Tightening range ready to pop like a balloon soonI am hoping to see this follow alot of other alts that have been making attempts to the upside. I have to see a nice volume candle to get on the train though. With this being an hourly chart, If I do see a breakout, to the upside OR downside, ill shuffle down a few timeframes looking for scalp trades in that same direction.
ALTS
Daily support bounced, hourly consolidation breakout soonWatching the hourly for a breakout further north off this EMA. Risk is clear with a stop at the bottom/under the consolidation batch of candles to the left. An EMA break here would see a pretty gnarly move down, so be careful, use your stops and move em up.
WHEN to BUY CRONOS - Using BTC.D 🔁BITTREX:CROUSDT
As seen from the CROUSDT chart, the Bitcoin Dominance Chart reveals many secrets when overlayed onto your altcoin chart.
They key reason for this being the constant rotation of money in and out of Bitcoin, and into and out of altcoins. If you're looking for a more detailed explanation on when to buy altcoins, check out yesterday's update here:
From the chart we can clearly see that Cronos has bottomed out, but is struggling to regain bullish momentum. As we overlay the BTC.D chart (yellow) we can see there is a negative correlation between the two - When BTC.D drops, CRO increases. And when BTC.D increases, CRO drops. This will hold true not only for CRO , but for other smaller market cap altcoins as well.
This concludes that NOW is an excellent zone to buy Cronos, as the price is yet again in accumulation zone. An increase can be expected as soon as we see a dip in Bitcoin Dominance.
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CRYPTOCAP:BTC.D
We are in the Fat Candle Support zoneUsing the new volume candles from TradingView which are absolutely amazing. We can state some simple facts.
We are currently in a zone where previously, fat candles have formed at this zone.
I am expecting another fat candle, hopefully to the upside out of this zone.
HOWEVER! I will play to the downside as well. This is a tightening range, and a breakout is coming, but it could very well be to the downside. Use stops! we've seen several breakouts fail recently as well, so move those stops up and lock in profit if you can when we get a move.
$ETHBTC HAS BOTTOMED ethbtc has been in the never ending channel of pain since Oct '22, but we think that's finally coming to an end.
successful retest and reclaim of the April '22 low (pink box).
eth looks great here, which likely signals the real start of alt season.
Strong volume push off supportLooking higher after seeing this nice candle break over the EMA after testing a longer term support. Accompanied by volume (fat candle) and declining volume on the way down (thin candles) this is nearly a text book bull flag.
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Got the looks of an Elliott wave impulse here.
I will be watching this chart closely to see if we can get a corrective pattern that stays internal to this suspected impulsive range. Preferable a clear ZZ or other pattern will develop and print down in to at least the discount area. Alarms set, added to watch list.
Hourly EMA Support confirmedHourly plays here that could transition to days. The EMA has held strong on this bull move. Buyers stepped in to move price, and sellers faulterd. There was not much of a battle here at all this time.
Lower time frame failing but higher TF showing EQPretty clear trends on the lower timeframes right now, tightening up in a nice wedge on the higher timeframes.
I am scalping these hourly moves down and up but keep a close eye on that HTF support we may be running to next. I will be flat while the market decides its direction. Because that will be big move, i'll have plenty of time to catch the meat of that move.
ARB ready to start it's Bull market?My opinion is ARB / Arbitrum is finishing it's major 2nd wave correction as an running flat and breaking the white downtrend line indicates that 3rd major wave is starting. How ever if the red scenario happens more possibility to invalid the whole bullish scenario rather than it's to be a expanded flat. Let's see. DYOR! Always invest what you can afford
ALT SEASON can start as early as next week and this is why.We frequently look at the altcoin market and very often look for clues on its dominance and market cap. A historic comparison of alts with Bitcoin's (BTCUSD) Cycles shows that alts bottom after Bitcoin, a lag which is natural considering that BTC is the market leader. Similarly it is possible for alts to rally when Bitcoin is correcting or consolidating.
Using Bitcoin's Halvings as a measure to separate pre and post-Halving phases, we can see that in the past two Cycles, alts have made a dump within the green zone following Bitcoin's Halving.
On this Cycle however, we see that very same dump having started since late December 2023, while Bitcoin rallied aggressively, which is in our opinion attributed to the ETF anticipation and then launch in January 2024. It is therefore very probable that this was the alt market's 'post-Halving dump'.
