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Brief Analysis——AAVEBTC fell yesterday and returned to the price before the pump. Affected by SEC, many tokens have experienced decline. The energy of Grayscale's victory was exhausted. Today's brief analysis will continue to review tokens that have been analyzed in the past. We chose NEAR and AAVE today. As we expected, AAVE fell further after our last brief analysis. During the rebound in early August, the performance of the bulls was weak, and the price quickly came to the lows in June. After the last round of decline, the bulls still have not strengthened, and the trading volume is almost half that of the previous two weeks. The nearly half-month rebound only covered the long red candle of Aug.17. The same as NEAR, when the entire market begins to rise, it is difficult for AAVE's bulls to strengthen (the slope of the green arrow is flat), but when the entire market begins to decline, the bears of NEAR was stronger than most tokens. On Wednesday, the bears' attack started again, and the price quickly approached 55, which is a support level. Conclusion: The high probability decline has not ended. Although AAVE remains neutral on a large scale, you can clearly see the gap between bears and bulls from the chart. The bulls may strengthen after price approaches 55, but a reversal is unlikely. We set new resistance level at 60 and support level at 50. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Short
by Sypool
3
Brief Analysis——NEARBTC fell yesterday and returned to the price before the pump. Affected by SEC, many tokens have experienced decline. The energy of Grayscale's victory was exhausted. Today's brief analysis will continue to review tokens that have been analyzed in the past. We chose NEAR and AAVE today. We conducted a brief analysis of NEAR in mid-July. At that time, we believed that NEAR would touch the given resistance level again. The next day, NEAR did so. The bears then strengthened. NEAR remains bearish on a large scale. The dump in early-August pushed NEAR to the new lows. Although the trading volume during the decline was not large, the subsequent rebound was weak, and the long-term rebound did not even cover the last long red candle on Aug.17. This Tuesday, BTC led most Tokens to rise, but the increase of NEAR was small. Yesterday, the red candle not only covered Tuesday's green candle, but even produced losses. Bears strengthened again after a weak rebound. Conclusion: The high probability decline has not ended. NEAR maintains bearishness on a large scale, and the bears may have launched a new round of attack. So we come to this conclusion. We set new resistance level at 1.30 and support level at 1.02. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Short
by Sypool
Brief Analysis——1INCHAlthough BTC led most tokens to usher in a pump, the next day red candle covered the gains of most tokens. Today's brief analysis will continue the review of previously analyzed tokens. What we chose today is UNI and 1inch. After the last brief analysis, a V-reversal occurred, and the bears quickly covered the gains of the bulls. This is exactly what we predicted (red arrow). And after nearly half a month of fluctuations, 1INCH began a new round of decline. Bears decayed after the red candle broke the previous low and forms a long pin-bar downward. The bulls did not strengthen, and the price almost spent nearly half a month in a range. We can see that even though the entire market had a pump two days ago, the bulls of 1INCH was not strong. The length and volume of the green candle illustrate this. Conclusion: Mostly fluctuation. 1inch remains bearish on a large scale. Yesterday's red candle did not cover the previous day's gains. Both bulls and bears are weak. So we come to this conclusion. We set the new resistance level at 0.3 and the support level at 0.2. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
by Sypool
Brief Analysis——UNIAlthough BTC led most tokens to usher in a pump, the next day red candle covered the gains of most tokens. Today's brief analysis will continue the review of previously analyzed tokens. What we chose today is UNI and 1inch. We conducted a brief analysis of UNI in mid-July. It is believed that the high probability of the rise has not ended. As we thought, the price rose and broke the given resistance level. And after the bears strengthened, it returned below the given resistance level. The long red candle on Aug. 2 means that the bears was starting to attack. After that, UNI fell, broke through the given support level downwards, and came to near the lower rail of the gray range. This week, the bulls started to strengthen and the price rebounded. However, whether it is from the trading volume or the length of the green candle, it can be seen that the power of the bulls is still very weak. It is just a normal rebound after the bears decay. On Tuesday, UNI formed a long green candle due to market-driven effects. One day later, long red candle covered the gains brought by the pump. Conclusion: The high probability decline has not ended. UNI remains neutral on a large scale. The bears are stronger than the bulls, who barely gain strength after the price approaches the green dotted line. So we come to this conclusion. We set new resistance level at 5 and support level at 4. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Short
by Sypool
