Now we wait.
Either this uptrend was a massive bull trap or we will see continuation. I will wait for a break 48207 before looking for longs.
Target is around 55k.
If we go back into the channel we probably see 36k again. Will be careful with shorts. Market is quite bullish.
I'm not active in the stock market but I am following Gold as it could be the next best thing after the crypto bull market cycle will end.
My expectation is that the bull cycle for crypto ends within 6 months from now. Before mid 2022.
As for Gold, it rejected perfectly from the trendline resistance and now it's making a bounce from the 618 fib.
1721 and 1676 are...
Could it be that BTC is in a massive parallel channel?
The 2nd bottom touch just formed.
The facts are:
14 weeks down
16 weeks up
11 weeks down (currently)
A potential scenario is a retest or a break of the lows to reach the 618.
This is often seen at the 3rd/4th touch of the channel.
I'm leaning bullish
Let's see how this evolves.
The BTC dominance is a good indicator of an altseason where all your useless sh-tcoins moon to the mars.
The current pattern is a continuation pattern. Support is currently broken but the D point of a triangle often sees fakeouts.
If broken, backtested and continued I will look for support at the 35 & 39% area.
If it goes lower we might go past Mars and we...
Looking at the chart and being a pure technical trader there is the potential for ADA dropping to the 1.618 extension.
Seeing ETH pulling back and ADA responding heavily to that and key monthly support being broken and backtested, it is setting up for a massive buying opportunity.
If it comes anywhere near $1, let's say $1,10, I will be a happy buyer. I wouldn't...
I look at the charts and what I see is that BTC is currently in a horizontal range.
The 45k area is strong support and must hold to avoid further downside.
I'm still bullish on BTC because I believe this run is not over yet.
Here's what I believe to be true:
65k completed the major Elliot wave 3.
28.6k completed the major Elliot wave 4.
We are currently in the...
Been watching this one for a while and it's now slowly dying. It's waiting for a burn mechanic in Axie Infinity.
Recent spikes have been aggressive (80% in a day) and this setups can easily be attained.
There are also bullish divergences on multiple timeframes.
This setup offers a 3:1 RR and could also be transitioned into a swing trade as I believe that the...
DOGE is known for insane Muskrallies and now it seems to be ready for one.
It's at the bottom support of the channel.
Whether this is a 2nd wave or a B wave doesn't really matter because the E bounce would already be 50%.
Anything below 16 cents would invalidate this idea and would most likely take it to 8 cents
I believe wave 3 is coming and the Weekly horizontal level at 0.0445 seems a good entry.
RR is risky, even though it's 5:1 so this one should be approached with caution.
Watched this one for a while as it broke out of the horizontal range.
It then went straight to the Weekly level at 1.43 before backtesting the range and the lower Weekly level.
Currently breaking up on decent volume.
Next targets 1.51 and 1.73.
This one has been selling off for 52 days and the volume has been dropping for 72 days.
It hit the 2:1 extension from the corrective structure.
It's also at the .618 support from which it has seen no reaction at all so far.
I wouldn't be surprised if this one would take out all the stops at around 4.45 before reversing up.
The market structure is still bearish....
A deviation from top of the range got everyone bullish but now it's back inside.
Market structure is still bullish.
If the structure changes then the big support to hold is 3950.
If ETH closes below that we are in for trouble.
For now, the probabilities are low that it will happen.
The probabilities are higher of ETH hitting 5k within a few weeks.
While ETH...
I really dislike coins that make people dumber. This is one example as many people lost money on this one. Some made billions.
There is a clear 1-5 wave count and now it's almost at the 618 fib which usually is a good buying opportunity.
Me personally would rather wait for the 1.618 extension at 0.00002697 as this one sold of bigtime.
If you want to buy before...
