There is a saying that the market often gives third chances, but not the fourth. We saw Ethereum dip to the 240-245 level three times in the past two days, giving buyers three chances to pick up on the dip.
A triple bottom with a bullish divergence on the 1H is a pretty convincing sign that Ethereum dip is over. A clean break of the 263 level also avoided another...
Previous H&S pattern did not play out, however we see continued consolidation within the ascending triangle with a hidden bullish divergence. TK cross above the cloud further supports the probability of a break-out scenario.
In my previous analysis, I proposed that Ethereum is in a parabolic up-trend with a potential target of $350 by March.
Many traders are waiting for a heavy fib correction to .618, which is a rare occurrence in parabolic trends. Correctly identify the trend, and you will be able to catch the dips.
Yesterday, ethereum reached a moderate HTF resistance at the 278...
~350 seems a likely target for this wave.
One strategy I have been employing to maintain my long position while hedging downside risk:
After a large pump, e.g. 250 to 278, open a short hedge position with a tight stop, say $282 which covers your entire long position.
If it falls, you are fully hedged. Close the position at the dip and use the profit to increase...
ETH will likely correct here. Bearish divergence on the daily, over-bought on the weekly. BTC/ETH ratio also looking to re-test support.
If it goes up, I will buy on the re-test of the 230 area.
After the correction, the strong up-trend is likely to continue.
Altcoins have historically outpaced Bitcoin during Bull markets, while Bitcoin has held it's value better during bear markets.
H2 and H3 represent the previous and next Bitcoin halvening dates. The left Y-axis is the Bitcoin Dominance ratio which is plotted by the yellow line.
As you can see , after the previous halvening took place in 2016, Bitcoin experienced...
Binance has been absolutely phenomenal in terms of product launch and marketing campaigns, quickly taking the #1 for spot exchanges, and with its new perpetual Futures products is aiming to be #1 for derivatives as well.
CZ AMA today:
- #BNB futures next Monday
- NO.1 venue for #TRX now
- #BUSD on Cross Collateral
- Tick data enables the fastest price...
Bitcoin in 2015 is very similar to Ethereum in 2020. To me, the market cycle stage is extremely similar. Fundamentals also look solid with ETH 2.0, token burn, and rapidly increasing lock-up in DEFI.
Further confirmation will be provided by the golden cross (50-MA and 200-MA) which is expected in the coming weeks. This will trigger even more capital inflow as...
Analysis by Sigil fund states that with current aggregate dex volumes of around 1M daily, 0x is around 50-75x over-valued using DCF (Discounted cash flow) model. Source
However, DCF model doesn't take into account expectations for the future. With the advent of DeFi, it's not unrealistic to say that DaPPs using 0x protocol may reach 1b and beyond (current Binance...