NewThoughtCrypto

NewThoughtCrypto Updated 

Kaspa formed an Inverse Head and Shoulders. Today (Nov. 4th) it broke above the neckline to form a new ATH. The immediate target is 6.6 cents. However, we are at price discovery and the potential is much higher. My advice: Don’t buy the breakout; buy the retest. Trade idea: Entry: 0.053 (neckline) SL: 0.049 (Right shoulder and local support). Target: 0.066 R:...

NewThoughtCrypto Updated 

Background: Since May 2022, Link is in an accumulation range. The range low is at 5.44. The range high is at 9.44. I consider the deviation below the range low in July as a Wyckoff Spring event. IMO, Link’s breakout is dependent on Bitcoin’s PA. Meaning, that If Bitcoin fails to break above 31.85K, Link will fail too. Price Pattern: It looks as if Link is...

NewThoughtCrypto Updated 

Since the last impulse and high of 9.3 cents on August 4th, 2023, XDC was in a correction. XDC retraced to 0.618 fib level, which is also a S/R level and the 200D EMA. It looks like XDC found support and it is gearing up for another impulse up. My overall target for this leg up is between 10.33 cents to 11.09 cents. A breakout above the 50D EMA and a retest...

NewThoughtCrypto Updated 

• Since May of 2022, XRP has been trading in a range, Between 0.31 – 0.55 cents. • XRP’s PA is highly correlated to Bitcoin (Correlation Coefficient >96%). I think it is safe to assume that if Bitcoin’s uptrend will continue, XRP will break above the range high to recover the July 13th wick (at least). • XRP is above the 200, 50 & 21 Daily EMAs. The EMAs are...

NewThoughtCrypto Updated 

In my previous TV idea, I entertained the bullish case for KAS. While I cannot rule out a bullish breakout, evidence for a double top formation and a consequent drop is piling up. Pros: 1. Kaspa is holding above the 21D & 50D EMAs. As long as the daily TF is bullish, I cannot rule out continuation to the upside. Cons: 1. Although Kaspa made a HH, The RSI was...

NewThoughtCrypto Updated 

TLDR: Out of the seven conditions for a bullish bias, we can consider: 3/7: Fulfilled. 3/7: Partially Fulfilled. 1/7: Not Fulfilled. The bulls can begin to feel optimistic but don’t bet the farm on Bitcoin, yet. The Importance of Bias: Determining a bias, bullish or bearish is a prerequisite before placing a trade. Simply, when an asset is in an uptrend,...

NewThoughtCrypto Updated 

TRB broke below the support trendline of the Rising Broadening Wedge. The 21D EMA and the weekly S/R level at 46.7 is still holding Tellor’s price. As long as these support levels hold it could still try for higher. If TRB drops below these supports, it could retrace most or all of its gains. Wait for a retest of the 21D EMA as resistance before taking the trade...

NewThoughtCrypto Updated 

Hello Friends. In this TV Idea I will try to sketch out a roadmap for bitcoin in the coming weeks and months. Immediate Support & Resistance: Support: 28.1K – 28.6K Resistance: 29.75K – 30.25K PA: Bitcoin completed a successful breakout of an Ascending Triangle. The breakout target is 31,850. Next Major Milestone: 1. 33K was the Selling Climax point...

NewThoughtCrypto Updated 

Fantom is in a downtrend since February 2023. Fantom’s PA created a descending channel, with the 50D EMA acting as additional resistance. Today (October 23rd), FTM broke out of the channel and formed a bullish ChoCh. Fantom presents a long opportunity. IMO, you should consider the following factors: Pros: 1. FTM is above the 21D & the 50D EMAs. 2. Channel...

NewThoughtCrypto

Hello Friends Bitcoins crossed above the 33K level resistance. It is now within the Redistribution range of the 2022 bear market. The levels I drew on the chart are the same S/R Levels and the relevant Supply Zone. I think this will be our trading range during the rest of the year and in 2024. Bitcoin 2022 Redistribution Range:

NewThoughtCrypto Updated 

TRB Close to a Peak: TRB had an amazing run but, IMO, it is almost at its peak. These are the reasons why: 1. TRB’s impulsive wave up, beginning on August 25th, shaped into a Rising Broadening Wedge. According to Murphy (1999), the Broadening wedge is indicative of a market top. The wide price and volume expansion represents emotional traders. 2. There is a...

NewThoughtCrypto

My premise is that Bitcoin is still in a downtrend. I will reconsider my opinion if Bitcoin gets above the 50D EMA and holds it as support. If Bitcoin gets above 28.5K and holds that level, I will drop my short bias. In a previous Bitcoin idea, I suggested a short trade at 27K based on the confluence of the following: 1. The 200D EMA, at 27K, may act as...

NewThoughtCrypto

ATM, it looks like Kaspa is on the verge of a breakout and a new ATH. First, a word of caution. You should be bearish at resistance. If you want to trade this as a breakout trade, wait for confirmation. Meaning that you should wait for a S/R flip. Regardless, the question is, if Kaspa does break out, ho high can it go? To try and answer the question I will use...

NewThoughtCrypto

My basic premise is that Bitcoin is in the midst of relief rally/ short squeeze. If Bitcoin breaks above 28K and holds support, I will reconsider my opinion. IMO, there is confluence for a short trade between 27K – 27.3K. Possible Short triggers: 1. The 200D EMA, at 27K, may act as resistance. 2. The 50D EMA, at 27,076, may act as resistance. 3. Supply Zone (1H)...

NewThoughtCrypto

1. H&S on the 4H TF 2. The last candle (beginning at 04:00 UTC) depleted the daily demand zone almost completely. 3. The neckline is at 8.13. if UNIFI tests the neckline a resistance, this is your short signal. 4. The 1H and 4H RSI is close to oversold. Therefore, it could bounce up a little bit. 5. Don’t be hasty. Wait for confirmation. Trade Idea: • Entry:...

NewThoughtCrypto

Pros: 1. On August 17th, FET deviated below the range low in an SFP. 2. Since August 17th, it has been making higher highs and higher lows on the daily chart. 3. On September 2nd, the 21D EMA crossed above the 50D EMA and above the 200D EMA. 4. Today (September 3rd), FET breached the range-high at 0.2558. 5. Volume is rising on the green candles and declining on...

NewThoughtCrypto

Looks like it is rejecting from the range high. SL above the 50% of the wick Entry: 2.25 SL: 2.28 Target: 2.07

NewThoughtCrypto

My basic premise is that Bitcoin’s uptrend is over. The question I am asking myself is what the plan is going forward. My premises are: 1. History repeats or rhymes. Meaning past PA is a clue for future PA. IMO, this is especially true if the past PA occurred in parallel time. Meaning the same months. 2. The uptrend will resume close to the Bitcoin halving. ...