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Time to remain watchful now| Expect a sideways momentumIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis! Quick glance: Bitcoin recovered a bit after the terrible slump yesterday. Despite this minor recovery, BTC’s troubles are not yet over. The market dominance took a dip, and is currently at a trendline resistance. The rest of the month looks poised to be a difficult one for BTC traders and investors. What we observed yesterday was not a black-swan event. The crypto market is known for such moves and therefore, we always suggest our followers to keep a strict and a trailing stop-loss in place. Market in the last 24hrs In a massive liquidation event that happened over the past 24 hours, approximately 330,000 traders were liquidated as their accounts ran out of margin. Bitcoin witnessed a major slump after it fell from near $53,000 levels to approximately $43,000. Today’s Trend analysis BTC’s market dominance stood at approximately 42.3%. If we take a look at the BTC.D chart, we see that it faces a trendline resistance, and has been on a downtrend for some time. Moreover, the absence of any significant external factors presents a dull picture for BTC for the current month. On a medium time frame, there seems to be a demand zone at $46,250. The large wicks at the bottom of the 2 consecutive daily candles indicate that there is a demand zone near that level. However, it is important to wait for a confirmation before taking a trade right now. If the $46,250 level breaks, BTC could likely head to $42,000 in the short term. Similarly, if we see volume and BTC taking support at this level and going higher, we might see it heading for the $50,000 level again. It’s best to avoid leverage in such crappy markets and always use a stop-loss. Traders who enter into trades considering a good risk : reward setup, end up being profitable in the long run. Price volatility remained high at approximately 6.63%, with the day's range between $44,436.93 — $47,386.72. Price at the time of publishing: $46,466.80 BTC's market cap: $877.96 Billion Out of 11 Oscillator indicators, 8 are neutral, 2 are bearish and 1 is bullish. Out of 15 Moving average indicators, 1 is 'NEUTRAL', 8 are bearish and 6 are bullish. Indicator summary is giving a ‘ SELL ’ signal on BTCUSD . Volumes have remained high in the past 24 hours. ---------------------------------------------------------------------------------------- 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 24-hour candles. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume . ---------------------------------------------------------------------------------------- Do give a follow if you liked the content. Keep supporting:) -Mudrex
by Mudrex
5
XRPUSD(4Hr) : XRP moving in a strong bullish momentumMarket in the last 24hrs The price has been moving in bullish momentum and moved above the upper Bollinger band. Trading volume has been very high in the last 24 hours. Today’s Trend analysis The price is expected to continue to move in bullish momentum till the price accepts the upper Bollinger band as a resistance line after which we can expect a consolidated movement with a slight indication of bullish momentum. Price volatility was moderate at approximately 4.76%, with the day's range between $1.23 — $1.32. Price at the time of publishing: $1.3 XRP’s market cap: $60.68 Billion However, the Indicator summary is giving a 'STRONG BUY' signal on XRPUSD. Out of 11 Oscillator indicators, 0 are giving a SELL signal, 9 are neutral and 2 are giving a BUY signal. Out of 15 Moving average indicators, 0 are giving SELL signal, 1 is giving neutral and 14 are giving a BUY signal. Trading volume has been high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true. ---------------------------------------------------------------------------------------- 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. ---------------------------------------------------------------------------------------- Any feedback and suggestions would help in further improving the analysis!
BINANCE:XRPUSDLong
by Mudrex
4
XRPUSD(4Hr) : XRP moving in a strong bullish momentumMarket in the last 24hrs XRPUSD moved in an upward momentum along with the upper Bollinger band. Trading volume has been very high in the last 24 hours. Today’s Trend analysis The price is expected to move in an upward momentum till the price moves above the upper Bollinger band after which a consolidated momentum is expected. Price volatility was moderate at approximately 4.76%, with the day's range between $1.23 — $1.32. Price at the time of publishing: $1.3 XRP’s market cap: $60.68 Billion However, the Indicator summary is giving a 'BUY' signal on XRPUSD. Out of 11 Oscillator indicators, 3 are giving a SELL signal, 7 are neutral and 1 is giving a BUY signal. Out of 15 Moving average indicators, 0 are giving SELL signal, 1 is giving neutral and 14 are giving a BUY signal. Trading volume has been high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true. ---------------------------------------------------------------------------------------- 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. ---------------------------------------------------------------------------------------- Any feedback and suggestions would help in further improving the analysis!
