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Does Elon Musk Have Superpowers?For the question in the graph, if you choose any answer that doesn't include Elon, congratulations! your IQ is more than 0. Many of the Crypto traders idolize Elon Musk to the point of laughing at his jokes on SNL. They like to think of him as Tony Stark of sorts and some kind of a modern redeemer who is sent into the "simulation" in order to take humanity to Mars. Lately, even many "professional" analysts have jumpen on that wagon, attributing to him the super power of single-handedly bringing the Crypto market to new lows, making it lose 20% of its value just because the "real" Iron Man's climate conscience has just woke up to the fact the Bitcoin's mining is a big consumer of power. Now, even many of his worshipers after finding that their wallet were getting slimmer by the second, have made him into a Marvel villain. Reality is more boring, unfortunately. In order to prove this, I offer you a simple check: momentum. Here are the steps: Draw a curve across all the high points in the trend and and another across the low points. If they are both curving downwards, then the momentum is definitely downwards. This would also give you a rather simplistic projection (channel) of where the price should move, as long as the trend would continue, of course. Check the volume. Tipping points are usually surrounded by a surge in volumes. RSI is an important measure of momentum. When less than 30 or more than 70. the momentum is at its highest and a turnover may come at any time (one must be careful about this duality). In between those numbers, a turn over is likely more if we are inside a range. Based on these simple checks, the said tweets had 0 effect, since the decline is perfectly fitting to the continuum of the trend. In addition, recent stock market correlation also had a major effect, given that the stock market is currently going down. These are simple checks; there are other ones involving more precise mathematics and better visuals, and Elon Musk is not any equation. BTC is no DOGE in term of volumes, and if Mr. Musk was so godly, he should have saved TSLA's prices from tanking instead.
COINBASE:BTCUSD
by MontyMacht
3
CRV: An Obvious Accumulation before MASSIVE RALLY!CRV is currently building up an ascending pennant after forming a cup and handle shape since its beginning. Accumulation has been going on for several weeks with the price squeezing into the 2.951 to 3.651 range, which likely forces a break up out of the pennant resistance (3.548). Currently it has rebounded strongly out of the 2.4 support line, where the 0.618 fib level is, this validates 2.4 as the support we see it not to break for further bullish momentum. A breakout of the pennant with bullish volume and Price action will see a retest of 3.652, where we can increase position sizes on the dip or make a new entry with confirmation. Entry around 2.951 - 3.2 (support zone at the bottom of pennant confluence with 0.786 fib level) Targets are 4.488 (previous ATH), 5.629 and 6.746 Stop loss below the pennant and support line of 0.618 around 2.091 (can below to allow for some volatility)
Long
by Gold_D_Roger
FB Prediction and breaking down Wyckoff in 5 steps (the Curve)Before I knew what wyckoff was, I saw something in the market and studied it 12 hours a day for 8 months. Even made a rule set for it. It wasn't until 2 months ago I started looking to find the missing pieces of the puzzle. Thats when I found wyckoff. Wyckoff is the technical step by step version of what the curve is, except I can explain the curve in 5 steps vs 16-24 over 4 different variations and 4-8 different variations of that. It's a little too much for the avg person. The curve is purely visual and easy to understand. In this video I go over Facebooks price action and correlate that to both wyckoff and the curve. If you would like to see more videos like this please like follow subscribe, and leave a comment below. This will help me guage if there is a need to learn more. I have acquired savant syndrome , 1 of 33 people in the world, who have gained a talent after a traumatic brain injury. At first it was just art and painting. I never was great at drawing and I couldnt paint before the wreck. 11 staples later I was paint portraits near realism and spray painting 50ft by 50ft buildings, even though I had never held a spray can before that. I started looking at charts 9 months ago and have spent more than 12 hours a day since looking at them. The curve is my baby, I found wyckoff a few months ago. Together it gives me a vast understanding of whats happening in the market and where price should go. I combine this with some other things I have found in the market to plot trend lines that should envelope Price action and even predict the highs and lows as it moves. I use these trendlines not to predict really but to give me a non emotional trigger to either get in or stay out of the market. If Price Action respects the trendlines, then this would be a stock I would play. My target is the highs and lows of the trendline. Simple enough. I have started with an extremely small amount of money and have made more that 5 x my money which is hard when you can't really play stocks that are known for moving because they cost more. Finding cheaper option plays that are going to pop with momentum is what I have used this with in order to build my account large enough to play stronger more stable option plays like HD GS etc... Thanks again for watching, iCantw84it 05.15.2021
NASDAQ:METALong
by iCantw84it
Curve and Fib Analysis Confirms Continuation of the Trend to 46In this chart, I am confirming the idea I published a few days ago setting a price target for 46. We have been almost there at 44.4, and maybe it would prove wise to have had the profit taken at that stage, yet the analysis shows that the bull has still some breath left. The current minor trend fits perfectly in an ellipse as shown. This is an indicator that it would end with a relatively major push in one direction. The Fib circles of the medium trend also shows that the price will hit resistance and bounce back to support before the minor trend ends, which is also an indicator of the price moving higher after the ellipse is complete. The fitted curves show the drive upwards is influenced more by the lows rather than the highs, which is expected since we are very near the ATH resistance. Finally, the big FIb arcs are those of the major bullish trend since January, and as we can see, we are approaching a major resistance (261.8%) at 46.
