The support and resistance lines in the USDT.D graph gives us highly accurate reversal levels for BTC. As the stablecoin dominance is measured as a percentage, we are able to get a better grip on the investor Fear & Greed regardless of the marketcap.
Some key observations:
3.24 level acts as the divide between a bull market and a bear market. Getting below...
DOT today has been one of the best performing alt coins; however, the surge is mostly accredited to the listing on Coinbase. I wanted to explore further if DOT has the potential to gain Market Dominance and continue on this explosive trend. Quick reminder: we are still in a bear market and it is extremely risky to own altcoins at the moment. BTC right...
BTCUSD is now right on the edge. On one side, we need to hold this region because it is the bottom edge of our wedge formation. On the other, our indicators are not sharing the same bullish perspective. If we break below this level, I would expect a volatile week. Keep in mind that breaking below could be merely a shakeout, but the odds of further slip...
Refer to my earlier post, linked down below and titled "BTC Valuation Adjusted for ....", for more reference.
By the way, for a more realistic near term outlook (which goes on to show why we cannot go 10x from here immediately), refer to my post titled "BTCUSD Historical Perspective", which is also linked down below.
Hey fellow traders,
So my custom ticker formula is BTCUSD*DXY/M2. So this boils down to:
Multiplying BTCUSD by Dollar Strength Index
Dividing by M2 (The total number of dollars in circulation)
Let's examine WHY we are doing this. When DXY is falling, the US Dollar is losing value, which prompts commodities or alternative investments like Bitcoin, to...
USDTRY with valued for the number of US dollars printed over the last months. By dividing USDTRY by M2 (money supply), I believe we can get a valuation that respects inflation.
Now we have to pay attention to the yellow trend-line and how the price action plays against that.
While we are definitely not out of the woods yet, there has been a lot of chatter about a 'relief cycle' and I wanted to present my perspective on how such a cycle could look in the near term.
31K is a significant fib support line, breaking that would mean the next fib support of 20K. If this is the case, we can hypothesize that for us to break this...
We did break down of of our wedge. While this is a bearish signal, the fact that the 20W MA is right below us might give us the impression that this structure was not meant to be a wedge in the first place, but a parallel channel. If that turns out to be the case, we can expect movement between 47 and 51K. Also, the 18W Short MA is also around 48.5k and...
Keep an eye out on how the wedge unfolds.
This is not financial advice. Use risk management accordingly. Remember that BTC per some indicators are in a significantly overbought region. Seeing a pullback from this point is more than likely. In the event of any BTC pullback, ALT's would suffer more.
AVAX is just too good to not have a bag of. However, it might not be the time to go "all-in". Contrary to DOT or ADA, AVAX has not yet entered in a volatility period. When it will, however, it will be glorious, because in my opinion, the market price does not take into account the amazing platform growth the Avalanche team has achieved over these past moths.
In my opinion, we are entering another defining phase in Polkadot's price history. Dubbed Phase 2, I expect this phase to bring back significant volatility to the asset. The way volatility will go, upwards or downwards, remains to be seen by LMACD. However, I believe there is a good chance that we are breaking above of our consolidation range and hitting greater...
May 12, 2021
ENJ has been in a consolidation pattern with respect to Bitcoin. Now, we are in a position to break the consolidation triangle structure. Given that I believe the lower structure will hold, we seem to have two choices, either ENJ will do a clean break and gain bullish momentum swiftly, or it will enter another consolidation range and then have an...
The ticker is a custom one. The formula is BTCUSD * DXY. Sometimes BTCUSD pair increases not because BTC has become more valuable, but US Dollar has weakened. Therefore, this ticker allows us to account for that inverse relationship.
Regardless, the pattern will not be so much different from the original BTCUSD pair.
However, one improvement is that the MACD...
Doge cannot have all the fun now, can it?
Wedge formation. 0.00003 level critical. If we break above, we would see new price discovery.
Really risky position. Not financial advice. Use risk management practices properly. DO NOT leverage with XRP.
The patterns make the bullish case for themselves.
Our idea can only get invalidated if BTC Dominance closes above 50 or we face a big correction. Remember that the current levels, 57k, correspond to the top band of our parallel channel, therefore, it would not be surprising to see a more severe pullback. If BTC closes above 58k, re-evaluate your entry with the...