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Bitcoin Dominance Elephant/Mammoth in the room The Bitcoin dominance has been doing something seemingly unnatural with the limited information available to us. I find that a lot of people are sleeping on this or just unaware. First off, this chart is very busy. I don't normally make charts with this many indicators but there is a lot of confliction in the information and I only want to make a single chart of this to follow on. There is are even a few indicators I have deleted for sanities sake. Secondly, the elephant is that we have basically gone through a bear market in a range with the dominance. What we have known or at least what we think we knew is that in bear markets the dominance of bitcoin goes up. That so far has proven to be false or is it that the bear market isn't over yet? I will explain all of this with my opinion at the bottom with a third option. THE INDICATORS On the Monthly chart 50 month MA CM_Ultimate_MA_MTF Volume Down below, from top to bottom RSI Vortex (VI) Traders Dynamic Indicator (TDIGM) Historical Volatility (HV) Bitcoin Dominance Oscillator (BTCD_O) Sentiment Oscillator (ASO) So, lets start from the top The CM Ultimate has turned green, the only other time that's happened on this chart has shown an upward dominance move for Bitcoin. The RSI is climbing, the blue vortex has crossed above the pink line that all show a support for this upward dominance move. The sentiment oscillator has closed the gap (Blue vs pink) and looks to make across that would add to the upward move, but, has not crossed as of yet (possibly this month it may). The conflict or size of the move The last time dominance went up it was met with very heavy resistance the 50 month MA (yellow line), it finally did break through but did not hold for even one month and broke back down again. This shows us the 50 month is very very strong resistance for now. The question is, will it go above this time around? This is what remains to be seen and what will follow here. The volatility and traders dynamic could be pointing at small move. We can clearly see the volatility going down as the move is going up. The TDI has been saying a move is coming and has been made but it might already be over, or there is isn't much left in the move. So, it could go to the 50 month and get rejected from there. Why? We can also see the TDI's range is narrowing which coincides with the volatility. Also, along with all this the RSI is showing hidden bearish divergence for 4 years now, that started in 2015, but has it played out fully yet? Again that remains to be seen. I have zoomed in on the volatility so it can be clearly seen but what is being missed is the giant wedge that it is in. This wedge does eventually end in about 2 years, so it's still aways away. What I think and what my analysis is. First off, it's not to be taken as advice. I think BTC dominance is going up for now. I also think it gets rejected by the 50 month and goes back down for an alt-season and could make a double bottom and hit the lows of 2018 @ 35% or possible even slightly lower for a very short time. It then would go back up substantially. Keep in mind this could take 2 to 3 years to play out in full or even longer. The keys in all of this are the 50 month, the Volatility and the volume. We can also see the volume is in a downward trend. A big volume spike could bean early sign of a trend reversal too. Once all this plays out and if the dominance was to go back up the volatility would have to break out of the wedge in a fairly violent way, just as it did when it broke down in 2017/18. The other option is it just gets more and more stable and less volatile as time goes on and keeps following this trend. I don't think this is likely as a permanent fixture though. Another hidden key here could be Ethereum. ETH has also closed the gap on BTC during this bear market, so it's another thing I'm looking at and could also be used as an indicator to all this data. I have linked a chart to this analysis in this one called "Is Ethereum going to dethrone the king". Also, I have included is an altcoin lengthening cycles analysis based on XRP. I do suggest you replicate this chart in multiple ways by breaking down the indicators for cleanliness sake and even adding in the ones I removed listed down bellow. Removed but still relevant Indicators Stochastic RSI Bollinger Bands MACD Thank you for looking and please feel free to let me know what you think in the comment section down below. Stay Blessed WeAreSat0shi
