BITCOIN ANALYSIS Bitcoin still consolidating in a range . analysing the possible scenarios in this video
Crytpocurrency
ETH/USD: TECHNICAL AND FUNDAMENTAL FORECAST ANALYSIS | LONG🔔Bitcoin, Ethereum, and the rest of the cryptocurrency world continue to tumble from what many viewed as unsustainable levels. Several factors are contributing to the sell-off. Chinese regulators called for regulation into cryptocurrency mining and transaction. US regulators changed tax reporting requirements, and institutional clients drop non-core assets from their portfolios, with cryptocurrencies the primary victim. Most overestimate the appetite of institutions for cryptocurrencies and do not understand the correlation with other assets. Nervousness in equity markets, a combination of lofty valuations and a rise in inflationary pressures, adds to selling pressure.
It is not all bad news, as Ethereum developers work hard to solve the carbon footprint problems, which joined the chorus of downside pressures on the entire cryptocurrency market. Developers push forward to change the present proof-of-work system to a proof-of-stake. It will slash electricity costs by an estimated 99%. It will eradicate one issue, but the high gas prices needed for transactions persist. Volatility is likely to remain in place throughout the next few months. While a spike higher is expected, traders should prepare for more medium-term downside until price action can test the 880 to 1,000 support region.
Will bears strengthen their grip on the ETH/USD after a minor reversal and force more downside?
Ethereum expected to touch 1500 levels.Although most cryptos had a major sell off the last week, this week doesn't look any different. I am sure the crypto markets will be picking up sometime soon, but not until lower prices levels are touched again. Ethereum could possibly hit 1500 in the coming week before it can start picking up again.
The Future Of Bitcoin : The Road AheadHi all fellow traders, students and crypto lovers.
It is a great pleasure for me to share my views on BTC. However i must warn you in advance that my analysis is like no other you will see here on tradingview. Meaning that it is just a collection of my ideas and experiences that i place into this asset. Therefor it is not an investment advice and you for yourself must determine what analysis brings forward the most facts and least opinions. Hereby you can decide for yourself how do you want to assess the future of this asset.
Ok, so lets get to it..
As some of you may have noticed the chart i posted is a logarithmic chart of the bitcoin price action since approximately 2015. The reason for this is because in my OPINION such a volatile asset in the early stages becomes a bit more clear regarding its potential IMPORTANT areas. With this i mean to say the way the asset has been developing in the last few years with respect to trends, because support and resistance zones ofcourse will not change any bit.
Firstly, So far we have had 3 MAJOR horizontal zones. The first being 3-5k. This zone is considered important for a couple reasons. The first being that in the first bull run in 2017 has printed one large red candle in this area. Generally speaking from experience, (go and check this out yourself with other instruments) once throughout an impulse in an upwards momentum a red candle is printed, this gives a sign that there is a demand zone for this instrument at this level. The other reason is that in moments of distress such as March 2021 or during the bear market after the 2017 bull run, BTC has both times tested this zone for support.
The second major support zone is currently standing at 13-20k. I know this is quite a broad zone but let me clarify a bit why this zone is crucial as well. As the 2017 bull run came to an end 20k area marked the top for BTC and therefor was a huge resistance at the time being. Following this run BTC made an attempt to go higher in 2019 and failed at the area of 13k. That is why 13k can also be considered a resistance area. However, since the big bull run starting last year we have ripped through this zone without any hesitation. Therefor i still expect this zone to be retested as a support and due to the difficulty pinpointing which side of this zone is more dominant i have decided to keep this entire area as a support zone momentarily with the expectation that the 20k area might already be sufficient for a retest.
The final import zone which is currently a resistance is the 50-65k area. Yes this zone is very broad but in the sense that not enough information has been printed yet to pinpoint the precise range which can be considered a resitance, this whole area must be considered. We saw that in the past couple months BTC has slowed down alot and nearly down 50% from it's all time highs and has definitely faced a hard resistance area up here.
So far we have looked at the 3 major zones i demonstrated on my chart.
