In the last 4 days of trading session, the Ripple has been very volatile. It went up from $0.25 to the very high level of $0.75 which in other word gives the extra 200% in the last 4 days. But, on the today's volatility it has a decent drop too from $0.75 to $0.39 region at the time I write this content. There are a lot of pros and cons regarding the latest days...
Here it is when you see the price is moving in the consolidation pattern after the previous bull run, the bias is likely to become bearish. If you remember about my previous post about the market cycle, there are 4 phase of the overall market cycle that usually becoming my benchmark to identify the trend. There are accumulation, mark up, distribution and the...
To start this analysis, I want to tell you that this analysis will not cover the Fundamental analysis of Ripple which we know that the latest allegation from the SEC has brought a very difficult time for most of XRP's holders. However only in this paragraph I'll take a little discussion about it. It refers to the Brad Garlinghouse's statement that 95% of the total...
Just to make it clear with my latest bias which I said that the bull run is not over yet and we'll need the drop for the proof of healthy correction in the market and the proof that there is just small amount of manipulation occurs in this market. Cryptocurrency market on most of the altcoins are now having the positive correlation with the bitcoin's price which...
This is the weekly time frame perspective from the bitcoin at current structure. At this weekly view, we can see that there is a parallel channel forming since the swing high on November 2013 and projected to the December 2017 swing high. It's all projected and the price is still respecting this type of channel based on the logarithmic chart. However, this can...
Bitcoin has shown us a massive run to the upside with a huge positive sentiment and a strong momentum which shows us the the confidence and the trust in the market is so strong whatsoever. In the past few days, the chart moves vertically to the upside which is just good indication for this bull run. However, since the November 26th, we haven't seen any...
Hello all, welcome back to the daily analysis about bitcoin. Before we start, I want to say Happy New Year 2021! and I hope that we'll get better in 2021 and may all the prosperity comes to us! This is also my first official update in this 2021 and I will make it with this weekly time frame so we can identify the mid-long term price projection. First important...
Here is the bitcoin's price action in the lower time frame, I use the 2 hours time frame which gives me a clear overview of potential bias for the future movement. I'll only cover the EW count and labeling with the short term target for this coin. We know that since the December 17th, 2020 the volatility of the bitcoin is diminishing, I'm not surprise as the...
This is the Sunday update about bitcoin. This is not usual that I give you the update about bitcoin on Sunday which I believe that it is always be my day off from doing any trade and open any position. But, this current bitcoin's movement looks so important which is impossible to skip this current momentum. The momentum what I say on the previous paragraph is...
Bitcoin has already broken out from the $20000 region which previously was acting as a strong area of resistance. However, Since the break out event, we haven't seen some action of the phase 2 which is retesting the previous broken resistance as a support. We know that even the price goes higher than the break out point, eventually it will goes back to the break...
Here is the Chart of crypto market capitalization which I'll compare it with the bitcoin's price since the 2017 when the phenomenal bull market occurred. the blue line is the bitcoin's price while the white line is the crypto market capitalization. It's not right to say the crypto market capitalization as a tool to identify the future movement of the bitcoin's...
Here is the current structure on the bitcoin in higher time frame, I use the 12 hours time frame which is a significant time frame as usual. Price is trending at this long consolidation pattern which we can see that the volume is diminishing over time as the price is trending closer to the APEX of this ascending triangle. The main factor that we need to see at...
Here is the Bitcoin's price and movement on the lower time frame. If you've joined me since few days ago, I've anticipated the blue region (or the golden pocket zone) as the short term target and possible a strong area of support level. It's all came true with a huge bounce right after the price touched the blue region and now the volume is increasing over and...
Here is the bitcoin's chart in the lower time frame which looks not so good right now. Price action and some of the indicators that I use show us a potential lower low to be formed in near future. At current rate, the price is trending below the resistance trend line which previously became a broken support. This could be the phase 2 of break out strategy which...
Talking about perspective which always be different between one trader to the other. However, trading the market is always about the judgement of individuals which is very subjective. Although we have to be objective as a trader, the judgement of the market will never be objective because the interest between one and another is different. Bitcoin is now trending...
Price of the bitcoin has formed a phenomenal bull run since the last 9 weeks. It consecutively forms a higher low structure since the break out from the $12000 range. However, we haven't seen any sign of movement that could lead the price into short term drop, at least it's what I see in this weekly time frame. Current bullish momentum is still becoming a key...
Price of the bitcoin has shown us a super bullish price action as the price is testing the white resistance trend line which is the area of previous All Time High too. A huge bounce since the $16188 region gives the momentum for the price to reach this area again. At current rate, there is a lot of uncertainty occurring as we are trying to breaks above the white...
Today's market movement from bitcoin is very awful. Price has shown a rejection pattern from the resistance zone of 1.1 fibonacci extension which I've covered on the previous post. In this analysis, I'll cover the Elliott wave and the rule of alternation. First of all, here is what I see for the best Elliott wave labelling based on current structure. I do believe...