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BTC/USD Next LONG TargetsLooking at the 4-hour time frame of Bitcoin we see that it has been consistently creating higher lows since finding bottom on July 21st. Over the course of this month, BTC has knocked through every resistance level & the uptrend, and is now heading towards $51,689 and above. Bitcoin has already painted the bottom wick on the weekly candlestick, it has the potential to spike upwards towards the local high levels created back in April - May. If this upwards pattern continues we’re looking at hitting these upcoming TP’s TP1 🎯 $51,689 TP2 🎯 $54,028 TP3 🎯 $55,218 TP4 🎯 $57,795 TP3&4 are placed at the local high and anything after that point is pure price discovery.
BITSTAMP:BTCUSDLong
by kyer
2
Bitcoin Dominance (BTC.D) Heading Towards 2017 LowsQuick update on my previous Bitcoin Dominance chart from earlier this year, looking at the weekly time frame. The start of 2021 we saw BTC.D topped out at 70.21% and consistently fell until the market crashed in April - May. The Dominance % bounced off 44% and slowly started creeping back up. A major key in analyzing this trend was seeing that the dominance didn't even reject or touch the 50% dominance level, signaling that the move upwards was a relief rally and the downtrend will resume. Taking a look at the 2017 move we saw it come all the way down to 35% in one straight shot, then a quick downturn to the 40% level. This time around, i'm believing that we're going to see the opposite where the Dominance first hit 40% and then the 2nd time around it comes down to hit the 35% level where it is finished from there. Most of the major cap coins have not touched their ATH in respect to the BTC ratio and they need to before the altcoin season is finished. The small capped coins have basically all created new all time highs and surpassed their respective BTC ratio. This 2nd altcoin season cycle should occur close to the end of this year, Q4 2021 going into Q1 2022 paired along with a spike in the price of Bitcoin and the rest of the crypto market. History doesn't repeat itself, but it often rhymes.
CRYPTOCAP:BTC.D
by kyer
9
ICP/USD Heading Towards $84-88 Resistance ZoneInternet Computer has regained the topside of this channel after bouncing cleanly off of the $58 support level. From here, we just saw 1st touch rejection from the $67 level and will most likely pullback a little bit to $65 before moving up more. ICP looks like its going to regain the $67 as support and close out on top of $70. From this point, the next level of resistance holding the price down is the $84 - $88 range. With BTC, ETH and the leading large caps reversing back to the upside, this means the rest of the market will follow and ICP is no exception to that. It will mimic the momentum of Bitcoin to the upside and reach our $84-88 price target for the short-term. As always please do your own research, I am not a financial advisor.
Long
by kyer
ADA/USD Bottomed Out Along the $1.34 SupportCardano has been in the news a lot recently, garnering support from prominent investors across the board, with big institutions like Grayscale Digital Assets buying a decent amount of the supply; all patiently waiting for the smart contract upgrade / update. Around ~70% of the network is currently being staked making passive income, which is a higher % than Ethereum. Looking at the chart of ADA technically, we see that the absolute bottom was a bounce off the 3.618 Fib level at $1.09 without a daily candle close below. The bulls would not let the price of ADA dip below $1 and reversed it back upwards to the current Spot trading price we see right now at $1.38. ADA has regained the 4.236 level as support on this recent move upwards as well as regained access inside this ascending triangle it broke out of before when it hit a local high of around $2.30. From here, i'm expecting ADA already to have priced in its bottom and continue moving back upwards with the rest of the market -- BTC, ETH as the key markers of price sentiment. ADA in the coming weeks should turn the $1.48 level of resistance into support and continue climbing upwards towards new local highs when the smart contract upgrade releases. The main two targets i'm looking for are $1.85 & $2.30. These are key levels that haven't been touched since making the local high back in the middle of May. As always please do your own research, I am not a financial advisor.
Long
by kyer
2
ETC $100+ This CycleEthereum Classic looks just like the leading coins in terms of chart patterns. ETC wants to take another run up towards its local high just like other big projects are doing right now such as ADA, SOL. ADA is coming up towards $2.30 and SOL is heading upwards to $55. ETC bottomed out along the $38 level which was the swing high found in April right before the pump from $38 - $148. This time it has slowly been gaining under our noses and recently bounced off of $59 to hit $73. From here, i'm expecting a little bit of a pullback before we continue climbing upwards towards the $93 - $95 take profit zone. ETC is going to come back up and hit its local high this year on this upcoming parabolic cycle and find new highs after reaching $148+ in the price discovery zone at that point. As always please do your own research, I am not a financial advisor.
