FieryTrading

FieryTrading

As Bitcoin seems to be unstoppable, it's time to take a fresh look at the current bull-run (read: the period after the low) and compare it to previous bull-runs. Against my expectations, Bitcoin is outperforming both the 2018 and 2015 bull-runs. Most notable is the 2015 bull-run because it took us from ~150$ to ~20.000$. Keep in mind that the 2018 bull-run also...

FieryTrading

Bitcoin has been performing extremely well over the last two weeks. In previous analyses I wrote that I expected the ETF to be a longer-term top. We dropped over 20%, but I expected we would drop to the 35k-30k area. Yet here we are, retesting the pre-ETF launch resistance merely a month later. As of now, it's more likely than not that BTC will make new highs...

FieryTrading

After 6 weeks of bearish price action, ADA has broken out of a bearish triangle pattern. Boosted by Bitcoin's bullish move, investors are flocking to ADA and are potentially pushing it back to the December 2023 highs. In order to optimize the risk-reward, we're keeping the SL relatively close.

FieryTrading

I've been looking at this inverse head & shoulders pattern for a couple of weeks now. Now that PEPE has reached the bottom purple support area, it might be the perfect time for a long-term entry. Ideally, we wait for the price to confirm the pattern and break through the neck-line first. However, an entry from around the purple support has a higher risk-reward ratio.

FieryTrading

In this analysis I'm going to make the assumption that WLD is trading in a parallel channel in order to construct a trade with a very high risk-reward. Remains to be seen whether WLD is actually going to trade like this, but the trade allows us to take riskier bets with a high pay out potential. The fact that WLD is a relatively young coin makes me believe that...

FieryTrading Updated 

Bitcoin has seen some extremely low volatility over the last couple of days. Every time that the indicator flashed green (low volatility), a big move in price was coming rather sooner than later. Over the last year, most of the low-volatility-alerts have signaled a bullish move. Only in July and August it preceded a bearish move. Something will happen, but it...

FieryTrading

I've been keeping a close eye on APE ever since it launched. It has seen a massive sell-off after the initial launch on Binance, but has potentially stabilized. As seen on the chart, APE has been forming a long-term falling wedge. In my view, this falling wedge (with a 95% sell-off) could potentially be the slingshot idea that APE has been waiting for. Key...

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With the FOMC practically concluded, the market is reacting with a strong sell-off in both crypto and stocks. The FED has announced to keep their interest rate stable for the 4th time in a row, as it wants to see a stronger reduction in inflation before cutting rates. Higher rates for longer, the market doesn't like that. As seen on the chart, BTC is trading in...

FieryTrading

Ever since the ETF I've been dominantly bearish on the market. My expectation was that the ETF would be a longer-term top. However, the short-term looks quite bullish. If TOTAL3 (total altcoin marketcap) can break out of this bull-flag pattern, this could signal a continuation of the bullish trend. I'm still wary. However, if the market can prove that a...

FieryTrading

With the halving coming up, everyone is looking at when BTC will start the next bull-run. Personally, I think that it's more likely than not that BTC will continue to trade bearish due to the recent ETF launch. However, there's definitely light at the end of the tunnel. The bottom yellow support would be the perfect area for a long-term BTC entry to ride the...

FieryTrading

As per Cantors Fitzgerald's analysis that came out a couple of days ago, most big Bitcoin mining companies are deemed to be unprofitable after the April 2024 halving. Why is this important? Well, if the bigges miners in the world are mostly 'producing' at a loss, they can do either of two things: (1) Sell their tokens at a loss to recoup immediate costs (in case...

FieryTrading

Although I've been generally bearish on Bitcoin after the ETF, I have to play with the cards that the market dealer gives me. For AVAX, that means that this token is under way of breaking out of a big bull-flag pattern that has been shaping up since halfway December. In case the 3D candle closes above the top resistance, it could very well indicate that further...

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ATOM has been trading in a bearish triangle pattern for almost two years at this point. The pattern is clearly drawn between the yellow area of support and the purple diagonal resistance. After the most recent rejection of the resistance, I'm waiting for the price to reach the yellow area again. The yellow area will most likely function as a long-term bottom...

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Yesterday we saw the BTC bulls put up a show with over 5% gains over the course of the day. Personally, I was not expecting such a bullish day to happen anytime soon. Part of the explanation is the oversold RSI on higher time frames for the first time in months, combined with shorts getting liquidated. For now, I'm still not convinced that the bulls have the...

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SOL saw a crazy move over the last few months, which took the price from 18$ all the way to 125$. Since then, the price has not really seen any meaningful correction. In my view, there's a risk that SOL can go down further and retest the bottom support of the parallel channel. I've stated before that I expect BTC to further correct after the ETF was launched....

FieryTrading

After a relatively big sell-off, BTC is currently bouncing from very oversold levels. Yesterday marked the first time since August that the 8H timeframe hit oversold on the RSI, so a bounce was to be expected. Bitcoin is currently on its way to retest the critical purple area of support as resistance. A rejection from here would confirm the break of 40k, with a...

FieryTrading Updated 

In my recent analyses I've written several times that I expected the ETF launch to be a major top, which has played out perfectly thus far. Furthermore, I indicated that the 41.2k-40k range as a major area of support for Bitcoin. As of now, BTC is making a lot of effort to penetrate said support. In case BTC doesn't reverse from here, we're going to see a...

FieryTrading Updated 

After yesterday's false start, Bitcoin's long anticipated ETF is finally here. However, it remains to be seen whether this ETF approval will be bullish or not. In the long-term, definitely. Price action over the next few weeks/months is likely bearish. As mentioned before, I'm expecting a short swift pump towards 48,000$ before hitting two major resistances and...