Get started

Cryptocurrencyanalysis

BTC Daily TA Cautiously BullishBTCUSD Daily TA Cautiously Bullish. Recommended ratio: 70% BTC, 30% Cash. * US July Manufacturing PMI was reported today and showed a slight slowdown in manufacturing activity dropping from 52.7 last month to 52.3 this month; this sent Equities and Cryptos lower but again helps confirm that the Fed is being effective in reducing demand as a means of curbing inflation. California now accepts cryptocurrencies for campaign donations . FTX is in talks to buy South Korean crypto exchange Bithumb . Bitcoin is at a critical juncture as it currently tests the 200 MA as support for the first time since April of this year. The Merge expected in September will likely continue to have a bullish effect on cryptos through the rest of this month and most of August.* Price is currently testing the 200 MA as support at $22.8k after being rejected at $24180 minor resistance on the first test. Volume is Moderate and currently on track to favor sellers for a third consecutive session at this critical resistance, this is mildly bearish. Parabolic SAR flips bearish at $19.7k, this margin is neutral at the moment. RSI is currently testing the 50/50 uptrend line from 11/18 as support at 57 support; the next support is the descending trendline from January 2021 which would coincide with the uptrend line from 06/22 at ~48. Stochastic crossed over bearish in today's session and is currently trending down at 93, it is still technically in the 'bullish autobahn' but if it falls out then the next support is at 78. MACD remains bullish and is currently trending up slightly at 200 as it begins to form a soft peak just below 313 resistance (critical). ADX is currently flatlining at 23 (a sign of bottoming) as Price is attempting to keep the bullish momentum going, if ADX starts to go up in conjunction with Price this would be bullish; and if it starts to go up and Price goes down, this would be bearish. If Price is able to defend support at the 200 MA ($22.8k), it will have to break above $24180 minor resistance before it can retest the descending trendline from November 2021 at $30k as resistance. However, if Price loses support at the 200 MA ($22.8k), then it will likely retest $20k psychological support and/or $19417 support . Mental Stop Loss: (one close below) $21.6k.
COINBASE:BTCUSD
by dailytaguy
2
ETH Weekly TA BullishETHUSD Weekly bullish. Recommended ratio: 95% ETH, 5% Cash. *Cryptos took a brief dip yesterday after news that Tesla had sold 75% of their Bitcoin holdings (~$936m) due to fears of China's Covid lockdowns (Tesla has a Gigafactory in Shanghai) and a need for cashflow. This came as a shock to the crypto community because in 2021 Elon tweeted that "Tesla has diamond hands". Ethereum is now up 86% from the local bottom ($875) on 06/13, and is now down 66% from its ATH ($4800) compared to being down 82% on 06/13. With the Merge currently scheduled for a September launch (~09/12/22) , this should continue to drive ETH higher in a "buy the rumor, sell the news" type of long trade. DXY appears to be undergoing a bearish correction, adding bullishness to money markets as Cryptos, Equities, the Euro and Gold are seeing a pick up in buying pressure. The ECB also raised their central bank interest rate for the first time in 11+ years by 50bps, it is now 0% amidst rising inflation; compared to how the Fed has responded to inflation, this rate hike was dainty considering the looming energy crisis due to Nord Stream's reduced capacity going forward for 2022.* Price is currently attempting to break above $1408 resistance with hopes of flipping it to support; this is after defending a crucial support at the uptrend line from June 2020 (which coincided with the 200 MA) at ~$1200. Volume is currently Moderate (high) and on track to favor buyers for a third consecutive session if it can close this week's session in the green, this is bullish! Parabolic SAR flips bullish at ~$3350, this margin is bullish! RSI is currently trending up at 38 with no sign of peak formation as it test 37 resistance. Stochastic remains bullish and is currently trending up at 33 with no signs of peak formation as it tests 27 resistance, the next resistance is at 52. MACD remains bearish and is currently trending up at -500 as it attempts to complete a trough formation, if it can cross above -420 it would be a bullish crossover (and the first time MACD would be bullish since before December 2021). ADX is currently trending sideways at 33 as Price pushes higher, this is neutral at the moment. If Price is able to close above $1408 resistance in this session and next, it will likely test $1944 resistance before the Merge. However, if Price breaks back down below $1408 resistance (still resistance until Price reclaims support) , it will likely retest the uptrend line from June 2020 at ~$1200 before potentially heading lower to retest $1k psychological support. Mental Stop Loss: (one close below) $1200.