Long
by kyer
4
BTCUSD Rejected Off of $44,854 LevelLooking at the 4-hour time frame we can see that Bitcoin rejected off of the resistance level at $44,854 and is heading back down going into the new weekly candle. Bitcoin looks like its going to paint the bottom wick of the new weekly candle around $40,707 - $41,337 before going back upwards again. This is a 1st touch rejection and does not mean the bull run / momentum is over, this is a small correction offering investors and traders to place longs at a lower entry price. I do believe we're going to see a backtest of this channel around $42,000 as well as a wick off of $41,37 & $40,707. Doing my best to keep y'all updated, check my crypto chat for real time updates. Cheers As always please do your own research, I am not a financial advisor.
BITSTAMP:BTCUSD
by kyer
1
Ethereum Hard Forks and Its Effect on PriceToday, August 5th, 2021, the London hard fork block containing EIP-1559 has been mined. Over the course of 6 years, over 12 million blocks have been mined and 12 hard forks have occurred. Today, i'm going to breakdown the hard forks and each of its effect on the price of Ethereum. Starting off first with Frontier on July 30th, 2015, this fork marks the first official Ethereum release. This launch contained the Genesis block with a little over 72 million ETH that was "pre-mined", of which about 12 million was allocated for the Ethereum development fund. After the initial release of Ethereum (Frontier), there have been 12 forks improving the network's protocol. The yellow color coded callouts have been the hard forks that have reduced issuance on the Ethereum network. Ice Age -- September 8th, 2015 -- Block #200,000 The first time the Difficulty Bomb concept came up was in 2015. At that time, Stephan Tual, former CCO at Ethereum, mentioned it in a blog post announcing the first Frontier patch. According to him, starting from the creation of the block #200,000, there will be an exponential increase in the difficulty, increasing block resolution time. Besides, this is how the blockchain will switch to PoS from PoW in time for the final milestone phase, Serenity. The real ice age would take until 2021 before the real effects of the difficulty bomb became obvious (Muir Glacier Fork Patch). Homestead -- March 14th, 2016 -- Block #1,150,000 Homestead comes with a few backward-incompatible protocol changes, and therefore will require a hard fork. EIP-2: eliminates the excess incentive to create contracts via transactions, where the cost is 21000, rather than contracts, where the cost is 32000. EIP-2 also fixes the protocol “bug” that with the help of suicide refunds, it is currently possible to make a simple ether value transfer using only 11664 gas. EIP-2 eliminates the excess incentive to set the timestamp difference in the result of a contract creation process, rather than the current “success, fail, or empty contract” trichotomy EIP-7 makes it much easier for a contract to store another address as a mutable source of code and “pass through” calls to it, as the child code would execute in essentially the same environment as the parent. EIP-8: makes sure that all client software in use on the Ethereum network can cope with future protocol upgrades. DAO Fork -- July 20th, 2016 -- Block #1,920,000 A vulnerability was found inside the DAO contract and if no action would’ve been taken, the attacker would single-handedly have owned 4.4% of the entire supply of ETH. Subsequently, a controversial proposal (EIP-779) was released in order to change the code of the attacker’s lockup contract, allowing everybody to withdraw their ETH from the DAO contract. On July 20th, a majority of mining power support a fork which implemented this change, while a smaller community decided to split off and rename the old chain to Ethereum Classic. Tangerine Whistle — October 18th, 2016 — Block #2,463,000 Tangerine Whistle only contained one EIP, EIP-150. This proposal repriced some opcodes to prevent denial-of-service attacks from being worthwhile, adding a flat penalty of 300 gas on top of the costs calculated in this table to account for the cost of loading the code. Spurious Dragon — November 23rd, 2016 — Block #2,675,000 “Spurious Dragon” is the second hard fork of the two-round hard fork response to the DoS attacks on the Ethereum network in September and October. The previous hard fork (“Tangerine Whistle”) addressed immediate network health issues due to the attacks. The upcoming hard fork addresses important but less pressing matters such as further tuning opcode pricing to prevent future attacks on the network, enabling “debloat” of the blockchain state, and adding replay attack protection. Byzantium — October 16th, 2017 — Block #4,370,000 Byzantium is the fifth hard fork Ethereum has implemented; Nine