Cryptotrades
#RSI indicator cheat sheet in #cryptoRSI indicator cheat sheet
-Relative strength index
-Momentum indicator
-Measures how fast price moves
Important level(30-70)
Rsi 30:oversold
Rsi70:overbought
Price is above rsi 50=uptrend
Price is below rsi 50=downtrend
-depends on the timeframe
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UNI SmaLL Swing 2 UpsideSideWith UNI experiencing a heavy down trend, living in that over sold territory, it is bond to experience price action to the upside. Therefore, possible re-test of previous resistance/support region @ $3.47, then bounce to the upside. Moreover, this sub $3.50 level is a nice entry point to go long. Once the sell pressure of the UNI air drop is at a minimum, we can see more price action to the upside due to UNI farming and the continuation of Uniswap increasing numbers in liquidity. Uniswap is paving the way token accessibility that many larger well-known exchanges are try emulate
ADA weekly longIf you like my TA or other ideas, please leave a like to show support. It helps me out a lot
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- Cardano touching weekly support from early 2019.
- Hidden bullish divergence on the RSI
Entry: 1200 - 1220 sats
SL: 1985 - 1200 sats
TP 1: 1495
TP 2: 1792
Has LTC finally seen the light?LTCUSDT
LTCUSDT is an interesting one for me at the moment. Although we’ve been in a downtrend for some time, we have mostly remained above the 50% channel line other than a few large dumps along the way. This is usually a bullish sign.
The other thing to note is that we are currently trending sideways after a long bearish period - this also usually indicates a change in momentum could be on it’s way.
If we can get a break above resistance that also closes us outside of this channel, creating a HH, I will consider opening a long as we have already created a HL so if this follows a HH this will give me confidence that we have found the bottom for now.
BTC on the edge of another sharp move📉 Daily Bitcoin chart review 📈
BTC volume drop to minimum. Price is below all moving averages, forming bear flag. Nothing in this chart is bullish except volume distribution, which hints dips were bought but not yet sold. I've also added trendlines to show where main zones of shorts and long orders hide - obviously above and below them.
What's next? Anything 😎 Dump to ~8500 / 7100 or pump to ~9500 / 11400. Have no magic ball for that chart.
🟥 9300 - 9450 - 9600 - 9745 - 9880
🟩 9050 - 8888 - 8666 - 8530 - 8300
😱 Fear & Greed index: 43 (<= 40 <= 43 <= 50)
👑 BTC Dominance: 64.5% (<= 64.4 <= 64.4 <= 64.6)
⚙️ 24h Volume: $57 billion (<= 73 <= 73 <= 63)
Bitcoin (BTCUSD - Bitfinex) - Updated EW countBitcoin (BTCUSD - Bitfinex) has completed WXY instead of ABC mentioned in earlier updates. The choppy WXY correction having ABC in Y wave was over yesterday as three wave movement and a sharp rally thereafter indicates the change of direction. It is about to over A five wave up move from last bottom with one more minor high in 3 min time frame, thereafter B wave correction will start moving down. The fall in B wave will be good entry for wave C wave. Keep eye on invalidation level to retain the count.
Prepare for dip buys
ETH met resistance at 254 and dumped together with BTC. Still within an uptrend, but possible retracement to ~215 support. That would be first entry for long. Next at ~205 and if drop lower, deepest support at ~175.
I'm bullish for BTC/ETH this year, so question is from how deep it will be possible to enter new bullish race.
ETH bull flagEthereum broke out triangle at day timeframe. Bull flag. Also it has double bottom at day timeframe. Two scenarios I see from here.
1) Either 245 support hold the price and ETH pump from current bull flag up to 265 - 275.
2) Or it falls back to 230 - 221.
In both cases bullish. I prefer to wait for retracement.
🎯 Resistance 253 - 256 - 260 - 265 - 275
🛒 Support 245 - 239 - 236 - 230 - 221
Potential Bitcoin trend reversal
Bitcoin haven't yet lost the trend, but its doing same dip as it did several times before, and as we know, the more times SR/trendline is tested, the weaker it becomes. So I turn bearish and recommend accumulation of short position by ladders from 9500 / 9640 / 9740 (if you haven't used wick to 10k zone, which was a perfect short entry). Targets 8900 / 8666 / 8450 / 8000.
🟥 9500 - 9640 - 9740 - 9850 - 9970
🟩 8900 - 8666 - 8450 - 8000 - 7700 - 7200
😱 Fear & Greed index: 38 (<= 52 <= 54 <= 52)
👑 BTC Dominance: 64.9% (<= 64.7 <= 64.8 <= 64.7)
⚙️ 24h Volume: $108 billion (<= 83 <= 75 <= 74)
Back above 10k again📉 Daily Bitcoin chart review 📈
Bitcoin broke out 9700 resistance and pumped to 10444. Today cool down. Next move either down to 9700-9800, or second leg up from bull flag. Nearest strong resistance at 10750. Next will be at 11555 and 12340.
Resistance: 10444 - 10555 - 10777 - 11555
Support: 9970 - 9750 - 9444 - 9222
😱 Fear & Greed index: 56 (<= 50 <= 51 <= 48)
👑 BTC Dominance: 65.5% (<= 65.2 <= 65.2 <= 65.6)
⚙️ 24h Volume: $125 billion (<= 102 <= 110 <= 104)
P.S. What is it, the fall of US dollar or growth of BTC, I don't know. Its all connected and moves together.
BTC at important support, but bearishBTC landed on important support. Today we may expect it to bounce back to previously broken SR at ~9200-9300. What happens next depends on how bullish will be that bounce and retracement after it. Looking at bigger picture in case of bearish scenario Bitcoin may easily fall to 8500-8600 and in one more week to 7700 (if 8k won't hold the dump). But if current bounce will give some volume, King may avoid that bearish retracement and stay above 9k. For now trade range stands at 8800 - 9300.
