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Dollero

21.4.2021 - Polkadot (DOT / USDT)Hi Traders! Polkadot is a very successful project, which is often talked about especially in recent months. In addition to a strong fundament and technology, this is also confirmed by the chart. If we look at the daily, we see that a few months ago we were at the level of USD 4. Just a few days ago, DOT reached its maximum of USD 46, which is more than a 10-time evaluation, and that's the problem. This evaluation was achieved by DOT without the chart stopping for some time or undergoing a more significant correction. We have been monitoring this just since February 20, when the chart more or less moves sideways in the channel. We haven't moved anywhere since then, and in my opinion it will be for some time to come. From the point of view of the whole structure, it would be ideal to test the level of USD 28 - 30, which represents the support. The trend line also crosses this level. We should not break it down, because if that happened, we could witness a deeper correction. It could be either very sharp and fast (in the bull market calmly -50% and subsequently fast growth), or it would be milder and would last significantly longer. The chart still needs to go sideways for some time and gain strength to be ready for further growth. However, Polkadot has interesting events planned for the summer, so currently we may only be watching the silence before the storm. The price of USD 28 - 30 can be a good level to buy and hodl. May the crypto be with you!
by DolleroTechnology
14.4.2021 - Bitcoin (BTC / USD)Hi Traders! Bitcoin is currently setting one ATH after another and the highest achieved is already at USD 64,200. How will its price develop further, and which zones are important for growth? At Bitcoin, I now follow two different scenarios. 1. Rising Wedge This is a bearish scenario that would not be very pleasant for many investors. On the other hand, it would not be surprising. Bitcoin from the level of 10,000 USD has not yet had a proper retracement and for 7 months we have been monitoring practically only growth. This has happened only 2 times in history and the current trend is record-breaking in several ways. That is why I would not be surprised at all if we witnessed a correction and a decrease of 30% - 40%. If the rising wedge prediction comes true, we should first reach the USD 73,000 level. At this level, we would touch the top of the trend line, which could be a temporary peak. 2. Ascending Triangle The second scenario is the ascending triangle, in which the top trend line is at the level of USD 61,221 . The bottom is the same for both patterns. In this case, we would take the current situation as a break from the triangle. The targe t would be set at the upper limit of the triangle, coincidentally again at USD 73,000. Conclusion The USD 73,000 threshold is clearly absolutely crucial. However, it will probably take some time to reach this level. From the point of view of growth, it will be very important that we do not fall over the bottom of the trend line, same for both scenarios. May the crypto be with you!
BITSTAMP:BTCUSDLong
by DolleroTechnology
7.4.2021 - Litecoin (LTC / USD)Hi Traders! For a long time, we did not look at one of the most famous cryptocurrencies - Litecoin. It has been moving in terms of the total capitalization in the TOP20 for several years. You can see LTC in cryptomats, on PayPal, and even Grayscale buys it. Nevertheless, it has not yet managed to reach his last ATH. Why? The latest ATH of Litecoin is at $ 374 and the current price is around $ 232. Thus, we still lack about 60% to ATH, which represents a significant potential for growth. Bitcoin and Ether already crossed their ATHs and also added extra percent. In the next phase, in my opinion, the LTC, around which there is currently a fairly strong fundament, could prove it. LTC has been one of the most successful projects for a long time and, in addition, it is bought (as I mentioned above) by various institutions, but this is not yet reflected in its price. In cryptocurrencies, we often observe almost identical cycles. Bitcoin usually grows first, followed by Ether, then large altcoins, and finally the capital moves to smaller alts. LTC is thus a cryptocurrency that is likely to show its potential. It is clear from the chart that LTC is currently undergoing strong consolidation before resistance. The longer we consolidate, the stronger growth Litecoin can show us when this resistance is exceeded. Subsequently, only the $ 272 mark awaits us, and then nothing will prevent LTC from further growth. May the crypto be with you!
