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Altcoins

SAGA - 4H Perfect Buy OpportunitySAGA had three bearish legs, each resulting in a 60% price fall, demonstrating a strong downward trend. Within these bearish moves, there were two bullish pullbacks, each with a 60% rise, indicating temporary reversals before the continuation of the downtrend. Currently, SAGA is at the bottom of the latest bearish leg. Given the pattern, I expect a rise as a pullback to the first resistance zone, which is a typical market behavior after such significant drops. If SAGA manages to break through this resistance zone, it could potentially rise further to the order block of the last bearish leg. This scenario would align with previous patterns of price action, suggesting a short-term bullish move within the overall bearish trend.
Long
by Sober_Trading
4
TRX - The Outlier - Time For A Mega Short?Ah, Tronix. Yes, it's actually called "Tronix", not "Tron." The coin with the disappearing wallet. No joke, I made a wallet back in early 2019 for TRX and stored the private key. I like to do things the old fashioned way, so I wrote it down and double-checked it by logging in. The second time Iogged in, I got the notification, "this wallet doesn't exist." Since then, I've been pretty wary of this project. I could go into all sorts of conspiracy theories about Justin Sun, CZ, Binance, stablecoins......but I'll leave that to your imagination. This is a purely technical setup. TRX is one of the few coins that has maintained higher support levels during this bloodbath. What's up with that? As far as I understand, TRX is burned to help keep the Tron stablecoin USDD pegged to the dollar. USDT recently moved away from the Tron network. Anomalies like this don't usually last long in the crypto market. I'm speculating that this breaks down massively. There's already buzz that TRX will be the next LUNA, but before I say it's going to zero, let's just look at horizontal supports. If TRX cannot hold the 200 MA on the 3 day (teal), and if it cannot hold that orange uptrend, I think it can fall 50% pretty quickly, much like other alts during this period. On the bullish side, TRX will need to break and hold above the 200 day MA (teal in the below chart) The 200 week MA lingers just below, at the 4 cents level. Now, the question is - does TRX test the 50 week MA near 8 cents one more time before dumping? Let's find out. This is not meant as financial advice. This post is highly speculative, and is meant for entertainment :) -Victor Cobra
Short
by VictorCobra
4
TRX - The Outlier, Part 2This is just a quick follow-up post to my short idea on Tronix from May. Here is the original post. I ultimately got stopped out of the first trade and failed to catch the nearly 50% drop. Despite dropping below the uptrend, TRX rebounded much better than the rest of the crypto market, and remains one of the only coins still above its bull market support. It's been doing better than both Bitcoin and Ethereum for months. So, what's going on? Without going into too much detail, the price of TRX is being inflated due to burning mechanisms and its algorithmic stablecoin USDD. Does it deserve its current valuation? Is Justin Sun truly a genius who has engineered the perfect, stable asset? My bet is that this is not the case. I'm scaling into a short again - entries are marked at the green levels on the lefthand chart, which shows short-term price action. Short term targets are in red, while longer term short targets are shown on the righthand chart (3 day). It might take some time for this to break down, during which TRX can again get into the mid-7 cents zone. This is especially the case if markets are to rally for another 2-3 months. This is why my stop is fairly tight here, and I'm just trying to catch a wave down. Let's see! Invalidation will be if TRX can break and hold above that triangle resistance on the 3 day chart. This is not meant as financial advice. This is meant for speculation and entertainment only. -Victor Cobra
Short
by VictorCobra
1
BAKEUSDT: A Sweet Opportunity Amidst a Sour Dump? pen_spark BAKE has been baking up a storm of volatility lately, with a nearly 50% price drop over the past few weeks. New lows have been established, leaving many traders wondering if the bottom is in. However, a closer look at the 4-hour chart reveals a potential long opportunity brewing. Key Points: Range-Bound: BAKEUSDT has been consolidating within a well-defined range on the 4-hour timeframe. This indicates a potential equilibrium between buyers and sellers. Breakout Potential: A decisive break and close above the upper boundary of this range could signal a shift in momentum and trigger a move towards the next resistance zone. Retest Opportunity: The next resistance zone would likely act as a retest area for the breakout. If BAKEUSDT holds above this zone, it could pave the way for further upside continuation. Risk Management: As with any trade, proper risk management is crucial. Set stop-loss orders below the recent swing low to protect your capital in case the breakout fails. Trade Idea: Entry: Consider entering a long position on a confirmed break and close above the lower boundary of the current range. Stop Loss: Place a stop-loss order below the recent swing low. Take Profit: Target the next resistance zone for a potential retest. If the retest holds, consider raising your take-profit targets to higher levels. Let me know if you'd like a more detailed analysis or have any questions. #BAKEUSDT #BakeryToken #Crypto #TradingView #TechnicalAnalysis
Long
by SwingSamurai_QMA
1
What's Next For Bitcoin And Altcoins?Altcoins Bouncing, RSI About To Reverse & Why You Should Be Bullish 🚀 I hope you watched yesterday's market as excited as I did. Bitcoin broke a significant resistance and closed below 60k (today, it is already back above). But there was an exciting aspect to watch: Despite the heavy dip, many altcoins dipped only moderately or were up! As a result, the crypto market RSI stopped its long-term decline and didn't go lower. The question is, what's next? Here's my scenario: Bitcoin 📉 I am not a doom prophet, and I don't think Bitcoin will go much lower from here. Indeed, there might be another dip, but nothing substantial. Two other options are more likely, IMHO: a) Bitcoin goes sideways and hovers between 60-65k, or b) Bitcoin starts climbing and breaks the ATH. Altcoins 🆙 We will see a more substantial relief rally for many altcoins now. Yesterday's performance was so strong that it showed we might have seen Bitcoin dominance at the top for this part of the cycle. From this point on, money should flow into the altcoins market. How to trade 💹 Watch the coins that performed best yesterday (and today). BIST:LINK MIL:OCEAN , SEED_DONKEYDAN_MARKET_CAP:JASMY , SEED_DONKEYDAN_MARKET_CAP:FLOKI are just a few examples. Usually, the tokens that perform well on days like yesterday are the ones that deliver the best results.
