ETHUSDTEthereum daily and 4-hour time frame
Ethereum is pulling back to the bottom, and with capital management, you can enter a short position.
Cryptocurrencysignals
ALGOUSD Pump of the day! Huge buy opportunity.Algorand (ALGOUSD) is having a huge pump today as it smashed above the 1D MA50 (blue trend-line) for the first time since April 01. This rally has been generated after holding and bouncing on the 1W MA50 (red trend-line) for the 2nd time since January 23.
This gives shape to a Channel Up, not so different from the one that led the token to its peak during the previous Cycle. The 1D MACD has just formed a Bullish Cross, indicating that we are still at the very start of the new rally. Our Target is 2.000 (Fibonacci 0.9 retracement level).
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ETH/USD potential bearish dropPrice has just rejected off a resistance level which is an overlap resistance that aligns with the 50% Fibonacci retracement and could potentially fall to our take profit.
Entry: 3249.60
Why we like it:
There is an overlap resistance level which aligns with the 50% Fibonacci retracement.
Stop loss: 3430.18
Why we like it:
There is an overlap resistance level which aligns with the 78.6% Fibonacci retracement.
Take profit: 2905.74
Why we like it:
There is a pullback support level
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BITCOIN Can it hit $110k this Summer?Bitcoin (BTCUSD) hit yesterday its 1D MA50 (blue trend-line) to test it as a Resistance following the bearish break-out last week but got rejected. This is a discouraging sign short-term for any bullish attempt but it very consistent with all previous bottoms since the November 21 2022 market bottom.
** The 0.382 Fibonacci **
As you can see, all major rallies since that date pulled-back and found enough Support on the 0.382 Fibonacci retracement level exactly. Then once they closed a 1D candle above the 1D MA50, the new Bullish Leg was confirmed. On both bullish sequences, the top was priced on the -1.0 Fibonacci extension exactly. The above conditions indicate extremely high symmetry and consistency on this pattern.
** The MACD Bullish Cross **
At the same time, the emergence of a 1D MACD Bullish Cross came right after the bottom. Today BTC is about to complete such Bullish Cross. In fact since the November 2022 bottom only 1 out of 6 MACD Bullish Crosses failed to deliver a new High shortly (May 27 2023) and still this was insignificant as BTC formed another that broke above the 1D MA50 only 20 days later.
** 110k this Summer? **
It is therefore obvious that the last condition that needs to be fulfilled in order to have a legitimate case for a new Bullish Leg, is for Bitcoin to close a 1D candle above the 1D MA50. When it does, the next most likely Target according to this model, i.e. the -1.0 Fibonacci extension, is $110000. Unrealistic as it may seem, this Target wouldn't just hit Fib -1.0 on the horizontal but also the top of the (blue) Channel Up and the 2.0 Fibonacci Channel extension. And all this is possible by the end of this Summer.
Do you think this is a legitimate price to expect this soon that high? Feel free to let us know in the comments section below!
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ETHEREUM Massive support cluster on this Bull Flag. Target 10k??Ethereum (ETHUSD) traded exactly the way we wanted it last time we looked at it (January 09, see chart below)
At the moment, the price is trading below the 1D MA50 (blue trend-line), having recovered the 1D MA100 (green trend-line) on what was a bottom on the 6-month Bullish Megaphone. This Higher Low was almost priced on the 0.382 Fibonacci level.
That is similar to the June 15 2023 Bullish Megaphone Higher Low on the 0.382, which as it held the 1D MA200 (orange trend-line), it pushed the price to a rebound. However the 1D MA200 was broken (closed a 1D candle below) after and ETH had to find Support on the 0.5 Fib before it started the current Megaphone. The peak came almost on the -1.00 Fibonacci extension.
As a result, as long as Ethereum keeps the 1D MA200 intact, we are bullish. If it closes even a single candle under the 1D MA200, we will wait for a comfortable buy on the 0.5 Fib (2500). On both cases, the Target is $10000 (Fib -1.00 extension).
