Total 3 Bull Market in Jan - Mar 2024Total 3 - Altcoins (minus BTC & ETH)
A different "perspective" to yesterdays chart.
Yesterdays chart suggested TOTAL 2 (Altcoins minus BTC) has a probability of breaking out in Dec 2023.
The TOTAL 3 (Alts minus BTC/ETH) chart suggests we could break out later between Jan - Mar 2024. This would make sense as BTC and ETH are typically first movers, and are followed by the altcoin market.
Its important to understand that these charts help gauge timing a long term trade in altcoins. The charts only provide a rough time frame of a probability of a break out into a new secular bull market between Dec 2023 - Mar 2024. All this offers is a probable time window. I would hope it would help you sit on your cash until we have some confirmation of price direction within a historically reasonable time frame, as illustrated in the charts.
PUKA.
Altcoinmarket
Total 2 - Altcoins minus BTC TOTAL 2 - Crypto Market Cap minus BTC
Three confirmations for bull status
1. Above 100 week SMA (No where close)
2. Complete 149 weeks in Pennant (Dec 2023)
3. Break above Point of Control (POC)
The 2018 - 2020 fractal is overlaid for perspective only
The Point of Control (POC) is the price level at which the greatest number of contracts have been traded within a volume profile (THICK RED LINE).
This line naturally coincides with resistance overhead.
Its important to recognize that the chart is just a perspective that aims at helping with timing an entry with a good potential outcome. With three indicators backing your trade you would have a better probability outcome. So we wait for the three confirmations to occur. Could you be accumulating sure.... but why would you when we are under the 100 week SMA appear to have more time to burn before a Bitcoin cycle really kicks off never mind the altcoins. Its important to recognize also that this chart includes ETH and ETH has been performing exceptionally well this cycle. I will be completing another chart excluding eth in coming days.
I hope this chart helps you time your trade and your positing into altcoins, when the time is right, when we have confirmations and the wind at our back.
PUKA
ALT COINS Made a major bullish break-out above the Falling WedgeThe alt coin market (TOTAL2) broke last week above the Falling Wedge of the Bear Cycle that started in mid 2021. Currently we may be seeing a pull-back that may put the 1D MA50 (red trend-line) and 1W MA50 (blue trend-line) to test as Supports.
On the long-term though, this break-out along with the formation of the Inverse Head and Shoulders (IH&S) pattern, targets much higher and more specifically the 2.0 Fibonacci extension at 1.135T.
Note that it was the 1D MA50 crossing below the 1W MA50 in mid February that confirmed the long-term downtrend and similarly, it will most likely be last month's 1D MA50 crossing over the 1W MA50 that confirms the long-term uptrend/ Bull Cycle.
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ALTCOIN Market still consolidating. This shows its huge upside.The Altcoin market (total market capitalization excluding Bitcoin) is basically still consolidating. The long-term pattern is a Channel that is best described when using the Fibonacci Channel levels. Right now the price is on its bottom, with the 1W LMACD turning bullish since the August Bullish Cross.
The only times in the market's history this happened below the 0.00 mark designated the bottoms of December 2018 and May 2015. As you see on the chart, on all occasions (including today), the US10Y had already peaked and was on a downtrend. This suggests that the market has entered a strong Accumulation Phase, with long-term investors stacking ahead of the new Bull Cycle. This historically is the best time to enter the market.
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Radix the gemHello everyone,
Tonight I bring you a Gem.
I accumulated this baby in the accumulation zone down at the bottom.
However, it shows one of the cleanest Elliott Wave charts I have seen. I will be holding this baby for the next 2-3 months...I have some targets in mind, which will surprise those who will join the ride.
I will, however, reveal the first one...0.92.
For those of you that would like to enter...I am adding to my position at this level (0.26 - 0.30) with SL below 0.25 (according to my risk strategy).
That will be the perfect retracement for the 3rd wave. When the minor wave five is completed at 0.92, there will be a very painful retracement back to the 0.30 level.
However, after that...well, you will see.
Now let's ride it to 0.92
(High Risk)
Altcoin MCAP Fibonacci Circles - Huge Upside? In the first scene we can see OTHERS bouncing off 3.618 strongly off the strongest trendline available
A possible falling wedge breakout
This level was seen as resistance previously before the massive run up we saw, now it is support
In the second scene we can see TOTAL2 (altcoin cap) approaching 2.618, during the last bull run as price approached 0.618 of this same trend a massive run up through the transition occurred, will we see another massive run up through 2.618 (another .618) level
If it occurs this will lead to phase two of the bull run, a more aggressive, and sharper rise across the board.
