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22/07/24 Weekly outlookLast weeks high: $68,476.68 Last weeks low: $60,656.67 Midpoint: 64,566.67 On my last weekly outlook I commented on the nature of the weeks rally and how it began at weekly low and finished the week at weekly high. The same thing happened almost identically this time with a weekly low of just above $60,000 rallying +13% to reach just shy of the '21 ATH at $69,000. The recent run of price increases comes after the German Government sold over SEED_TVCODER77_ETHBTCDATA:3B worth of BTC pushing price down. Having now run out of BTC to sell the momentum has shifted and the net inflows have now been consistent ever since. With the presidential race now in the business end of the race, Trump is scheduled to be at the Bitcoin Conference in the 27th this month and there is There is "speculation that Trump may announce the establishment of a U.S. bitcoin strategic reserve". A pro crypto president of the USA would no doubt bring great interest and innovation to the country in the future but also brings about a new element of FOMO to sideliners and doubters of crypto's legitimacy. I can only predict this is a good thing between now and November at the very least ramping up exponentially as we nearer the election date. This week it's all eyes on the Bitcoin Conference, and also monitoring the progress of the Ethereum ETF. BTC has lead the recovery charge with altcoins still lagging a little behind as focus has once again shifted back towards the majors after a heavy sell off.
by ProR35
THETA - Set for a +50% Rocket Ride?We’ve had an interesting move with a retracement to the Fibonacci 0.618 level and it looks like a head and shoulders pattern is forming. Fibonacci Retracement: The price has retraced from the entire wave down to the 0.618 Fibonacci level. Head and Shoulders Pattern: A head and shoulders pattern seems to be forming, which could lead to a significant price movement if it plays out. Long Trade Setup: Entry Points: Immediate Entry: Consider entering a long position now at the current price level. Confirmed Entry: Alternatively, wait for a break above the right shoulder and confirm with volume before entering a long trade. Potential Gain: Target: If the head and shoulders pattern plays out, we could see a +50% move towards the 0.618 Fibonacci level again. Volume Monitoring: Confirmation: Watch the volume closely to confirm a real breakout before making the trade. Ready to catch the Theta wave? Let’s see if we can ride this setup to some serious gains!
Long
by SiDec
Why ALTSEASON 2.0 is HEREIf you've been following for a wile, you'll know I've been speaking of Elliot Wave theory and cycles - and how, from a macro perspective, we are currently in a multi-month correction before another impulse wave up. By looking at the TOTAL3 chart, as discussed in the video, it seems likely that this may only be the BEGINNING for altcoins... and you'll see why. Even though multi-month corrections can be demotivating, patience rewards the faithful! Check out yesterday's analysis on Altcoins that are strong right now despite the recent dip: _____________________________ CRYPTOCAP:TOTAL3
CRYPTOCAP:TOTAL3Long
by CryptoCheck-
4
ZCASH BITCOIN DIDNT BOTTOM YETLearn Zcash WHAT ARE ZK-SNARKS? The acronym zk-SNARK stands for Zero-Knowledge Succinct Non-Interactive Argument of Knowledge and refers to a proof construction where one can prove possession of certain information, e.g., a secret key, without revealing that information, and without any interaction between the prover and verifier. Zcash was the first widespread application of zk-SNARKs, a novel form of zero-knowledge cryptography. The strong privacy guarantee of Zcash is derived from the fact that shielded transactions in Zcash can be fully encrypted on the blockchain, yet still be verified as valid under the network’s consensus rules by using zk-SNARK proofs.
