Bitcoin broke the 4H support last night invalidating the iH&S and ended up testing the 21W EMA. The 21W EMA is now 52.7k and the 20W SMA is 51.7k. BTC needs to close the weekly candle above this band tomorrow night otherwise, it is May 19th all over again.
As shown we could be witnessing an inverted Head & Shoulder on the 4H chart. If this holds, then we ought to head north from here.
Last night my mood was ruined when it was brought to my attention by a trusted TA (can't share his website link publicly due to TradingView rules), that the market is being flooded with supply of many Alts. It can be clearly shown in November. Alts Total Market Cap maintained its ATH in November, while most Alts plunged and far from their ATHs. Have a look at the...
At this critical stage in the market one needs to weight different possibilities to avoid being holding a bag of rocks into a bear market or a deep market correction. So what are the possibilities here? There is a leg-up coming for BTC, that we know. Typically after a top is set, a dip will follow then a bounce to the 0.702 Fib level (that is referred to as the...
Looking at the Total Market Cap from the Fib perspective drawn from 2017 ATH to the cycle's ATL, and its historical performance it is clear that the 4.236 Level has been reached. What does this translate to? 1) Bitcoin will attempt to breach its 4.236 north of $72k as shared in the link below taking the Total MArket Cap north of 4.236 Fib Level. 2) Alts shall...
If history is an indication, using Fibonacci levels drawn from previous cycle ATH to current cycle ATL, it is clear that Bitcoin has one last leg up to breach the 4.236 level before collapsing down into the bear market. The price to look for is 72k that is to be breached violently. Today's weekly Bitcoin candle close followed few days later for a monthly candle...
It's a blood bath where everything is for sale. BCH didn't make a new ATH yet this cycle. Let's go fundamental first: 1) BCH has smart contract developed by an independent team 2) It is disliked due to its founder and being BTC fork, yet it continues to thrive behind the scenes among its loyalists. As for the technical aspect: 1) BCH has very high growing...
ANKR today did set a new ATH in its BTC pair (ANKR/BTC), and came short in setting a ATH in its USDT pair. Looking at the RSI, we see ANKR yet didn't breach the weekly 80 RSI on the weekly. Historically it tops between 90 to 98 RSI. My target remains the same for ANKR/USDT $0.472
Away from the noise of the bulls and bears, looking at BTC chart Price Action: 1) BTC broke above the Q1/A2 highs; forming a higher high marked in purple line. 2) BTC broke the 8W SMA, blooding the Alts typically. 3) BTC now is to set a higher low on the weekly chart anywhere above 20W SMA/ 21W EMA band before the weekend candle close this coming Sunday. 3) A wick...
Another sleeping giant is Bitcoin Cash here. Let's go fundamental first: 1) BCH has smart contract developed by an independent team 2) It is disliked due to its founder and being BTC fork, yet it continues to thrive behind the scenes among its loyalists. As for the technical aspect: 1) BCH has very high growing LONGS on BitFinex since the summer. 2) BCH...
If we look at the XRP/BTC chart we can see how the price has been squeezed for long over the past few days with the 8W SMA, as the price continues to edge slowly upwards yet failing to breach and close successfully above it across different time frames. I chose the 4H chart to show how close XRP/BTC is getting from either popping up or getting nailed down. Many...
ANKR continues to pump nonstop over the past few weeks, and continues to form higher lows. 1) ANKR is above the 50W SMA 2) ANKR is above the 8W SMA 3) ANKR is above the Ichimoku Cloud 4) ANKR retested and bounced off the RSI Support. 5) ANKR/BTC is bullish and continues to outperform BTC as BTC dips.
In Bitcoin first attempt to retest the 8W SMA, BTC failed to hold it as support. At the same time BTC Weekly RSI is at the support level. 1) The 20W SMA is now $50.8k and the 21W EMA is $52.8k. 2) The 8W SMA is now $60.5k. 3) BTC Weekly RSI is now at a support level, which can be broken then reclaimed during the week. CONCLUSION ! 1) A retest for the 21W is...
Well, actually it is the DXY that has shown strength blooding Wall Street & Crypto. Anyway, here are the supports to look for for now: BTC supports: 1) first support at 63k didn’t hold 2) second support at 57k (8W SMA and the Ichimoku Cloud top) This support shouldn't be broken to maintain the bullish integrity of the whole crypto market. 3) third support at 53k...
As per Ichimoku 4H cloud, BTC could go down to 62k today before rallying up. These red clouds act like super magnets when the price is above them. So expect more bleeding till 62k before Wall Street reopens. As for technical supports: 1) BTC is retesting its Q2 ATH which is very technically normal 2) BTC can remain healthy down to 55k as per 8W SMA, down to 50k...
Just loaded another dinosaur to my portfolio; ETC with an exit target set at $269. The FIB R Levels speak for itself as attached in the chart demonstrating how the target has been set.
SXP is no dinosaur, with little technical data to analyze since it doesn't stretch back to previous market cycles to draw a FIB R Levels from its 2017/2018 ATH. So I choose to be conservative here and draw the lines as per this year's May 19th dip from its cycle ATH to ATL that followed. I witnessed that ADA, AVAX & MANA (the early boomers) got stalled between...
LINK too is no dinosaur, with little technical data to analyze since it doesn't stretch back to previous market cycles to draw a FIB R Levels from its 2017/2018 ATH. So I choose to be conservative here and draw the lines as per this year's May 19th dip from its cycle ATH to ATL that followed. I witnessed that ADA, AVAX & MANA (the early boomers) got stalled...