COMPUSDT - Corrective shortCOMPUSDT on the daily timeframe has a nice impulse and has broke above structure, also over extended and due a correction. Also on the daily timeframe market has formed this nice W formation in which we expect the market to complete at the neckline, we will be waiting on lower timeframes for entry rules to be satisfied BEFORE possibly looking at capitalising on this scalp short position.
Venus (XVS) DeFi Play on Binance Smart Chain (BSC)Hi Folks,
after a longer period of focusing on my trading I am back with some ideas (see also the similar post on CAKE - PancakeSwap linked below).
Not sure you are familiar with the Binance Smart Chain (BSC). Basically it is like the Ethereum network, but with appropriately low transaction fees.
Venus is a Binance Smart Chain-based DEX (decentralized exchange). I wasn't really aware of it until the recent Binance Coin (BNB) and XVS price surges. .
I have produced these four views on Venus for you to use / copy if you'd like.
Top left is the USD chart. XVS has lost 30% of its value and if you believe in it being currently the better (way less expensive) exchange solution compared to UNI, MAKER, SUSHI & COMP then this just may be a good time to start or extend your position.
Bottom left is the EUR chart.
Top right is the Venus vs. Uniswap (UNI) ratio. This ratio shows that Venus has been losing value against UNI, but it appears a support level may be forming for it to attack UNI again. At the time of writing this a level that seemed to be stable was crossed. To be watched.
Bottom right the same style ratio with SushiSwap (SUSHI), same view as on UNI. Looks like a support level is forming.
Venus is number 5 in the dappradar rankings in terms of total balance and has had a steady but bumpy growth in terms of volume, users and transactions over the last 30 days.
With Bitcoin likely taking a breather today and tomorrow below $60k and only maybe sneaking up to $60k next week there seems to be a likelihood that the overall market will be drawn down as well.
It may also be the time for altcoins to shine and may give Venus (XVS) an opportunity to catch up with UNI and have a fantastic gain.
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DOT weekly dip bounce up analysis. ALTcoins market over yet?Weekly dip just like a clock.
I feel like we are in the BUBBLIN phase for altcoins, most charts are seeing x3 - x20 across boards, so beware this will not continue for a long time now.
Expect BTC to bounce up from weekly support and ALTs will follow. Possible retrace for DOT here.
Check both RSI and Volume movements.
IF BTC will continue to fall and we will not see RSI pump, altcoin market will see red and we might hit hard support at 12,5.
We observe.
We make plans.
We take profit.
And then we wait.
Patience is the key.
XRP Scalp Set-up for 18% gain! 🚀The $.31 support level now has given XRP support on three occasions already and also shows some historical strength on the S/R flip. Since the price has reached this level again now, I believe this could be a great moment to enter XRP for an amazing 18% trade opportunity.
I tried to make the chart as self-explanatory as possible so I won't add lots of text in here. In case you have any questions, feel free to drop a comment and I'll make sure to leave an answer for you.
Bitcoin Dominance Continuing Its DowntrendThe 5-day chart shows well how bitcoin dominance rose slightly to test resistance in the past couple of weeks and is now capitulating under the pressure of the emerging altcoin bull run.
As forecast in our chart last week. Visit the chart and click the play button...
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
Long Wicks Point To Collapse Of Bitcoin Compared To AltcoinsThe 5-day candle shown from 25th May has a long upper wick showing exhaustion of bullish sentiment, which preceded an 8% drop until now.
Today we can see the same type of long upper wick forming on the current 5-day candle, which happens to be directly below the 5-day Ichimoku Cloud (a bearish situation).
Despite current market volatility and a consolidation range, it appears the overall altcoin market is ready to make significant advances against bitcoin itself.
The outlook for bitcoin is short. The outlook for altcoins is long.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
Bitcoin Dominance 5D Chart Shows Downward TrendDespite the attempts of Bitcoin Whales and Maximalists to maintain Bitcoin as the number one crypto... the market seems to be moving towards altcoins more and more.
As new projects form... old projects evolve... and new money floods into the crypto market... it seems inevitable that the 'altcoin' market cap will increase relative to the bitcoin marketcap.
That's not to say the Bitcoin Whales won't fight for their prized possession. Through various market manipulations and maximalist shenanigans, they will attempt to bolster the price of bitcoin with large upswings in the price of BTCUSD expected.
Follow us for analysis as the crypto markets evolve over the coming summer and US elections and towards the new year.