Trading Idea: Dogecoin Support Level StrategyCurrent Support Level: Dogecoin (DOGE) has reached a key support level.
Bounce Scenario: If the price holds this support, we could see a bounce from here, offering a potential long entry opportunity.
Breakdown Scenario: However, if the price breaks below this support, it could signal further downside, with the next target being the next support level.
Confirmation: Wait for a clear bounce or breakdown confirmation before entering. A strong bounce would suggest upward momentum, while a close below the support with increased selling pressure would confirm the breakdown.
Risk Management: If entering on a bounce, place a stop-loss just below the support. If entering on a breakdown, place a stop-loss slightly above the broken support level to manage risk.
USDT-M
USDT Market cap & Bitcoin Price Update"$15k to $74k"...In this bitcoin rally, market dumped total 5 times 📉
But every time the CRYPTOCAP:USDT market cap is just going UP📈 Whales are pumping market by buying every dip🚀
After touching $74K, btc price dumped -32% but USDT Market cap pumped almost +16%
It indicates that usdt is printed daily to buy the dips!
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2017 : USDT MCAP 1.4B - BTC ATH 20K
2021 : USDT MCAP 82B - BTC ATH 69K
2024 : USDT MCAP is now 118B - BTC Price is $60K
USDT pumped +44% but btc still below previous ATH
The Bull Run is not over!
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cnb006
TURBO price volatility gonna increase soonAfter four months of sideways accumulation and holding strong above 0,003$ TURBO is poised to face the next leg up. Considering that the Ethereum meme ecosystem is constantly growing and - chartwise - ETH is making higher highs and higher lows over the last two years riding towards new all-time-high this could play out very well in the future.
Historically, squeezing Boilinger bands point to a big volatility move after consolidation. Let's see how this play out.
BTC Correction to 59K – Next 61K?GM crypto bro's, happy weekend! This morning, the Fear and Greed Index remains neutral at 51. BTC made a slight correction last night to the 59K area. The next big possibility is still 61K - 62K.
Today's market update is mostly the same as yesterday. As always, the market is dynamic; don’t be FOMO. Stay safe, keep calm, and remember anything can happen in the crypto market. Always manage your risk. That’s all for today’s crypto update—this is Akki signing off with one chart. Have a nice day!
PORTALUSDT.4HAnalyzing the 4-hour chart for PORTAL/USDT, it's evident that the price has been experiencing a volatile trend. Initially, the price observed a significant drop from a high, marking a critical resistance level, denoted as R1, at approximately $0.3474. This was followed by a downtrend where the price formed lower highs and lower lows, confirming a bearish momentum.
After reaching a local low, the price rebounded, but it faced resistance at the descending trendline, unable to break through. This resistance, along with the subsequent lower high, reconfirms the strength of the bearish trend. As I analyze further, the immediate support level, labeled as S1 at $0.2074, appears crucial. A breach below this could lead to further declines, potentially retesting the previous low at around $0.2035.
From a technical perspective, the Moving Average Convergence Divergence (MACD) is hovering near the zero line with a flat histogram, which indicates a lack of strong momentum in either direction. The Relative Strength Index (RSI) at 55 suggests that the asset is neither overbought nor oversold, providing little directional bias from this indicator.
In conclusion, the current market setup suggests a cautious approach. The persistence of the bearish trendline and the resistance levels above indicate that any bullish efforts might be capped, whereas a break below the $0.2074 support could ignite further selling pressure. Trading strategies should consider these technical levels, with potential setups for short positions on rallies towards resistance or breakdowns below support, always keeping an eye on sudden shifts in market sentiment that could disrupt this technical outlook.
ADAUSDT.1DExamining the daily chart for ADA/USDT, it’s apparent that Cardano has undergone a period of considerable decline followed by stabilization. The chart reveals a clear descending trendline, with price peaks progressively lowering, indicative of a strong bearish trend.
The price currently hovers near $0.3530, with evident support around the $0.2786 level, marked as S1. This support is critical as it has previously prevented further declines. The resistance levels are defined, with the primary resistance R1 at $0.4634. The price action around these levels suggests consolidation with a potential for either an upward breakout or further downside if the support fails.
