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50wma

$BTC Tests 50WMA - Line in the Sand for BullsIt’s only Tuesday, everyone RELAX. Still a long way from a Weekly Close below the 50WMA for CRYPTOCAP:BTC RSI is at the Liberation Day lows, and you know what happened after that. Note: this is the shallowest pullback to the 50WMA all cycle for bitcoin, which is in-line with late cycle behavior. In other words, this correction won’t take as long either. We could see a Weekly Close below the 50WMA to shake everyone out, then have a bullish engulfing the following week to send us to the long awaited promise land we call VALHALLA. In the small chance bulls cannot recover from this, below is a link to my 50WMA analysis that I put out back in February before everyone ran with my work. Stay vigilant folks.
INDEX:BTCUSD
by jonnieking
$BTC Bulls Fight Back With Weekly CloseNot sure how I continue to amaze myself, but I do 🤓 Notice how those MMs respected my DANGER ZONE POI to the dollar? Thankfully CRYPTOCAP:BTC did not close the Week outside the DZ. The battle between Bulls and Bears is FIERCE 🔥 Bulls cannot afford another blue weekly close. If so, the 50WMA retest ~102k will be inevitable. Bulls need to reclaim and close this upcoming week above the 20WMA and .236 Fib A close ~$116k would be super bullish. That should be enough ammo to spark the long awaited parabola that UpTober has historically brought us.
INDEX:BTCUSD
by jonnieking
$TOTAL Crypto Market Cap Incredible Weekly Close!The Crypto CRYPTOCAP:TOTAL Market Cap showed incredible resilience after nuking ~25% this week. Closed the Week just below the WEMA9 at $3.86T, but above the .236 Fib and stayed cleared of the DANGER ZONE ⚠️ Notice that wick all the way down to the 50WMA where it bounced literally right off the trendline breakout I drew back in July. Those MMs are really respecting my TA these days huh 🤓 This dump covered the 50% Gann level retrace, which give me confluence that the hardest part of behind us. Bears weren't even able to form a Bearish Engulfing candle. Next up Bulls need to reclaim the 9WEMA as mentioned in the previous post.
CRYPTOCAP:TOTALLong
by jonnieking
$MSTR Must Close This Week Above the 50WMA Or Else...The MicroStrategy chart is the only top signal that is somewhat cause for concern at the current moment. You can see NASDAQ:MSTR has closed the past several weeks below the 50WMA, which signaled the start of the bear market last cycle. Having said that, it has had a bullish rally this week and is trading above the 50WMA once again. MSTR must close the week above this level, otherwise the stock could be in for a much deeper correction, which could negatively affect CRYPTOCAP:BTC in October. Where have you heard that October prediction before? Coincidence? 🥸
NASDAQ:MSTRLong
by jonnieking
$TOTAL3 / $BTC More Confirmation for Alt Season RotationWe already saw this pattern play out with CRYPTOCAP:TOTAL2 / CRYPTOCAP:BTC and now we have it with CRYPTOCAP:TOTAL3 confirming the rotation into smaller caps. 4th consecutive Weekly close above the 50WMA. Notice the Bullish Divergence with the RSI. I’d like to see a few closes above this trend line for added confirmation, but I’m confident we’ve changed the trend. Note CRYPTOCAP:OTHERS is not there yet, hence why its BTC -> ETH -> Large Caps (SOL).
CRYPTOCAP:TOTAL3ESBTCLong
by jonnieking
$BTC.D On the Cusp Of Breaking Down - What to WatchNothing too exciting to write home about for the Weekly Closes today, but ₿itcoin Dominance shows continued signs of breaking down, now closing the past 2 weeks below the 50WMA. If we get one more decisive Weekly close beneath it, I’d feel very comfortable calling Alt Season. BTC.D is also on the verge of breaking below the 8-year trendline, as well as the 0.236 Fib which would add confluence. Breaking below 57% should seal the deal. This will be a big week to watch.
CRYPTOCAP:BTC.DShort
by jonnieking
SOL / ETH - Reversal Signs FormingI suspect CRYPTOCAP:ETH has a bit more gas in the tank, but the early signs for the real Alt Season are nearing. RSI on the weekly is nearing the June 2023 bottom which kicked off the massive bull flag formed on SOL / ETH for the next 2 years. Still too early to call at this point tho. Need volume to really burst through in the next week or two. I’d also like to see BOATS:SOL close the week with a massive bullish engulfing candle. The bearish cross on the 20 / 50WMA should mark the bottom when it occurs soon.
by jonnieking
1
SOL / ETH at Critical Inflection PointSOL / ETH loses the 50WMA. Has been trading below it for the past 7 weeks, something we haven't seen since 2021. Has also broken down from the 8 month bull flag / parallel channel. Retesting the key POI I've been eyeing. HOPIUM: We've seen great rallies after CRYPTOCAP:SOL goes down ~40% vs CRYPTOCAP:ETH , which it is at now. We SHOULD see a turnaround here soon. And I still believe SOL will greatly outperform ETH this cycle, especially when the ETF launches and Alt Season kickstarts. Right now we're seeing a typical market cycle BTC > ETH > Large Caps > Mid Caps > Micro Caps
by jonnieking