When Resistance Turns Into Support As Shown In Ethereum The law of polarity says there is a battle that is fought everyday between buyers and sellers to move the market. The struggle creates zones of support or resistance when breached will flip roles due to power balance shift in the supply/demand equation. In simple terms we see that ethereum has now found support at $2,000 and is free to move higher to find a future resistance level.
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Ethereum-bitcoin
ETHUSD Melt Up or Consolidation Following a sharp drop this morning in cryptos ETH is faced with a decision. Currently with a line in the sand at 2235, ETHUSD along with BTCUSD have a wide range they could be subjected to with the implied bottom at 2122 and swing low at roughly 2000. A push past 2235 could spark some aggressive participation and retrace back to its former range between 2320 and 2450. Due to the growing popularity in cryptos with the insane bull runs in alts such as Doge Coin, a break of 2235 seems probable thought there is no way to know how much sell pressure is yet to come into the market. Despite this sentiments, new bans in Turkey as well as class action suits from banks could create a compressive environment similar to what we saw last week. However, correlation with standard currencies such as the USD could lead to price lifting across the crypto market as the Dollars value decreases with the US Federal reserve plans of staying mostly hands off in terms of interest rates until 2024. All in all, this sell off could be seen as a good buying opportunity by many and continued bids in AltCoins is probable with a growing un-leveraged investor base.
Two big winners ETH & BTCIn my personal opinion I see BTC speeding up and taking ETH with it
ETH on the weekly MACD looks extremely bullish
While BTC looks to be consolidating above 1.618 fib level of the retracement from the 2017 high
Ethereum's ecosystem outweighs BTC's I see Ethereum outperforming BTC Year to date still
Still. Bitcoin is a big boy
WHEN CRYPTO WILL CRASH? - CRYPTO MARKET CAP CRAZY ANALYSISHi guys. I'm very proud of this analysis.
1) Based on the first macro Fibonacci extension and the fib circles, it looks likes we are approaching the next crash which will occur in May (-40%-45%?). This is exactly what happened in the previous cycles. The crypto market will go down once it reaches 3.2T$
However good news. This is not the end of the cycle.
2) Based on the second macro Fibonacci extension, the fib cycles, and the fib time zone, it looks like we will top out between the end of Aug and Sept. This is exactly what happened in the previous cycles. The crypto market will go crash once it reaches 17T$.
I'm not sure there will be a super cycle.
🚨 UPDATE ETH/BTC - Trade successfully completed!Hello dear readers,
I presented the idea for this trade HERE on 22 March.
Now the trade is finished:
Symbol: ETH/BTC
Duration of trade: 15 days
Profit: 22% Conservative
All price targets worked off: Yes
With that, this trade can be filed away, on to the next one :)
As always, it's "do your own research" - I am not an investment advisor and this analysis only reflects my personal opinion and is not a call to individual action!
If you want to support my work I'm happy about a Like & Follow 🙏
Best regards & success!
Chartdigger
ETHBTC Weekly Idea.Hey! I wanted to post some ideas about Ethereum and this bullrun, let me start saying we've seen ETH run after BTC tops, so IF and let me clarify this, IF BTC has already topped, we might be initiating ETH launch countdown.
We've followed this Channel after the ETHBTC capitulation, as you can see, I have a logarithmic scale on my chart so if you wanna draw this one on your acc, make sure Log is ON.
Since we've been on this channel we've lost it twice, weeks after we've topped the channel, or whenever the price is below 20W SMA, as you can see now, we've come into our channel and could be retesting it, if we retest it and BTC doesnt go "kaput", we might be visitting the top of our channel once again.
Its about a 50% from the retest against BTC...( 0.05 )I think that's kinda crazy... so before that we first have to overcome the middle of the channel resistance, as we can see, the price trends to rally for a little bit to come down into the lower part of the channel, that's a big resistance which also gets supported by a 0.5 and a 0.618 fib retracement level (you can see the red line where it crosses with it).
If we manage to overcome that obstacle then we could see a big green candle, just as previous times.
I hope you guys could take use of this chart! be carefull tho.. this april is gonna be a little tough
Im trying to get into the chat, I think you can make it there without paying idk... either way I'll keep posting charts like this.. sometimes I just sit on the 1min chart and start drawing stuff, would like to post it like Euro Motif and Stallion, great guys! I always read them!
Would love to read some comments about it tho!
(1INCH) To New All Time Highs Coinbase ListingIt looks like the 1INCH train is about to leave the station. We all love the Coinbase news effect. At less than 6 months old 1Inch is king of the decentralized exchange aggregator space and will continue to grow and expand with this bull cycle narrative of Bitcoin, Ethereum, DeFi, and NFTs.
Much peace, love, health, and wealth!
ETH Potential Next Leg Up Ethereum has been killing it this week. Since March 25, we're up more than 38%. We also set a new all time high yesteray at 2142.00! ETH has also sharply outformed BTC this week aswell. This leaves traders to assume two things:
1. Momemtum has returned to Ethereum
2. There will be a lot of volatility (aka opportunity)
Also, keep a close eye on the green support line. As long as Ethereum trades above that line we're looking very bullish and expect price to go higher.
Polkadot (DOT) Support & Resistance AreasSeems like we've been moving sideways between $30 -$39 for the past month. We've formed a nice clear support and resistance zones. If we break past $42.50 we'll most likely have another run up and a continuation of the price discovery phase for Polkadot (DOT). Polkadot under $34 is looking like a nice buy.
Cheers! Much peace love health and wealth. Happy trading and accumulating.