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BITCOIN Is an aggressive break-out imminent?Bitcoin (BTCUSD) is struggling to break and close above the All Time High (ATH) Resistance having almost completed 6 weeks of sideways consolidation and candle closings below it. On any other occasion, that would be a bearish signal, an inability of the market to find enough willing buyers to push it to a new High. But with BTC's historic cycles this has proved to be just a stepping stone before the most aggressive phase, the non-stop rally that drives the Cycle to its peak.
The 3W LMACD indicates that the market is proportionally on that exact same level that it normally is when it tests the prior ATH, before it breaks it. With the LMACD trading within a Channel Down since the very beginning, this test happens when it hits the 0.618 Fibonacci Channel level. When the LMACD's blue line starts approaching the 0.786 level, this is when BTC closes above its ATH and starts rallying strongly (blue circle).
The final part of this phase is the peak formation (red Rectangle) and it happes when the LACD approaches the top of the Channel and reverses before it makes a Bearish Cross. We estimate this to take place within the (admittedly) wide range of 150000 - 300000, depending on market conditions and relevant global demand from ETFs.
But what do you think? Do you expect Bitcoin to rise parabolically if it closes above the ATH level? Feel free to let us know in the comments section below!
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$NFP Breakout Double Bottom
Trading the double bottom pattern involves identifying a bullish reversal pattern on a price chart and making trading decisions based on the pattern's confirmation. Here's a step-by-step guide on how to trade the double bottom pattern:
1. **Identify the Double Bottom Pattern**: A double bottom pattern appears on a price chart after a downtrend and consists of two consecutive troughs (lows) with a peak (high) between them. The lows are approximately equal and signify a possible reversal in the downward trend.
2. **Confirm the Pattern**: Before initiating a trade based on the double bottom pattern, it's essential to confirm its validity. Look for several signs to confirm the pattern:
- Volume: Ideally, the volume should decline as the pattern forms and increase when the price breaks above the confirmation level.
- Symmetry: The two troughs should be roughly equal in depth and width, forming a "W" shape.
- Price Breakout: Wait for the price to break above the peak (high) between the two troughs, confirming the pattern.
3. **Entry Point**: Enter a long position (buy) once the price breaks above the peak (high) that separates the two bottoms. Some traders prefer to wait for a slight pullback after the breakout for a better entry point.
4. **Stop Loss Placement**: Place a stop-loss order below the lowest point of the double bottom pattern or slightly below the breakout level. This helps to limit potential losses if the pattern fails to hold, and the price resumes its downtrend.
5. **Take Profit Target**: Calculate the distance between the lowest point of the pattern (the bottom of the "W") and the peak (high) that separates the two bottoms. Then, project this distance upwards from the breakout point. This distance can serve as a potential target for taking profits.
$EDU looks ready for bounce Sure, here's a concise explanation of demand and supply trading in four points:
1. **Identification of Supply and Demand Zones**: Traders analyze price charts to identify areas where supply and demand imbalances occur. Supply zones are where there's an excess of sellers, causing prices to fall, while demand zones are where there's an excess of buyers, leading to price increases.
2. **Price Action Confirmation**: Traders use price action confirmation techniques to validate the presence of supply or demand zones. This may involve looking for specific candlestick patterns, volume analysis, or other technical indicators that indicate a shift in supply or demand dynamics.
3. **Trade Execution Based on Zones**: Once supply or demand zones are identified and confirmed, traders enter positions based on their trading strategy. They may sell or short at supply zones and buy or go long at demand zones, aiming to capitalize on price movements driven by these imbalances.
4. **Risk Management**: Proper risk management is essential in demand and supply trading. Traders set stop-loss orders to limit potential losses and manage position sizes to protect their capital. By managing risk effectively, traders aim to preserve capital while maximizing profits from successful trades.
HEXUSD The downtrend is intact. Lower prices to be expected.HEXUSD has been trading within a long-term Channel Down since September 2021 and the current weekly rise doesn't seem to be able to alter that. It will be the first green 1W candle after 6 red in a row.
The pattern so far gives roughly -97% Bearish Legs to the 1.786 Fibonacci extension and then Bullish Legs towards the top of the Channel Down. As a result, we expect prices to at least 0.000800 (Fib 1.786) before we can consider again a medium-term rebound in the form of a Channel Up (dotted).