COINBASE:ETHUSD
by dailytaguy
ETH Daily TA Cautiously BullishETHUSD Daily cautiously bullish. Recommended ratio: 85% ETH, 15% Cash. *MINOR CORRECTION WATCH. Ethereum continues to rally (and should continue to leading up to September) on news that the Merge is likely to be ready for launch on Mainnet 09/19/22. Cryptos continue rallying as Equities are entering a big earnings season and recession fears are being allayed by Putin saying Russia will reopen the Nord Stream pipeline (albeit potentially at lesser capacity) . Yesterday, Congress passed the CHIPS for America Act granting $52b in government subsidies to advance the semiconductor industry in the USA, this briefly boosted chip and tech stocks. Though this still qualifies as a long overdue technical relief rally, it's important to note that Ethereum has reclaimed support of the descending channel from October 2021; because of this it's technically unlikely for ETH to retest $1k until after August if it were to.* Price is currently forming a Bull Flag as it trends down at $1500 after briefly touching $1600, the next resistance (minor) is at $1711. Volume remains Moderate (high) and is currently on track to favor sellers for a second consecutive session if it closes today's session in the red; this would increase the odds of a minor correction to $1427. Parabolic SAR flips bearish at $1127, this margin is mildly bearish at the moment. RSI is currently trending down at 63 after forming a peak at 69 (just below the 50/50 uptrend line from November 2018), the next support is the descending trendline from February 2020 at 55 support. Stochastic remains bearish for a second consecutive session as it trends down at 92, the next support is at 81. MACD remains bullish and is currently trending up at 52 with no signs of peak formation as it continues to make a strong case for flipping 28 resistance to support. ADX is currently trending up slightly at 31 as Price pushes higher, this is mildly bullish. If Price is able to continue up here without touching $1427 first, it will likely test $1711 minor resistance (which will be a critical resistance). However, if Price isn't done completing the Bull Flag, it will likely test $1427 support . Mental Stop Loss: (one close below) $1321.
COINBASE:ETHUSD
by dailytaguy
BTC Daily TA Cautiously BullishBTC Daily cautiously bullish. Recommended ratio: 80% BTC, 20% Cash. *Cryptos continue to enjoy a rally largely inspired by Ethereum's anticipated Merge date (09/19/22) and risk beginning to reenter money markets on: news that Nord Stream is reopening; the Fed effectively hindering demand in attempt to ring in inflation; and the DXY finally showing signs of having reached a local top. FTX Founder and CEO Sam Bankman Fried said on July 8th that most of the unwind (deleveraging) in crypto is behind us, this will likely be true if there isn't another liquidity crisis this year (due to war escalation, increased supply chain disruption, etc.). SEC Chair Gary Gensler spoke to Bloomberg TV today and mentioned that there are too many platforms that haven't registered with the SEC yet still are classified as securities and that the SEC will continue to bring "robust enforcement actions" all while being "technology neutral". Bitcoin fell 75% to $17.5k from its ATH of $69k and is currently 35% up from that low; at the current Price (~$23.5k) BTC is still 65% down from its ATH of $69k.* Price is currently testing the 50 MA at ~$23k as resistance just below $24181 minor resistance. Volume is Moderate (high) and currently on track to favor buyers for a second consecutive session and for six of the past seven sessions, this is bullish at these Price levels. Parabolic SAR flips bearish at ~$19k, this margin is mildly bearish at the moment. RSI is currently trending up at 61 as it attempts to reclaim support at the uptrend line from November 2018 at 57; if it can do this, the next resistance is at 79. Stochastic is currently trending sideways at 94 as it continue to barely resist a bearish crossover in the "bullish autobahn", the next resistance is at max top. MACD remains bullish and is currently testing -232 minor resistance, if it breaks and closes above this level the next resistance is at 313. ADX is currently forming a soft trough at 24 as Price pushes higher, this is mildly bullish. If Price is able to break above the 50 MA and turn $24181 minor resistance to support, the next likely target is a test of the uptrend line from March 2017 + the descending trendline from November 2021 at (around) $30508 resistance . However, if Price is rejected here then it will likely retest $19417 support before potentially heading lower to retest the uptrend line from April 2017 at ~$15k as support for the first time since September 2020. Mental Stop Loss: (one close below) $21.6k.