BITSTAMP:LTCUSDLong
by DolleroTechnology
17.3.2021 - UMA (UMA / BTC)Hi Traders! Even smaller cryptocurrencies do not escape our attention, and today we will explain a specific pattern on one of them - "cup and handle", or a round bottom. What is a cup and handle? It is one of the basic and very popular patterns. You won't find it on the charts as often as, for example, a triangle, wedge or other well-known patterns. It is really quite rare, but it has a high success rate and RRR (Risk to Reward Ratio). We can already tell from its name that this is the bottom and it should be nicely rounded. You can also see the cup and handle on the UMA / BTC pair. Typical for this pattern is that it is very difficult to draw trendlines, as well as the fact that volumes are starting to increase at the bottom (in our case, they did not yet). It is these increasing volumes that the demand for a given cryptocurrency increases. After completing this pattern, the chart should look like a bowl - ideally as symmetrical as possible. UMA / BTC We see one very nice round bottom on this pair. I would expect growth in the coming weeks and months. In terms of numbers, it could be a growth of about + 150% . Sometimes the whole movement is done through one big pump and other times it goes into the shape of a symmetrical bowl. In any case, from the point of view of a possible evaluation, this is a cryptocurrency, to which you should pay increased attention in the near future. May the crypto be with you!
Long
by DolleroTechnology
10.3.2021 - Ethereum (ETH / USD)Hi Traders! Technical analysis is a game of probability and statistics. Situations in which there are several possibilities of future development are nothing special on the market, and this is exactly the case today. Even an experienced trader cannot clearly determine in which direction the asset will move. However, what he knows to do is to identify the options and then use the course to determine which of the scenarios is being met. So today we look at ETH. 1. BULLISH In this scenario, ETH will break the previous maximum in the coming days and simply go up. In that case, we could say in retrospect that we have reached the local bottom and continue to grow. Of course, this is the best option. Personally, I give it the slightest chance, but it is a relevant scenario and it is even quite common in the crypto bull market. 2. TRIANGLE A classic scenario in which we admit that we are in a triangle. It is still early for us to be able to clearly determine it. At this point, for example, we can be only completing potential wave B. If this scenario will be confirmed, we wouldn’t reach a new maximum and should fall to the level of USD 1,460 within a few days. Subsequently, we would go to the side for the rest of the month, and by the end, ETH could start to grow. 3. ABC CORRECTION In the case of correction, ETH would reach a new low in this structure. It could be around USD 1,000. This scenario is the most drastic, but on the other hand, the hodlers would have the opportunity to buy. CONCLUSION We have outlined 3 options that could currently be applied to almost the entire market. It is in a slight correction and we do not yet know exactly what this correction will look like and whether a correction is not ending. So we have to wait until the charts tell us a little more. May the crypto be with you!
BITSTAMP:ETHUSD
by DolleroTechnology
3
18.2.2021 - Ontology (ONT / USD)Hi Traders! Last week we looked at EOS, where we pointed out its great potential, and today we will do a similar analysis of Ontology cryptocurrency (ONT / USD). Let's not forget that bitcoin currently exceeds the $ 50,000 mark, which has a significant impact on the entire market. First of all, we would warn against high expectations. The fundament around this coin is not as strong as it used to be, as new projects and new technologies are still coming to the market. Nevertheless, we think that the ONT still has great potential, which we can turn into an evaluation in the coming months. The ATH of this coin is above $ 12, but if we count also with overall fundament, we would aim at a maximum of $ 5.51. In this chart, we can also see 3 basic cycles - growth, decline and consolidation. In this case, however, it's a little different than last week at EOS. Week ago, ONT broke the trendline and thus also the consolidation structure. Of course, this does not mean that we have to climb to the targets immediately. Growth should gradually accelerate upwards and we see this trade in a few months' horizon (up to the summer). From the point of view of targets, we would again step out of the trade gradually and "preserve" profits. The most important thing in this chart is the broken trend. We have a clearly defined trend and, if nothing fundamental changes, this chart should continue to grow. May the crypto be with you!
