26.2.2020 - Ether (ETH / USD)Hi Traders!
Today we're looking at the biggest representative of altcoins - ETH. Ethereum is very interesting for several reasons. In the community, transition from POW (proof of work) to POS (proof of stake) is now quite a hot topic. This change is also believed to be due to many miners gone mining ETC (Ethereum Classic) and that was the main reason for its graceful increase.
However, Ethereum is also interesting for another reason. It's currently in the channel and we can say it's consolidating on the TOP now. We have identified two main zones where ETH can come:
1.
0.382 Fibonacci retracement , where the bottom edge of the channel and even strong support is. Many other altcoins have crossed this line today and continue to decrease, but ETH is still holding. This is the first zone where we would think about buying.
2.
0.618 Fibonacci retracement and in this case, it would be up to around $ 184. Yes, these values are also possible.
We believe that ETH will continue to decline and we've also identified two key zones to monitor. But what if growth comes? In that case, we would wait for ETH to exceed the $ 287 threshold. This is the bullish level that we have to overcome if we want to grow further. Until we overcome it, these targets apply.
May the crypto be with you!
Dollero
19.2.2020 - Bitcoin (BTC / USD)Hi Traders!
Today we look at a bit specific bitcoin analysis. It will be about bitcoin but on CME futures exchange. Have you heard of CME gaps?
Many people are starting to talk about CME gaps. How do these gaps actually come to existence? There are two options:
CME doesn't trade futures over the weekend and is off. However, crypto exchanges normally work at weekends, so the first way is that there is a strong movement at the weekend and we open Monday at a totally different value than we closed on Friday.
The second way is that bitcoin simply has such a strong up/down movement that it flies through the order book and creates a GAP.
GAP acts as a magnet on the graph. Many people know about this, but they don't know the logic behind it. In the first case (the weekend), there will be many unfulfilled orders at that point. After a strong movement, the graph later gets tired and still comes after these orders. Of course, this does not work 100%, but in the vast majority of cases, it does.
We currently have a GAP blank at a level of $ 8,500. It's extremely difficult to determine whether this gap is filled or not. There came a wick, but exactly to the edge. If the GAP is not completed in a given week, it will usually only be completed after a certain cycle has been completed. Will it be so?
May the crypto be with you!
12.2.2020 - Enigma (ENG / BTC)Hi Traders!
In the last two analyzes, we have focused on bitcoin and so far have been wonderful! Today is the time for a smaller altcoin.
As a potential profitable candidate, we choose Enigma today. On the chart, we can see 3 basic cycles on the market. The bull market, bear market and sideway movement. At the moment, ENG creates bigger highs and bigger lows and has 2 very strong resistances on its way:
1. Trendline
2. MA200 on the daily chart
If we cannot break through these resistances, it will not look well at all and support may not help. We have been trading a lot in similar situations in the last few weeks and have mostly gone up. This should be a similar example.
However, the market must be seen as a whole and bitcoin is slowly approaching our target. At the same time, its dominance is declining, which must also be taken into account.
However, Enigma is a beautiful example of an altcoin that has a very nice chart and a breakout should come soon. It's one of the cryptocurrencies that is currently worth watching.
May the crypto be with you!
5.2.2020 - Bitcoin (BTC / USD)Hi Traders!
Today, we look again at bitcoin, but in a shorter time frame. We see an essential zone that can decide on further developments.
On 17.12.19 we witnessed another "LOW".
We're currently in the channel and have completed waves A and B. At this point we're already in wave C and there's no doubt that bitcoin has started a new cycle. Each new cycle has at least 3 waves and therefore our conservative target is in the range of $ 10,853 - $ 11,486. At this level, there is resistance in the form of the trendline and 1:1 extension. This is where we would sell most of the position and wait for what happens next.
A bullish scenario would be a situation in which the zone is broken upwards for the first time. In such a case, a retracement purchase would be appropriate.
The bearish scenario is such that we cannot break through the zone and drop subsequently.
Basically, it's just how strong bitcoin is before halving. Before or at about the halving time, there's a high probability of decline as speculators will most likely sell. So this zone is a reasonable target where we would wait for the next steps.
