CARDANO - All Time Highs Target Smashed! What's Next? 💪🏼Cardano has been one of the most impressive cryptocurrencies this recent bull run. We posted a perfect set up when price was at around the 1.26 level. Price moved up over 100%!
We now have 2 areas where we can continue with this bullish momentum.
First area is the 2.20 level where we have previous structure which we can react to. Best possible place would be where the trendline and structure converge but as we previously have mentioned, even one of these confirmations will be valid.
Second area is the 1.86 level where we have another structure level. If we get an aggressive deeper correction, this would be the best place to look for buys.
**Bullish view will be invalidated if we break the ascending trendline**
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CARDANO - All Time Highs Target Smashed! What's Next? 💪🏼Cardano has been one of the most impressive cryptocurrencies this recent bull run. We posted a perfect set up when price was at around the 1.26 level. Price moved up over 100%!
We now have 2 areas where we can continue with this bullish momentum.
First area is the 2.20 level where we have previous structure which we can react to. Best possible place would be where the trendline and structure converge but as we previously have mentioned, even one of these confirmations will be valid.
Second area is the 1.86 level where we have another structure level. If we get an aggressive deeper correction, this would be the best place to look for buys.
**Bullish view will be invalidated if we break the ascending trendline**
LITECOIN - Capitalise On This Short Term Reversal 👀Litecoin has been steadily moving up until recently when we saw an ascending correction, which indicated bears coming in. The only thing holding Litecoin up now is the ascending trendline.
We are now seeing a double top on the lower timeframe which could indicate a short term reversal back to the $150 level or maybe even lower to the $110 level.
Watch for the ascending trendline to break to confirm bearishness. If we bounce from the trendline, targets will be the next structure level at $215 level.
LITECOIN - Capitalise On This Short Term Reversal 👀Litecoin has been steadily moving up until recently when we saw an ascending correction, which indicated bears coming in. The only thing holding Litecoin up now is the ascending trendline.
We are now seeing a double top on the lower timeframe which could indicate a short term reversal back to the $150 level or maybe even lower to the $110 level.
Watch for the ascending trendline to break to confirm bearishness. If we bounce from the trendline, targets will be the next structure level at $215 level.
BITCOIN - Best Place To Buy and HODL! 🚀Bitcoin has been making really clear patterns on the daily timeframe which can help us understand where price may be going next.
By looking at price action from this year, we can see that price did not just go from 30K to to 64K in one single move. We had various patterns and corrective phases which gave us plenty of opportunities to catch the move all the way up to 64K.
Similarly in this recent bull run, we won't see a simple move straight back up to all time highs. Price will make various corrections on the way up. What we can do is capitalise on each correction by identifying these corrections and readying ourselves for the next big move!
Price appears to be in an ascending correction which is often a reversal pattern (even for the short term). If we do break down, we will be looking at the 42K and 36K levels to buy and HODL back up to the all time highs!
BITCOIN - Best Place To Buy and HODL! 🚀Bitcoin has been making really clear patterns on the daily timeframe which can help us understand where price may be going next.
By looking at price action from this year, we can see that price did not just go from 30K to to 64K in one single move. We had various patterns and corrective phases which gave us plenty of opportunities to catch the move all the way up to 64K.
Similarly in this recent bull run, we won't see a simple move straight back up to all time highs. Price will make various corrections on the way up. What we can do is capitalise on each correction by identifying these corrections and readying ourselves for the next big move!
Price appears to be in an ascending correction which is often a reversal pattern (even for the short term). If we do break down, we will be looking at the 42K and 36K levels to buy and HODL back up to the all time highs!
ICP - BREAKOUT ✅After the double bottom reversal, we are looking for any opportunity to buy ICP. We can see that we recently broke out of a descending wedge.
Watch for bullish pressure on the retest of the wedge.
If we don't turn bullish from here, watch for a bounce off the $54 structure. We will remain bullish until we break the ascending trendline.
ICP - BREAKOUT ✅After the double bottom reversal, we are looking for any opportunity to buy ICP. We can see that we recently broke out of a descending wedge.
Watch for bullish pressure on the retest of the wedge.
If we don't turn bullish from here, watch for a bounce off the $54 structure. We will remain bullish until we break the ascending trendline.
SXP - Retest Bounce! 🏀SXP was in an ascending correction and broke down nicely. We are approaching a very high probability area where we can look to buy $2.70.
We have the ascending trendline, structure and fibonacci support at that price. Watch for a bounce and then enter with stops below the trendline and structure. Targeting the -27 fibonacci.
SXP - Retest Bounce! 🏀SXP was in an ascending correction and broke down nicely. We are approaching a very high probability area where we can look to buy $2.70.
We have the ascending trendline, structure and fibonacci support at that price. Watch for a bounce and then enter with stops below the trendline and structure. Targeting the -27 fibonacci.
CAKE - What's Next? 🧐Cake has been on a bullrun since we saw the triple bottom in late July. We have been steadily climbing but we have now gone away from the ascending trendline in the form of an ascending correction = reversal pattern.
If this ascending correction breaks down completely, we might see a deeper correction heading back down to the $16 where we have previous structure. If its a small retracement, look for a bounce off the ascending trendline.
CAKE - What's Next? 🧐Cake has been on a bullrun since we saw the triple bottom in late July. We have been steadily climbing but we have now gone away from the ascending trendline in the form of an ascending correction = reversal pattern.