BITFINEX:EOSUSDLong
by DolleroTechnology
4.2.2021 - Bitcoin (BTC / USD)Hi Traders! After a longer time, we will look again at Bitcoin, where quite interesting things have been happening in recent days. It all started with Elon Musk (Tesla) writing the word Bitcoin in his description on Twitter. The market reacted immediately and the price of Bitcoin rose. However, Bitcoin was unable to sustain this growth and the price subsequently fell. It was quite surprising and it is a bearish signal. After a strong gap, which also had sufficient volumes, it was a big surprise that the price could not stay above the trendline. After this slump, it seemed that Bitcoin was not yet ready for growth and we can expect a further decline. However, we managed to cross the trendline again. It was not a particularly strong growth and the volumes were not large either. Unlike the first break, we were currently able to stay above the trendline. From the point of view of further growth, holding the trendline is absolutely key and crucial for further progress. We should test other resistances soon. May the crypto be with you!
BITSTAMP:BTCUSDLong
by DolleroTechnology
20.1.2021 - Bitcoin (BTC / USD)Hi Traders! In recent days and weeks, everyone has been most interested in the king of cryptocurrencies - Bitcoin. It recently set his new ATH at USD 42,000 . Since then, however, we have undergone a slight correction and in this situation, we have two options for further development. 1. Triangle The first possibility is that we are in a triangular formation, which we are slowly ending and we will soon grow. For this to really happen, we need to keep the bottom trend line on the chart and also break through the top trend line. 2. ABC correction In this case, it would not be a positive report and another wave of decline would follow. So we would fall across the bottom trend line and go test the support at the level of USD 28,200 - 29,200. Both options are still realistic and as we can see, the chart no longer has much space. This means that it will soon have to decide which side to we will look at. Which of the options will finally be realized does not change the fact that we are still in the bull run. Each correction, therefore, represents an opportunity for another cheaper purchase. May the crypto be with you!
BITSTAMP:BTCUSD
by DolleroTechnology
5
6.1.2021 - Ripple (XRP / USD)Hi Traders! Today we will look at the XRP / USD analysis and take a closer look at the Ripple case. XRP has flooded newsfeeds in recent days with reports of a lawsuit filed by the SEC (US Securities and Exchange Commission). The SEC filed a lawsuit against Ripple , which created cryptocurrency XRP. T he lawsuit alleges that Ripple was involved in the sale of the securities - meaning their XRP cryptocurrency. It should be added that this action has been pending for a longer time. At the moment, it is difficult to say how it will turn out. Ripple has capable lawyers and one of them is a former member of the SEC. Some exchanges have already suspended the trading of XRP or wanted to delist XRP . At the moment, therefore, we would avoid any investment in this cryptocurrency. But let's take a look at the XRP chart. From below, we have very strong support at the level of USD 0.1713, and from above, strong resistance at the level of USD 0.25. Although we do not know how the SEC lawsuit will turn out, the chart always reflects investors' expectations, so we can see the outcome of this lawsuit from the chart before it's in the news. If we break the support downwards, it looks very bad with XRP. Conversely, if we break through resistance, then XRP may be waiting for good times. However, while we are at the current level, we only monitor and do not buy XRP. May the crypto be with you!
BITSTAMP:XRPUSD
by DolleroTechnology
2
16.12.2020 - Basic Attention Token (BAT / BTC)Hi Traders! Every Wednesday we offer you an analysis of a specific cryptocurrency so that you know in which direction its price can move. Today, however, we will do it a little differently and show you a concrete trade that Jakub entered on the Binance exchange. It will be a cryptocurrency pair BAT / BTC. When entering the trade, we always pay attention to basic metrics. I like to trade breakouts, as in this situation, for example. BAT is in a falling wedge, which we classify as a reverse pattern. This means that it is the pattern that reverses the trend and the current one is downwards. Of course, these patterns do not always work 100%. I placed stop loss below the current "low" and thus below the value of 1,061 satoshi. Stop loss is specifically at 1,054 and thus at the level of - 6.23%. This is a potential loss that I am willing to risk. If our analysis is correct, we should not fall below this value. As for the targets, in this case, I chose two - I placed the first at the value of 1,239 satoshi, ie 10.24% profit, and the second at the level of 1,325 satoshi, ie 17.99% profit. Personally, I trade such cryptocurrencies in such a way that if the price reaches the level of the first target, I will shift the stop loss to the input value. As a result, we no longer risk anything in a given trade and can be relatively calm. Also, if we have two targets, then we must divide the order into two parts. For example, if we have 1,000 BAT, we will sell 500 on the first target and 500 on the second one. This analysis does not represent financial advice. However, we think that once in a while it is appropriate to show a specific set of the trade. May the crypto be with you!
