: After the accumulation phase, BCH breaks out of the...
Bitcoin (BTC) has experienced a rapid surge in price over the past few weeks, rallying from $37,000 to $44,000. This bullish move has left a significant open imbalance on the chart, which could lead to a corrective move down to fill the imbalance. What is an imbalance? In market structure analysis, an imbalance is created when there is a large volume of orders...
WLD (Wild) is a decentralized exchange (DEX) that allows users to trade cryptocurrencies without the need for a centralized intermediary. WLD has been trading in a bullish pattern on the 1-hour time frame, which suggests that it is currently in the manipulation phase of an accumulation, manipulation, and distribution (AMD) cycle. The AMD cycle: The AMD...
ILV (Illuvium) is an open-world RPG game built on the Ethereum blockchain. The game allows players to capture and battle creatures called Illuvials, which can then be traded or used in battles. ILV has been exhibiting a repeating pattern on the chart, which could be a sign of a potential breakout. The pattern: Descending channel: ILV has been trading in a...
Dogecoin (DOGE) has been one of the most talked-about cryptocurrencies in recent years. Its meteoric rise in 2021, fueled by Elon Musk's tweets and retail investor enthusiasm, captured the attention of the entire financial world. Is history repeating itself? Looking at the DOGE/USDT chart, we can see a striking similarity between the current price action and the...
VeChain (VET) is a blockchain platform that aims to improve supply chain management and traceability. The VET/USDT trading pair has been exhibiting fractal patterns on the daily chart, which can be used to identify potential trading opportunities. Fractal Analysis: Repeating patterns: The VET/USDT chart has been forming a series of repeating patterns, such as...
Bitcoin (BTC) has recently broken its all-time high (ATH) of $64,800, reaching a new high of $68,789. This has led many to believe that there is no more resistance ahead and that the price will continue to rise indefinitely. However, a closer look at the chart reveals that there is a significant resistance level at $90,000. Using upper resistance trend...
Fractal patterns are recurring patterns that appear at different scales on a chart. They can be used to identify potential support and resistance levels, as well as trend reversals. This article will analyze the OP/USDT chart using fractals and other technical indicators to identify potential trading opportunities. Fractal Analysis: Ascending Channel: OP/USDT...
Shakeout: PEPE recently made a sharp decline, breaking through the lowest level on the chart. This movement was probably artificially created to force out weak hands and leveraged traders. Double bottom: After the shakeout, PEPE formed a double bottom pattern. This pattern often indicates a trend reversal and a possible price increase. Liquidity manipulation: A...
XRP, like many other cryptocurrencies, has experienced significant fluctuations over the past few years. In this article, we will analyze XRP's behavior from 2018 to the present, focusing on the bull market that started in December 2020. Descending Channel (2018-2020) From the summer of 2018 to December 2020, XRP was in a descending channel. This period was...
Meme coins are a type of cryptocurrency that are often based on internet memes. They are typically created as a joke or for fun, but some meme coins have gone on to achieve significant success. Look closely on WEN Dogecoin is the most famous meme coin, and it has inspired a number of other meme coins, including Pepe and Floki. Pepe the Frog is a cartoon frog...
The triangle pattern is a popular chart pattern that is often used by technical analysts to identify potential breakout opportunities. However, traders should be aware that the triangle pattern can also be a trap for unsuspecting beginners. Why the Triangle Pattern is a Trap One of the reasons why the triangle pattern can be a trap is that it is a very...
Bitcoin Halving: What It Is and Why It Matters Bitcoin halving is an event that occurs every 210,000 blocks (approximately every 4 years) where the block reward for mining Bitcoin is cut in half. This is programmed into the Bitcoin protocol and has a significant impact on the BTC price. Why Halving Leads to Growth Reduced Supply: Halving cuts the number of...