MATIC Token Breaks-Out Targeting 2.80Asset:
MATIC TOKEN
Polygon’s MATIC token has broken out of an inverse head-and-shoulders formation that has been developing since early July on its daily chart. After moving past the pattern’s neckline at 1.63, the altcoin surged by more than 10% to hit a high of 1.80.
-A further increase in buying pressure around the current price levels could push MATIC’s price by another 56% towards 2.80. This target is determined by measuring the inverse head-and-shoulders’ widest range and adding that distance upward from the breakout point.
-Given the significant interest around the 1.63 support level, token holders would likely do anything to prevent their investments from going out of the money. They may even buy more tokens allowing prices to rebound and reach the head-and-shoulders’ target of 2.80.
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Hodl
IOST / USDT Price Action AnalysisHi traders,
This will be a very quick and simple chart on IOST
Now, how has the price for IOST been performing?
Well after reaching an all-time-high level on February 19th, IOST/USDT started to correct the gains towards a key pivot level shown here in orange.
-However, the launch of mainnet could create another spike towards last week’s highs or perhaps even higher. with the supertrend indicator we can clearly see the corrections and support.
-The pair has been enjoying a healthy uptrend on the daily chart, above the Ichimoku Cloud, so if the mainnet launch goes smoothly, the choppy corrections could provide a buying opportunity.
-For more chart analysis on the crypto market follow, and if you agree with this, like and share.
Solana,Recover From Dip To New All-Time HighsHello Guys,
Today we have to talk about #SOLUSDT
Investors appear to have taken advantage of the recent flash crash to buy Solana and Fantom at a discount.
Key Takeaways:
More than $300 billion was wiped out of the entire cryptocurrency market cap during Tuesday's crash.
Solana and Fantom managed to weather the storm and rebound strongly.
Both cryptocurrencies have made new all-time highs, luring investors into long positions.
Solana and Fantom have quickly recovered from the market’s recent flash crash. Both assets now sit at crucial support levels that could propel them into higher highs.
Conclusion: The significant increase in buying pressure has allowed several digital assets to recover to new all-time highs.
For more chart analysis on the crypto market follow, and if you agree with this, like and share.
Bitcoin Finds Support!After tumbling from the $50K handle, Bitcoin appears to have stabilized in the mide $40K's. We have found good support from our levels between $45K-$46K. Recall that there is a cluster of these around this price range, and we gave you a heads up that support was likely. Currently, the price action is completely flat, suggesting that Bitcoin is digesting these lower prices and establishing value here. If we do catch some momentum, the next level above is $48.2K. If we are able to break current levels, we should find support from $43.8K.
Ethereum Price AnalysisETH has broken out from the triangle pattern and retested. As the volume spike is not much the breakout arouses suspicion.
It can continue the rally where 3540 could act as a strong resistance (based on previous price action) further rally can be seen if it breaks the same. Meanwhile, The short-term support zone can be seen around 2900-3070. Breaking this could trigger a large downside. Unless the price dips below support zone, the current bull run is intact and long positions can be continued. If this is is a false breakout, the price could move inside the triangle pattern or even break the lower trendline and even correct based on market conditions.
Note: The price action of ETH can be influenced and affected by Bitcoin, so Kindly refer to BTC Technicals. This is not an investment Advice, Do Your Own Research Before Taking Trades/Investing.
What caused the 19% Crash and is the Pain Over?#BTC / USD PIVOT HL indicator
4 billion in liquidations wiped out the derivatives market, sending BTC lower by 19% at the intraday lows yesterday. Crypto Twitter went into panic, as exchanges were unresponsive, investors struggled to fill orders, and fears of a bear market began to spread.
Days like yesterday make it easy to panic sell without thinking about what was actually happening. Although the charts looked horrible, on-chain data was flashing completely different signals, showing that long-term holders and large cohorts were not selling this pullback.
For the last few weeks, futures open interest have been soaring, increasing from 9 billion to a peak of 12.8 billion. Within hours after BTC crashed, open interest dropped from 12.8 billion back to 9 billion and has been holding steady since.
The speed of the massive drop in price made it look like whales and long-term holders were dumping, but this was mostly forced liquidations all happening at once, causing prices to fall until the next bid. In short, there was not enough demand at that time to absorb the billions in liquidations. This is the price the market pays for adding leverage and derivatives. When open interest rises quickly or a trade becomes stacked, leverage tends to be flushed out.
For more chart analysis on the crypto market follow, and if you agree with this, like and share.
