After yesterday Evergrande news the markets have seen substantial drops. This has been a good time to accumulate altcoins and xtz looks good for a long play here.
I'm still a little worried that a further drop is a possibility so a tight sl approach.
Xtz looks to be making higher highs and higher lows on the 4 hour. I will be watching the $4.30 area, If this is...
The last few days have caught many people off guard with the unexpected 40-50% crash.
The bitcoin news in El Salvador was short lived and markets reacted with huge crashes.
Keep your losses small and the wins bigger, many of my sl were triggered but many of my limit orders hit.
Sxp was one of them I traded the idea on the 13th of August and my limit order of...
Kava has been one of my main holds for some months now.
I have been accumulating since the crash in June and new highs have been reached since.
I expect a little correction in the short term, I'll be adding at $7.30 and at $6.70 if we get there.
Bitcoin looks like it is cooling off and this means alts will follow I expect $44000 to be a good support area.
Swipe has moved 160% since its crash and now lies at a serious resistance area (yellow box)
A flip of this area will catapult swipe back to range highs and closer to its previous ATH (resistance lines on the chart)
Weekends are always choppy in crypto so I would wait for any long trades here for the weekend to settle.
A retest of the 2.73 area is a perfect entry.
Atom has been slowly moving up and looks like it's ready for a break out, similar pattern to eth.
It has formed a inverse head and shoulder and a triple bottom both bullish signals.
Since the low formed in may atom is up 100%
The tp are on the chart (Blue horizontal lines)
Kava is still holding up well and I expect further upside from this coin in the coming weeks.
It has formed a new higher low and I am expecting it to form its first higher high in some time.
Btc is still a little volatile and needs to break out of its range before any continuation for alts.
A breakout and retest of the falling wedge is another sign of bullish...
Kava looks poised for a move up and looks like it is breaking out of a monthly falling wedge.
Kava is one of the best looking coins and has held up really well during the crash last month
Kava looks bottomed and has formed its first higher low looking like a trend reversal since its crash in in late may
Sxp is forming higher highs and higher lows on the micro time frames.
The next level of resistance is around the $2.25 area I will see how it reacts there.
$1.60 seems like the bottom for now, volume needs to start kicking in on alts for follow through.
Keeping a close eye on btc seems choppy in the short term.
Ada/btc is looking brilliant, it has wiped off the entire drop from the 19/05 and is currently breaking out if a IH&S looking to make fresh highs.
Ada has held up very well in this crash and i expect further upside.
Btc is still on shaky ground so any sudden drop could still destroy alts in the short term.
Be cautiously optimistic.
The last few weeks have been extremely volatile.
A lot of cryptos have broken down and lost bullish market structure on the micro time frames.
When in doubt zoom out, kava still looks great on the macro time frames and has just formed its HL.
Bullish market structure is still intact on the macro HH and HL.
Bitcoin is still highly volatile and until $42500 area...
Alts have crashed in there usd pairs but have pretty much stayed put in there btc pairs
Reef is a perfect example, it has tested its previous swing low and has bounced well off of support.
I expect this to range for the coming weeks before another restest of the upper trend line at around 0.87
Accumulation on many of these alts before the next impulse wave.
DIA is forming a inverse head and shoulder on the daily
I'm heavy on defi and I expect defi to make some moves in the coming months
0.382 is where I will be looking to fill my bags and I have gradually DCA in to dia in the past month.
Sxp is looking ready for its next leg up.
Sxp is currently forming a inverse head and shoulders with a break out target of around 14500 sats.
I expect this to move within the coming weeks.
There is not much resistance after the 10500 sats area.
A perfect entry was the 0.236 on the fib, a more aggressive entry will be the the 0.382. This is where I have placed my buy orders.
This will form a higher low and a perfect buying opportunity for continuation.
Sol has been on a run recently and has been making new highs whilst most cryptos have been dropping 30-50%
One of my long term bags that I keep adding onto during dips.
Btc currently looks shaky so any further pullback will crush alts in the short term.
The 0.618 will be a great entry and is where I have set my buy orders.
The 50 ema is holding on for now but any further retracement on bitcoin, alts will follow.
I have been holding a bag of this since March 2020
It is forming a cup and handle with a breakout towards $0.20
The btc chart looks very strong flipping yearly resistance.
I expect this to continue further.
Sxp is ranging between the two white lines on the chart.
I expect some further range bound action until we break up.
Resistance can be found around 8700 sats. When this breaks 10500 is our next target.