BINANCE:XRPUSDLong
by Mudrex
1
Trading psychology & becoming a profitable trader over timeIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis! Is it true that in the markets, over 90% of traders lose money? Likely! In that case, only a small percentage of traders remain profitable over a longer period. Although some people perceive trading as akin to speculating, it definitely isn’t! Over the course of years of professional trading, one thing is clear: Trading is more about discipline and psychology than drawing support and resistance lines on the charts. The fundamental principles of a trading mindset could be categorized as follows, in their order of importance: Preservation of capital Consistent profitability Pursuit of higher returns Preservation of capital is the most crucial aspect of trading. Everytime we trade, we put the capital at risk. We need to be prepared with ways to mitigate the risk even before entering the trade. If the capital is lost, we will be thrown out of the markets. Winning and losing will continue to be part of the game. It is essential for us to make sure that we never lose more than we win. To determine the viability of any trade, traders most often use a criteria called risk versus reward. This simple criteria allows one to judge whether entering the trade is worthy enough. If the risk versus reward for a particular trade is 1:3, in simple terms it means the trader would risk $10 for a potential profit of $30. Entering unnecessary trades without looking at the risk v/s reward can be disastrous. Although there might be some winning trades, in the long-run such traders almost always end up burning their capital. Consistent profitability as concept comes as a natural succession to the preservation of capital principle. Capital doesn’t remain static. It is either gained or lost. One needs to be consistently profitable to gain capital. In order to achieve this, one needs to preserve the gains and minimize the losses. Assume that a trader only enters trades where the risk/reward is at least 1:3. If the trader wins 1 in every 3 trades, he still ends up being profitable. ( Take a look at the table in our chart ) By banking 50 percent of total returns each time you go from a negative to a positive return within your measuring period, you both increase the amount of available capital after each gain and increase the probability that you will remain profitable. In actual practice, you might decide to bank 50 percent of the net from each profitable trade as long as your performance was positive, but the results would not be substantially different. The basic idea is to never put all your profits at risk. It is fine to double up on a profitable position, but not if it means putting all your gains at risk. The pursuit of superior returns The pursuit of superior returns involves more aggressive risk taking, and only with a portion of profits, never initial trading capital. Most people might think aggressive risk taking involves altering the basic risk/reward criterion. To the contrary, it is foolish ever to ignore or underweigh potential risk. Profits, once accrued, are essentially the same as capital, and must be preserved. But once you have achieved a comfortable level of profits, it is appropriate to increase the size of positions by risking a portion of profits. If you win', you dramatically increase your returns. If you lose, you are still profitable, and can continue to pursue consistent profitability until you reach a higher risk plateau once more. A successful trader never lets her emotions get the better of her. As stated by Victor Sperandeo in his book ‘Principles of Professional Speculation’, a traders' commandments should be as follows: Do not overtrade. Do not take a loss home. Never add to a bad trade. Never let a profit become a loss. Always figure your stop loss before you initiate a trade. Don't be a one-way trader. Be flexible. Add to profitable trades when appropriate. The best time to buy or sell is after consolidations and a break above or below range prices. Parts of this post have been referenced from Victor Sperandeo's book, ‘Principles of Professional Speculation.’ ---------------------------------------------------------------------------------------- Do give a follow and leave a like in case you like our posts. Keep supporting:) -Mudrex
Education
by Mudrex
12
ETHUSD(1D) : ETH saw boost as the daily trading volume roseMarket in the last 1 week The price saw a major jump as it moved from the middle Bollinger band to above the upper Bollinger band. Trading volume has been moderate but saw a major jump due to which there was a sudden jump in the price. Next Week's Trend analysis The price moved above the upper Bollinger band suggesting a momentum reversal so the price is expected to mode in a consolidated movement with a slight indication of bullish momentum. The price change was low at approximately 1.95%, with the week's range between $3696 — $3837. Price at the time of publishing: $3774 ETH’s market cap: $443 Billion However, the Indicator summary is giving a 'BUY' signal on ETHUSD. Out of 11 Oscillator indicators, 4 are giving a SELL signal, 5 are neutral and 2 are giving a BUY signal. Out of 15 Moving average indicators, 0 are giving SELL signal, 1 is giving neutral and 14 are giving a BUY signal. Traded volume has remained high in the past week. If we don't see a sudden spike in volume then we can expect the above analysis to hold true. ---------------------------------------------------------------------------------------- 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 1 Day candles. ---------------------------------------------------------------------------------------- Any feedback and suggestions would help in further improving the analysis!