Ethereum Improvement Protocols were designed to increase the network’s privacy, security, and scalability (unnoticeable to the average user). Some are geared towards improving smart contracts by allowing developers to code planned contract upgrades as well as making them less prone to cyber attacks. A major EIP also prepares Ethereum for the integration of ZK-Snarks. Once implemented, this technology is expected to allow users of the network make transactions that cannot be traced, like the cryptocurrency Zcash. The main EIP takeaway from this hard fork is the block issuance rate. This number during Frontier (mainnet launch) was 5 ETH, which has now been reduced to 3 ETH per block reward. Constantinople / St. Petersburg — February 28th, 2019 — Block #7,280,000 Constantinople is the sixth hard fork Ethereum has implemented with four out of five planned Ethereum Improvement Proposals not being noticeable to the average user. The only user group that experienced a noticeable change is the miners, which Constantinople and St. Petersburg reduced the block reward issuance from 3 to 2 Ether. Istanbul — December 8th, 2019 — Block #9,069,000 Istanbul includes six Ethereum Improvement Proposals (EIPs), specific code changes to the ethereum protocol, including EIPs: 152, 1108, 1344, 1844, 2028 and 2200. The main issues being addressed by the six EIPs are: Denial-of-service (DDoS) attack resilience (EIP 1344) Interoperability with equihash-based proof-of-work (PoW) cryptocurrencies such as zcash (EIP 152) Gas costs (EIPs 1108, 2028, 2200) Muir Glacier — January 1st, 2020 — Block #9,200,000 The Muir Glacier network upgrade was kept simple with one Ethereum Improvement Proposal (EIP). EIP-2384 effectively delays the difficulty bomb for another 4,000,000 blocks. Pushing back the goal post. Berlin — April 15th, 2021 — Block #12,224,000 The Berlin hard fork incorporates four EIPs that tinker with gas prices and allow new transaction types, a stepping stone to the much bigger London hard fork. The 4 EIPs are: EIP-2565: reduces gas cost for a specific transaction type that uses modular exponentiation. EIP-2718: makes all transaction types “backwards compatible” using so-balled “envelope transaction,” which allows the addition of new transaction logic into Ethereum. EIP-2929: increases gas costs for “op code” transactions, a pain point for denial of service attacks on Ethereum in the past. EIP-2930: a new transaction type (made possible by EIP-2718’s envelope transactions) which allows its users to create templates for future, complex transaction in a bid to lower gas costs. London — August 5th, 2021 — Block #12,965,000 The highly anticipated London hard fork that has hit all major financial news outlets. This latest backward-incompatible hard fork also marked the rollout of five new EIPs: 1559, 3554, 3529, 3198, 3541. The EIP that everybody has been talking about has been EIP-1559. EIP-1559 replaces Ethereum’s auction-style fee market with an algorithm that automatically sets the gas price. It will also introduce greater block size variance, meaning block sizes can fluctuate up to two times the current maximum limit during times of high network congestion. When it comes to the amount of transaction data able to fit in a block, this flexibility is intended to improve fee market efficiency and help alleviate some of the pain points cause by Ethereum’s limited transaction throughput. Projected Price by EOY Before color coding the hard forks, this chart was a little bit wonky to try and understand which forks had the biggest impact on the overall price of Ethereum. With further research, I came to conclusion that the block reward reducing issuance of Ether had an astronomical impact on overall and long term price. Byzantium , the 1st hard fork reducing block reward issuance, saw a price increase of ~375% in 84 days after the code was launched. Constantinople / St. Petersburg , the 2nd hard fork, saw a price increase of 180% in 119 days. Using these two previous hard forks to gauge the trajectory of Ethereum after the London hard fork is pretty simple math, simply take the average of the two. London , the 3rd hard fork, is projecting a 277% gain in ~100 days. This would set the price just under the $10,000 level, sitting pretty at $9,640 per Ether. Assuming that this EIP has enough hype as the previous two, which this time was in the main stream news unlike the others, the projected price line at $9,640 should hit with ease going into the end of the year. Just like the Homestead hard fork, I do believe that the final PoW -> PoS merge will get launched at the top of the market. Thank you for all your support and taking the time to read this analysis. Please leave your comments down below! As always please do your own research, I am not a financial advisor.
