FieryTrading

FieryTrading

In this analysis I want to shed some light on an interesting relationship between Bitcoin and Gold. It's not a relationship that you can use in your day-to-day trading activities, but it can clearly be used to spot long-term areas of support and resistance. As seen on the chart, the yellow area (which was established at the 2017 top) has offered support during...

FieryTrading

BTC has been trading relatively bullish over the last few days. However, it seems that BTC is encountering heavy resistance at the intersection of the blue and purple resistance lines. I've been bearish in my last few analyses, and I will stay like that in the short-term, unless we manage to close the day above the blue resistance. For now, bears are still...

FieryTrading Updated 

In my last couple of BTC analysis I've had a fairly bearish outlook on Bitcoin's price action. See below: Seeing that BTC is currently experiencing a strong surge in price, I'm willing to look at the market with a more bullish perspective if BTC manages to break through the top purple resistance. For now, I'm anticipating a rejection from said resistance...

FieryTrading

As of last week, Ethereum has broken out of a rising wedge pattern which has been formed at the start of 2017, making it the longest pattern that exists on the ETH chart in recent memory. Seeing that rising wedges are classically bearish reversal patterns, the risk is definitely to the downside. There's a risk that ETH will see more bearish pressure over the next...

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KCS has been in a very steady downtrend ever since the 2022 top. My view is that KCS will see more downwards pressure over the next coming months. Remember that KCS has steadily been losing value during 2023 and is currently trading around 30% lower than its value on January 1st 2023, which is a bearish outlier. For now, we can see an oversold bounce towards the...

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As of today, LUNA has finally broken out through a bearish resistance line that has been produced in September last year. In my view, this can be the break out that patient bulls have been waiting for. I'm waiting for a daily close above the resistance before calling the break out a fact. Stop below the Sept 4th resistance. Target at 2$. With LUNA being one of...

FieryTrading

I rarely look at moving averages because they are often lagging indicators and tell only a part of the story. However, I noticed that de 50-day SMA has proven to be a very worthwhile indicator to watch. Since late April, the 50-day SMA has offered a lot of support and resistance for Bitcoin's price, see the yellow areas. In 10 of of the last 13 touches, the...

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Historically speaking, the 200-week moving average was always the main support for BTC and has marked the bottom on 4 different occasions. As of this cycle, things have changed. The 300-week was the main support during the COVID dump and indicated an important area during the FTX collapse. In previous analyses I've stated that I think BTC will likely go down...

FieryTrading

Last month I made an analysis on the BTC dominance (BTC.D) where I discussed an incredibly bullish pattern. The falling wedge played out as expected and the previous resistance is now retested as support. In my view, the BTC.D will continue to rise for the next months. I'm looking at a value somewhere between 55%-60%, potentially higher if we get a big...

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AVAX is one of the weakest bigger alts that's currently on the market. With AVAX losing the key purple support area, I'm anticipating further selling. With a weakening Bitcoin, I won't be surprised if AVAX will fall back all the way to the 2021 lows. From a TA perspective, this yellow area would be a decent long-term entry area if you're waiting for a long-entry....

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Over the last two bull-runs, Bitcoin has been trading in a relatively predictable pattern. In this analysis I want to take a closer look at this pattern and discuss my BEST-CASE scenario for the next bull-run. * BTC has been trading within the bullish channel Since July 2017 (more than 6 years). Every time the support was touched it produced a local low, every...

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ZIL has been trading below the top resistance for around 18 months. The 0.0155 support held strong all this time. A break out on either side was expected after the support and resistance converged. If we can close the week above 0.018, I'm treating it as a successful break out of the triangle pattern. In my view this could be the definite low of this token with...

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In this analysis I want to take a closer look at my previous relative Stablecoin marketcap analysis back in August. To be more precise, I'm measuring the stablecoin marketcap as a percentage of the total marketcap, which constructs this bullish channel pattern. To build it yourself, put this in the TV search bar:...

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After a bad reception of yesterday's FOMC meeting, both the crypto and the stock markets have been selling off. Consequently, BTC has lost the bullish diagonal support that has been helping the bulls, leaving the way open for the bears to step in. In previous analyses I've talked about my bearish longer-term outlook, which naturally still applies. This analysis...

FieryTrading Updated 

In this analysis I want to talk about Bitcoin's bearish triangle pattern that has been unfolding itself over the last few weeks. I'm not sure whether BTC still has a bullish move in it, but when it does, we are ready. As always with trading, it's a matter of > . If Bitcoin decides to move up, we will enter a short from the top resistance which has...

FieryTrading

I've been fairly bearish since BTC failed to break through the top resistance of the channel a couple of weeks ago. However, BTC's price action this week seems promising at the very least, so we have to consider different outcomes at the very least. My anticipation for the coming week is that we're going to retest the top purple resistance. We will get some...

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QNT has been trading inside a bearish triangle pattern since September last year. With the most recent break out below the bottom support area, bears are more likely to step into a bearish bet. I'm waiting for the price to make a new local low, a daily close below 89.9 will do the trick. We don't want to be trading a fake out! Target at the 2022 lows.

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HOOK has been trading inside a falling wedge for over 8 months now. In my view, a bullish break out of this pattern could lead to a new bull-trend for this token. Naturally, a bullish BTC will help. Also, this trade could play out over the long-term, so no quick money here. Still, a risk-reward of 20 is very respectable. I'm waiting for a daily candle to close...