I would not try to time the bottom yet. I would first wait for retest of this this volume shelf between $210 and $220.
Until then, everything else indicates a continuation of this downtrend.
Be patient and good luck.
Let's start with observing 2W chart, here we can see that:
1) price has been grinding across the trendline, which acted as resistance
2) following rejection at the resistance, we had a move down to ~0.174 range which formed a strong support
3) If the week closes at 0.18335 or higher, we have an official breakout from this sub-structure and impulse should take it...
As described before, Tether fueled Bitcoin bull runs were not good for PPC-BTC ratio. Bitcoin bear markets is when this usually turns around and Peercoin regains ground. This turn-around could also break the multi-year downtrend in PPC-BTC.
Price is now over weekly EMA(100), it has retested it once and has bounce back up.
Next obvious target is 4500-5000 satoshi...
I believe next move will re-test the weekly EMA100. Just like the last wick up.
It is interesting it wicks so much, but seeing how low the floating supply is it's not surprising at all. Coin is extremely hard to accumulate at these prices, so I expect price level will be rejected by the market.
Given that the market does not collapse as "the Merge" happens, this solana up-swing is quite likely.
Checking the SOL-ETH chart it seems there is already an inflow of capital from ETH to SOL.
It's not even subtle.
This pump was very weird, going up constantly on declining volume. Hit the previous high for a moment and immediately started crashing. There is a MFI bearish divergence on weekly chart as well.
Short. What else to do. Expecting a full retrace down to $6 ish.
PPC-USD corrected before BTC-USD did and has established the bottom before BTC-USD. This can be see by rising PPC-BTC over the last couple of months.
This chart looks incredibly bullish, and given the 8:1 R:R ratio I'm inclined to take the offered swing.
Peercoin celebrates 10th anniversary later this month.
Wheat got nuked in late May, as it re-tested the high. It did a full retrace, -36%. Impressive even for meme stocks let alone one of the most precious commodities on the planet.
Wheat has spent Jul and Aug in the area of intense demand, which just happens to be around EMA(100) , from what I can see everyone is waiting for first harvest numbers to start sending...
ATOM has been pumped, and it has been dumped. Capitulation event has passed, allowing market maker to restart the cycle.
One cool thing about "second class" cryptos like ATOM is that they don't even pretend that they are not manipulating the market, they just do it and they make it straight up obvious on the chart. The goal is always to remain attractive to...
I don't know what is SAND but it's clearly devouring investors like quick sand.
SANDUSDT collapsed a month ago, when $1.2 was broken.
Expecting retest of May low. After that we will likely see a small bounce followed by another series of price collapse.
This looks well bottomed out, with two panic selloffs absorbed just beneath this price range.
Chart looks extremely bullish in weekly, biweekly and monthly timeframe.
Expecting bounce to meet the former resistance.
Bail the trade if indexes tank.
Coinbase stock is about 90% down since the first open.
One would get spooked by that, but that's normal in the crypto world.
It is also normal in crypto world to trade against your own customers, insider trading is prevalent, listing unregistered securities and promptly dumping them on retail is also normal.
After SEC started investigating the company even the...
Nokia stock is well bottomed out and I believe sellers have sold.
It is ranging between 4 and 5 for a good while and there are signs of accumulation.
It is a very food R:R to go long here as entire market looks like it's going to bounce at least 10%.
Setup is nice as it's invalidated with mere -7% from current price level, which means that there can be a tight stop loss.
Panic selling of the last week has left a gap which is more often than not filled later on.
Besides bouncing of the bottom half of the established downtrend channel as well the price is now over the weekly pivot.
+4% from the weekly pivot more or less.
Will this result in a trend change? I doubt it.
While BTCUSD is telegraphing 13-14-15% bounce from 30k ETHUSD is telegraphing up to 25% bounce from the current price level.
It will likely hit former support, volume gap is also visible on the volume profile.
Mind, this is just a bear market bounce. It won't change the big picture.