It appears that Bitcoin is finishing Wave 4 and moving into Wave 5. This should take Bitcoin to $25k - $29k. I also applied a Fibonacci Circle to Wave 3. Accordingly, Bitcoin is approaching the 1.618 Fibonacci circle pivot point (the blue circle). There's very strong support at $22.8k. Looking for a bounce here.
At $1.36, CRV is touching its long-term uptrend and the 0.386 retracement level from its local uptrend. It looks like CRV is beginning Wave 3 of Wave 5. This should take CRV to the next major resistance point at $1.70. Time to long!
Large-cap altcoins (such as BNB) have outperformed Bitcoin since the June 18th capitulation bottom. We are currently right in the middle of altcoin season , and it appears that the market is moving in WAVE 3 of an Elliott wave structure. By projecting from Wave 1, I expect BNB will move to somewhere between $350 - $420 over the coming weeks.
Bitcoin appears to be targeting $25k. The uptrend going forward may be powered by decreasing inflation and an increasingly dovish Fed. The only thing that really matters for the markets in the short-term is whether things are getting BETTER or WORSE and how much of those changes are already priced in.
We believe the Federal Reserve began a brief and powerful altcoin season with the recent FOMC meeting on Wednesday (7/27). As a result, we expect altcoins to perform well until the next FOMC meeting on September 20th. Bitcoin Cash is currently hitting fractal support, and the MACD + Awesome Oscillator look bullish. We're looking to capture a move to $193.
DOT is looking super bullish, currently breaking a seven-month downtrend. The MACD (momentum indicator) is breaking 0, with solid support at $6. First Fibonacci fractal resistance is at $8.73. At >80% down from its high, there's massive upside room for DOT‼️
Recent price action for UNI leads us to believe the cryptocurrency market is pricing in rate cuts now . Cryptocurrency and bond markets are very forward thinking . Therefore, it seems that crypto prices are looking beyond July's expected 100 bp rate hike, and extrapolating that this means the Fed will have to cut rates during the second half of...
MATIC is moving in a strong upward sloping channel. Resistance currently sits at $0.743.
Ethereum recently finally broke through its 0.382 retracement resistance level at $1230. Accordingly, the next stop is the 0.618 retracement at $1450. With the current momentum, we expect ETH to overshoot this price to reach a peak between $1450 and $1550.
The recent bullish momentum in the cryptocurrency market has powered MATIC to break above its $0.68 - $0.62 resistance range. We expect MATIC to retest this resistance soon. If it doesn't fall through, we believe MATIC can gap up to $1.00. Are you having trouble with technical analysis? Investors can utilize automated with TrendSpider below: trendspider.com
We're short ETH with a tight stop loss at just below $1,100. If this resistance breaks, then we believe Ethereum can go to $1,200.
The Williams Alligator moving averages have fanned open, indicative of strong bearish momentum. Looking at the chart, there is a likelihood that BCH (and all other cryptocurrencies) are about to gap lower. If this occurs, we're looking to short BCH down to $64.
Ethereum recently broke its impulsive upward sloping channel that began on July 4th. However, the uptrend from Ethereum's June 18th $880 bottom is still intact. As a result, we expect ETH to bounce from the 0.382 or 0.618 retracement levels. Whether this bounce will power a further long-term uptrend is up for debate. Considering Ethereum's double top...
SOL is presently battling its $38 resistance level. If SOL successfully surpasses this level, expect clear skies until $42.
It looks like BNB's bullish impulsive movement is complete. We expect a move to $200, which should act as the next support level.
Bitcoin is reaching maximum compression as it moves closer to the crux of its triangle formation. $19,100 is support. If this breaks, this can trigger a more significant down move to $17.5k, $15k, or $13.7k. $20,800 is resistance. If this breaks, expect the 0.382 ($22,900) and 0.618 ($26,200) Fibonacci retracements to act as resistance.
The above waves show how we're monitoring Chainlink's long-term bear trend. We're looking to accumulate LINK below $3.00. We also expect the current triangle formation to result in a break to the downside.
A break below $19.2k can trigger a more significant down move to $17.5k - $15k.