Bitcoin Plummets!! 📉😱Bitcoin has smashed through lower levels to find support in the mid $40K handle. We rejected $52.8K, which was the next major level we had to break before we could achieve the mid $50K's. The selloff took us back to $43K at the lowest, before we were able to recover back to the mid $40K handle. Currently, we are finding support at a cluster of levels around $45K, and we see some green triangles on the KRI as confirmation. But the last of these levels, $46.2K appears to be providing resistance and Bitcoin still looks technically quite weak. The Kovach OBV has plummeted, and is still bearish, which may suggest there might be more fallout to come. Wait and see what happens around the $45K-$46K price range. There is strong support at these levels, so if we were to see Bitcoin stabilize, it would be here. Watch for a bull consolidation pattern such as an inverse head and shoulders to form around here for an insight as to whether we will recover to the upper $40K handle or the $50K's.
BTC Explanation and Discussion.Let's review BTC after all the hype of the current pullback.
Discussion
It's been amusing reading analysis from so-called experts on Reuters and Yahoo finance. The Youtube videos by 'gurus' are not funny, they are just plain sad!
So let's look at some of the arguments from the VSPs (very serious people):
1) the so-called 'crash' was caused by Hash Rate failure. REALITY: Hash Rate as indicated (refer chart) has not materially declined - unless the data is wrong - there is no sign that this explanation is correct.
2) Fiat Currency is destroying BTC in order to teach El Salvador a lesson. REALITY: What evidence is there that the price move is materially different than what has already been experienced in the recent past? Do these VSPs check-out a daily price chart? (refer yellow box indicates a larger move)
3) It's a sad day when the Youtube gurus trade the past, and do it sooo badly they even confuse the dates. One minute they are in the future using past information, the next minute they seem to mix the dates of volume vs price as if one leads the other, but they are actually pointing to the sell off bar its - it's like the worse of the worse. REALITY: Time travel is not yet possible.
4) Panic to regulation and taxation. REAILTY: Actually most countries have property ownership laws and taxation on gains . Property laws protect consumers, and taxation normally affects only the HNW investors, who usually manage their affairs to avoid tax.
5) China has banned cryptos . REALITY: China has banned margin FX for years and yet the industry still exists. Chinese regulation waxes and wanes - do you see anyone in China handing over their wallets to the Chinese authorities?
6) Lack of Chinese mining creates downward pressure on price. REAILITY: New entrants enter the market like New Zealand with excess hydro power. So this is not an issue.
Current State:
1) SOPR is currently greater than 1. Spent Output Ratio hasn't peaked and its not negative.
2) HODLíng is evidenced by the fact that the Percentage of Coins in Circulation that have NOT Transacted for more than 1 Year has actually increased from recent lows, although obviously there have been sells in the prior rallies and price tops. Recently that percentage has steadied and turned up! It's certainly not at a historic low point to mention it as a catalyst.
3) Breakeven trading on Price rally has slightly occurred, but that was at the top of the range - not a 'sell at market' - > panic.
Why Volatility?
1) Firstly, is this a flash crash? Well, what is the definition of a crash? Certainly one day price moves have been larger, so in that context - it's not a crash!
2) Selling at market drives price down - that is, 'hitting the bid'. Long traders exiting underlying positions absorb supply - they don't add to it!
3) Leveraged longs selling at market, automated stop losses from future programmes, no circuit breakers, no Order Book regulation, lack of Central Order Book, lack of spoofing controls using APIs etc., exacerbate volatility - that's just common sense.
4) Platforms going down not allowing traders to unwind position, future brokers selling underlying in hedge programme exacerbate a reflexive response to further exacerbate the situation. It has happened previously, and volatility will occur again - given the current state or order books decentralisation, regulations etc.
Next Steps
1) I am long and holding. Price topped-out at the top of a range and lows bounced-off swing traders costs basis - so there was buying at that level.
2) The market 'stabs' down i.e. probes the Order Book to the downside - it is normal to have further downside moves, but - check if down moves are accompanied by a pick-up of volume (selling at market) or due to lack of buying pressures - there's a difference!
2) Manage your risk by margining exposure to risk - don't use leverage (common sense, cryptos have plenty of volatility to make money) - greed doesn't pay!
3) We have seen larger moves in BTC and DOGE etc., this is not a unique position - so don't frame it as one ... just yet!
Is ETHUSD Aiming a new ATH?Ethereum ( ETHUSD ) has seen a decent recuperation in the course of the last 6 to 7 weeks. Subsequent to making a new ATH , it dipped hard following over half.
A good place to open a long position would be during the retest of the support level or the breakout of the immediate resistance level .
ZigZag/TEMA has again visited the overbought zone, which shows strength and is a good sign to see an upward move.
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Happy Trading!
Bitcoin Rejects Highs!! Check out our Trading Idea 🤓📈Bitcoin faced a sharp selloff at relative highs at $52.8K, which brought us down to support around $50K. If you recall, we proffered a trading idea where if bitcoin could definitively break $50K, and retrace, then we would enter a long trade at this level. This trade is now in effect, and we are using the lower wick at $50K as an idea for a stop loss. A green triangle on the KRI further supports this trading idea. The profit target would be relative highs at $52.8K or so, but we will keep monitoring the trade for momentum either way. The trade has more than a 4:1 risk:reward ratio, which is pretty good for crypto. If we are wrong we will find support at $49.7K. Both the Kovach OBV and Chande have dipped notably, suggesting we are oversold.