CRYPTOCAP:BTC.DLong
by WeAreSat0shi
1
ETH - Stuck Inside A Range 📦Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. ETH has been stuck inside a range between 1750 support and 2000 resistance. Lately, ETH rejected the 2000 and now trading lower. As per my trading style, here is my plan: 📉 1- Wait for ETH to approach the 1750 support to look buy setups 📈 2- Wait for ETH to break above 2000 (daily candle) then look for buy setups on its retest 📌 Meanwhile , as long as ETH is sitting midway it would be a no trade zone for me. So I will be waiting patiently! Remember: Good things come to those who wait! 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
18
ETH - All Eyes on 2000 & 1750 👀Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. From a long-term perspective, ETH has been overall bullish trading inside the rising broadening wedge pattern just like BTC. Lately, from a medium-term perspective, ETH got stuck inside 1750 support and 2000 resistance. As per my trading style, here is my plan: 📉 1- Wait for ETH to approach the 1750 support to look buy setups 📈 2- Wait for ETH to break above 2000 (daily candle) then look for buy setups on its retest 📌 Meanwhile, as long as ETH is sitting midway it would be a no trade zone for me. So I will be waiting patiently! Remember: Sometimes No Trade, is also a Trade. Which scenario do you think is more likely to happen first? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
30
BTC - Bulls Took Over Short-Term ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last BTC video analysis (attached on the chart) we know that the bulls would take over short-term by breaking above the last minor high in gray. Yesterday, BTC broke above the high and approaching a minor resistance in red. Now What? 🏹 For the bulls to remain in control, we need a break above the red zone 29250, in this case we will be expecting further bullish movement till the 31,000 resistance zone. The bears will take over short-term again, if we break below the last minor low (currently around 28250) Which scenario do you think is more likely to happen next? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
10
90k Bitcoin by Dec 2023?2023 looks like it will be bullish. Is it possible that that Bitcoin could reach 90k by late 2023 or even early 2024? Yes anything is possible, however it's not likely. What is likely is the beginning of the new bull market (March/April) is what I believe. Until then, we will only see small movements with volatility growing upward into second quarter of 2023. The Stochastic RSI on the monthly has never had a false signal and historical marked the beginning of the Bull market. Only time will tell, Invest responsible. This is by no means investment advice.
BNC:BLXLong
by WeAreSat0shi
4
BTC - Correction Started! Till When/Where? 🛬Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last analysis (attached on the chart), we know that BTC has been sitting around a strong resistance/supply zone. And we were waiting for the bears to kick in by breaking below the previous low. 📉 The bears took over by breaking below the H1 head and shoulders neckline and lower trendline from H4. Now What? BTC is currently retesting the previous major Daily low in green, if broken downward, expect further bearish movement till the 24k-25k support zone. 🏹 The bears will remain in control short-term UNTIL the bulls kick in by breaking above the last high (around 28,000) Which scenario do you think is more likely to happen first? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
62
Bitcoin(BTC/USD) Daily Chart Analysis For Week of April 21, 2023Technical Analysis and Outlook: The rally of the coin price has reached HKEX:30 ,500, which completes the Intermediate Coin Rally with a strong Mean Res at the same price. A significant pullback is underway, with the price declining toward the Mean Sup of HKEX:26 ,900.There is expected to be a substantial increase in the price, leading to a retest of the Mean Res and Intermediate Coin Rally levels of HKEX:30 ,500. This will be followed by a further boost to reach the Next Outer Coin Rally point of 31,700 and, eventually, the Main Outer Coin Rally point of HKEX:34 ,000. Stay tuned for further price action.
