bitcoin 8h overview of key s/r levels tp 23 000 usd🔸previously recommended shorting BTCUSD / short selling rips/rallies. Since August
not much progress, we are stuck near 26/27k with extreme low volatility conditions.
🔸Bitcoin remains prone to further losses, since bulls failed to break overhead
resistance near 28 000 usd, expecting limited upside beyond golden pocket level
and therefore recommend to short selling rips/rallies near golden pocket.
🔸The price structure on the chart is weak we got a weak bounce off key s/r
near 25 300 usd, however not much progress therefore expecting more losses
and bears will likely take over soon. fresh overhead supply at 28 400 usd, bears
will immediately target re-test of recent lows near 25 300 usd and subsequently
after breakdown of key s/r level will hunt stops near 23 500 usd.
🔸Recommended strategy bears: focus on short selling rips/rallies near golden pocket,
TP1 bears is 25 300 usd TP2 bears is 23 600 usd. good luck traders!
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RISK DISCLAIMER:
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Past performance is not indicative of future results.
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XRP - Failure as a CryptoCurrency ? Deep Thoughts 💭Hi Traders, Investors and Speculators of Charts📈📉
For those who have been following me here for a while, you'll know that I've always been a notorious fan of XRP.
I used to be a true "believer", #xrparmy and the whole deal. Followed all the XRP pimps (such as BlockchainBacker ) on Twitter back when Twitter was still blue... but recently, I'm starting to develop some serious doubts about the fundamentals of this altcoin. And I'm going to level with you here. These are just my thoughts, and you are still entitled to your own opinions infact we encourage it.
As a trader; I can't help but notice the unusual price action on XRP compared to other coins. Did you know that XRP is one of VERY FEW altcoins / cryptos that has been unable to reclaim it's ATH for years after? Even with the benefit of being one of the first titans in crypto. Other coins have long surpassed their ATH's. But XRP made one high, and never again. This speaks of weakness in terms of value. And that can no longer be ignored.
The unfortunate truth about XRP is that the trading volume is low, and buyers are not keen to buy XRP due to it's ever increasing unpopularity. This directly creates weak support zones and strong resistance zones, as there is little confidence in the coin and bag holders are all waiting for the first best opportunity to sell. Short term traders would rather take losses than hold indefinitely.
XRP has become more and more unpopular over the course of time because of it's "Pump and Dump" price action. The SEC case and the whole controversy about the Taco stand (founders holding millions and dumping on the market) also didn't help.
Don't misunderstand. I will still trade XRP. The big difference in my approach, is the matter of accumulating. I've been accumulating XRP since about forever. And I have decided I will no longer accumulate. Instead, as soon as the price reaches higher than what I bought for, I will be looking to sell my bags. Considering this argument and the fact that I'm probably not alone in this approach, you can see from a trading perspective how dire this outlook is for support and resistance zones.
This is a real pity and hits close to my heart. It's hard to let go of an ideology you've held and defended for years. I really believed in the promise of a coin for institutions, cross border settlements etc. But unfortunately, as a trader, it makes no sense to hold a coin for years, no matter what great promises were made by the creators of Ripple. The truth is, if I bought as much DOGE as I did XRP, my portfolio would have been up x100 compared to now. This is sad, considering that DOGE and many others, like PEPE, are meme coins and hold no real fundamental value. The fact that meme coins do better than a coin " created for banking and large institutions " is a shock. And here's where you have to ask yourself... was it really?
💭So, what's the trading plan from here for XRPUSDT ?
If you must trade it... Buy low, sell high. I'll keep making updates on SHORT and NEAR TERM targets. But LONG term targets are too hard to speculate. Focus on technical indicators and trendlines alone to get price targets. No more fundamental-analysis "value" targets.
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CRYPTOCAP:XRP BINANCE:XRPUSDT BITSTAMP:XRPUSD
Is Elon Musk still rooting for DOGE?Hi Traders, Investors and Speculators of Charts📈📉
Here's a quick plan for DOGE, short term!
Dedicated BUY zones, dedicated SELL zones.. BUT, let the trade come to YOU. In other words, wait patiently until the price reaches the pre-planned zone before jumping in.
There's been lots of chatter about X (formerly Twitter) potentially utilizing DOGE in the future. Elon Musk himself has pimped out Dogecoin multiple times. But so far, none of those talks have come to realize. So for now, let's trade DOGE on technical setups instead of future fundamental potential!
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BINANCE:DOGEUSDT
BNB - YOU CAN PROFIT from Range TradingHi Traders, Investors and Speculators of Charts📈📉
Range trading can be dreadful, boring, and also a risky time to trade!
