About meJust another artist. For TA I dig into geometry, patterns, trends, macroeconomics and social aspects.
In the green circle we just witnessed a breakout from the weekly MA200 and from the mega descent channel. We are currently challenging the 30k level and we will most likely break it.
Pink line represents an idea of an Inverted Head and Shoulder.
Looking at the bad news in the past weeks we should have gone like straight bottom, 30/50% down. Instead we hold 25k nicely. Now that we are above MA200 weekly and perhaps will use at support, I see two possibilities. Bullish and Bearish. It hold so well so maybe we can think BTC has some power to complete the falling wedge (red lines), reach 30k or even beyond....
There´s a possibility of getting out of this SEC news FUD mess if we confirm the falling wedge and get breakout of it.
Just recently, on the daily chart BTC printed a triple bottom which is quite a bullish pattern showing some buying interest in this area.
If we go below 24/25k we are surely still in a bearmarket.
If we break out of this falling wedge prepare...
27,8k was rejected and 27,5k was a strong resistance.
Looks like we going down to 24k... 20k.
An idea about incoming panic phase.
Wouldn't be surprised if we hit 10-12k to be honest.
Don't underestimate the drop power of this market.
What if we are just in Eth denial phase, in the middle of a massive downtrend?
At the moment Eth seems to be drawing an huge bear flag.
Still remember last bear market a fall from 1500 to 75 dollars. 90% drop.
Why would it be different now?
ETH Foundation sold 15.000 ETH this month and they normally sell it at local tops.
It looks like 3 digits on the...
Seems to me ADA is making a massive falling edge against BTC which is a bullish pattern.
The worst might be over for ADA, so i converted euros to cardano today.
Surely some bumps ahead but nothing serious imho.
After selling ADA at 2,2 dollars two years ago, and calling the peak (check my TA in 17th May 2021), I return to my beloved ADA.
Just an idea of what´s going on with Bitcoin and what may happen before next year halving.
After trillions recently printed by the Federal Reserve and European Central Banks... I am super bullish long term.
Seems like we hit weekly ma200, went throu it, nothing out of the ordinary in a 4 year cycle.
We can now hold, lateralize and try to go to the top ofthe downward red channel, around 25-28k.
Lets see if it holds ma200. It must, otherwise we go into unknown territory below ma200.
Below 19k USD will start to look catastrophic and also feel like cheap btc to buy.
FTM shows a clear double top (bear formation), like other top alts ( in a more shy way). Others show also double top but last peak higher is than the first one (like BTC), but we should imho play safe and considerer double top the same.
Due to the delicate macro situation, pre war cenario, inflation, tax rates, sp500 double top, btc domination rise, and so on, I...