ETH/BTC Spread: Long-Term Elliott Wave CountI think the giant triangle holds water because the correction we are seeing right now would be a summer lull before a bull run.... This view reinforces my opinion that 1,700 is a great entry point at a rate of 0.055 ETH per BTC. The next rally could see that ratio triple to 0.15 ETH per BTC, a serious decoupling.
ETH-BTC
Crypto Total Market Cap, June 29A double bottom is happening on Crypto Total Market Cap and target is around $1.7 Trillion as you can see.
It is on bullish trend and it has reacted to the support level , It is on 0.618 Fibonacci level too
Zoom out the chart, you can see the whole history.
Same thing is happening on BTCUSDT chart also which is normal and target for that is $40k , If this really happen then BTC will returns to the bullish channel and BTC rally is still going on (see my previous idea, I have linked it below).
Educational chronology Over the last couple of Months, I have published some educational content here @TradingView and wanted to correlate them into one post as they now cover several pages.
Starting with some of the fundamentals and into more of the advanced topics;
EACH IMAGE IS A LINK TO THE ACTUAL POSTS
Starting with Psychology - one of the most important things to pick up on early. There are some great books on trading psychology, one of the best in my personal experience is Trading In the Zone by Mark Douglas.
I expanded on this psychology one - by adding cartoons to break down the stages.
As for some good books see this post;
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When starting (many new traders are joining sites such as TradingView) for crypto. So when assessing companies/coins to invest in - it's good to have some depth on the company. Here's a guide on assessing alt coins;
Another relevant topic in crypto - as there will be dips! IS how to buy the dips.
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Chart basics
Trendlines;
Moving Averages;
Mixing timeframes on the chart;
A little more advanced
MACD;
Confusion in Indicators;
Gann Fans;
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Emotional analysis - Elliott & Wyckoff
Why I called this emotional analysis - is that the way Elliott & Wyckoff could read the situation above the chart price, the fact that human behavior drives markets. Composite man (Wyckoff story) controls the markets based on understanding how humans think. Means this is less technical and more emotional.
Elliott Basics;
Elliott Level 2;
Wyckoff;
Wyckoff chart basics;
Basics 2;
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Another topic worth mentioning is COT (Commitment of Traders) a report issued once a week on the large money moves, in simple terms.
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I know there is a lot here in one post - but I hope it helps going through the basics like this and you can save for reference. This was mainly due to all of these posts being over several pages in my profile. This way it's all accessible.
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
PERL / BTCBuying PERL here
Holding strong above horizontal support level.
Testing uptrend line support on 1D timeframe.
Targets mentioned in above chart.
Stop if 1D close below 175
If you liked my idea, follow me for more.
Blow off Tops for BTC, BNB, ETH and Total2Very curiously lots of people have been asking where the blow off tops have been for crypto because they are use to seeing blow off tops on crypto on weekly or monthly charts. As the market matures it begins to move a little slower and we can see that by looking at the newer coins, BND and ETH showing a blow off top on the 3 month but BTC showing the blow off top on the six month chart.
This also leads to a broader point of what charts scale to use. This rejection wicks or profit taking wicks are very clear on the standard scale. They don't look so bad on the log scale. Also, lots of people crow about doing long term analysis but it seems they don't want to consider how bearish these candles are.
Seriously, how can you be bullish on this?
ETHBTC - Bullish Idea (5-Day TF)ETHBTC Symmetrical Triangle that broke higher could be forming a continuation pattern (pennant/flag/wedge/ascending triangle).
The break out of the triangle got rejected at the 0.5 fib level, pulled over the 2017 bull market.
Since we broke out of the symmetrical triangle at the 0.236 level we can also expect a pullback and retest of that level before continuing higher.
Bitcoin Dominance chart also seems to be in a bear flag, which could be the inverse of the ETH/BTC bull flag.
The 0.786 and 0.236 fib levels have acted as rejection points during the bear market, interesting to note.
Happy (Independence weekend) - Early Logging off for the weekend! I wanted to say, have a great weekend!
One question for you - where do you think BTC will be at the close of Sunday (4th of July)???
Up or down? Sideways? What you got?
See our signature for more info & related ideas linked below;
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Ethereum Is Decoupling Bitcoin SignificantlyThe intraday spread between Ethereum and Bitcoin is widening at a faster pace than expected. Seems like the third wave is being extended, which is a very bullish sign. I would expect Ethereum to claw back more market cap dominance over the next couple weeks.
hypnotic Bitcoin - stair at image! Look at the image here with no text alongside it.
Only a bit of fun - but BTC can be hypnotic for many! See the 3D boxes when you stair and look through the screen for 10 seconds or more!
Just amazing to play around with @TradingView and I thought I would share with our community!
Hope your all having a great week!