BNBUSDT is expected to continue trading in a tight range. However, this doesn't mean you cannot profit during times of low volume. Although leverage trades often get shaken out by algorithms, spot trading could be strategically used to buy lower and sell higher; old school style.
Also, we're celebrating 10K followers so cheers to you 🥂🥳
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BINANCE:BNBUSDT
BNB - BUY targets about to hit 💰📉Hi Traders, Investors and Speculators of Charts📈📉
Binance coin is oversold, but our technical indicator has not yet flashed the "Extreme Oversold". This indicates that it's possible to see one more move downward (even if it's just a wick) before the RSI corrects from being Oversold.
BNBUSDT looks like it's about to hit my spot buy targets with the traditionally approach of buying low and selling higher at the first and second resistance zone. Leverage trades often get shaken out by algorithms, spot trading could be strategically used to buy lower and sell higher; old school style.
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CRYPTOCAP:BNB BINANCE:BNBUSDT
ETH: Brace for Boring; Range TradingHi Traders, Investors and Speculators of Charts📈📉
Although we have seen slight corrections to the upside after a stretch of red days, most Technical Indicators are still extremely bearish in higher timeframes. It's helpful to look at technical indicators in higher timeframes because this cancels out the noise and shows the real trend.
Occasional wicks above and below is possible, as this type of price action is attractive for bots. Bots are algorithms / algorithmic traders that function really well in tight, range bound zones. When the bounces become too obvious; an occasional wick is seen above the resistance zone or below the support zone.
You too can trade these zones, if you are extremely disciplined and trade with spot instead of leverage. Leverage trading in tight ranges gets you rekt more often than not.
Again, I'm still looking at accumulation opportunities across the altcoin markets instead of trying to trade BTC or ETH here.
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DOGE - X Payments, Trading Plan Q4 2023Hi Traders, Investors and Speculators of Charts📈📉
Interesting times are ahead for Dogecoin alt in the near future.
X (formerly Twitter) will soon be releasing a payment option and many users are expecting a crypto supported system. The anticipation of the upcoming launch of Twitter's new "X" payments feature may lead to a rally as CEO Elon Musk has said that he is interested in making DOGE a payment option on Twitter, and this could give the coin a boost in value.
However from past events, we must remember to buy the rumor sell the news . It is therefore highly likely that the price of DOGEUSDT will first drop, possibly trade range there for a few weeks and then suddenly increase.
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CRYPTOCAP:DOGE BINANCE:DOGEUSDT COINBASE:DOGEUSD
ADA - Excellent Zone to Accumulate NOWHi Traders, Investors and Speculators of Charts📈📉
A quick look at Cardano. First, let's establish the Macro Market Phase that we're current trading in. This helps manage realistic price action. ADA is currently in pre-bull market phase / accumulation phase, in other words it is a great time to accumulate for the rally to come with scattered buying orders.
However, this doesn't rule out the possibility of another shakeout or bear trap, where the price drops as low as 20c before starting a new bullish phase.
A look at the technical indictor confirms this for the short term, where we see a very bearish scenario on the daily in terms of Technical Indicator.
Worried about the recent drop in price across crypto markets🤔? Check out this idea :
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CRYPTOCAP:ADA BINANCE:ADAUSDT BYBIT:ADAUSDT.P OKX:ADAUSDT.P COINBASE:ADAUSD BINANCE:ADAUSD
ALT Altimmune Options Ahead of EarningsAnalyzing the options chain and the chart patterns of ALT Altimmune prior to the earnings report this week,
I would consider purchasing the 3.00usd strike price Puts with
an expiration date of 2024-1-19,
for a premium of approximately $0.99.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
LTC : Likely Repeating 2020 Fractal 📈Hi Traders, Investors and Speculators of Charts📈📉
LTCSDT / Litecoin is looking ready for another bullish cycle after a clear completion of the Elliot ABC correction Waves.
We see a very similar pattern playing out during 2020 and it gives us a good idea of what to expect from LTC before another parabolic rally.
While you're here 👋 Check out this idea on CRV :
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CRYPTOCAP:LTC BINANCE:LTCUSD.P BYBIT:LTCUSDT COINBASE:LTCUSD BINANCE:LTCUSDT
CRV : Time to LET GO of a Sinking DEX?Hi Traders, Investors and Speculators of Charts📈📉
One of the most important lessons you can learn in life is when it's time to let go. This holds true, even for crypto.
A recent hack caused a significant amount of damage to Curve Finance. As we thought the price of CRVUSDT couldn't possibly go any lower... CRV, Curve's native token, plummeted and is now nearly falling off my screen.
