CrackingCryptocurrency

CrackingCryptocurrency

XRP continues to consolidate underneath our current level of strong Resistance. This zone of Resistance stretches from 0.5371 to 0.5572, and is/was a Fair Value Gap created back in May 2022 during XRP's freefall. We've successfully broken this level once this year, fueled by the successful news of Ripple Labs pyrrhic victory against the SEC. A successful...

CrackingCryptocurrency

Ethereum, like Bitcoin, has made a decisive movement. Analyzing Ethereum however, gives us further insights into what we can expect from Bitcoin following this pump, and how we can use this information to identify profitable trade setups for both assets. Ethereum has pumped up to a Daily Supply Zone, just like Bitcoin. The current resistance level to break on my...

CrackingCryptocurrency

Bitcoin has made a significant move in our favor, rallying from consolidation at the bottom of our Daily Range to our first level of Daily Supply. Bitcoin Funding has also jumped nearly 10%, pushing funding into the 88th percentile. This indicates that this rally is being led by futures volume, and that futures traders are returning to an optimistic outlook that...

CrackingCryptocurrency

Bitcoin's price is in a wide range, from $25,000 to approximately $31,000. We've been trading this range essentially all year, with price first reaching these levels back in March 2023. At the top of the range, we have a Bearish Order Block, stretching from $29.5K to $31.8K. At the bottom of the range, we have a Demand Zone from $24.8K to $25.8K...

CrackingCryptocurrency

Ethereum is also in a range, similar to Bitcoin, but a harder to identify and define range. Nevertheless, we can see that ETH has driven down into a Demand Zone, and after filling Bids price is now attempting to break above local resistance, with what appears to be success. Waddah Attar Explosion and Mynx technical indicators confirm the breakout attempt, so I...

CrackingCryptocurrency

XRP is an interesting asset to watch, following it's crazy pump back in July of this year. XRP's price has been relentlessly swatted down from a Fair Value Gap Zone between $0.5371 and $0.5578. This Fair Value Gap was created all the way back in May of 2022 during the market-wide selloff. We can see very cleary that everytime XRP's price comes up into that...

CrackingCryptocurrency

Bitcoin has been remarkably bullish this year since establish our bear market low following the collapse of FTX. We've been in a steady uptrend ever since, with a nice bout of expansion from January to March of this year. Since then, we've essentially been range bound with a bullish hue. Two weeks ago we made a new yearly high, and are currently consolidating...

CrackingCryptocurrency

XRP remains in a low volatility period of accumulation. Still engaged in it's legal battle with the SEC, price remains range-bound between $0.30 and $0.55. A higher low was just formed on the weekly, and if bullish news breaks traders should anticipate the breakout above $0.60 for their entry trigger. However, as we are still range-bound, range-bound trading...

CrackingCryptocurrency

Bitcoin is still consolidating at support. I typically don't like to see price grind sideways along an area of support. It indicates that there isn't violent demand in that area. If we see fierce demand, we will see a move away from that area of liquidity. As we have yet to see Bitcoin v-bottom away from this support area, the longer we grind it, the more likely...

CrackingCryptocurrency

RNDR/USDT - Daily Timeframe RNDR is an interesting asset, a lot of hype around this token. Price is struggling to overtake current resistance between $2.20 and $2.50. Price is currently right at resistance right now with a potential Swing-Failure Setup. We are above the Base Line , and we did just have a nice push with momentum OFF of the Daily Base Line...

CrackingCryptocurrency

Bitcoin just concluded a weekend of low volatility and movement. Friday produced a hammer candle with a long price wick that ended about 6% shy of our Daily Base Line. Saturday and Sunday saw price remain right at Friday's closing price, with Monday opening up bullish price prices creeping back across our 8 DEMA. With prices above the Daily Base Line, our...

CrackingCryptocurrency

'Sell in May and walk away' - does it apply to #Bitcoin? Historically, selling in May results in missing out on gains. However, a simple strategy that buys COINBASE:BTCUSD in Oct and sells in May is profitable 60% of the time, with a net profit of 4.15%. The strategy's effectiveness depends on the current market cycle. Selling in May misses gains in a...

CrackingCryptocurrency

Several weeks ago I proposed a technical analysis trade setup for Ethereum Classic. First, I analyzed to see what the regime for this asset was: Mark Up, Mark Down, Consolidation. We noted that the regime appeared to be Mark Down, and furthermore that ETC was trading in an identifiable pattern, a channel. Channels are lovely when you discover them, as they...

CrackingCryptocurrency

After a nice markup phase, Bitcoin is currently stalling out. Above us we have the resistance of the 200 daily simple moving average. This is a tough nut to crack. Time transformation, one of our primary momentum oscillators, just printed a bearish cross under and overbought territory. This is considered a sell signal. Rather than exiting my entire position, I...

CrackingCryptocurrency

NEO/USD was requested by my good friend GBU Professor Wally. I apologize I was not quick enough to respond to his Super Chat on Friday afternoon. I quite like NEO in this area. On the Weekly Timeframe, we are consolidating following a downtrend and now a long period of sideways and volatile ranging. I identify the current formation as a Rectangle Bottom, which I...

CrackingCryptocurrency

I recently took two discretionary positions on KNC/USDT. In this analysis I've documented my thought process and execution sequentially from left to right in the call outs. In these trades I used several methods of analysis. 1. Chart Patterns My first trade entry was predicated upon a Rectangle Top Pattern I identified KNC forming. Rectangle Tops occur during...

CrackingCryptocurrency

Volume Profile Fixed Range Analysis Takeaways: 1. The previous dominant trend direction moving into the beginning of the year can help in determining the direction of that year's trend. 2. Consolidation (range) occurs at High Volume Nodes and can determine the direction of the emerging trend. 3. Price has largely Distributed throughout 2018 the Accumulation...

CrackingCryptocurrency

RECTANGLE BOTTOMS TUTORIAL A Rectangle Bottom is a short-term bullish reversal pattern. A decrease in volume often precedes this formation. In Bull Markets, these patterns breakout to the upside 85% of the time. A Rectangle Bottom is preceded by a downwards price trend. Price action will compress between two horizontal trend lines. Price will bounce between...