COINBASE:BTCUSD
by dailytaguy
ETH Daily TA BullishETHUSD Daily bullish. Recommended ratio: 90% ETH, 10% Cash. *SUNDAY/MONDAY SCARIES. Cryptos enjoyed a rally for most of the weekend on news that Ethereum's Merge is scheduled for launch on Mainnet around September 19th . This news combined with the lighter tone in the past week from the Fed's Waller, Bostic, Barkin and Bullard, has seemingly lifted markets in the short term. However, a negative catalyst materialized last week when China (the worlds largest fertilizer producer) announced they would put a cap on phosphate exports . This move by China will likely adversely impact global food production and further disrupt supply chains (therefore potentially pushing inflation higher). Key dates this week: Housing Starts and Building Permits report released at 830am (EST) on 07/19.* Price is currently testing the 50 MA as support for a second consecutive session at $1350 after reclaiming support at the lower trendline of the descending channel from October 2021 at $1250; the next resistance is at $1427. Volume remains Moderate and is currently attempting to resume buyer dominance after ending a four day streak of buyer dominance in yesterday's session. Parabolic SAR flips bearish at $1050, this margin is neutral at the moment. RSI is currently trending up at 59 after bouncing at 58, this is just above the descending trendline from February 2020 at 55 support so it's possible that RSI formally tests 55 as support in the near-term. Stochastic remains bullish at max top as it coasts in the "bullish autobahn" (bullish in the near-term). MACD remains bullish and is currently trending up at ~1 as it looks to establish -46 as support, the next resistance is at 28. ADX is currently trending down at 27 as Price pushes higher, this is mildly bullish at the moment. If Price is able to establish the 50 MA as support at $1350, the next likely target is a test of $1426 resistance before potentially heading higher ( $1711 minor resistance ). However, if Price breaks back down below the 50 MA, it will likely formally retest the lower trendline of the descending channel from October 2021 at ~$1100 as support . Mental Stop Loss: (one close below) $1135.
COINBASE:ETHUSD
by dailytaguy
2
BTC Daily TA BullishBTCUSD Daily TA bullish. Recommended ratio: 90% BTC, 10% Cash. *WEEKEND RALLY. Cryptos continue rallying off of news that Ethereum's long awaited Merge is forecasted to be finalized and ready for launch on Mainnet ~09/19/22 . Assuming that the final trial on the Goerli testnet goes well in August, this timeline should be fairly accurate; however, The Merge has been plagued by delays up until this point so take these forecasts with a grain of salt. Meanwhile, the macroeconomic/geopolitical/supply chain situation continues to worsen. This contrast can be unsettling hence the need to continue being vigilant; however, Weekly conditions continue to support the notion that cryptos may be close to a bottom due to extremely oversold conditions.* Price is currently testing the one-month high of $21.5k as resistance and will try to test the 50 MA at $23.5k if the weekend crypto rally can continue. Volume is currently Moderate (low) and on track to both shrink and favor buyers for a fourth consecutive session (indicating that a breakout/breakdown is potentially impending). Parabolic SAR flips bullish at $22k, this margin is bullish. RSI ripped through 42 resistance and is currently trending up at 50 as it tests the descending trendline from January 2021 at 49 as resistance; the next resistance is the uptrend line from November 2018. Stochastic remains bullish and is currently trending up at 96 as it approaches a retest of max top. MACD remains bullish after denying a soft peak formation and is currently breaking out above -869 resistance as it trends up at -622; the next resistance (minor) is at -232. ADX is currently trending down at 25 as Price is pushing higher, this is mildly bullish at the moment; if ADX can form a trough as Price continues to push higher this would be bullish. If Price is able to continue trending up here then it will likely test the 50 MA at $23.5k as resistance before potentially pushing higher to test $24180 minor resistance . However, if Price breaks down here, it will likely retest $19417 support before potentially retesting the uptrend line from April 2017 at ~$15k as support for the first time since September 2020. Mental Stop Loss: (one close below) $19417.