On July 30, Curve Finance was hacked for over $73 million worth of crypto. The hacker exploited a reentrancy vulnerability in Curve's code to drain liquidity from multiple pools.
(For Nerds): A reentrancy vulnerability is a type of exploit that occurs when a function calls another function, and the second function calls back to the first function. This can create a situation where the first function can call itself infinitely, which can lead to a denial-of-service attack or a financial exploit.
In the case of the Curve Finance hack, the hacker exploited a reentrancy vulnerability in the code for Curve's stablecoin swap function. The swap function allows users to swap one stablecoin for another. The hacker exploited the vulnerability by calling the swap function multiple times, each time withdrawing more liquidity from the pool. This caused the pool to become depleted, and the hacker was able to steal the remaining funds.
Reentrancy vulnerabilities are often found in smart contracts. Smart contracts are often used to automate financial transactions, and they are therefore often targets for hackers.
The anon hacker has since returned over $61 million worth of the stolen funds, but the remaining $12 million worth of funds is still missing.
AS YOU GUYS ALL KNOW, If you've been following me for a while , as soon as I see a > -95% drop in a coin's value WITHOUT a quick recovery... I can't help but lose faith. It's an obvious sign that the demand is lacking, the project has no real interest from the market. I feel sorry for the team; they've been around for a while and it's a well-know project. This hack was really the last thing that they needed. BUT, it happened and unless they can come up with great new way to add value to CRV, I won't be holding any more CRV.
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CRYPTOCAP:CRV BINANCE:CRVUSDT BINANCE:CRVUSDT.P BINANCE:CRVUSDT.P
MicroCap Spotlight: Fightout - Coin for FITNESS RewardsHi Traders, Investors and Speculators of Charts📈📉
Here's a microcap that I'm extremely bullish on; Fightout Coin. Although not listed widely on exchanges yet, you can get this coin by swapping it for ETH on Uniswap and Coinbase.
Fight Out is developing an ecosystem that will reward people for keeping fit. Each and every fitness regime will be tracked in real-time via the Fight Out app. Users will earn rewards for completing tasks and playing games in the Fight Out metaverse.
For example, let's suppose that the user is interested in cardio exercises. The Fight Out app might set a series of treadmill challenges, where the user needs to complete a 1km sprint in a certain timeframe. As the user completes each challenge, they will receive tokenized rewards. In addition to personal challenges, users can also compete against other Fight Out players.
This will be conducted in the Fight Out metaverse and will include one-vs-one competitions as well as larger tournaments. For example, 100 users could enter a 20km bike race, but in their own physical location. The race would be viewed in the metaverse, providing a truly immersive experience. We also like that users will have their own avatar in the Fight Out metaverse.
The avatar will mirror the progress made by the user, in terms of their fitness achievements. When it comes to rewards, Fight Out makes distributions in REPS. The tokens can be used to purchase in-game items within the Fight Out metaverse. This includes boosters that enable users to amplify the number of REPS tokens earned. REPS can also be used to buy merchandise or swap for FGHT, the main utility token of the project. FGHT is also the micro-cap token that enables users to invest in Fight Out
FGHT it is also gaining popularity on different social media platforms. As an example, Fight Out has already gained over 60K followers on Twitter, which is great for a microcap. An active social media team provides a great way for interested parties to learn more about the Fight Out project; stay updated for any platform updates and be a part of the larger community.
The presale turned out to be very successful for Fight Out, although since the presale closed the coin has lost 85% of its price. This however, is a great opportunity to accumulate at a really low price. Due to the nature of the product, I don't expect this coin to surpass $1, at least not anytime soon. For now, more realistic targets would be the opening price
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UNISWAP3ETH:FGHTUSDT_7C7B2A.USD
LINKUSDT - $12 Likely during 2023Hi Traders, Investors and Speculators of Charts📈📉
Chainlink ( LINKUSDT) has recently made some big increases and it seems like this altcoin isn't done yet.
The Technical Indicator in the Daily timeframe is extremely bullish; we see a bullish cross on the trendlines. From the weekly, we can clearly identify the market cycle of accumulation phase as being completed. In other words, we're at the foot of a new bullish cycle.
You may need some patience for the second target, but a first target of 8.8 is very reasonable for the short term.
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CRYPTOCAP:LINK BYBIT:LINKUSDT.P COINBASE:LINKUSD BINANCE:LINKUSDT
LTCUSDT Rallies 38%, PULLBACK LikelyHi Traders, Investors and Speculators of Charts📈📉
We are seeing a correction on LTCUSDT after a 38% increase and it's time to secure those profits!