In any case, Alts have reached the bottom of their usual Bullish Megaphone that is historically formed when they bottom. It is therefore very probable to see the new Alt Season, which is when alts rally parabolically and naturally more aggressively than Bitcoin, starting as early as next week.
What do you think?
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Green Arrow. Red Arrow. Which Will It Be?As I see it we now have two more likely options regarding price trajectory for Bitcoin.
Let's first review what has occurred in the past few days. After 9 hits on our multi-year support, we finally broke WITH confirmation. That last part was important. I had stated that if we break and confirm, our first target down would become that first purple ascending trend line. Nailed it! Couldn't have been more precise. Yesterday, I then stated we should bounce and hit our heads on that 59.3k level. Boom. Done. Now, as I see it, Bitcoin has two most probable options to follow in terms of price. These options are represented by the green arrow and the red arrow.
If we break back above that 59.3k level, the green arrow is in play and we'll likely travel sideways for a couple of weeks/months. This will be very boring for Bitcoin trades but it could indicate some relief for altcoins. At that point, I would expect quite a few of the best to spring to life and start pumping again.
The red arrow is our other option, and honestly, this is currently the direction I am leaning toward until DXY, VIX, GLD, SPY, and NVDA tell me something different. DXY, VIX, and GLD continuing upwards would push stocks and SPY/NVDA down. BTC would likely follow. And though ALTS remains relatively stable at the moment, a move like this could bury some of the more risky. Keep those stops in place as it could get ugly. Thus far, my thesis on ALTS stands correct and our double-bottom has held and is holding for many. But, if that support breaks, ALTS would be in trouble.
As always, I'll keep you up to date on the altcoin charts (often via the weekend update) here as well.
Also, for my paid subscribers, know that we hit our level down and I have bought more of our best-performing altcoin. Check the trade tracker below to see the details.
PEPE - DOWNTREND, another DUMP coming 📢📢 PEPE-USDT📢
PEPE has seen an amazing bull cycle, increasing 800% parabolically over a few week. It's safe to say that just from this fact, a bear market is up next and we can already see the sins of an early bear market starting.
Our highly accurate technical indicator is showing that the bullish phase is long over, flashing a "SELL" signal a few candles back:
When we start to trade UNDER the green trendline, the price turns bearish and the trendline will now become red. For now, at least, it seems as though altseason may be over.
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BINANCE:PEPEUSDT
BTC mid-term movement BTC possible movement towards $55k zone before continuing it is own rally, which will allow alts to make some moves.
On the long-term view, BTC peak end 2025/early 2026 could reach around $900k
3 Touches and your done #BITCOIN is on Parabola watch.#Crypto creates many parabolic moves
as they are reflexive assets fuelled by Fear and Greed.
I am currently on alert that we may have a parabolic rise on our hands.
And we could #BTC double to reach very close to that $100K level
BEFORE summertime.
Our #Alts could go beserk
but we must have some sort of selling plan in place.
You need to come up with your own plan!
Bitcoin :what is next?Btc is still in a range of 50k-70k.
We might see a push to the downside at 55k level maybe a wickfish into 50k zone but i think it will reverse immediately from that dump.
In the other side alts are still suffering , and this will continue until dominance reaches 60-69% it depends on the PA of Btc .
Some alts might bleed a little bit more but overall things are looking spicy in the cryptocurrency market . IF we are lucky enough to witness a bigger dump ,that would be a gift for us .
Lets PaaaaamP it.....
INJ : M-Pattern, BEARISH📉Hi Traders, Investors and Speculators of Charts📈
IF we fail to keep closing daily candles ABOVE $18, the price target could go as low as $10, even if it is just a wick. Buying orders between 10-18 could very well be filled.
From a technical indicator perspective, we've received a sell signal; which is normally very reliable in the higher timeframes.
Losing the dash-diagonal trendline (white) will also be an extremely bearish sign.
Considering that this is the weekly timeframe, it may take some time for the price to move towards the lower support zones, depending of course on how hard the alt-market continues to dump.
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BINANCE:INJUSDT.P
SOLANA - $600 on the Cards?👀📉Hi Traders, Investors and Speculators of Charts📈
Solana has made some great increases, and it's retraced back to support levels. I've been bullish on Solana since the beginning of 2024, when SOL was still sub $100. Take a look here at other altcoins that we've been watching:
By looking at the Drop-and-Pop fractal we've been watching, we can conclude that for the short term, the support zones should hold at $140, with wicks as low as $120. When incorporating this into Elliot Wave Theory, our next impulse up (wave 4-5) should take us to roughly $290.
