It seems the 3 day chart is getting respected right now. LTC is overly pumped because the halving is coming and it came off the lows of a bear market. The stochastic indicator is overboght and we got rejected by the 200MA.
I dont think the first green support line ive drawn stands any chance of holding. My hope is in the second one around 50 dollars. If the...
SPY looks really ugly. It looks like we are beginning a bear market that will probably last between one and two years. The market is about to lose atleast 30% off the highs in my oppinion, especially if the fed continues to raise interest rates.
We are already oversold on the weekly chart. MACD and STOCHASTICS are indicating oversold conditions. Plus the selloff volume spike that can indicate a bottom is already in. The question is if we need to get oversold on the monthly.
If we follow this channel, the next bull target for ETH is 50k.
I just looked at something very objective in the crypto market that I don't think many people look at.
The coinbases order book in dollars:
When I set the aggregation period to 5, meaning that I can see the orders every 5 dollars of change of the altcoins. In btc it is not so obvious, but in ETH and LTC it is very obvious.
We have a lot of support in the five...
We are a looong way from being cool on the MACD on the monthly chart. We can easily do six more months of cooling in order for the trend indicators to come close to neutral. Then we need to consolidate on the bottom for some time. And then we can start looking for bullishness.
People are acting like it is going to be a V shaped recovery. My best guess is that...
Every one of those lines ive drawn are candidates for support/ bottom. As for now things look really grim for BTC. We are probably going to get a small bounce and retest the old support line as a resistance and continue down. Support at 4k, 3k, 2k, 1k. I will leave it to your emagination where the bottom might be.