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We Called The ETH Short!On our last post, we talked about or quick short position on ETH from 1220 and we actually hit our target of 1136! I'm going to cover my next price prediction along with some TA I used and indicators below: To predict our ETH short, we used the RSVP Extractor and the Stoch RSI along with out support/resistance lines. Based on the 8hr chart for ETH, we saw that every time there was a red diamond on the RSVP Extractor and the Stoch RSI was near 100, the price of ETH would decline approximately 7.5%. This initially gave us a price target of 1136. Now seeing that we dropped below that, our next price target is 1046. This is based off a couple of factors. First, the 8hr support for ETH is at 1046 (orange line) and we have two green diamonds on the RSVP Extractor, AND the Stoch RSI is near 0. All of this combined, I believe we'll get a rebound at 1046 all the way back to 1220. If we keep falling afterwards, my next target would be 945. TL;DR - ETH short target is 1046, ETH long target is 1220. Further decline of ETH could see support around 945. If you enjoyed my TA or have any questions about the indicators used, please comment below or send me a DM :)
Short
by CryptoScripts
Quick Short On ETH! From our last bullish call on ETH, it went from 1085 to 1230! Over 13% :) Now I'm expecting a temporary short on ETH to around 1130. Let me tell you how I arrived at that conclusion. Looking at the 8hr chart on ETH, we can see it's coming up to resistance. Now there's also a bullish inverse head and shoulders pattern (drawn in green) but if that can't break the neckline (red rectangle 1230-1270) then I can see a decent rejection. We can also see there's a red diamond on the RSVP Extractor (my indicator) and the Stoch RSI is overbought. Looking at past history, the last 3 times this happened, ETH declined around 8% which coincides to 1130 from 1230. Therefore I'm taking a quick scalp short and expecting to cover half at 1130 and ride the rest in case we go lower. The next major support would be around 1050. If we end up breaking the neckline then that's extremely bullish for ETH and I would maintain the target of 1400 (per my previous idea). TL;DR -Shorting ETH to 1130 then expecting a bounce -If we break the neckline, expecting at push to 1400 before rejecting If you enjoyed my TA or had a question about the indicators used, please comment below or send me a DM :)
Short
by CryptoScripts
BTC 3D Bullish Divergence! Yesterday I posted about the 3D bullish divergence on ETH at 1085. It's already up to 1155 (7% from the call)! Now I'm noticing the same indications for BTC, along with a few other indicators (as discussed below). Looking at the 3D BTC chart, we can see a couple of things: 1. Huge descending wedge forming with a worst case target of 12k (if we continue down). 2. Bullish divergence forming on the Stoch RSI. Since May 10th, Bitcoin has been in a decline while the Stoch RSI has been in an uptrend while ALSO starting to cross to the upside (very bullish for a short term relief) 3. Along with the bullish divergence, we ALSO have the RSI oversold (yellow shaded indcator) AND a double bottom forming on the VMC Cipher indicator (two green dots) which also points to a temporary relief bounce With all of that said, my short-term bullish price targets for BTC is 25k (because that was the previous wick low turned resistance). After 25k, if we continue upwards, I'm looking towards 30-32k where we have MAJOR resistance. If we get there, I don't expect us to break it on the first try. We would essentially tap those levels then retest 25k then try to break them again (bullish case). It would also be extremely bullish if we crossed above the 200 EMA (pink line on the chart), as a lot of people are watching that metric and it's a great indicator for the overall trend Now this is all assuming the macro economic environment stays relatively stable and there aren't any big negative news events. For the BEARISH scenario, I could see us retesting 19k and continuing down on the descending wedge trend line all the way to 12k. Good levels to DCA would be 19k, 16k, and 12k. The next few days/weeks will tell us a lot! If you enjoyed my TA or had any questions about the indicators I used, please leave a comment below or send me a DM :) Thanks for reading!