BITSTAMP:ETHUSDLong
by Mudrex
4
Massive uptrend in Bitcoin, patience does pay off!!If you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis! Quick glance: In our previous analysis, we presented a step by step breakdown of why we felt BTC was poised for a massive movement. The short term trend was still negative. However, BTC made a massive move exactly as per our analysis. The entire crypto spectrum gained more than 4% and now stands at around $2.18 trillion. This was our previous analysis on BTC. Market in the last 24hrs We witnessed massive volatility where BTC moved significantly higher. It made the already pumped-up Altcoins move even higher. Ether, made a huge jump from the day's low of $3384 and moved closer to the $3800 mark. Most of the other top Altcoins replicated a similar move. The crypto fear and greed index is at 71 for the past couple of weeks, indicating a massive bullish momentum prevailing in the markets. Today’s Trend analysis On the daily timeframe, the level near $46,250 proved to be a demand zone as BTC took support yet again at this level. The buying momentum can take Bitcoin over the psychological resistance level of $50,000. Once that level is breached, there could be a lot of bears waiting to short the market. Hence, it might be prudent for a confirmation candle before taking entry. For short timeframe entries, it’s best to use tight stop-loss in such tumultuous markets. The 2 crucial levels at the current price point are $46,230 on the lower range, and $50,000 on the upper range. Price volatility remained high at approximately 5.59%, with the day's range between $46,532.42 — $49,134.00. Price at the time of publishing: $48,825.76 BTC's market cap: $916.93 Billion Out of 11 Oscillator indicators, 9 are neutral, 1 is bearish and 1 is bullish. Out of 15 Moving average indicators, 1 is 'NEUTRAL', none are bearish and 14 are bullish. Indicator summary is giving a ‘ BUY ’ signal on BTCUSD . Volumes have remained high in the past 24 hours. ---------------------------------------------------------------------------------------- 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 24-hour candles. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume . ---------------------------------------------------------------------------------------- Do give a follow if you liked the content. Keep supporting:) -Mudrex
Long
by Mudrex
13
DOGEUSD(4Hr) : Doge to move sideways after seeing a jumpMarket in the last 24hrs The price moved above the middle Bollinger band and can be seen oscillating between the middle and the upper Bollinger band. Trading volume has been very high in the last 24 hours and the volume can be seen decreasing with an increase in prices suggesting a trend reversal suggesting a sideways momentum. Today’s Trend analysis The price is expected to continue to move sideways between the middle and the upper Bollinger band. The price volatility is expected to be low as the Bollinger band can be seen converging. Price volatility was low at approximately 2.57%, with the day's range between $0.274 — $0.286. Price at the time of publishing: $0.281 DOGE’s market cap: $36.88 Billion However, the Indicator summary is giving a 'BUY' signal on DOGEUSD. Out of 11 Oscillator indicators, 1 is giving a SELL signal, 9 are neutral and 1 is giving a BUY signal. Out of 15 Moving average indicators, 4 are giving SELL signal, 1 is giving neutral and 10 are giving a BUY signal. Trading volume has been very high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true. ---------------------------------------------------------------------------------------- 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. ---------------------------------------------------------------------------------------- Any feedback and suggestions would help in further improving the analysis!
BINANCE:DOGEUSD
by Mudrex
2
Ascending channel and chain-metrics point to long term bullishIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis! Quick glance: Our previous analysis on BTC indicated the exact movements of BTC. We keep our immediate and medium term levels unchanged. Bitcoin moved sideways over the past 10 days. The rejection near $50k has kept the bears on their toes. However, the markets did not fall massively after the rejection. On-chain metrics published by the crypto-analytics firm, Santiment, shows that there is impatience near the psychological $50,000 level. This is the 6-H timeframe analysis Market in the last 24hrs The past 24 hours signalled the end of the weekend. As usual, the traded volumes were lower over the weekend, and we saw a minor profit booking. Today’s Trend analysis Bitcoin on-chain metrics published by Santiment indicates that in case bulls manage to touch $50k this time, the price will rally much higher. Apart from this, there are multiple technical indicators which present a bullish case for BTC. There is a massive support region just above the $46.2k mark. It will help the markets weed out the bad actors and help in consolidation in case of a sell-off. The volume profile analysis also points to a significantly large demand zone at the current levels. It can help keep BTC range bound till the bulls emerge stronger. Currently, BTC is in a solid ascending channel. The 2 crucial levels at the current price point are $46,230 on the lower range, and $50,000 on the upper range. Price volatility remained extremely low at approximately 2.71%, with the day's range between $47,623.27 — $48,915.29. Price at the time of publishing: $48,056.76 BTC's market cap: $901.81 Billion Out of 11 Oscillator indicators, 9 are neutral, 2 are bearish and none are bullish. Out of 15 Moving average indicators, 1 is 'NEUTRAL', 3 are bearish and 11 are bullish. Indicator summary is giving a ‘ BUY ’ signal on BTCUSD . Volumes have remained low in the past 24 hours. ---------------------------------------------------------------------------------------- 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 24-hour candles. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume . ---------------------------------------------------------------------------------------- Do give a follow if you liked the content. Keep supporting:) -Mudrex
