CCI Index, RSI, MACD and price action collectively signaling that we've hit a local bottom here in the market on Bitcoin monthly. Additionally, we've now tagged the 200EMA + 200MA weekly in the past few weeks, another bottom signal that has historically led to a bounce, even if temporarily.
CCI + RSI have historically hit this key level the 44 level and bounced...
Expecting macro bad news to cool off in Q2 but really pressure markets by end of year.
Crypto will not be immune to this. Expecting $BTC to retest $30k or $25k min. Ethereum to hit $2000 to $1500. Most Altcoins to be down -50% from ATHs at minimum or -80% in many cases.
My thoughts on the market right now are something like this. We've had a nice 7 day green candle streak on BTC. Now we either change momentum and go for the higher lows and higher highs towards Yearly VWAP (Green path) ~$45000. Or, if BTC breaks down inside $35000 we are royally f*cked.
Game time. Now or never.
TradFi looks like we are shaping up badly BUT if Monday opens positive, BTC could capitalize on that positive momentum and push for a nice squeeze up!
I'm long: Entry: $34000
Stop: $32000 approx
Not financial advice
$BTC Posting this before rest of crypto twitter talks about this. I think this large H&S will develop but I think those chances are very low that it plays out to dump BTC to $20k. If BTC is to dump to $20k or $25k, it needs to happen NOW, not by the time we develop the H&S.
I believe CRV has come into strong resistance from its prev. distribution range. Also hitting daily Pivot resistance. With BTC uncertain, I expect CRV to pull back to its range breakout around $2.00 to $1.90.
I'm short CRV with a tight stop as a level to level trade
I'm spot long on MATIC and with the recent flush, as long as the entire market does not enter a bear trend, I expect MATIC to be a significant outperformer. We had a massive leverage clean-up. OI sits near $13B. Huge selling activity in MATIC and it's barely off -20% from ATH. Expecting lift-off in less than 1 week towards $3-4 range.
Not financial advice
As stated in the morning, I believe the whole market is coming into resistance so as a contrarian trade, there may be a short opportunity between $2650 - $2700, stop around $2750s as a place to get out but you can target $2475 down to $2425 as an area for take profit. Quite possibly as deep as $2300s.
Again - I would NOT take this short and I don't think it's...
Huge news and partnership for Power Ledge that may push it much higher. IF this news is true, this may be a solid trade w/ a stop near the red marker. Targets near the markers in green. Weekly looks solid and developing w/ good volume.
Here's a quote from the Power Ledger website:
Solar Exchange has been developed in partnership with the 5-star rated1energy...
Total 2 is Altcoin MCAP (Excludes BTC MCAP)
This chart illustrates the previous Crypto bull market Altseason we had back in 2017. We are repeating a similar large range re-accumulation + mark-up period.
I don't believe we will have the anywhere near the same % increase in the final leg of Alt season, but I do believe it will be quite large - near a 4x to 9x from...
One of my favorite projects. We talked about SNX to our Advantage members when it was still in its original consolidation pattern end of December 28, 2020. It has potential to head toward $15 - $20 range
Bitcoin dominance is strongly trending and so is price. These are two important metrics in identifying a strong BTC Bullish trend. Historically BTC bull markets - and especially the final 'blow-off-top' movement in BTC is accompanied by both price and strong dominance appreciation.
So when will Alt szn come? Let's look at historic BTC price + DOM and compare...
BTC showing signs of an ascending triangle here. Potential bottom being formed. Breakout above $17450 and we get a measured move target toward $18500.
We've also held steady on the monthly VWAP (white line). Generally in bullish trending markets, BTC loves coming back toward the monthly VWAP and create a temporary bottom.
We do have the weekly Pivot above us...