Cryptoworld correlate with bitcoin. If bitcoin goes up, alts go up (and down), if bitcoin goes down alts go down.
If you see altcoins volatility with low temporal correlation between altcoins price increase and alanmaster beginn to fibrillate you know that you can give full gas, put all your tether on the table and go long.
If this is not the case and the market is bearish then you have to finely tune your entries if you want profit from some swings.
When I decide to leave my adorate theter for some ethereum (the crypto that I like more to trade) because I see a good entry point I search confirmation in other major crypto currencies.
1) Do I see a support/demand zone?
2) There is a possible trendline?
3) Can I identify a reversal structure (falling wedge for example)?
4) Fibonacci ( I don't use it a lot)?
5)There is a magic point where all these lines and levels intersecate?
6) Do I find a confirmation in more cryptos?
If yes wins then I try to catch the falling knive.
the same when i decide to short
If the story that I'm telling works then I should give my opinion on the reversal point
1) Important supports?
Bitcoin.
In my opinion bitcoin want to retest the september`s top at around 4900 (1st dogma). I suppose it will not go lower than 4900 (2nd dogma).
From the basis of the todays candle, the price should decrease of almost 17% to reach 4900.
Ripple and NEO have very strong supports on the daily chart for the same percentual of retracement. IOTA a little bit lower.
Do I see a potential trendline. correlation with supports, levels, reversal structures?
ripple has a nice positive trendline. this trendline will intersecate the support of the falling wedge, and my strong support (0.36cts) the 18th of july.
For NEO I see that the support of the negative channel, will intersecate the strong support (22.88) and the 1.41 extension the 18th of july.
for bitcoin the support of the falling wedge will reach 4900 a little bit later than 18th july . The trendline is for this magical date a little bit lower. In my opinion this trendline will be first touched around september/october (axis of bitcoin have to change before to touch a trendline or it will break it after first rebound). 1.41 extension is also around 4900
for IOTA I see that a positive trendline, strong support and negative trendline-support will intersecate ain the second half of july at 0.66cts.
Resuming: We will see another 20% contraction of the cryptomarket value before the next relevant bounce. This bounce should arrive around 18th of july.
If you have an idea of why this should arrive for this data please share in the comments. It would further support this idea.
If you see altcoins volatility before this date, the idea is invalidated.
If the bitcoin's positive trendline is broken the idea is also invalidated.
Cheers BIO
If you see altcoins volatility with low temporal correlation between altcoins price increase and alanmaster beginn to fibrillate you know that you can give full gas, put all your tether on the table and go long.
If this is not the case and the market is bearish then you have to finely tune your entries if you want profit from some swings.
When I decide to leave my adorate theter for some ethereum (the crypto that I like more to trade) because I see a good entry point I search confirmation in other major crypto currencies.
1) Do I see a support/demand zone?
2) There is a possible trendline?
3) Can I identify a reversal structure (falling wedge for example)?
4) Fibonacci ( I don't use it a lot)?
5)There is a magic point where all these lines and levels intersecate?
6) Do I find a confirmation in more cryptos?
If yes wins then I try to catch the falling knive.
the same when i decide to short
If the story that I'm telling works then I should give my opinion on the reversal point
1) Important supports?
Bitcoin.
In my opinion bitcoin want to retest the september`s top at around 4900 (1st dogma). I suppose it will not go lower than 4900 (2nd dogma).
From the basis of the todays candle, the price should decrease of almost 17% to reach 4900.
Ripple and NEO have very strong supports on the daily chart for the same percentual of retracement. IOTA a little bit lower.
Do I see a potential trendline. correlation with supports, levels, reversal structures?
ripple has a nice positive trendline. this trendline will intersecate the support of the falling wedge, and my strong support (0.36cts) the 18th of july.
For NEO I see that the support of the negative channel, will intersecate the strong support (22.88) and the 1.41 extension the 18th of july.
for bitcoin the support of the falling wedge will reach 4900 a little bit later than 18th july . The trendline is for this magical date a little bit lower. In my opinion this trendline will be first touched around september/october (axis of bitcoin have to change before to touch a trendline or it will break it after first rebound). 1.41 extension is also around 4900
for IOTA I see that a positive trendline, strong support and negative trendline-support will intersecate ain the second half of july at 0.66cts.
Resuming: We will see another 20% contraction of the cryptomarket value before the next relevant bounce. This bounce should arrive around 18th of july.
If you have an idea of why this should arrive for this data please share in the comments. It would further support this idea.
If you see altcoins volatility before this date, the idea is invalidated.
If the bitcoin's positive trendline is broken the idea is also invalidated.
Cheers BIO
Comment:
Iota seems to be the stronger. As usual when iota go up is green wave. Iota is also entering in a indecisive zone. Look how much time price changed direction in this rectangle zone.
Iota seems to be the stronger. As usual when iota go up is green wave. Iota is also entering in a indecisive zone. Look how much time price changed direction in this rectangle zone.
Comment:
Neo could find some resistance now. I ask me if this last green wave is a pre pump buy (as shown in the first green rounded area).
Moreover look at the nice bullish divergence between acc/distribution and price. This could speak a lot for a healty correction. Price will likely growth in the next months.
Interestling the negative trendline from the last top has been broken. Neo will try in the next time to reach back the top of the downward channel
Neo could find some resistance now. I ask me if this last green wave is a pre pump buy (as shown in the first green rounded area).
Moreover look at the nice bullish divergence between acc/distribution and price. This could speak a lot for a healty correction. Price will likely growth in the next months.
Interestling the negative trendline from the last top has been broken. Neo will try in the next time to reach back the top of the downward channel
Comment:
Ripple managed brillantly to stay inside the demand zone.
It is always inside the descending tunnel.
Acc/distribution show accumulation with descending price (= correction). Rsi is down and seems that the downward cycle could be over (rsi lows are stable with descending rsi tops = possible strong upward wave incoming). The support trendline has been broken back
It is always inside the descending tunnel.
Acc/distribution show accumulation with descending price (= correction). Rsi is down and seems that the downward cycle could be over (rsi lows are stable with descending rsi tops = possible strong upward wave incoming). The support trendline has been broken back
Comment:
The chart
The chart
Comment:
In summary.
Situation of bitcoin is not so clear but i can see that there are some signs for a healty altcoin market.
There is still some correlation between altcoin price increase, what actually don’t support a transfer of the trades from the usd pair to btc/eth pairs ( higher trade volume in the btc/eth favour altcoin volatility, which is the first sign of a stabilisation or new increase of btc price)
Remember altcoins don’t lie. When speculation time come back, altcoin will pop again one after the other.
Situation of bitcoin is not so clear but i can see that there are some signs for a healty altcoin market.
There is still some correlation between altcoin price increase, what actually don’t support a transfer of the trades from the usd pair to btc/eth pairs ( higher trade volume in the btc/eth favour altcoin volatility, which is the first sign of a stabilisation or new increase of btc price)
Remember altcoins don’t lie. When speculation time come back, altcoin will pop again one after the other.
Comment:
The most important area for bitcoin is now
The most important area for bitcoin is now
Comment:
Iota
Forming a bullish chypher . D point of the cypher around 1.02 work well with 0.61 retracement of last upward movement.
Forming a bullish chypher . D point of the cypher around 1.02 work well with 0.61 retracement of last upward movement.
Bitcoin bounce out of the descending tunnel. The problem is that there is 2 important trendline above. The old ascending trendline who supported all the falls since december and the descending trendline from december top and last top. The rectangle shows that we entered in the previous demand zone, which could now potential turn out in supply zone. A break out of this zone can bring bitcoin higher. If it find resistance it will go down for a bit.