Bitcoin has broken above the one year downtrend and after months of trading around the 18000 mark, has now built up a decent floor of support below the market. We have, what I refer to as a confirmed buy signal on the DMI. This happens when not only is the blue line above the red line (+DI above -DI) but when the blue line breaks above the previous blue...
At first this is an analysis just out of curiosity, maybe it doesn't mean anything... The marketcap of a cryptocurrency is obtained by multiplying the price by its number of units in circulation. Then: BTCUSD = U$ 19 K BTC_SUPPLY = 19,176 M units BTC MarketCap = BTCUSD x BTC_SUPPLY = $365.3 B What would happen if the market value were evenly distributed...
If the index enters this yellow zone, it will be another 10% drop. The next support levels are found at the Fibonacci retracement. The DMI histogram is in an important region at -15. Looking back to 1974, the indicator has been in this region 12 times. 4 times it continued down, and 8 times it reversed up.
Celo is showing a rise on the DMI (histogram), while the price has been slowly falling, setting up a divergence. Long targets: 0.91 1.02 Short targets: 0.69 0.50
In this graph we have the dominance of altcoins disregarding stable coins. The calculation is done as follows: TOTAL = Crypto Total Market Cap TOTAL2 = Crypto Total Market Cap excludes BTC USDT = Market Cap of stable coin USDT USDC = Market Cap of stable coin USDC DAI = Market Cap of stable coin DAI So: Altcoins Dominance % =...
There is a rumor that the British government will need a lot of silver to mint its new coins, and that the high cost of energy can make this manufacturing cost soar. News aside, just looking at the chart we have this bullish wedge.
On the monthly chart it is above the exponential average of 55 and the retracement of 0.893. On the weekly chart it is testing the 200 exponential average: The moment of truth has arrived.
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Dominance is about to break the wedge. There is also a bullish divergence in the DMI indicator signaling an upward reversal.
In this video I show the major resistance that the S+P faces and is currently stalling at, I talk about the support levels which need to break which should trigger further weakness. But I also talk about confirmed buy and sell signals on the DMI, One that needs to go back on the radar. The Society of Technical Analysts' next course starts in October. Those...
Bitcoin dominance defines the market capitalization of BTC versus the total crypto market capitalization. When the dominance of BTC goes up, it means that the price of BTC performs better than altcoins. Otherwise, when it goes down, altcoins perform better. According to vertical lines, January is a definition month. The red lines indicate when there has been a...
Interesting test of March highs while DMI is signaling a potential bullish pressure is yet to be ended, we expect here some volatility due to profit takings of shorter term traders, however until the middle of the range is below prices we could wait for a weekly close above the resistance in order to trigger our longs over a bullish breakout momentum strategy.
The further the price drops, the closer to the end of the drop we are, and the riskier it is to open a short position. The risk-return relationship begins to not pay off. Despite all this bad news out there, I still see the sun shine and I still see children playing in the park...
I would bet on the short squeeze... sometimes the market doesn't follow logic, but I could be wrong, obviously. 1. Price testing long pandemic retracement of 21.4% at $ 405.49. It broke 38.2% short retracement from the last top. Stochastic DMI in dangerous region. 2. Is there still room to go up?
After breaking through a diagonal resistance line, the price is testing another diagonal mini resistance. I would expect a return on the support in red for a good entry, unless it gives indications that it won't go back there anymore.
I think the Japanese and Asian markets will anticipate what will happen this week. After a false breakout of a diagonal resistance marked in blue, there is a high chance of filling the gap that was left open, reaching at least as far as the correction of 0.618. Then we will have a better definition.