BITSTAMP:ETHUSDLong
by kyer
6
BNB/USD Triple Bottom at $258 SupportBinance Coin, Binance Smart Chain, and the exchange Binance itself has had quite the news headlines this year; from BSC recording an astronomical growth in users on chain, to regulatory compliance by the exchange, to CZ Binance stepping down from the CEO role. Binance Coin peaked a little over $676 earlier this year in May when the hype for NFTs and BSC-20 tokens were through the roof and since then has not made a newer high. BNB has been consistently falling and trying to find its bottom support, which now looking at it August 1st, I am confident that we've found bottom. If BNB was going to continue falling back down to the start of the uptrend at $130 and post up a scam wick, we would've seen that by now. However, BNB has not closed a single candle on the daily or 12H underneath the $258 level of support, acting as the local bottom. BNB not seeing a single candle closure underneath the bottom level of support is extremely bullish and I would be re-evaluating my position in this coin if Binance came back down to the start of the uptrend at the $130 level. Now getting perfect entry is pretty difficult and would've been goated if you would've bought at $258. I am not that great at picking the absolute bottoms, but I did manage to squeeze out a long entry at $293 (still HODLing). My next long targets i'm looking at mainly is the April 2021 Swing Low placed at $432. This level of resistance has already been 1st touched back in the start of June, never to be hit since. Now, i'm expecting BNB to swing high and hit this level and continue the upwards momentum to the previous local high and above going into the end of the year. As always please do your own research, I am not a financial advisor.
Long
by kyer
1
ETHUSD Reversing Back Upwards from Double Bottom PatternYes, I understand that we've been gaining the past 11 days in a row. However, take a look at the previous pattern back in Feb - March right before the pump up to $4000 during the NFT craze. From that double bottom pattern, we saw a bounce off the $1576 level all the way up to $4,300 and then came back down after that. At the moment, ETH came back down from that spike upwards and created a higher low with the double bottom forming at $1784, a higher low indicating that the bullish momentum is still there. Perfect entry would've been between $1784 - $2022 going long towards the 1st wick of this downtrend holding the price back around the 1.618 Fib level @ $2709. I'm first taking profits on my position at that level and looking to re-enter after it is rejected. There should be some consolidation pretty soon, this growth is unsustainable for the long term and needs to cool off at some point. Even if we pull back a little bit on BTC and ETH, this does not change the sentiment in the market and most likely it will be a liquidity stop hunt. We are going to 100% see higher highs than we posted earlier this year in May and those numbers will look like nothing Coming up, we have the EIP-1559 going live early Thursday morning and that has not been priced in yet. Everybody saying that EIP has been priced in does not know the implications of the Improvement Proposal. We spiked up to $4300 with horrible fees and users paying astronomical gas fees in order to trade their NFTs, sending a lot of the new user trading volume towards the Binance Smart Chain network. This EIP is another fix stepping in the right direction to rendering Ethereum usable in terms of DEXs & DApps. Please view my related idea of calling out the bottom out along the $2,022 support level. Thank you all !!! As always please do your own research, I am not a financial advisor.