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COINBASE around the 1D MA50 but the MA100 more likely to supportCoinbase Global (COIN) rose as high as our last target (March 05, see chart below) and has been pulling back since:
The best way to view this short-term correction is on the diverging Channel Up (blue) which started on the October 27 2023 bottom. As with the longer term Channel Up, it consolidates considerably below the 1D MA50 (blue trend-line), with the last (February 05 2024) Low finding support just above the 1D MA100 (green trend-line).
As a result we expect a Higher Low for the diverging Channel Up close to 185.00, before start seeing the new Bullish Leg. In addition, we need to see the 1D RSI touching its 2-year Support Zone, which usually tends to touch it twice during an Accumulation Phase. The price also tends to Double Bottom. This means that there will be time most likely (always account for how strongly the Bitcoin Halving might do to the market) to identify the new bottom and most optimal buy entry based on the conditions above.
We are willing to buy there for the Bullish Leg that will follow and target $370.00, which is the top of the long-term Fibonacci Channel. Note that in case of a break-out, the price can even go as high as the 2.0 (blue) Fibonacci extension ($440.00), which is around the Fib level that the last two Higher Highs where priced.
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BTC Halving only few hours away! Youre NOT READY for this rally!Bitcoin (BTCUSD) is less than a day (only a few hours) away from the new Halving and naturally all eyes are on this historic event, the 4th in succession. We all know the fundamental specifics and how a -50% less Supply can drive the price higher as long as Demand stays intact.
What people may not know (or may not be able to comprehend) is the pure magnitude of the rally that is about to begin in the next few weeks. Let's put all into technical context in order to understand just how high BTC can go.
** Fibonacci Channel and Mayer Multiple Bands **
We are all familiar with the Channel Up that started on the December 2017 High. With some variations, it has been so far very consistent. The application of the Fibonacci Channel retracement levels and the Mayer Multiple Bands, helps us get a good understand of the relative position we might be at compared to the previous Cycle.
** Have we been here before? **
As you can see, BTC has been consolidating since the March 04 1W candle within the 0.382 - 0.5 Fibonacci Channel range. At the same time, the Mayer Multiple Standard Deviation Upper 1 level (grey line) is supporting, in fact it was touched this week. The is a similar price action amoung the exact same levels we had from November 16 to December 07 2020. Interestingly enough, the 1W CCI sequences that preceded this between the two fractals, are also similar.
** How high can we go? **
As for how high the Cycle can rise to? The previous Cycle peaked on the 1.618 Fibonacci extension (from the previous High to the bottom). The same specification gives us $170000. But besides the 1.618, the price reached the top of the Channel Up and the MM STD Upper 2 (orange line), making a rise from the consolidation's low of +300%. If this happens again, BTC can even reach $240000.
This is far from an unrealistic range projection, $170k - $240k, for the Cycle High. But what do you think? Will we fall somewhere between or higher/ lower? Feel free to let us know in the comments section below!
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INJUSD Bottom of the Channel Up. BUY.Last time we looked at Injective (INJUSD) was 4 months ago (December 18 2023, see chart below) and gave us an excellent sell signal that hit the 30.000 Target:
The price now sits at the bottom of the Channel Up and this is the most optimal buy entry for the long-term. We expect another +715% rise, targeting 150.00.
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BITCOIN Is this simply a big Bull Flag?Bitcoin (BTCUSD) touched today the bottom of the Channel Down pattern that started a month ago on the March 14 High. Ever since is posted Lower Highs and Lower Lows, dropping under the 1D MA50 (blue trend-line). Since the long-term trend for months has been a parabolic rally, this pattern can be seen just as a big Bull Flag, a necessary short-term pull-back before new Highs.
As BTC is approaching the 1D MA100 (green trend-line), it is important to know that the last time it did was on January 23 and it held it as Support, closing the 1D candle above it. Technically that is the tolerance limit, in order to the uptrend to stay valid with low entry buyers.
