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TOTAL - Tells The Whole Story!I usually keep an eye on TOTAL to get a feeling about the overall crypto market bias. Just like I keep an eye on DXY when it comes to Forex. From a long-term perspective, the WEEKLY chart on the right, we all agree that we are still overall bullish. Technically we are trading inside that big brown channel, and we are currently in a correction phase after rejecting the upper bound / brown trendline and 3T round number. From a medium-term perspective, the DAILY chart on the left, we had a classic higher high, followed by a lower high, and then a break of the previous low. A classic market structure pattern, known as Head&Shoulders. After breaking below the head and shoulders neckline, marked in gray, the bears took over and TOTAL started trading inside the red channel, making lower highs and lower lows. That being said, we know that we are overall bearish, but what are the possible scenarios? Scenario 1: Projection in Purple A movement till the lower bound / brown trendline and green support zone is expected before the bulls take over by breaking above the red channel. Scenario 2: Projection in Blue A sudden shift in momentum, by an aggressive movement from here to break above the gray zone again, invalidating the red channel, signaling that the bulls are taking full control again. Which scenario do you think is more likely to happen? and Why? All Strategies Are Good; If Managed Properly! ~Rich
CRYPTOCAP:TOTAL
by TheSignalyst
19
Bitcoin Trends DownwardBitcoin has broken through the support our trendline has been providing since the beginning of this month. We saw support at $47.4K, which is a strong technical level that has provided support prior. We are seeing several green triangles on the KRI to confirm support here. The Kovach OBV has dropped off significantly, but is drifting slightly upwards, suggesting that the malaise in Bitcoin is likely to continue. BTC traders can attest that trading has been choppy, with low liquidity and bot domination making scalping quite difficult. We will need to see more momentum come through either way before BTC makes its next move. Currently, $45K appears to be the floor, and $50K appears to be the high. We must break $50K before considering the long journey back to the $60K handle. At this pace, that does not seem likely before the year's end.
BITSTAMP:BTCUSDShort
by quantguy
ETH - Purple War Zone!ETH is overall bullish trading inside our brown channel and red Megaphone pattern. ETH is approaching the lower brown and red trendlines, we will be looking for Trend-Following Buy setups. Moreover, the area 3950-4000 is a "Resistance turned into Support". So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support and lower brown and red trendlines. As per my trading style: I will be waiting for it to approach the highlighted purple circle area to look for buy setups (like a double bottom, trendline break, and so on...) And we would be overall bullish unless the sellers manage to break below the green zone and brown trendline downward. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BITSTAMP:ETHUSDLong
by TheSignalyst
38
XLM - Potential Bullish Reversal!Hello everyone, if you like the idea, do not forget to support with a like and follow. XLM is sitting around strong support in blue so we will be looking for buy setups. on H4: XLM is forming a channel in red, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple) Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone) Meanwhile, until the buy is activated, XLM would be overall bearish can still trade lower till the lower blue support before going up. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
KRAKEN:XLMUSDLong
by TheSignalyst
17
3 Reasons to Be Bearish of BitcoinBitcoin is continuing to range between $48.2K and $50.8K. We are seeing a slight bearish trajectory here, and the Kovach OBV is arching downwards confirming it. From a broader perspective we are in a slight uptrend, getting support from a trendline andchored at lows at $45K. The technicals overall seem bearish. That rally from the selloff on December 4th seems very weak and the Kovach OBV is suggesting a bearish divergence. However, this being crypto we could see a large buying spike come in out of nowhere washing out weaker short positions. Otherwise, it seems likely for Bitcoin to hold the current range or dump to support at $47.4K or $45K. If we are able to break out, then we must break through $50.8K before we can consider solidifying the $50K handle again.
BITSTAMP:BTCUSDShort
by quantguy
Bitcoin Faces Resistance at $50KBitcoin has faced resistance in the low $50K's. We saw five red triangles on the KRI which should have been an omen to readers with access to this indicator that we would see a retracement. Sure enough, BTC took a sharp dip lower to comfort in the $40K's. We are currently seeking support in the $49K handle between our level at $48.2K and $49.7K. This is somewhat of a vacuum zone so watch for Bitcoin to range between these two levels and establish some value. If we continue to dump, we should see some support from the relative low at $47.4K. If momentum picks up, we must conquer $50.8K to get a solid foot hold on the $50K's. The Kovach OBV has attempted bullishness, but has dropped back down to lows, suggesting BTC is in the doldrums for now.