KRAKEN:ETHUSDLong
by kyer
17
BTCUSD Regained Jan 2021 Swing High Level of SupportHey traders, Bitcoin for the past 2 months has been stagnant and consistently creating higher lows since printing the local high at $64,581 back in the middle of April. Now for the first time since, we are seeing higher lows being printed as well as a full reversal in the sentiment & candles back to the upside. The greed index is coming back where people are becoming more greedy than scared in the markets, indicating that the bulls are back to play. These 2 months of selling off was definitely necessary in the markets as everybody and their mom was buying into Bitcoin and cryptocurrencies, deserving of a correction. From here, i'm expecting Bitcoin to continue rising towards higher highs going into the end of the year and this is the start of the wave 2 cycle going back upwards. This week we've printed just about 11 straight days of green, which we haven't seen in a very long time (correct me if i'm wrong but we haven't seen that in the previous wave 1 cycle up). Bitcoin is knocking out all the levels of resistance and backtesting them so it can properly move up. In addition to breaking the 1.618 Fib level and garnering it as a support, BTC regained this upwards channel created during Thanksgiving 2020 when the wave 1 cycle was just beginning (BTC surpassing previous ATH prices). If bitcoin doesn't continue moving up from here, i'm expecting some consolidation around the $40,707 - $41,337 level as well as a backtest of this downtrend before moving up towards higher highs. The next major level of support that Bitcoin is going to try and regain is the trend line formed from Feb - March. This trend was broken with ease when Bitcoin was free falling from 60k all the way down to 33k where it wicked off the support level. I am very confident that we've seen the bottom of the market cycle for wave 1 and if we were going to come back down and hit 20k (previous ATH) that would've hit by now. We are entering a zone of price discovery again (above the 1.618 Fib level) and are going to continue climbing upwards until we reach the top of this Fib Extension @ $77k. Check out my linked ideas on Bitcoin that I made earlier this month if you'd like to see another perspective and read. Thank you all !! As always please do your own research, I am not a financial advisor.
BITSTAMP:BTCUSDLong
by kyer
13
BNBUSD Capitulation Sell Off to $300 to Newer HighsLooking at Binance Coin on the Daily time frame we can see a Feb 2021 Swing High level marked out at $333, which is currently acting as a resistance that was a former support. At the moment, BNB is bottomed out along the $258 level without a candle close underneath that level, signaling very bullish momentum and that the bears don't have enough steam to send BNB to the start of the uptrend of $130. In a bull market, not all start of the uptrends have to hit / retest but it is still possible and not out of the question. Let’s say we see a candle close on the daily underneath $258, the price of BNB is going to $130. However, I believe that BNB has bottomed out along $258 and is headed towards regaining the Feb 2021 Swing high at the $333 - $348 level, regain this uptrend, and finally wick the April 2021 Swing Low at $432. This move won’t happen overnight as this is a daily time frame, but this is a general outlook to where I see the price of BNB headed. This is a capitulation sell off back down to $300 from $650 that is going to end up eventually hitting newer highs going into the second half of this year. As always please do your own research, I am not a financial advisor.
Long
by kyer
1
MKRUSD Heading Towards $3000+Taking a look at MKR on the daily time frame we can see that it is currently testing even with the February 2021 swing high level placed at the $2696 - $2837 zone. During the last week of June and going into the start of this month, all the top cryptos sold off a bit to stop out the over-leveraged longs before moving back up. The bull run isn't over, it's just a matter of 'How and when' its going to come back. At the moment, the highest level of support is $2837 and the resistance level at $3100 has already been tested once. This being said, the next true level of resistance is placed at the $3751 level and that is where I have my sell order placed for a 30% gain. I do not know how long this move is going to play out, I am simply just reading the trend and sentiment of the market. Attached is MKR on the 4H Time Frame We can see that MKR dropped below the longer term trend created from that same February 2021 swing high level and then eventually regained it as support after stopping out over-leveraged longs. This currently looks like very great bullish momentum that is going to continue now. I was a little bit skeptical about the current trend of the market up until the day before yesterday when i've been able to properly analyze the more candle data that was given to me. The 1st target if you want to lock in profits and feel safe about this play would be at the $3100 level, which has already been 1st touched. Expect a quick touch and pullback from this level before pumping up the rocket fuel to $3751. From that point, this is a significant level that many traders will take profits from, so expect a decently sized correction from that. As always please do your own research, I am not a financial advisor.
Long
by kyer
3
ETHUSD Bottomed Out Along the $2022 SupportEthereum has found new highs in May during a period of price discovery and everybody losing their minds over the NFT craze. From the peak hype, we’ve fallen about 60% and have been capitulating ever since (about 1.5 months). ETH has found support along the 1.0 Fib level at $2,022 and this pattern looks the exact same from the pullback we saw in January 2021. We capitulated back down to underneath $1000 briefly and eventually found support along the $1000 psychological level of support. This essentially is the same type of pattern, just on a bigger scale and time frame. I believe the bottom is in at $2,022 and we’re going to pump up towards the 1618 Fib level at $2,709. As always please do your own research, I am not a financial advisor.