Brief Analysis——ONEYesterday, due to the victory of Grayscale, BTC leads the entire market up. Many tokens are seeing gains of 5%+. Although winning the case does not mean that the BTC spot ETF will be approved soon, but the review efficiency will be improved. Today, we will conduct a brief analysis of ATOM and ONE. They were analyzed before. Let's take a look at their current situation. In the previous brief analysis, we believed that ONE would continue to fall until it approached the given support level (green dotted line). In fact, this is the case, but after falling with fluctuation, the price rebounded back above the given support level. Judging from the chart, the main decline started on Aug.15. After 3 consecutive days of red candles, the price is approaching 0.0095, which is the one-year-low and the starting point of the rise at the beginning of the year. We can see that during the rebound, after the price initially callback to hit the low again, a long green candle appeared, and then the bearish power weakened. It is harder for the price to move back to 0.0095 again. And yesterday, driven by BTC, the price started a new round of rise. Conclusion: There is a high probability that the rise is not over. While ONE remains bearish on the large scale, bears show no signs of strengthening on the small scale. The long green candle with high trading volume sets the base. We set the resistance level at 0.0120 and the support level at 0.0095. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Long
by Sypool
1
Brief Analysis——ATOMYesterday, due to the victory of Grayscale, BTC leads the entire market up. Many tokens are seeing gains of 5%+. Although winning the case does not mean that the BTC spot ETF will be approved soon, but the review efficiency will be improved. Today, we will conduct a brief analysis of ATOM and ONE. They were analyzed before. Let's take a look at their current situation. As we expected, ATOM fall with fluctuation after the last brief analysis and quickly approached the given support level. Although the bears has weakened since then, the bulls have shown no signs of strengthening, and the price has maintained a 10-day fluctuation. On Aug.15, the price broke through the given support level (green dotted line). ATOM remains bearish on a large scale and has started a new round of decline. The next strong support level is around 6. But we can see that during this round of decline, the power of the bears has gradually weakened. The slope of the red arrow has changed from steep to flat, while the green arrow has maintained almost the same slope. This shows that the bears has weakened and the bulls has increased. Conclusion: Mostly fluctuation. The bullish power is gradually increasing, so we believe that ATOM may get into a range. We set resistance level at 7.90 and support level at 7.03, which is near last week's lows. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
by Sypool
Aug.22-Aug.28SOL(1d)Weekly market recapPowell spoke at the Jackson Hole conference last week. There were no extra hawkish or dovish surprises in the content. He repeated the Fed's determination to reduce inflation and that monetary policy will depend on economic data. During the course of the presentation, financial assets fluctuated, but did not trend. On this Friday, the US will release employment data for August, and if the actual value do not deviate significantly from the expected value, there will be little affect on financial assets. Although the DXY has hit other financial assets in the past few weeks, it is certain that the Fed's interest rate hike is gradually coming to an end. Be patient and have a good attitude. After our recap was published last week, SOL continued to fell with fluctuation, and the price was close to 20. During this process, the trading volume is invalidated. While the pace of decline has slowed, the bulls have not strengthened. You can find that there were not many green candles last week, the subsequent candles were shorter, and the high point of the rebound gradually decreased. This is a manifestation of the lack of strength of the bulls. Conclusion: Mostly falling. SOL remains neutral on a large scale. But bears are weaker than bulls. So we come to this conclusion. We maintain the previous resistance level at 26 and support level at 19. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:SOLUSDShort
by Sypool
Aug.22-Aug.28ETH(1d)Weekly market recapPowell spoke at the Jackson Hole conference last week. There were no extra hawkish or dovish surprises in the content. He repeated the Fed's determination to reduce inflation and that monetary policy will depend on economic data. During the course of the presentation, financial assets fluctuated, but did not trend. On this Friday, the US will release employment data for August, and if the actual value do not deviate significantly from the expected value, there will be little affect on financial assets. Although the DXY has hit other financial assets in the past few weeks, it is certain that the Fed's interest rate hike is gradually coming to an end. Be patient and have a good attitude. ETH and BTC are in almost the same situation. After the dump, the volatility decreases. ETH remained in a new range. Different from BTC, the bulls of ETH seem to be weaker, and the price movement is more like a small drop with fluctuation. Bears decayed in the process, but bulls did not strengthen. Despite a longer pin-bar last week, ETH did not effectively breakthrough the Jun.15 low. Conclusion: Mostly fluctuation. We draw this conclusion based on the fact that both bulls and bears are currently weak. ETH remains neutral on a large scale. We maintain the previous resistance level at 1820 and support level at 1500. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSD
by Sypool
Aug.22-Aug.28BTC(1d)Weekly market recapPowell spoke at the Jackson Hole conference last week. There were no extra hawkish or dovish surprises in the content. He repeated the Fed's determination to reduce inflation and that monetary policy will depend on economic data. During the course of the presentation, financial assets fluctuated, but did not trend. On this Friday, the US will release employment data for August, and if the actual value do not deviate significantly from the expected value, there will be little affect on financial assets. Although the DXY has hit other financial assets in the past few weeks, it is certain that the Fed's interest rate hike is gradually coming to an end. Be patient and have a good attitude. After the dump, BTC once again entered a new epoch of low volatility, and the price remained fluctuating within a new narrow range. At the beginning of the range, candles have long pin-bars, but gradually, subsequent candles have short pin-bars. The bulls and bears have formed a tacit agreement. The trading volume in last week maintained the previous average. Conclusion: Mostly fluctuation. BTC remains neutral on a large scale. The power of bulls and bears has weakened, so we think BTC will keep fluctuating again. We maintain the previous resistance level at 28000 and support level at 25000. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSD
by Sypool
Brief Analysis——ARBARB has fallen near the lows of June recently. Offchain Lab once again repurchased ARB worth $1.7 million, but it did not boost the market's confidence on ARB. Also as the leading L2, OP has become a super chain with its OP stack, and its performance within the month surpassed most tokens. The attention paid on ARB gradually decreased. When it was first listed, ARB ushered in a round of rise, but the selling pressure of the airdrop quickly pulled the price down. Since May, ARB has remained fluctuating in the yellow range. The upper rail of the range is the support level of the accumulation area in April. Although the price briefly broke through the upper rail, it quickly returned to it. The ARB started moving down in mid-July, with little bull reinforcement seen in the process. The bears intensified again on August 16, and the price quickly came near the lows. In the last week, although there were some green candles, the length of the green candle was very and was covered by the red candle. After that, ARB began to fall with fluctuation. The bears are always in control. Conclusion: Mostly falling. ARB remains neutral on a large scale. The bulls are not strengthening near the lows. So we come to this conclusion. We set resistance level at 1.0655 and support level at 0.9075. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Short
by Sypool
Brief Analysis——FLOKIPreviously, we conducted a brief analysis of PEPE and FLOKI, suggesting a high probability of fluctuations. Today, PEPE has become the focus of the market once again and is approaching ATL. We remake the analysis of PEP and FLOKI, hoping to provide you some inspiration. Today, the PEPE team and early buyers have transferred a significant amount of PEPE to exchanges. These actions have caused the price to approach its half-year-lows. As a legendary meme token, its founder has not followed the announced route map to develop the PEPE community and increase its utility. This has disappointed many meme holders, leading to a decline on the majority of meme tokens today. Similarly, for the new meme token FLOKI, the situation is even more challenging. After our previous brief analysis, the trend for FLOKI has been a pattern of decline, fluctuating, and then another decline. Last week, three consecutive long red candles broke through the year-lows. During the subsequent rebound, there was hardly any sign of bullish power. Conclusion: Mostly falling. After a few days of fluctuation, we can observe an increase in bearish strength. FLOKI maintains bearish on a large scale. This leads us to the conclusion that the downward movement is still ongoing. We set the resistance level at 0.0000205 and the support level at 0.0000160. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Short
by Sypool
Brief Analysis——PEPEPreviously, we conducted a brief analysis of PEPE and FLOKI, suggesting a high probability of fluctuations. Today, PEPE has become the focus of the market once again and is approaching ATL. We remake the analysis of PEP and FLOKI, hoping to provide you some inspiration. Today, the PEPE team and early buyers have transferred a significant amount of PEPE to exchanges. These actions have caused the price to approach its half-year-lows. As a legendary meme token, its founder has not followed the announced route map to develop the PEPE community and increase its utility. This has disappointed many meme holders, leading to a decline on the majority of meme tokens today. After our last brief analysis, the bulls for PEPE strengthened, rebounding for a while. However, the bears has not weakened and it pushed the price back to the starting point of the rebound. After that, the bulls did not strengthen and the price remained within a narrow range. You can see this from the downward slope of the green arrow. On Thursday, the bulls came back from a break, as prices broke out of the lower rail of the range and broke the half-year-lows. Conclusion: The high probability decline has not ended. Like we said above, the bears was stronger than the bulls. We draw this conclusion as PEPE is near the lows and bulls are likely to strengthen. We set the resistance level at 0.00000113 and maintain the original support level at 0.00000085. This support level is not strong. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Short
by Sypool
Brief Analysis——STMXToday we selected two tokens from the tokens listed on Binance for brief analysis. They are TOMO and STMX. Like most tokens, STMX has fallen for nearly a year, and maintained a low volatility. On Jul.21, the volatility increased and the price started to pomp with high trading volume, breaking the red dotted line. STMX converts to neutral on a large scale. But after a brief rise, bears strengthened, the price starts to fluctuate and move in the black angle, and finally breaks down the low rail. At that time, STMX turned bearish again on a large scale. In the last week, the price drop almost covered the previous rise. The bulls did not strengthen after the bears decayed. The volatility has decreased to the previous level again. Conclusion: Mostly falling. The rapid decline covered previous gains, as if the pump never happened. Bears is stronger than bulls. We think the price will fall after the bears come back. We set resistance level at 0.005700 and support level at 0.004180. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Short
by Sypool
1