The Moving Average Convergence Divergence (MACD) shows the MACD line below the signal line and close to crossing back, which can often suggest a potential shift in momentum. However, the negative values imply bearish pressure remains. The Relative Strength Index (RSI) is around 45, indicating neither overbought nor oversold conditions, suggesting a lack of strong momentum to drive price significantly in either direction.
In summary, ADA/USDT is in a critical phase, consolidating within a bearish trend. A decisive movement beyond the established resistance at $0.4634 could signal a reversal and potential bullish upturn, while a break below the support at $0.2786 may extend the bearish trend. Given the current market conditions, my strategy would involve closely monitoring these levels for signs of a breakout or breakdown, allowing for tactical entries based on confirmed movements beyond these key thresholds.
ICPUSDT.1DObserving the daily chart for ICP/USDT, it's clear that the market has undergone various shifts, marked by the creation of significant high and low points. The price currently hovers around $8.622, nestled within a defined trading range.
Trend Analysis: The ICP has been trending downward, as indicated by the descending red trendline on the chart. This trendline has been a consistent resistance, pushing the price lower on each attempt to break higher. The recent price movement suggests an upward trend might be forming, but it remains critical to see if the price can break and hold above this descending resistance.
Key Levels:
Support (S1): $4.681 - This level is crucial as it represents the most recent significant low. A breach below this could signal a continuation of the bearish trend.
Resistance (R1): $11.125 - This level aligns with previous price peaks and the descending trendline. A breakout above this level would be a significant bullish indicator.
Resistance (R2): $14.156 - This is the next significant resistance if R1 is surpassed, indicating a possible return to previous highs.
Technical Indicators:
MACD: The MACD line is above the signal line and both are above zero, suggesting a growing bullish momentum. However, the close proximity to the signal line advises caution.
RSI: At approximately 59.57, the RSI is in a neutral zone, indicating no overbought or oversold conditions currently but leaning towards overbought territory.
Conclusion: Considering the current setup, my strategy would involve watching for a decisive break above the R1 resistance level at $11.125. Such a move could validate a change in trend from bearish to bullish. Conversely, a drop below the recent support at $4.681 would reinforce the bearish trend and could indicate further downside. Given the current market signals, maintaining a flexible position to capitalize on a confirmed breakout above resistance or breakdown below support would be prudent. The inclusion of stop-loss orders to manage risk in case of sudden market reversals is also advisable.
FTMUSDT.1DUpon reviewing the daily chart for FTM/USDT, I see a fascinating trend and pattern development that deserves attention. Currently, the price is around $0.4712, showing some signs of recovery after a prolonged downtrend.
Trend Analysis: The previous downtrend was marked by a series of lower highs and lower lows, as depicted by the descending trendline. Recently, the price has broken above this trendline, suggesting a potential reversal or at least a pause in the downtrend. This breakout could be an early signal of changing dynamics in the market.
Key Support and Resistance Levels:
Support 1 (S1): $0.2563 - This level, marked on the chart, has previously acted as strong support. It's critical because if the price were to decline, a hold above this level could reinforce bullish sentiments.
Resistance 1 (R1): $0.5715 - This level is the immediate hurdle for any upward movement. It coincides with past price reactions, making it a significant threshold for further gains.
Resistance 2 (R2): $0.7985 - Should the price move past R1, this next level would likely act as a substantial resistance, being a previous high area.
Technical Indicators:
MACD: The MACD line is above the signal line and both are above zero. This indicates increasing bullish momentum, which supports the potential for further price increases if the trend continues.
RSI: The Relative Strength Index is around 31.60, close to the oversold territory. This suggests that the market could be undervalued at this point, potentially leading to a buying opportunity.
Conclusion: The break above the descending trendline along with supportive indicators like MACD and RSI near oversold levels suggest an emerging bullish scenario. My strategy would be to watch for a sustained hold or consolidation above the trendline and possibly enter long positions near the support of $0.2563, targeting the next resistance levels. However, it's crucial to be vigilant and prepared to adjust strategy based on how the price reacts at these key resistance levels. Setting stop-losses below S1 would be prudent to manage potential downside risk. This approach offers a balanced view between optimistic recovery signals and the need for cautious risk management.
MINAUSDT.4HExamining the 4-hour chart for MINA/USDT, we notice a prevailing downward trend with the price currently at around $0.4372. The chart displays a series of lower highs and lower lows, a hallmark of bearish momentum over the observed period.
