*9 Years in Trading! *7 years in Crypto *Certified Technical Analyst *Record Holder of Most liked Bitcoin Chart on Tradingview. *Consistent updates on Markets and Trade Setups *No Bias *All-time Top Author on various assets and index charts globally. *Very Active Community during both bull and Bear Market
Let's get to the chart! In my last USDT Analysis, I suggested you all take positions in Alts and BTC as USDT.D was pointing towards some bearish behavior. All of my altcoins are above 12% to 20% As a result, the index got rejected from the red resistance zone after printing a high of around 5.24%. It has been moving sideways for the last 47 days. And looks like it's finally getting weaker.
I'll suggest you keep an eye on the blue and Red MA (21 and 50) on Daily! A crossover below 50 MA by 21MA will trigger roughly 8 to 12 weeks of rallies throughout the market. BTC is moving with good volume along with many altcoins. Once we see a break above the 46K level, It's highly likely we can see some fireworks in the second quarter of this year. For now, it's better to get into positions on retest because of low risk and high reward here. There is much more information in the chart, do observe and let me know in the comments if you find it!
Invalidation:- Only a close above 5.14% or the red resistance line will invalidate this chart.
DYOR before taking any trades, I am not a financial advisor. What do you think? Do let me know and hit the like button.
Thanks for your effort. However, havent seen you upload idea about scalping these few day.
Cryptorphic
⋅
@ratanaerss66, The market is not in favor my friend. People are simply losing money these days on both sides.
ratanaerss66
⋅
@Cryptorphic, yeah, however Luna is still strong. While BTC drop, Luna still maintain its postion 95-100+$. Maybe it is the best coin for scalping at the moment?
ratanaerss66
⋅
@Cryptorphic, btw, i really like your idea in both swing trade and scalp. Thanks