BITSTAMP:BTCUSD
by quantguy
2
ROSE - Trend-Following Buy Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow. ROSE is overall bullish trading inside the blue channel. Since it is currently sitting around the lower blue trendline, we will be looking for buy setups on lower timeframes. on H4: ROSE is forming a channel in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple) Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone) Meanwhile, until the buy is activated, ROSE would be overall bearish from a short-term perspective and can still trade lower inside the green support before going up. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
36
Will the Bitcoin Pump Last??Bitcoin had a bull rally come through, perhaps off news of Japanese regulators starting to look at stable coins. we saw some nice momentum come through as measured by the Kovach OBV. Still, it was nothing significant, and paltry compared to the selloff. A proper crypto rally should have closed this weekend's selloff candle. Nevertheless, we were able to break $51.3K, where we seem to be hovering finding support at the moment. There is a vacuum zone above back to $52.8K, where Bitcoin formerly had support. The rally looks quite weak, and it could be a bull trap, so watch support levels below like $49.7K, $48.2K, or $47.4K for support if another selling wave comes through.
BITSTAMP:BTCUSD
by quantguy
1
ETH & BTC - portfolio changes at the end of the bull cycleIn the last bull run in 2017, ETH was exploded within weeks compared to BTC few weeks before the BTC peaked. If we see nearly anything like that in the next few months, a potential strategy would be to weight in ETH until it reaches 0.12 and shift towards BTC. So, move from ETH to BTC between 0.12 and 0.15. And after that start cash out BTC as it climbs to the top at the end of the bull run. If BTC tops between 120k and 250k, ETH will get weeks before the top between 10k and 20k. Alternative I prefer, just HODL.
Long
by stojano
Can Bitcoin Recover??Bitcoin turned sharply south just below $50K. We commented Saturday on a potential bull wedge pattern forming in the high $40K's and that Bitcoin's price would be heavily dependent on how we reacted from there. We also hinted that it would likely press lower if we rejected those levels, which is exactly what we have seen. Bitcoin has rejected $49.7K and are currently seeking support at $47.4K We are seeing several green triangles on the KRI suggesting support here. We are just now seeing some momentum come through so we will see if higher levels hold. If so, we will need to break $49.7K to regain the $50K's. If current levels do not hold, then $46.2K is the next target.
BITSTAMP:BTCUSD
by quantguy
BTC - Take Your Time - We Are Hodling!Hello Trading Family, if you like the idea, do not forget to support with a like and follow. As per my last weekly analysis (attached below), BTC is approaching a demand zone in green and the lower brown trendline of the wedge pattern. on H4: BTC is overall bearish from a medium-term perspective trading below the blue trendline, but since it is approaching a support zone, we will be looking for buy setups. But before we buy, we want the bulls to take over again. For example, and as per my trading style, I will be waiting for a new swing high to form around the blue trendline to consider it valid and then buy on its break upward. Meanwhile, until the buy is activated, BTC would be overall bearish and can still dive inside the green zone. In this case, we will be looking for new buy setups to form. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BITSTAMP:BTCUSDLong
by TheSignalyst
28
Bitcoin Dumps!! What's Next?? 😱📉Bitcoin was looking pretty bearish yesterday and completely fell off a cliff last night. We smashed through support in the $50K's, and reached as low as our support level at $41.9K, before equilibrating in the high $40K's. It does seem to be forming a bull wedge at $48K, however, we are seeing a red triangle on the KRI, so exercise extreme caution if you're thinking of buying this dip. I did (obligatory disclaimer: this is not investment advice. @quantguy is not an investment advisor, bla bla bla you know the drill), but I'm fully prepared to add more if it dumps further. If we do reject $48K, then we could test lows of the $40K handle again, which would be a bad sign, because the more we test the low $40K's, the more comfortable we are breaking down further into the $30K's again. If we are able to break out from our wedge pattern at $48K, then we should be able to reestablish the value area around $53K. So how long will this bear market last? Again, this depends on what we do with $48K. If we can solidly break out from this level then we're good to go for the $53K's. If we dump further, we could see $30K's, in which case it could take a few weeks to trek back up to the $50K's. Unless our crypto lord and saviour Elon Musk (yes that is sarcasm) answers our prayers for another tweet.
