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Crypto-analysis

Polkadot (DOT): Setting Up for a Bullish ReversalBINANCE:DOTUSD has recently breached the $6 level, forming a bullish divergence, as indicated by the vertical lines on the chart. The exit from the 3.618 Fibonacci time zone should ideally mark the end of Wave 2, though the exact completion of Wave 2 may lie slightly outside this range. It appears that Polkadot has completed its accumulation phase and is now entering the manipulation phase, with potential for expansion to follow. Given the current situation, we are planning to place an entry at $4.85, with a stop-loss set just below the 100% Fibonacci retracement to protect against a Wave 2 invalidation. Our initial target is $9.30, aligning with the Daily Fair-Value Gap. This strategy aims to capture the potential upward movement as Polkadot transitions from accumulation to expansion. Yearly VWAP Analysis: Polkadot is currently holding the 2021 VWAP level perfectly. However, if this level is lost, the price could move down towards the 2021 VAL (Volume Area Low) at $4.55, which might provide significant support. To resume a bullish trend, Polkadot needs to reclaim the 2021 VAH (Volume Area High) at $6.80. Overcoming this level is essential for a sustained bullish move. If these levels are breached, a drop to the 2021 VAL at $4.55 is possible, where we might find strong support. Overcoming the yearly VWAP resistance is crucial for a bullish continuation. Monthly VWAP Analysis: Polkadot has lost the April VAL (Volume Area Low) and recently touched the November 2023 VWAP. Holding the November 2023 VWAP is crucial to maintaining a bullish stance, although there is potential for further downside. We anticipate a possible drop to retest the November 2023 VWAP and VAL levels to gather momentum for a bullish reversal. To turn bullish again, Polkadot needs to reclaim the current month's April VAL and VWAP levels, suggesting a stronger bullish outlook. Conclusion: If Polkadot fails to hold the November 2023 VWAP, we expect a move towards $4.82. For a bullish reversal, reclaiming the April VAL and current monthly VWAP levels is essential. Until these levels are reclaimed, we remain cautious and anticipate further downside. Our trading strategy involves entering at $4.85, with a stop-loss at $3.55. The take-profit targets are set at $7.76, $9.50, and open for further potential gains.
BINANCE:DOTUSDLong
by freeguy_by_wmc
Cosmos (ATOMUSD): Awaiting a Deep DiveCosmos (ATOMUSD): BINANCE:ATOMUSD For Atom, we've had to adjust our limit order and counting as we observed an additional rise that did not fit into our initial analysis. This necessitates shifting our positioning of Wave (3) upwards. We are still within the ideal range of the 361.8% extension. Following this, we witnessed Wave (4) and an impulsive Wave (5) upwards, succeeded by a minor downward consolidation. In the coming days, we definitely expect to form a Wave (B) and then a Wave (C), although their precise locations are currently unclear. We lean towards expecting a Flat structure, typically between 100% and 138%; anything beyond would be excessive. Assuming that Wave (A) has reached its bottom at the current level, and if we break out significantly above $15.17, we will need to reassess the entire scenario. Until then, we anticipate seeing a three-part downward correction before reaching Wave (C) and thus completing Wave (ii). This Wave (ii) should find its absolute support at the 78.6% level and its associated support zone. Depending on the position of Wave (ii), we then expect a minimum rise for the subordinate Wave (iii) to at least $21. However, in the days or weeks to come, we should still anticipate another significant downward movement after having developed the Wave (B) upwards.
CRYPTO:ATOMUSDLong
by freeguy_by_wmc
2
Polygon (MATICUSD): Time To Blow Expectations!Polygon (MATICUSD): BINANCE:MATICUSDT For Matic, it is now assumed that we have developed the first Wave (a) around our 50% level at just under 90 cents. Now, we're working on developing Wave (b), which is currently at the 138% level and at the end of our resistance zone. This zone has been significant in several instances, holding up so far, and indications suggest it continues to hold. If we surpass this 138% level, it would imply that our limit order, or rather Wave ((ii)), has been reached, concluding this phase and entering Wave ((iii)). If this doesn't happen, we continue to expect a sell-off down to the 50% level, and at most to the 78.6% level.
MLong
by freeguy_by_wmc
IOTA (IOTAUSD): Awaiting Weakness with 800% PotentialIOTA (IOTAUSD) : BINANCE:IOTAUSD Analyzing IOTA , a cryptocurrency that saw a significant decline following a successful bull run, losing up to 94% of its value, we're now eyeing a potential 800% increase from its all-time low. With the completion of the overarching Wave II at 13 cents, we anticipate the start of a bullish cycle. Having wrapped up the initial Waves (i) and (ii), we're now entering Wave (iii), poised for a substantial ascent. Our projections set a target ranging from $0.58 to $1.06, marking a nearly 100% increase from current levels. Our analysis involves the formation of a 5-wave structure, leading us to expect a currently smaller Wave (3) in black, which could peak around 34 cents at the 161.8% extension level, with possible extensions up to $0.48 at the 361.8% extension level - indicating an impressive surge. Therefore, our immediate focus is currently on the $0.34 mark. In the event of weakness in the price, we have the opportunity to position ourselves for a potentially good entry in Wave (iv).