Resistance: 9100 - 9230 - 9400 - 9600
Support: 8900 - 8740 - 8630 - 8540
Yesterday post (see previous reviews): (if) 9200 support break down and price drops to the next support levels at 9100 / 8900 ✅
ETH double bottom with bullish potentialIf you followed my last review, which I posted on May 6th and kept on filling with new forecasts till yesterday, you could have made a fortune =) Predicted bottom almost 100% precise.
Now that the bottom is formed, time to consolidate and grow. And today I saw news, saying VISA filed an application to create digital currencies with the United States Patent and Trademark Office, citing #Ethereum as the possible network. So that is very bullish for ETH.
As I wrote yesterday, if ETH fail to grow above 22000, it may form a consolidation channel between ~20700 and 22000. In this case buy longs from 20700-21050 support zone. That is one of possible scenarios.
Another scenario is ultra bullish - ETH price bounce from 21800 support and continue growth. Not the safest long entries here, but its a bull flag until it proves the opposite, so with cautious approach not a sin =)
Some additional charts. Below is day chart with Ichimoku Cloud. As you can see, its not yet bullish. In fact, very dangerous. But that cloud above act like magnet, so price will be attracted to it until its form change. That also means that here we have a potential double bottom, but since we don't see higher low yet, its early to celebrate the bull run. So as I said, safer entries are from 207-210 zone. Anything above is a risky approach catching breakout that might not happen.
BNB getting close to major support
I guess we all want to know when CZ will stop dumping his coin, buy enough and finally let it grow. Assuming that Binance suppose to be such a good exchange, maybe even one of the best exchanges in the world, the only reason for BNB to perform that bad is because owner want to accumulate it back (which is an old but proven fact - CZ dreams of buying back as much as possible). So what we have now. Support at 16500 is the strongest around, but since it was already tested, we may see wick down to 15500 zone. These zone may be considered as good ones for long entries.
P.S. Same zones mentioned above will be the last ones, where BNB can be easily reversed. Falling lower will push it much lower to 12800 - 11000. And turn it very dumpy coin.
🛒 Support 17000 - 16500 - 15700 - 15300
🎯 Resistance 18000 - 19000 - 19555 - 20850
BNB h&s or pumpLast post targets reached =)
Now BNB is under 15.7 SR zone, which makes it possible to form head and shoulders bearish pattern followed by dump to 14.28 / 13.70 support. Pivot at ~15.5. Arrows show possible direction - doesn't have to fit exactly the way it is drawn.
🛒 Support: 15.47 / 15.0 /14.3 / 13.7
🎯 Resistance: 15.7 / 16.0 / 16.5 / 16.9
ETH falling but the end is near
Ethereum didn't hold neither above 255 nor 250, although it stayed above that support zone for another 6 days. Drop below 250 caused sharp bearish move and started the fall. As it goes, price can all to green support zones within several days. Watch for these zones as they may bring a good bounce.
Support at 22525 might bounce if BTC will start retracement now from ~9250 zone. But BTC in uptrend, and betting against bullish BTC is same risky, as shorting on 2/3 to strongest support.
April 23rd post: While ETH stay above 255 it is very bullish. But fall to 250 also won't kill its bullishness too much.
🎯 Resistance 22525 - 23020 - 23600 - 23900
🛒 Support 21830 - 21515 - 21050
BTC retracement time
Starting a new TradingView "page" as previous bullish move has temporary ended. Won't call it "SHORT", as I'm really bullish for BTC and this is only a short term retracement that will be followed by dip buys and another bull stage.
Now Bitcoin came back to next strongest support zone at 9600 and last 4H candle touched EMA21. That was our first short target ✅ Now bounce to 9730-9800. Possible after the bounce BTC will slip lower to 9420 and 9230. Bounce from ~9420 would be very bullish, as it won't break the trendline.
News sell off was logical, since after hitting 10k BTC appeared in global news again. But as it overgrown March dump level, no doubt King is reversing towards bull trend at macro. Let it drop, buy the dips and enjoy alts while they have small relief rally.
May 8th post: But be careful. Don't go long blindly - nothing grows without pullbacks. And BTC haven't tested previously broken SRs at 9600 / 9450 / 9230 yet.
Resistance: 10090 ✅ 10550 - 10767 - 10962
Support: 9600 ✅ 9450 - 9235 - 9030 - 8900
😱 Fear & Greed index: 56 (<= 55 <= 49 <= 42)
👑 BTC Dominance: 67.2% (<= 67.9 <= 67 <= 66.2)
⚙️ 24h Volume: $162 billion (<= 201 <= 164 <= 145)
ZRX To 0.28?? Another H&S Pattern forming Hope all of you are well and staying safe! Don't forget to social distance! 🧍🏽♂️--(6ft)--🧍🏽♀️
Looking at the chart, my last analysis was short. But looking at the 1 day chart again with a fresh cup of joe, I am long. There is a Downward-Channel ZRX has been in for some time. This channel has replicated a head-shoulders pattern consecutively. Are we seeing another repeat of this trend? The RSI is clearly showing exactly the same pattern as every H/S prior, as well the moving averages have crossed at exactly the same time in the forming H/S as the one before it. So it seems there might be a repeat for the fourth time.
If we reach the top of the channel, the region that is red is where a sell off will occur, a good short position?? Possibly.
My prior analysis failed to see the bigger picture, so while only time will tell, I feel far more confident in this analysis than the last.
Just an interesting thought, let me know what you guys think! Please do not trade based on this idea.
Thanks for reading!
- Max K.