Solana (SOL): Massive Upside PotentialIn this post, I'll be taking a technical approach to Solana ($SOL) .
Disclaimer: This is not investment advice. This is for educational and entertainment purposes only. I am not responsible for the profits or loss generated from your investments. Trade and invest at your own risk.
Analysis
- Solana is currently ranked #6 in terms of market cap, with a size of $58B.
- It is a rising platform that is arguably more efficient and cheaper than existing ones.
- Looking at the technicals, there are three main points that I found to be very bullish:
- First, we broke through the trend line resistance that connects the higher highs.
- Also, despite the massive price dump that took place across the entire crypto market yesterday, Solana has managed to maintain its momentum.
- Third, the volume continues to increase as we trend upwards, demonstrating confidence from buyers.
- The moving averages are also aligned in order, indicating that the overall uptrend on the longer frame is intact
- Counting waves, we can see that we are currently in the midst of the fifth impulse wave.
- Based on fibonacci retracement levels, we could expect strong resistance around $250, with a target up to $770.
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FTX
$FTT - should go searching for ATH end of this weekYesterdays dump took us into a D OB
Today we came and sweeped the wick low yesterday
Now we have got above the H1 up candle - the BKR - the breaker - that caused the sweep, and retesting it as support!
Missed limit entry at top of breaker - wasn't at PC
Market longed - aiming for -0.236 fib of H12 range confluent with around $90 - psychological level
Don't let me down SAM
FTT/USD bullish uptrend will continueAfter I posted the last idea of FTT,
It bring a crazy pump more than 40% in one day and reached ATH.
"FTT/USD go to ATH soon?" << you can go to my profile to see this idea.
Here is my latest idea of FTT:
- 4 hours chart break the down tread, seems the correction is completed?
- In trending trading, the bullish stocks will keep creating the ATH.... FTT can do that too!
- In the latest FTX IEO, the new token bring more than 100x... It mean next FTX IEO will bring more people to join and FTT demand will be high....
- If compare BNB and FTT, FTT token still in low market cap...
As said, FTX is growling fast and which is a innovation crypto exchange,
it also is a long term project to me.
This is not financial advice. Just my point of view.
You're welcome to leave your comment if you want further discussion.
#BTC : Simple Trading SetupQuick #BTC Update:
1. We are clearly uptrending with a strong break of diagonal resistance
2. We are approaching the rejection level of the large Head & Shoulders pattern and if price stays above 49500 we could see a strong push to 55-57k which signifies failure of the previous pattern
3. We are moving upwards in a slanted trading range, while in this structure and not below we can expect an upwards breakout (following the previous trend leads to success usually)
4. Jack Dorsey (CEO of twitter) may be adding BITCOIN payments to the platform, extremely bullish news in my opinion.
www.coindesk.com
Where is invalidation?
I will cut my trade probably if we lose $48,000 region.
BNB USDBNB is a little over extended for me right now so waiting for it to come back for another entry.
Looking at a short term trade here to either take profit at the current resistance or watch closely with alerts in case we break the top and start to move higher.
Looking at either that support level or current uptrend for an entry and ideally buying after it cools off a little.
If it doesnt pull back this far and starts to run after a small retracement I may look at the break out above resistance for another trade but not ideal.
BNB Binance coin being squeezedCould see a push on BNB today after this squeeze being forced over the last few weeks.
Got a good pick up around 460 on the EQ at the end of the month but looking to hold this through the decision here.
Break above could see a rally to high 500's
Break down or rejection at this level could see us range back to 460, but with Bitcoins latest push I dare say we will see some bullish momentum on some of the high cap alts this week.
Bitcoin reclaiming the rangeonly an hour to go on the daily close and we have crossed back above the current resistance and 618 retracement from ATH.
A solid close above here could confirm the bulls are back to keep us about the 50k level and find new support to now trade the 50-60k range over the next month or so.
Expecting Bitcoin dom to climb a little but only short term as the bullish sentiment will bring confidence back into the alts as people begin to reaccumulate there alts.
Bitcoin range getting tighterWas an interesting night with Bitcoin forming a Higher High in this tightening range but we where still met with resistance from the previous high of the trend over the last month.
The rejection or double top wasnt ideal to see this continue further as its not confirming a potential distribution through this tightening range.
How ever a tightening consolidation like this can also become an accumulation phase and break to the upside reclaiming that range between 50-60k which would be nice.
Not banking on it though and been sitting in a hedged short for a while expecting price to fall from here, weather its a drop back top 30k or maybe around 42k for a mid term market correction we will just have to wait and see.