Long
by freeguy_by_wmc
🔮💰 MAGIC (MAGIC) - Awaiting a Potential Move Higher! 📈🚀📊 Technical Overview: MAGIC (MAGIC): Priced at $1.27 on the 12-hour timeframe. Appears to have retraced to a previous support area. Next resistance at $1.50. Stochastic RSI and RSI both indicate a potential reversal and move higher. 📈 Trade Strategy: Trade Opportunity: Awaiting a potential move higher. Next Resistance: $1.50. 🚨 Note: Market dynamics may influence outcomes. Awaiting the magic to unfold! 🔮🚀 #MAGIC #TradeAnalysis #Cryptocurrency 📊💹
Long
by Richtv_official
Bitcoin: And off we go! 🚀Over the past few hours, Bitcoin has held the 61.80% retracement level of $27 374 within the turquoise target zone (coordinates: $28 157 & $25 590), and has even managed to bounce slightly higher from it. Accordingly, our primary count remains fully intact and we continue to assume that the cryptocurrency is currently working on the sub-waves of the turquoise wave [(ii). Next, we expect the price to surpass the resistance level at $31 875. This move should allow the cryptocurrency to gain further momentum and progress within the blue wave (iii). . Although the probability of our alternative has been significantly reduced recently, this secondary scenario remains relevant. There is a 30% chance that Bitcoin could move slightly lower and drop into the green Target Zone between $24 085 and $21 001. However, even in this event, sustainable gains would be expected afterwards.
BINANCE:BTCUSDLong
by MarketIntel
1
Market Cap Analysis: BTC Dominance Rejected, Alt Season Ahead?Hello traders, In this post, we will analyze the current state of the cryptocurrency market through the lens of market cap, BTC dominance, and major indices. We will also look at the potential for an alt season, the impact of the upcoming Bitcoin halving, and which coins are outperforming BTC in the long term. Finally, we will provide a short-term perspective on the price of Bitcoin. First, let's have a look at market cap. The BTC dominance was rejected by resistance at 49% with this reverted hammer candle on week of April 23. It could mean the market cap will flow into altcoins. And, on the right chart, the RSI is oversold and getting closer to the 50 mark which is, on this 2 weeks chart, an indicator of alt season. Now, if we look at the Total market cap, we can see that it significantly grows after a bitcoin halving . The next one is just in 1 year, so be patient! It's also important to look at major indices, since they can impact the price of the crypto market. The S&P 500 is currently trading in a triangle, and seem to bounce on the top of it these last days. It could mean more action to the downside. Here is my "BTC destroyers" chart, and right now, only ETH and BNB, and maybe MATIC are outperforming bitcoin on the long term. Here is a bear's perspective on Bitcoin: I like to compare Bitcoin and Nasdaq price as they are strongly correlated. A double top is forming on Nasdaq price and could be bad news for BTC price. Now on the short term for Bitcoin: The 4 hour chart is printing a double bottom, it will be valid if price climbs back to 28 000$, the target will then be 28 880$. However the bigger trend is bearish, price currently below all moving averages, if price breaks below the bottom of last few day's range at 27 100$, next target for the bears is 26 660 given by fibonacci levels.
by cyatophilum
🔥 GALA Triangle Analysis: Moving To ResistanceIn my most recent GALA post I talked about the massive triangle that GALA is currently trading in. My expectation was that we'd go down to retest the bottom support and reversed from there. In my view, the reversal has been started. I'm looking for a move towards the top resistance of the pattern. Ideally, we will break through that resistance area with a big green candle, but that's for later. For now, the yellow area is our target.
Long
by FieryTrading
2
ETH. On the verge of starting its next leg up. $2000 is NextETH has been correcting for 8 days now..forming what is to me an obvious sideways correction This crypto rally will continuing until the bank drama blows over and/or we get a week+ of consolidation on the charts. A few days ago Jerome Powell suggested this last .25 rate hike may be the last one for a while. With the next FOMC being 6 weeks away...I think we see several weeks of upside for assets including ETH. I have been long ETH via perps from $1430 and have been adding to my position under $1800 $1950 is a solid profit taking level Good Luck Everyone!
KRAKEN:ETHUSDLong
by Brenvest
Bitcoin Scalping Signal for Day Trading🖥️ We have determined there is a 70% chance Bitcoin will Rise from our current entry point. We had a nice Bounce off our 0.786 Fibonacci, and with a majority of the uncertainty over - some upward movement is our belief. 📉 LONG - BTC : $27,250 📉 💵 Length of trade: we are expecting BTC to hit a $550 scalp, with a high end of $1,100, and a minimum expectation of $300. 🕰️ Duration of trade: we are expecting the minimum target to occur within 10 hours. Then we see the rest of this trade playing out within 3 hours of market open for NYSE.
Long
by VirlVideo
BTC - Still Bullish - For Now! ⏰Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 🗒 After rejection the 20,000 round number, BTC broke above the last major high in gray, and have been bullish since then. We will remain bullish as long as BTC doesn't break a previous major low. The current last major low is highlighted in gray around 26,700 📌 If we break below 26,700 expect a bearish correction to start till around 25,000 support. 🏹 Meanwhile, we are still bullish and the bulls would take full control again by breaking above the current minor high in gray around 28,500 In this case, a movement till the 30,000 weekly supply zone is expected. Which scenario do you think is more likely to happen first? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
16