COINBASE:BTCUSD
by dailytaguy
ETH Daily TA Neutral BearishETHUSD Daily neutral with a bearish bias. Recommended ratio: 40% ETH, 60% Cash. *Equities, Cryptos, Commodities, Treasuries, VIX and the Euro all finished today either relatively flat or slightly up; while DXY pushed even higher today signaling that fears of a "technical" global recession are still mounting. The correlations have been muddied all year but financial markets seem to be signaling that a recession is already priced in and that inflation is reaching its peak. However, there is very little evidence to support that the supply chain situation is improving at the moment (China still maintaining 'Zero-Covid' policy and Russia pushing on in Ukraine). According to the Fed , demand issues only account for 1/3 of US inflation and at least 1/2 of it is caused by global disruptions to supply chain; using this logic it would be reasonable to assume that inflation hasn't peaked because the situations in Ukraine and China have not improved while economic conditions around the world are simultaneously deteriorating. Seeing that Cryptos are the most 'Risk-On' asset in the markets currently, there isn't much of a bullish narrative that can be written up at the moment. That said, it would be prudent to remain vigilant during these times.* Price is currently testing the lower trendline of the descending channel from October 2021 at ~$1200 as resistance. Volume remains Moderate (high) and is currently on track to favor buyers for a second consecutive session if it can close today in the green; this is mildly bullish at this critical resistance. Parabolic SAR flips bullish at $1270, this margin is bullish. RSI is currently trending up at 49 after bouncing at 37 support and reclaiming the uptrend line from 06/18/22 at 41; the next resistance is the descending trendline from February 2020 (which coincides with 55 resistance). Stochastic crossed over bullish at 47 support in today's session and is currently trending up at 62, the next resistance is at 81. MACD remains bullish after denying a peak formation and is currently trending up at -63 as it approaches -47 minor resistance; it is also still technically testing -91 support. ADX is currently trending down at 33 as Price pushes higher, this is mildly bearish at the moment. If Price is able to reclaim support at the lower trendline of the descending channel from October 2021 at $1200 resistance, then the next likely target is a retest of the 50 MA just below $1426 resistance . However, if Price is rejected here then it will likely retest $1k psychological support before potentially falling lower to test $776 support for the first time since breaking above it in January 2021. Mental Stop Loss: (two consecutive closes above) $1200.
COINBASE:ETHUSD
by dailytaguy
BTC Daily TA Neutral BullishBTCUSD Daily neutral with a bullish bias. Recommended ratio: 51% BTC, 49% Cash. * SELL-OFF WATCH. The US June CPI report was released this morning and surpassed the 8.8% market consensus estimate with a 9.1% reading (Core CPI exceeded the 5.7% consensus estimate with a 5.9% reading). Cryptos, Equities, Treasuries, and Commodities initially sold off on the news but then came off of intraday lows to close the session flat or slightly up; all while USDX came off of a 20 year high of $108 in today's session . Logically, the Yield Curve (10 yr Treasury note yield fell below 2 yr Treasury note yield) inverted to levels not seen since 2007; which is prompting institutions like Bank of America to call for a 'mild recession' in 2022 . Fed Funds Rate Futures are currently at 97.50, implying that markets expect a 100bps rate hike on 07/27 to get the EFFR (Effective Federal Funds Rate) from 1.58 (current) to 2.5; the current probability of this happening two weeks from now is around 70%. That said, it's still premature to assume that this high-CPI rally isn't a short squeeze because there isn't enough current data to support that inflation has peaked.* Price is currently testing $19417 support after forming a Double Top (Hidden Bearish Divergence with RSI + Stochastic) at $21.5k. Volume is Moderate and currently on track to break a three day streak of seller dominance if it is able to close today's session in the green. Parabolic SAR flips bullish at $22.5k, this margin is neutral at the moment. RSI is currently trending up at 39 after bouncing off the uptrend line from 06/18 at 34, the next resistance is at 42.41. Stochastic remains bearish and is currently trending down as it begins to form a trough at 44. MACD remains bullish but is trending down slightly as it forms a soft peak at -869 minor resistance; if it crosses below -1160 it would be a bearish crossover, the next support is at 30. ADX is currently trending down slightly and is forming a soft trough at 30 as Price is attempting to rally off of $20k, this is neutral at the moment; if ADX is to start trending up as Price goes up, this would be bullish but if ADX continues trending down as Price continues up this would be mildly bearish. If Price is able to defend support at $19417, the next likely target is a retest of the one-month high at $22k before potentially testing $24180 minor resistance . However, if Price breaks down here then it will potentially retest the uptrend line from April 2017 at ~$15k as support for the first time since September 2020. Mental Stop Loss: (one clear close below) $19417.
