SOLANA UPDATE SOLANA has been one of the best performing large caps this year. A strong L1 project that has an ATH of $260 from the previous Bullrun that has made a huge rally off the lows.
My pessimistic side is worried that the rally has been exhausted, we've reached HTF RESISTANCE as well as a STRONG BEARISH DIVERGENCE. There is a strong case to be made that using TA this would be a great place to take profits. Not necessarily go short, but de-risk and enjoy what would have been a roughly 5x from lows.
We also have SOLANA being used to buy SOL memecoins, we're seeing this across the board with AVAX and INJ too, we've reached the memecoin phase of the run which also leads me to believe this move is coming to an end. Just how long the memecoin run will last, who knows, but it will come to an end as they always do, and usually very suddenly.
For now TA says to de-risk, however FA is running the show for now, we'll see for how much longer.
ETF
Bitcoin ETF: Sideways Action to Pattern Out Excessive GainsProbably the most popular Stock Exchange Traded Bitcoin Trust at this time, AMEX:GBTC has started a consolidation that may turn into a small triangle formation. Triangles are a form of a consolidation that can work to pattern out excessive price gains without a run or correction down.
This is the weekly chart where we can see that GBTC is now above its previous all-time highs. It is still affordable and poses less risk than the actual Bitcoin, which is very expensive.
ARKK Is this the right time to buy 'Innovation'?Ark Innovation ETF (ARKK) hit today its 1D MA200 (orange trend-line) for the first time since the November 13 2023 bullish break-out. This puts the price in the middle of the long-term Channel Up pattern that started on the December 28 2022 bottom.
As long as the price action closes the 1D candles above the 1D MA200, we expect an instant rebound. If it breaks above the 1D MA50 (blue trend-line), then our target will be 66.00 (+47.67%, which is the shortest rally it has had within the Channel Up.
A closing below the 1D MA200 though should go for at least a -23.34% decline from the top, which will be our buy entry for the long-term, but our Target will be modified to 61.50.
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BTC 4H 200 EMA BITCOIN is back at the 4H 200 EMA . The chart shows how since BTC flipped bullish above both the 50 & 200 4H EMA's , the moving averages have provided support when aggressively trending in the case of the 50 EMA (bounced twice). When BTC has a pullback/ranges we see that the 4H EMA provides support (bounced 4 times).
For the BTC rally to continue in the mid term this level must hold out to prevent further drawdown. With the halving only weeks away we have an decrease of supply and thus a a reduction in sellside pressure.
Greyscale do continue to sell but for how much longer we don't know. Once they do stop selling and the mining rewards halve we have a a very bullish environment for the rest of the year.
For now these are my thoughts on price action:
- Hold the 4H 200EMA, range between DAILY RESISTANCE and the moving average.
- Lose the 4H 200EMA, first support level is the DAILY SUPPORT, if that is lost then filling the wick at 59K could be on the cards and would offer a great place for long term holds.
Bitcoin Whales Aren't Buying the Dip (yet)The large holder netflow indicators helps you to keep an eye on when the largest Bitcoin wallets (those holding >0.1% of the supply) accumulate or sell $BTC. Not only can these wallets seriously impact the markets, they often pick the best moments to accumulate or sell, meaning we can learn a lot from their behavior.
Bitcoin has retraced quite significantly since the turmoil in the middle east. The big question on everyone's mind is this: Is the dip over?
While it is hard to say, we can see that the largest whales haven't started accumulating CRYPTOCAP:BTC yet. They did do this during previous dips. This could indicate that large holders are expecting prices to decrease further.
Keep your eyes on this indicator today, as ETF wallets can strongly impact this metric. Will ETF investors sell out of fear, or respond strongly and buy the dip?
The Large Holder Netflow indicator provides crucial insights into the activities of Bitcoin's largest wallets, those holding more than 0.1% of the supply. These wallets not only have the potential to significantly influence the market but also tend to time their buying and selling strategically, offering valuable lessons from their trading behaviors.
Recent events in the Middle East have triggered a significant retracement in CRYPTOCAP:BTC price. The big question on everyone's mind is this: Is the dip over?
Determining the end of the dip is challenging, but it's worth pointing out that the largest whales have not yet begun accumulating CRYPTOCAP:BTC , something they did do in recent downturns. This pattern suggests that these significant holders might anticipate further declines in price.
Today, keep a close watch on this indicator. ETF wallets play a substantial role in influencing this metric. The behavior of ETF investors, whether they sell out of fear or buy into the dip aggressively, will be key to predicting the market's direction.