KRAKEN:UNIUSDLong
by MontyMacht
No Bullish Sign for BTC, for NowIt might sound logical that BTC should go up quickly, since ETH is shattering one ceiling after another. ETH will have to rest and someone should take the helm and not leave the Crypto ship to the young and unexperienced DOGE. However, BTC is recovering from the last stroke right now and seems to need some more rest. Metaphors aside, the graph shows that BTC is still within the range trends that had been controlling its price since the beginning of the bullish cycle last year. A flat bottom and a curved up were not violated until the price broke the floor and retreated to the Bollinger Bands median of the weekly chart. This is a massive support by definition and any further breaks usually indicate a bearish market. Thankfully, for GOod Old Bitcoin, things are not that bad. Below, are the 2 most probable scenarios: BTC goes up in the coming days and hot the resistance of the previous flat bottom (also the upper Bollinger Band). The trends constellation continues until the upper curve meets the lower line near the end of may. This is also indicated by the Bollinger Bands closing down, signifying a probable flat period until then, that is a Bollinger Band squeeze. For me, based on evidence so far as shown in the graph, the second option is more likely. Where BTC goes after any of these options depends on the state of the market then. If the Crypto coins continue flourishing during the hiatus of their leader. then he would probably feel the urge to catch up.
BITSTAMP:BTCUSD
by MontyMacht
2
Curve: Massive BreakoutTo stay up-to-date with the latest market developments, be sure to subscribe to Kraken Intelligence at kraken.com With DeFi largely underperforming its peers over the past few months, it comes as no surprise that we're starting to see bullish momentum rotate back into the space over the past few days. This is evident when looking at DeFi's total value locked (TVL), which just jumped from $52.5B on Monday to today's reading of $59.8B. Curve (CRV) is among the various DeFi plays that appear to be regaining bullish momentum... Curve is a software that uses multiple cryptocurrencies to operate an automated market making (AMM) service focused on stablecoins (cryptocurrencies programmed to mimic other assets). One of a number of emerging decentralized finance (DeFi) protocols built on Ethereum, Curve facilitates trading not using a central order book, but rather pools of cryptocurrencies provided by users, who in turn can earn fees through their deposits. Like Uniswap or Balancer, Curve gives cryptocurrency users a way to earn fees on their assets, while letting traders buy and sell those assets at potentially better prices. What sets Curve apart from similar platforms, however, is its focus on markets for stablecoins like Maker and USDT, meant to track the price of U.S. dollars, as well as stablecoins like wBTC and renBTC designed to track the price of Bitcoin. Because of the variety of options on the market, each with its own level of risk, Curve’s goal is to allow stablecoins to be traded with low fees and minimal variation in price. Ok. The technicals. CRV's +25% rally today has pushed the cryptoasset to a new YTD high and through the $3.65 breakout price of a bullish cup & handle pattern formation. Although it's unclear whether CRV will be able to hold above $3.65 and continue trending higher, this breakout could most certainly transpire to a new parabolic uptrend for CRV. To get an implied price target of the cup & handle, first we measure from the lowest point of the cup to the breakout price ($3.65). Then we use that distance to extrapolate from the breakout price. By doing so, we'll find that CRV's implied target is roughly $7, or a +75% gain from CRV's current price of $4. Needless to say, things could most certainly get interesting from here on out...
BINANCE:CRVUSD
by phum126
CRV - welcome to summer levels? vol 2It's less than an hour for the daily candle to close and we can see that it has broken the Fibonacci resistance level 1, about $ 3.50. If in this daily view the apparently bullish movement that we appreciate consolidates, we will consider the new resistance zone between $ 5 and $ 5.50 (mark 1.618 Fib), matching the previous highs back in September of last year. In the event of a downward correction, the levels to be taken into account are reflected here. Thanks again
Long
by harribatu
1
CRV / USDT breakout on the dailyCRV breaks out on strong volume on the daily candle. This is a great place to enter a position, or wait for it to pull back closer to the breakout point of 3.68. I believe the price will come down to around 3.8, but not linger much lower for long. Of course, this all depends on market conditions. A great entry is around here or 3.8 with about a 10% stop loss. Profit target: 25% , 40%, 60% + always dependent on market conditions, reversals, signs of weakness, etc. ---- Update April 2021: We are in a tighter environment in terms of pumps, so I am taking profits sooner rather than later, around 25%, 40% and 60-70% range. It is really up to your experience and comfort on how long you let your winners ride. My Crypto Strategy: I enter trades in 5 and 10% positions (of total trading portfolio). If possible, I add to successful positions (in profit already) to a max of 25% total of portfolio. For the 2021 bull market, my profit taking targets are around 40-50%, in quarters, thirds or sometimes halves. I like to let successful positions ride to 80-100% gains for further profit taking. Depending on the coin and pump cycle, I hold some positions thru 100, 200 or even 300% returns, taking profits on the way up. ($LUNA, $ADA, $BTT) My trading account is entirely separate from my HODL bags, which I do not trade or touch. Trade with me on Binance! Get 10% OFF your trade commissions for life when you sign up with my referral link: www.binance.com
Long
by EddieTradez
CRV cup and handle breakoutCRV looks to have broken out of the cup and handle pattern I mentioned a few days ago. There still looks to be some resistance around 3.80 USD, but if that breaks, 4.40 USD looks to easily be within reach and beyond. There also looks to be no red flags indicating a fake out from MACD and RSI from what I can tell, so it looks like the largest risk I see is if BTC loses support, as no trend is guaranteed and all bets are off if BTC breaks (would love to hear your thoughts if you see something otherwise, so please leave a comment if you disagree). Otherwise, CRV definitely looks to be an alt to keep an eye on in the next few days.
BINANCE:CRVUSDLong
by crypto_trends