ADA is challenging its resistance after test of support and within a pretty long red TD count strip.
Bullish divergence ongoing. RSI recovering from oversold. CMF falling.
Watch for opportunity (e.g. breakout on volume ).
Mind the fact a collaborative Bitcoin is needed.
Do or die moment for Bitcoin. Personally i'm playing my cards by opening a "scattered" Long trade.
Part from here, part from close to the 27.700$ mark, just in case of a bear trap.
Mind the fact this is a highly risky contrarian trade and it may fail , but 1:2 R:R is interesting enough to try playing it.
Contrarian trade. Seeing opportunity for careful accumulation on ongoing weakness, which Bitcoin may dilute or further amplificate.
We have a falling wedge and a high red TD count hinting a bounce within 2/3 days.
Unless Bitcoin slumps.
If so i'll further accumulate by lots down to the 3$ area and evalute in 2/3 months.
Designated targets are 6,7$ and 7,7$.
Possible speculative Long opportunity looming, medium to high risk contrarian trade.
Here's the scenario:
Sparse falling wedge. Pullback ongoing, after some breakout attempt on low volume. Pattern still unconfimed, be vigilant.
Slowing momentum, close to neutral, as witnessed by RSI, MACD and Bollinger bands.
30.000-31.000$ area boosting triple...
With a collaborative Bitcoin ETH may try to achieve a double bottom.
So far weekly is not much ... appealing, but wait for weekly close and double check.
IF it manages to close ABOVE 2.200$, hence recovering its lost support and painting a hammer or anything similar i would consider that a first bullish signal (fakeout).
So watch weekly close and look for any...
DOT cruising on support, within a sparse falling wedge.
* Falling wedge, albeit sparse.
* Small bullish divergence on both RSI and MACD.
* Oversold Stoch RSI.
* Red TD count 7 and counting
Watch it next few days, as opportunity may arise.
With a supportive Bitcoin it may bounce and confirm that falling wedge.
Flip of the coin: caution under...
* Close to 0.618 retracement of the overall leg up from 2020
* Such area already tested twice
* TD count 8
* Stoch / RSI close to oversold
* Negative CMF seemingly painting a bottom
So watch altcoins market as if 0.618 holds it may bounce within next few days.
Ethereum is forming a sparse ascending triangle whose top sits in the 2.950-3.000$ area.
Daily BB shrinking, price currently above mid-line.
A move is coiling, a lot depends on BTC now.
Watch it as well.
Bullish confirmation on breakout of 3.000$ psychological resistance. Look for volume.
May be worth a speculative Long,...
Any time from now, within few days.
We're witnessing one of the most prolonged impulsive moves down in Bitcoin history.
I can see only 2 comparable strips longer than 15 candles in terms of TD count:
* 17 red candles strip in June, 2013
* 20 red candles strip, in november, 2018
In both cases they've set or closely preceeded a major market low.
The latter is the...
Correction hadn't caught us by surprise.
So far even MA200/D got tested on volume, and daily oscillators are supportive for a bounce.
BTC strongly needs a further bounce and test of 42-44k resistance area.
That's imperative in order to avoid a worse outcome.
Then wel'll further evaluate.
It's surprising that -despite the enormous hype- DOGE bull run basically complied with very basic AT rules / patterns (so far):
* Bull run was constrained within a clear ascending channel.
* The second high was basically 1.618x the first one.
* The recent pullback found support on channel support and MM20 middle line (neutral trendline).
So what should we...
Possible diamond in formation.
Given a collaborative Bitcoin EXRD may spike up.
Crucial level is 0.13, watch support .
this is a very risky setup on a highly speculative and pretty illiquid small cap coin .
The kind of stuff may easily do 10x or go straight to the floor.
So be aware of risks, DYOD.
We have declining volume and some bearish hints.
Unless volume picks up + Bitcoin manages to breakout/reject the wedge the odds for a sensible correction will grow, day by day.
Keep an eye on support, don't take more risk on a confirmed breadown.
Be vigilant in case of price moving down to the 50-55k danger zone.
Have a SL.