Brief Analysis——TOMOToday we selected two tokens from the tokens listed on Binance for brief analysis. They are TOMO and STMX. In the first half of 2023, TOMO rose with fluctuation, and the low point of each callback was higher than the previous one. There was an upward pin-bar on May.28. After that, the price went into a long period of fluctuation. In the last week the price was near the high again, but consecutive red candles appeared, and the price fell back near the lower rail of the yellow range. The slope of the decline is gradually increasing, and there is no bullish power in the process. Conclusion: The high probability decline has not ended. TOMO maintains bullish on a large scale, but the bears is stronger than the bulls recently. The decline is likely to continue. However, the current price is close to the lower rail of the yellow range where the bulls will increase. So this conclusion is drawn. We set the resistance level at 1.65, the upper rail of the yellow zone, and set the support level at 0.97. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
TShort
by Sypool
1
Brief Analysis ——INJToday we have selected two tokens with high trading volume from the tokens listed on Binance for a brief analysis. They are EOS and INJ. The performance of INJ in 2023 is impressive. It rose with fluctuation, almost staying above the green dotted line. The current price is gradually approaching the green dotted line. When most tokens fell last Thursday, the bulls of INJ strengthened, and the long green candle almost covered the previous decline. Although the price fell for several days afterwards, it did not cover the gains of the long green candle. Conclusion: Mostly fluctuation. INJ remains bullish on a large scale. There is not much difference between bulls and bears on a small scale. So we come to this conclusion. The green dotted line would provide bullish strength. We set resistance level at 8.2 and support level at 7.0. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
by Sypool
Brief Analysis ——EOSToday we have selected two tokens with high trading volume from the tokens listed on Binance for a brief analysis. They are EOS and INJ. Like we mentioned in our weekly recap, after the dump in last week, many ALT tokens fell back to the year-lows. EOS even created a new lows. After consecutive red candles, volatility drops again. The price maintained in a narrow range for 5 days. Although the bears have weakened, the confidence of the bulls has been hit and there is no direct increase. Conclusion: The high probability decline has not ended. Although both bulls and bears is weak at present, EOS maintains bearish on a large scale, so we draw this conclusion. We set resistance level at 0.622 and support level at 0.517. This support level is fragile and it is likely to be broken. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Short
by Sypool
Aug.15-Aug.21SOL(1d)Weekly market recapThe strong performance of DXY has had an impact on many financial assets. US stocks, gold, foreign exchange and crypto have entered a callback. Powell will deliver a speech at the Jackson Hole conference this Friday, and the content of the speech will determine whether the strong DXY will be terminated. In addition, the long-term fluctuation caused most tokens to dump last week. BTC and ETH almost covered the rise brought about by the BTC spot ETF. Many Alts came to the year-lows. Market confidence took a hit. SOL has not continued to rise as we thought it would. The bears strengthened significantly, covering the gains of previous week directly and breaking through the given support level. After that, the price has remained fluctuating to now. During the dump, the trading volume of SOL was not as obvious as that of BTC and ETH. Conclusion: There is a high probability that the fall has not ended. SOL remains neutral on a large scale. Bulls was not strengthening amid bears decayed. So we think the price will continue to fall after the bears take a break and come back. We maintain last week's resistance level at 26 and lower the support level to 19. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:SOLUSDShort
by Sypool
Aug.15-Aug.21ETH(1d)Weekly market recapThe strong performance of DXY has had an impact on many financial assets. US stocks, gold, foreign exchange and crypto have entered a callback. Powell will deliver a speech at the Jackson Hole conference this Friday, and the content of the speech will determine whether the strong DXY will be terminated. In addition, the long-term fluctuation caused most tokens to dump last week. BTC and ETH almost covered the rise brought about by the BTC spot ETF. Many Alts came to the year-lows. Market confidence took a hit. ETH had a significant dump with increased trading volume last Thursday, the price broke through our given support level, and approached the low of Jun.15, 1650. Volatility fell again after a brief spike, and price have remained fluctuating from Friday. ETH remains neutral on a large scale, but if the price breaks the 1650, then it will turn bearish. Conclusion: There is a high probability that the fall has not ended. Although the strength of the bears has decayed after the dump, bulls isn’t strengthening. We lower the resistance level to 1820 and the support level to 1500. The bulls may strengthen around 1650, but we think 1500 is more appropriate as a weekly support level. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSDShort
by Sypool
ES Trend Analysis UpdateIt is clear on one thing. ES is basing for either a large move up, or down. Which direction? Who knows. We just have to react when it does. You can see ES is still within this purple main channel but riding the orange trend down. We have already broken out of the main uptrend (white), which usually indicates price would like to retest the highs or make a new high. If ES retests the main purple channel's support around the time it touches the orange downtrend's support at ~4126, ES could see another dip buy with strong momentum. Strong momentum buys or sells usually can be seen when two trend correlate with each other. On the other hand, if we fail 4126, we can probably see 4100-4080.