May the crypto be with you!
29.1.2020 - Bitcoin (BTC / USD)Hi Traders!
Will it continue to grow until halving? Despite strong resistance, bitcoin has been growing steadily for the last few days. Today we'll present a long-term overview of what's next. Halving is happening on 11.05.2020 and as we can see on the graph, bitcoin can grow well when he wants to.
At the moment, we are above the MA200 on the daily graph and everything indicates that we will continue to grow. Way back, we've also overcome a declining trend line, which is another sign of trend reversal.
Altcoins are also very positive and even grow faster than bitcoin. The mood is turning positive and a number of youtubers and crypto experts from around the world say that we will only continue to grow until halving, as the graph suggests.
From 26.6.2019 to 18.12.2019 we were basically just in decline and therefore a smaller increase would be absolutely fine. Plus, halving is really around the corner, and we don't see any real reason why would people and crypto enthusiasts sell bitcoin before halving. From 11.05.2020, the remuneration for the miners will be halved and people are aware of it. In addition, there are riots in the world, which could boost bitcoin again. We, therefore, perceive long-term progress positively.
May the crypto be with you!
22.1.2020 - Dash (DASH / USD)Hi Traders!
Since you asked a lot about this coin, today we chose Dash for analysis. Since the beginning of the year, e.g. in less than a month, growth has reached over 270% . Although we have already seen the correction, it's still over 180% up in comparison with the beginning of the year. How will the correction continue?
First of all, we must say that such coins are always very difficult to analyze. DASH was in a very long downtrend. After that, the impulse came and within a few days, the coin broke through all resistance and fibonacci levels . When we see the growth that breaks through all reasonable levels without problems, the subsequent annotation is very difficult.
Dash has already completed its growth and has gone into a correction that has been a classic ABC correction so far. First of all, it is extremely important that DASH didn't do so-called pump and dump, which means it didn't fall as fast as it grew. We are currently in wave B, which could end up at logical levels between $ 117 and 123. This will be followed by a final drop to point C. We will be able to determine point C more precisely once point B has been completed.
Dash generally looks very good , but as it's a coin that has experienced extreme growth, be sure to pay more attention to its possible decline, as in crypto it's usually the case that one extreme is followed by another.
May the crypto be with you!
16.1.2020 - Cardano (ADA / USD)Hi Traders!
Today we chose the Cardano coin (ADA) for analysis. Perhaps you have noticed g rowth on altcoins this week.
It is possible that many altcoins and among them ADA are starting a new cycle . Looking at the daily chart, we can see that early last year ADA began to grow until it reached its peak in the summer. The second half of the year was marked by a decline, which ended with a falling wedge pattern. This pattern is a typical reverse pattern which means it reverses the trend.
On the chart, we can see a clear upward impulse, which is also confirmed by increasing volumes. If our assumption were confirmed and ADA starts a new cycle, it would mean its nearest target of at least $ 0.12 - $ 0.14 , an increase of at least 200% over the current price.
May the crypto be with you!
9.1.2020 - Bitcoin (BTC / USD)Hi Traders!
Welcome to 2020 - the year of halving. So the first analysis this year cannot be about anything but Bitcoin. After long weeks and months, it finally went upward. But where is the sensible target and what to watch? The first key event was that we were able to break through the strong resistance and channel. In addition, we broke the neckline in the Head and Shoulders pattern. We can now see more patterns on the chart:
1. Head and Shoulder
2. Elliot waves
Although these are two completely different strategies, they have one interesting thing - a common goal. Both Head and Shoulder and Elliot waves have a target in the range of 8 679 - 8 951 USD.
Why this target?
1. Target for Head and Shoulder
2. 1.618 fibo extension of the first and second wave
3. Resistance
4. Psychological boundary - 9 000 USD
However, growth could actually slow down and move to ABC correction or triangular formation. However, this does not change our final target.
May the crypto be with you!
11.12.2019 - Stellar (XLM / BTC)Hi Traders!
Today we are betting on altcoin against Bitcoin again. In recent weeks, this is the most interesting segment of the entire market. In particular, we will look at the XLM / BTC.
Why this coin?