Long
by Mudrex
23
Weekend plans for BTC, bearish divergence formingIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis! Quick glance: BTC is currently hovering around the $47,000 level. On the 6-hour timeframe, we see the price forming higher whereas the corresponding RSI fails to reach higher highs. It is a classic case of bearish divergence. Market in the last 24hrs The past couple of days were highly volatile for the crypto markets. Both Bitcoin and Ether struggled to find support. The entire market felt the shivers of this volatility. Altcoins went under the hammer. However, towards the end of the day, there was some recovery as Bitcoin seemed to settle around the $47,000 mark. Today’s Trend analysis Although Bitcoin was pretty volatile over the past 24 hours, the markets are slowly stabilising now. BTC broke below the long-term trendline and is currently consolidating. The volatility could largely be attributed to the $1.7 billion worth of options contracts that were up for monthly expiry. Therefore, even though the spot trading volumes were low, there was a lot of activity across the derivatives segment. We have traditionally observed that markets remained shaky during such monthly expiry days. Moving on, the 6-hour timeframe points to two important things. The first is the price of BTC. Price is creating higher highs whereas the RSI is not. Bearish divergences could play out really if supported by volume. Right now, the markets will be entering the weekend and the trading volumes will likely remain low. So traders need to carefully plan their trades. Right now, it would be a good idea to let BTC come out of the consolidation before entering a trade. If the bearish divergence plays out, we will see BTC rise towards the trendline and get rejected. Wait for the confirmation and if it faces rejection, it would be a good idea to short Bitcoin. I reiterate the point: wait for the rejection confirmation! If there is no confirmation candle, and BTC goes higher and accepts the trendline support, we might see a move towards $50k over the weekend! Have a happy weekend! Price volatility remained extremely low at approximately 1.65%, with the day's range between $46,363.00 — $47,655.93. Price at the time of publishing: $47,548.32 BTC's market cap: $888.64 Billion Out of 11 Oscillator indicators, 9 are neutral, 2 are bearish and none are bullish. Out of 15 Moving average indicators, 1 is 'NEUTRAL', 1 is bearish and 13 are bullish. Indicator summary is giving a ‘ BUY ’ signal on BTCUSD . Volumes have increased over the past 24 hours. ---------------------------------------------------------------------------------------- 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 24-hour candles. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume . ---------------------------------------------------------------------------------------- Do give a follow if you liked the content. Keep supporting:) -Mudrex
by Mudrex
11
DOGEUSD(4Hr) : DOGE saw some upward momentumMarket in the last 24hrs DOGEUSD saw a rise with price moving above the midline and reaching the upper Bollinger band. Trading volume has been high in the last 24 hours. Today’s Trend analysis As the Bollinger band is converging, the price volatility is expected to be low. Thus the price is expected to oscillate between the upper and lower Bollinger band while moving sideways with a slight indication of bullish momentum. Price volatility was high at approximately 6.31%, with the day's range between $0.272 — $0.3. Price at the time of publishing: $0.29 DOGE’s market cap: $37.99 Billion However, the Indicator summary is giving a 'NEUTRAL' signal on DOGEUSD. Out of 11 Oscillator indicators, 1 is giving a SELL signal, 8 are neutral and 2 are giving a BUY signal. Out of 15 Moving average indicators, 7 are giving SELL signal, 1 is giving neutral and 7 are giving a BUY signal. Trading volume has been very high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true. ---------------------------------------------------------------------------------------- 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. ---------------------------------------------------------------------------------------- Any feedback and suggestions would help in further improving the analysis!
BINANCE:DOGEUSD
by Mudrex
5
XRPUSD(4Hr) : XRP seeing a major downtrendMarket in the last 24hrs The price saw a major downtrend in the last 24 hours with the price continuously rejecting the bottom Bollinger band as a support line. Trading volume has been high in the last 24 hours and can be seen increasing with a decrease in price suggesting a strong bearish momentum. Today’s Trend analysis The price is expected to continue to move in a bearish momentum until the price accepts the bottom Bollinger bands as a support line after which a consolidated movement is expected. Price volatility was high at approximately 6.98%, with the day's range between $1.07 — $1.19. Price at the time of publishing: $1.09 XRP’s market cap: $50.58 Billion However, the Indicator summary is giving a 'SELL' signal on XRPUSD. Out of 11 Oscillator indicators, 2 are giving a SELL signal, 7 are neutral and 2 are giving a BUY signal. Out of 15 Moving average indicators, 11 are giving SELL signal, 1 is giving neutral and 3 are giving a BUY signal. Trading volume has been high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true. ---------------------------------------------------------------------------------------- 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. ---------------------------------------------------------------------------------------- Any feedback and suggestions would help in further improving the analysis!
