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🔥 Bitcoin VS Bananas 🍌: Bullish Move After Cooling InflationIn today's analysis I want to shed some light on the Bitcoin divided by the 1000kg Bananas 🍌 price (PBANSOPUSDM). In other words, how many thousands kilo's of Banana's 🍌 can we buy with 1 Bitcoin. As seen on the chart below, Banana's 🍌 have been gaining nearly 50% in value during the high inflationary period between Nov 2021 - Dec 2022. Recently, the price of Banana's 🍌 has been quite stable. After reaching the 11 - 8.50 support area after the FTX collapse, the chart reached a critical support zone. Traders saw this as an opportunity to transfer their Banana 🍌 wealth into BTC, with great results. In my view, we're rapidly approaching the Summer 2021 support area of 23 - 26 thousand kg Banana 🍌 per BTC. Experienced Banana 🍌 traders will most definitely sell some of their Bitcoins for Banana's 🍌 around this area, so watch out for a reversal. Also, note that the gains on Banana's have been huge over the high inflation period. On the BTC/USDT chart we're already trading at the Summer 2021 support area, but on this chart we're still ~35% away from it. 🍌🍌🍌🍌🍌 Check the date 🍌🍌🍌🍌🍌
BITSTAMP:BTCUSDLong
by FieryTrading
12
Bitcoin decline will be to the last foolWe are in a very interesting situation right now. On the one hand, prices have been falling for a long time, and we are not far from historical support. Logically, there should be a rebound. On the other hand, bitcoin has been growing for many years, and more and more people want to get rich. So it actually makes more sense that each new cycle of growth is less than the previous one, and each new cycle of declines is greater than the previous one, since more and more people will want to fix the gains so that they don’t remain fools like in the previous times. And it may be time for a break in the long-term uptrend that everyone is hoping to see. If the 2013-2020 support line is broken now, this could mean that no previous uptrend rules are in effect anymore. In this case, this is a bearish market, it can hit a little more psychologically scary than the previous one (This is normal). At the same time, this is a bearish market, and if it is bearish, it will be at least as cool as the first and second. That is, the fall is more than a year and -84% - -87% of the decline of bitcoin from the top. But it will be perceived very painfully, since during this cycle bitcoin has not grown as much as the past ones. A change in trend will definitely scare away long-term holders. Such a normal bubble should burst where it seems now impossible. In principle, everything is as always. Therefore, we can safely say that the bottom is more likely at 20,000, and not at 29,000, and at 8,000 rather than at 20,000.
BITSTAMP:BTCUSDShort
by John_Wayne
BTC is about to crash 50% to 29kI said BTC had topped out when it reached 53k back in February and congratulation to those who sold then and did not FOMO back to the market. If you dont see the great short now you will never see it. The market has finally topped out. we have confirmation. The volume is declining and all the major indicators are pointing at the 29k level. This 50% crash that is coming is a gift to all the amazing bears out there. The bears always win in the end. Mark my words. Dont start crying when the sub 30k levels are coming. A 60k BTC is not sustainable in the long run. 20k-30k is a fair price to start dollar cost average back inn to the market. Dont be a fool and go all inn now, be patient and wait in a short position. When the blood starts flowing in the streets you better drink it up. Dont be the guy that are bleeding.
BITSTAMP:BTCUSDShort
by CyberNetGain
11
YY - Increasing volumeChinese cellphone platforms: Y Inc. (YY) is a social platform that engages users in real-time online group activities through voice, video and text on personal computers and mobile devices. The Company's segments include YY IVAS and others, Huya broadcasting, and 100 Education. YY enables users to create and organize groups of varying sizes to discover and participate in a range of online activities, including music shows, online games, dating shows, live game broadcasting and e-learning. YY offers users an entertainment experience through its social community. It owns the domain names of YY.com, Duowan.com, 100.com, Huya.com, Edu24ol.com and Zhiniu8.com. The Company's YY platform, including YY.com, is jointly operated by personnel from Guangzhou Huaduo and Zhuhai Duowan. Its product, YY Client, enables users to engage in live interactions online. Its Web-based YY enables users to conduct real-time interactions through Web browsers without requiring any downloads or installations. Full retracement, when will Cboe VIX drop below 15-16? YY AMEX:CBOE
NASDAQ:YY
by Pokethebear
Bulls not ready to let bears call check mate just yet.After three consecutive bearish candles under the bearflag it seemed as if breakout was confirmed and then suddenly a huge bullish slingshot cast the bulls upward again somehow closing back inside the bearflag and keeping it still in play and suddenly the chess match between the bears and bulls goin on inside the bearflag was back on even with the bulls down to nothing but their king left on the board and the bears with most of their pieces in tact. So the ebar flag is still in play but quickly appoaching it's end with either this candle or the very next 4hr candle being the last one in the flag, and the bulls are keeping things alive but currently the white fib line is acting as resistance keeping them in the triangle after a big effort by the bulls to blast up outside of the triangle...which so far has appeared to be an april fools bull trap