ADA has bled 57% against ETH since 29-August. With so much luster lost, a push through would need to be strongly proven here. Not financial advice. I do admit to holding some ADA (that I have not sold in favor of ETH). Please #DYOR.
Quite a bit of profit taking here as the distribution similarities to earlier this year continue to play out. (See my prior idea.) I am still in this trade unless we see a hard pull back but the lower trendline at around 63k seems to be (just like the prior pattern) the home base we return to prior to pushing up higher. Obviously not financial advice. You should...
No real surprises. Zig zag up we go. Down today, up, down, up. We'll keep an eye out for dropping out of this channel to signal any real significant pullback. My charts are for educational purposes only. #NFA #DYOR bla bla bla
This is not a prediction, just a what-if scenario echoing Jan-May 2021. Yes we are seeing continued large institutional / whale adoption. No we are not yet seeing retail FOMO yet. Much of the retail money is speculating on alts, and frustratingly getting wiped out on leveraged trades. Shiba is the new Doge. Everyone is looking now for the next Shiba. I'm just...
FWIW, I'm simply trying to put some boundaries around my Solana bag so I can work on a 'what if' Solana has seen its 10x and is simply going to 3x from here. Maybe an upward channel doesn't even make sense but at least we should know this week whether we pull back and consolidate.
Some of you who are much more technical than I can point out that a rising wedge is formed along with a diverging volumetric trend. However it seems the recent alt breakout led by Solana and others have invalidated the rising wedge? I'm watching this one to see whether we continue this pattern.
Just briefly my perspective is following yesterday's euphoria, reality that people do take profit. I am optimistically seeking a bounce from this level. However it is also possible we re-test lower. Not financial advice. DYOR for fun and profit.
On the news that GBTC was discounted up to 20%, many buyers came in yesterday. But is usually the case with FOMO, the next day BTC took a breather and buyers quickly turned to sellers. Clearing this area of resistance will be difficult as the next one up will be the fund's ATH. You can clearly see the hours-long retracements on our current up-trend. We should be...
Complete dubious speculation. Obviously Bitcoin is on a roll. I am a perma-bull so take this for what it's worth. The way that we have walked into our ATH is very similar to last February. Whether or not we continue to the moon from here without stopping, that is the question. Last February I had high hopium only to see Bitcoin fade in March. As we are all now...
Are we oversold? Can Ethereum catch up? Not at all financial advise - just my 2c. Obviously Ethereum let Bitcoin run on Oct 3 and Bitcoin has only just now taken a breather. I would assume that if we are don't see progress soon, Bitcoin will say 'see you later' and Solana will take advantage. If Eth continues dropping down below the long red upward trend...
Complete conjecture. Not financial advice. If Bitcoin holds up this week, we could be at 44-45 where we have had difficulty holding previously. Looking back, the 50-day EMA and a fib I’ve drawn out intersected at an area we ultimately failed to hold. This could be coming soon. If it does appear we are having some difficulty there I am setting a stop to protect...
Pure conjecture. Not financial advise. We are nearing what I believe to be a confirmation or else a culmination of a long downtrend this week. We weren’t able to hold a breakout on September 7 after a strong rally off the July 20 low. Unfortunately since September we’ve lost momentum to other alts. So far we have been consolidating as investors grow tired of...
Complete conjecture. Not financial advise. I highlighted an area at January 2021 where we had a pullback and then a very strong push up into March. At that time, we hit ~58 and pulled back to ~44. The difference here is that we crossed over the 50 Day EMA recently where we did not in January. However the same areas of resistance exist and in a time that the...
Simply an interesting point of view to consider. Not financial advice, just a discussion point here while it is appropriate. Our current level matches wick down at Ethereum's peak timeframe. I am mapping out the 50-period EMA. Top chart is 50-day and obviously bottom charted calculated at the 50-period (3-hr view). The Puell Multiple chart...
One thing I've learned over this last year is that as soon as everyone is believing we are going to continue higher, we pull back. And vice versa. Were the calls for a Bitcoin 'flippening' an indication of over-exuberance and obvious signs of a local top (which so far has been the case)? From here this could play out two ways IMHO. If the financial market can...
The daily chart almost completely obscures the market correction. Interesting. Not enough information at this point to make an opinion about where it goes from here, other than we are hitting an area of resistance with ATH above. I have Algo stashed somewhere collecting %. Like remembering you have something in your closet but you don't quite remember where you...
Someone is accumulating now on a monthly schedule, which has driven Grayscale Litecoin trust up 20%+ today. Prior, this has been a time for some to pull out but that is the worst time to sell IMHO. If you are underwater, and somebody is putting big money in, then again IMHO you should consider adding to your position. Obviously a great deal of risk but at a 20-30x...
Seems like we have a fairly well-defined consolidation pattern here at the moment with a 47k support area. Money moved from ETC to BTC and now to SOL - as investors look for an elevator ride. :-) Downside risk is still in the 44k area.