Altcoinmarket
Radix the gemHello everyone,
Tonight I bring you a Gem.
I accumulated this baby in the accumulation zone down at the bottom.
However, it shows one of the cleanest Elliott Wave charts I have seen. I will be holding this baby for the next 2-3 months...I have some targets in mind, which will surprise those who will join the ride.
I will, however, reveal the first one...0.92.
For those of you that would like to enter...I am adding to my position at this level (0.26 - 0.30) with SL below 0.25 (according to my risk strategy).
That will be the perfect retracement for the 3rd wave. When the minor wave five is completed at 0.92, there will be a very painful retracement back to the 0.30 level.
However, after that...well, you will see.
Now let's ride it to 0.92
(High Risk)
Altcoin MCAP Fibonacci Circles - Huge Upside? In the first scene we can see OTHERS bouncing off 3.618 strongly off the strongest trendline available
A possible falling wedge breakout
This level was seen as resistance previously before the massive run up we saw, now it is support
In the second scene we can see TOTAL2 (altcoin cap) approaching 2.618, during the last bull run as price approached 0.618 of this same trend a massive run up through the transition occurred, will we see another massive run up through 2.618 (another .618) level
If it occurs this will lead to phase two of the bull run, a more aggressive, and sharper rise across the board.
COMPUSDT - Corrective shortCOMPUSDT on the daily timeframe has a nice impulse and has broke above structure, also over extended and due a correction. Also on the daily timeframe market has formed this nice W formation in which we expect the market to complete at the neckline, we will be waiting on lower timeframes for entry rules to be satisfied BEFORE possibly looking at capitalising on this scalp short position.
Venus (XVS) DeFi Play on Binance Smart Chain (BSC)Hi Folks,
after a longer period of focusing on my trading I am back with some ideas (see also the similar post on CAKE - PancakeSwap linked below).
Not sure you are familiar with the Binance Smart Chain (BSC). Basically it is like the Ethereum network, but with appropriately low transaction fees.
Venus is a Binance Smart Chain-based DEX (decentralized exchange). I wasn't really aware of it until the recent Binance Coin (BNB) and XVS price surges. .
I have produced these four views on Venus for you to use / copy if you'd like.
Top left is the USD chart. XVS has lost 30% of its value and if you believe in it being currently the better (way less expensive) exchange solution compared to UNI, MAKER, SUSHI & COMP then this just may be a good time to start or extend your position.
Bottom left is the EUR chart.
Top right is the Venus vs. Uniswap (UNI) ratio. This ratio shows that Venus has been losing value against UNI, but it appears a support level may be forming for it to attack UNI again. At the time of writing this a level that seemed to be stable was crossed. To be watched.
Bottom right the same style ratio with SushiSwap (SUSHI), same view as on UNI. Looks like a support level is forming.
Venus is number 5 in the dappradar rankings in terms of total balance and has had a steady but bumpy growth in terms of volume, users and transactions over the last 30 days.
With Bitcoin likely taking a breather today and tomorrow below $60k and only maybe sneaking up to $60k next week there seems to be a likelihood that the overall market will be drawn down as well.
It may also be the time for altcoins to shine and may give Venus (XVS) an opportunity to catch up with UNI and have a fantastic gain.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
DOT weekly dip bounce up analysis. ALTcoins market over yet?Weekly dip just like a clock.
I feel like we are in the BUBBLIN phase for altcoins, most charts are seeing x3 - x20 across boards, so beware this will not continue for a long time now.
Expect BTC to bounce up from weekly support and ALTs will follow. Possible retrace for DOT here.
Check both RSI and Volume movements.
IF BTC will continue to fall and we will not see RSI pump, altcoin market will see red and we might hit hard support at 12,5.
We observe.
We make plans.
We take profit.
And then we wait.
Patience is the key.
XRP Scalp Set-up for 18% gain! 🚀The $.31 support level now has given XRP support on three occasions already and also shows some historical strength on the S/R flip. Since the price has reached this level again now, I believe this could be a great moment to enter XRP for an amazing 18% trade opportunity.
I tried to make the chart as self-explanatory as possible so I won't add lots of text in here. In case you have any questions, feel free to drop a comment and I'll make sure to leave an answer for you.
Bitcoin Dominance Continuing Its DowntrendThe 5-day chart shows well how bitcoin dominance rose slightly to test resistance in the past couple of weeks and is now capitulating under the pressure of the emerging altcoin bull run.
As forecast in our chart last week. Visit the chart and click the play button...
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
Long Wicks Point To Collapse Of Bitcoin Compared To AltcoinsThe 5-day candle shown from 25th May has a long upper wick showing exhaustion of bullish sentiment, which preceded an 8% drop until now.
Today we can see the same type of long upper wick forming on the current 5-day candle, which happens to be directly below the 5-day Ichimoku Cloud (a bearish situation).
Despite current market volatility and a consolidation range, it appears the overall altcoin market is ready to make significant advances against bitcoin itself.
The outlook for bitcoin is short. The outlook for altcoins is long.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
Bitcoin Dominance 5D Chart Shows Downward TrendDespite the attempts of Bitcoin Whales and Maximalists to maintain Bitcoin as the number one crypto... the market seems to be moving towards altcoins more and more.
As new projects form... old projects evolve... and new money floods into the crypto market... it seems inevitable that the 'altcoin' market cap will increase relative to the bitcoin marketcap.
That's not to say the Bitcoin Whales won't fight for their prized possession. Through various market manipulations and maximalist shenanigans, they will attempt to bolster the price of bitcoin with large upswings in the price of BTCUSD expected.
Follow us for analysis as the crypto markets evolve over the coming summer and US elections and towards the new year.
7% Bitcoin Price Dip Incoming?1 day chart shows price now falling below cloud support.
7% drop to a trendline that SparksterSignals has been following since May.
This matches our ominous sell alert from the 3-day chart we spotted yesterday:
We wait and see if this becomes a short sharp stab downwards with rapid recovery... or not.
SparksterSignals is temporarily short on bitcoin.
2-Week Heiken Ashi Shows 30% Drop Target For BitcoinSparksterSignals never enjoys being the bearer of bad news...
However, the better you trade, it matters not which way the market goes in the short-term.
As you can see, Heiken Ashi 2-week chart reveals momentum is turning downwards.
Traders may seek to unload altcoin long positions at the risk of a significant price drop on BTCUSD.
Major support is down at $6900.
The current 2-week candle doesn't close until 6th July so plenty of time for a turnaround. We'll be watching closely.
What do you think? Can FOMO help turn momentum back up? Will support be found before $6900? Are the orders book strong enough to eat up the negative sentiment and uphold the price?
Weekly Weakness For Bitcoin Dominance
Bitcoin Dominance has failed to find support above the long-term downtrend resistance, and the current weekly candle is also below long-term upwards trendline support, which can only mean one thing.
A weekly candle close at about current levels or lower indicates a 4.5% drop on bitcoin dominance coming soon.
Bitcoin Dominance Losing Steam, Again?
Bitcoin Dominance made a strong recovery in recent weeks, up to it's key resistance trendline.
The weekly chart shows BTC is making a test of that trendline to squash alt coins back into a little corner of the crypto pie.
But on the daily and 12 hour charts it appears the alts are fighting for a strong comeback.
IF this week ends with bitcoin losing about 2.5% market dominance, THEN we may see it's test of the trendline rejected and the start of a major new bull run for the alts.