CryptoMichNL

CryptoMichNL

Tricky altcoin technical analysis, but it’s about Fantom (FTM). We’ve been posting this one from Coinigy, but I’d want to post it on TradingView to see how this one unfolds. In general I’m assuming that we’re seeing pretty interesting range retests on altcoins, especially Cardano, EOS and Monero. This also means that if Bitcoin remains above $9,400-9,450, the...

CryptoMichNL

Uptrending markets have to retrace. And these retracements are fairly short, but will give you an incredible opportunity to buy the dip. The total market capitalization chart is a chart I’m relying on a lot as it gives a pretty much clear view on the market. The $166 billion area flipped as support, which marked a new higher low since the lows of December...

CryptoMichNL

NOTHING GOES UP IN A STRAIGHT LINE. Wow, no shit Sherlock. But what can we expect from Bitcoin? I think we’re in for some weeks of relative calm movements in which Bitcoin accumulates back again on a higher level, before it continues to move towards the next resistance. The $10,000 couldn’t provide substantial support and the move is a bit overextended in my...

CryptoMichNL

Ethereum (ETH) made a nice new higher low at $120 earlier this year, which was the first time since the whole bearmarket. Are we out of the bear market? I guess we are. What do we expect from here? We should be making a wave that’s creating a higher high, just like Bitcoin did with the $14,000 move. So, what hurdles do we have? First of all, we’re aiming $220...

CryptoMichNL

A very simple chart for Stellar Lumens (XLM). Retraced all the way towards the levels before the big surge in December 2018. Confirmed support there. Bounced upwards & flipped the $0.053 level support as well and now facing a 2-year downtrend. As long as $0.053 remains support, a breakout to the upside is likely to occur. Main targets to aim...

CryptoMichNL

Cardano (ADA). One of the majors finally breaking a massive range after 6-months of sideways continuation. Usually, these accumulation ranges indicate a bottom, especially when they make such a scamwick as Cardano did a few weeks back. How is this setup defined? Well, the major resistance was 535-550 satoshis. That’s broken to the upside. A retest of this...

CryptoMichNL

Simple, Icon and Aion made some great movements recently. And all these coins are still down a ton since their ATH. Will we reach ATH’s again? For the projects that are legit, we’ll break past them in the coming bull run. Just like BTC is breaking ATH’s again. Hard to believe, but who expected Amazon to hit $2000 after Dot.com bubble? WanChain, on support...

CryptoMichNL

A new week, new charts on TradingView. Let’s start of the week with Matic (MATIC Network). Yes, it has seen a tremendous growth earlier and a massive dump, but we could see some upwards momentum back again. Reasoning is simple; The green zone around $0.15-0.16 marked as support and flipped from resistance to support here. As long as that area remains...

CryptoMichNL

A very simplistic view of the post I’ve done lately in which we had to hold the Golden Pocket Fibonacci level and that’s simply shown as support, again. Going back to November ’15, this marked the bottom of the first parabolic movement as well. Aside from that, the long-term trend is holding up nicely back again and the downtrend is broken to the...

CryptoMichNL

Icon, the Korean Ethereum back in the day, one of the most hyped coins around here and one of those coins that went down 99%. From $12 all the way back towards ICO prices and that level has been defended a lot here. Currently price made a double bottom structure at $0.11 and broke above the resistance of $0.125. Even further upwards movements were warranted in...

CryptoMichNL

Yes, it’s ridiculous, but I think I’m thinking about longing this Ripple chart here. Remember ZEC? It made it’s first HL in a long time and moved 100% since. Remember VET? That made a slight HL in a while, broke a long downtrend and moved almost 200%. Fun part, again everything is breaking out in January (just like ’16, ’17, ’18 and ’19 were the best quarters...

CryptoMichNL

VeChain, one of the coins that has the biggest community behind it. And also had a big move in November to break out of the downtrend. At this point it’s retracing from this push and looking at the golden pocket Fibonacci area for support. Currently it’s getting the support there given the long wicks and instant bounces from this area, indicating that buyers are...

CryptoMichNL

Chainlink, a highly correlated coin with Bitcoin in the past 18 months and one of the best performers in 2019. However, are we going to see continuation of that or are we topped out for now? Price rejected at the $2,33-2,35 resistance here, which could mean that we’re going to see some retests. I’d be expecting this downfall to occur if Bitcoin can’t keep on...

CryptoMichNL

Yes, yes, yes. It’s still a funeral in the altcoin/BTC pairs. However, as long as there’s a funeral, that would give tremendous ROI opportunities to the people that are patient and smart. The moment the sentiment switches, the coins are already up a significant amount, so the best entry is gone. Remember, the best money is made when you think contrary to the...

CryptoMichNL

It’s a new week and we’ve had a pretty hectic week on Bitcoin trading. So, let’s make another analysis here. Are we bottomed? Are we going to copy the movements of Gold and the previous cycle in which Bitcoin runs towards the halving, assuming a ‘buy the rumor, sell the news’ principle? It’s pretty much crucial by holding that green zone around...

CryptoMichNL

Been discussing this on Twitter the past period as well. Heavy retrace from the parabolic move we've exprienced in the beginning of 2019 (well, 2019 was a wonderful year, right?). And I do believe we're getting towards bottoming of this parabolic move rather than accelerating at this point. The sentiment is getting salty and extremely bearish. People are...

CryptoMichNL

Honestly, I believe that we're looking at the market cycle similar to the period we've experienced in December '15 and January '16. Yes, market is completely different than back then, but market cycles tend to move the same way given market psychology and the human being. One difference; they move on new price levels. Similar to that we saw that the Bitcoin...

CryptoMichNL

Bitcoin couldn’t provide support on the 21 EMA unfortunately and broke down from it and the descending triangle. The breakdown from 21EMA was pretty likely to occur if the pattern decided to drop south, as the EMA was moving just below the support at the descending triangle floor (9300$). So what’s next on the TA of Bitcoin? Macrostructure broken? No, even if...