In the upcoming days, there could be an upward break . The graph nicely shows 5 upwards waves and then ABC correction. Moreover, the last structure resembles a falling wedge and, in addition, we are on long-term support. The only missing thing here is an impulse. We are in a zone of a highly probable hard break , that won't be missing volumes either.
The whole market is currently very difficult to predict. Bitcoin has been going sideways for two weeks. Both big and small altcoins write their own stories as well. At the moment it's very difficult to find such a nice construction that would have a chance to grow. Despite the graph looking very good, we need to break out the falling wedge.
May the crypto be with you!
4.12.2019 - Aion (AION / BTC)Hi Traders!
Today we chose (a bit untraditionally) altcoin, which can be considered small against Bitcoin. It's this group of coins that are going through tough times this year because Bitcoin is growing faster than altcoins and thus increasing its dominance. In recent weeks, however, some coins have shown interesting patterns.
AION / BTC
Aion has been consolidating on its bottom for more than 163 days. Needless to say, this altcoin has also gone through an extreme downturn . It's possible that it has already reached its bottom. The graph shows an interesting structure.
1. Consolidation is sufficient
2. We made a break-up trend line
3. We are still creating higher minimums
These are three fundamental arguments that indicate a positive future development. Quite strong resistance in front of us can be considered negatively, as well as ever-lower maximums. However, such chart conditions have great potential in the long run.
The potential movement into resistance represents a possible appreciation of over 23% , so this trade would also be worth trying. Overall, however, we think that AION will test resistance in the coming weeks, which will eventually overcome.
May the crypto be with you!
27.11.2019 - Bitcoin (BTC / USD)Hi Traders!
What's going on with Bitcoin? You probably wonder why we are sinking so much and what's going on? Today's analysis is devoted to Bitcoin and its daily chart. Again, we will present a few possible scenarios.
To begin the analysis we need to say that there are currently many possibilities for future development. Few expected a record 42% pump to be completely cleared. We also got a confirmation that the institutions were short on Bitcoin last week so they had known what was going to happen. How to deal with the whole situation now?
1. The best option
The best thing that we could await is the scenario that we are currently at the bottom and we would go higher. We cleared more than 65% of the entire growth and that's a sufficient retracement. Only in 35% of cases in cryptocurrencies, the chart reaches such retracement. In addition, we've tested a key level of $ 6400, which is a long-term “point of control”. From this point of view, the chart has passed the test and could point upwards.
2. Consolidation
This option seems more likely. Rarely happens that after such a rapid fall an immediate growth comes. The chart usually recovers for a few weeks. In this case (indicated by a green arrow on the chart). Institutions tend to buy Bitcoin in large numbers via OTC at this time, and the market is flooded with negative information. We can see something similar now.
3. The bottom is yet to come
No one knows where the real bottom is. Neither the best trader nor the best analyst can pinpoint this. Even at this point, we can be at the bottom. Where could we go in case of continuous decline? Quite many talk about the level of $ 5000.
Our recommendation? It may be too late to go short and too early to go long. How to figure the situation out? Buy more for the long-term portfolio.
May the crypto be with you!
20.11.2019 - Dash (DASH / USD)Hi Traders!
Today we are looking at cryptocurrency Dash. We chose it deliberately because we see an interesting opportunity in it.
We can read a clear bounce (impulse) on the chart, that came last month. Since then, Dash has been moving in the channel. Dynamics, growth and angle which we grew under are much steeper than the decline. In addition, this decline is in the channel. We would be able to annotate the whole decline as ABC correction that could be finishing right now, why?
1. We are currently at 0.786 Fibonacci level of all the growth
2. The bottom edge of the triangle
3. There was already a smaller bounce-off
4. RSI is in the extreme zone
This is a watch zone where we keep an eye on how charts behave. If we break downwards, it's very bad. We are currently on a potential bottom, which may represent a good opportunity to buy.
May the crypto be with you!
13.11.2019 - Tron (TRX / USD)Hi Traders!
Tron (TRX) comes from China and we will take a closer look at it as it has a very nice chart. So we continue to analyze Chinese coins. We chose TRX deliberately because it hasn't yet performed anything and the graph indicates that this could change . NEO has already made strong growth, BNB and XLM are also keeping up nicely. This whole group of coins is Chinese coins.
