Small hiatus past weeks but we’re back at it again.
tldr:
This is not a price to FOMO buy. In fact if you didn't take profit near the last top now is a good time to do so.
BTC
Last analysis we predicted a test to 42k which played out very nicely. We managed to get in the market on the buy signal provided by our strategy depicted in the chart. We hit our first target at 42k and our second target is the 45k-47k area.
The weekly trend is still considered bearish according to our system. Price is about to test resistance so it would not be wise to call for the next bull run here. The bullish case on the weekly chart would be a break of 52k. The bearish case would be rejection from current resistance and to cause maximum pain it could test below 29k. Another scenario would be a higher low formation within the last developed price range between 42k-29k.
We are a bit weary this might be a FOMO top where inexperienced investors rush in to catch the next bull run. We notice a lot of bullish sentiment on the social channels while the market is still in a corrective state.
BTC.D is creating an ascending triangle, we’re waiting to see it break above 50% or break down to test the lower end of the range around 40%. The latter would be considered bullish for altcoins and the market in general.
ETH
Ethereum is currently testing liquidity above 2900, it might squeeze to 3400. There is no reason to be completely bullish just yet because the market is still correcting on a larger scale. However this is a good time to start taking some profits if you are invested in ETH.
ETHBTC broke up from the descending triangle depicted in the chart. It might test 75000 sat and start ranging. We have yet to see how price will react on the red order block in the chart.
USDT.D/DXY
USDT.D coming down nicely from the fakeout high it formed above 5.00%, which correlates nicely with the bullish movement of the market in the past few weeks. For now this is considered bullish for crypto.
The DXY is still testing the resistance of the range depicted in the chart. A weekly close above 93, as stated in our previous analysis as well, will be bearish for the global market.
TOTAL1/TOTAL2
Finally something to say about the TOTAL, although not much.
TOTAL1 is within the distribution range, we don’t expect it to climb much higher. TOTAL2 however, still has some room to go up above the 1 Trillion indicating a small alt season yet to come.
Did you guys make any profit or want our take on any coins? Please leave a comment+like and we'll review them!
~Trendtracers team
tldr:
This is not a price to FOMO buy. In fact if you didn't take profit near the last top now is a good time to do so.
BTC
Last analysis we predicted a test to 42k which played out very nicely. We managed to get in the market on the buy signal provided by our strategy depicted in the chart. We hit our first target at 42k and our second target is the 45k-47k area.
The weekly trend is still considered bearish according to our system. Price is about to test resistance so it would not be wise to call for the next bull run here. The bullish case on the weekly chart would be a break of 52k. The bearish case would be rejection from current resistance and to cause maximum pain it could test below 29k. Another scenario would be a higher low formation within the last developed price range between 42k-29k.
We are a bit weary this might be a FOMO top where inexperienced investors rush in to catch the next bull run. We notice a lot of bullish sentiment on the social channels while the market is still in a corrective state.
BTC.D is creating an ascending triangle, we’re waiting to see it break above 50% or break down to test the lower end of the range around 40%. The latter would be considered bullish for altcoins and the market in general.
ETH
Ethereum is currently testing liquidity above 2900, it might squeeze to 3400. There is no reason to be completely bullish just yet because the market is still correcting on a larger scale. However this is a good time to start taking some profits if you are invested in ETH.
ETHBTC broke up from the descending triangle depicted in the chart. It might test 75000 sat and start ranging. We have yet to see how price will react on the red order block in the chart.
USDT.D/DXY
USDT.D coming down nicely from the fakeout high it formed above 5.00%, which correlates nicely with the bullish movement of the market in the past few weeks. For now this is considered bullish for crypto.
The DXY is still testing the resistance of the range depicted in the chart. A weekly close above 93, as stated in our previous analysis as well, will be bearish for the global market.
TOTAL1/TOTAL2
Finally something to say about the TOTAL, although not much.
TOTAL1 is within the distribution range, we don’t expect it to climb much higher. TOTAL2 however, still has some room to go up above the 1 Trillion indicating a small alt season yet to come.
Did you guys make any profit or want our take on any coins? Please leave a comment+like and we'll review them!
~Trendtracers team
You can find more Technical Analysis and shared positions in our community, if you’re interested in hearing our experiences and learning more about our indicators along with the risk management we apply, feel free to join here: discord.gg/CsB9JtU