KRAKEN:ETHUSDLong
by kyer
5
BTCUSD Market Outlook - 6/24/21Good afternoon / evening traders! This is my 1st update in 10 days, this current market sentiment is difficult to navigate around in. There's just a lot going on in the cryptoverse right now with China banning Bitcoin miners on one side of the spectrum, and entire countries like El Salvador accepting the 'magic internet money' on the other side. In saying this, there's a lot of mixed signals with the short-term direction of Bitcoin and it's very hard to predict. Without further ado let's get right into it. Looking at the 2-Day time frame of Bitcoin we can see that BTC is currently capitulating after coming down from the 1st top formed in April at ~$65,000. From here, Bitcoin blew through the $38-39k level of support and now that same level of support is acting as a level of resistance. Looking at the weekly time frame, it really does seem like Bitcoin has bottomed out along the $28k level of support along with this long term uptrend formed at the start of the uptrend back during Thanksgiving 2020, right before the Bitcoin market started heating up. I'm expecting bitcoin to hold this uptrend and slowly reverse back upwards. It is going to take some time to fully reverse and i'm not expecting anything even close to a major move up or down until the end of July (after Ethereum 'London' hard fork) going into the start of August. Around this time, Bitcoin can break out of this downtrend formed from the local high at ~$65,000 and eventually reverse to create newer highs and an eventual and inevitable 2nd top at the end of the year. Take a look at my attached chart posted back in January explaining the logarithmic growth of Bitcoin. According to this chart and the S2F model, Bitcoin is still on track to hit those price targets and the bull run is not over. We just witnessed part 1 of the cycle, we still have a 2nd part to this cycle for us in store around the end of the year to look forward to. As always please do your own research, I am not a financial advisor.
BITSTAMP:BTCUSD
by kyer
3
BNBUSD Bottomed Out at $333Looking at the daily time frame of Binance Coin we can see that after the crash in May from the local high of $676, it found a bottom at $333 (Feb 2021 Swing High). The absolute bottom was the $258 level, which is the bottom of this accumulation zone and interesting enough we didn't see a single daily candle close below $258 which is a sign of very bullish momentum. In addition to this, BNB also regained this uptrend as well as levels of support all the way up to $348, as it tries to complete its mission of reclaiming previous highs and beyond. The BEP20 craze with all the tokens being created using the Binance Network for the cheaper fees, alternative to the Ethereum network, caused the price of BNB to roar (native asset to Binance Smart Chain). Obviously not everything can go up in one solid motion and it needs time to cool off before moving back up. At the moment, BNB is sitting at a Spot price of $365 and I believe that the price will continue to range in the region of $348 - $432 until it breaks out to the topside in mid July back up to $500. It's going to face some resistance around the $432 region as it tries to reclaim this level as support as well as the downtrend around $500. I'm talking a month out price action here and i'm sure i'll update you traders before that as we move up. Thank you for reading and wish the best with your trades
Long
by kyer
6
XRPUSD Found Support Along 2018 Swing HighLooking at the 12-hour time frame of XRP we can see that its bottomed out and accumulating along the 2018 swing high at 0.89999. At the moment, XRP is inside this wedge and looking to breakout or at least wick the topside trend around 1.32. My targets moving forward if XRP continues to hold this 2018 swing high at 0.89999 are: TP1 🎯 $1 TP2 🎯 $1.09030 TP3 🎯 $1.18 These targets are placed for the short term which I expect to hit going into the end of this month or the beginning of July. Obviously am expecting the prices to go higher but i'll post another update once we reach that point. Cheers traders As always please do your own research, I am not a financial advisor.
KRAKEN:XRPUSDLong
by kyer
4
LTCUSD Bottomed Out Along 2-year ValleyLooking at the 12-hour time frame of Litecoin, i'm seeing a clear bottom out along $171 (2-year valley support created in 2017). At the moment, LTC is accumulating in the $171 - $183 zone and will continue accumulating in that zone until it moves back up. My targets moving forward after Litecoin finds a stable support above $183 are: TP1 🎯 $194.75 TP2 🎯 $218.80 TP3 🎯 $262 I’m expecting Litecoin to hit the TP3 (weekly resistance) around the end of this month, if not going into the start of July. It’s going to take a bit of time to reverse, but this is the bottom. Especially when time moves forward and we start to gain momentum back up as LTC regains this channel around $218, that’s whats going to solidify the bullish momentum. As always please do your own research, I am not a financial advisor.