Day chart
We are currently on strong support and something like a round bottom is beginning to form. We estimate it's the fourth wave. On the chart, we can again see a beautiful channel that has been broken . Thanks to Elliot's waves theory we know that the third wave always breaks the channel. It is a wave that is regularly the longest, has the highest volume and breaks resistance and trendline. This scenario suits the current situation. The chart is currently rounding up and we've seen several positive news by Justin Sun (Tron CEO) on Twitter, along with many signals from foreign groups. Globally, the chart looks really good.
Will Tron follow the growth of his Chinese colleagues? According to us, yes!
May the crypto be with you!
6.11.2019 - Binance coin (BNB / USD)Hi Traders!
Today, we are going to look at the BNB / USD. Who doesn't know this coin, it's a cryptocurrency Binance coin, created by one of the best-known crypto exchanges - Binance. In our opinion, it might be currently the best crypto exchange coin, which is managed very reasonably. What does the graph look like?
Daily chart
Very nice graph, if you look at the growth trend, its angle and the angle of its decrease. Moreover, the whole decline is in the channel. A structure as it was cut from a textbook on technical analysis. What we really like is that the BNB first tested the channel and then broke it. In addition, we can see increased volumes. In addition, the daily chart beautifully approached BK. The moving averages are close to each other and the MA7 cut the MA77 upwards. Who had studied this strategy knows that it means entering the long, or in other words buying. RSI is still normal. In the long run, it looks very good on the daily chart and we recommend to watch for resistances only.
In addition to a very good graph, it can be assumed that growth could also be supported by China, which is very positive about cryptocurrencies.
May the crypto be with you!
30.10.2019 - Tron (TRX / USD)Hi Traders!
Today we are going to look at TRX coin. Tron is a big Chinese cryptocurrency and its CEO Justin Sun is a great marketer. Why are we going to analyse just this coin? Chinese president announced last week they must increase investment into blockchain and prioritize cryptocurrencies. Chinese coins immediately reacted with growth. Justin Sun has been preparing the public for big news that came just yesterday on Twitter. Does it mean growth of TRX?
What does the graph say?
Exactly this is cryptocurrency manipulation. If a common person read this news, he would take it as a guaranteed growth. Is that really like that? De facto, oftentimes, when some news come out, this is already included in the graph, even before common people learn about it and it's just the case with TRX too.
Divergences on RSI and rising wedge doesn't mean anything positive. The overall perspective of TRX is possible growth. However, we anticipate a decline in the upcoming hours. The price is already compressed and the decline is just around the corner. We recommend considering purchase only after this decline. However, we have to wait for the style of the decline. Due to this reason, we don't highlight the purchase zone until we see the style of upcoming correction.
24.10.2019 - EOS (EOS / USD)Hi Traders!
Today we look at EOS / USD. The last hours have been marked by declines on Bitcoin and the entire market . The decrease also affected EOS. But what can we expect in the future? Again, we have a basic bullish and bearish scenario.
Bullish scenario
In this case, the entire correction would have been completed. The graph clearly shows the finished 5 waves down. However, this prediction has one small problem. In the crypto market, it is customary for wave 3 to be extended . In that case, we would only be at the end of wave 3 and a new bottom would follow . In simplicity, however, we can say that the 5 waves downward are completed and could start a new cycle. How do we find out? We must wait for the graph to react. Especially for the key zone.
Bearish scenario
We have already drawn this up. In this case, wave 3 would be extended. If we are witnessing extreme situations on the market (which is quite common with crypto), it is more difficult to estimate the potential bottom. It is from this perspective that we always consider the worst case scenario , and that is the new bottom.
However, the last wick that remains shows a strong rejection, so we can expect growth in the coming hours . But can we break strong resistance? It will determine whether it will be a bullish or bearish scenario.
May the crypto be with you!
11.10.2019 - Altcoin CapitalizationHi Traders!
Today we will look a bit unconventionally on the capitalization of altcoins. We know that many beginners also read these articles, so let's first say what capitalization of altcoins is? Altcoins are all coins except Bitcoin. Altcoin capitalization means how much money is allocated in all coins except Bitcoin. The difference between total capitalization and capitalization of altcoins is therefore only Bitcoin itself.