COINBASE:BTCUSDLong
by CryptoScripts
ETH 3D Bullish Divergence! Looking at the 3D chart for ETH, we can see a few bullish patterns forming (both candlestick and technical). If you look at the Stoch RSI, you can see it's forming a bullish divergence with the ETH price action AND is starting to cross to the upside. This, along with the RSI being oversold (yellow shaded area on the RSVP Extractor) and the previous green "Hammer" candlestick pattern (bullish reversal pattern) give me a thought that we MAY be getting some temporary relief. Plotting our support and resistance lines, the next major resistance would be 1400 on the 3D which is why I have that as my next price target for ETH before potentially reversing. If we don't get a bounce from here, I'm afraid we may be retesting 1030 as micro support and 880 as the major support for a possible double bottom pattern. If you have any questions about my TA or indicators used, please leave a comment below or send me a DM :)
Long
by CryptoScripts
ETH Breaks Below 1k! What's Next?A few articles ago, I talked about ETH breaking the weekly trend line (teal) and the next major support being $800. Seeing as we just broke $1,000, I strongly believe that is the next target. The macro environment has been extremely bad the past couple of months and is showing no signs of slowing down (30 year fixed rate mortgages are approaching '08, '09 levels). ETH broke below its 200 EMA two weeks ago and is now on a trajectory for my first DCA weekly support of $800. After that, I'm looking to purchase more at $530, then $308 (the next weekly support levels). The Whales buy-sell indicator gave us a great short entry towards the end of April and hasn't flashed a buy yet. I'm still waiting for the indicator to flash a buy, as well as ETH to cross back over the 200 EMA. Until this happens, I am still only looking for leverage shorts and spot buying at my predetermined weekly support levels. If we bounce from here, the next major resistance will be near 1400-1500 which coincides with weekly resistance and the 200 EMA. If you have any questions about my TA or the indicators I used, please leave a comment below or send me a DM :)
Short
by CryptoScripts
6
Bitcoin Holding Above 20k For NowCurrently looking at the Weekly Bitcoin chart, we can see it's still holding above $20,000 which is good for the short term. Although the Fed just announced a 0.75% bp hike and still possible 0.50 to 0.75 hike in the future so we're not quite out of the woods yet. The next major support for Bitcoin is still 19k.A lot of people believe that 20k will hold but I believe market makers still see a lot of liquidations below that and will wick down to at least 18-19k. The descending wedge has support levels near 19.5, 19, 16, and 12k. The biggest level coinciding with the horizontal support is 12k so I could definitely see us heading towards that level over the next couple of months if the macro environment doesn't improve. The Whales buy-sell indicator is still flashing a sell and we are still below the 200 EMA. Two indicators I'm looing to turn positive before I choose to start buying. If we do pump, the next minor resistance I'm looking at is 25k (the previous wick down). If you have any questions about my TA or indicators used, please comment below or send me a DM :)
COINBASE:BTCUSDShort
by CryptoScripts
ETH Price Prediction! Is This The Bottom?The current state of the market isn't looking good as all (especially with Celsius halting customer withdraws and 3AC (Three Arrows Capital) potentially getting liquidated soon). I currently have the Weekly chart for Ethereum with a major trendline (teal line) that's currently being broken and major support/resistance as well. The trendline doesn't look like it'll hold so my next target for ETH will be $800. It's the next major weekly support and the area where I'll start to DCA (dollar cost average). The next major areas of support are $530 and $300 (both areas that I'll be buying at as well). We can see the Whales buy-sell indicator is still flashing a sell (waiting for a buy signal) and the VMC Cipher B indicator is showing a red dot as well indicating more bearishness short term. The RSVP Extractor is starting to flash oversold on the RSI but I'm not holding my breath as there still seems to be more room for the downside. I'm playing these next few weeks super safe and waiting for ETH to either hit major support levels, flash green dots/buy signals on the VMC/Whales buy-sell respectively, or cross over the 200 EMA (green line) to show a shift in the trend. I highly recommend you stay safe in stables such as USDC or BUSD for now until things clear up. Stay away from USDT, USDD, and any other stables that have been volatile in the past. It's a big waiting game now and you don't want to rush into anything until the macro environment improves or we get some positive data (FOMC meeting June 15-16th for interest rate hikes). If you enjoyed my TA or have any questions about the indicators I used, please leave a comment or send me a DM! :)