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Ethereum/Bitcoin Spread Should Expand MoreFor those unfamiliar with this indicator, the ETH/BTC intraday spread is a great risk on / risk off barometer for the crypto markets. I was both right and wrong in my previous analysis. I was right that the last downward wave was shaped as an ending diagonal. However I was wrong, when I thought it would go lower when it was actually completed. I relabeled the count to match what we are seeing right now with the movement of both cryptocurrencies. As I am writing these lines, ETH is consolidating the large gains made over the previous days. In theory, there should be another upward movement so we get 5 waves up from the lows of this week-end. As a trader, this means you should focus on trading ETH because it has potential for more gains.
ETH Daily chart. GO LONGHey everyone!
the market has looked to have bottomed out. It also looks like we are in the last phase of the wyckoff pattern. On smaller time frames we have bullish divergence also. The last thing to look at was the falling wedge which now we are looking to break out of. The blacklines represent the trend and the neckline that we broke and now will become support.
Trade Idea
Enter 2000 - 2050
SL: 1700
TP: 3000
happy trading
TrendTracers Weekly Market Analysis #8TrendTracers Weekly Analysis
Review last week analysis
Price followed our last week prediction exactly, moving in the indicated range on the BTCUSDT chart. Liquidity was grabbed around 29-28k as anticipated.
BTC
Regarding BTCUSDT a close above 34k would indicate a bullish move up to 46k according to our system. We will wait for our system to generate a buy signal and take it up to that level.
Price on BTC.D is still within our depicted range. We are waiting for the price to confirm a higher low. Multiple closes of daily candles above 50% would be a good confirmation. This would mean that bitcoin will probably be the biggest player in the coming price action on the crypto market.
ETH
Not much has changed on ETHUSDT since last analysis, we are still waiting on that buy signal. If BTC has formed a bottom at this point, the price on ETHUSDT will probably go up aswell. But waiting for a signal is the best course of action at this point.
The consolidation pattern on ETHBTC did not play out and the price is still downtreding.
The chart is looking quite weak so the best play here is stay out for now.
DXY and USDT.D
Nothing has changed on the DXY chart, markets are still bearish outlook for the general markets.
USDT.D is moving as expected however it needs to form a top here as depicted in the chart. If USDT.D continues to gain dominance above the latest high, an extended bearish period is ahead.
Conclusion
Everything is going to plan, we are patiently waiting for that buy signal. We don’t want BTCUSDT to close below 30k anymore. Time will tell, best thing here is just to wait for confirmation from your system and act on it. We expect a signal to fire this week, so keep an eye out on our indicators.
ETH/BTC - ETH outperformance expectedTactical horizon (1 to 3 Month)
A larger ETH outperformance move is expected towards 0,085 before 0,134
Key daily technical element :
- Moving average are support at 0,40
- Elliot wave analysis confirmed an active follower momentum in progress with target at 0,0850 min
- RSI is above 50% with potential and no divergence
Conclusion
Buy any dip above 0,40 in order to play further upside move towards 0,0850 before 0,1340
Or lower the BTC exposition in the hearth of the portfolio and rise the exposure on ETH.
How to be careful from misleading Indicators | XRPUSD reversalAny feedback and suggestions would help in further improving the analysis! If you find the analysis useful, please like and share our ideas with the community. Keep supporting :)
Quick glance: In our previous analysis on XRPUSD , we discussed about Ripple losing a massive market cap. Right now, XRPUSD had a massive reversal. It has taken support from the lower Bollinger bands.
Market in the last 24hrs
The last 24 hours were quite a roller coaster. All major cryptos witnessed a huge selloff including ETH, BTC, DOT and others. Trading volumes also spiked up tremendously.
Today’s Trend analysis
XRPUSD seems to be having a massive reversal. At the end of the downtrend on the 4H chart, there appeared to be a 'Hammer' formation. However, the patter could not be confirmed as the 2 following candles were red, thereby negating the reversal after the 'Hammer'. Stop losses would have been triggered for traders taking long positions after the hammer. Therefore, it is always crucial to wait for the confirmation candle, even if it eats into some of the potential gains. It hedges against fake-outs!
The reversal happened after XRP took support from the lower band of the Bollinger Bands. The volume profile shows the demand zone at $0.8688, which is 40% higher than current levels.
Price volatility remained extremely high at approximately 24.53%, with the day's range between $0.5231 — $.6514.
Price at the time of publishing: $0.6315
XRP's market cap: $29.04 Billion
Out of 11 Oscillator indicators, 9 are neutral,1 is bearish, and 1 is bullish.
Out of 15 Moving average indicators, 11 are bearish , 3 are bullish and 1 is neutral .
Indicator summary is bearish for XRPUSD in the shorter timeframe.
Volumes have spiked up tremendously in the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Any feedback and suggestions would help in further improving the analysis! If you find the analysis useful, please like and share our ideas with the community. Keep supporting :)