Long
by noam_chom
10
DOGE - DON'T MISS out on ALTSEASON 2.0 !Yesterday we took a look at altcoins that are strong currently - and today I'm adding another, DOGEUSDT. ✅ From a technical indicator perspective, Doge is ready to reclaim a key trendline, as the price is consolidating right under it (bullish). "Extremely Oversold" is usually a good place to buy: ✅ From a Chart Pattern perspective, we observe an inverse Head and Shoulders pattern forming, which is also bullish and confirms a direction reversal. Furthermore, a total of -60% has been retraced and this is prime time for a new upwards wave: ✅ From a trendline analysis, we have successfully reclaimed the neckline after closing daily candles ABOVE the old peak: I conclude to say that according to the trend and all other signs - the price is short term and long term bullish from here. _________________________________ BINANCE:DOGEUSDT
Long
by CryptoCheck-
1
Phemex Analysis #9: PT - Unbelievable Gain & Resilience!In this post, we will break down PHEMEX:PTUSDT (PT)'s price performance since its launch, its gains, its resilience, its potential future price movement, and finally, trading suggestions. Overview of PT's Performance Launch and Initial Growth Launch Date: November 30th, 2023 Initial Price: $0.06 Since its launch, PT has demonstrated an extraordinary performance, achieving a substantial rise in value. The token's price has increased over 22 times, reaching its current All-Time High (ATH) of $1.3776. This represents a staggering percentage increase of 2296%, which is noteworthy in the volatile cryptocurrency market. Current Price Consolidation Current Price Range: $1.10 to $1.20 Unlike many other cryptocurrencies that have experienced significant corrections from their ATHs, PT has maintained its high value and continues to show resilience. The price is currently consolidating within the $1.10 to $1.20 range, suggesting that it is building a strong base for potential future movements. Scenarios for PT's Future Price Movement Scenario 1: Bullish Run If PT can establish a solid base around the $1.10 area, it may initiate a bullish run. The key levels to watch are the resistance points at $1.23 and $1.36. Breaking these resistance levels with substantial trading volume could propel PT to new ATHs. Key Resistance Levels: $1.23 and $1.36. Potential Outcome: Breakthrough of these levels could lead to new ATHs. Scenario 2: Drop to Support and Consolidate If PT faces strong rejection at the resistance levels, it may retrace to test the support levels around $1.10 or even $1.00. Consolidation at these levels could provide a foundation for future growth. Key Support Levels: $1.10 and $1.00. Potential Outcome: Consolidation at these levels may lead to a stable base for future recovery. Trading Suggestions For Scenario 1: Bullish Breakout If PT breaks through the resistance levels of $1.23 and $1.36 with significant volume, it may indicate a strong bullish trend. Traders might consider entering a position to capitalize on the momentum. Entry Point: Upon confirmation of the breakout above $1.23 or $1.36 Stop Loss: Set a stop loss just below the $1.10 level to mitigate potential losses Target: New ATHs, adjust based on further technical analysis and market conditions For Scenario 2: Support and Consolidation If PT retraces to the support levels of $1.10 or $1.00 and shows signs of consolidation, this could present a buying opportunity, especially if the overall market sentiment is shifting to bullish. Entry Point: Around the $1.10 or $1.00 support levels after confirmation of consolidation Stop Loss: Set a stop loss slightly below the $1.00 level to protect against further downside Target: Initial resistance levels at $1.23 and $1.36, with potential for higher gains if the market turns bullish Conclusion PT's impressive performance and resilience in maintaining its value make it a unique player in the cryptocurrency market. The upcoming price movements will largely depend on its ability to break through key resistance levels or find support for consolidation. Traders should closely monitor market sentiment, trading volumes, and technical indicators to make informed decisions. Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
by Phemex
ETH’s influence on ERC20 products like YFIInfluence on ERC20 Products ETH’s influence on ERC20 products like YFI can be seen in several ways: Liquidity: ETH’s large market capitalization and liquidity provide a foundation for ERC20 tokens like YFI to tap into, enabling efficient and reliable transactions. Smart Contract Interoperability: ETH’s presence ensures that smart contracts, including those for ERC20 tokens like YFI, can interact seamlessly with each other and with the broader Ethereum ecosystem. Developer Adoption: ETH’s widespread adoption and established developer ecosystem encourage the creation and development of new ERC20 tokens, including DeFi protocols like YFI, which in turn benefits from ETH’s infrastructure. In summary, ETH’s influence on ERC20 products like YFI is indirect yet significant, providing a stable and liquid foundation for the Ethereum ecosystem and enabling the development and growth of #DeFi protocols like #Yearn.finance.
Long
by Victor_Ledney
WLDUSDT - Setting Up for the Next Bullish Move?Are the bulls back? With price rising by 89% in just 5 days. Let's now analyse the present retracement and our next Trade. Bullish Run: During our previous bullish run, we witnessed high volume entering the market, which resulted in an 89% price increase in just 5 days. Price Retracement: At this point, the price has retraced 34%, putting us in a fantastic purchasing position. Long Trade Setup: Watching for Bullish Momentum 1.) Volume Monitoring: Bullish Momentum: It is important to observe the volume carefully for indications of a resurgence of bullish momentum. Range Formation: To provide a strong base for the following move, some consolidation or a range would be good. 2.) Buying Zone: Entry Area: Exactly in line with important support levels, our buying zone is between $2.30 and $2.00. 3.) Target Levels: Yearly Level and Fibonacci Confluence: The Fibonacci 0.382 and the negative Fibonacci 0.234 coincide to the yearly level, which is our first target region for profit taking. Main Target: The Fibonacci 0.618 level, or roughly $4.70, continues to be the primary target for the long position. Here is the previous trading range where the price fluctuated for more than 56 days. Strategy: Executing the Long Trade Primary Entry: Enter a long trade within the buying zone of $2.30 to $2.00. Volume and Price Action: Monitor the volume and price action closely to confirm bullish momentum. Target Profits: Initial TP: Aim for the yearly level and Fibonacci confluence area as the first take profit zone. Main TP: Set the main take profit target at the Fibonacci 0.618 level around $4.70. Fibonacci remains one of my favourite tools for indicating where to buy and take profits, a simple yet powerful tool. What are your thoughts on this analysis? Are you ready to go long on WLD? Share your thoughts down below.
