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UNI 22% upside incoming ?!! 💎 #Uni has shattered its long-standing support level and the lower limit of a triangle formation, indicating a likely extension of the bearish trend 📉 However, there's a crucial element to take into account. The price discovered support on the descending trend line, coupled with a bullish divergence on the MACD indicator, hinting at a possible rebound 🔼 We're looking at two potential scenarios: 1️⃣ A consistent drop following the breach of the last low 2️⃣ A pullback to the trend line prior to recommencing the downward trajectory Remember, ParadiseFamilyVIPs, in the ever-evolving crypto landscape, staying informed and adaptable is key. Stay tuned for more updates and happy trading!
CRYPTOCAP:TOTAL2Short
by MyCryptoParadise_Simon
55% upside target I called for Eth Classic is within reach.You can go through my previous ideas but about an hour before the breakout I posted that up to a 55% move was imminent for Ethereum Classic, which was largely trading sideways for a while after being bearish for a long time. I’ve been posting bits and pieces of how the fundamentals are changing even just from all the new development teams releasing projects lately, not to mention record wallet addresses and more transactions than Doge and BCH. Anyways, we have seen an increase of 47-48% over the past two days, and there are two patterns in play in confluence with my 55% target- an ascending triangle we broke out from, and a bull flag (a lil ugly but it works) with a pole measuring almost exactly to where my original target was from the huge triangle pattern it broke out of starting all this off. Current price= $38.40/coin target is around $42.40/ coin and then there is always FOMO and short covering with ETC. I t went from $30-$180 last May, and last year around this time it went up around 65% in a few days while BTC was stagnant or red. This is feeling like both of those times. Already crushed through the last fib target in between current price and price target, and it should serve as a support if there’s a drop in the market, but I wouldn’t count on it given how fast it has gone up. 3 months of gains in less than 3 days. Not financial advice. Also ETC getting bullish usually precedes entire market crashes. WAtch your other coins. Not even joking.
COINBASE:ETCUSDLong
by BrianVS
2
OMG showing signs of reversal at the lowsOmisego (OMG) has been trending down since announcing their USDT integration back in August 2020. Price has returned to the lows that marked the breakout point of the previous bullish cycle. Confirmed divergence on MACD and RSI on the daily. Buy volume is picking up at these levels, indicating that buyers have once again taken interest in this token and are putting a floor in the market. With BTC dominance rolling over and ETHBTC confirming another bullish close on the daily last night, this one looks primed to join the party sooner or later. Any break of the lows would invalidate this idea. We've outlined some resistance levels above where we expect to see consolidation on the way back up.
OLong
by HxroLabs
3
BITCOIN - New LOWER LOW (LL)The price has made a first Lower Low (LL) since February 2019! Yes, this constant growing without any significant lower lows has been going on for so long. I hope that you saw my yesterday's post where I warned you that this may occur. The first sign was a Lower High (LH) and the final warning came after the 1H candle got a close below the trendline. This trendline was a part of the chart pattern called Rising Wedge. Rising Wedge is a bearish chart pattern and it has started to work after the breakout and it supports my correction bias. The Daily candle still managed to close above the $8,000. It can be a little hope for the bullish bias owners because at the moment the price is in the bounce area. Around $7,800 matching some reversal criteria but not so significant. In Forex, those criteria are probably solid to enter into the trade but in Crypto, we have to consider one of the most important factor - the panic. A high count of traders waited for a correction and here are the first bigger steps into it. A said before, the Lower Low (LL) has confirmed and it is confirmed on the 4H chart - candle close below the $8,000 and it is lower than the previous HL (logical). The 4H chart confirmation, a breakout from the bearish chart pattern are enough to say that the short-, mid-term bias is bearish. I said that this could be a bounce area but still, I can't say it surely because below the current price is much more reliable rejection areas for short-term trades perspective. The minor support area around $7,500 - Previous support area, which has played a role on the trendline (Rising Wedge bottom line) touches. - The psychological number $7,500 should act as a support level. Not so significant as the full round numbers but still worth to mention it. - 4H EMA 200 acts as a support level. - Fibonacci retracement 38%, pulled from 25. April low to the 30. May high. - Fibonacci retracement 62%, pulled from 17. May low to the 30. May high. As mentioned, a minor bounce area. Some of the criteria matching in this first/higher blue area but the waves from the top don't visually look very good and logical that this can hold the price. A bullish candlestick pattern would be perfect, other ways I don't rely on this level. The major support area $6,500-$7,000 Yes, a pretty wide range but it is what it is, here are the criteria: 1. Fibonacci retracement 50% ~$7,000 2. Fibonacci retracement 62% ~$6,540, both are pulled from 25. April low to the 30. May high. 3. Fibonacci retracement 38% ~$6,820, pulled from 15. Dec. 2018 low (from the bottom) to the 30. May high. 4. The round number $7,000 and even $6,500 5. Daily EMA 50 should act as a support level. 6. The known strong price level at $6,700 7. Previously worked support and the area where may have a lot of buyers. 8. Chart pattern Rising Wedge breakout target is pointed exactly into the lower blue box. 9. Historically, some Monthly lows and highs have been in this area. -* Some sloppy curve trendlines are also in this area which gives a little support but nothing significant. SUMMARY : At the moment, before today's candle close, before data collecting from the current levels, etc., I can say that the major support area stays around $6,500-$7,000. Before that, I will be really cautious and I recommend it to you also. We might get a bounce here at $7,800 but for me, the short-, mid-term bias has changed into a bearish because of the breakout from the bearish chart pattern Rising Wedge and because of the Lower Low which has been unique since February. If there is something strange going on than I will warn you! Feel free to support my effort by hitting the "LIKE", it is my only fee from You! Best regards! Previous analysis:
COINBASE:BTCUSD
by VaidoVeek
12