Altcoinsvsbtc
XRPWeekly chart has XRP sandwiched between the ema 50 & 100 also rejecting from LT POC of that HV node around .31c USD.
My fib extension TP is $1.02-$1.25 for this larger move and allowing XRP to finally play catch up with BTC & ETH.
This being said RSI is over bought & pointed down. I could easily see another test of .20c B4 the uptrend continues.
XRP is such a popular and highly traded coin that MMs just cant let the XRP bulls win IMO, at least not without relentless shake out after shake out since 2017 bull market ended.
One day when the MMs cant stop the bulls, XRP will probably just moon shot to $20 but until then HOLDERS get destroyed.
Stay the course and keep busy is my advice one day we will have our moment XRP army
Total Market Cap All Time High — And A Dragon Formation :) A little bit playful today with a dragon drawn over the current long-term price structure of the total market cap chart.
A technical concern is that short-term it appears we have an ascending wedge which can indicate weakness.
The all time high is 100% gain away. We remain 'optimistically cautious' on hitting that level this year.
Could there be another 'covid crash' like in March or US election mayhem...
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AION is clear for takeoff heading into Q4AION has been consolidating below 1400 sat resistance for months after a huge influx of volume came in this spring. Marking what is very likely to be the bottom on this one.
There is a major catalyst coming up that will reduce the inflation of AION token to about 1/8th of current inflation rate. Already being called the "Eighthening" by community members. This will no doubt spur bullish speculation on the token in the lead up to the event which is currently slated to occur on November 15th. (www.timeanddate.com)
The project itself has a plethora of impactful partnerships that are likely to generate real demand for the token at some point in the future.
It is difficult to find a token with MORE relative buy volume inflow (In January 2020) when zoomed out on the weekly.
On Balance Volume (OBV) just made a new high.
If 1400 sat resistance breaks, the expansion move up into the 3000 sat area is likely to be very aggressive.
Price is currently resting just above the #pumpchaser zone (.382 - .5 fib levels)
Expect to see a very impressive Q4 performance from AION.
Bitcoin Dominance (Potential Alts Upside Continuation)If we assume the whole move up was an impulsive 5 wave structure; the dominance is now currently under the .236 Fibonacci level and the .382 may be next. I have (roughly) taken the height of the bearish descending triangle that broke down and cloned it for a breakdown target. This would also line up with the .382 level.
Here I am using the weekly candles. Although the current candle has not yet closed, a massive wick to the upside also retested the breakdown area of the descending triangle above it.
Providing this weekly candle closes under this .236 level a bullish continuation for altcoins would be expected!
Bitcoin Back Above Key Level With Positive Momentum If you've tracked our updates the past couple days you can see a glimpse of how quickly and easily market sentiment can change based on manual technical analysis.
Earlier today we said "Bitcoin Beyond Hope? 3% Drop At Hand". Here's the chart:
As of right now, price sentiment has reversed and we're back above resistance.
What a big consumption of time. And all for just a couple of percentage points either way up or down. But of course the opportunities and risks are larger. A drop could turn 3% into 30% and you miss it. Or a sudden price rally could turn 3% gain into a 30% climb. So we have to pay close attention... or do we?
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As of right now, sure enough, price action is reaching above the same horizontal level we've been watching since yesterday. This may indicate strong enough market sentiment that no further drop will happen.
If price climbs back into the yellow shaded region as shown, there's a good chance that panic stations are over and traders will be looking for new long positions.
We advise caution until momentum indicators reset on longer time-frames. We also advise making use of our algo-assisted signal and backtesting system.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
Weekly Bullish Bat on BAT/ETHLast year i posted a bullish butterfly on BAT/ETH and it very much outperformed our targets it was great. The butterfly was mostly only visible on the 4hr and a bit on the daily.
Well now it seems that the price actin we got out of that has given us a nice much bigger visible on the WEEKLY Bullish BAT pattern
With buy targets between 0.00098795 and 0.00092667 ETH
gl everyone! lets see if we can get another huge winner out of BAT from this one ;p
CELER NETWORK WAITING FOR A PULL BACK FURTHER TO ENTER LONGI think this one is setting up for a nice upwards movement and would like a further drop into my buy zone which is confluent with the Monthly level and the golden pocket retracement of the big move up.
Will we get there? I don't know but if we do I will be looking to go long.
BTC/USD The Forgotten Triangular Pattern I am sure everyone knows BTC is about to make a huge move. From May till June even on the current moment BTC/USD is moving very slow and getting less and less volatile. BTC halving is already over is and is going to moon right? 24k here we come!!
Here is a warning!!
BTC is still within a strong triangle pattern, and still, in a strong downward pattern market, you can see in the chart I made the triangle pattern started to form at the end of 2017 and yet to be broken. I ain't optimistic about BTC/USD could break the triangle in short-team (now and in the near months).
Zoom in and looking at the 1D Chart:
BTC has attempted to break 10k area and hasn't succeeded yet, the 10k area remains as the strong resistance before BTC Moon. And I am really pessimistic about BTC's ability to break it now.
Here my reason; From the RSI the bear in on a steady pace controlling the market, as the RSI keeps on decreasing the bear get stronger, which only makes BTC weaker to break the 10k resistance. Also, capital seems to get out from BTC, less $$$ in more $$$ out, in other word market are not interested in buying BTC anymore, and selling it. Just take a look at the BTC Dominance Chart.
Hence I suggest keeping an eye out for the Altcoins market, Altcoins season seems to be nearing, and start to build short setup for BTC.
The last question from me, Are we now on a consolidation phase for an upward trend or we had reached the exhaustion point of the upward trend?
Share your answer with me on the comment section below, and like the post for more upcoming analysis for BTC or Altcoins.
NEO/USD: Multiple Levels of AnalysisNEO/USD was requested by my good friend GBU Professor Wally. I apologize I was not quick enough to respond to his Super Chat on Friday afternoon.
I quite like NEO in this area. On the Weekly Timeframe, we are consolidating following a downtrend and now a long period of sideways and volatile ranging. I identify the current formation as a Rectangle Bottom, which I have a high hit rate with in my discretionary trading. Once our weekly resistance level is broken (weekly close above) it will also flip the weekly SuperTrend bullish. I have marked out our measured weekly profit targets.
On the Daily, we are receiving a potential PTP Daily Swing Long Signal. The actual signal would have been generated on yesterday's candle, however we were above the Qualifying Line generated by our Donchian Base Line. Now we have a potential RBB buy in opportunity and price is within our Buy Zone. Good R/R on this setup.
On the hourly, we can see a potential market bottom being signaled. ICYS Bot has generated a buy signal in addition to Vix Fix signaling a high volume potential bottom.
Trade safely and position size wisely, 2% risk is recommended.
Good fundamentals Icon has good fundamental news, the team will release the new update to mainnet on 27 july 2020 ..
On the technical analysis, Icon is now retesting the 38.2% fibo level resistance and it's highly probable that it will be broken ...
Mid term:
Entry point: Between 4300 and 4500
TP1 5567 29%
TP2 6544 52%
TP3 7936 84%
TP4 9709 125%
SL 3379 21%
*Trade on your own risk and make your own analysis*
Good luck.
Scalping opportunity ..POA/BTC testing 50% fibo point, which is a strong support ..
We can do scalping with entry point 157
TP1: 176
TP2: 183
TP3: 199
SL: If 4H candle close under 151
Make your own analysis ...
Good luck !