Long
by DolleroTechnology
9.12.2020 - Bitcoin (BTC / USD)Hi Traders! After a long time, we will look at the analysis of Bitcoin. But first, let's describe the current situation. After the last growth, we are still quite high - around ATH. Overall, however, we have not been able to long-term break ATH or the magic USD 20,000 limit, and we do not think that will succeed in the near future. On the contrary. The graph shows two basic scenarios that we are currently monitoring: 1. TRIANGLE The first possibility is that we are forming a triangle. This formation would mean that the market would no longer fall and we would not get a chance to buy "cheaper". On the other hand, it would be a strong bullish signal that we will attack the maximum values again after the completion of the triangle. In the long run, it would also be very positive, because we would create a structure between the values of USD 17,000 and 20,000. In 2017, we were already at these values, but it was only for a few hours. Only now we are starting to create historical volumes there. It is these volumes that will help us in the future as a support. 2. ABC CORRECTION In the second case, we would fall to USD 16,115 - 16,470. This would be an ABC correction with a conservative target. We are not talking about other targets yet, as we have not yet concluded what the pattern will be. CONCLUSION We currently expect to drop to USD 16,800 in a few days, and it will be decided there whether we can maintain this trendline or not. May the crypto be with you!
BITSTAMP:BTCUSDShort
by DolleroTechnology
2
2.12.2020 - Tezos (XTZ / USD)Hi Traders! Today we look at one of the most popular cryptocurrencies and that is Tezos (XTZ). What does the chart look like? For the purposes of this analysis, we will use a daily chart as we want to see the overall trend. Tezos also went through a slump this year caused by COVID in March. Subsequently, it rocketed and fell again. Let's look at the overall structure. Tezos wrote off up to 78% of its growth, which is confirmed by the value of 0.786 fibonacci retracement. Tezos was quite good to us also in the falling wedge he formed. At this point, several interesting levels met: 1. Support on the daily chart 2. Fibonacci retracement 0.786 3. Turning pattern - falling wedge You can see the bottom of the chart, and a reflection has come from this level. The chart has currently stopped at MA21, but this should only be temporary. In time, we expect an attack on the new ATH and the upper edge of this great channel. In general, we see a value of about USD 5, which would represent more than 100% growth. However, it is important that we stay in this channel and not fall below the bottom trend line. So the tariff is USD 5.00. May the crypto be with you!
COINBASE:XTZUSDLong
by DolleroTechnology
25.11.2020 - Litecoin (LTC / USD)Hi Traders! Are altcoins in the bull market? Is Litecoin in the bull market? You have probably noticed a significant rise in the prices of cryptocurrencies in recent days. It's not just about Bitcoin anymore, but Litecoin, Ethereum, Dash, and others have gradually started to grow. Is this the right time to buy, or are we waiting for a decline? Let's have a look at it step by step. In our opinion, we are already in the bull market. Of course, each cryptocurrency is a little different, but in terms of structure, Litecoin is already in the bull run. In 2018, we witnessed extreme growth, followed by a strong decline, and we have been consolidating to this day. By crossing the trendline, LTC also started its bull run. However, this does not mean that it will only grow. Even in the bull run, it is quite common for the market to undergo a correction (even 30 - 40 %). The nearest strong resistance is at the level of USD 145. As we see that the breakthrough on Litecoine was really significant, a minor correction may come, but in the long run, it looks very good. May the crypto be with you!
