Healthy checkback in #CRYPTO markets (So FAR) #SHITPERPCheck back of down channel break
Where do we go?
The August high was a major resistance test and understandable point of inflection.
going forward overcoming this level , in my mind would signal Crypto Spring.
i.e Winter over!
But Spring is not summer... pullbacks and tests of key levels will still occur.
BULLSHITUSD trade ideas
ShitPerp Moon Soon ? Will it rise to the Moon? Can it? The ShitPerp chart is not very long but so far it has maintained about this uptrend, will a big bounce happen, will it go higher than the target ? Is the ShitPerp going to save us all during these hard times ? Is now the time of the ShitPerp ?
Go go Shitperp powers activate ?
SHIT-PERP (Shitcoin index on FTX)The price of Shit-Perp futures is tied to the price of a basket of coins with low market capitalization and uses their weighted average price. One futures - 50 coins!
AE, AION, ARDR, ARPA, BCD, BEAM, BTG, BTM, BTS, BTT, CHZ, CKB, DGB, ELF, ENJ, GNT, GRIN, GT, HBAR, HC, ICX, IOST, KMD, KNC, LAMB, LRC, LSK, MANA, MATIC, MCO, NANO, NPXS, NULS, OMG, POWR, REN, REP, RVN, SC, SNT, STEEM, THETA, TOMO, VSYS, WAVES, XVG, XZC, ZEN, ZIL, ZRX
The Most Logical AnswerOften, The Most Logical Answer Is Also The Right Answer.
This count is easily the most logical. Why? Because it respects the fact that we have a suffering economy and a negative outlook for the future, while still also respecting the fact that many signals are pointing bullish in the short term. Long term, bearish, short term bullish is the tune that the market is playing now. Trap the longs, mess over the shorts, steal all their liquidity, and then send it running down once more.
Happy trading.
Elliott Wave Analysis: ShitCoin Index Is Eyeing July 2021 LowsHello Crypto traders and investors!
We are pretty sure you are wondering when it's time to buy cryptocurrencies again. Well, Cryptos are still trading in a bigger sideways correction, which we see it as an A-B-C flat formation, especially if we take a look on shitcoin index, where we see quite clear Elliott Wave Pattern, called 3-3-5 flat correction.
A 3-3-5 flat correction consists of three waves in leg A, three waves in leg B and five waves in leg C.
As you can see, we have (W)-(X)-(Y) complex structure in wave A, then wave have a three-wave (A)-(B)-(C) corrective recovery in wave B and now we are trading within a bigger ending diagonal pattern for wave C.
The ending diagonal is a special type of wave that occurs in wave 5 of an impulse, or wave C of a correction. This wave often occurs when the preceding move of the trend has gone too far, too fast, and has run out of steam. An ending diagonal pattern is a type of pattern that can occur at the completion of a strong move.
So, what we want to say is that shitcoin index and cryptocurrencies in general can be trading in final stages of a corrective movement, where we are tracking final wave (5) of C, which will ideally retest July 2021 lows and then we will expect real bulls to show up.
Be humble and trade smart!
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Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
"ides of March"Over the last one and half year, the triangle pattern for the shitcoins are still valid. It ends at "ides of March" in 2022.
According to books, the upper breakout has a bigger chance.
But, let's wait and we will see.
It is not a financial advise, just drawing some lines to a chart
HODL!
The Dreaded Fib Circle DumpThis ticker is BULLSHITUSD
It shows two clear dumps along the side of separate fib levels
I'm not too sure why this happens but it seems to be a key feature among price movement within and around the circle
Perhaps the price is attracted to the fib level above it? (e.g 1.618 is above 2.618) causing a dump along the side of it? I make this assumption due to the sticky nature of price along the fib levels
Another Absurd Gaussian ChannelThe recent drop has caused this expansion of the channel
What will be the repercussions?
This pair consists mainly of low cap altcoins, we may see huge growth in low cap altcoins soon,
I assume this because the channel is extremely stretched and has extreme room to move
An alternative scenario is we see the death of some low cap alt coins
Its one extreme or the other.
SHITPERP ideaSeems a bottom is trying to form right above a previous channel that had been broken out from
This is the index for altcoins
Hopefully this acts as a point that will hodl and provide us a bottom to lead forward
It does seem that the market is quite confused right now,
the way I see it is buy as many dips as you can (if you have the capital)
I really doubt the bull run is over
I am long some altcoins, hence my long position on this post