BITSTAMP:BTCUSD
by TradeSelecter
#btcstarburst RINSE AND REPEAT BTC This definitely looks as if it could have the potential for a rinse and repeat pattern how far down… who knows… new likes to say the sky is falling that btc is going to zero. Rinse and retweet the map has been strong… FACTS I don’t set the rules. I could go to 25kish or not. DCA safely… We are not truly bullish until in the clear of 32k. Then game on. So play it safe… ALTS are cheap and dangerous… FACTS… there are other forces in the world that harm the financial markets… DCA SAFELY GANN MAP There are many amazing projects that will make it through to the next bull market and so on… the question is how do you put your eggs in one basket? According to the SEC pretty much all stocks and crypto are securities in the framework … IF Long term an investor has the hopes of profit, so we as investors have exit strategies short or long term… So lets start here…? This seems confusing, vague/open ended…
BINANCEUS:BTCUSD
by Jonnycatx
3
Bitcoin Ready for $36000 in Next 30 Days ?Bitcoin Technical Analysis: Strong Support at $28700, Potential for $36000 Target Bitcoin has been trading at HKEX:29300 , and as per the chart, it has broken out of the $28700 resistance level and is now doing a retest at that level. This article will provide a technical analysis of Bitcoin and highlight the potential for a bullish or bearish trend. Key Levels: Support: $28500 Resistance: $30500 Headings: Bitcoin Technical Analysis Breakout and Retest at $28700 Strong Support at $28500 Potential for $36000 Target Risk of Dropping to $23000-$24000 Breakout and Retest at $28700: Bitcoin has recently broken out of the $28700 resistance level and is currently undergoing a retest at that level. This retest is crucial in determining the future direction of Bitcoin. If the retest is successful, we could see a potential for a bullish trend. Strong Support at $28500: The $28500 level has now become a strong support level for Bitcoin. If Bitcoin bounces back from this level, it could potentially reach the next target of $36000. However, if it breaks below this level, the bullish hope is lost, and we could see Bitcoin dropping to $23000-$24000. Potential for $36000 Target: If Bitcoin successfully bounces back from the $28500 support level, the next potential target is $36000. This could be a sign of a strong bullish trend. Risk of Dropping to $23000-$24000: If Bitcoin fails to hold the $28500 support level and breaks below it, the bearish trend could take over, and Bitcoin could potentially drop to $23000-$24000. Takeaways: Bitcoin has broken out of the $28700 resistance level and is undergoing a retest at that level. $28500 has become a strong support level for Bitcoin. If Bitcoin bounces back from $28500, the next potential target is $36000. If Bitcoin breaks below $28500, it could drop to $23000-$24000. Conclusion: Bitcoin's technical analysis suggests a potential for a bullish trend if it successfully bounces back from the $28500 support level. However, if it breaks below that level, the bearish trend could take over, and Bitcoin could potentially drop to $23000-$24000. This is not financial advice, and readers should conduct their research before investing in any coins. Follow us for More Quality Content. Thank you
Long
by CryptoPatel
3
Digital Assets Outlook 2023Digital assets have had a strong early 2023 Digital asset prices, led by Bitcoin, have had a strong 2023 so far. Bitcoin is up by over 70% this year and Ether is up by over 50%1. Together, these two assets still account for over 63% of the total market cap of the digital assets space. While the US Federal Reserve (Fed) is still raising interest rates, the market seems to expect that the recent bank failures (Silvergate Bank, Signature Bank, Silicon Valley Bank, Credit Suisse) will lead to central bank easing. Lower interest rates would benefit long-maturity assets, such as digital assets. Moreover, several traders have been caught off-guard and short-sellers expecting more downside in digital assets have had to liquidate positions leading to higher prices. We believe we could be on the cusp of the fourth major bull market in crypto, although the exact timing is uncertain. Our belief is that the next bull market will be enabled by advancements in speed and scalability of the blockchain networks, more intuitive user interfaces, and innovations in blockchain wallets, as well as developments in digital identity, which will pave the way for Web3 applications. The critical determinant, of course, will be the user applications that will take the market by storm and we will keep monitoring potential candidates on a continuous basis. Despite dismal price action last year, digital assets are supported by a healthy and vibrant software developer community. The number of monthly active developers actually rose last year by 5%2, which is significant, and confirms our view that developers remain actively engaged in their respective blockchain ecosystems. Layer 2 networks finally coming into their own, promising to solve the scalability issue The main impediment of current Bitcoin and Ethereum networks has been their inability to handle a large volume of transactions. It is estimated that, without a layer 2 solution, Bitcoin can only handle approximately 7-10 transactions per second while Ethereum can only handle approximately 15-30 transactions per second. While it is on Ethereum’s road map to be able to ultimately handle 50,000-100,000 transactions per second, this is not a reality at the moment. As a contrast, Visa