But it doesn't end there. When we zoom out, and view the chart from a macro perspective, we see a different structure of Elliot waves... We're possibly still in wave 0-1! And if we use the same Elliot wave ratios to calculate wave 5, (% of wave 1 OR 161.8 x wave 1 length) then wave 4-5 takes us even beyond $600.
It's important to note though, that this is a multi-month and potentially multi-year target. Although SOL has previously increased 500% in a few weeks, the markets are more mature than they were in early days with many more adopters and institutional investors joining the game.
If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets.
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COINBASE:SOLUSDT BINANCE:SOLUSDT
SHIB - DUMP Incoming 📉📉Hi Traders, Investors and Speculators of Charts📈
Shiba was unable to breakout above the recently formed pennant pattern in the weekly timeframe. Usually pennants are bullish but if the pattern fails a huge downside can be expected, indicating weakness and dominant sellers.
The next likely support is only at the moving averages, with both the 50d and 100d roughly at the same place (price tags on the right hand side). If the markets do not turn around in the immediate future, SHIB could drop as much as 40%, since it drops much harder than BTC and ETH during liquidity rotations.
Considering that this is the weekly timeframe, it may take some time for the price to reach the moving averages trendlines.
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BINANCE:SHIBUSDT
DOGE - $0.30 Next Target, Elliot Waves📉Hi Traders, Investors and Speculators of Charts📈
Dogecoin was one of my TOP altcoins to watch for 2024. (Find the others here):
The DOGE fractal I've been following has played out extremely well, and so I will continue to follow this fractal:
Since we have now completed Elliot Wave 2-3, we are seeing the corrective phase of 3-4. This means we have yet another impulse wave upwards to look forward to after the correction is completed.
Fibonacci Ratio is useful to measure the target of a wave’s move within an Elliott Wave structure. Different waves in an Elliott Wave structure relates to one another with Fibonacci Ratio.
Fibonacci Ratio Relationship
• Wave 2 is 50%, 61.8%, 76.4%, or 85.4% of wave 1
• Wave 3 is 161.8%, 200%, 261.8%, or 323.6% of wave 1-2
• Wave 4 is 14.6%, 23.6%, or 38.2% of wave 3 but no more than 50%
• There are three different ways to measure wave 5. First, wave 5 is inverse 123.6 – 161.8% retracement of wave 4. Second, wave 5 is equal to wave 1. Third, wave 5 is 61.8% of wave 1-3
Therefore, if wave 3-4 does not retrace beyond wave 1 our next target price is around 0.33:
The GOOD NEWS though, is that this could very well be a small part of a MARO cycle. I've previously explained that Elliot Waves can be like branches of broccoli - each wave makes up a part of a smaller or bigger wave, including ABC corrective waves in each impulse wave, as demonstrated by the front page chart.
Previous DOGE idea where we first look at the fractal:
If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets.
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BINANCE:DOGEUSDT
Contentos #COS can double from here With numerous setups like this in the Altcoin space
Do you really think this Crypto bull market is over???
I would say..
With quite a lot of certainty ... Absolutely not!!!
Let's go people
stop being Jeets and LFG
RED is for buying! gotta bet on this one! Afternoon fellas,
Figured I'd come back with another one during these red days...
Pumped the other day and I did sell some. But looking into this setup following up the previous pump.
This post is also a follow-up from the previous post. Check it out!
Trade thirsty.
Is Bitcoin Dominance gearing up for a move ? And What about ALTSMany are asking "When will #Bitcoin push again"
And while it is impossible to say , we can get pointers from charts and the BTC.Dominance Chart here gives us an idea that BTC.D will meet Support next week, around Last week April / 1st week of May
Its a good idea to understand that just because BTC.D Rises, BTC does not always follow but the combination of the two, what ever they do, Gives us a very Good idea of where ALTS will go.
Assuming BTC.D will rise next week
BTC.D increases - BTC increases - ALTS Drop
BTC.D increases - BTC Decreases - ALTS Drop rapidly
BTC.D increases - BTC Stable - ALTS Stable
On the whole, when BTC.D rises, it is not good for ALTs.
Makes sense if you realise when BTC.D rises it is because money flow is into BITCOIN.
BUT - >
BTC.D Decreases - BTC Increases - ALTS increase Rapidly.
BTC.D Decreases - BTC Decreases - ALTS Decreases / stable
BTC.D Decreases - BTC Stable - ALTS increase.
So, ALL to watch for over the next week or so.