LTCUSD is likely to correct to the next immediate support zone where you can either
💥take a swing trade and short, or
💥 wait and accumulate more at the demand zone back in the $90's
Previous Litcoin Update :
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COINBASE:LTCUSD CRYPTOCAP:LTC BINANCE:LTCUSD BITFINEX:LTCUSD KRAKEN:LTCUSD BINANCE:LTCUSDT KRAKEN:LTCUSDT POLONIEX:LTCUSDT PHEMEX:LTCUSDT
Litecoin - $200 on the horizon: FRACTALHi Traders, Investors and Speculators of Charts📈📉
From the charts; a macro view on LTCUSDT with Fibonacci Retracement, Cycle analysis and Time Frame analysis :
By taking a detailed look, you can clearly see that the next phase bound to happen is the bullish phase, and Litecoin is no stranger to parabolic upside movements. The fractal we're looking at in turquoise happened around the same resistance zone that we're currently facing. Three bullish signs are:
✅ Consolidation under resistance zone / bullish
✅ Higher Lows - buyers are buying up dips
✅ Bullish Technical Indicator CryptoCheck START v3.5
Even thought the price may continue to trade range bound for a period of time, the next big market cycle is clearly the bullish phase.
Incase you missed it ! Here's yesterdays analysis on SOLUSDT :
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CRYPTOCAP:LTC BINANCE:LTCUSD.P BYBIT:LTCUSDT.P BYBIT:LTCUSDT BITFINEX:LTCUSDLONGS COINBASE:LTCUSD BINANCE:LTCUSD BINANCE:LTCUSDT KUCOIN:LTCUSDT KRAKEN:LTCUSDT
SOLUSDT - As GOOD as it Gets BUY ZONEHi Traders, Investors and Speculators of Charts📈📉
Solana / SOLUSDT has some GREAT upside potential from this point, and SOL is no stranger to parabolic upside movements. We know this because:
✅ SOLUSDT Macro Cycle analysis shows Accumulation Phase
✅ SOLUSDT established a clear bottom with CryptoCheck START v3.5 RSI showing oversold
✅ SOLUSDT is currently trading rangebound AFTER bearish cycle has completed
✅ According to market cycle / phase analysis, the next step to follow is the bullish cycle
✅ Clear support zone & resistance zone -ranges can be identified by using Technical Indicators
Even thought the price may continue to trade range bound for a period of time, the next big market cycle is clearly the bullish phase. It may take some patience on the trader's side, but this is an ideal buy zone for the accumulation phase.
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CRYPTOCAP:SOL BINANCE:SOLUSDT BINANCE:SOLUSD COINBASE:SOLUSD BYBIT:SOLUSDT.P BINANCE:SOLBTC BINANCEUS:SOLUSD CRYPTOCAP:SOL.D KRAKEN:SOLUSD OKX:SOLUSDT.P
ADAUSDT - Bottoms In, Bullish EngulfingHi Traders, Investors and Speculators of Charts 📈📉
ADAUSDT seems to have finally bottomed out at 23c or 21c, depending on the exchange you're using. This concludes the completion of the bearish Head and Shoulders pattern in the daily timeframe.
After this long wick towards a major demand zone / support zone , there has been a bullish engulfing candlestick in the weekly timeframe which is extremely bullish for Cardano.
We also observe a similar pattern playing out back in Feb 2020, when another long wick formed followed by a strong v-shaped recovery. This was the start of the next major bull run for Cardano.
Is the bullish price action on Cardano as a result of the recent Hydra update? 🤔
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CRYPTOCAP:ADA BYBIT:ADAUSDT.P BINANCE:ADAUSDT BINANCE:ADAUSD.P COINBASE:ADAUSD BINANCE:ADAUSD OKX:ADAUSDT.P KRAKEN:ADAUSD BINANCE:ADABTC
ETHUSDT Reaching for $2K and BEYOND📈Hi Traders, Investors and Speculators of Charts 📈📉
Ethereum has made a clear turnaround to the upside after a successful retest of support zone $1600 and we observe some additional bullish price action on the ETHUSDT chart:
👉 Lower Highs / Chart- and Trendline Analysis
👉 Double Bottom Candles / Candlestick Analysis
👉 Strong V-Shaped Recovery - Chart Analysis
👉 Buy from Technical Indicator / TA Analysis
The most likely next stop for ETHUSD short-term is the psychological resistance zone of 2K and then beyond in the near-term, possibly around $2300.
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BITSTAMP:ETHUSD COINBASE:ETHUSD BINANCE:ETHUSD INDEX:ETHUSD BITFINEX:ETHUSD KRAKEN:ETHUSD CRYPTO:ETHUSD BINANCE:ETHUSDT BYBIT:ETHUSDT COINBASE:ETHUSDT
All alts with this Chart Pattern will fly. Being Accumulated.My previous post on Bitcoin was wrong. Despite seeing a hidden bearish divergence signal, they sometimes appear falsely at bottoms when reversing.