COINBASE:BTCUSD
by dailytaguy
ETH Daily TA Cautiously BearishETHUSD Daily cautiously bearish. Recommended ratio: 25% ETH, 75% Cash. *Cryptos, Equities, Metals, Energy, Treasuries, and Commodities are all suffering at the expense of a surging USD. The Euro continues to plunge and achieved parity with USD in yesterday's session for the first time since 2002. US CPI report is scheduled for release tomorrow morning at 830am (EST). The Fed only made projections regarding PCE in the last FOMC Projection Materials released on 06/15/22, but the consensus according to the Federal Reserve Bank of Cleveland's Inflation Nowcasting is 8.55%; the current market consensus is 8.6%-8.9% (with Visa and Natixis estimating 8.6% and Goldman, TD, HSBC, Citi and BNP Paribas estimating 8.9%). White House Press Secretary Karine Jean-Pierre stated in a Press Briefing yesterday (07/11/22) that they expect the CPI number to be "highly elevated". If the inflation numbers come in on the higher end (or even higher), expect for a market sell off and for Ethereum to break down below $1k; if it does this, the next support is at $776.* Price is currently trending down at $1045 after being rejected by the lower trendline of the descending channel from October 2021 at ~$1250, if it breaks below $1k psychological support then it will likely test $776 support. Volume is Moderate (High) and currently on track to favor sellers for a third consecutive session, it has also grown in all three sessions; Price is also currently trading in the largest supply/demand zone on the chart . Parabolic SAR flipped bearish in today's session and now flips bullish at $1275, this margin is neutral at the moment. RSI is currently trending down at 35 and is still technically testing 37 support, the next support is the uptrend line from 01/22/22 at ~28. Stochastic remains bearish and is currently testing 47 support with no signs of trough formation. MACD remains bullish and is currently trending down slightly at -70 after forming a soft peak at -63, it's also testing -91 support for the first time since 04/30/22; additionally, if MACD falls below -91 it would be a bearish crossover. ADX is currently forming a soft trough and is trending sideways at 34 as Price falls back down to $1k, this is mildly bearish; if ADX is able to bounce here as Price breaks below $1k, that would be bearish. If Price is able to defend $1k psychological support then it will likely retest the lower trendline of the descending channel from October 2021 at ~$1150 as resistance . However, if Price breaks down below $1k , it will likely test $776 support for the first time since breaking above it in January 2021. It should be noted that Price can fall much lower to ~$400, RSI can support another ~50% drop before reaching its ATL. Mental Stop Loss: (two consecutive closes above) $1150.
COINBASE:ETHUSD
by dailytaguy
BTC Daily TA Neutral BullishBTCUSD Daily neutral with a bullish bias. Recommended ratio: 51% BTC, 49% Cash. * SELL-OFF WATCH . Cryptos look like they may lead the market sell-off if there isn't a bounce at some point in the next session or two. Bitcoin still has yet to test the uptrend line from March 2017 at ~$15k and many analysts are calling for a $13k bottom, sentiment seems to support this more and more every day but until BTC loses $20k ($19417 support) it's not confirmed.* Price is currently trending down at $20100 as it continues to trade sideways in the largest supply/demand zone on the chart at $20k psychological support. Volume is currently Low and on track to favor sellers for a second consecutive session. Parabolic SAR flips bearish at $19k, this margin is bearish at the moment. RSI broke below 42 support and is currently trending down at 38, if it can't bounce here then the next support is the uptrend line from 06/18/22 at 36; if it breaks below here it will likely test the uptrend line from 01/22/22 at ~28. Stochastic remains bearish and is currently testing 78 support. MACD remains bullish and is currently forming a soft peak as it tests -869 minor resistance. ADX is currently trending down at 30 and is beginning to form a soft trough as Price is breaking down, this is neutral at the moment. If Price is able to bounce here at $20k then it will likely retest the one-month high at $22500 before potentially testing $24180 minor resistance . However, if Price continues to break down here it will likely retest $19417 support before potentially retesting the uptrend line from April 2017 at ~$15k as support for the first time since September 2020. Mental Stop Loss: (one close below) $19417.
COINBASE:BTCUSD
by dailytaguy
ETH Daily TA Neutral BullishETH Daily neutral with a bullish bias. Recommended ratio: 57% ETH, 43% Cash. *Cryptos enjoyed a rally to start the weekend but then came the Sunday Scaries (a corrective sell off after a weekend rally), this is typically bullish going into the next week but given the bearish sentiment in markets it may signal that more downside is to be expected. Fed Vice Chair Lael Brainard gave a speech on crypto and DeFi last Friday (06/08) . In it she confirmed that the Fed is still working on a CBDC and that more traditional finance regulations are coming for DeFi ("same risk, same disclosure, same regulatory outcomes") to prevent exploitation, undisclosed conflicts of interest, and market manipulation. She once again stood in support of what crypto has to offer and stated that regulations shouldn't stifle innovation, referring to cheaper + quicker cross-border/remittance payments and collateralized loans. Brainard ended the speech by commenting that perhaps accountability should be shifted to protocol developers and transaction validators; which begs the question of which agency would be responsible for this legislation ( Bureau of Industry Security? Export Administration Regulations? ). Key dates to watch for this week: June CPI report at 830AM (EST) on 07/13 (if it comes in higher than the consensus estimate of 8.8%, expect for a dip in almost all markets).* Price is currently trending down at $1170 after being rejected by the lower trendline of the descending channel from October 2021 at ~$1250 on the first formal test; this not abnormal considering that it is a critical resistance in the largest supply/demand zone on the chart. Volume is currently Low and on track to favor sellers if it closes today's session in the red; the fact that Volume is low makes this rejection weak and Price still capable of a retest/breakout. Parabolic SAR flips bearish at $1015, this margin is mildly bearish at the moment. RSI is currently trending down at 43; the next support is at 37 and the next resistance at 55. Stochastic remains bearish for a second consecutive session and is currently trending down at 85 as it approaches a test of 81 support. MACD remains bullish and is currently beginning to form a soft peak at -62; though it's just below -47 minor resistance it is still technically testing -91 resistance. ADX is currently trending down at 34 and is beginning to form a soft trough as Price is facing rejection, the hint of a soft trough formation is in line with the downtrend but because it is still trending down this is mildly bullish. If Price is able to break out above the lower trendline of the descending channel from October 2021 at ~$1250 , the next likely target is a test of $1427 resistance. However, if Price continues to break down here then it will likely retest $1000 psychological support before potentially testing $776 support . Mental Stop Loss: (one close below) $1135.
