Basically we made a high on parabolic run
this became resistance and was deviated in a 'fake-out'
ranging continued since and it closes thorugh the resistance it is likely to continue to pump af
Could DCA here betting on continuation to range highs and then to targets if it breaks
I haven't as BTC isn't out of the woods yet and it continues lower then this will too
From the big correction that happened after the Elon-demic at SNL, we have retested the major trendline and broke out of the descending correction. It looks like we're in a bullish correction at the moment where we can look for a breakout and target the highs.
Litecoin looks to be correcting now and we have 2 areas of interest where it would be the best place to buy.
First area of interest:
-78.6% fibonacci where the 100EMA converges with the fib
Second Area of Interest:
Major Trendline support where we have the 200EMA
First target would be $400 level.
Welcome to a new market update.
BTC made a huge dip after the tweet of Elon Musk.
I personally don't care that Tesla doesn't accept Bitcoin anymore.
Elon says nonsense and manipulates everybody.
Elon says nonsense but we must be thankful. You need to buy dips like this. The altcoin prices were big blessings.
After the dip I noticed something nicely....
We looked at Dogecoin (DOGEUSD) on the daily timeframe; many bearish signals starting to develop.
Today, we are going to be looking at the 4h timeframe where we can gain additional information as to what is going on with this market/pair.
First, we notice how DOGEUSD went to test EMA200 as support after breaking below EMA100 back in April.
This same scenario...
Litecoin has had one the best bullish price action. You can see that it has created clear bull flags and clear rejection of key levels.
Watch for bull flags on smaller timeframe and keep buying until the inner trendline is broken.
Our previous analysis played out for BCHUSDT PERFECTLY. We were expecting a rejection of the previous high after a breakout and we got a wick rejection! Price looks to be in a parallel bull flag for another move higher. Next area of interest is the 1836 level where price previously reacted. When we get there, we will reanalyse and update you all.
The last time we analysed BNB, we had that major trendline in place so that if we price approached it, we would look for buys. Price rejected the major trendline with a wick rejection and bounced up aggressively! We had several bull flags leading higher and higher. Watch for more bull flags and breakouts to take this even higher!
The white house did a press conference today talking about the "cyber attack" on the colonial pipeline.
They said that the "Hackers" are using virtual currencies to fund there "attacks" and that the US Treasury has created a task force called financial action taskforce to tackle these virtual currencies.
Expect some FUD coming into the space on a government...
You can see that the ascending correction we had recently is almost exactly the same as the one we had previously. Price broke down out of the correction and retested and made its way to the trendline for another move up. Could we get that this time round?
Be careful, all the pumping has a correction !
I think it's time to correct at two zones that I determined !
In fibo channel has resistance around 4250 !
So do not be greedy and if you are in profit, make a small save in this range.
now it's not a good time for buying at this price and I suggest you wait until the price of 2900 to hunt this valuable coin
ADA looks to be on the third wave of the bull run. Looking to see how price reacts on the minor trendline for a move higher. If we don't get a bounce, watch for the major ascending trendline support.
Goodluck and Trade safe!