Long
by SiDec
ETHEREUM ETF With the Ethereum ETF decision just days away, ETH has made a massive breakout play in an effort to front run a positive ETF outcome, the approval of VanEck and ArkInvest/ 21Shares ETH ETFs on the 23rd & 24th May respectively. In terms of price action and charting this is how I see it. Now that price has broken out from the downtrend and hit the Bearish OB as shown, I think many were caught of guard and expected any sort of volatility to come on the day of the decisions. Instead it seems many have decided to front run the decision and go long which opens up more challenges. I think ETH had priced in a rejection of the ETF at ~£3K , with how the SEC has viewed ETH and it's stance on insisting it's a security, Coinbase estimated a 30-40% chance of an approval last weekend. Now that price has risen almost as if we already have news of approval I think that should the ETF be denied we could fall straight back down to $3K area with support areas shown as targets on the chart. This would print a Bart Simpson style pattern and many Longs will be devastated. On the other hand, Bloomberg have said that the chances of approval has gone from 25% to 75% and the chart shows this new level of optimism. If the ETF is approved I could see ETH using this current level as a base to target new local highs and close the gap on BTC dominance.
by ProR35
1
THE OPEN NETWORK (TON 4H) The Open Network (TON) is designed as a distributed supercomputer, or “superserver,” intended to provide a variety of products and services to contribute to the development of the decentralized vision for the new internet. A decentralized and open internet, created by the community using a technology designed by Telegram. With an increasing TVL and a growing ecosystem the future looks good for TON. The TON chart is a very interesting one. Over the last few month it has performed very well despite the overall market conditions. A near 300% increase since FEB compared to 45% for BTC, and has maintained most of its gains when compared to other altcoins. The TONBTC chart is one of the strongest out there, massively outperforming BTC in the recent months to maintain a bullish trend. Both BTC & USDT pairs are above the 4H 200 EMA. CERTIK top 10 on every category ( Fundamental 80, Operational 92.19, Governance 94.73, Market 95.94, Community 95.38, Code 97.31). My trade idea based on these points is simple: - Flipping the 4H 200 EMA as support. - Flipping the range MIDPOINT as support. - Respecting the diagonal support trendline. - After breaking out of the bearish trendline, now retesting it as support. -The STOP LOSS comes into play once all of the above areas of support and confluence are broken, the trade is obviously invalid at this level once losing market structure, range midpoint & Key S/R level. The overall trade R:R I feel is good at this point purely because of the clear support areas at this level. I think a lot of this trade will require BTC to behave and continue its recovery, it may be bearish for the BTC pair but not the Stable pair.
by ProR35
Ethereum - ETF incoming! No one can be sure when the US SEC will approve the spot Ethereum ETF registration statement, which is expected to be in next few weeks. Now it's just a matter of how long the SEC wants to delay. Ethereum has been trading within a parallel channel since the beginning of the month, and is currently using the daily SMMA as support, if we break out of the channel with confirmation, I believe we will easily see Ethereum return to $4,000 or close to it in the short term, that will be bullish for the Altcoins.
Long
by The_Trading_Wizard_
2
BTCUSDT Headed for more than 7% Drop?Hey Realistic Traders, let's dive into the technical analysis of BINANCE:BTCUSDT Bitcoin is currently trading below the EMA90 line, indicating a bearish trend . The breakout from the rising wedge formation further confirms this downtrend. Additionally, the momentum indicator has revealed an MACD bearish crossover, reinforcing the negative sentiment . This crossover, marked by the MACD line crossing below the signal line, underscores increased selling pressure and suggests a potential downward movement. Therefore, these combined technical signals collectively suggest a continuation of the bearish trend, with our initial target set at 58,093 or potentially dropping further to the second target at 55,742. Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Bitcoin." Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below
CRYPTO:BTCUSDShort
by financialfreedomgoals101
9