What does the graph look like?
A lot of people these days say that the altcoin season could come. What does it mean? This means that altcoins would grow faster than Bitcoin. The graph looks like this. We are currently in a channel with a target we have already achieved. However, this target is conservative. Whenever we reach the target, it is important to wait for the reaction.
Bullish scenario
The reaction came, but down. At the moment, it is absolutely essential that we do not break the channel downwards and keep the decline in the channel. If we can do that, further growth is possible.
Bearish scenario
This scenario is such that growth has indeed been completed and we will continue down. The previous forecast came out perfectly and there is nothing else left to do but wait for the market to offer.
From the point of view of altcoin trading, this is an absolutely crucial situation and a key graph to follow. We are more in favor of the bearish scenario, and we are also a little worried that a number of altcoins will still go to their new low. To confirm growth, we need to cross the channel upwards. Until we break it, we are more bearish.
May the crypto be with you!
02.10.2019 Stellar (XLM/USD)Hi traders!
We are going to analyze absolutely specific chart today - XLM / USD . It's not a typical technical analysis, but we want to prepare you for various traps and extremes on the crypto market .
Stellar is the tenth biggest cryptocurrency from the market capitalisation perspective, thus it's not any dwarf. So what can we read from the chart?
Stellar has been nicely finishing its structure and the last wave of a cycle, anticipating early growth. Triangle formation is often located before the last move in the current direction and it was even followed by a falling wedge formation. If you see these two formations, one after another, you win! In the vast majority of cases break and growth comes, and they did come. The growth of more than 52% in about 3 days . It even managed to stay high and the coin looked superbly.
However, Bitcoin broke down . Sharp decline sent Stellar to the bottom of the sea, literally. It fell by 42% in a couple of days . Given today's situation, we think it will continue to decline. At this point is essential to remind, that we are talking about the 10th biggest cryptocurrency. Similar extremes are common in cryptocurrencies and therefore we need to pay special attention. Key takeaway to remember here is to always scan the market as the whole . If any cryptocurrency looks really good but then Bitcoin is falling through floors you may simply have bad luck.
What to learn from this analysis?
1. Don't be greedy
2. Use stop-loss
3. Watch the market as the whole
4. Don't let emotions control you (market will keep tempting you)
5. Search only for the best situations on the chart
May the crypto be with you!
25.9.2019 - Bitcoin (BTC / USD)Hi Traders!
Last night we witnessed a sharp move on the bitcoin and the whole market . Bitcoin fell by about 15% and altcoins by up to 20 - 30%. So let's do a bitcoin analysis so we know what actually happened and what could that mean?
Scenarios:
1. Triangle
2. Channel
We have been watching these two scenarios in recent weeks. Although it looked like a triangle, ultimately bitcoin opted for a channel. Therefore, the overall decline is not yet over and the first pillow that should stop the fall is the blue support. This, however, is far from over. It is currently very difficult to determine where bitcoin can go. However, we can deduce a few facts:
1. Triangel is excluded as an option
2. We need to postpone the $ 15,000 target for a longer period of time
3. A drop to $ 8,000 may not be the final station
4. The extreme bearish scenario is that we also cross the channel down
We do not recommend buying into the position, because after such a sharp decline, the graph usually cools down for a while. Not even a further decline would be surprising. We have to wait, but we do not see any signs of a "quick return" yet.
May the crypto be with you!
18.9.2019 - Litecoin (LTC / USD)Hi Traders!
Today we will finally look at LTC / USD. Why now? If you're watching the crypto market actively, you probably know what has been going on for the last 48 hours. The current situation is very favorable for altcoins . Bitcoin stands in place, dominance decreases and altcoins grow. It all started with EOS / USD last week, and in recent hours, ETH / USD, XRP / USD and ZEC / USD have also joined. However, the LTC is still silent and that is why we will analyze it today. The graph looks very simple. LTC / USD moves in channels and we have two options .