Short
by CryptoScripts
5
Where Will Bitcoin (BTC) Go From Here? Even though the market has been extremely brutal, there are some key levels I'm looking at to start buying/DCAing into Bitcoin. The indicators I have on the chart are the Whales buy-sell indicator (mine), VMC Cipher B (free), and the RSVP Extractor (mine). I have the Weekly chart up for BTC because that gives the best overall data for buying support whenever you have a downtrend as strong as we've had. As you can see on the chart, the next major level of support is around 19-20k. This was the previous ATH in 2017 so it's obvious why it's a big support now. Along with this, I also have a huge descending wedge draw (teal lines) which is a bullish pattern that usually breaks to the upside. With that said, we can technically ride the trendline support all the way down to 12k which seems horrible (but it only is if you're not ready for it). The big things I'm looking for is a "Buy" signal from the Whales buy-sell indicator, a Green dot from VMC Cipher B and the RSVP Extractor to start curving to the upside. Until then, I will lightly DCA at 19-20k, 16k, 12k, and even 9.5k if we get there. If we do bounce from here, there is big resistance near 25k (previous wick down and 200 EMA) and major resistance at 30k. TL;DR Major support levels for BTC: 19-20k, 16k, 12k, and 9.5k Major resistance levels: 25k and 30k Possible descending wedge forming with major confluence support at 12k If you enjoyed my TA and have any questions about it or the indicators I use, please leave a comment below or send me a DM :)
COINBASE:BTCUSDShort
by CryptoScripts
Celsius (CEL) Short Predicted! With all of the recent Celsius drama going on (their insolvency and halting withdrawals), I'm going to cover some TA that predicted this short and could've saved you some money. Looking at the 3D chart we can see a few things. First, I have the Whales buy-sell indicator and the VMC Cipher B. We can see CEL is clearly in a downtrend by the teal line I drew that's being respected as resistance every step of the way. Secondly, the purple lines are weekly support that are continuously being broken. The Whales buy-sell indicator is great for predicting trends and is something I used in conjunction with the trendline resistance. You can see that multiple times whenever we came up to the trendline resistance, we also received a "Sell" signal. This caused me to enter shorts along the way and ignore any bullish signals I received. It's also more powerful when you receive a red dot on the VMC indicator AND a "Sell" signal at the same time (as highlighted near the beginning of 2022). This price action reminds me of LUNA and I'm not longing CEL at all, especially since I believe the coin will go to 0 soon because of their issues. Both indicators, combined with my TA of trendline resistance and horizontal S/R helped keep me in my short positions and save money. If you have any questions on the indicators I used or my TA, please leave a comment below or send me a DM :)
FTX:CELUSDShort
by CryptoScripts
Called The Top on ETH! In this post I'm going cover the TA and indicators I used to call the short on Ethereum! The current indicators I'm using on the 4h chart are the Whales buy-sell indicator (mine), VMC Cipher B (free), and RSVP Extractor (mine). Looking at our major support/resistance levels, we can see there is Daily resistance on ETH at 2160, as well as Weekly resistance at 1884 and Weekly support at 1397. The first major short opportunity I saw was the Red Diamond indication on my RSVP Extractor (outlined by the first vertical blue line). I saw we were below the 200 EMA so I was only going to look for shorting opportunities and it played out perfectly (shorting ETH at 1980). Next I received another Red Diamond on June 6th and shorted again at 1900. Finally, there were two more shorting opportunities which came with the combination of the Whales buy-sell indicator "Sell" signal and the VMC "red dot" combined, which I love to use together. That was outlined by the green circles I drew. This also coincided with the trend line resistance I drew as well (teal diagonal line). The next major support I'm looking at is 1397 on ETH. We may or may not get there but that will be your best R/R position for a long. There's currently an oversold "Moon" signal on the RSVP Extractor so we could have short-term relief but I'm not holding my breath. If you have any questions about the indicators I use or my technical analysis, please comment below or send me a message! Thanks for reading :)
Short
by CryptoScripts