I believe the technical bottom has formed similar to the technical top formed in APR 2021. Many of the same indicators used to determine this top are also suggesting that a bottom has formed. However, I feel that the actual bottom may be some what lower around 14k. The 400WMA might be a key level of support to bounce off when forming the true bottom over the next...
200 MA on 4hr time frame has shown touches against it has led to capitulation. Expecting a similar drop down as seen with previous two events. Volume has also shown that it has been decreasing since bounce, hence major move is coming. Finding support on very important Macro level which is confluence around 14k. This could mark the bottom for this cycle.
Leading and following a bear market the dominance of bitcoin in the market increases. What this means is that ALTCOINS are bleeding more and being liquidated into bitcoin, stable coins or cash.
During the peak of the 2017 cycle the dominance of BTC reached 35% and reached 40% this 2021 cycle. The similarities in these two data points can suggest a pathway for...
Whilst everyone is glaring at the USD chart, it's important to identify a possible bottom with the BTC value. I have outlined two possible entries. Last cycle ADA did more then 100x. I think its possible to see 20x return next cycle.
Macro Ascending triangle $BTC. Five touches lower and upper then breakout later this year. Break down from wave 3 or 4 on lower line will potentially lead to further capitulation to 200WMA. This is either an accumulation or re distribution stage, time will tell.
The stock market is due another correction. Focus on the RSI, this kind of divergence could be seen with BTC in summer 2021 which lead to a huge correction and brief bear market. Consecutive ATH's on both chart, whilst RSI showing weaker peaks. It would be expected to see another correction resetting RSI levels.
In previous $BTC cycles, failure to hold the 50WMA has led to capitulation. We have been in bear market for a while if that isn't clear. Bottom to form around the 200WMA corresponding to prior cycle high.
From the charts, it clear that Cardano has been in sharp down trend and inside a downwards channel. There have been multiple touches on both upper and lower lines and price could fall to next level of major support at $0.40 region. This would be a great accumulation opportunity in my opinion.
Bearish divergence can be seen between first and second...
The direction of the market is dependent on the price action and sentiment of Bitcoin. You can refer to my BTC chart and analysis to understand my narrative. I think that BTC will more then likely to continue to oscillate in this ascending triangle formation as currently on its 4th leg down. What this means for AKRO I understand that there is potential for much...
A bullish divergence occurs when the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position.
Crypto markets could go back down to the 200WMA. This indicator has been significant considering for bear market bottoms in the past. This would reset the RSI levels below 30 for another cycle up. Current price of the MA is the prior cycle high, ofc this is trending up with time
There is something so bullish about accumulating $ADA at the dollar value. I'm sure every person who has purchased Cardano here in the past would sell or hold in profit. If BTC can reach over 100k at some point, wouldn't put $6.50 Cardano out of question.
Previous data suggests that bottom can be formed when weekly RSI has been between 29-33. Furthermore, looking for high liquidation volume as can be seen with prior bottoms. Expecting further retracement and sub 30k levels.
There are multiple indicators that are suggesting that 40k region could be a local bottom. Heatmap also showing strong buy wall at these levels. Looking at this macro triangle, it shows that breaking ATH was a fake out and not sustainable after failed retest of prior resistance. I would expect a bounce to resistance line again from current levels. This can get...