COINBASE:ETHUSD
by dailytaguy
ETH Daily TA Cautiously BullishETHUSD Daily cautiously bullish. Recommended ratio: 75% ETH, 25% Cash. * Ethereum has just completed its second (and second to last) Merge trial on Sepolia Testnet and will now have to pass the third and final trial on Goerli Testnet before launching on Mainnet; that said, Core developers still anticipate the Merge to launch on Mainnet sometime in Q3. Fallout from the 3AC default continues as one of the first crypto exchanges in the world, Blockchain.com, announced today that they expect to realize a $270m loss on loans to the over-leveraged and now distressed hedge fund (3AC). 2gether, one of the oldest crypto exchanges in Spain, recently halted operations amidst the downturn in crypto . It's unclear when this massive deleveraging in crypto will be finished but it seems as if a few more liquidations or defaults would be appropriate for Alameda Research (Sam Bankman-Fried) , Tron DAO (Justin Sun) or Binance Labs (Changpeng Zhao) to really start injecting liquidity into the crypto markets.* Price has been consolidating in the largest supply/demand zone for twenty three consecutive sessions and is currently testing the lower trendline of the descending channel from October 2021 at ~$1250 as resistance. Volume remains Moderate and is currently on track to break a two session streak of buyer dominance if it manages to close today's session in the red. Parabolic SAR flips bearish at $1k, this margin is neutral at the moment. RSI is currently trending sideways at 48.50 as it pauses on its way to test the descending trendline from February 2020 (as resistance) at 55.31 resistance. Stochastic remains bullish and is currently on the verge of forming a bearish crossover at max top (where it can coast in the 'bullish autobahn' for some time). MACD is currently trending up at -77 as it tests -91 resistance with no signs of peak formation; the next resistance (minor) is at -47. ADX is currently trending down sharply at 38 as Price pushes higher, this is mildly bullish. If Price is able to break out above the lower trendline of the descending channel from October 2021 at ~$1250 then it will likely test $1427 resistance . However, if Price is rejected here, it will likely retest $1k psychological support before potentially heading lower to test $776 support for the first time since breaking above it in January 2021. Mental Stop Loss: (one close below) $1135.
COINBASE:ETHUSD
by dailytaguy
2
BTC Daily TA Cautiously BullishBTCUSD Daily cautiously bullish. Recommended ratio: 70% BTC, 30% Cash. *Markets seem to think that the Fed has subdued inflation in the short-term, the US Jobs report due to be released on Friday (07/09) should give some clarity as to how much of an economic slowdown is underway and how much more is necessary to ring in inflation. Additionally, the CPI report due at 830am (EST) on 07/13 will also provide clarity regarding whether or not inflation is coming down enough. The latest real GDP growth estimate (07/07) provided by the Atlanta Fed's GDPNow came in at -1.9% compared to -2.1% on July 1st. Celsius celebrates a victory today by paying down the remaining $41.2m DAI left on the Maker loan which freed up 21,962 BTC (~$440m) that was held as collateral. Market's are eager to call for a bottom but with the global economy slowing, global inflation soaring, the Euro crashing, a UK parliament reshuffling, Russia continuing to push west in Ukraine, China prolonging their 'Zero-Covid' policy and supply chains not expected to return to pre-Covid conditions anytime soon... it's hard to say the carnage in 2022 is over.* Price is currently at $20930 and attempting to break out from a twenty three session consolidation at $20k. Volume remains Moderate and is currently on track to favor buyers for a second consecutive session if it can close today in the green (this would also give buyers dominance in four out of the last five sessions). Parabolic SAR flips bullish at $21625, this margin is bullish. RSI is currently trending up at 43 as it tests 42.41 resistance, the next resistance is the descending trendline from January 2021 at ~49 (CRITICAL). Stochastic remains bullish and is currently testing max top where it can coast in the "bullish autobahn zone" for some time. MACD remains bullish and is currently trending up at -1390 as it tests -1435 resistance; the next resistance (minor) is at -869. ADX is currently trending down at 39 as Price pushes higher, this is mildly bullish at the moment. If Price is able to continue up here then it will likely face a bit of resistance at ~$22k before testing $24181 minor resistance . However, if Price breaks down here, it will likely retest $19417 support before potentially testing the uptrend line from April 2017 at ~$15k as support for the first time since September 2020. Mental Stop Loss: (one close below) $19417.