If this ascending correction breaks down completely, we might see a deeper correction heading back down to the $16 where we have previous structure. If its a small retracement, look for a bounce off the ascending trendline.
SHIB - Do Not Miss This Next BIG Move! 🚀🔥SHIB, aka Dogecoins little brother, has been making really nice waves. The basic elliot wave theory is that an impulse wave has 5 waves and we can clearly see that we are in the 4th wave, corrective wave, and we are making an ABC correction. We are anticipating the 5th and final wave before we see a bigger retracement.
Watch for price to react to the recent bottom and enter with stops below the correction.
Do not miss this trade!
SHIB - Do Not Miss This Next BIG Move! 🚀🔥SHIB, aka Dogecoins little brother, has been making really nice waves. The basic elliot wave theory is that an impulse wave has 5 waves and we can clearly see that we are in the 4th wave, corrective wave, and we are making an ABC correction. We are anticipating the 5th and final wave before we see a bigger retracement.
Watch for price to react to the recent bottom and enter with stops below the correction.
Do not miss this trade!
LITECOIN - Best Place To Enter 🎯Its been a while since we looked at Litecoin. The last time we looked at Litecoin, we had a double bottom and we broke out of the descending trendline indicating bullish momentum.
Even though this has been moving in the right direction and has made a 50% move from our last analysis, it's been moving slower than other cryptocurrencies. We may however see a really nice move coming soon once we get this retracement period out of the way.
We are currently in an ascending correction which is often a reversal pattern - even for the short term. Price may come back down to collect more orders and then move on up! The best place to enter would be the $150 level where we have previous structure.
Please note that it is possible that price can react to the ascending trendline and bounce off, so keep an eye on that too!
Targets: $210 (Previous structure)
LITECOIN - Best Place To Enter 🎯Its been a while since we looked at Litecoin. The last time we looked at Litecoin, we had a double bottom and we broke out of the descending trendline indicating bullish momentum.
Even though this has been moving in the right direction and has made a 50% move from our last analysis, it's been moving slower than other cryptocurrencies. We may however see a really nice move coming soon once we get this retracement period out of the way.
We are currently in an ascending correction which is often a reversal pattern - even for the short term. Price may come back down to collect more orders and then move on up! The best place to enter would be the $150 level where we have previous structure.
Please note that it is possible that price can react to the ascending trendline and bounce off, so keep an eye on that too!
Targets: $210 (Previous structure)
CARDANO - Back To All Time Highs 🚀In our previous analysis, we identified a parabolic move that we were watching for a breakout and a retest before moving up. Price retested our structure level and moved up 60%!
Again, we are looking for a correction to get another entry.
We have our structure level in place 1.85 where price has reacted to previously. We also have an ascending trendline which price seems to be respecting. The best place to look for entry would be the point where the structure and trendline converge - as marked out in the chart.
Please note that price doesn't have to touch where both trendline and structure converge. It could just move down aggressively and touch the structure only before moving up.
Targets: All time highs.
CARDANO - Back To All Time Highs 🚀In our previous analysis, we identified a parabolic move that we were watching for a breakout and a retest before moving up. Price retested our structure level and moved up 60%!
Again, we are looking for a correction to get another entry.
We have our structure level in place 1.85 where price has reacted to previously. We also have an ascending trendline which price seems to be respecting. The best place to look for entry would be the point where the structure and trendline converge - as marked out in the chart.
Please note that price doesn't have to touch where both trendline and structure converge. It could just move down aggressively and touch the structure only before moving up.
Targets: All time highs.
XRP - Correcting For A Bigger Move! 🤑The last time we analysed XRP, we were waiting for a bounce off the 0.77 level to take us back to the channel resistance. Price reacted perfectly to our 0.77 structure level and blew past the channel resistance for a total raw gain of 75%!
We may be seeing a deeper correction now before we have another move up. We have 2 clear areas where we are looking to get another entry for XRP.
First area: 0.95 level
+ Structure
+ 50% fibonacci
+ Retest of broken channel
+ Ascending Trendline
Second area: 1 to 1.05
+ Structure
+ 38.2% fibonacci
+ Ascending Trendline
Targets: Back to all time highs!
Watching how price moves back to one of these 2 areas.
XRP - Correcting For A Bigger Move! 🤑The last time we analysed XRP, we were waiting for a bounce off the 0.77 level to take us back to the channel resistance. Price reacted perfectly to our 0.77 structure level and blew past the channel resistance for a total raw gain of 75%!
We may be seeing a deeper correction now before we have another move up. We have 2 clear areas where we are looking to get another entry for XRP.
First area: 0.95 level
+ Structure
+ 50% fibonacci
+ Retest of broken channel
+ Ascending Trendline
Second area: 1 to 1.05
+ Structure
+ 38.2% fibonacci
+ Ascending Trendline
Targets: Back to all time highs!
Watching how price moves back to one of these 2 areas.
BITCOIN - Where To Get In 💰Since the end of July, Bitcoin has been making really nice moves to the upside. We have cleared a very important level 42K which held Bitcoin back significantly since the end of May 2021.
We have to ask ourselves, where is the most probable area that Bitcoin may find support. It is clear that one of the areas we can look to buy is the aforementioned 42K level. We have the ascending trendline as well as the structure supporting 42K level for a reversal.
If we break below 42K level, we may see prices such as 40K and even 36K before we see some sort of reversal.
For the meantime, monitor the 42K level and watch for bullish price action.