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BTCUSD → H&S base retest. What can this lead to? Bitcoin forms the H&S pattern and for quite a long time the price is in the pattern realization stage, forming a flag, which, theoretically, can continue to fall. After breaking through the support at 26700 and updating the low to 25878, the price starts to reverse and forms a retest of the previously broken level. In this case, the market may test the future prospects of the H&S pattern. If the level of 26700 holds the price down, the realization of the pattern will continue and bitcoin may weaken to 25400. But, as it often happens, the market can break the essence of the pattern and deactivate it, but in this case the bulls will have to take the 26700 area under their control. Daily MA-50 acts as a resistance and the price can test this line in the mid-term. Daily MA-200 acts as a strong support. Currently, the price is consolidating at 26700 and near the key Fibo area of 0.382 at 26655. Consolidation tells us that this level is felt by the market and is a key link for the future outlook. On the weekly timeframe we see a correction after testing and false breakdown of the level 30261. The correction is directed towards the level of 25400, which plays a rather important role in the global outlook. Fundamental component: 1) Friday news for the US market plays into the hands and the flagship strengthens following the SP500 index 2) Coinbase - BTC may move out of its trading range in case of a US default 3) US presidential candidate, governor of Florida: "There will be no CBDC in the U.S. if I become president. BTC is a threat to the current regime." 4) Glassnode: the number of long-term holdings in various categories is growing Bitcoin is still looking good at the moment. This correction after a long rally is quite predictable and logical. We continue to follow the flagship and the designated levels. Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
28
XRPUSDT → H&S which can strengthen the Ripple XRPUSDT forms quite a long correction, which turned into a counter-trend movement after a false breakout 0.5590 was formed and the channel resistance was touched. The Ripple falls and tests the ascending support line, relative to which the "H&S" pattern is formed. A false breakout of the support line is formed and the price forms an impulse to the base of the reversal pattern. At the moment, the resistance at 0.4761 plays a key role, if this area is broken, the cryptocurrency pair will form a bullish impulse, within which it can reach the resistance at 0.5850. A global upward price channel is being formed. Moving averages act as support. Strong resistance: 0.4761, 0.4928, 0.5078. Strong support: downward pattern base line, 0.4620 Price is currently squeezed in the local range of 0.4761 and 0.4700. If the bulls hold the lower boundary of the range and start to test the resistance, then after the next retest we will see a breakout at 0.4761 with the following growth Regards to R.Linda!
Long
by RLinda
13
BELUSDT → Triangle breakout and retest of trend resistance BELUSDT shows chic bullish dynamics on the background of red falling bitcoin. BEL is currently one of the few coins that feels good enough for the medium term. In the background of the bearish wedge, the price makes numerous retests to the trend resistance and at the same time the cryptocurrency pair begins to form a consolidation, which takes the shape of the pattern "Triangle". We observe a triangle breakout and another retest of wedge resistance. If the price manages to break the boundary, BEL / Tether will show great growth of 60% and 120% respectively! The moving averages act as support, the price is in the risk zone between the two key boundaries. Triangle pattern realization is forming. Strong support: earlier broken resistance of the pattern; support 0.6580 Strong resistance: downward wedge resistance, 0.8284 I expect that the bulls will be able to consolidate above the triangle and finally break the wedge resistance with the subsequent growth to 1.2790 and to 1.7676 Regards R. Linda!
Long
by RLinda
14
WAVESUSDT → The price comes out of the wedge. Expect impulseWAVESUSDT makes a retest of the strong support area of 1.500 and breaks the resistance of the descending wedge. This set-up, if positive, could strongly reverse the market. The price tests the liquidity of the support area and forms a rebound from the 1.500 level. In phase two, the price breaks the wedge resistance and is in a consolidation format. A local resistance of 1.669 is forming on the junior timeframe. If the bulls can overcome this resistance zone, an impulse may form, which will only push the price after exiting the wedge. The moving averages act as resistance. The price might soon test the MA-50. Strong support: the descending boundary of the wedge, level 1.500 Strong resistance: 1.669, 1.800, 2.350 I expect consolidation above the level of 1.500 and breakout of 1.669 with further growth of the price to 2.350, then to 5.000 Sincerely R. Linda!
WLong
by RLinda
20
FLOWUSDT → Breakthrough of the wedge resistanceFLOWUSDT forms the bottom in the area of 0.742. After numerous attempts to break the trend resistance, the price breaks it. A consolidation is forming, which could push the price up. The level of 0.742 is a key support at the moment. The task of the bulls is to keep the price above this area. For a long time we have been seeing a downtrend with numerous attempts to break resistance. For the last month, the price has been forming a decrease in volatility and moving into a consolidation phase. The cryptocurrency pair was accumulating potential to break the resistance, which in the near future, if the local resistance areas are broken, may start the phase of realization of the accumulated energy. The moving averages act as resistance. Strong support: the previously broken wedge boundary, the level of 0.742. Strong resistance: 0.800, MA-50, MA-200, 1.000 I expect the bulls will be able to hold the support level, the price will exit the local consolidation and continue to strengthen towards 1.000, 1.8000 Regards R.Linda!
Long
by RLinda
14
BTCUSD → H&S has not yet given a proper reaction. Range 28-26K$Bitcoin is trading between 0.382 Fibonacci levels and the key liquidity area of 28000. The H&S pattern without a proper reaction could confuse the market. What to expect from the price? In practice and statistically, the strongest moves occur after a false breakdown. The set-up H&S made a false break of the ascending channel, the pattern base is broken, but the price is consolidating above the strong support from the W1 timeframe - 2654. If the bulls hold this level, the price will start to break the reversal set-up. The cryptocurrency flagship is consolidating between the Fibonacci levels of 0.382 and 0.236. A break-up of the upper boundary will return the price to green zone and thereby the price will get a good potential for further strengthening towards 30,000, but a break-down of the lower boundary of the range will send the price to the retest of 0.5 Fibo and a strong support level from the weekly timeframe 25053, which will make the whole market nervous The way I see it, the correction in bitcoin is reasonable and after the strong rally we should have expected this kind of reaction. From the point of view of technical analysis, the asset should gather the necessary liquidity for a further move in one direction or the other. Fundamental factors: There is an increasing level of fear of further declines in bitcoin Lightning network has entered into a partnership with chainalysis and TRM Labs, allowing it to control all payments through the said network Cryptominer Marathon Digital and Brink will raise $1 million to support BTC developers BTC mining complexity continues to break records The number and volume of large BTC transactions continues to grow. The current halving cycle in bitcoin is 76% complete I think that the correction with the average probability can continue up to the level of 25400 - 25053, but if the price overcomes the area of 28000, the growth will start earlier. Since we see bullish dynamics on the global timeframes and overcoming the strong resistance zones, after the correction and rest, the growth may resume. Regards R. Linda!
BITSTAMP:BTCUSD
by RLinda
19