COINBASE:BTCUSD
by dailytaguy
ETH Daily TA Neutral BullishETHUSD Daily neutral with a bullish bias. Recommended ratio: 53% ETH, 47% Cash. *MONDAY SCARIES. Cryptos are rallying today as US equity markets are closed for July 4th. It's still premature to call this a bottom so it's prudent to be wary of a potential Bull Trap.* Price is currently attempting to break out to the upside after testing $1k for eighteen consecutive sessions, confirmation of a short-term breakout would require Price to reclaim the lower trendline of the descending channel from October 2021 at ~$1200 as support. Volume remains Low and is currently on track to favor buyers for a third consecutive sessions if it is able to close today in the green; the Low volume is concerning and adds to risk of a potential Bull Trap. Parabolic SAR flips bullish at $1270, this margin is mildly bullish at the moment. RSI is currently trending up and testing 37 resistance with no sign of peak formation; the next resistance is at 55. Stochastic is currently crossing over bullish at 57, the next support is at 47 and resistance at 81. MACD is currently trending up slightly at -132 after defying its first attempt at a bearish crossover, the next resistance is at -91 and support at -197. ADX is currently trending down slightly at 46.50 as Price is pushing higher, this is mildly bullish; if ADX continues lower as Price goes higher this would become increasingly bullish. If Price is able to continue up here then it will likely test the lower trendline of the descending channel from October 2021 at $1200-$1250 as resistance . However, if Price breaks down here, it will likely retest $1k one more time before potentially testing $775 support for the first time since breaking above it in January 2021. Mental Stop Loss: (one close below) $1k.
COINBASE:ETHUSD
by dailytaguy
BTC Daily TA Cautiously BearishBTCUSD Daily cautiously bearish. Recommended ratio: 30% BTC, 70% Cash. *Global macro conditions are beginning to deteriorate at a faster pace every day, begging the question of when financial markets will have priced in a recession. The insolvency issues beleaguering 3AC and Voyager resulted in forced liquidation, while FTX is bailing out BlockFi with $400m in revolving credit and and option to acquire BlockFi outright for up to $240m , Babel is looking to hire a specialist in restructuring and distressed mergers/acquisitions , and it has yet to be seen what fate Celsius will see but it is not looking good for them (and crypto as a whole) in the near term. It's still premature to call a bottom but Weekly indicators have been oversold for quite some time now so if there is a time to be accumulating BTC for those with a longer time-horizon (5-10 years), now is probably a good time to start Dollar Cost Averaging a bit month-by-month.* Price is currently retesting $19417 support where it has the opportunity to form a local Double-Bottom; however, if it fails to defend $19417 support then it will likely fall to retest the uptrend line from April 2017 (~$15k) for the first time since September 2020. Volume is Moderate and currently on track to favor sellers for a sixth consecutive session if it can close today's session in the red. Parabolic SAR flips bullish at $21.8k, this margin is mildly bullish. RSI is currently trending down at 29 as it quickly approaches a retest of the uptrend line from 01/22/22 as support at 26.50 support. Stochastic remains bearish and is currently trending down at 65; the next support is at 55.55. MACD remains bullish and is currently beginning to form a soft peak at -2055; the next resistance is at -1435 and next support (minor) is at -2497. ADX remains trending sideways at 46 as Price has been hovering above $20k for about a week now; if Price breaks down here and ADX continues up this would be bearish, and if Price bounces here and ADX goes down, it would be bullish. If Price is able to defend $19417 support (which would concomitantly defend $20k psychological support) then the next likely target is a test of $24180 minor resistance . However, if Price breaks down here, it will likely retest the uptrend line from April 2017 at ~$15k for the first time since September 2020. Mental Stop Loss: (two consecutive closes above) $20k.