KRAKEN:LTCUSDLong
by kyer
4
ETHUSD Accumulating Around $2500Looking at the 12-hour time frame of Ethereum we see that it bottomed out along the 1.0 Fib level, similar to Bitcoin along what would be the 33k level, respectively. Moving forward, we're going to continue slowly accumulating and rising back upwards through the summer until we reach new highs later in the summer. At the moment, ETH is holding this ascending triangle as it looks like its trying to regain the $2709 (1.618 Fib) level. After ETH regains the $2700 (1.618 Fib) level, my next targets moving forward are: TP1 🎯 $2709.76 TP2 🎯 $2910.31 TP3 🎯 $3431.59 As always please do your own research, I am not a financial advisor.
KRAKEN:ETHUSDLong
by kyer
2
BTCUSD Price Targets - 33k BottomBitcoin did end up catching 33k support as the bottom. We didn't see a touch of 27k or something crazy like 24k or sub 20k. From here, looking at the 4-hour of BTC it looks like this was the bottom painted here after wicking 33k for a 2nd time, along this rising channel around the $36-37k zone heading upwards to 40k and beyond. The next major move for Bitcoin is going to be closing above the $39,696 - $41,337, and from there i’m expecting to hit the high 40s. Bitcoin gained the $38k level as support and will probably squeeze out traders before hitting these long targets but these are valid if BTC continues to hold the $38k support: TP1 🎯 $39,696 TP2 🎯 $40,707.64 TP3 🎯 $41,337 TP4 🎯 $44,854 TP5 🎯 $47,410 Please take a moment to read through my related ideas calling out the 33k bottom if you have a minute. Thank you 😊🙏
BITSTAMP:BTCUSDLong
by kyer
8
ETHUSD Ascending Triangle to $3000+Looking at the 4-hour time frame of Ethereum we can see that we're currently trending inside of an ascending triangle and we're just waiting for that imminent breakout to the upside. ETH is bouncing around that 1.618 Fib level around the $2700 level heading long towards $3000 and above. The top resistance of the ascending triangle is placed at $2910 and once ETH breaks out and finds this level as support its going to start heading towards $3800 and previous highs. I believe the rest of this month is going to be continued capitulation underneath the previous local high until EIP-1559 releases in July and we break back above local high and the 3.618 Fib level at $4933 We have definitely hit bottom and its only a matter of time before we start printing back up. We are down about 60% from the local high, 60% of the market cap evaporated overnight. Hundreds of billions of dollars gone with the wind. As always please do your own research, I am not a financial advisor.
KRAKEN:ETHUSDLong
by kyer
4
ETHBTC Ratio - Cycle Almost CompleteThe ETH/BTC ratio is almost complete, looking at the daily time frame it looks like Ethereum is on track to continue out performing Bitcoin and reach the TP3 level placed at 0.10 BTC per ETH. What I mean by cycle complete is that this red distribution zone marked out on my chart is the exact same level that ETH hit in 2017 twice during altcoin season. This is an updated read from my previous ETH/BTC ratio reads and i’ve been calling it for a while now. TP1 hit with absolute ease and now just 1st touch rejected off of TP2. From here, it really looks like ETH/BTC has found support and stabled itself out to where now its going to break through the TP2 level at 0.077218 and head towards TP3 placed at 0.105244 All in all, this move was a 237% gain and congratulations if you played it all the way from the bottom. 🥂
Long
by kyer
5
BTCUSD $33,000 was BottomLooking at the 4-hour time frame of Bitcoin we can see that the dump looks like its over and that it caught support along the $33k level until it eventually evened out along $37,000. From here, i'm expecting another week or so in accumulation in this same range underneath the 1.618 Fib level until Bitcoin breaks out to the topside and wicks $57,000 again and above. It is only a matter of time before Bitcoin breaks back above to new highs again, it's just going to take a bit of patience. Markets can't move up in a straight line forever, they need to take a breather. This is the biggest wave of capitulation we've seen so far and as the market continues to get more crazy towards the end of the year, we're going to see moves down like this just as great if not move intense. Let me know your thoughts in the comments below, thanks for reading. Cheers
BITSTAMP:BTCUSDLong
by kyer
18