NewThoughtCrypto

NewThoughtCrypto Updated 

• Between June 10th to June 22nd ADA was trading in a range between the 0.25 – 0.29 USD. • During the weekend (Since June 22nd) ADA broke above the previous range high and tested it as support. • The New trading range is compressed between the 0.2857 – 0.305 USD. IMO, this tight range has to breakout to the up or downside. • Big picture, I am assuming that ADA...

NewThoughtCrypto

At this stage this is just speculation. However, I think Kaspa’s price is developing nicely, and I wanted to share my findings with you. It looks as if KAS is in the process of forming a Cup & Handle pattern. If this is correct, my first price target for Kaspa of 0.15 USD looks achievable within months. For an in-depth explanation about the Cup & Handle...

NewThoughtCrypto

For the time being MASK is still stuck in a bearish Channel. On June 21st -22nd, MASK had a chance to break above a former support trendline, now turned into resistance. Unfortunately, it failed. Next stop, IMO, is the 3.26 USD Support level. If it holds MASK can try for higher. This could also be a chance to try a long position with the invalidation below...

NewThoughtCrypto Updated 

TLDR: • This Idea is for those that want to increase position size or to enter long. • Currently, Bitcoin crossed the 31K resistance and I am fairly certain that liquidity is to the downside. • In addition, on the lower timeframes bearish divergences are forming which is a sign of exhaustion. I think we will get a pull back shortly, maybe during the...

NewThoughtCrypto

• Ethereum is trading in a range between 1858 – 1916 USD. • Currently ETH is unable to break the 1930 USD resistance level. • I expect Market Makers to take advantage of Fed Powell’s speech (June 29 – 30) to take ETH lower. This correction could be a quick liquidity grab, or it may take longer. • After this correction I think ETH will follow Bitcoin and break...

NewThoughtCrypto

TLDR: • A Cup and Handle Pattern is a bullish continuation pattern. In that regard we cannot consider Bitcoin’s chart as a Cup & Handle because there is no prior uptrend. • However, Bitcoins chart pattern does resemble a Cup & Handle and fits with some of the criteria for this pattern. • Taking this into account, it is possible IMO that Bitcoin, in the next...

NewThoughtCrypto Updated 

On the 4H TF we can see a Head and Shoulders pattern. The target of this H&S is the 223 USD support level. IF the 220 – 223 USD level doesn’t hold, next support levels are: • 205 USD • 182 USD Be sure to take advantage of this opportunity. I am still not posting a trade. I need more clarity. However, if you are a holder, I think that buying spot BNB at these...

NewThoughtCrypto

TLDR: • ATM, there is no clear indication that I can see if Bitcoin will push higher above the 31K level or pullback. • The best approach IMO is to wait or, hedge against your primary position. • On the 1H timeframe bitcoin is forming a Triangle pattern. Triangles are not reliable. If you do want to trade the triangle, watch out for a false move before the...

NewThoughtCrypto Updated 

ADA managed to get above the 0.29 USD resistance level. This is the first promising signal that maybe ADA’s downtrend is over. Currently ADA is oversold on the LTF. That doesn’t mean it can’t go higher without a meaningful retrace. ATM, ADA doesn’t look like it has the power to push up, at least IMO. Therefore, I will for a retrace to demand zone between...

NewThoughtCrypto

Yesterday, on June 22nd, BNB failed to break the resistance of 21D EMA and the upper boundary of the Ascending Triangle. Consequently, it also lost the triangle’s upward sloping trendline. During the Asian session BNB tested the diagonal line resistance. I am in no way bearish about BNB, but I think that BNB will go a bit lower before it tries for higher....

NewThoughtCrypto

TLDR: This Idea is for those that want to increase position size or to enter long. Currently it is not sure we will get a retrace. This Idea is to prepare myself (and you, if you’re interested) in case we get a pull back. I listed my pullback targets with what confluence I could find. Please read my previous Ideas (linked) because they provide context. ...

NewThoughtCrypto Updated 

TLDR: • If you are a holder/ long-term investor ADA is in a DCA zone, IMO. • Short- term it is not clear, yet, if ADA has bottomed. • Arguments for and against a bottom are mentioned below. • Possible long trade mentioned below. • ADA is a high-risk asset, at least for now, you need to be aware of it before considering a long. Background: • ADA lost its upward...

NewThoughtCrypto Updated 

TLDR: • FET is reentering a Falling Wedge pattern. FET is testing the support trendline ATM. If the test is successful, it is a possible long opportunity with a close invalidation and great R: R. Background: • Fetch AI is in a correction since February 2023. • This correction is taking the shape of a Falling Wedge reversal pattern. • FET was on the cusp of a...

NewThoughtCrypto

Praise be, ETH finally managed to break out of a two-month consolidation. Currently ETH is above the downtrading resistance line and above the 21D & 50D EMAs. Current resistance is 1930. It is a heavy resistance level, once ETH breaks through it, 2150 USD is next, IMO. ATM ETH is oversold on the LTF, I do not think it is a good idea to get in now. I would wait...

NewThoughtCrypto

BNB broke out of the Ascending Triangle to the upside. It is currently testing the 253 USD level for support. If BNB manages to flip 253 to support, it is a long trade, IMO. If BNB doesn’t manage to break out, I think we will go lower to around 246 USD and try again from there. If it breaks down from the triangle, I will reassess the situation. Read my...

NewThoughtCrypto

• The biggest cliché in trading is that “History doesn’t repeat but it sure does rhyme”. • So, for fun, I copied the march rally fractal and pasted it to the current rally. What do you know? It does rhyme. • Of course, we need to monitor this rally as if it is isolated but, just for fun, let’s see what we can see: 1. If the march fractal repeats/rhymes, then...

NewThoughtCrypto

BNB is moving in an Ascending Triangle. BNB managed to get above the 21 & 50 EMAs on the 4H. The area between 253 – 267 is strong resistance. Above 267, the risk of a breakdown is much reduced. IF BNB fails to break through resistance the next supports are: 238 USD. 231 USD. 220 USD. In my opinion, BNB’s outlook is positive, and I do not think...

NewThoughtCrypto

TLDR: • ADA is sending mixed signals that make it a low confidence trade, IMO. • Overall, it is still in consolidation without a sign of bullish breakout, yet. Positive Signals: 1. ChoCh on the 4H timeframe 2. ADA climbed above the 21 & 50 4H EMA on the 4H timeframes. Negative Signals: 1. Bearish divergence on the 4H RSI. 2. PA is corrective without a clear...