BITSTAMP:XRPUSDShort
by Mudrex
9
What does burning a coin mean? Can it tackle inflationIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis! ➡Coin-burning is the intentional and permanent elimination of a portion of cryptocurrency coins from circulation. It is done by sending cryptocurrency tokens to an eater address, also known as a ‘blackhole.’ It is a wallet address where no one holds the private key. Without the private key, these tokens cannot be accessed by anyone and are lost forever. Although creating an artificial supply crunch might seem like an illegal market manipulation technique, it definitely isn't! This act is primarily done to control the price of the particular coin. All the transactions are recorded on the blockchain and cannot be altered. Therefore, everyone can verify that the coins were actually burned. Burning a portion of the entire circulation decreases the supply, thereby increasing its relative scarcity. ➡How did coin-burning as a concept evolve? It is not a new concept at all. Although coin burning in cryptos gained huge popularity recently, a similar concept exists in the case of stocks. Companies buy back shares thereby reducing the total circulation, creating an artificial supply crunch. One of the most notable instances of coin burning was when Vitalik Buterin, the co-founder of Ethereum burned more than 90% of his Shiba Inu tokens. More recently, with the London Hard Fork, close to half a million dollars worth of Ethereum is being burned every hour. ➡Can all coins be burnt or only some specific ones? All cryptocurrency coins can be burnt. The decision to burn tokens usually resides with the developer/miner/team behind the particular coin. ➡What is Proof-of burn? Proof-of-Burn is a consensus mechanism implemented by a blockchain network that operates on the principle of allowing miners to burn virtual currency tokens. Proof-of-burn is like the Proof-of-Work mechanism without the energy wastage. Proof-of-burn involves a mechanism that promotes burning crypto regularly to prevent unfair advantage to the first movers. It also helps to maintain mining power. Instead of a one-time affair, the Proof-of-burn engages miners to carry it on as a routine activity. ➡What it's the need to burn coins and how is it beneficial for the investor? There might be different reasons to burn cryptocurrency coins. The most notable objective is to create a deflationary effect. Removing a large portion from circulation causes a supply crunch. It drives the coin price higher. It makes existing investors pretty happy as the value of their investments is now higher. Additionally, coin burning provides a natural mechanism to prevent spam attacks against something called the Distributed Denial of Service Attack (DDOS). Therefore, it acts as a safeguard for the network. After the London Hard Fork upgrade to the Ethereum network, around 3.17 ETH is being burned every minute. To put this into perspective, as of today’s ETH price of $3100, around half a million dollars worth of ETH is being burned every hour. ---------------------------------------------------------------------------------------- Keep supporting:) -Mudrex
Education
by Mudrex
7
DOGEUSD(4Hr) : DOGE moving sideways with low volatilityMarket in the last 24hrs The price moved sideways in the last 24 hours as the price accepted the lower Bollinger band as a support line. Trading volume has been very high in the last 24 hours. Today’s Trend analysis The price is expected to continue to move sideways and continue to oscillate between the middle and the lower Bollinger band. The price volatility to be low as the Bollinger bands can be seen converging. Price volatility was low at approximately 1.25%, with the day's range between $0.28 — $0.3. Price at the time of publishing: $0.293 DOGE’s market cap: $38.45 Billion However, the Indicator summary is giving a 'SELL' signal on DOGEUSD. Out of 11 Oscillator indicators, 1 is giving a SELL signal, 9 are neutral and 1 is giving a BUY signal. Out of 15 Moving average indicators, 10 are giving SELL signal, 1 is giving neutral and 4 are giving a BUY signal. Trading volume has been very high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true. ---------------------------------------------------------------------------------------- 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. ---------------------------------------------------------------------------------------- Any feedback and suggestions would help in further improving the analysis!
BINANCE:DOGEUSDLong
by Mudrex
1
BTC around $50k, Short term trade setups with different tfIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis! Quick glance: BTC is currently hovering around the $50,000 level. This level was last breached in mid-May this year. Although we are in a long-time bullish momentum zone, it is important to analyse the different timeframes for profitable trades. In this case, we have used a simple trading bot that is set to take trades on different price points. It is a straight-forward price action strategy without the use of any indicators. Market in the last 24hrs The past 24 hours saw Bitcoin consolidate and fell marginally lower than the $50,000 mark. It is anyway a psychological resistance level, and there was some profit booking. However, the traded volumes remained low and both the bears and bulls were watchful, which can also be observed from the small body of the daily candle. Today’s Trend analysis We are witnessing a positive momentum in the markets currently. However, we wouldn’t straight-forward buy Bitcoin at this point, as markets can be quite treacherous close to the inflection point. We will use a simple bot that can enter both buy-sell positions based on different price points. These wouldn’t be leveraged positions. We arrived at those positions based on different timeframes. On the daily timeframe, the bot will match two conditions for a long entry: - Average volume candle for the past 3 days > Average volume candle for past 10 days - Price greater than $51,178 The bot will also be capable of taking a short position if: - Price crosses down $51,178 Similarly, the same bot will enter a short position on the 4-hour timeframe if: - Price crosses down $48,580. Crosses down implies price going higher than $48,580 and then facing bearish pressure and falling lower. $48,580 was a strong support and if the price falls lower than this, we will likely see a larger dip. Average volume candle for 3 days > average volume candle for 10 days gives a proper indication as to the trend in the market. As already mentioned, this is a simple bot with a price action strategy based on technical analysis. The strategy is equipped with a hard stop-loss set at 5%. Price volatility remained low at approximately 2.3%, with the day's range between $48,765.80 — $49,893.50. Price at the time of publishing: $49,357.32 BTC's market cap: $928.88 Billion Out of 11 Oscillator indicators, 8 are neutral, 1 is bearish and 2 are bullish. Out of 15 Moving average indicators, 1 is 'NEUTRAL', 1 is bearish and 13 are bullish. Indicator summary is giving a ‘ BUY ’ signal on BTCUSD . Volumes have increased over the past 24 hours. ---------------------------------------------------------------------------------------- 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 24-hour candles. