quantmaven

quantmaven

A reader asked my opinion about Bitcoin's resilience, both in the short squeeze of last night and today's decline that ensued after Amazon denied crypto acceptance rumors. I'm legitimately worried about the latest development, as the Bitcoin Dominance seems to be pushing out of the triangle, in the opposite direction I was expecting. If it makes a new ATH in the...

quantmaven

Crypto started rallying after the halving, which coincided with long interest rates rising as the COVID-19 pandemic appeared in March 2020. By injecting massive amount of liquidities, the Fed was also sowing the seed for higher inflation. From mid-April 2021 to mid-July 2021, the rates took a break mid-way thru it's cycle. Lower interest rates means that the...

quantmaven

In my previous post, I was waiting for a confirmation, such as a bullish close on the daily and sustained price movement above 2200. I think it's fair to say that these have been achieved this evening. I'm fully invested again around 2205.

quantmaven

After I called the bottom around 1725, Ethereum bounced back as high as 2200 today. I will be honest I sold all my positions above 1950 today. Why? Because this is simply a risk management move. The price of 2200 is the level where price meets the dynamic resistance of the triangle. We have to keep it real and remember these two points: this triangle has the shape...

quantmaven

Synthetix completed a leading diagonal made of 3-3-3-3-3 today with its price reaching 8.95 . I sold my position and I'm going to wait for the price to fall back, perhaps in the yellow zone that I identified, which corresponds to Fibonacci levels.

quantmaven

Polygon seems to have completed a giant flat structure in 3-3-5 waves as shown on the chart and is ready to go higher if it successfully breaks the downward channel in blue. The next couple days are critical. Usually flat structures appear on wave 2 so I labeled that Polygon completed a cycle wave 2. Seems like Polygon ecosystem can thrive despite Optimism and ETH...

quantmaven

After I called the bottom two days ago, it is time for Cardano to show if it can break the giant triangle to the upside and confirm a new bull market cycle. For this to happen, the price momentum needs to continue from where we finished with a green candle today at 8pm and keeps ascending in the upcoming days. If this scenario comes to unfold, I would expect some...

quantmaven

From my previous post, I went all in when ETH reached 1725-1750 points, a level I considered sufficient for the ETH/BTC spread to bottom. Since then, crypto markets bounced strongly. Was this the bottom of the correction that began mid-May? I believe so. The correction took the shape of a triangle, as shown with the green lines on the chart. Now we are able to...

quantmaven

I just bought all I could around 1725-1750 of Altcoins! This is it, price is at an acceptable level where the bottom the triangle has been reached!!! This may be the end of secondary wave E of primary wave 4! This could mark the end of the bear market. Let's see how it goes from now on...

quantmaven

The Bitcoin Dominance, which serves as a risk-on / risk-off crypto barometer, seems to be on its way toward it's final destination, a secondary wave E of primary wave 4. This should mark the end of the bear market when reached. As a a reminder, if the ratio goes up, it means Bitcoin outperforms Altcoins, which usually happen when the market is bearish... Not...

quantmaven

I'm trying to track the last move of Ethereum to see when's the best entry point. The count seems pretty clear to me. Today we have the potential to reach 1750 but I would expect the price to form some triangle before the final destination of 1700.

quantmaven

I said in my previous post that I'm eyeing a bottom around 1700 for ETH. The price is currently at 1815 as I am writing this piece. I don't know if 115 points is enough for that indicator to touch the final point of the triangle. That's why I'm bringing the hypothesis ETH may undershoot below 1700 to possibly even as low as 1550 for a couple minutes before...

quantmaven

This is it, Ethereum is on its way to its final destination, a level of 1700. It might even go lower in a panic sell as sub-waves e of a triangle are known to either overshoot or undershoot. Janet Yellen is discussing how to regulate US stablecoins today and this is the cause of jitters.

quantmaven

Ethereum appears to have completed a leading diagonal yesterday (see the purple descending lines, also go see Cardano ADA chart for a cleaner view of that leading diagonal), thus completing its secondary wave A of primary wave E of cycle wave 4. Price is now correcting upwards in what could potentially be some 3-3-5 flat structure. I drew two potential squiggles....

quantmaven

The last sub-wave e of wave 4 has been really annoying so far because the movement doesn't seem to be evolving in 3 waves down but 5 waves down, with some descending triangle taking shape in the intraday (see little purple). This would mean that it would touch 1700 and then retest it again before completing the figure, just like I shown on my yellow drawing. I...

quantmaven

On this chart you will find a zoom of the primary wave 4 of cycle wave C in the shape of a 3-3-3-3-3 triangle. There is only one leg left inside that triangle to finish the whole pattern. Whenever the Bitcoin dominance reaches secondary E of primary 4 of cycle C, the bear market will be over. This might happen this week-end with a last correction. I think this...

quantmaven

The bitcoin dominance is currently finishing a primary wave 4 of cycle wave C in the shape of a triangle. It means that in theory, there is a primary wave 5 of cycle wave C right after, shown in purple. If that's the case, it means that the bitcoin dominance is going to fall. For it to fall, altcoins must outperform. This would mean that we are near the bottom of...

quantmaven

I'm trying to find cases supporting the triangle scenario and Dogecoin seems to fit the bill with a pennant formation. I would expect the price to touch the bottom support in the upcoming days, this is a -22% drop from the current level.