Cryptocurrencies
Head, shoulders, knees and toes, knees and toesBTC could be singing "head, shoulders, knees and toes" song soon.
Take a look at the structure, the RSI, and the Fib levels. It all matches my previous ideas.
Also, we have to consider the idea that we're not in 2024 yet, the year of the halving.
This is not financial advice.
LUNC (Luna Classic) - BUY & HODLI am buying and adding Classic Luna (LUNCBUSD , LUNCUSDT , LUNAUSD).
It went to the Moon and then came back to Earth.
Yeah, they pulled the rug or whatever, but it has potential.
Moreover, it has proven to have a pulse, still..
So, I have bought millions, and will continue to stack LUNC.
Where: a good level IMO is 0.000115 .
Some Technicals:
* Support Trend-Line
* Running Flat
* Ending Diagonal
* Fibonacci Retracements
I've been meaning to sync the Crypto Markets' next Bullish Cycles.
The Fibonacci Time Zones point me to early '23 as a potential start.
Stay safe & HODL!
ETHEREUM Targeting the 1D MA200Ethereum (ETHUSD) is trading within a 6-month Channel Down pattern with the price breaking above the 1D MA50 (blue trend-line) yesterday. The short-term pattern is a Megaphone within the Channel Down whose Lower Lows come in direct contrast with the Higher Lows of the 1D RSI. Thus we have a significant RSI Bullish Divergence which is holding since the August 17 Low.
The Higher High projection of the Megaphone coincides perfectly with a potential 1D MA200 (orange trend-line) test. The target is 1755.
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Decentraland dump incomingUnlike what people thinks, Bitcoin is in the supply zone, what means that it still has to go down towards 20-22K before the bullrun starts.
As all coins follow Bitcoin, Decentraland has to dump around 30% despite the upcoming event.
Decentraland is following a parallel channel, so it is at or below 0.19 dollars the perfect zone to buy.
Not financial advice.
Bitcoin(BTC/USD) Daily Chart Analysis For Week of Oct 20, 2023Technical Analysis and Outlook:
This week, Bitcoin saw a surge in price, reaching Inner Coin Rally 29300 and Mean Res 29700. The next target is the Inner Coin Rally 30900 and a retest of the completed Outer Coin Rally 31700. However, it is essential to note that there may be some intermediate pullbacks along the way with the main target Mean Sup 29000.
Textbook bull trapThis is a well-known bull trap that whales use to earn money.
1st phase:
They pump price hard, a big candle appears and people FOMO in.
2nd phase:
They sell with benefits and people FUD, making price crash.
Down there, whales accumulate again before pumping price again.
3rd phase:
The 1st phase is repeated, they sell again up there with benefits and let it crash again so people sell everything and repeat in some days/weeks/months.
It's during the 3rd phase that some people don't sell thinking that it will keep pushing up but it doesn't, making them sell at a huge loss, crashing price even harder. This bull trap is the beginning of a big crash. Get ready.
*Not financial advice.
Flight to safe-haven, and price action growing erratic
In the previous idea about Bitcoin, we emphasized the need for quick action in regard to cutting a short position with a breakout above $28,000. By now, this should provide one’s cryptocurrency portfolio with protection from the volatile whipsaws and allow for a calm reassessment of the situation. Rising volatility and resumption of the weakness in the stock market caused the flight of capital to gold and Bitcoin in the past few days, though the fake news about the SEC approval of Bitcoin Spot ETF had a massive impact on Bitcoin’s price as well.
What’s really interesting about this whole sequence of events is that we highlighted a suspicious rise in the number of Bitcoin addresses with more than 100 BTC in the balance early on Monday. We also outlined similarities to previous situations in April 2023 and June 2023 when we saw very nearly identical activities among Bitcoin addresses (with medium-sized and large-sized addresses seemingly pushing the price aggressively higher in very short time intervals, and later, once the price reached a new high, unloading to retail). Only a few hours after publishing our article, fake news broke out, and we saw an abrupt jump in the price of Bitcoin and many other cryptocurrencies.
Many people called the recent events a run to safe-haven assets (which we arguably can identify Bitcoin as well in certain situations; for example, like in March 2023, when the implosion of regional banks caused commercial deposit outflows and subsequent rise in the price of crypto). That would be yet another sign of Bitcoin slowly maturing as the asset class it was designed to be. However, as positive as that is, we want to remind our audience that this “run to safe-haven” behavior was also observable in gold at the end of 2021, after the market started to fall. But then, at some point, this safe-haven function turned into selling gold for profit to cover losses elsewhere. We think there is a high chance we will see the same thing if the stock market continues to sell off and severe panic sets in. As a result, we consider it proper to wait a bit longer before taking action.
Illustration 1.01
The picture above displays the daily chart of BTC.D (Bitcoin’s dominance).
Illustration 1.02
Illustration 1.02 shows the safe-haven behavior of gold relative to the performance of SPX in late 2021 and 2022.
Technical analysis gauge
Daily time frame = Bullish
Weekly time frame = Bullish
*The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITCOIN Overbought but it doesn't matter!Bitcoin (BTCUSD) is rising strongly today, against the majority's sentiment which after the ETF fake news earlier, was calling for (much) lower prices. We are almost on Monday's High, with the 1D RSI overbought above the 70.00 territory, but that may not matter at all, in case you are expecting a technical correction.
Assuming the 1 year pattern is a Channel Up, the current rise is the technical bullish leg towards a new Higher High. It is supported by the 1D MA50 (blue trend-line) and now by the 1D MA100 (green trend-line) as well. The previous bullish leg was also confirmed after breaking above the Lower Highs trend-line but didn't stop despite turning overbought on the 1D RSI. On the contrary it needed to form a Bearish Divergence of Lower Highs, before the first pull-back took place.