1. Bullish scenario
The LTC will break the channel up and follow its altcoin colleagues, as described above. This possibility is highly probable , since it would not make sense if all altcoins had a similar graph, they eventually grew and LTC did not.
2. Bearish scenario
I find this scenario less likely and it is a reflection back into the channel and the subsequent movement in it.
We must perceive the market as a whole and take into account all its signals. Each coin lives its own life, but we must not forget the global perspective. Large altcoins have very similar structures and the whole growth started last week by EOS. Only then began to add more coins. Will the LTC be different? We will see in next few hours.
May the crypto be with you!
11.9.2019 - Bitcoin (BTC / USD)Hi Traders!
Today we look at BTC / USD. The summer is over and we are waiting for the key movement that will determine the direction of Bitcoin for the next months.
We are currently in a key area where upward bounce to USD 11,000 should occur. We can annotate the previous move to 5 waves and we are currently at the end of ABC correction . The fact that we are in a very strong area, where reflection is likely, suggests a few facts:
Fibonacci retracement - There are 0.65 - 0.786 retracement in this zone which are very strong zones
Fibonacci extension - The whole correction is in the form of ABC correction and in this zone is 1.01 extension projection AB
Volume gap on horizontal volumes
These are three reasons for which we assume that we are now in a zone that is expected to grow to USD 11,000. The daily chart is still in either a triangular or a channel formation . We have been creating this formation for more than two months and we are not yet able to tell which side the weight minds are leaning towards. If the zone is confirmed, we have a potential upward movement of 10% that you can trade.
In the case of the triangle , we need to overcome the top trend resistance on the daily chart, and in the case of the channel , it will be confirmed that we will do a new local minimum and exceed the strong support of USD 9,000. Neither scenario has occurred yet and therefore we have to catch what we have.
May the crypto be with you!
4.9.2019 - MaticHi Traders!
Today we look at MATIC/USD. Matic is a new cryptocurrency that passed through the Binance Launchpad . The coins that have gone through the Binance Launchpad have quite similar charts and the big point is that they usually start to grow among the altcoins first.
Matic is also marked by a decline, and although we have seen slight growth in the last few hours that could be plotted into 5 waves, the decline may not yet be at the end, as we are below the trend resistance. In the analysis of the higher time zone, however, we came to the key support and the final zone, so the point of entry was ideal. We are currently expecting ABC correction and then breaking the trend resistance . Looking at the graph in more detail, the breakthrough might well be based on the 3rd subwave in 3rd wave .
Elliot's wave theory tells us that the third wave is often the longest one, never the shortest, and usually breaks the RSI into the extreme zone and has a high volume . To put it simply, if you see a pump or break on the chart, then it is 95% 3rd wave. Logically, therefore, 3rd subwave in 3rd wave is the longest and most impulsive. So Matic looks like preparing land for a break . Coin rarely breaks such a strong resistance for the first time, and therefore it usually happens that coin arrives at the resistance and bounces downward to recharge and then break. This is our bullish scenario.
May the crypto be with you!
28.8.2019 - BitcoinHi Traders!
Today we look again at bitcoin. On September 23, 2019 BAKKT institutional trading will be launched and bitcoin is waiting for more significant movement.
We are currently tracking 2 main and priority scenarios:
BULLISH SCENARIO
All summer we are in one huge triangle and before launching BAKKT the price grow up . Why could it be a triangle? Triangles are characterized by very low volumes, stop-loss hunting, but often times boredom and activation of stop-losses on both sides. The graph fits exactly into the triangle formation, and this formation is absolutely typical of the fourth wave we are currently in. It also serves to reduce indicators with a minimum price drop. Once this happens, the chart is ready for further growth .
BEARISH SCENARIO
The bearish scenario is a channel that is still in game. In this case, bitcoin could drop somewhere between $ 7000- $ 8,000 , where there is strong support. Given the fast growth from $ 3,500 to nearly $ 14,000, it would still be an acceptable correction that we could consider normal.
We have written down two scenarios that have been in the game for several days and we have to wait for the graph to evolve. However, until we break and confirm one or the other formation, the predictions are useless. All we have to do is wait. In a few moments, BAKKT starts and the bitcoin is ready for the next move .
May the crypto be with you!