Chainlink Giant Rising Wedge formed.Rising wedge target is back to top of chainlink accumulation range at 9.3.
Clear rising wedge pattern with two touch points top and bottom.
We are coming up to the Chainlink fib sequence I have been using for years it has a 100% win rate at predicting Chainlink events , major moves , bottoms or tops.
Last Fib time hit was the Big move down in May 2022 marked a major bottom for LINK. Next one is April 22nd 2024 and anything can happen for LINK around this time , its interesting also that it lines up with the Bitcoin halving.
LINK/BTC
Link has failed to break this level time and time again and until this level is broken I don't think we will see a major move for LINK.
It is possible that coming in 22nd of April we get a big move down for on LINK/BTC to test the 1/1 Gann fan again, yellow circle you see on the chart.
If thats the case then expect a major move down the fact that we are forming such a massive rising wedge with only 60 days from the next count is telling.
I also get a two different Fib time dates on 22nd April the one use see above is completely different start and end points yet the 618 falls on the same date.
Maybe LINK breaks the resistance on this date and moons or maybe it crashes and bottoms , who knows! all i know is that the next date after Aprill 2024 is May 2027 so best be ready for anything .
🔥BITCOIN before HALVING at $80,000? 🚀1️⃣ Below the Bitcoin price, there is an important demand zone reaching $64,000 - it is possible that from this zone there will be an increase towards the levels marked on the chart.
2️⃣ The emergency zone for possible increases is demand zone no. 2, reaching $59,000.
📈Privately, I believe that the increase may occur from zone 1, the current situation looks analogous to that of 2016. in terms of price structure.
📋EFTs - Halvings are just another piece of the puzzle, for years we have been using cyclicality and reading the price structure to determine what is likely to happen without following mainstream news, remember those who produce news are already on the market, including BlackRock, Vanguard, StateStreet. Wake up, The Matrix is real ;)
If you also follow BTC - leave a 🚀
🔥 Bitcoin Halving Next Week! Sell The News Alarm 🚨Preface: I'm still bullish on Bitcoin. Long-term trend still is dominantly bullish. With this analysis I merely want to discuss a potential downwards move after the halving.
With the BTC halving approaching fast (time flies!), I'm becoming concerned that the market will actually treat the halving as a sell-the-news-event, rather than a buying one. The simple reason is that we've been moving up in a straight line from 25k to 70k without any meaningful dip in between.
In recent history, major Bitcoin news events (Coinbase IPO, Bitcoin spot ETF launch) have been sell-the-news-events. So why would the Halving be bullish?
By now, everyone is aware of the supply shock that follows the halving. Smart money bought in Q4 2022 and Q1 2023 in anticipation of this halving. Dumb money has waited until recently to buy in, leaving them open to a correction.
Furthermore, the weekly RSI remains extremely overbought with a value well above 80 points. It has to come down eventually one would think.
I remain long-term bullish. Even the short-term looks relatively good. However, we can't underestimate the markets ability to catch us off guard. Be wary over the next two weeks.
In case of a correction, I'm looking at the yellow area for a potential re-entry.
SPY All eyes on the 1D MA50. Will it hold?SPY broke below the (blue) Channel Up and the only Support standing now is the 1D MA50 (blue trend-line). This level has been holding since the November 03 2023 break-out. If it holds, a new pattern will emerge but the medium-term bullish trend will stay intact.
If the 1D MA50 breaks though, we expect a bearish extension similar to August 15 2023, February 24 2023 and December 16 2022. As you can see those 1D MA50 bearish break-outs coincided with the 1D CCI breaking below the -100.00 oversold barrier. This is the level that the CCI is at today.
As a result, once the 1D MA50 breaks, we expect further decline towards the 1D MA100 (green trend-line). The shortest decline among the pull-backs mentioned above has been -5.93%. This gives us a rough estimate of 495.00. That would be the most optimal buy entry for the long-term. Our Target by the end of May will be 524.50.
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BTC - Follow The Flow 🌊Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 BTC has been overall bullish , trading within the rising channel in orange.
Currently, BTC is in a correction phase, approaching the lower bound of the channel.
Moreover, the highlighted red zone is a strong demand.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the red demand zone and lower orange trendline.