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume . ---------------------------------------------------------------------------------------- Keep supporting:) -Mudrex
by Mudrex
11
2021 could give a significant boost|Multi-timeframe setupIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis! Quick glance: The crypto blue chips, Bitcoin and Ethereum, are facing a bit of selloff lately. It brought bigger troubles for the Altcoins. However, the medium to long term prospects for ETH look highly positive. The daily and the weekly time-frames both point to a massive support level below the current price. We might see some selloff in the short term. However, by the end of 2021, we might look at a massive price point for ETH. Market in the last 24hrs The last 24 hours witnessed a selloff across the spectrum. The entire market cap declined by almost 4%, and the traded volumes shot up. Volumes are always a great indicator to judge whether the market is influenced by a directional momentum or merely consolidating. Today’s Trend analysis ETH has room to decline a bit more. In both the daily and the weekly charts, we find that 0.5 Fibonacci Retracement level is a bit lower than the current price point. $3000 would be a good accumulation zone for Ether. On the shorter timeframes of 4-hour and 1-hour, we see a couple of interesting factors. On the 4-hour timeframe, we witness the Money Flow Index heading down towards the oversold region. It will eventually bottom out, and then we would likely see an influx of buyers. It coincides with our analysis on the daily as well as the weekly timeframes. On the hourly timeframe, we can enter into short term trading strategies following good risk:reward setups. Entry could be after a breakout from $3165, with the target at $3243, and stop loss at $3145. It is an excellent reward:risk close to 4:1. Price volatility remained moderate at approximately 4.76%, with the day's range between $3077.81 — $3224.33 Price at the time of publishing: $3140.80 ETH's market cap: $369.56 Billion Out of 11 Oscillator indicators, 9 are neutral, 2 are bearish and none are bullish. Out of 15 Moving average indicators, 1 is 'NEUTRAL', 5 are bearish and 9 are bullish . Indicator summary is giving a NEUTRAL signal on ETHUSD . Volumes have remained pretty low in the past 24 hours. ---------------------------------------------------------------------------------------- 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 4 hour candles. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume . ---------------------------------------------------------------------------------------- Keep supporting:) -Mudrex
BITSTAMP:ETHUSDLong
by Mudrex
4
Short term trade setups on different levelsIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis! Quick glance: BTC is currently facing some flak around the $46,800 level. There has been some profit booking over the past few sessions. This analysis is aimed at taking advantage of the volatility in the markets. Market in the last 24hrs The past 24 hours saw Bitcoin breakout of the bearish shackles. Initially, markets appeared to be undergoing another consolidation. However, that changed soon after BTC and ETH shot up above the crucial resistance levels. Today’s Trend analysis Markets are pretty volatile towards the end of the week. This analysis aims to harness this volatility through an algo that acts on different levels in the short timeframe. The pivot level for BTC is at $46,000. However, there is a narrow consolidation that is shaping up on the hourly time frame. Therefore, there are 2 possible short term setups at this moment. There seems to be a strong resistance zone at $47,300. If Bitcoin manages to break above this level, we can take a long entry, with a stop loss at $46,750. The target would be the recent high at $48,000, which also happens to be a nice psychological resistance level. IT will be a decent long entry with a reward: risk ratio of 1.21:1. We also trail the position. Another strategy would be a short entry. This will come into effect if Bitcoin falls below $46,750, as there is a lack of strong support until some time. This position can be entered with a trailing stop-loss and a hard take-profit setup of 5%. In both these situations, I would keep a stop-loss in the algorithm, to hedge in case things go wrong. Price volatility remained extremely low at approximately 1.65%, with the day's range between $46,645.77 — $47,418.71. Price at the time of publishing: $46,877.58 BTC's market cap: $881.54 Billion Out of 11 Oscillator indicators, 8 are neutral, 2 are bearish and 1 is bullish. Out of 15 Moving average indicators, 1 is 'NEUTRAL', 3 are bearish and 11 are bullish. Indicator summary is giving a ‘ BUY ’ signal on BTCUSD . Volumes have remained constant over the past 24 hours. ---------------------------------------------------------------------------------------- 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 24-hour candles. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume . ---------------------------------------------------------------------------------------- Keep supporting:) -Mudrex
BITSTAMP:BTCUSD
by Mudrex
6