The January 23 Low initiated a rebound that peaked marginally above the 2.618 Fibonacci extension, the March 14 High. If the same pattern is repeated, we can see $95000 by June.
How probable do you think that is? Feel free to let us know in the comments section below!
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BTCUSDPair : BTCUSD ( Bitcoin / U.S Dollar )
Description :
Completed " 1234 " Impulsive Waves
Consolidation Phase
Break of Structure
RSI - Divergence
Rising Wedge as an Corrective Pattern in Short Time Frame
ALTS withstanding the final Resistance before ATH rally.It couldn't be any more simple than that. The altcoin market is having the last short-term correction before an surge past the All Time Highs (ATH). The Pressure Zone 2, which is the Resistance Zone coming off the Bear Cycle's first Lower High, is the last volatility variance and effectively last opportunity to enter before alts start the most aggressive part of the Bull Cycle.
As you can see, they traditional lag behind Bitcoin (BTCUSD), which has already broken past (even marginally) its previous ATH. The pattern is identical to the last Cycle and based on historical behavior, there is no reason to expect something different this time too.
Get ready for a very aggressive Altseason.
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BTCUSDTThe price did not reach our entry point and moved towards our target. Now we can wait for it to reach our demand area and wait for the price reaction from there.
ETH/USD: Dodging the 4K Rejection and Riding the RollercoasterHey there, crypto warriors! Get ready to dive back into the ETH/USD battleground – it's time for another epic trading update that'll make your heart race faster than a DeFi token pump!
So, let's rewind to our last analysis. We talked harmonics patterns, support zones, and resistance levels – all the good stuff. But guess what? The plot thickens, my friends!
Fast forward to today: We're facing some serious drama on the weekly charts. That's right, we gave the infamous 4K level a good old-fashioned rejection, sending us on a downward spiral. But fear not, brave traders – we're not out of the game just yet!
Taking a closer look at the charts, we're hitting some key Fibonacci levels like a boss. The shadow of the candle landed right on the 61% fib, and we're currently hovering above the 31% – talk about walking the tightrope!
Now, here's the million-dollar question: Are we ready to make a move? Well, it all depends on those cheeky daily candles. If they keep confirming support like they're supposed to, we might just be in for some bullish action. But hey, if you're not feeling it, there's no shame in waiting for another drop to that sweet, sweet 61% fib or even our initial entry point.
But hey, remember the golden rule of crypto trading: Buy the dip, hodl the moon! And hey, if all else fails, just blame it on Elon Musk – works every time!
So, here's to the brave souls riding the ETH rollercoaster – may your trades be profitable and your memes be dank!
Keywords: ETH/USD, trading update, Ethereum analysis, Fibonacci levels, support zones, resistance levels, volatility, risk management, cryptocurrency news, rollercoaster ride, trading strategies, investing, dollar-cost averaging, Elon Musk memes.
BITCOIN May 2020 VS April 2022 Halving. Striking similarities.Bitcoin (BTCUSD) is only a few days before the new Halving event and is already below its 1D MA50 (blue trend-line) for the first time in 2 months, having broken the previous Ascending Triangle pattern.
This is a sequence that we have seen before during the previous Halving (May 11 2020). Of course the Halving took place at the start of the Ascending Triangle and not after it broke but we want to grasp the general picture and as you see the price action around this critically important fundamental event is very similar.
The goal now is for BTC to hold its 1D MA100 (green trend-line) intact as it did in June 2020 (also held it last time on January 23 2024, which delivered a remarkable rebound) and attract new long-term buyers. Notice also the similar 1D RSI Falling Wedge patterns.
The 2020 Triangle reached its 2.0 Fibonacci extension, so that is our next medium-term Target at $90000.
Do you think the 2020 fractal will be repeated? Feel free to let us know in the comments section below!
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COREUSDT Immediate target = $10.00Core DAO (COREUSDT) declined after a remarkable +735.93% rise buy found Support on the 1D MA50 (blue trend-line). Yesterday posted its 2nd strongest green 1D candle in history and when the 1D RSI breaks above its MA trend-line, we expect the new Bullish Leg to be confirmed. Our Target is $10.00, which represents another +735.93% rise from the bottom.