📚 As per my trading style:
As #BTC approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
GPT 🐕💥 DOGE's Wedge Edge: Correction on the Horizon? 📉🔮The current price of Dogecoin (DOGE/USD) is $0.1927. 💲
Analyzing the daily chart, Dogecoin is forming a rising wedge pattern 📈, which is often considered a bearish chart pattern 📉. This pattern suggests that while the price is currently trending upward, a potential reversal and downward correction might be on the horizon 🔮. The convergence of the trend lines indicates that volatility is decreasing and a breakout is typically expected 💥.
Given the current market sentiment and the technical pattern observed, a conservative approach would suggest a potential correction to the nearest Fibonacci retracement level, which might serve as a support 🛑. Based on the chart, if a bearish reversal from the wedge occurs, the price may correct towards the 0.236 Fibonacci level at approximately $0.12253 or potentially lower, depending on the strength of the breakout and market dynamics 📊.
It's crucial to watch for a definitive breakout from the wedge to confirm this potential move 🔍. Keep in mind that the cryptocurrency market is highly volatile, and external factors can greatly influence price movements 🌪️.
Remember, this is not financial advice but a technical analysis based on the current chart patterns 🧠.
SHPINGHello, here i present to you my analysis on SHPING Token.
This token is available on Coinbase and other top exchanges.
First and foremost, this is not financial advise. All financial decisions are
your sole responsibility. This is simply and analysis and opinion.
My analysis is displayed on a 3 day time frame chart.
As you can see Shping has broken an almost 2 year old trend line (in blue).
It can be interpreted as a descending wedge pattern, as price action moves
in a way where it reaches an inflection point and the price action is compressed into
a tight trading range. This technical pattern is usually followed by an explosive
move to the upside.
For the past 4 mnths price action has gone flat between the levels of 0.006 ( in white)
and 0.004 right bellow (in gold). Thus the 0.004 area can be seen as a high interest level since it has been support and resistance for many months.
This has resulted in an inverted Head and Shoulders formation which you can see highlighted
in white.
What we want to see now, and what i expect, is for price to begin making higher highs and higher lows. This would validate that bulls are now in control and that price will appreciate in the future. Once price breaks and holds above 0.006, we can see impulsive moves to the upside.
The RSI in yellow looks to indicate higher highs.
The MACD illustrates the same while also showing higher lows in price.
This hidden bullish momentum.
SHPING could be a winner. 10M market cap currently.
Get Ready for Bitcoin to Rally as ETF Adoption Grows!Bitcoin's future is here due to growing ETF adoption. Here's a breakdown of the key points with a neutral perspective:
Key Points:
• ETF Adoption: The message highlights the increasing adoption of Bitcoin ETFs, which could be driving institutional investment.
• Potential Rally: This suggests that Bitcoin's price may rise significantly due to this new wave of interest.
• Call to Action: It strongly encourages you to buy Bitcoin now to potentially profit from the rally.
Neutral Perspective:
• Investment Risk: Bitcoin is a volatile asset, and there's no guarantee of a rally.
• Do Your Research: Focus on potential gains but there are investment risks. It's important to understand Bitcoin's price history and the risks involved before investing.
• Long-Term Strategy: Understand short-term gain. Consider if Bitcoin aligns with your long-term investment goals.
Before Investing:
• Research Bitcoin's price history and volatility.
• Understand the risks and potential rewards involved.
• Only invest what you can afford to lose.
Overall:
There are potentially lucrative opportunities but be cautious. Do your research and prioritize long-term strategy over following short-term hype. Consider consulting a financial advisor for personalized guidance.
Top of channel POC magnet buyThese algorithms say this price action is a buy, and are indicating pressure towards the top of the daily trennd channel. this fund is oversold, and in pullback from a bullish overall trend where it has consolidated above fair valu gap and equillibrium.
AI is good at trading crypto, and if the computer is buying itself, then im buying the computer
AMEX:BITO
CME:BTC1!
🔥 Bitcoin Bulls Have NOTHING To Worry AboutBitcoin has been trading relatively bearish over the last month. However, this appears to be normal trading behaviour after a new all-time high has been made.
As seen on the chart, BTC did the same thing two cycles ago. Make a new ATH by ~7%, and then dump ~33%. Not sure whether we will dump 33% this time due to diminishing returns theory.
Looking at this fractal, bulls have little to wory about. We've seen the dump before and will likely see a new ATH in the coming month.
Will we drop further? New ATH soon? Share your thoughts 🙏
ETHE BullishETHE Bullish
I am not a financial advisor. This is not meant to be and does not constitute financial, investment, trading, or any other types of advice or recommendation.