Trend Analysis: A descending trendline captures the series of lower highs, indicating sustained selling pressure. The price recently tested this trendline and was rejected, reinforcing the strength of this downward trajectory.
Key Support and Resistance Levels:
Support 1 (S1): $0.3203 - This level represents a significant low point on the chart where the price could potentially stabilize or rebound if it continues to fall.
Resistance 1 (R1): $0.6060 - This marks the most recent peak before the price retraced. Overcoming this level would be crucial for reversing the current bearish sentiment.
Technical Indicators:
MACD: The Moving Average Convergence Divergence (MACD) line is close to the signal line, indicating a potential for either direction, but still below zero which suggests bearish dominance.
RSI: The Relative Strength Index (RSI) at approximately 59 indicates a neutral momentum, neither overbought nor oversold, suggesting potential for either upward or downward movement.
Conclusion: Given the established downtrend and current resistance testing, caution is advisable. The strategy would involve monitoring for any potential breaks above the trendline as a sign of bullish reversal. Should the price approach the support at $0.3203, watching for a strong bounce or further decline will be critical. Trading should consider these levels for setting entry and exit points, with a close watch on the MACD and RSI for any signs of momentum shift. Setting stop losses just below the support levels can help mitigate risk in case of a breakdown.
ONEUSDT.4HUpon examining the 4-hour chart for ONE/USDT, I've observed several key dynamics that inform my technical analysis:
Trend Overview: The price action over recent months shows a fluctuating but overall bearish trend. The chart presents a series of higher lows and lower highs, indicating significant volatility within a descending channel.
Key Support and Resistance Levels:
Support 1 (S1): $0.01116 - This level has previously acted as a strong floor for price dips, and any approach towards this value should be closely monitored for potential buying opportunities or further breakdowns.
Support 2 (S2): $0.01010 - This represents the lowest recent price point, a critical juncture if the downtrend continues and breaks past S1.
Resistance 1 (R1): $0.01329 - This level has capped recent attempts to rally, and a break above this could signal a short-term bullish reversal.
Resistance 2 (R2): $0.01483 - A further challenge for bullish momentum, crossing this could shift medium-term market sentiment.
Technical Indicators:
MACD: The Moving Average Convergence Divergence (MACD) lines are close to converging, suggesting a potential change in momentum or a stabilization of price movement.
RSI: The Relative Strength Index (RSI) is at 63.75, which leans toward overbought territory but still allows for some upward movement before typical reversal signals become apparent.
Conclusion and Strategy: Based on the current chart setup and the proximity of price to S1, my strategy would involve close observation for either a bounce off S1 or a break below, with potential entries set near these key levels. For bullish scenarios, awaiting a clear break above R1 with increased volume would be prudent before initiating long positions. Alternatively, a drop below S1 should prompt consideration for short positions, especially if followed by sustained low momentum or further bearish indicators.
Risk management is crucial given the volatile nature of ONE/USDT, with tight stop losses just above or below the key levels depending on the position (long or short) to protect against sudden directional changes. The ongoing observation of MACD and RSI will be vital in adjusting strategies as the market sentiment evolves.
Bitcoin Short-Term Resistance: Watch The Bears!In this analysis I want to take a look at BTC's short-term price action: what can we expect over the next few days?
As seen on the chart, the price is currently slightly reversing from the diagonal purple resistance. It's too early to call for a reversal, but we have to be cautious nevertheless.
On the bottom you can see the RSI indicator flashing overbought. The previous 2 times this occurred it caused a reversal.
This is exactly the same as today: RSI overbought and hitting resistance. This is not a time to be bullish. I'd wait for the price to pierce through the resistance. For aggressive bears, however, this seems like a perfect bearish swing-trade.
