Ethereum fell to our level at $1100 as the FTX situation worsened with Binance pulling out of the deal. We hit our support level at $1100 exactly, and saw a nice pivot there. This morning, at 8:30AM EST, US inflation data came out softer than expected, causing all risk-on markets to rally as this means the Fed is expected to ease their hawkish rhetoric for the...
Bitcoin has exhibited some of the most volatile swings in the past 24 hours as it has in the entire time we've been following it. First, the FTX debacle worsened as Binance reportedly pulled out of their deal to by the insolvent company. This sent BTC to yearly lows, cracking our absolute lower bound at $17.6K. But we didn't stop there. Bitcoin continued to...
BingX’s Bitcoin Chart Bitcoin extended its losses yesterday, briefly dipping below $16,000 and breaking through an earlier support point. In the short term, bitcoin is currently fluctuating in the range of $15,000 to $18,000, with upward pressure near $18,500. The bearish trend in bitcoin has strengthened at the daily level. Today’s Cryptocurrency...
Litecoin has compeletely retraced all gains from the Moneygram news. We blasted through the $50's, reaching as high as the $70's, before the FTX news slammed crypto markets. Liquidity and solvency issues came to light as Binance announced it was buying non-US divisions of another major crypto broker, FTX. Litecoin has subsequently retraced all gains, plummeting...
Ethereum has plummeted from highs after forming a double top at $1653. This follows insolvency and illiquidity fears as Binance has offered to rescue the non-US divisions of FTX, another major crypto broker. Most of the majors have smashed through significant lows, and Ethereum has erased all monthly gains and then some, smashing through the $1200 handle as it...
Bitcoin has melted down, as the FTX platform faces insolvency issues . Binance came to the rescue, offering to rescue non-US divisions of the company. This follows a bank run in FTX's token, FTT, after Binance sold over $1B of the token, causing a 'bank run' which impacted the entire crypto market. The whole ordeal spurred worries of liquidity and solvency...
BingX’s Bitcoin Chart Bitcoin's downtrend isn't over yet, which means risks remain in the crypto market. But a more optimistic scenario is that the price of Bitcoin has broken through the previous low. History does not simply repeat itself, and market bottoms are usually accompanied by significant events. High - risk insolvency events are likely to lead to...
This chart is a second look at " Bitcoins Peculiar Elliot waves" In this analysis we are assuming that wave 3 has not finished yet, but should do so by summer next year. June @ 95 bars would mark a 2.5 lengthened cycle from the first first wave. The next look is into an a possible extended bear market with the bar length all clearly marked, at this point for me...
Litecoin made a run for the $70's, with $73.62 providing resistance. This turned out to be a ceiling for now, and Litecoin dropped with the rest of the crypto market back to the $60's. We did not retrace the entire move back to the $50's, which is reassuring. We are currently seeing support in the mid $60's around our level at $64.37. A wick extended down to...
Ethereum dropped with the crypto selloff. We warned that a double top at $1653 may be an ominous omen, and sure enough, $1547 could not hold support. When support broke, we retraced through the vacuum zone to $1424. A green triangle on the KRI confirms support at this level. The Kovach OBV has been steadily trending down. If support fails at $1424, then we...
As predicted, Bitcoin retraced significantly, giving up the $20K handle entirely. It was looking like crypto was going to make a run for higher levels in the $20K's and bulls were already celebrating the next pump. However, reality set in and Bitcoin crashed through support at $20.7K. We are currently seeing support from $19.5K and are hovering below $20K at...
I have taken positions in SOLUSD and this is my breakdown.
VET is going to finish the cup on a bullish trend and then go on to inverse head and shoulders! I see this heading to the first black line drawn on the chart in early December and the head and shoulders inverse completed in early January. After the new all time highs will be established! #VET is #bullish in every way in my opinion. This is my opinion and not...
If this accurate, Bitcoin might have one of the peculiar Elliot waves cycles. The cycles so far as we can see have been clearly lengthening, but will it continue? What I am proposing here goes against that narrative but is within cycle parameters and structure as shown with the labeled length in bars . We are on the monthly chart here so every bar is one...
Hey fellow traders and Bitcoin enthusiast, A month a go I made chart labeled "will bitcoin ever break above it's old trend line?' It was met with overwhelming response from the community as it was my most popularity chart. The charts focus was a look into the indicator "BTC Log Rainbow" coded by BullRider802. I wanted to look even deeper into this chart and...
Litecoin has rocketed from the $60's, establishing footing in the $70's now. It is difficult to accept that just a few day's ago, LTC was struggling with holding the $50's. We have broken past several levels and traversed wide vacuum zones. We currently appear to be topping out at $73.62, and will likely equilibrate around this level. We can expect support at...
Ethereum made another run for $1653, but met stiff resistance and retraced back to support at $1547. We appear to have a double top at $1653, which could suggest that we've maxed out for now. However, $1547 is providing strong support confirmed by green triangles on the KRI. If we are able to pivot, we could easily make another run for $1653. If support caves,...
Bitcoin showed signs of strength, breaking through our target at $20.7K and making a concerted effort for the next target of $22.4K. However, we met stiff resistance around $21.4K and immediately retraced. We are seeing support at $20.7K, which once provided resistance, confirmed by green triangles on the KRI. The Kovach OBV has slumped, suggesting the bull run...