Looking at Ethereum on the 12-hour time frame we see the bounce from the $1,161 level which could’ve just formed the local bottom for this next swing upwards. 1st target I’m aiming for is $1,287 and then we’ll re-evaluate from there, but huge capitulation move down in November, so would expect the same set of volatility to reclaim back on the upside. Trade is...
Looking at Bitcoin on the daily time frame we see lower lows as compared to Ethereum that saw a double bottom on this most recent contagion event. Now, if Ethereum continues that path and general trend upwards from this event, Bitcoin should follow would and bottom out around the $16,889 level before making its way upwards towards $19,356 and testing out those...
Grayscale Ethereum Trust and Grayscale in general for that matter, has been beaten down this year, with the clearest example identified in the ETHE Discount or Premium to NAV (Net Asset Value) which is down -51% to par. Given the current spot price of Ethereum (at the time of writing) at $1,321, this would put the spot price of each Ethereum held by Grayscale in...
In June as 3AC, Luna, and Co. came tumbling down crashing the market, Ethereum found a local bottom at $880. This number is a few dollars off depending on what exchange you’re using, it was a scam wick so that tends to happen. Anyways, huge level at $975 (which isn’t marked on this chart) that I took blindly on the 18th and played that move upwards. That pattern...
Dfinity’s Internet Computer (ICP) has been featured on crypto news websites more as of recently, especially after the FTX crash. There’s been rumors that they manipulated the price action of this coin because they were scared of the public finding out about its groundbreaking technology. The truth can only stay hidden for so long, it’s only a matter of time before...
Looking at the 2-day chart of Bitcoin moving into the month of February, we can see major similarities between Summer 2021 bear market / correction & this most recent Crypto Winter. Both market corrections sold off about ~50% of their market capitalization, followed by a little over a month of accumulation / consolidation around their respective higher low...
Quick update from my previous idea earlier this week, looking at the daily time frame of Ethereum and zooming out a bit from the 4-hour, we can see Ethereum has lost its support at the $3,500-$3,600 area and is now trading along support at the $3,431 level. From here, i’m expecting Ethereum to follow Bitcoin’s movements, however, base case am expecting for...
Quick update from my previous idea, I shouldn’t have used the words bottom that was improper wording and wish I could’ve rephrased that. Anyways, looking at the daily time frame of Bitcoin and zooming out a bit, we can see that BTC has lost support at the $43,850 - $44,854 area and is now trading inside of this downtrend again. From here, i’m expecting Bitcoin...
Looking at the chart of Binance Coin on the 4-hour time frame we can see that it is currently ahead of Bitcoin & Ethereum in terms of market movements, and is sitting above its level of support that the other coins are currently trying to break free from. Binance Coin also regained this long-term uptrend in the bullish channel, which indicates that the bull...
Looking at the chart of Ethereum on the 4-hour time frame we can see that Ethereum is fighting to regain the 2.618 Fib level as support, similar to Bitcoin trying to regain the $47,410 level. This chart has been difficult to read for the past month, but seems to be a clearer picture now with what they're trying to do and that is accumulation. They're stopping out...
Looking at the chart of Bitcoin on the 4-hour time frame we can see that it is currently trying to regain the support level at $47,410, and then find its way back up to $51,000 and above. The price of Bitcoin has been choppy recently, but steadily found its bottom along the $47,410 level. The scam wick seen on December 3rd marked the bottom of the market and...
Looking at Polkadot (DOT) on the 12-hour time frame, it seems to have bottomed & reversed so i’ve created a valley to help visualize where the price is headed. Polkadot has been in the news quite heavily recently, with all of the institutional money allocated into it behind BTC, ETH as well as the launch of parachains after some five years in development....
Looking at the 4-hour time frame of Ethereum we can see that just like Bitcoin, it is at a crucial point heading into the new year. Ethereum found its bottom with the scam wick along the $3,431 level and knocked out all of the over-leveraged longs from early entry prices. From this point on, Ethereum along with many altcoins, has been slowly accumulating and...
Looking at the 4-hour time frame of Bitcoin we can see that it is at a crucial point moving into the end of the year. At the moment, it is testing the $51,689 support turned resistance level as well as this long-term trend line that has been consistent throughout this bull market thus far. BItcoin found its bottom with the scam wick along the $43,850 - $44,484...
This last month of November was quite a ride, peaking at the $68,361 (3.618 Fib) resistance level to dumping and finding a local bottom at $43,850, a combination of euphoria and depression in the markets. At the moment, Bitcoin doesn’t look bullish, however, that doesn’t make it necessarily bearish either. We are currently what it looks like, in a stage of...
Looking at the 2-day time frame of Polkadot we can see the whole picture from the start of the uptrend at $30.45 to our current price currently testing resistance at $53.53. DOT is in price discovery mode and looks like its going to complete the Fibonacci cycle and reach $76 per coin. It depends on how we close on this 2-day candle, but chances are we’ll pullback...
Taking a look at the 4-hour time frame of Ethereum, we are heading towards the $4,933 (3.618 Fib level). From here we’ll see a little pullback around the $5,000 psychological level before heading towards $5,620. This month of November is looking very good as we are going to approach higher highs with the price target of $5,620 in mind to complete the Fibonacci...
Taking a look at the 4-hour time frame of Bitcoin, that hammer candlestick looks very bullish as we backtested the $59,800 & $61,115 support level and are about to print upwards. This was painting the bottom wick of the monthly candle and Bitcoin is looking like its about to turn this $63,564 - $64,581 resistance level into support. This month of November is...