New thread for Bitcoin watch. Better art style. Despite the last bearish craze, I believe we are still in a good shape here.
But a crash may be first. Another crazy scenario of mine about the crypto market. I believe we might be looking at a redistribution range after the giant distribution range. And this is a potential outcome. Make this range an accumulation range and go.
I think we are approaching a critical FOMC meeting. DXY does give you the feeling of an Eiffel Tower. But it's up to the FED in the end.
New thread for me to watch Ethereum. Previous view was boring. Better art style.
This is just another representation of my macro view on crypto. Everything is on the chart. In my opinion, $530B-$580B market cap might be a very important bottom for this bear market. Potentially 'the bottom' for the next crazy bull market. But since my theory is that this can be a redistribution, I have to ask 'What is the worst case?' The COVID dip.
I'm looking for hedge longs on alts. EGLD is one of my favorites. -> Very nice rounding bottom (potentially a spring). -> Clear resistance and support. -> Clear target.
This is a follow-up idea for my broadening wedge idea about LTC. I think it's coming to test this parabolic trend and I believe that test will be really important.
My crazy fantasies about Bitcoin. This is just a draft. I will work more on it later.
Crypto total chart has 2 contradicting structures. Descending triangles are bearish and often leads to crashes. The falling wedge correlates with Bitcoin's falling wedge that is just broken out. Ethereum on the other hand has a descending triangle. We'll see the market's decision soon.
This is a huge falling wedge that is pointing to a crazy support level. We have a nice trade range on the daily chart. Imagine breaking the range down but finding support near that crazy support level. If you want to buy a coin soon, ALGO might be a good choice. Buy the support level or the breakout. It doesn't really matter. Potential reward is crazy.
I don't think this is the bottom but I thought "What would make me bullish about this setup without making a new low?" This is what I can come up with. I'd long this 100%.
My opinions about similarity with 2019 and interactions with 200-week Moving Average. Everything is on the chart. My conclusion is that we have fundamental differences. We can test it soon since it's close enough but I don't think Bitcoin can maintain an uptrend above that in 2023.
Ethereum has a clear parabolic trend. A certain RSI level is always defended for some time. Pay attention for the first sign of weakness here. Parabolic trends are known to end with strong moves. They very often lead to distribution tops.
Another view for Bitcoin . The structure in test is some kind of bear flag . If it can, invalidating a bear flag is a good thing. As long as it doesn't get rejected from macro correction levels.
I know it's a complete shitcoin and you shouldn't trade it bla bla . But I kinda like how it looks :D I just got a small long from 0.00333. I will watch it for a while.
Just questions. What does BNB chart tell us? Do we have a bullish argument about the chart?
It's a common bearish pattern. Algo played it perfectly. Time will tell.
This is a possible accumulation scenario for Bitcoin. Checkout my accumulation idea to see my detailed opinions about all of this. Disclaimer: I'm bearish about Bitcoin at the moment.