Secondly i would like to point out the humongous wedge that is being formed in the logarithmic chart. Yes, here the information is limited to approximately 6 years worth of monthly candles so you are correct if you question the validity of this wedge. However, in this manner you can clearly see the previous time we hit the upper bound of the wedge and started to correct we were in for a longer than expected (atleast most of the hodlers) correction. It is a possibility we are also in for the same treat this time and therefor i urge you to keep your eyes open for a proper plan (Are you a hodler? or are you simply trying to make some money in the next 12 months? or do you have another pre-thought out plan?).
Finally to close things off i have added 2 of the most basic indicators out there to give an image to something that you can't see by just looking at candles and zones. These are simple moving averages, to determine the movement of the instrument and stochastics to check whether we are on the overbought/oversold side of things. Ofcourse there are many other indicators out there but these are basic ones you can add to any strategy to confirm what it is you are seeing. The stochastics are telling us that we may have hit a peak in our buying momentum, however overbought can remain overbought for longer than anticipated while the same goes for oversold. Therefor we can also look at the moving averages to complete out picture a bit more. We can see that the 9, 20 and 50 month are all on a rise which is usually a very bullish signal. however due to the fact that these are lagging indicators that doesn't necesarely mean that the correction hasen't already began.
Right now the 9 month MA is being tested. If this fails i suggest that we may see a move to our previous highs/the 20month MA at around 20k or even possibly the confluence of the trending support, support area and the 50month MA at approximately 13k. Worst case scenario is to me if this fails aswell, then i believe we might head into the 3-5k area.
Note that in the last paragraph i have used all the information i see and possibly add beautiful indicators what tradingview can supply to create an analysis of the scenario of things that are currently in the chart. I will leave all the discussions on the fundamental to you guys including what will the application of bitcoin be? will the energy costs be a problem? and will there be bans/extra taxes implemented on btc? Because i simply want to illustrate how you can construct for yourself to a certain extent an unbiased analysis based on the price action of an instrument.
Thank you for taking your time to read my analysis! A thumbs up would be highly appreciated and i would be more than happy to hear from you in the comments if you have any questions or any suggestions on future analysis/education.
Leezz
BTC Head and Shoulders projection and next support linesThe head and shoulders outlines a lower peak, higher peak, lower peak formation. The neckline is the line that connects the lows of the highs (peaks). Once the neckline was broken the move accelerates down.
The projected distance down is the distance between the head and the lowest shoulder. Here I have measured that distance (shaded area) and then measured the same distance down from the neck point low, which gives the target of the pink line.
However, before this line there is an important support level around $28,000 ish.
BTC has tried to move about the old support line of 42,000. This is now a resistance. And the attempted move up failed. Now we're below it BTC might make another attempt up, but more likely to move lower to 28,000. If it doesn't hold the head and shoulders move is completed at the pink line.
Its so volatile it is hard to know how to play this, honestly even though I think its going down this is too volatile for me to trade short. I'll get stopped out on a rebound. My plan is to see which support line plays out and enter long once my indicators show an entry move back up.
Be careful here, risk manage your trades, which means look at the ATR (through the roof!) and use it to position size accordingly so if you get it wrong you live to trade another day.
Best of luck.
ADAUSD BUY/LONG NOW READY FOR TO FLY LEAST 2.820 - 3.400TICKER CODE: ADAUSD
Company Name: Cardano
Industry: Cryptocurrency | Blockchain
Position Proposed: BUY
Technical Analysis
1. Large Pennant / Falling Wedge (Forming)
2. The market will potentially fall to either Fibonacci Retracement at 0.618 (Golden Zone) 0.786 ( Silver Zone)
3. 1st Take Profit will be at Fibonacci Expansion Safe Take Profit and Flagpole Length
Buy Entry: NOW READY (1.900) - The Market could potentially fall to 1.75
Next Entry: 1.75
1st Partial Take Profit: 2.820 (June - August 2021)
2nd Take Profit: 3.400 (October - End 2021)
I would recommend holding some ADA until price change trend direction
LTC MID-WEEK UPDATE. BOTH WAYS COVERED FOR ANY DIRECTIONAL MOVESimple and easy to read strategy that covers both way to maximize your profits with very little losses. Currently LTC price is in between the two entry points. Pip count solely depends on your brokerage and your leverage. Currently I am using 1:500 on Hugosway. Entry and take profit zones are based on previous wicks on the candlesticks . Having proper placement on support and resistance is crucial as it determines a winning trade and a losing trade. Need help on proper zone placement and other fundamentals that plays within the strategy? Message me
Any thoughts on LTC? Are you buying the dip? still hodling? Any price predictions, bullish / bearish predictions, news that could affect price, etc? Comment below
Will we be bullish or will we see a bearish trend? Wherever it goes, we will be ready for any directional moves.