Axie Infinity moving into a SQUEEZE AXS/BTCAXS has been pushing into a squeeze with this pennant forming over the last few weeks, and there is normally only 2 outcomes from this pattern.
If the hype is still around this coin then I would expect a push upwards and because of ATH levels I would be using a trend based fib to find some hidden levels, which also lines up pretty well from the measured move of the last impulse.
If the hype has dropped or moved onto another coin for now then I would expect a significant pull back on this market, its had a solid run so a big pull back is due.
Polkadot DOT/BTCDots had a solid run over the last month, i only traded this on spot and was happy to ride the waves, how ever im feeling a possible retracement coming at the moment.
We have hit a level of resistance and after the run we have had and the 3 impulsive moves, I would be expecting a descent market correction over the next few weeks.
Bull case is a sharp and short term pull back met with a continuation of this current momentum, breaking the level of resistance and pushing higher for a new target.
Bear case is either a much deeper retracement or we double top at resistance and head back down to the EQ level between the 50-618 retracement of the entire run.
I would still consider that to be some what heathy market structure but not something I will hold onto.
Basically for this position im watching closely on this short term pull back, if there is a lot of selling i may take my profits early and let it cool down, if the selling is minimal and the pull back is slow, then ill hold my position and watch closely at a potential double top.
#ftt FTX token, new leg up!It's a gem for next bull ran. We have Massive ressistance at 54$, after breaking ftt will have moon bang.
Also bullish triangle.
Globally waiting for 200$ and 600$ per #FTT. SL only after closing 4h candle under 44$.
Risk under your control.
Sorry my old idea was inactivated, because i published for russian language(((((
FTT/USD go to ATH soon? FTX is my favorite exchange and it become stronger and stronger.
And I like FTT token too!
If we look for the FTT/USD pair, it is similar with ETH/USD.
- Cup with handle pattern
- Fib 0.5 very strong support
- Weekly MACD candle is green
- Build up more than 3 weeks
FTX is growling fast and which is a innovation crypto exchange,
it also is a long term project to me.
This is not financial advice. Just my point of view.
You're welcome to leave your comment if you want further discussion.
#FTT to $164 | FTTUSD #FTXHello Padawans,
First of all, I request you guys, do not take this analysis as a piece of financial advice,
DO MORE RESEARCH, DO MORE ANALYSIS!!!
FTT is a good project to me, FTT is a token that serves as the backbone of the FTX ecosystem. The token is intricately designed to increase network effects and demands for the token, while also helping to decrease its circulating supply. #FTT to FTX, looks like #BNB to #BInance.
This is a small analysis,
I tried to figure out some patterns,
I placed the fib, and later I have got those results.
Extensions
261.8% 164.2616
200% 138.25
161.8% 122.1716
138.2% 112.2384
100% 96.16
61.8% 80.0816
50% 75.115
38.2% 70.1484
23.6% 64.0032
Let's see what will happen in cryptoverse.
To FTT to reach $160 BTC should stay above $65000 level(Its ATH).
Cheers guys.
May the force be with you.
FTT Ready?FTT is one of my favourite altcoins, with a great future ahead. Now looking short term FTT is approaching the resistance after a series of higher lows creating a triangle. It might have one last rejection at the resistance before breaking it in the next 1-2 days. 25% profit ahead reaching the old ATH and probably temporarily violating it reaching $63. Bullish signs of a possible successful breakout are:
- Bullish engulfing in the last support
- VMA providing momentum and support on the breakout
- bullish cross on the Stoch RSI (daily)
Wait for a breakout for a safe entry with a stop loss below the last low (aggressive)
FOLLOW ME, SHARE, LIKE AND COMMENT.
If you have any questions feel free to ask.
BNB looking solidBNB much like Ethereum had a huge pennant play out on the higher time frames against bitcoin which broke out over the last few weeks with descent conviction despite relatively low volume.
Market is having a little cool off but respecting a equilibrium level at the moment how not ruling out a sharper pull back to around the 382 fib line.
If the trend stays in tact and can break the current high then looking at the supply block for another descent market correction on BNB
Aave in a rangeA fair few crypto currencies are currently stuck in a range against BTC at the moment but showing bullish signs.
Still a bit to clear yet but the momentum is pushing these coins to the upside towards the resistance of the range.
Chasing the trades from here could be lo probability but the confirmation of a break out of this range could see us move higher with an impulsive if it can reclaim resistance as support.
Downside potential is breaking the lows of support of this range and possibly forcing price towards the next support, unless we get a bounce on the bottom of this range.
Overall the bulls are on the side right now but dont be expecting fireworks until we break the top of the range so could just be a short term trade for now.