HelenP. I Bitcoin will continue to move up to resistance levelHi folks today I'm prepared for you Bitcoin analytics. If we look at the chart we can see how the price some time ago rebounded from the resistance level and dropped lower than the support level, which coincided with the support zone. After this, BTC turned around and in a short time rose higher than the 53900 level, breaking it, and then continued to grow to the resistance level. When the price reached this level, it some time traded near it, after which made the correction and later backed up to the 61200 level. Soon, BTC broke this level and then reached a trend line, after which the price turned around and dropped lower 61200 level, breaking it one more time and continuing to decline. Price declined near the trend line to the support zone, after which the price turned around and made an impulse up, breaking the trend line. At the moment, BTC continues to move up, so, I expect that price will continue to move up to 61200 resistance level. For this case, my goal is this level. If you like my analytics you may support me with your like/comment ❤️
BITCOIN - Price can start to decline inside rising channelHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊
A few moments ago price entered to rising channel, where it reached $61800 level, broke it, and continued to move up.
Price reached resistance line, then it turned around and started to decline and soon exited from channel.
Next, price continued to decline in wedge, where it declined lower than $61800 and $55700 levels, breaking its.
Then BTC reached support line of wedge and then started to grow inside another rising channel.
In this channel, price broke $55700 level and at the moment it trades near resistance line of channel.
Possible, BTC can reach resistance line of channel and then start to decline to $55500
If this post is useful to you, you can support me with like/boost and advice in comments❤️
TOTAL3 on the verge of a massive breakoutThe altcoin sentiment is in the gutter, FUD everywhere, everybody is calling for "recession", including the stock market. Perfect conditions to turn the ship around and blast off to new highs and leave sideliners angry.
Historically, squeezing Boilinger bands point to a big volatility move after consolidation. Let's see how this play out.
LINK Long-Term Entry OpportunityLINK has recently touched the bottom purple support again. After 4 touches, this support seems to be an important level for traders.
To optimize our entry, we're going to wait for the price to touch the support again in the coming weeks. With a stop below the recent fear-low and a target around the current all-time high we can construct a very decently bullish trade.
Keep in mind that it's a risky bet. BTC is slowly bleeding and alts overall look bad. However, a R/R over 20 when trading from an established long-term support is worth a bit of risk.
Stablecoin liquidity is king - Bitcoin bullish thesisAn increase in stablecoin market cap often signals more money entering the crypto space, indicating bullish sentiment as investors prepare to deploy capital. This increased liquidity can lead to smoother trading and attract more participants, potentially driving up Bitcoin's price.
The chart clearly illustrates this relationship:
• Blue line (USDT+USDC+DAI market cap) shows steady growth
• Orange line (Bitcoin price) follows with more volatile increases
This correlation can serve as a leading indicator for Bitcoin price movements. During downturns, investors might sell Bitcoin for stablecoins, but as sentiment shifts, this "dry powder" can quickly flow back, driving Bitcoin's price up.
According to my views on the stablecoin liquidity, the Bitcoin price should target the $72k level.
Let me know your thoughts!
BITSTAMP:BTCUSD CRYPTOCAP:USDT CRYPTOCAP:BTC
CRACKS ARE FORMING IN USDT DOMINANCE! THE END IS NEAR!USDT has completely dominated the stablecoin market for a long time now, but cracks are beginning to form in its foundation that could cause the whole structure to come crashing down. People are losing trust in USDT, even though the vast majority of trading platforms use it as the sole medium of exchange on their platforms. Competitors are turning up the heat in this market, and companies like Circle (USDC), which are fully audited, as well as newcomers like Ripple's RLUSD, could pose a serious challenge to USDT if it doesn't prove its reserves through regular audits and restore investor confidence.
I personally believe that USDT is a Ponzi scheme, similar to the Federal Reserve, which continuously counterfeits dollars by minting excess tokens, with nothing but faith backing them. I also believe that the time of USDT's dominance is coming to a swift end.
Once RLUSD is released and available for purchase to Wall Street and Main Street, I believe that the majority of stablecoin holders will switch from USDT to RLUSD, as Ripple is one of the most transparent and reputable companies within the crypto space. I am one of these people.
Good luck, and don't put all your eggs in one basket!
TAO Bullish Inverse Head & Shoulders: Patience is Key!TAO has been forming a bullish head & shoulders pattern over the last couple of months. The pattern is still not complete, so be patient for it to complete.
If you're confident that this pattern will play out and the market will reverse, take a look at the higher risk trade I put on the right. Tighter stop, so higher potential profit!
ID: Best Entry Is Here! Swing Trader's DreamThis analysis is a follow-up on my previous ID post.