COINBASE:BTCUSDLong
by ben_walther
BTC - Daily TR phaseIn the daily timeframe, Bitcoin is navigating within a defined trading range, characterized by a descending channel with a gentle slope. This pattern suggests a period of consolidation following the substantial bullish momentum observed earlier in the year. The channel's boundaries are formed by resistance around the $73,000 level and support near $60,000. The gradual decline of the channel reflects a controlled correction rather than a sharp drop, which can often indicate a healthier retracement phase within a larger bullish trend. Observing recent price action, Bitcoin has encountered resistance twice within this descending channel, failing to break through the $72,000 zone. Each attempt has resulted in a pullback, highlighting the strength of the resistance level. The current price action suggests a possible decline towards the support zone at the lower boundary of the channel. Despite these pullbacks, there is a possibility that Bitcoin may find support above the lower end of the channel, potentially around $60,000 to $62,000. This would reflect buyers stepping in at higher levels, indicating underlying bullish sentiment even within the corrective phase. The behavior within this channel is critical for anticipating the next move. If Bitcoin finds support higher than the channel's bottom, it could set up for a bullish breakout in the future, targeting a move back towards and potentially above the resistance zone. Conversely, a failure to hold these higher support levels might lead to a test of the channel's lower boundary, necessitating a closer watch on the $60,000 support area for potential buying opportunities. Overall, the descending channel should be monitored for signs of consolidation, accumulation, and possible reversal, which could provide clues to the next major move for Bitcoin.
by Sober_Trading
4
$61,357 is the 2021 highest monthly candle closeMaintaining this on a closing basis for JUNE & JULY is essential to ensure we haven't prematurely topped out we did have some topping signals namely the #bitcoin ETF approval and going live and Andrew Tate destroying the #Solana network :) It would not be entirely disastrous in BTC ends the calendar year around 50k but it would actually give fuel for a full 4 year cycle I am still leaning into this being a Bear Trap And a MASSIVE #Altcoin shakeout. and the #MTGOX distribution not having much effect (remember they got hacked for 700,000 coins and only have 140k to reimburse )
INDEX:BTCUSDLong
by BallaJi
4
24/06/24 Weekly outlookLast weeks high: $67,290.83 Last weeks low: $62,212.60 Midpoint: $65,251.72 Despite the seemingly endless chop, last week was a very interesting one for BTC. Micro strategy added ~$800 worth of Bitcoin to their balance sheet, putting them at 226,000BTC, just over 1% of the entire BTC supply that will ever exist! In relation to microstrategy, Michael Dell has been sending some cryptic tweets reacting to the news that Saylor has added even more to their balance sheet. “Scarcity creates value” was his response. With the news that Dell is potentially buying or looking to buy Bitcoin it’s strange that BTC has dropped in price overall with overall sentiment in the space being very negative. As we continue to slowly sell off and alt oins continue to get destroyed in both their stable and BTC pairs, I would like to see a clear capitulation wick with obvious strength on the bounce. It’s hard to say at what level that will come to, many are calling for GETTEX:52K which is a clear Bullish OB+, so it could be there however that would be devastating for all alt coins and may/probably have a bearish effect on the launch of the ETH ETF which is coming in the near future, 1/2 weeks. For this week it’s purely about survival and looking for signs of capitulation, max fear and showing of strength following any potential sell offs. A slow bleed down within a range is very hard to catch the bottom but it would be better to see clear signs of reversal.
by ProR35
Token name from you, Analysis with me(6/22/2024)Hi everyone, I hope you have a great weekend. Last week, this type of post was well received; as I said, I will share a post for your Altcoin analysis request , where you write the Project name and Token symbol in the comment section, and I will then share the token analysis with you. Please pay attention to the conditions. For example , write Bitcoin(BTC) in the comment. Project name : Bitcoin Token symbol : BTC A maximum of 20 tokens will be analyzed for you. Each follower, please register only 1 analysis request in the comment section. Your token analysis will be shared below your comment . I hope you are always healthy first and then rich. Please do not forget the ✅' like(More energy for me) '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
by pejman_zwin
104