The market found some support and is up to $177.13B today. Dominance has dropped to 55%. The current alt market was caused from a 2% shift in dominance meaning if BTC spikes and the dominance raises to 57%, there are some alts that will be seeing some new ATLs. The price of bitcoin is testing resistance at 5500.
Over the past 3 days, we have seen each daily...
The market has pulled back and is down to $173.91B. Dominance has risen further to 55.31%. The price of Bitcoin is testing it's 5300 support level.
This type of movement is healthy after the quick run up. If todays candle is able to hold support above 5300, we could begin moving sideways and see the price range for a period of time.
In which case, we could...
Strategy: Oversold indicators. Falling wedge. Possible MACD cross. Kumo twist. Aiming for the lower two targets. Market momentum has been low and target 3 could take up to a month or more.
Buy Around - 819 - 857
T1 - 945 (12.5%)
T2 - 1061 (26%)
T3 - 1216 (45%)
Stop-Loss - 772 (8%)
Risk / Reward
T1 - 1 / 1.54
T2 - 1 / 3.25
T3 - 1 / 5.51
Strategy: Highly oversold. Large probability of an upside break - bull flag formation.
Wait for the dip to fill buy orders. Place stop loss after orders are filled. Set alerts at take profit points.
Be careful where you set your purchase order. There is a 7% spread in the buying range.
Buy Around - 3046 - 3283
T1 - 3717 (17.5%)
T2 - 4171 (32%)...
Price has been equalizing the past few days. The tightened candles over the past few days express the indecision of the current market participants. I see two scenarios unfolding in the near term. But first I will explain the what the indicators, candles, patterns, and support and resistance are conveying.
The Kijun Sen has been flat the past few days,...
After some turbulence the past few days, the price of Bitcoin has calmly settled on top the .5 fibonacci level.
Psychological support levels have been illustrated by the light blue lines under the price. If the Fibonacci level breaks down, these will act as our next lines of support.
The RVI displays a well-defined range of movement for the current volatility...
Cup and handle formation on the weekly charts. Stochastic has crossed over. If the volume persists over the next few weeks, we could see support form and a breakout take place from the handle. This continuation of upwards price action is also reflected by the Kumo cloud lessening volatility.
Buy Around - 10.61 - 10.89
T1 - 12.27 (14%)
T2 - 13.25...
Recently the tech sector has taken a hit in U.S equities. That, in combination with the lackluster earnings reports by Nvidia during which time, their CEO said the company was "crypto hungover" and had suffered a bloated inventory that could take up to two quarters to re-balance.
These negative impacts are reflected on the current technical charts. A pair of...
Bitcoin price has been narrowing tighter and tighter over the past few weeks. Articles have reflected more bullish views about psychological bottoms, less market volatility, ETFs, and the upcoming Bakkt exchange.
Price has tested its current trendline 5 times and has been able to hold steady.
Stochastic forming possible double top formation
Right now the price is testing a potential trendline for the 2nd time.
Lower timeframes are oversold indicating a potential double top on the StochasticRSI.
However, if selling pressure continues, we could break the trendline and sink to a support level of roughly 2693 over the week. At that point, there is strong psychological resistance as well as support...