After reaching a 6-month high near $1, the price entered a correction phase represented by a descending trendline, with price compression below it. Now #Matic has seen an increase in open interest, signaling a new attempt to break the downtrend and start a new uptrend.
Bitcoin broke the daily bear trend line, and made its retest flawlessly, thus indicating the end of the bear market, and the continuation of the rise in the coming months. The RSI also indicates the possibility of an upside in the short term.
DYMUSDT is performing quite well since its airdrop happened, and the price is on an upward trend, because it is speculated that DYM stakers will be eligible for other airdrops. That being said, if DYM breaks this symmetrical triangle upwards, it is bullish and we could reach $10 in the short term wizards.
Bitcoin's dominance has been protected on the 3D time frame by the EMA 50 since January, so for me a candle close below the EMA 50 could mean the start of the Altseason (Altcoin Season). Remember that we are currently experiencing a correction in the cryptocurrency markets, which is healthy in the long term before the real bull run begins.
Bitcoin, after a very significant rise, had a dip that in my opinion is healthy for the long term, but nothing alarming for now. The red line (SMMA) has held the price perfectly on the 4H timeframe since November, which means that for now we continue with a bullish structure. Therefore, only if a breakout below it happens, I will expect a more significant...
RVN broke out the descending trendline, and it is currently testing the resistance area. I believe the price will consolidate a bit, and perhaps return to the ascending trendline before continuing its upward movement.
ARC is having a healthy correction after rising around 470% due to AI hype. I will buy on confirmation of the breakout of the descending trendline for mid-term and I will do DCA if it goes down further.
Arbitrum broke the symmetrical triangle on 4H with big buy presssure. I'm expecting a pullback in short term, since RSI is overbought.
Ethereum needs to break the red resistance (April high) which is very important to continue its rise, in my opinion there is no doubt that this will happen sooner or later. Altcoins must follow Ethereum 📈
Bitcoin made a new yearly high 3 days ago but failed to sustain the gains. Bulls risk losing momentum if unable to break the 38k level soon.
KASPA is trading within a symmetrical triangle at 4H, after a sharp rise. If it breaks above, the price should continue to go up in the short term, but be aware that it is extremely overbought on higher timeframes.
PYTHUSDT is showing signs of rejection at the fibonacci levels of the previous leg on the 1H timeframe which could mean that the pullback may be coming to an end. I'm buying PYTH around that levels, but will add more after the descending trendline breakout.
EURCHF rejected major Down trendline and did a breakout at the minor uptrendline. A Hanging man was formed at resistance on the 4h timeframe, which supports our idea that the price will continue its decline in the short term.
Basically, bitcoin's dominance was rejected at a historic high, this could perfectly mean the beginning of another altseason, the ideal was from now on for bitcoin to remain at the same levels or rise while its dominance goes down, I fully believe that dominance may reach 40-41% again, and that many altcoins will rise in the coming weeks.
GBPCAD did a fakeout rejecting major resistance/downtrend line with a bearish engulfing on 4H , so i decided to open a short here , price also broke minor ascending trendline, volume slowed down near resistance, and we also got some bearish divergences on local top, i expect to price go down until our major Ascending Trendline.
GBPCHF rejected major resistance with a bearish engulfing on 4H and a topping tail , that major resistance coincide with daily descending trendline so i decided to open a short here , we also got some Bearish divergences that confirms that price may go down, i expect to price go down until our next minor support area.
DYDX has a bullish chart, broke the downtrend on the daily timeframe and then started making higher highs, breaking the SMA 200 and then retesting with rejection forming a Bullish engulfing, I didn't take this entry, so in order to have the best risk reward possible, I'll wait for the price to get closer to our ascending trendline and we'll go long with the...
GBPCAD rejected major resistance with a bearish engulfing on 4H , so i decided to open a short here with half size , price also broke minor ascending trendline, consolidating a bit now, volume slowed down near resistance, and we also got a Bearish divergence on RSI on 4h timeframe, i expect to price go down until our major Ascending Trendline. High Risk High Reward.