While looking at alts, I noticed this about them. Zooming in to hourly time frames (I got several points of confirmation, including increase in volume with price jump) that all alts with this pattern are being heavily accumulated. This is ground zero of the alt run.
You need to buy all alts with this chart. Right. Now.
Weekly Analysis BTC via Ichimoku Good start to the week,
Let us analyze at a glance the daily chart of BINANCE:BTCUSDT with Ichimoku Kinko Hyo. We use the traditional settings. There are other indicators in the analysis. We have developed and released them Open Source.
Trend:
Kumo has been red for 26 days and is 4.2% wide. The various lines confirm a downtrend situation and we are below the Kumo, going towards the Tenkan Weekly. The already bearish momentum has been further exacerbated by the lawsuit to Binance by the SEC.
The Kijun Trend indicator now indicates looking for short positions, now since May 9, 2023
Heikin-Ashi:
Instead, the Heikin-Ashi is communicating uncertainty to us, as we are still inside the Kumo and certainly today's day pushed the price towards the lower end of the Kumo.
Supports and resistances:
- 28900.00 Chikou cusps and flat areas of Kijun and Tenkan
- 27800.00-27900.00 Chikou cusps and flat zones of Kijun and Tenkan
- 25000.00 Fibonacci
- 24800.00 Chikou cusps and flat zones of Kijun and Tenkan
- 24400.00 Chikou cusps and flat zones of Kijun and Tenkan
For static price levels, the lower right chart plots the flat zones of Tenkan, Kijun, Senkou Span A and Senkou Span B on different timeframes, and the Chikou for the daily time frame.
For dynamic price levels, the Ichimoku lines can be observed: the Tenkan Sen (short term), the Kijun Sen (medium term) as well as the Senkou Span A and Senkou Span B (long term).
Conclusions:
For the past month the situation is bearish, today after the announcement that the SEC has sued Binance, it has led to fear in the markets, generating a candle at the moment of about -5.5%. There are several allegations: first of all about the fact that some coins are considered as securities(e.g. BNB, BUSD, SOL, SAND, FIL, ADA, MATIC, COTI, ALGO, ATOM, MANA, since they can be staked to generate annuity) and therefore need a license to be managed, non-compliance with the ban towards US users and some suspicious transactions carried out by CZ and on the management of clients' funds. In contrast, Binance has defended itself by rejecting allegations that it maneuvered customer funds and that it has always cooperated--from the creation of binance.us--with the SEC and thus points to the allegations as unjustified.
It is possible to find a sideways/rebass ABC pattern indicating the following levels: NT 29230, N 26655, E 24080, V 23296.
It is important to evaluate the price close during the week on the following price structures:
- Bullish: 27100.00-28700.00
- Bearish/Lateral: 24800.00-28155.00
Altcoin Cycle:
For Bitcoin Dominance and Altcoin Cycle we can consider the weekly variation:
- Total cryptocurrency market capital: Decreased.
- Dominance of BTC: Decreased.
- Price of BTC: Decreased.
- Alt cycle expectation: Stable.
Thanks for your attention, happy to support the TradingView community.
Indicators used:
Analysis Tool
Kijun Trend Indicator
Ichimoku Support and Resistance
Chikou Support and Resistance
ARPA - Second Run Incoming!We have finally reached an area of support where we can start longing into ARPA, this whole range is an excellent area to go long on ARPA. Chances are high that we'll rebound today so make sure to have your tp set as we never know how hard it wants to go.
TP 1: 0.094
TP 2: 0.12
TP 3: 0.19
Good luck and wish y'all many profits!
Why I'm Bullish on XRP: EXTRA for ExpertsHi Traders, Investors and Speculators of Charts📈📉
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year 🏫
If you have been following for a while, you'll know I have strong feelings for XRP. (just kidding), but I do believe in the fundamental arguments for XRP, as I have pointed out many times in the past on the videos.
But unfortunately, as it goes with XRP, the price hardly moves... Today I take a deep dive into the charting, and explain why I believe upside is finally on the horizon for XRP from a technical perspective.
Tomorrow I'll update with an XRPBTC view as well as a technical indicator analysis.
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CRYPTOCAP:XRP BINANCE:XRPUSDT BITSTAMP:XRPUSD BINANCE:XRPUSDT.P KUCOIN:XRPUSDT BITFINEX:XRPUSD BINANCE:XRPBTC BINANCE:XRPBUSD