Possible scenarios in SOL after a 65% jump in 7 daysIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis! Quick glance: SOL is currently facing some major profit booking, days after reaching a new ATH. We recently saw a huge bump in volumes. However, since then we saw a slight consolidation followed by a heavy profit booking. Market in the last 24hrs The past 24 hours saw the selloff reducing a bit, as the body of the candle is small. It indicates a bit of indecisiveness. Today’s Trend analysis If we take a look at the Money Flow Index, we can witness that SOL is in the highly overbought territory. It is not exactly sustainable and we are likely to see some profit booking. This rally was impending in SOLANA for a long time as it was in a major consolidation for quite some time. SOL went up more than 65% for the week. A prudent decision at this point would be to wait for a pullback and a consolidation. If after the consolidation, SOL starts rising on the daily, we might look at another buying opportunity. In case it falls again after the consolidation, we would know that SOL hasn’t found support yet and a deeper correction might be pending. Price volatility remained high at approximately 7.26%, with the day's range between $70.33 — $75.44. Price at the time of publishing: $72.80 SOL’s market cap: $21.03 Billion Out of 11 Oscillator indicators, 8 are neutral, 2 are bearish and 1 is bullish. Out of 15 Moving average indicators, 1 is 'NEUTRAL', 1 is bearish and 13 are bullish. Indicator summary is giving a ‘ BUY ’ signal on SOL. Volumes have decreased over the past 24 hours. ---------------------------------------------------------------------------------------- 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 24-hour candles. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume . ---------------------------------------------------------------------------------------- Keep supporting:) -Mudrex
Short
by Mudrex
4
Massive breakout in ALGORAND after weeks of consolidationIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis! Quick glance: As of today, ALGO made a 17.70% jump and broke out after eight weeks of consolidation. ALGO saw a massive buying pressure and broke the $1 barrier. Market in the last 24hrs The last 24 hours were a directional trending day as Algorand moved linearly higher throughout the session. Today’s Trend analysis ALGO gave a massive breakout as it moved above the $1 mark. Massive accumulation drove prices higher. Now, coming to the important price levels, $1.09 is a local resistance level as it marks the top of the inverse head & shoulders pattern. ALGO would definitely face some pressure around this level. In case we see Algorand being shaky, we can certainly expect it to drop lower. The second scenario is Algorand breaking the resistance level. In that case $1.15 was the monthly high. As trading psychology dictates, this level would act as another massive resistance level. Setting up a buying strategy in case ALGO breaks above the $1.09 level, the take profit target could be set at $1.15. Price at the time of publishing: $1.0440 MATIC's market cap: $3.43 Billion Out of 11 Oscillator indicators, 9 are neutral, none are bearish and 2 are bullish. Out of 15 Moving average indicators, 1 is 'NEUTRAL', none are bearish and 14 are bullish. Indicator summary is giving a ‘STRONG BUY’ signal on ALGOUSD . Volumes have massively shot up over the past 24 hours. ---------------------------------------------------------------------------------------- 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 24-hour candles. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume . ---------------------------------------------------------------------------------------- Keep supporting:) -Mudrex
A
by Mudrex
3
Trouble brewing for the short term? Possible levels...If you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis! Quick glance: ETH faced a retracement after the recent cool-off period following its massive rally. Lately, Ether has been under selling pressure with traded volumes dropping tremendously. Market in the last 24hrs The last 24 hours were a period of consolidation, where we saw ETH making largely range bound movements. Today’s Trend analysis With BTC dropping below the $45,000 mark, there was a similar profit booking across Ether. ETH dropped below the $3000 mark, and it now faces strong resistance from the psychological $3k mark. The short term trend for ETH remains bearish. The Money Flow Index showed a significant drop lately. One prudent approach to make use of these dips would be to use accurate algo-trading bots that make the perfect use of scalping. Price volatility remained low at approximately 3.2%, with the day's range between $2957.95 — $3052.73 Price at the time of publishing: $2991.29 ETH's market cap: $350.50 Billion Out of 11 Oscillator indicators, 7 are neutral, 1 is bearish and 3 are bullish. Out of 15 Moving average indicators, 1 is 'NEUTRAL', 10 are bearish and 4 are bullish . Indicator summary is giving a BUY signal on ETHUSD . Volumes have remained pretty low in the past 24 hours. ---------------------------------------------------------------------------------------- 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 4 hour candles. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume . ---------------------------------------------------------------------------------------- Keep supporting:) -Mudrex
BITSTAMP:ETHUSD
by Mudrex
6
DOGEUSD(4Hr) : DOGE expected to see some volatilityMarket in the last 24hrs The price oscillated between the middle and the bottom Bollinger band in the last 24 hours. Trading volume has been very high in the last 24 hours. Today’s Trend analysis The price breaking below could be an indication of a bearish momentum while oscillating between the middle and the bottom Bollinger band. There is a chance that this might be a false breakout and we can expect the price to move above the trend line and continue to move in bullish momentum. Price volatility was low at approximately 1%, with the day's range between $0.282 — $0.324. Price at the time of publishing: $0.319 DOGE’s market cap: $41.98 Billion However, the Indicator summary is giving a 'BUY' signal on DOGEUSD. Out of 11 Oscillator indicators, 2 are giving a SELL signal, 9 are neutral and 0 are giving a BUY signal. Out of 15 Moving average indicators, 0 are giving SELL signal, 1 is giving neutral and 14 are giving a BUY signal. Trading volume has been very high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true. ---------------------------------------------------------------------------------------- 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. ---------------------------------------------------------------------------------------- Any feedback and suggestions would help in further improving the analysis!
