Ethereum has found new highs in May during a period of price discovery and everybody losing their minds over the NFT craze. From the peak hype, we’ve fallen about 60% and have been capitulating ever since (about 1.5 months). ETH has found support along the 1.0 Fib level at $2,022 and this pattern looks the exact same from the pullback we saw in January 2021. We...
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No news yet but Tesla looks ready to push toward new levels by the end of summer. Currently we sit in a bullish flag which could result in new all-time highs. Chances are we could see one last retest toward $560 before finding enough fuel to breakout unless we see critical news released over the weekend (attention toward the plaid). DCJ
Bullish indicators: Breakout & retest of orange wedge as support. If it breaks out with force chances are we could see it make a nice lil run without the retest Bearish indicators: Sitting in a larger wedge which shows signs that we could see another retest on the downside
Good afternoon / evening traders! This is my 1st update in 10 days, this current market sentiment is difficult to navigate around in. There's just a lot going on in the cryptoverse right now with China banning Bitcoin miners on one side of the spectrum, and entire countries like El Salvador accepting the 'magic internet money' on the other side. In saying this,...
Looking at the daily time frame of Binance Coin we can see that after the crash in May from the local high of $676, it found a bottom at $333 (Feb 2021 Swing High). The absolute bottom was the $258 level, which is the bottom of this accumulation zone and interesting enough we didn't see a single daily candle close below $258 which is a sign of very bullish...
Looking at the 12-hour time frame of XRP we can see that its bottomed out and accumulating along the 2018 swing high at 0.89999. At the moment, XRP is inside this wedge and looking to breakout or at least wick the topside trend around 1.32. My targets moving forward if XRP continues to hold this 2018 swing high at 0.89999 are: TP1 🎯 $1 TP2 🎯 $1.09030 TP3 🎯...
Looking at the 12-hour time frame of Litecoin, i'm seeing a clear bottom out along $171 (2-year valley support created in 2017). At the moment, LTC is accumulating in the $171 - $183 zone and will continue accumulating in that zone until it moves back up. My targets moving forward after Litecoin finds a stable support above $183 are: TP1 🎯 $194.75 TP2 🎯...
Looking at the 12-hour time frame of Ethereum we see that it bottomed out along the 1.0 Fib level, similar to Bitcoin along what would be the 33k level, respectively. Moving forward, we're going to continue slowly accumulating and rising back upwards through the summer until we reach new highs later in the summer. At the moment, ETH is holding this ascending...
Bitcoin did end up catching 33k support as the bottom. We didn't see a touch of 27k or something crazy like 24k or sub 20k. From here, looking at the 4-hour of BTC it looks like this was the bottom painted here after wicking 33k for a 2nd time, along this rising channel around the $36-37k zone heading upwards to 40k and beyond. The next major move for Bitcoin...
BTC made a descent as we anticipated, the question is do we have more room to go? Is this the end of this cycle's bullrun or do we have a 2 top cycle in store for us? | Currently, we are seeing a nice relief rally off $31k; I'd say it's safe to say $29k is in the books if we can't break & hold above $35k. These next few weeks, patience will be key. We most...
Looking at the 4-hour time frame of Ethereum we can see that we're currently trending inside of an ascending triangle and we're just waiting for that imminent breakout to the upside. ETH is bouncing around that 1.618 Fib level around the $2700 level heading long towards $3000 and above. The top resistance of the ascending triangle is placed at $2910 and once ETH...
The ETH/BTC ratio is almost complete, looking at the daily time frame it looks like Ethereum is on track to continue out performing Bitcoin and reach the TP3 level placed at 0.10 BTC per ETH. What I mean by cycle complete is that this red distribution zone marked out on my chart is the exact same level that ETH hit in 2017 twice during altcoin season. This is an...
Looking at the 4-hour time frame of Bitcoin we can see that the dump looks like its over and that it caught support along the $33k level until it eventually evened out along $37,000. From here, i'm expecting another week or so in accumulation in this same range underneath the 1.618 Fib level until Bitcoin breaks out to the topside and wicks $57,000 again and...
Looking at Litecoin on the 4-hour time frame we can see that its found its potential bottom and has stopped falling downwards. The falling knife bottomed out at the $121 - $124 level of accumulation / support and eventually found its sustaining support along the $171 - $183 level along the 2-year valley created back in 2018. From here, it looks like Litecoin is...
Looking at ETH on the 4-hour time frame it looks like its double bottomed out and is now looking to reverse back upwards. The start of the uptrend was created the last week of April going into May at $2,300 without a single pullback from the $2,100 area. This was very overbought and was gearing up towards a brutal crash. From this move upwards though, ETH formed...
Welcome to HELL WEEK, buckle up! | BINANCE:BTCUSDT continues to show signs of exhaustion, we've been calling it for weeks... Bitcoin is headed to $29,000 ; We should see a relief rally off $29k, if we end up losing $28k, we will head to $23k. If we have any hope of a rebound to the upside we MUST break & hold above $28k which will prime us for our pop back...
XRPUSD has posted up a double bottom on the 12-hour time frame along the 2018 swing high level which is acting as support. From here and going into June and July, I see a period of continued consolidation as the markets cool off and the FUD narrative stops spreading around. I also believe that around the time ETH has the EIP-1559 fix, XRP is going to beat their...