Crypto_RuyterNL

Crypto_RuyterNL

At the moment Bitcoin gets rejected at the 52k level. I think this is a key level to regain the full upwards momentum and bullish market structure. But, just like after the -25% correction between 7 and 21 sept, i think Bitcoin first needs some rest. The blue candles seems reasonable to me; Consolidation, breakout, regain bullish structure.

Crypto_RuyterNL

If you focus on the day to day price-action of Bitcoin you do not get a good perspective of where we are in the market. Looking at shorter time frames and reading through all the FUD does nothing more then create fear. To prevent exiting your positions because of short term fear, let's look at the chart and identify key levels for Bitcoin to stay above before i...

Crypto_RuyterNL

Fantom took a hit (like most alts) when Bitcoin dumped yesterday. Stochastic RSI shows a clear sudden downmove when the market dumped. RSI actually looks good, it bounced off of the 50MA indicating bulls holding FTM in bullish territory. When Stochastic bottoms out an can reverse momentum i think FTM can resume its uptrend soon. (Let's hope BTC doesnt shit the bed again).

Crypto_RuyterNL

Zooming out is sometimes the best way to take away fear and doubt. Even a 52k Bitcoin in the first week of December wouldn't invalidate an uptrend. At the moment the 60 - 62k is acting as a strong support area. BTC is still above the middle band of the boillinger bands, and the RSI above 50 indicates Bitcoin is still in a strong uptrend. Let the short term noise...

Crypto_RuyterNL

Chartwise COTI looks reasonable. Price is respecting the ascending supportline, despite the market correction yesterday. As long as RSI can stay up/above 50 it looks like price can move upwards pretty easy. Only thing that concerns me is the A/D divergence from price. This indicates COTI is (heavily) distributed which can indicate price is held down...

Crypto_RuyterNL

Fantom looks very bullish to me. Stochastic is bottomed out showing momentum turns bullish, RSI strong above 50 indicating bulltrend. $4 target mid-term on the Fib.

Crypto_RuyterNL

Bitcoin is on it's way to breaking out of the (accumulation) wedge. Stochastic gives room for much more bullish momentum. $63.2k will break the wedge. Preferably a re-test before moving higher.

Crypto_RuyterNL

TLM looks very promising imo. The RSI is above 50 and thus signaling a possible uptrend. Volume is strong during this breakout, while volume during downtrend was much lower, showing lot's of buyers entering the market.

Crypto_RuyterNL

On the D1 COTI broke out of the handle and looking for continuation. RSI indicates bearish divergence, Stochastic overbought .Note the yellow A/D line diverging, indicating large outflow of money. 0.60c is support, but i'm not optimistic this will hold if COTI drops more. Not to bullish (for now)

Crypto_RuyterNL

DOT makes a new ATH and currently in price exploration. Daily RSI is not even in overbought territory and momentum is upwards. On the 4h DOT has a nice close above $50 resistance, turning support. With the parachain auctions coming up Polkadot is just heating up for November imo.

Crypto_RuyterNL

Bullish on RUNE. Thorchain is on it's way back and highly undervalued atm imo. RUNE is making a nice run, and did a 2x in the last 11 days. For now, RSI gives a bearish divergence indicating we might see some consolidation before moving further up.

Crypto_RuyterNL

MATIC currently in a falling wedge during an uptrend. A bullish continuation pattern. Note the high volume upwards, and low volume downwards. This indicates small entities taking profit. Momentum indicates MATIC is oversold, so upside is to be expected.

Crypto_RuyterNL

DOT comfortably moving sideways above the $39 support. A/D indicates $DOT is being in accumulation atm. Stochastic bottoming out above the oversold level, so Polkadot might stick around for a short time before resuming upwards momentum.

Crypto_RuyterNL

COTI is testing the breakout out of the channel as support. Stochastic is oversold so with a bit of luck (and strength of Bitcoin) we could see a nice retest here.

Crypto_RuyterNL

Historically speaking the weekly BTC RSI never drops below 50 during a bullmarket and never come above 50 during a bearmarket. In the current market weekly RSI is above 50 which indicates, historically, more upside is to come.

Crypto_RuyterNL

During strong uptrend falling wedges gives traders opportunities to take buy positions or average their position in the market. A falling wedge is usually a bullish continuation pattern. BTC broke out of the channel and is currently retesting the breakout. Further upside continuation is to be expected.