Its no secret that Bitcoin and Ethereum are the most well known cryptocurrency out there and are leading the way for other, newer cryptocurrencies. Bitcoin acts as an index for all cryptocoins - if Bitcoin goes up, all crypto goes up. If Bitcoin goes down, all crypto goes down. We can use this to find the reversal zones for all the other cryptocurrencies. From...
Ethereum is showing us a very VERY similar pattern to Bitcoin. Bitcoins has a strong support level at 30k which may be the reversal zone. We're not too far off and similarly, we're not too far off from Ethereums strong support level at 1700. Once Ethereum and Bitcoin find their bottom, we can correlate it with the entire crypto market and look for buying...
Late last year, we posted a Ripple analysis with the view that we will be reaching the 0.55 level. We have finally reached that level after a drop of almost 40% from our last analysis! Now that we're at the bottom, what next? We need to see if this level holds. As Ethereum and Bitcoin have not quite bottomed out, XRP can still sit at this level until the others...
Ever since Novembers high, Solana has been on a massive bearish wave. An indication that the bearish wave was coming was the daily divergence. Since the bearish wave has started, we can see a number of impulses (in light blue) and corrections leading lower and lower. Question now is: how low can Solana go? A good way to call the bottom is by looking at the other...
What is Divergence? Divergence indicates to us that a trend is losing momentum and could be ready for a reversal or a deeper correction soon. When we see divergence, we should stop trading in the direction of the trend and look for countertrend trades. How to identify Divergence? When price is making higher highs, MACD (or RSI) will show lower highs =...
After our last sell setup for Solana hit target, we were looking for buy setups. After the break of the major descending red trendline, we are looking for buy set ups. We can see that we have created a descending correction and hit the 78.6 fibonacci. We can get in with a tight stoploss just below the fib and have major upside targets. Trade Idea: - Watch for...
In our last SOL analysis, we had a short setup that played out perfectly and almost at TP and the -0.27 fibonaci target. We are seeing some bullish price action now so it would be a good idea to close the shorts and look for longs now. Trade Idea: - Watch for bullish candlestick formation such as bullish engulfing - Safe entry would be after the break of the...
In our last Litecoin analysis, we identified the buy zone of $100 where we have many confluences supporting our long term buy idea. We are looking for one more move down and it looks like we may get that as we appear to be in an ABC expanding correction. See below for the lower timeframe analysis: Once we reach the $100. we can look for buys. Goodluck!
Ethereum is showing us some really nice impulse and corrections and appears we are at the bottom of a correction now and ready for the next impulse. Trade Idea: - Enter with stops below the 50 fibonacci (risk entry) - For confirmation, wait for the break of the red descending trendline (safe entry) - Target the recent highs as first target and then the -0.27...
In our last analysis, we were waiting for price to reach the $10 level. We are now there and looking for bullish price action to indicate reversal. We can see that we're in a wedge pattern and looking for a break out of the wedge for confirmation. Trade Idea: - Risk entry = bounce off double bottom - Safe entry = wait for wedge breakout and then enter - stops...
Matic has been in a steady uptrend and we've seen a correction leading to the 61.8 fib and ascending trendline twice before. We are now seeing the same setup for a third time! Trade idea: - Watch for bounce off the trendline and 61.8 fibonacci - enter with stops below the trendline - Target the -0.27 fibonacci See below for our last 2 Matic analysis:
Stellar is approaching a very interesting level where we may see a breakout or we may reject for the final time to reach our ideal buy area of 0.20. SHORT Trade idea: - Watch for lower timeframe trendline break - Enter with stops above recent high - target the 0.20 Breakout Trade Idea: - Watch for a break of the descending black trendline - Wait for a...
After our last FLM analysis, price broke out but then came back down to revisit the bottom. We can see that we're in yet another descending correction which could lead to a break to the upside. We saw a similar pattern happen on Bitcoin last year, which broke to the upside to create new ATH's. See below: Trade Idea: - Watch for break of the descending...
In our last analysis, we identified 2 areas where Kadena can reverse from. Our first level failed to hold and so now we are looking at the -0.27 fibonacci level. For confirmation, we can wait for daily bullish candle and to go further, we can wait for the break of the descending trendline to confirm reversal. The key level to look at is the 3-4 area where we're...
We have a great opportunity for short term trades for Polkadot with very minimal risk. We have both a buy setup and sell setup. Buy Setup: - Watch for a break of the red descending trendline - Enter with stops below the recent rejection - Target the -0.618 fibonacci Sell Setup: - When we get to the -0.618 level, watch for rejection - Enter on rejection with...
ChainLink recent gave us an ascending correction which indicated to us that there's a correction coming for more upside or a reversal. In this case we saw a correction in the for of a descending ABC channel, which is currently showing rejection at the 618 fibonacci level. Trade Idea: - Watch for a break of the descending red trendline for entry - Put SL below...
Avax broke out once it reached our structure level at 80. We are now seeing an ABC correction for another move higher. Trade Idea: - Watch for break of descending red trendline and enter with stops below the recent lows - Risk entry would be now with stops below the 618 fibonacci - Take your positions off at each of the fib levels: 0, -0.27 and 0.618 Goodluck!
AMP is approaching a level where we can either reject or breakout. If we do reject this level, the -0.27 fibonacci level would be next best place to look for buys. There's 3 ways you can trade this. 1. Breakout trade. Once price breaks the descending trendline, enter with stops below the lows 2. Short rejection trade. If price rejects the descending trendline...