This week ADA dipped into the 78.6% zone but has not moved much lower. We are still in a holding pattern on all cryptos until the BS from Russia is over with.
Ok, I am not trying to brag but I wanted to leave my little red paint brush marks on the chart to see that BTC did almost exactly what I predicted. I'm not Kreskin (maybe you will have to google that reference lol) but this is definitely what I expected. Now, for next week it depends on what Russia does with regards to using Nukes.
SOL is about to make a close below the 100% level. This is a second retest so it may be below this and we will have to redraw the fibs again.
ETH had been really strong but has also dropped out of the 50% level and is heading for the 78.6% level.
Like all cryptos, DOT is falling again. Still within the 78.6-88.6% zone but for this week or longer it is going to be rough on cryptos and all financial markets.
BTC is coming back down to the 78.6% level. I think the Russian invasion of Ukraine is going to have an effect on this since Russia is a large part of the mining capacity worldwide. If there is a retaliation and their infrastructure is attacked, it may take a lot of miners offline.
I had to switch over to the BitFinex Exchange because ADA has broken below the all time low on Coinbase. What that means is that since the listing of ADA on Coinbase, it has reached a new low. Pretty shocking. On this chart, you can see we are nearing the 78.6% level but honestly, technicals can only get you so much information at this point in history. With the...
SOL bounced off the 88.6% level and didn't really look back. The 200 and 50 EMA are getting ready to cross too. Even with the issues on the SOL network, this is still a strong project.
ETH is ready to break the channel and is also near the 50 EMA. This was a big bounce off the 78.6 and got price into the bottom of the 50-61.8% zone. Probably won't see these prices again.
This is looking good. The BTC bounce is helping all cryptos but DOT really has been stronger than most. Might be the last time we see these prices.
BTC has finally made a bullish turn. It looks pretty strong but is nearing the 50 EMA so once we close above, we will have a much stronger signal than we do right now.
ADA has bounced off the 100% retracement and is now sideways. The BTC bounce is pushing everything back up. I am still not convinced that the bearish momentum is over for any of these coins. I am waiting for a move above the 78.6% zone before I start looking.
Had to move the fibs on SOL too. Bouncing off the bottom of the 78.6% level. I still expect something in the $80s
Had to move the fibs because ETH broke through the old levels. So with these new levels ETH is bouncing off the top of the 78.6% zone. I would see what happens this week prior to entering.
DOT is still at the 83.5% level. I would wait for a breakout and retest of the top of this 78.6% zone before it's interesting. Watch the rest of the market to see what might happen this week.
Since hitting the 34k level price has been moving back up very slowly. 3k in a week is not BTC's style. Not sure if this is a retracement before a move up or a fake out before heading back down.
ADA has passed the 100% level and closed below a few times over this past week. Price is actually trending lower with lower lows and lower highs.
SOL has a new low like everything else. A price of $72 is not out of the question. It's a fire sale but we don't know when the bottom will happen.