BITSTAMP:LTCUSDLong
by DolleroTechnology
1
18.11.2020 - Bitcoin (BTC / USD)Hi Traders! Yesterday, Bitcoin broke the USD 18,000 mark , so let's look at this most famous cryptocurrency. We will use a weekly chart for the analysis. The closest resistance on Bitcoin is ATH. On our chart, it's the USD 19,255 - USD 19,711 limit. Bitcoin is currently in exponential and it is quite dangerous. In our opinion, it is just as dangerous to long and buy at this time, but also to short. Now, it is best to wait for what Bitcoin will show us. The risk of sudden movement on one side or the other is just too big. But let's look mainly at the last candles. As we are on the weekly chart, we are already seeing the 7th week of growth in a row. If we look at history, you probably won't find 8 weeks of consecutive growing candles. We will probably close the current week in green, but next week there is a high probability that at least some correction or movement to the side will come. From the value of USD 10,500, we are actually only going upwards, which is not the best in terms of the structure of the chart, as we have not created any supports on the way up. However, the real show can start after crossing the ATH limit. There, we assume, that real madness and growth can come. This year we have witnessed similar events several times - for example, the car manufacturer Tesla, gold, but also the S&P500 experienced it. Just after overcoming ATH, Bitcoin can start looking for a new price. May the crypto be with you!
BITSTAMP:BTCUSD
by DolleroTechnology
11.11.2020 - DeFi IndexHi Traders! Today, in the analysis, we will look at the DeFi sector, ie decentralized finances. If we want to characterize the year 2020 in terms of cryptocurrencies, it would probably be the year of COVID, halving, and the just mentioned DeFi. Decentralized finances turned out to be great this year, and it was these cryptocurrencies that were a sign of summer growth. This sector grew the most in the summer. But what do we see on the chart? Do we see any specific coins? You can currently see the DeFi index on the chart. This index includes essentially all cryptocurrencies that somehow fit into the DeFi sector. So instead of watching each chart separately, we can monitor the entire industry on one. As is clear from the chart, we experienced huge growth in the summer, which was later replaced by a decline. Within 65 days, the entire industry fell by 60%. However, in this chart, we can also see the change and impulse. The whole DeFi eventually returned exactly where it started. On the chart, we see strong support and a falling wedge pattern. Last week we broke this pattern upwards, which was also seen on specific altcoins. It was a very important first impulse to make a difference. Are we at the bottom? Is the correction complete? Is it worth jumping into DeFi again? We don't know if we have reached the final bottom at this point, but we have interrupted the 65-day downtrend anyway, so we can wait at least a few days and maybe weeks of growth. May the crypto be with you!
FTX:DEFIPERPLong
by DolleroTechnology
28.10.2020 - Bitcoin (BTC / USD)Hi Traders! Today we look at the analysis of Bitcoin, but a bit unconventionally - on the weekly chart. This is currently absolutely crucial. It is important to realize that it is the daily, weekly, and monthly charts that are watched by large institutions and banks. The movements on the hourly charts are not interesting to them and they look at the chart and its history as a whole. How do we see on the weekly chart? As we mentioned in previous analyzes, Bitcoin can theoretically be in a bull-run already. It really has all the prerequisites for that. After many months, it managed to break through the big triangle and is currently trying to create a new HIGH. The candle from last week closed at the highest value since January 2018. When analyzing candles, it is extremely important where we are closing the week. The candle wick shows us the highest and lowest value in a given week, but important is the close. If we could close on more than $ 13,870 this week, it would be an extremely bullish signal. Attacking the previous maximum would take on a completely different dimension. In addition, if we look at the monthly chart, the highest closed candle is also at this level (still from December 2017). Since this week is the last of the month and will therefore close also the whole month, if we got above the mentioned value, it would mean that the candle closed on ATH and the weekly candle on the new HIGH. And that would be extremely bullish! May the crypto be with you!
