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Whats next for Bitcoin: Levels and ThoughtsQuick pullback from 52k wiped -20% from the price, creating opportunities in support zone. Demand in Bitcoin high enough, so it is quite possible to see recovery from here. Keep in mind 42.3K level which important for sellers. If support will be strong enough - the price may do good pullback from this support and take another chance to break 52k. Quite good opportunity with nice risk/reward, so I will rebuild my long position to try. If price failed 42k - this will trigger another selling wave — in this case we must watch for levels near 38K. Best regards Artem Shevelev
INDEX:BTCUSD
by ArShevelev
4
Bitcoin Making it's way up $52K. Expected lows and highs.Bitcoin rally continues and now approaching $54K resistance zone. Over last week price made +13% profit move, which is awesome for crypto, most of alts did major move up simultaneously. Keep in mind possible start of correction down to $47-42K in mid-late September. But before that, personally, I am expecting reaching $54-60K as main target for taking profits. In 60K we have a strong resistance which will hard to break IMHO. Thanks for reading, Have a nice profits Artem Shevelev If you missed previous update:
INDEX:BTCUSD
by ArShevelev
6
ALTCOIN REVIEW by Artem Shevelev — 12 August 2021Hey guys, in this review we will look in another important altcoins which extremely popular among crypto holders 👍 1. DOGE 2. THETA 3. HBAR 4. ADA And lets start from DOGE coin which is forming some interesting pattern, which I will cover more detailed in next reviews. Price located in between DMA100 and DMA200, still in bullish shape, but now price might wanna reach 0.5 Fib level at $0.34 - 0.35. From these levels I will expect pullback in bearish side. Another altcoin for today is THETA token It gave holders good profits on last move carrying almost x2 from last swing low. But now price seems like heading south again, facing resistance in the zone of $7.0 and downtrend as well as DMA 200 and DMA 100 death cross. Take a look at flat-surfaced HBAR It seems to me it is some kind of distribution going on, I've seen this manner last year and surprised by seeing it this year happening again. Looking south for this token on next period. And last for today is ADA (cardano) Have to admit, price of cardano made significant profits for holders, especially for long-term buyers who holding since 2020-lows. Right now price stuck at 0.618 Fib zone from last ATH, and seems to me it is quite exhausted for another run upside. I bet on bearish outcome for mid-term, so for coins which left in portfolio I will try to fix in this zone to avoid unnecessary risks. Thanks for your time, stay safe Best regards Artem Shevelev
BITSTAMP:BTCUSD
by ArShevelev
6
ALTCOIN REVIEW by Artem Shevelev — 10 August 2021Hey, in the past 24h altcoin market responded well to Bitcoin price rise. According to Binance exchange there is at least 10 altcoin pumped +20-70%. In this review I collected few altcoins which have not pumped too much, and located at relatively good point for buying / holding and profits might be amazing Before we go to alts, remember to use capital risk wise and calculate your maximum loss before trade. Let's go! First chart to watch is ICP / BTC ICP showing solid Adam & Eve bottom pattern and possible breakout from it, looking for levels above 1800 and might reach closely to 2000. If the price goes below 1300, I would recommend stopping the trade. The next chart is about GRT / BTC GRT is making a solid downtrend channel / wedge shape and might go for a breakout to retest the 2000 resistance zone. In the long term price can dip below 1300 where I located the next buy zone for holders. Keep your fingers crossed :) Third chart is for XTZ / BTC Tezos is holding well in the support zone, forming a nice wedge and might go higher in this resistance zone. I am looking for resistance near 8000-10000. But before reaching it, xtz seems to have an opportunity to reach the 6000 support zone, which is quite good for long-term buyers. And last chart for today is for MDT / BTC MDT chart located pretty low and gives nice range for making mid-term trades safe-side entry near 65-60 zone and with targets at 95 - 130 - 170 Keep your trades on the safe side, market conditions are constantly changing. See you in next updates Best regards Artem Shevelev
BITSTAMP:BTCUSD
by ArShevelev
2
Bitcoin 3 Reasons to go Down -30%Since 21 July Bitcoin is up +40% and made nice profits for holders. Now price approach important resistance (1) and might take some timeout after 10-in-a-row days of green candles. The growth of 21 July was supported by Bullish Divergence (2) Now this pump is 98% similar to the pump (3) at right chart side. Both chart complete these criterias (reasons for down) 1 - Resistance 2 - Bullish divergence 3 - Pump I will reconsider my bearish sentiment if price will breakout from resistance with solid movement and bullish price patterns thereafter. Stay safe Best regards Artem Shevelev
INDEX:BTCUSDShort
by ArShevelev
24
Bitcoin Wyckoff [Accumulation & Distribution] — ⚠️Possible 24000This trading method was developed by Richard Wyckoff in the early 1930s. It consists of a series of principles and strategies originally designed for traders and investors. Wyckoff devoted much of his life to studying market behaviour, and his work still influences much of modern technical analysis (TA). Currently, the Wyckoff method is applied to all types of financial markets, although it was originally focused only on stocks, but I find it amazingly good on cryptocurrency market and Bitcoin During the creation of his work, Wyckoff was inspired by the trading methods of other successful traders (especially Jesse L. Livermore). Today he is in the same respect as other key figures such as Charles H. Doe and Ralph N. Elliott. Wyckoff's Three Laws The law of supply and demand The first law states that the value of assets begins to rise when demand exceeds supply, and accordingly falls in the opposite order. This is one of the most basic principles in the financial markets, which does not exclude Wyckoff in his works. We can represent the first law as three simple equations: Demand > Supply = Price Increases Demand < Supply = Price Falls Demand = supply = no significant price change (low volatility) In other words, Wyckoff's First Law assumes that the excess of demand over supply leads to higher prices, since there are more buyers than sellers. But in a situation where there are more sales than purchases, and supply exceeds demand, it indicates a further drop in value. Many investors who use the Wyckoff method correlate price movement with bar volume as a way to better visualize the relationship between supply and demand. This often helps to predict the future movement of the market. Personally I recommend use higher timeframes and indicators like ADL and Stochastic RSI. The law of cause The second law states that the differences between supply and demand are not coincidences. Instead, they reflect preparatory actions as a result of certain events. In Wyckoff's terminology, the accumulation period (cause) ultimately leads to an uptrend (effect). In turn, the distribution period (reason) provokes the development of a downtrend (consequence). Wyckoff used a unique technique of plotting patterns on charts to assess the potential consequences for specific causes. In other words, he created methods for determining trading targets based on periods of accumulation and distribution. This allowed him to assess the likely expansion of the market trend after exiting the consolidation zone or trading range (TR). The Law of the Connection of Efforts and Results Wyckoff's Third Law states that changes in price are the result of total effort that is reflected in trading volume. In the case when the growth of the asset value corresponds to the high trading volume, there is a high probability that the trend will continue its movement. But if the volumes are too small at a high price, the growth will most likely stop and the trend may change its direction. For example, let's imagine that the bitcoin market starts to consolidate with very high volume after a long bearish trend. High trading volumes indicate more demand, but sideways movement (low volatility) suggests little outcome. If a large number of bitcoins change hands and the price does not fall significantly, this may indicate that the downtrend may end and there will soon be a reversal. To sum up, the Wyckoff Method allows investors to make smarter and more logical decisions without relying on their emotional state. His extensive work provides traders and investors with a range of tools to reduce risk and increase their chances of success. However, there is no single, reliable methodology when it comes to investment. You should always approach all trades with caution and take into account all potential risks, especially in the highly volatile cryptocurrency market. Best regards Artem Shevelev
INDEX:BTCUSDEducation
by ArShevelev
25