is said to handle at least 1,700 transactions per second although there are some estimates that Visa could handle up to 24,000 transactions per second and Visa itself is claiming this number to be as high as 65,000 transactions per second3. One way to solve the scalability issue of blockchains is to use a layer 2 network, which is built on top of a layer 1 blockchain. Layer 2 networks move transactions off-chain, roll them up and bundle multiple transactions into a single transaction, which can then be secured on the layer 1 blockchain benefiting from underlying blockchain’s security and robustness. This bundling enables faster throughput, faster settlement, and lower prices. For Bitcoin, the most well-known layer 2 solution is the Lightning Network, while for Ethereum there are several options available, including optimistic rollups, zero-knowledge rollups (ZK rollups) and sidechains. It is also worth mentioning that the Ethereum network is expected to go through so called ‘sharding’ later this year, which is expected to split the network into separate ‘shards’ thereby increasing the capacity of the network and reducing the transaction (gas) fees in the process. Digital USD tokens emerging as a major use case Stablecoins, digital tokens issued on public blockchains and pegged to an underlying asset, such as a currency or a physical asset, were initially used in trading and interexchange settlement but have become increasingly popular in payments and remittances. Because stablecoins are global and accessible to anyone, they offer an attractive way to cheaply and securely transmit money around the world 24/7 and settle transactions (almost) instantaneously. The world’s largest stablecoin, Tether’s USDT, is particularly popular in Asia, while in the West Circle’s USDC is widely used. Stablecoins are designed to offer stability while an asset like Bitcoin is more volatile. To give an idea of the magnitude of transaction volumes, last year, Visa settled HKEX:12 trillion worth of payments, mainly related to consumer spending, while stablecoins settled HKEX:8 trillion worth of on-chain transactions, higher than the $2.2 trillion settled by Mastercard or HKEX:1 trillion settled by American Express4. This year, it is possible that the combined amount of stablecoin transactions exceeds the payments settled by Visa. These stablecoin transaction volumes, of course, are not related to consumer spending but rather to payments, trading and decentralised finance, and do not take into account trading volumes on centralised exchanges. Competition for instant payments heating up The market for instant settlement of payments seems to be in flux at the moment. Crypto regulation in both Europe and the US are focusing on stablecoins and are expected to set stringent reserve requirements for stablecoin issuers and also forbid interest being paid to stablecoin holders. We view transparency requirements into reserve assets of stablecoin issuers important but also believe that attention should be paid into issuers’ risk management, cybersecurity, and blockchain code testing quality. In the US, the Federal Reserve is planning to launch an instant payment system called FedNow in July 2023. The network will not be based on blockchain but will be able to settle payments in seconds and can support transactions between consumers, merchants, and banks. Some believe that the closure of Silvergate’s SEN network and Signature Bank’s SigNet network in mid-March 2023, both offering instant settlement service where clients were able to move assets between fiat currencies and crypto exchanges at any time, could have had something to do with the launch of FedNow. Around the world, central bank digital currencies (CBDCs) are also being actively developed. They offer a digital form of a government-issued currency that is not pegged to any physical commodity and these digital currencies will continue to be based on the fractional reserve banking system. In Europe, the European Commission adopted a legislative proposal in late October 2022 that mandates all banks to offer instant euro payments to any individual with a bank account in the eurozone. At the moment, the EU banking sector, on average, lags behind other major international markets in instant payments, although single-country solutions have been adopted and variations between countries are large. In some European countries, instant payments cover 70% of banks but, in others, only 1% of payments are settled instantly. The European banking sector has stated that they need up to two years to make banks instant-payment ready5. Europe has its own version of an instant settlement network. BCB Group, regulated in the UK and Switzerland, offers BLINC network that links crypto companies to the banking system and enables business accounts to trade in fiat and digital assets 24/7. The company already offers fiat-to-crypto rails in sterling, euros, Swiss francs, and yen in Europe and plans to add USD fiat-to-crypto rails by early Q2 2023. BCB’s goal is to plug the gaps left by the SEN network. Unlike SEN, BLINC is multicurrency-based and is not tied to any single credit institution. It was designed as a payment institution to provide on-ramps to banks in Europe, the UK and Switzerland. The company emphasises that its funds are always 1:1 backed and are unleveraged and un-rehyphothecated6. Sources 1 Source: Coingecko.com 2 Source: Electric Capital, 2022 Developer Report 3 Source: Visa Fact Sheet, 2022 4 Source: CoinMetrics 5 Source: Euromoney 6 Source: BCB Group, Coindesk
CME:BTC1!
