With the majority of the popular profiles being bullish all the time, we have seen them call for the market bottom and primary trend reversal multiple times in the past year and a half. Then since October 2022, when Bitcoin made a low of $15 479, these calls have become even more omnipotent, with people profoundly believing in their ability to assess the situation...
Bitcoin is down approximately 5% from its high of $24 258. At the moment, we are paying close attention to the price trading near the 20-day SMA. If the price breaks and holds below this moving average (acting as a support), it will bolster bearish odds and hint at a potential trend reversal. Simultaneously, to support a thesis about the reversal, we would like to...
We all know that new coins that come into the market tend to o pretty well. Price has retraced to a fair value gap and on the daily and this is the best price to enter on a limit order. I will make two trades one with target to the next resistance and the other i just let run for at least a year.
Bitcoin is up approximately 46% since its 2022 low, and market euphoria is taking over. There is a tremendous increase in ideas claiming a primary trend reversal (from bearish to bullish) and people dismissing any chances of a recession in 2023. However, we want to take a step back and ignore the noise. Over the past year (since the 2021 market top), there were...
In our last post on Bitcoin, we reiterated our bearish stance (beyond the short-term). However, we also allowed for the possibility of BTCUSD moving higher after breaking above $17 250 (the upper bound of a narrow range). Since then, the volume has seen gradual growth accompanying a price increase of more than 10%. Furthermore, the daily time frame has managed to...
As Ethereum’s chart closely resembles Bitcoin’s graph, there is not much to report. Despite that, we would like to remind our audience that we stay committed to our price targets of 1000$ and 900$. Our thesis is based on a combination of fundamental and technical factors explained in the idea attached to Illustration 1.01. Illustration 1.01 Illustration 1.01...
Bitcoin is getting stuck within the narrow range, manifesting a neutral trend. It currently trades near $17 200, which is slightly below the range's upper bound. In the big picture, we continue to be bearish on Bitcoin. However, the lack of a trend makes a case for both scenarios, bullish and bearish. Therefore, we will pay close attention to the price action and...
Over the past two months, Bitcoin’s volatility and volume have diminished significantly, which hardly supports the bullish narrative about the growing interest in Bitcoin. At the same time, active addresses holding Bitcoin dropped from 5 165 158 on 7th November 2022 to only 4 585 372 on 26th December 2022 (based on the information obtained from Glassnode),...
Coinbase stock is ready to drop . Stoch indicator shows an overbought conditions. The price faked out a little bit above the resistance trendline, but it got rejected from an upper boundary of the Bollinger bands. Expecting a nice drop. Target: 31,40 $ which would be a lower boundary of the BB. Good luck
On 8th August 2022, we introduced a setup with two alternative trades coming after the breakout from the wide range in which XRPUSD oscillated for some time. A few days later, a piece of news concerning a minor win for Ripple Labs Inc. against the SEC sparked a buying frenzy that propelled the price more than 40%. Meanwhile, in the early stage of the rally, we...
The price moves in the channel . At the moment the double bottom pattern on 1h timeframe is valid and we expect the push up towards the downsloping resistance line . After that, we should see one more dump before we reach 'aggresive' target from Head and shoulders that we identified some time ago: Conservative target was already reached. You can long it now or...
Bitcoin broke the key level which it held for many months. Yesterday Coinbase´s price bounced from the key support however we expect that Coinbase stock will follow Bitcoin´s path therefore getting rejected from the resistance (red line) wouldn´t be surprising. According to technical analysis, support which is tested more times is more likely to break down. If...
Over the past week, Bitcoin’s volatility diminished significantly. Currently, it trades near 16 800$ and stays within the narrow range. For as long as the price stays within this range, we will remain neutral. However, beyond that, we stay bearish and maintain our price targets of 15 000$ and 13 000$. The setup remains valid with the bearish trigger accompanying a...
What we can see on the chart is a potential head and shoulders pattern forming. Currently the price might be forming the right shoulder. If this pattern were to form itself fully , we will be looking for a break down with a volume surge. The target from this formation would be around $32. If you enter short position, remember to put a stop loss which could be...
The price of Bitcoin faltered shortly after our previous post. Indeed, Bitcoin erased all of its gains and returned to the narrow range before breaking below it. Currently, it trades near the range’s lower bound at 16 800$. As for our stance, we continue to be bearish on BTCUSD and remain skeptical of calls for the market bottom. We believe the bear market has not...
Since our previous article on Coinbase, the price of shares has drifted to new lows before staging a rebound. Currently, the price hovers around 35.6$, which is down more than 91% from its all-time high value in 2021. With many structural problems in the cryptocurrency market, we doubt the stock will reverse the primary downtrend anytime soon. Thus, after the...
The current week will bring exciting events to the cryptocurrency market, with the FOMC decision coming out on Wednesday. Currently, the FED is expected to hike rates by 50 basis points, which drives the narrative of a mini-pivot. However, we disagree with this assessment as we argue that higher rates will still put more burden on the economy, which is already...
We have last time focused on AI coins since we believe that AI can change the world coming time. and one of these coins is OCEAN. Data shows that this coin can be very interesting coming time.