Do not put any trades in between any entries unless price is touching near resistance or support. If that's the case, place sells at resistance and buys at support with 20-25 pip stop loss to avoid massive losses. When price breaks on either resistance or support, enter for a buy when the resistant zone is broken and sell when support zone is broken with the same 20-25 pip stop loss concept.
What my goal is for you to create your own charts and your own signals without relying on signal groups, callouts, or even myself. You will develop better technical analysis skills, know how to properly place high quality support and resistance , proper advanced risk to reward ratio, etc. At the end you'll create your own signals based on your own analysis which will guarantee make you a more and better discipline profitable trader.
I recommend as for starters to start off with a demo so that you get familiar with the strategy. I hope you are enjoying my content as I update them at the start of each week, mid-week, and at the end of the week. Thank you and appreciate a lot!
LONG XRP COULD BE THE BEST CRYPTO CURRENCYI REALLY LOVE XRP. SUPER-FAST. LOW FEES. DOESN'T CONSUME ALOT OF ENERGY LIKE BTC/ETH ETC. Big Meeting this week with the SEC. Could see this coin explode to the upside in a large way once cleared from the lawsuit. I labeled a load the boat zone. IF you get that price again before the meeting go ahead in stack your bag up. Positive news will send XRP back on all U.S. Exchanges. There will be a lot of buying. Please comment and like. Your thought's are always helpful.
LONG ON DOGEPrice has a support between 33-60 cents thus far. I would not be surprise if this coin was to pick up further social media support from the likes of business owners around the world. Do I think it's the best coin? NO, but it has potential to be worth way more than the current price at which we sit at by the end of the year and also in the longterm view. please like in comment. Do you think this is just a meme coin or will it have further use cause beyond laughs?
1Inch DreamI like the name. This consolidation just looks ready to get pulled. That magnet gets stronger and stronger as DeFi gets more streamlined.
DOGE, took your SL, what should you do the next? Will Elon help?DOGE, took your SL, what should you do the next? Will Elon help?
Cryptocurrency Profit Taking Strategy Dogecoin Tron SiacoinHey Traders so last week I had noticed Dogecoin was overbought and due for a correction.
That has now happened will the bulls still be able to take this market higher?
Also as I learn more about this new cypto market I found 2 other currencies that look undervalued Tron and Siacoin. It looks like they are also in uptrend and possibly in a position to move higher.
I am curious what the crypto community thinks of these also. Let me know if you think they are good opportunities or not.
Enjoy
Trade Well,
Clifford
(All opinions expressed are for educational purposes and this is not a recommendation to buy or sell)
(Always use risk management before entering any trade)
(Past performance is not guaranteed for future results)
What is going on w/ INJ?Hi All,
I'm new here and just trying to get 5 reputation so I can talk in chat. Can you help me out with some interaction?
I thought this was interesting though, maybe a Coinbase listing incoming for INJ?
Autousdt short term buy setupIf makes a nice correction will retest the lows,
perfect for a nice buy to 4000 usd area.
XRP/USD - BUYPrice rejecting the lower trendline with a 2hr Bullish pin bar candle
Price is currently in a corrective pattern waiting for a breakout
XRP Target $3 USD Short TERM MAY ScenarioThere has been some choppy waters with XRP lately but again this is nothing new. Its imperative to not DOUBLE TOP at $1.95 USD, hence our RED RESISTANCE LINE. Once we can SPIKE thru the Resistance of $1.95USD then we should continue our grind up to $3USD with relative ease. Expect a PULL BACK around $3USD, take some PROFITS then rebuy for another bag of XRP as we approach ATHs of $3.85USD. Expect Fierce Resistance or a simple SPIKE THRU the ATHs. Again it looks like this grind towards ATHs will happen without US based exchanges which is a problem for the $5USD target although we believe in our Crypto Boyz in EUROPE , ASIA & Latin America. So Be ready when we conquer All TIME HIGH Prices!
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