by aneekaguptaWTE
#ICP HAS BEEN Busy REALLY BUSY WILL IT LADDER up the way it came down probably not to new all time highs any time soon however I would not count this project out… They have been working hard… They don’t about the price, they award the developers for building with grants, they have so much going for them… they are the efficiencies are across the board compared to any other projects in blockchain technology today… these rate the facts… CURRENTLY THERE IS ETH BTC AND NOW ICP IN THERE OWN CATEGORIES. BTC USED TO BE FREE … ETH USED TO BE HKEX:10 WELL ICP is might be one of these technologies … DYOR DCA SAFELY…
COINBASE:ICPUSD
by Jonnycatx
Bitcoin(BTC/USD) Daily Chart Analysis For Week of April 14, 2023Technical Analysis and Outlook: The coin price action exploded through our completed Intermediate Outer Coin Rally of HKEX:29 ,200, Key Res HKEX:29 ,900, and Outer Coin Rally of HKEX:30 ,000 earlier this week's session, as flagged since Daily Chart Analysis for March 17. Current price action suggests a solid rally to Outer Coin Rally and Key Res HKEX:31 ,700. On the downside, Mean Sup is HKEX:29 ,800, the primary target.
BITSTAMP:BTCUSD
by TradeSelecter
ETH - Long-Term View 👀Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. ETH has been overall bullish trading inside the rising broadening wedge pattern just like BTC. However, it is currently sitting around a strong rejection zone: 📌 Here is why the 2000 is a strong rejection: 1- Round number 2- Daily Resistance 3- Previous Major High 📈 For the bulls to remain in control, we need a daily candle close above 2000. In this case, a movement till the upper bound of the wedge pattern would be expected, which would be around the weekly supply zone 2250 📌 Meanwhile, the 2000 is acting as a resistance, and if we break below the orange channel downward, the bears would take over for a correction. In this case, a movement till our previous support 1750 would be expected. Which scenario do you think is more likely to happen first? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
28
Salmonation best project in tokenomic fundamental in IndonesiaSalmoantion is community project wth 100% fairluanch liquidity dan supply. and it build a blockchain that called BeOne Protocol. as my opinion and anylize for a year this project development is above average from other project in Indonesia. the chart is organic as we see , and lot big bag holder keep their investment almost a year. and the only survive market winter in Indonesia only this project. yea the developer is focusing in development their BeOne for a year and now is on NET, I'm also one of the long term holder for this project . and waiting their bridging protocol. they are interesting idea that developer tell to the community to give more trust to the public , by makin decentralized tokenomic for all user. and the plan to develop multiplatform use by one Token. in their chain. keep update for this one. keep an eye! as we know Indonesia is big country with a Huge Material Resources.. we never know black gold ( oil ) can be custodial in the future
S
by salmonmeidy