CME_MINI:ES1!
by AmpedTrading
Bitcoin outlook in the year 2023 (Weekly)The past few weeks have confirmed the channel trend Bitcoin is trading in. It is clearly outlined on the chart (grey channel). We may get a bounce inside the channel where the area of support (whether weak or strong) is clearly marked as the grey bar. The lack of any bounce here would be a bad sign in the shorterm (weeks-months) for Bitcoin & presumably we could expect it to test the bottom of the trading channel. Do you think BTC will enter the strong bounce area as identified on my chart? ------------ The previous, bullish, run to start 2023 was healthy. It appeared that there was lots of buying at the increased price levels (yellow-orange circle). Allow me to speculate... BTC surging 40% caused many owners to take profits or cut losses. Was this the goal? That is, was there an attempt to take people out of the market? Perhaps I have much cash to work with and expect BTC to go to/near/past previous highs at some point. It would thus be beneficial buy BTC at any level below the expected goal. The 40% surge got people selling, but some were buying & confidently it seemed. ------------ This will be very interesting to see playout. I do believe I covered all the possibilities, so use this chart as a reference, but not financial advice. The only scenario not directly portrayed on the chart is a break (to the upside) out of the channel in the next 3-4 weeks--- Right where the green arrow touches the channel top. If this turned out to be the case we could expect the top of the channel to become the new support line with the white line around 26,000 USD being the new resistance. There is no such thing as precise resistances such as 26,580 USD for example, so when I say around 26,000 USD, I mean around. Got it? ----------- My final thoughts... I was skeptical of the run in January 2023 being genuine as BTC had only gone as low as 15-16,000 USD. Before every major bull run for Bitcoin we have seen it revisit lower levels. This may be where the big money comes in ($10,000-$12,000 in this cycle is possible). Plus, there is still plenty of drama to come as far as crypto regulations, supposed Binance scrutiny, and the FTX debacle. ---------- Disclaimer (not financial advice): I lean towards the side of BTC revisiting its highs (or passing) at least once more in its lifetime. It's dramatic-> , it's hopeless->, it's bought quietly by big money ->, it's hyped, -> it's new highs. Most times the little guys get screwed so be careful.
COINBASE:BTCUSD
by LtCmdrData
3
Defichain - NO MANS LANDDefichain had lost a lot since its peak at 12000 satoshis. Declining prices in cryptos and markets in genereal in combination with the uncertainty with DUSD (Defichain stablecoin) has led to the situation that this project is currently not worthwile for investing. - on the short time On long time this project has still its entitlement for big gains. Strong development, more and more listing on central exchanges and a community, who wants to solve this blockchains problems makes it worthwile to keep an eye on DefiChain. Lets get technical: Currently the price found its first bottom at 80 dollar cents and consolidates between the 0.782 and 0.88 fib-retracement. There are no impulsive structures, which indicates rising prices. Over the last weeks it formed a bear-flag, which broke on the downside (valid retest the channel). As long as DUSD doesnt get fixed properly, I believe that the price will consolidate in the WHITE BOX (0.8 -1.2$). This shows the yellow path. A more optimistic path would be the green one, if it breaks the strong resistance at 1.2$ At the moment, price is at support level at 0.9$ (four times validation). If it breaks, there will be a retest at 0.8$ or even worse the 0.88 fib-retracement at 0.62$ (could also be final elliot-wave 5). All in all, these consolidation patterns had an average duration from about 500+ bars on 4h timeframe. The blue vertical line shows its potential end. I am still bullish after we finished consolidation and fixed DUSD problem. Good evening!
by Guenter_Seidner