BINANCE:DOGEUSD
by Mudrex
2
ADAUSD(4Hr): Cardano to now move sideways after an uptrendMarket in the last 24hrs ADAUSD moved sideways from the middle to the bottom Bollinger band in the last 24 hours. Trading volume has been high in the last 24 hours. Today’s Trend analysis The price is expected to move between the bottom and the middle Bollinger band while moving in a slight bearish momentum. Price volatility was low at approximately 3.63%, with the day's range between $2.03 — $2.14. Price at the time of publishing: $2.06 ADA’s market cap: $66.29 Billion However, the Indicator summary is giving a 'BUY' signal on DOGEUSD. Out of 11 Oscillator indicators, 2 are giving a SELL signal, 6 are neutral and 3 are giving a BUY signal. Out of 15 Moving average indicators, 6 are giving SELL signal, 1 is giving neutral and 8 are giving a BUY signal. Trading volume has been high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true. ---------------------------------------------------------------------------------------- The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles. ---------------------------------------------------------------------------------------- Any feedback and suggestions would help in further improving the analysis!
KRAKEN:ADAUSD
by Mudrex
5
XRP(4Hr) : XRP to see some consolidation after moving above 1$Market in the last 24hrs The price moved below the middle Bollinger band and can be seen touching the bottom Bollinger band. Trading volume has been very high in the last 24 hours. Today’s Trend analysis The price is expected to move in a consolidated momentum and oscillate between the bottom and the upper Bollinger band. The price volatility is expected to be low as the Bollinger band can be seen converging. Price volatility was low at approximately 8.78%, with the day's range between $1.14 — $1.3. Price at the time of publishing: $1.18 XRP’s market cap: $54.78 Billion However, the Indicator summary is giving a 'NEYTRAL' signal on XRPUSD. Out of 11 Oscillator indicators, 2 are giving a SELL signal, 8 are neutral and 1 is giving a BUY signal. Out of 15 Moving average indicators, 5 are giving SELL signal, 1 is giving neutral and 9 are giving a BUY signal. Trading volume has been high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true. ---------------------------------------------------------------------------------------- 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. ---------------------------------------------------------------------------------------- Any feedback and suggestions would help in further improving the analysis!
BINANCE:XRPUSD
by Mudrex
5
ADA gearing up for a huge upside|breakout from this channel ^^^If you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis! Quick glance: As of now, Cardano is hovering around the $1.30 mark and is coinciding with the 50-day Moving Average. ADA has remained unaffected by the recent rally that was observed across the cryptocurrency spectrum. Market in the last 24hrs ADA remained tightly range bound. This channel pattern has been in place from February 27. Today’s Trend analysis In one of our previous educational posts, we discussed how such patterns are very significant. Even though the analysis aimed at intraday traders, it is equally true for such long term trades. ADA is facing multiple resistance levels on the daily timeframe. ADAUSD is currently facing resistance from the 50-day Moving Average and is already below the 100-day MA. Therefore, the price could remain under pressure in the short run. However, once it manages to break-out from this channel, ADAUSD could potentially make a huge move on the upside. Cardano has remained unscathed by the recent volatility in the market. The developer community of Cardano is active on various social media portals and have been talking about the projects in the pipeline. Price volatility remained moderate at approximately 4.83%, with the day's range between $1.262 — $1.323. Price at the time of publishing: $1.303 ADA’s market cap: $41.82 Billion Out of 11 Oscillator indicators, 9 are neutral, none are bearish and 2 are bullish. Out of 15 Moving average indicators, 1 is 'NEUTRAL', 1 is bearish and 13 are bullish. Indicator summary is giving a ‘BUY’ signal on ADAUSD . Volumes have remained low over the past 24 hours. ---------------------------------------------------------------------------------------- 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 24-hour candles. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume . ---------------------------------------------------------------------------------------- Keep supporting:) -Mudrex
BINANCE:ADAUSDLong
by Mudrex
8