BITSTAMP:BTCUSD
by DolleroTechnology
21.10.2020 - Bitcoin dominance (BTC)Hi Traders! Why does Bitcoin grow and other altcoins not? Why don't small altcoins grow against Bitcoin despite the growth of Bitcoin? Find out more in today's analysis. Today we analyze the dominance of Bitcoin, which is absolutely key for traders. What is it actually telling us? Currently, Bitcoin dominance is at 61.71%, which means that up to 61.71% of all money in cryptocurrencies is in Bitcoin. The rest is allocated in other cryptocurrencies. It is, therefore, logical that if the dominance increases from the current 61% to 70%, for example, then the money is transferred from altcoins to Bitcoin (another option would be the influx of new money into alts, which is not currently happening). Conversely, if dominance declines, money is shifting more from Bitcoin to altcoins. Let's look at the chart. As we can see in the summer the dominance decreased. If we mention the summer months, this is exactly what caused the huge pumps and growth in the DeFi sector, for example. Likewise, as the market grew, so did altcoins. In recent weeks, the situation has been the opposite. Bitcoin increases and altcoins stagnate or decrease. However, technical analysis can also be applied to this chart, and this graph is the absolute key to trading altcoins. There is a need to "catch" cycles when dominance decreases, as this is the period when altcoins are stronger and grow. Currently, we have reached a very strong resistance, on which the trendline of the channel, MA21, and point resistance is at the level of 62.87%. RSI still holds the trendline. So we expect a minor rejection soon. After a few weeks of hard trading, better times could come. May the crypto be with you!
CRYPTOCAP:BTC.D
by DolleroTechnology
2
23.9.2020 - Bitcoin (BTC / USD)Hi Traders! In today's analysis, we will look at BTC / USD. We have seen a significant drop in recent days, so you will definitely be interested in looking at the overall situation. When we look at this chart and think about world markets, we think Bitcoin got into a bull-run. We are above the trendline, above MA21 and we have been creating higher lows for several months now. We must also not forget the halving and previous cycles. In terms of technical analysis and market cyclicality, we are therefore in a bull-run. Warning! However, this does not mean that the price cannot fall. COVID and the March slump in the markets caused Bitcoin to significantly copy the S&P500 index. Bitcoin and cryptocurrencies are therefore also clearly linked to movements in world markets. If we only look at the analysis and fundamentals of Bitcoin, we are clearly bullish. However, if we look at the markets globally - if the S&P500 falls, then it is highly likely that Bitcoin and the entire cryptocurrency market will also fall. You can see 2 strong supports marked on the chart: 1. Level at USD 8,098 - 8,810. 2. MA200 - on the weekly chart, it is the strongest MA, which caught us on the bottom on USD 3,000 and 4,000. It is currently worth approximately USD 6,600. May the crypto be with you!
BITSTAMP:BTCUSDLong
by DolleroTechnology
26.8.2020 - Polkadot (DOT / USD)Hi Traders! In today’s analysis, we will look at the new cryptocurrency that has managed to drive the whole crypto world crazy in recent days - Polkadot. The Polkadot, which has the acronym DOT in recent weeks, has caused a huge stir. This "rocket" quickly reached the TOP 10 cryptocurrencies by capitalization. It is currently priced at about $ 5.60 . It was similar to LINK, which was already depreciated at $ 5, but it eventually rose to a great $ 20. The first problem is the history of the chart, which is extremely short on the Binance exchange. Therefore, today we are using the 1H graph. The chart rises in a solid channel and you see the marked 2 basic supports. DOT has shown growth of almost 100% in the last 4 days and therefore a smaller correction could be expected. However, the basic rule is - if the DOT keeps the bottom trend line of the channel, it will grow. With similar shifts and bull trends, it is quite common for the chart to have almost no correction. Usually, it works so that the chart grows and then moves to the side. After a few days of moving to the side, it grows again. We are following the same pattern at DOT. Breaking this pattern would mean falling below the lower trend line and is therefore absolutely fundamental. As long as we hold it, the DOT will grow. May the crypto be with you!
Long
by DolleroTechnology
29.07.2020 - Bitcoin - CME futures Hi Traders! After many weeks of nothing happening, the ices finally broke last week and Bitcoin made a decision and went up. We are currently balancing at $ 11,000. Today, however, I wouldn't like to do a traditional analysis of Bitcoin, but I would like to point out one fundamental thing that isn't much discussed. CME futures is a US stock exchange where Bitcoin is traded. As this is a classic stock exchange, it is common for its gates to be closed over the weekend. However, as you know, cryptocurrencies are also traded over the weekend. If Bitcoin price on the crypto exchanges moves more significantly over the weekend, the CME futures exchange with a "gap" will open on Monday morning. The GAP gives us a price "gap". Why is this important? GAP on CME futures mostly acts like a magnet and in the end it can attract the price. This usually happens in two cases: 1. The GAP shall be completed on the given week of its opening. That would mean we're going under $ 10,000 again this week. 2. The GAP is filled in only after the completion of a certain cycle on Bitcoin. It can be a week, but even a month. CME futures GAPs act as a magnet for the price and in the vast majority they get used to pulling it back. Will it be the same now? May the crypto be with you!