for now. I still think probability favors a bearish breakdown, and now think that the AApril Fool's joke for today was this giant bull trap. However because now a bullish breakout is still very much possible I have drawn a projection trend line at where a bullish breakout could take us (around 8100-8200) Just in case this does have a bullish breakout. I still think a double bottom is likely and now that the blue 161% fib line has been redrawn I will probably enter back in around 6030 or so. with the intention of laddering in a little more if we reach the new lower fib line and laddering in a little more for any further lines of support we reach under that. If we have a bullish break out I will enter right above the neon green dashed line around $7308. you'll notice on this last bull surge we still didn't have a higher high than the last big green candle so we didn't establish a higher high meaning ebars are still in control and increasing the probability of a bearish breakdown from the flag. Still best to always be prepared for the opposite outcome. I remain short for now however ...if the current candle closes above the red triangle of the bearpennant then it may not need to reach the higher high yet to continue upward or break bullishly out of the bear pennant which would definitely give it a higher high, so very wise to watch closely now the next two 4hour candles because a close above the triangle on this one means that it still needs one more confirmation candle/ or a ton of bull volume on the following candle to confirm the breakout so it could close above the triangle on this one but then drop way under it on the next one as a bull trap....if the current candle closes inside the triangle...we will have one more candle that will be after it which will still of a slightly greater probability of breaking bearishly downward but it is wise to be patient with both outcomes before you decide to change from short to long or long to short. This is just my take and not financial advice...thanks for reading!
BITFINEX:BTCUSDShort
by DrDovetail
Bear Pennant continuing to unfold as I expected; Double bottom?In my last Idea I drew some lines of what I predicted would turn into a rather large bear pennant...and so far it's following the Trendlines I layed out for it precisely. It somewhat amazes me how that can happen...But I have switched the dotted blue lines of the equilateral triangle to solid red and havw added the pole of the bear pennant too that ts now looking exactly like a bear pennant so with that I can give you a downward bullish breakdown price projection target of around $5600. That sounds pretty realistic of an outcome and the probability favors it...however there's a chance that before it has a chance to drop that far, that a potential double bottom could happen when it reached the $5,900-6,000 range which was where we had our low in February. If a double bottom occurs we'd be looking at some huge upward momentum of which I will make a seperateidea following this one focusing more on the double bottom and giving you a more zoomed out perspective on my chart. For now though the bear pennants projected range is $5600 unless its stopped first either by a double bottom around $6,000, or potentially just above that at the blue fibonacci 161% extension line at $6071.90. The body of the candle may close/open at the fib line with a wick dipping down to the double bottom zone and potentially a wick dipping as far down as $5600. Now that there wasn't enough bull volume to sustain the recent climb, The death cross will start to occure on many more exchanges once we close the current 1 day candle in 24 minutes from now. Once that happens, I predict we will be dropping in price most of April Fools day...but I see that death cross carnage as simply cryptos april fool's joke and something like a double bottom happening the very next day to trigger a huge upswing and jumpstart the bull market. I'm still optimistic that Q2 of this year can be a very bullish one that I will be long on, but for now I'm obviously short(temporarily)...you choose to do whatever you see fit though as once again this is in no way financial advice! Thanks for reading and best of luck!
BITFINEX:BTCUSDShort
by DrDovetail
Death Cross Confirmed. Yet so far bullish price action.We have seen a nice bullsih climb so far as the new 1 day candle despite the Death Cross also officially occuring has opened which could be one of 2 things....the anticipation of the Death Cross triggered so much selling leading up to it that by the time it actually got here the bears have been completely exhausted, or that bullish momentum is a bear trap. For now I'm going short, and trying to sell as high on the bull momentuma as I can...I personally believe the death cross will not be nearly as bad as some previous death crosses but my own little theory is we may see a horrible april fools drop only to shoot back up on april 2nd the very next day....I'm thinking a some sort of bearish doomsday crypto april fools scenario is likely, and then on April 2nd we see a huge bull surge which in turn creates a golden cross and kickstarts the market. This is just a theory, who knows whether or not it will pan out...I don't reccomend anyone take this theory as gospel but it would be rather amusing to me if it does pan out that way...so for now I remain temporarily short....we will see if it ends up biting me in the end. I still an ticipate we could drop as low as the low we had in february and create a massive double bottom that would springboard us back into a mega bull run but fornow that is completely hypothetical...and for now I remain shor on the short term...good luck out there.
BITFINEX:BTCUSDShort
by DrDovetail