BITSTAMP:BTCUSD
by quantguy
6
BITCOIN - Now What?Bitcoin rejected the 60k and traded lower. NOW WHAT? Weekly: BTC is overall bullish trading inside the brown rising wedge pattern so we will be looking for Trend-Following Buy setups as it approaches our lower brown trendlines. The highlighted purple circle is a very strong area to look for buy setups as it is the intersection of green in blue (40k zone) and the lower brown trendline. As per my trading style: I will be waiting for BTC to approach the highlighted purple circle (area) to look for possible buy setups (like a double bottom, 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
BITSTAMP:BTCUSDLong
by TheSignalyst
30
ETH - Purple War Zone!ETH rejected the 4500. NOW WHAT? ETH is overall bullish trading inside our brown channel so we will be looking for Trend-Following Buy setups as it approaches the lower brown trendline. Moreover, the area 3950-4000 is a "Resistance turned into Support". So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support and lower brown and red trendlines. As per my trading style: I will be waiting for it to approach the highlighted purple circle area to look for buy setups (like a double bottom, trendline break, and so on...) And we would be overall bullish unless the sellers manage to break below the green zone and brown trendline downward. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BITSTAMP:ETHUSDLong
by TheSignalyst
10
What is Bitcoin's Next Move??Bitcoin is maintaining the range between $55.7K and $59.4K. The KRI is indicating support at the lower bound (green triangles) and resistance at the upper bound (red triangles). From here, the crypto market surely needs to establish direction, and we are getting mixed technical signals. The price action does appear to be rounding off, suggesting lower levels, but we are seeing a bit of a bull divergence, potentially suggesting a breakout. If you do start to accumulate at current levels, be advised that we could press lower, and keep a tight stop loss, or plan on adding at lower levels. The lower bound still seems to be $52.8K, but a serious dump could easily take this out. We will need to definitively break $59.4K to see the $60K's again.
BITSTAMP:BTCUSD
by quantguy
1
BANDUSDT Might have a 50% rally, Ascending Triangle FormationBand is showing an ascending triangle formation on a daily chart and hence the confirmation I take of this being the workable pattern is hitting of price of 9.8-10, at which Ill sell the made making roughly 20% and then it should fall, if it did then we can say the pattern is actually there, if not and price just went down right from here then ill have my stop loss at 6.9 roughly 10% (lol ill sell at 8ish max). So yeah, that's it. Note: This is not financial Advice just my own trading opinion and personal trade info, DYOR before investing/trading any crypto or coin, I do not take any responsibility of the loss assumed by you in any trade you took based on my analysis. Please do share your analysis as overall it helps the community and encourages participation, thanks for reading whole note, Please feel very free to type in your analysis or point, will be happy to read and reply as sharing information is sharing wealth. Good Luck!!!
Long
by Shradosphere
Can Bitcoin Breakout??Bitcoin has been jostling for direction lately, after being batted down to $52.8K, then rallying back to $59.4K, where we saw resistance confirmed by a red triangle on the KRI. We are settling right now in the low $57K's, but there is a bit of volatility in this narrow range at is struggles to find direction. The Kovach OBV is gradually picking up strength, potentially suggesting a bull divergence. Additionally, we are starting to see an inverse head and shoulders forming with a neckline at $59.4K. Watch for BTC to tend toward the neckline before breaking out further into the $60K's. If so, $61.6K and $62.4K are the next targets. If we reject the neckline, it will be a bearish sign and we could retrace to $52.8K again or lower.