COINBASE:BTCUSD
by dailytaguy
ETH/USD Daily TA Cautiously BearishETH/USD Daily cautiously bearish. *CPI report came out today... 8.6% inflation reading sent both equity and crypto markets lower, Gold is slightly up on the day.* Recommended ratio: 20% ETH, 80% Cash. Price is currently breaking down below $1711 minor support (still technically retesting it) and looks like it wants to test the lower trendline of the descending channel from 05/11/22 at $1575. Volume remains Moderate (high) and is on track to favor sellers for four consecutive sessions if it can close today in the red. Parabolic SAR flips bullish at $1941 resistance. RSI is currently trending down at 34 and is still technically testing 36.91 support; the next support is the uptrend line from 01/22/22 at 27. Stochastic is on day two of being bearish and is currently retesting 46.76 support. MACD remains bullish but has formed a soft peak and is currently trending down slightly at -125; it would have to break below -140 to cross over bearish. ADX is currently forming a trough and is trending up slightly at 38 as Price continues to fall, this is bearish. If Price is able to bounce from $1711 minor support then it will likely retest the upper trendline of the descending channel at $1815 as resistance. However, if Price continue to break down here, it will likely retest the lower trendline of the descending channel at $1575 before potentially testing $1426 support (which would also coincide with the lower trendline of the descending channel from October 2021). Mental Stop Loss: (two consecutive closes above) $1812.
COINBASE:ETHUSD
by dailytaguy
BTC/USD Daily TA Neutral BearishBTC/USD Daily neutral with a bearish bias. *BTC has been consolidating at $30k for 32 consecutive sessions now and is becoming more bearish every day now.* Recommended ratio: 35% BTC, 65% Cash. Price is currently trending down at $30k after being rejected by $30507, it still has support at the 50/50 uptrend line from March 2017 at $29.5k but if it breaks below that level it would be very bearish. Volume remains Moderate and is currently on track to both favor sellers and shrink for a third consecutive session, implying that a breakout/breakdown is due (leaning toward breakdown). Parabolic SAR flips bearish at $29250, this margin is mildly bearish. RSI is currently trending sideways at 45 where it is testing the uptrend line from 01/22/22 as support. Stochastic is currently crossing over bearish at 77.95 resistance. MACD remains bullish and is currently trending up slightly at -564 as it is beginning to form a peak; it is still technically testing -868 minor resistance. ADX is trending down at 24 as Price continues to hover around $30k, this is mildly bearish. If Price is able to defend support at the 50/50 uptrend line from March 2017 at $29.5k then it will likely retest $30507 resistance before potentially breaking out higher. However, if Price breaks down below $29.5k, the next likely target is a test of $24180 minor support (before potentially falling lower). Mental Stop Loss: (two consecutive closes above) $30507.
COINBASE:BTCUSD
by dailytaguy
2
XRP/USD (D1) - Technical Analysis IdeaCurrently we can see a lot of infos on social media saying that the current market price are now going to the moon based on the recent news regarding the SEC vs Ripple but.... based on supply and demand tech analysis, it really doesn't look like the price is "comfortablely lifting off". Yes, anything can happen but we really need to see candles like Apr 20th 2021 that really have that strong momentum (when all the P.O are filled) and price just when up without any sign of compression or long wick rejections from the supply zones. It MIGHT reject at the D1 supply zone (ref to current price on chart-just above it, there is supply zone). Btw, pls ref to AT LEAST Daily time frame if we really need to analyse whether price will go to the moon or not. DO NOT look at H1 or (even worst) 15min time frame and said, "look, bullish candlestick! it's going to the moon! 4digits XRP percoin, Hooray!!!" ~~~Pls..., don't do that. I've seen this a lot since last year. U really make your self look stupid on social media. *** Disclaimer: not financial advice. For entertainment and educational purposes only.
BITSTAMP:XRPUSD
by Sany_Harun
CAKEUSDT in Buy Zone Area! [Low-risk Setup]Good day, TradingView fellows! I believe $CAKE is testing its support recently. The good buy zone is at $9 to $13. I am anticipating it will hit $18 in the short-term, $24 in the medium-term and $39 in the long-term. This analysis is suitable for swing traders and long-term traders. Entry: $9 - $13 TP 1: $18 TP 2: $24 TP 3: $39 The idea published is not a financial advice. The content of this idea is solely the opinion of me who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. This does not guarantee any particular outcome. Always DYOR (Do Your Own Research) and trade at your own risk. Let me know your insights in the comment section. Give this work a thumbs up if you appreciated my analysis. Smash that follow button for more upcoming low-risk setups! Thank you so much in advance. Good luck, Alexis
Long
by alexisdelayola
2