As a result, we don't expect a correction now, despite the overbought RSI but rather will wait for at least 3 Lower Highs, in order to take profit and wait for a 1D MA100 correction. That will be the buy with which we will target a symmetrical Higher High at 35500 on the 1.5 Fibonacci extension.
But what do you think? Does it matter that BTC is overbought or not and we will see much higher prices now? Feel free to let us know in the comments section below!
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STXUSD above the 1D MA200 after 3 months!Stacks (STXUSD) broke above the 1D MA200 (orange trend-line) for the first time since July 20. Our target last time (see chart below) on September 19 was 0.65000, which is the 0.618 Fibonacci level:
The price is now on important crossroads. If the 1D candle closes above the 0.618, we will buy again and target the previous High at 0.89000. On the first closing below the 0.618 Fib though (or if it never closes above the 0.618 in the first place) we will sell and target the 1D MA50 (blue trend-line) at 0.52500.
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BITCOIN 7 months of PAIN coming to an end??Bitcoin (BTCUSD) broke this week above the 1W MA100 (green trend-line) for the first time since the weekly candle of May 02 2022. The weekly candle closing is of particular interest as the price has quickly pulled back so far below the 1W MA100 (cointelegraph's fake news tweet). If it closes above it, then we may finally see an end to BTC's painful 7-month consolidation that is loosely supported by the 1W MA50 (blue trend-line).
Along with the 1W MA100, we may also get a huge bullish signal from the 1W RSI, which broke above its Lower Highs trend-line (that is in effect throughout the whole consolidation), and if the week closes above it, will give the early buy. An emerging Bullish Cross on the 1W MACD, will come as the icing on the cake to confirm the bullish break-out.
But what do you think? Do you think this 7-month agony is about to end on this week's closing? Feel free to let us know in the comments section below!
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BICO/BTC - Biconomy: Failure_Swing◳◱ We've detected a Failure Swing pattern on the OMXSTO:BICO / CRYPTOCAP:BTC chart. This pattern is a bullish indication and could indicate a potential trend reversal. The next resistance key levels are at 0.00000815 | 0.0000085 | 0.00000921 and the major support zones are respectively at 0.00000744 | 0.00000708 | 0.00000637. It is a bullish indication and we may consider buying at the current price zone of 0.00000732 and targetting higher levels.
◰◲ General info :
▣ Name: Biconomy
▣ Rank: 207
▣ Exchanges: Binance, Hitbtc
▣ Category/Sector: N/A
▣ Overview: None
◰◲ Technical Metrics :
▣ Mrkt Price: 0.00000732 ₿
▣ 24HVol: 0.796 ₿
▣ 24H Chng: 2.954%
▣ 7-Days Chng: 0.84%
▣ 1-Month Chng: -0.52%
▣ 3-Months Chng: -10.07%
◲◰ Pivot Points - Levels :
◥ Resistance: 0.00000815 | 0.0000085 | 0.00000921
◢ Support: 0.00000744 | 0.00000708 | 0.00000637
◱◳ Indicators recommendation :
▣ Oscillators: NEUTRAL
▣ Moving Averages: SELL
◰◲ Technical Indicators Summary : SELL
◲◰ Sharpe Ratios :
▣ Last 30D: 0.55
▣ Last 90D: -0.24
▣ Last 1-Y: -0.32
▣ Last 3-Y: -0.54
◲◰ Volatility :
▣ Last 30D: 1.04
▣ Last 90D: 0.87
▣ Last 1-Y: 0.93
▣ Last 3-Y: 1.54
◳◰ Market Sentiment Index :
▣ News sentiment score is N/A
▣ Twitter sentiment score is N/A
▣ Reddit sentiment score is N/A
▣ In-depth BICOBTC technical analysis on Tradingview TA page
▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated!
◲ Disclaimer
Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk.
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BLURUSD: Strong bullish breakout over the Falling Wedge BLURUSD crossed today not just over the 1D MA50 for the first time since July 14th but more importantly the top of the Falling Wedge pattern that has never been broken in its history. This turned the 1D timeframe technically overbought (RSI = 70.700). Since however the 1D MACD is on a Bullish Cross under the 0 neutral level, which means that it was massively oversold for a long time and the 1D RSI itself is on a massive Bullish Divergence, we may not see a pullback just yet.
It is more likely to hit the 1D MA100. A candle close over it, will be the bullish entry to look for for the medium term. Target the R1 level (TP = 0.39500).
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BTCUSD: Another 6 months of sideways trading. Then...BTCUSD is on a bullish 1D technical outlook and more importantly yesterday's rise pushed the 1W timeframe into technical buy levels (RSI = 55.657, MACD = 575.600, ADX = 23.863). This is more than encouraging as it keeps Bitcoin in Bull Cycle territory, over the 1W MA50. What we should be using as a benchmark is the Halving event. Next one is estimated to be in April 2004, while those prior where on May 11th 2020, July 9th 2016 and November 28th 2012.
We are 24 weeks-168 days before the 2024 Halving. At the same time range before all past Halvings, Bitcoin has been on the 1W MA50 at least. This is why it is very uncouraging that we haven't crossed under it despite basically being sideways for 6 whole months. At the time of the past Halvings, the price was at best (historic max) -47.49% from the ATH at the time and at worst (historic low) -60.57%. This provides an estimated price range at the time of the next Halving between 37200 and 27500.
That means that most likely we have another 6 months of basically sideways action ahead of us until the April 2024 Halving. Then it should take almost as much time to reach the 69800 ATH.
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