NewThoughtCrypto

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...

NewThoughtCrypto

• I am still expecting BNB to make a lower low. However, it looks as if a relief rally is in the cards for next week. We need to watch out for the ISM services PMI announcement tomorrow (June 5th) but otherwise I think we are short-term bullish. • Following BNB’s PA, you can see that the 308 USD horizontal level is meaningful. I mean that if it flips to...

NewThoughtCrypto Updated 

Analysis: Since the 9th of November ETH is in an uptrend. ETH has found support on this upward sloping trendline four times on: • November 9th • November 21st • December 18th • March 10th On previous pullbacks, in December and March, ETH found support between the 0.5 and the 0.618 retracement. It stands to reason that this pullback will find support at those...

NewThoughtCrypto Updated 

In a previous post I shared my concern that BNB may not hold the up trending support line. Current Situation: ATM it looks as if BNB is breaking the diagonal trendline support. If you are in a short, congratulations. Regardless, it seems like a good time to look for a long entry. Entry Levels: To determine my entry, I will use Horizontal support levels and the...

NewThoughtCrypto Updated 

Basic Premise: My basic premise is that Bitcoin is in an uptrend. I consider the recent pullback as a healthy correction, nothing more. Support and Reversal Zone: ATM, the main challenge is to identify the best probable entry for continuation to the upside. Broadly, the possible reversal zone is between 25,750 USDT to 23,340 USDT for these reasons: 1. 25,750:...

NewThoughtCrypto Updated 

The short and long of it is: Probably not. Current Situation: • Admittedly, ETH looks somewhat better than Bitcoin. However, if you are not long from the range lows, now is definitely not the time to long. • ETH has been in a range since May 8th. During the month of May ETH tried to break out of the range three times (including today) without success. • Common...

NewThoughtCrypto Updated 

In my previous TV idea, I posted my concern that ADA is losing the upward sloping trendline support. Although ADA did lose the trendline, it is stubbornly clawing it’s way back. The fact that ADA did not lose its bullish structure is a good sign for a possible future price increase. ATM, it is not yet clear if the overall correction in the crypto market is over....

NewThoughtCrypto Updated 

Bitcoin has been trading in a range since May 11th until Yesterday May 27th. The range low was at 25,800 USD and the Range High was at around 27,700 USD. Yesterday, May 27th, During the NY session, Bitcoin broke through the range high. The question we have to face is now, what do we do? Should we go long or short? IMO, the answer for now is to wait until the NY...

NewThoughtCrypto Updated 

Current Status: Yesterday, May 27th, ETH broke the range high. The range high of roughly 1885 has been holding ETH back since May 10. The Question is what to do now? Basic Assumption: My basic premise is that the correction is over, and that ETH will not get to the range low in the near future. Of course, anything can happen, and the next few days will show if...

NewThoughtCrypto Updated 

Fantom had an amazing run between November 22nd until February 23rd . In 73 days Fantom’s price increased by almost 300%. However, In the last four months (116 days) FTM is in a downtrend. The chart structure emerging from this correction is of a Triangle. The question is will Fantom hold support on the Triangle’s diagonal support line, or will it break to the...

NewThoughtCrypto Updated 

Since November 9th until February 8th, AGIX made an astonishing 1746% profit in three months (91 days). Since the high of February AGIX has been in a correction. The structure emerging out of that correction is a Falling Wedge which is a bullish reversal pattern. Also, although AGIX is in an overall correction, it hasn’t even touched the 0.382 Fib level (pulled...

NewThoughtCrypto Updated 

• Lately it seems that the AI narrative is gaining traction again. Fetch could be one of the crypto assets that stands to benefit from said hype. • Fetch has been in a downtrend since February 8th, and it looks like it is forming a double bottom with multiple bullish divergences. • FET’s double bottom neckline is at the 0.285 USD level . Breaching the neckline...

NewThoughtCrypto

Basic Assumptions: Before I present my TA for your consideration, I would like to state my basic assumptions: 1. Price is efficient. Any imbalance in Price must be resolved before further continuation. 2. There is liquidity, short stops, Between 27,240 – 27,700. 3. The market is designed to play with our feeling and uncertainties. 4. The current...

NewThoughtCrypto Updated 

Since December 22nd ADA is moving in an upward sloping channel. It has found support on the lower boundaries of the channel in March 9-12 and lately on May 8-15. Notice that ADA tends to leave wicks below the trendline. ATM it is not clear if ADA will hold the channel support or fail. To be honest, much depends on BTC which is at resistance. Therefore, I have two...