Ethereum: Box, Box! 🏎🏎🏎The bearish trend is not over, yet! We still expect the price for Ethereum to drop and enter the blue trading zone. From there, the renewed upward potential will emerge and the prices can start to push for new bullish runs. However, the price should not substantially fall below $1000.
Be patient!
Crpyto
THE MOMENT WE'VE BEEN WAITING FOR??BTC is trading in a decent side symmetrical triangle. This pattern is not bearish nor is it bullish, it can go either way ladies and gents. So I will stay neutral until conformation. As you can see, a break out is imminent! PRESSURE BREAKS PIPES AND THE PRESSURE IS ON THE CHARTS! I believe it will occur no later then the 13th of July and this breakout will be the moment of truth. A huge dip can occur before breaking up....this is what I call a "fake out" or shaking out weak hands lol...the same goes for the upside. Volume and breaking/closing above resistance or below support will confirm the direction that SIR BITCOIN will choose. This story is far from over in my opinion. So buckle up ladies and gents! This one will be a ride.
Disclaimer: I'm NOT a financial adviser...just a regular "joe" voicing my opinion :)
Peace Love Money ;)
Will ETH gain enough strength to surpass the 2400 level?In the last 10 days we saw ETH recovery from 1715 to 2390.
But if we want to forecast it’s future move we have to see how this recovery happened.
- It began strong - $570 in 4 days
- it then continued with a little bit leas strength - $372 in 2 days making a slightly higher high and then another downside move.
- Now it’s going back up, but if there will be an upside continuation we should see a stringer move.
As of right now we don’t see much strength or any buying pressure.
The levels before 2400 present a good opportunity for collecting profits and possibly new entries on a breakout, or after a correction.
Gravestone 3M candle Crypto Market CapTonight the 3M candle closes for the Crypto Market Cap (Excluding BTC) chart and we seem to have printed a gravestone candle , signalling a reversal of trend . If you look at the 3M candle of April 2018 we can see that price did in fact reverse.
So what could play out here is price coming back down to 2/1 Gann Fan ratio and testing previous all time high before restarting the uptrend and that won't be till October 2021 , I have gone over the idea of the bull market restarting September/October 2021 and peaking May 2022 , take a look at my previous TA going over this idea
Crypto Market Cap Cycle Peak 2022 10.3TThis analysis will be taking a look at the total crypto market cap "excluding Bitcoin".
The Alt coin market topped out at 1.5 Trillion Dollars before crashing down to about 700 billion and I do think there is still more downside to go with a fairly long consolidation in play. The question is where do we bottom at the previous all time high 534 Billion Dollars or the 0.382 Fb at 379 Billion Dollars.
If the Alt coin market did retrace to the 0.382 Fib, that could mean we would see ETH under 1500 and LINK at 10 dollars. Recovery could start around September 2021 and peak in May 2022 at 10.3 Trillion Dollars.
Important Points :
Fibonacci Time Zone = Week of May 16th 2022
Fibonacci Spiral crossover point = September 2021
Red trend/resistance line coming in from 2015
The Recovery timeframe is in line with the Bitcoin recovery , take a look at my previous TA
Bitcoin Analysis and Market Cycle, Bull run is over ?Hi guys, today we want to analyze bitcoin and cryptocurrency market
After bloody month (May) Bitcoin is now in a sideways and consolidation phase and everyone is waiting for Bitcoin to come out of its compression
We also have a symmetrical triangle pattern and a box in the 12h timeframe, which as you can see price compressed between the 40k resistance & 33k5 (33,500) support.
But what is really going to happen to the crypto market?
At higher timeframes, I expect a large 100-day correction pattern (Desc Channel or Falling Wedge) that can take bitcoin into bear phase , But after the waves are over, I expect it to start the uptrend in mid-August to September 20th.
As I mentioned in the chart, I expect more correction in the mid-term
We now consider two scenarios:
1- Bitcoin breaks triangle and 40k resistance upwards: in this case,I expect the price to reverse the downward trend of the channel at 45k
2- Bitcoin breaks the downward : due the weakness of Bitcoin in the formation of reversal waves this scenario is more valid in my opinion, I expect Bitcoin to lose support of range box (between 40k-33k) and hit a lower low on 28k5 - 24k level which is also the bottom of the descending channel.Then I expect a positive macd divergence and bitcoin will be reversed from here.
Now let's take a look at the weekly chart (long-term) :
See the price reaction to the middle line, shouldn't we expect forms a pivot on the middle line in the 24k level ? I think this is a possible scenario due the Bitcoin's past behavior
In the end, I expect more correction in the crypto market in mid-term, and I think we may see huge correction patterns in Altcoins like September 2020 , and I do not expect the new ATH until after August (time analysis)
Bitcoin Roadmap (Market Bottom)This TA is zooming into a section of my previous TA "Bitcoin Roadmap" which I will include below.
Looking at yesterday's price action we can see that price reacted off the 0.382 fib fan pretty aggressively , even though we had a good bounce I still think there is more downside.
The 0.5 Fib will act as major resistance and has been since June 19 , yes we did break it June 13 but I wouldn't count that as an organic movement since it was clearly a set up for massive short positions on the market.