BITSTAMP:BTCUSDLong
by quantguy
1
Synthetix (SNX): A Safer 4X in Next Couple of Months!---Kwenta Testnet Takeaways, Next-Price Orders, SIP 80 and 184, and Synthetix Bottom Line--- The following is taken directly from the Synthetix io Blog update, dated 1 December 2021 and titled, "Futures Update." These are only excerpts and you would be well served to read the entire blog update. Kwenta Testnet Takeaways: "Much progress has been made and numerous lessons learned, culminating in a Kwenta testnet competition held in October. Overall, the testnet competition was a great success. The futures market functioned as intended, and also highlighted some opportunities to enhance the usability and efficiency of the platform without adding too much additional scope. One of the takeaways was that frontrunning still poses a legitimate risk on L2 if Synthetix is going to offer low fees for perpetual futures. This prompted the introduction of SIP-184, which dynamically adjusts exchange fees in response to price instability. With SIP-184 as a backstop against volatility, base exchange fees can be safely lowered. Research done as part of SIP-184 suggests that ~20bp exchange fees could be feasible, with the dynamic fee only kicking in ~1% of the time. Note that this is just an initial target, and further improvements are likely to support even lower exchange fees." Next-Price Orders: "First and foremost, the transition to L2 has greatly improved the frontrunning situation for Synthetix. The scalability offered by Optimistic Ethereum enables Chainlink oracles to push updates much more frequently in a cost-effective way, thus allowing for spot synth exchanges with no fee reclamation and negligible frontrunning risk (with 40bp fees). The other main differentiator of Synthetix perpetual futures compared to other platforms is the role of funding payments. Traditionally, funding payments are used to align the futures market price with the spot price. Because trades on Synthetix are executed at the current oracle price, there is no need for such a mechanism. Instead, the funding rate is used to encourage balanced open interest and minimize directional risk incurred by SNX stakers. This brings us to next-price orders which, as the name suggests, are trades that execute at whatever price is reported in the next oracle update after a trade is placed. Because orders fulfilled at the next price update are inherently difficult or impossible to frontrun, they can be filled with an extremely low exchange fee and minimal or no risk of frontrunning. Note that next-price orders will exist in parallel with traditional atomic exchanges, and that atomic exchanges with a slightly higher fee will always be offered. The target user for next-price orders is predominantly arbitrage traders who will neutralize market skew to earn the funding rate (there will not be a UI for next-price orders initially). With lower exchange fees, these traders will be able to more efficiently neutralize even relatively small imbalances between long and short open interest. This will greatly reduce market risk passed onto stakers while also broadly lowering funding payments made by other traders on the platform. It is also expected that usage of next-price orders will decline over time as fees for atomic exchanges approach parity with next-price orders." SIPs: "These two additions (SIP-184 and next-price orders) are relatively minor compared to the rest of the futures scope (outlined in SIP-80), but offer extremely significant benefits to users. Thus, the tradeoff of incorporating them in exchange for a slightly later launch date is well worth the effort. Currently, SIP-80 and SIP-184 are both code complete and under audit. The additional logic for next-price orders is in progress and close to being finalized. The next steps from there are testing SIP-184 on testnet (this week) to push fees as low as possible, then getting ready for mainnet with a target launch date in mid-January. The mainnet launch will be rolled out in several stages, gradually expanding maximum open interest caps as the effectiveness of the underlying mechanisms are validated." BOTTOM LINE: "It’s been a long journey, but the light at the end of the tunnel is now clearly visible. In a little over a month, Synthetix will deliver a fully on-chain composable perpetual futures market on the highly performant Optimistic Ethereum layer 2, with top tier UX and unparalleled liquidity. While it would have been ideal to launch futures before the end of the year, more sUSD liquidity is still needed on Optimistic Ethereum and by the time mainnet launches there should be a significantly higher amount of SNX staked on L2 reducing the risk for everyone staking on L2. With the upcoming Debt Pool Synthesis, we will also have much more sUSD liquidity to leverage for futures traders." Hopefully, this isn't too much to take in. There was actually a little more in their update, but it is good that they are keeping us SNX hodlers informed. My (Garry, not Synthetix Blog) only additional thought is, at today's cheap pricing, SNX is one helluva deal for the project/platform. In my mind, I am positive we will see SNX shoot past its previous highs seen earlier this year based solely on a quality product/project. This isn't your nephew's favorite meme speculation waiting on a tweet to make you rich. When SNX retakes and surpasses its old highs, it will not fall near as easily as that next Dog coin. This a much safer 4x in my mind in the next couple of months!!! On a side note, I am increasing my SNX token count every Monday, earning additional tokens at 13.99% APY without the hassle of having to stake, validate or delegate my tokens. I just earned over 7 SNX yesterday, just like the week before and just like I will next Monday! If you want to do the same, I can give you my referral code to earn us both $50 worth of BTC if you do. TradingView does not want me advertising the exchange or my referral code here, but you can contact me if you want that info.
BINANCE:SNXUSDLong
by tg-l
2
Cup and Handle Formation in ENSBullish here as it seems to be a cup and handle formation and hence took a small long on the same. Note: This is not a financial Advice just my own trading opinion and personal trede info, DYOR before investing/trading any crypto or coin, I do not take any responsibility of the loss assumed by you in any trade you took based on my analysis. Please do share your analysis as overall it helps the community and encourages participation, thanks for reading whole note, Good Luck!!!
Long
by Shradosphere