BNBUSD UPTREND RALLY#BNBUSD UPTREND ANALYSIS
i think if the bulls continue with the buying power, it can grow to the next level and after that it can grow again after consistency of price above the retest level.
- My Pivot HL is telling me that there will be another pump very soon.
- BNB is by far one of the most bullish altcoin out there!
- For expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio ( RRR )
- 5x Parallel channel can act as a support / resistance in the future.
- If you want to see more of these ideas, hit "Like" & "Follow"
btcusdt/1Dtrader/longposition/hodlBINANCE:BTCUSDT
But in the daily time of the bitcoin trend
Quite upward and upward
After a small price correction
Can return to its own upward trend
Keep going so the holders do not
have to worry about falling
CHIZWETH MA ANALYSISChiliz (CHZ)
#CHIZ / WETH
A Simple technical analysis on CHIZ WETH 1 DAY CHART.
Follow, like and share if you agree.
BTC - the market does NOT tell me to Sell.......yet :)BTC grinding towards the previously noted price target of $53-$54 mark. That coincides with closing price levels and swing traders' cost basis.
SOPR is net positive with no material profit taking indicated by Realised Profit & Loss Indicator. BTC price risk in-part based on future spreads indicates a possible pullback - but that would be anticipated as price approaches this level anyway. Futures market yet to catch-up I think to the underlying.
I am remaining Long BTC because the market is not telling me to 'SELL' :)
HBAR ride is comming soon :)We break this trendline + range high and fly. First rezistences are monthly level 0.36, daily at 0.41 and after we claim these levels price discovery mode follows us to the moon. 1.618-2.0 box is my first target area. 2.618, 3.618 next. But better hold this project forever :)
SOL-USDTWith a strong use case for SOL, optics from breaching the top 10(Now #7), and more projects/NFTs/exchanges becoming intertwined, I think SOl is bullish long term. It will be interesting to see how Solana competes with Ethereum and ADA in the future.
Bitcoin Trading IdeaIf we can break through $50.8K, we can wait for a dip back to this level, with a limit buy order here. The stop loss would be immediately under the level below at $49.7K. The profit target would be the next level at $52.8K.
HODL.USD target 7.5$Wave B is almost complete (same as for BTCUSD and the rest of the crypto market)
Now we need a corrective impulse with parity to wave A. Target 7.5$
At that point it will be a stong buy with target 3-4x
Bitcoin Holds $50K!! 🚀🌕Bitcoin has found support at our level at $48.2K and rallied back to $50K. It is showing a clear affinity for these higher levels, suggesting a breakout may finally be on the horizon. Recall that we must solidly break out from $50K to solidify the bull rally that took us from the low $30K handle back up to current levels. We are sitting at about $50K exactly right now, and the fact that it has not rejected this level yet is a great sign for bulls. Immediately above, however, we will see resistance from $50.8K, but we are seeing a bull wedge forming suggesting that Bitcoin is building up steam to break out. After this level, the next target will be $52.8K, and this should solidly claim the $50K handle if we can achieve this level.
Bitcoin Tests $50K Again!!Bitcoin has just about fully traversed the range back to highs, from lows at support at $46K. It has stalled out just below $50K, teasing us again by playing this range. Until we get a breakout from $50K, we are unconvinced that bull momentum has fully returned to the market. Watch for support at $49.7K and $48.2K. Also recall that there is a cluster of levels to provide further support in the $45K-$46K range. The Kovach OBV has leveled off, suggesting momentum has petered out for now, and we are unlikely to break $50K any time soon.
8PAY all day 🔥*NOT FINANCIAL ADVICE: DYOR - This idea IMO for personal use only*
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I like this one. At the time of charting this it ranks #1603 on coinmarketcap with market cap $1.66M.
One to watch. For now, a small hold bag and staying bullish.
**definitely watch this space IMO**
Using naked price action analysis:
🔸 ATH , Volume, Fib
🔸 For Trading: Suggested Entry, SL & Exit points are my theory only.
🔸 For Holding: Since this is a hold strategy / bag-set-and-forget strategy, I will DCA along the way, so any entry is a good entry.
As always, watch for volume. Do your own research, check on-chain data. Always be watching BTC.
This is not Financial Advice.
Good chat.🤖
Bitcoin at Support. What's Next?? 🤔Bitcoin has slowly trekked downwards, finding support at $46.2K. We should continue to see support at this level, and we recall that there is a cluster of levels below in the $45K's that should provide additional support if needed. If we smash through, then $43.8K would be the next point at which we should see support. If current levels hold, we can expect BTC to continue to feel out the $46K to $50K range.
WAXPUSDTsee and watch :)
The currency seems to be very good for mid-term and long-term investment...
Market Cap : Approximately $ 400 million
Rank #147
