Dear my friends,
While Bitcoin (BTC) remains the most well-known cryptocurrency, all eyes are now turning to the upcoming "Altcoin season," with Ethereum (ETH) poised to break out.
To support this claim, let's take a closer look at the price chart of ETH. Firstly, we can see that the price has broken out of a multi-month downtrend line, which is a significant...
I want to see bitcoin around 20,500 ish in order to meet the correction of the price action on its 61.8% Fibonacci retracement.
Weekly RSI is looking good, we are above 30 on today's price. But if you wanted to secure a position. You can buy a small portion of your margin around 21k just make sure to calculate your risk and potential loss because we can't predict...
1- In this section, I want to present you the simplest bitcoin analysis. This analysis consists of only a simple channel that has been with Bitcoin since its inception.
2- In previous analyzes using the Elliott method, we saw that bitcoin could be priced at 30,000 or less.
3- We still believe that ALTSEASON is on its way
Hello, everyone!
I told you in the previous analysis (link in the description) that the Bitcoin is probably following the Accumulation pattern. Based on this theory I want to suppose that before the change in the trend direction we need to see the true divergence with MACD – the strongest TA signal, which gave the short signal on $65000.
The price on the daily...
For those who don't know, btc.d shows if the money is flowing into BTC or into Alts. When it's dumping, we get epic alt seasons, when it's pumping, alts, for the most part, get destroyed.
Keep in mind this doesn't predict if Btc itself is pumping or dumping. But right now, it's looking like the BTC show is about to take off. Keep this in mind when looking for alt...
• 95% circulating supply (big yes). The majority of it(Over 60%) is with holders.
• Good community following and engagement
• 38m market cap in a growing space. Rank #586. If it makes the top 100 which is very much possible, will have a market cap of about 800m.
800/38= 21X. That's 21x given similar market conditions.
• Low commission, gasless, multichain NFT...
It is moon time for SXP to get on the flight. But should look at the moves BTC it is not sure that we are going up it can go around 47,5 so trade according to it.
In this technical analysis, it shows hidden divergence in 4 hours time frame. Fair enough to indicate a good sign of correction.
One thing is the falling wedge pattern from the top before the dump.
BUT. Bear momentum is very strong, it might invalidate anytime and it could break the parabolic structure.
If 41k level doesn't break, i want to see a consolidation...
EOS/BTC
We are setting a momentum long order for EOS. It has tested this resistance again and every time it tests this it will get weaker. Our Order is placed so that if EOS wicks up it shouldn't wick is into the order and trade lower although this is still a possibility.
Pros for this trade:
EOS is at a very low price and we are attempting a trend reversal...
Alt-coins definitely not feeling any love, could be make or break for them, watching this chart closely and if it corrects downwards, and the long term downtrend continues, they may see some serious gains. A good strategy might even be to buy alts and wait. Not trading my BTC for alts though, too dangerous at this point in the game. Only looking to sell some ALTS...
My friends,
Could we see something good next weeks?
Yes we have a chance, bitcoin can be now in the middle of abc correction...if so, we will see more red on btc. Well, this is a good information for the alts, some capital should came here and more positive colour will appear.
See you soon
