Technical: Our target at 2.18 USD has been reached and price overextended to 2.7 USD. Right now we are witnessing a huge sell-off (-40% at peak), mainly triggered by a chain reaction of margin longs being liquidated. At the moment we are finding support at the prior resistance line around 1.9 USD. BB Mid is at 1.88 enhancing this level. From here on I am placing...
Our strong demand zone at 1 - 1.2 USD held while MACD on the daily is about to turn green. Iota is picking up momentum to the upside while the entire crypto market cap is decreasing. Once Bitcoin finds its bottom or bounces back up again, I think FIB 1.62 (2.18 USD) is feasible for Iota within the coming weeks. The progress of the Iota Ecosystem is astounding....
Bitcoin has been experiencing some downward pressure, but is finding support at the 43-45k USD level. The recent price action formed a falling wedge with 3 consecutive lower lows while RSI is rising (bullish divergence). I am looking for a nice setup to ride back up with profit taking from FIB 0.62 at 52k USD. The money printer goes brrr for the next stimulus to...
Cardano has experienced a lot of attention lately. In comparison to Ethereum it already operates on a functioning PoS level with considerably less fees. From a technical perspective, there is a lot of potential to move further to the upside. We have a lot of volume coming in and right now we are touching the upper band of the channel (only one excess to 1.2 USD)....
Finally, the long-term holding of IOTA started to bear fruit. IOTA broke out of its accumulation phase and gained around 275% (0.42 to 1.6) since it has gone parabolic. Fundamentally, due to strong partnerships and Chrysalis part 2 soon-to-be released on the main-net, IOTA is becoming production ready with more and more use-cases emerging. Currently, many networks...
Yesterday we have witnessed a gravestone doji indicating strong bearish momentum and further downside pressure. On the DMI we can see that the trend strength is changing from bullish to bearish. RSI is crossing again which could indicate that it potentially continues to go lower. If the support at 30k does not hold, it might go to 24k or 20k. At these levels we...
The pressure to the downside is still continuing. I am aiming to place a short at the top line of the wedge, when another leg occurs or the break-out of the wedge to the downside is confirmed. Buying power at 30k is high and I expect another bounce from there in the short-term. SHORT Entry: 36.4k SL: 38.1k TP1: 32.9k TP2: 30.5k RR- Ratio: 4
On the 1-hourly we are extremely oversold. I am looking for a retracement to the 0.62 FIB. LONG Entry: 34.6k SL: 33.3 TP1: 36.6 (0.5 FIB) TP2: 37.4 (0.62 FIB)
We had HH with lower volume forming a wedge. This broke to the downside and was re-tested. The downtrend now continues which could go down to FIB 0.618 at 20.5k. Many buyers should be sitting at the 18k-20k area providing a solid support.
BTC formed a flag which it just broke to the downside. This indicates in most cases a continuation move. Entry: 18300 TP1: 17660 TP2: 17360 SL: 18510 This is no trading advice. Good luck!
Looking at the weekly TF chart, we can see that Bitcoin went parabolic and broke out to the upside of its previous growth channel. Once parabolic moves to the upside end, they tend to act equally to the downside. I don't want to suggest to short at this moment, but once the trend shifts, we could have 2 potential targets for the weekly retracements: The first...
Bitcoin has been consolidating for a few days now, forming a triangle. Filtering all the noise and fancy analysis I think it is a great opportunity to trade the confirmation of the break-out in either direction. The downside offers more potential towards the next strong resistance. LONG: RR-Ratio 3.7 SHORT: RR-Ratio 4.7 This is not a trading advice.
Right now we can see ETH/BTC reversing, which would mean additional gains for ETH, if BTC follows its uptrend. On this chart (ETH/USD) you can see that the break-out is near with decent volume coming in. If you are not holding, but trading, I assume a Long from a clear break-out at 501 should make sense. A tight stop can prevent any unexpected downside...
We were trying to take a short and closed it on the reversal to 16k. Instead of trying to call the top, I guess it is the best to follow the popular "the trend is your friend". Bears managed to break the triangle to the downside, but got caught up and with volume we are moving to the upside. I managed to open an attractive long position at 17.7k and look to take...
In my previous analysis we were looking for a momentum shift to open a short. This did not happen and Bitcoin managed to climb even higher. However, now I took pretty confidently a short as volume and momentum of wave 5 is much lower. ROC (Rate of Change) is giving a good impression of the relative acceleration or in this case since wave 3 completed, a...
We are currently retesting the top side of the triangle at 13350€. Waiting for a confirmation above 13400€ with sufficient volume to open a LONG position. This break-out could lead to a continuation move to 14400€. If we break to the downside, we will have to re-evaluate the situation. Good luck! And of course, this is not a trading advice.
Mid-term: I think we are completing wave 5 according to Elliot Wave. Waiting for a confirmation of momentum shift to open a short. The volume on big timeframes is still declining. Long-term: From a long-term perspective, bullish megaphone should provide strong support. Short positioning: Open: ~ 15k Close: ~ 12.6k Taking profits along the way is wise. Of...
We are approaching a support for ETH at 0.028 and sell pressure is losing steam according to MACD and Stoch RSI. Taking a long here with a target of 0.032 which would align with the 0.5 Fib if this is considered the local bottom. Depending on the momentum we can go back to the local high at 0.04.