CME:BTC1!
by DolleroTechnology
1
9.4.2020 Litecoin (LTC / USD)Hi Traders! Today, after a long time, we will look again at Litecoin. If Bitcoin is referred to as digital gold, Litecoin is nicknamed digital silver. He's the smallest brother of Bitcoin and we'll go over his technical analysis today. Litecoin has a similar graph to the other altcoins and bitcoin itself. As you can see on the 4H chart, its structure is very complex. Let's break it down into smaller pieces and say what we see on the chart. First of all, we see the big white channel. So the chart is still moving in the channel and couldn't break down or up. Movement in the channels indicates that it is more of a corrective nature. Second, we see the ABC correction , which we could draw into three waves and then the triangle (the triangle is typical for wave B and the closing wave C). We are approaching strong resistance and therefore we should be careful. We consider USD 46.85 - 48.76 to be strong resistance. At this level, there is 0.382 Fibonacci level of the whole decline, one to one extension and point resistance. Thus, three key levels overlap in this zone, which can prevent further growth. May the crypto be with you!
BITFINEX:LTCUSDShort
by DolleroTechnology
18.3.2020 - Bitcoin (BTC / USD)Hi Traders! The history of cryptocurrencies will certainly remember the last week as a tragic one and therefore we will discuss bitcoin again today. In the last analysis, we also marked the lower trend line on the chart. Probably, no one expected it to be tested just a couple of days later. At the moment, we are probably on the strongest trend line and on key levels. There are 3 strong supports awaiting: 1. Last LOW - $ 3,234 2. 2017 Swing - $ 2,976 3. Swing LOW from 2017 - $ 1,801 Where's the bottom? This is probably the basic question often followed by another question - when is the best time to buy? However, no one knows the answer to these two questions. Bitcoin and cryptocurrencies are experiencing economic collapse for the first time in their history. Although Bitcoin came into existence in 2008 (during the last financial crisis), it was of no value at that time and trading volumes were practically close to nothing. The crypto fundament is now secondary, as well as halving. On the Internet, there is a growing belief that the price cannot fall further due to the mining process. The truth is, in the short-term the price may still decrease. What's next? At the moment it's best to simply wait and possibly buy for a long-term hold. Problems in the world won't be solved quickly. The most important thing, for now, is to keep the trend line. If we break it downwards, we would follow the listed supports, where we would set up purchase orders. May the crypto be with you!
BITFINEX:BTCUSD
by DolleroTechnology
2
11.3.2020 - Bitcoin (BTC / USD)Hi Traders! Today we're looking again at bitcoin, but this time with the long-term lenses. Currently, halving comes out on May 11, 2020, and many people have speculated based on the past that if history repeats, we should grow before halving. Subsequently, in the halving period, we would slightly decline (even consolidate) and grow again. The bitter surprise is that halving is around the corner and bitcoin is falling. So we offer 3 basic scenarios. 1. Bullish scenario Right now we are near the bottom and the lower trend line will support us. A bounce will come from there, and we'll climb towards the top of the trend line, we can get through it and get into the bullish zone. There is also strong resistance around the trend line. 2. Bearish scenario In this case, the lower trendline won't support us and we'll break it down. This would be an extreme bearish situation, we cannot fully imagine what would follow then. But we have to take it into consideration. 3. Complete triangle fill-up Two basic trend lines make up a triangle together and it's possible that we could bounce off the bottom and go up to the top line, where rejection would come across and we would go back to the bottom and the final decision would take place there. However, this move could take up to 3-4 months and would be very challenging for trading. Which scenario do you find the most likely? To us, the last one, because both bullish and bearish scenario represents huge extremes even for cryptocurrencies. May the crypto be with you!
BITFINEX:BTCUSD
by DolleroTechnology