As of this week, ID has successfully touched the bottom support and reversed from it. Too early to tell whether this is a long-term bottom, but at least the support held strong.
If you were ever considering to buy ID, this is the time.
ATOM: Signaling Further Market Decline?In this analysis I want to take a closer look at the state of the market. ATOM Was a decent performing token in the previous cycle, but it sadly failed to impress investors this cycle.
Most striking is that ATOM is one of the few alts which has actually made a new bear-market low. This token has never entered a bullish phase like most tokens did and has basically made lower-lows throughout.
This token had a 5B marketcap just a few months ago, so we're seeing some serious money leaving this token. Naturally, there's something going on in the background which amplifies the sell-off, but I'm looking at it as a potential signal that the alt market is currently in a bad spot.
There's a lot of alts that are currently not far away from their bear-market lows. If we see more and more making fresh lows it could be an indication that more selling is yet to come.
BITCOIN USDT PAIR - CUP AND HANDLE PATTERN SPOTTEDCup and Handle Pattern:
The Cup: The chart shows a rounded bottom formation that resembles a cup, often indicative of a longer consolidation period before a breakout.
The Handle: After the cup formation, the price appears to be forming a handle, which is a short-term downtrend before the breakout. The handle often slopes downwards slightly, and once the price breaks out of the handle's resistance line, a significant move upwards can follow.
Key Resistance Level:
The resistance seems to be around the $65,000 - $70,000 level. A breakout above this area would likely indicate a continuation of the previous bullish trend.
Volume Analysis:
The chart shows increasing volume during the cup formation, which is a healthy sign for the bullish pattern. However, it looks like volume has decreased slightly in the handle phase, which is normal for this pattern. An increase in volume during a breakout from the handle would confirm the strength of the upward move.
RSI (Relative Strength Index):
The RSI is currently at 57.21, which is neutral. It indicates there is still room for upward movement before entering overbought territory (above 70). This supports the bullish view if the price breaks out.
Stochastic Oscillator:
The Stochastic indicator shows a value of 61.68 (blue), which is also relatively neutral but trending upward. If the stochastic continues its upward movement, it may suggest a potential entry point for buyers before hitting overbought conditions.
VM Candle Divergences:
The chart uses a custom indicator (VMC Cipher Divergences), which might show some bullish divergence, but it requires confirmation through volume and momentum changes.
Prognosis:
If the handle breakout occurs above the resistance line (~$65,000), the next bullish target would be near previous all-time highs, around $75,000 or higher.
A failure to break the handle's resistance could lead to a short-term pullback to test lower support levels around $50,000.
Market Outlook:
Bullish Case: A successful breakout would lead to a continuation of the uptrend, and the price could target $75,000 - $80,000 in the next phase.
Bearish Case: Failure to break resistance at around $65,000 may lead to a correction back to $50,000 - $45,000, where stronger support lies.
This analysis leans toward a bullish outlook, as the technical pattern suggests a breakout might be imminent. However, monitoring volume and momentum indicators will be key for confirming the next move.
TON: The Perfect Entry For Those Who Missed The Pump!TON has seen some serious volatility as of late. The founder, the CEO of Telegram, recently got arrested in France, which send the token down.
For investors who missed the boat before, this is a great chance to step in. TON has arguably the biggest app for communication behind it, so there's still room for growth once Telegram incorporates TON into it's application on a deeper level.
Looking at the chart, the most logical place to buy would be from the bottom diagonal support. I put the entry at 4$ as a guide, but feel free to move it up or down depending on where the price touches the support level.
BTC Eyes 55K, Red Zone in Sight?GM crypto bro's, it seems the happy weekend is still far away 🗿 with BTC still at risk of another drop. This morning, the Fear and Greed Index is at 29 (Fear), finally moving up a bit after two days in Extreme Fear territory. The Stochastic RSI remains in the oversold area, but a slight uptick might begin tomorrow.
From a price action perspective, BTC might test the nearest level at 55K. However, if it fails to break through, there’s a high chance of a deeper drop. The closest possible red zone is 50K - 48K, and if that breaks too, next station: BTC 44K 💀.
Always hope for the best but prepare for the worst. Let's hope BTC doesn’t dump to 44K 🗿. As always, maintain your risk. That's it for today's crypto update. This is Akki, signing off with one chart. Have a nice day!