If we fail to break 35000 and get rejected of the 0.5 fan fib then there is high probability that we come down to 0.5 fib retracement and this is where you load up long term for bitcoin , this golden box is where I believe the market will bottom for this bullrun. I have also included a potential micro date for a shift in momentum using Fib Time zone and that date is July 17.
I have been getting a lot of messages asking about leveraged positions if price comes down to this area and I would say not yet, best to just accumulate in this area , when looking at long term leveraged positions you have to calculate funding rate vs price increase overtime ,is it worth paying those funding rate fees when momentum is so low not really.
If bitcoin does break the 0.5 Fan fib to the upside before reaching the golden box this analysis is invalidated , this could take 20-30 days to play out.
BITCOIN IS IN THE EDGE!!!Bitcoin is re-testing the Symmetrical Triangle Support that was form a couple weeks ago.
From this perspective we could see Bitcoin will drop soon, but from the Price Action that shown to us through the Chart.
I also can say that El Salvador's News kinda make Bitcoin price confuse a little bit before continuing the clear trend or movement.
Hopefully the price can hold above the EMA 21 , 34 & 55 first and breakout the Resistance.
Wish you well and have decent profits.
Disclaimer: This content is not a Financial Advise.
BTC BTC BTC AND SOME ELONWELL I WISH I POSTED THIS EARLY. Sent to my own chat on tele, that i expected a drop into the green zone. Touched and bounced hard. Still time left in this 4hour candle. If we close in a similarly bullish way i expect us to bounce back and test the boundaries above. ISSUE IS, The 100 EMA which has been SMASHING BTC for weeks now will lay in this red area, Along side this we have the already difficult pendant which we can't seem to get out off, whats worse now is that ascending channel which had the bottom line as support will likely turn strong resistance. All in all ELON done quite some damage. A lot more than i hoped. The market is stupid.
TRADING IDEAS OF COURSE NOT ADVICE :)
BTC Analysis Formed a pennant, this is a typical continuation pattern. As we are in a downtrend we could see a further continuation of the downtrend to support around $29,000.
Buyer volume looks weak trading below resistance as highlighted. The seller waves look greater than the buyers in comparison and the price is now trading below the 21 moving average which is bearish until it breaks above.
If we can break above the resistance and out the pennant with a retest of the pennant then $42,000 would be resistance.
Technicals all indicator showing not many buyers present yet and strong seller waves with the money flow index still in the red with sellers in control.
Still taking time to develop, an important one to watch as the market will follow it.
May 31st Decision Time (Part 2 Bitcoin)I have been following May 31st Fib Time Zone for weeks now and today is the day, will we see that shift in momentum? We are currently in a triangle and we need to break 2/1 Ratio to start moving higher. We can also see bullish divergence also forming on the daily RSI. I will include all other May 31st TAs below.
Bitcoin Top Oct-Dec 2021 I took the 2017 fractal pattern from the first big pullback of the last cycle and added to this cycle showing a top on October 25th 2021 very interesting. Now that we hit 30000 ,we have three confluence points that create this bottom support line that puts together the final piece of the puzzle.
The Date can be narrowed down between late October to December 2021 with a price range of 155000 to 190000 dollars. I strongly believe that the genesis line(ibb.co) will not be broken this cycle it will act as resistance like it did in June 2019 at 14000. We also have a Fib time zone date coming in the week of December 13th 2021.
All bitcoin needs to do is not break this newly formed support line and we are good , a break of this support line and this analysis fails.
May 31st Decision Time (BITCOIN)We are coming up to the most important week of the bullrun for bitcoin , do we hold the 0.618 (fib Fan) Losing this fib level would change all Macro projections for this bullrun. May 31st is the day that could see a shift in momentum.
May 31st is a Monday, I expect a big move to start happening early hours of Monday before the trading day even starts for most. If these Fib time zones turn out to be accurate pivot points in bitcoin the next one would be January 10th 2022, the top of the Fib Band on this date will be 280k bitcoin which lines up with Plans B price prediction of 280k.
cointelegraph.com
If we do break this fib level(0.618 Fan) and starting closing weekly candles under it, next targets would be about 25k and this would be the last line that bitcoin needs to hold to keep this bull run going, a break of 0.75 Fib Fan would confirm that we are going into some kind of a small bear market.
BTC OutlookIf $30k holds, BTC will seek out $50k, with a $125k target in mind.
If $30k fails, $20k is the floor that needs to be tested.
BTC has maintained a constant uptrend since its inception. Long-term prospects for next target ($125k) are still good as long as BTC remains above $12k. Anything lower will indicate changing trend and should flush out many hands.
Concerns over Bitcoin's energy consumption are valid and tangible threat to BTC's growth. In the world of tech, being first to market does not guarantee long-term success. Bitcoin was able to experience explosive growth due to their single-hand dominance in the crypto-currency market. Now that there are hundreds of competitors who are multitudes of times more efficient than BTC, we can come to agree that "past performance is not indicative of future performance."
Note: Logarithmic scale used
Reversal Starting May 31st (BTC)If we start closing weekly candles above this 0.168 fib level we could see the start of a reversal coming , the date I get with the Fib time zones is May 31st . I have been covering this date here for weeks about that date possibly being an important pivot point , if we start closing weekly candles above 0.168 fib the chances are, momentum will swing to the upside. If we do break this fib next ,target would be 24k at the 0.75 fib.
Recovery will take weeks if not months, HODL .
If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.
– Satoshi Nakamoto