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BITCOIN Holding the ATH Zone! Is this like 2017?Bitcoin (BTCUSD) made a sharp decline on Saturday and is now in the process of recovering. The 1W candle wick dived as low as the low of almost 30 days back (March 20), extending the 1-month consolidation since March 13 High. This is of course directly related to the fundamental aspect of BTC's Halving, which is due at the end of the week and historically exerts high volatility onto the market.
Buy even from a technical point of view, those two sell-offs found Support and held the (red) All Time High (ATH) Zone, which is the range taken from the closings of the previous ATH candles. As we can see on the right chart, it was the exact case on the 2014/ 2017 Cycle, which is the Cycle that we first here most tightly correlated Bitcoin's current Cycle.
More specifically, the March 20 and April 10 2017 1W candles, were both contained at the bottom of the ATH Zone and sharply extended the rally right after. This means that the Halving event can be the ideal fundamental 'excuse' to kick-start the rest of the technical rally and fulfil the pattern.
But what do you think? Will history be repeated once more? Feel free to let us know in the comments section below!
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ONDOUSD Textbook Channel Up.Ondo Finance (ONDOUSD) has been on a Channel Up pattern since its first trading days, supported by the 1D MA50 (blue trend-line). Its last Higher Lows was priced on that exact level, so did the one before (March 19).
The last Higher High was been -11% shorter than the previous, so assuming this is a progressive pattern, we expect a new Higher High at 1.5000 (+ 157%, i.e. -11% lower than the previous).
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Big Time #BigTime $BigTime Big Time is a perfect example IMO of how people love to #Fomo into ideas while thinking and often even saying out loud how they just WISH they could have been earlier and or had opportunities to buy at lower prices but yet when those times come, they don't show up to buy. lol.
I personally remember thinking at one point many months ago that even if we did get a HUGE correction that I didn't think this would ever again go below the 4.28-$0.29 ranges again. It left and broke through the old all-time high at $0.29 with such force and vengeance and didn't even bother coming back to retest it that i thought it was possibly never coming back below it. If anything, maybe come back and test it for an immediate bounce. However, it came back so far and has crashed so hard IMO this is a GREAT place to begin buying especially for a longer-term hold, but even for a swing trade on this immediate cycle's current moves.
It was crazy how everyone wanted to HOPE they could catch dips below $0.40 ranges and would often even just eat up dips in the $0.48 ranges while talking about how it was going back above $1 and would soon be $3 before $5. Lol now at these prices no one wants to BUY it, lol!
I have begun buying and DCA with force during this dip and think that I will EASILY see 2x in the near future and with patience and still within this cycle 3-5x.
This is actually a working product unlike just pure speculation and vaporware that so many others currently are.
And yet it is below WAY below all major SMA's and EMA's IMO this is the times you buy the FEAR to later sell the Greed of others.
I've purposely given you the same chart and layout but on two different time frames to help newer traders coming into this cycle see how different things can look on a daily vs a weekly time frame.
I think that this can really help speed up learning for many and to open their minds to variables.
As you see the daily can easily in this case look much more instantly bullish and give you the greater feeling of FOMO #Fomo to jump in. Whereas the weekly can give you more of a tactical view and help with your approach being so.
Hopefully some of you find this chart helpful during this stressful pullback/flush that I'm aware has really beaten down and or killed many portfolios for traders.
I've fallen off on posting/sharing my charts these last few months while I was trading ALOT myself and on multiple platforms and various ideas. However, during these more stressful times I will try and stay more active with updating what community I have.
For my birthday without cause or warning X shutdown my larger account @RareBreedOG so I'm starting over fresh with almost no followers now for the algorithm. That being said I would greatly appreciate help with you hitting the like /Follow/share buttons as much as possible if you find these charts helpful at all or even just want to help me rebuild my following after getting Fu**ed by X. For this reason, I don't plan to pay for a checkmark this time around either, but you can all help give me reason to keep sharing and not just leave to other platforms.
Everyone stay safe and trade wisely and be careful with leverage in these uncertain times.
