Get started

Mycryptoupdate

GALA/USDT upward journey from demand? 🚀GALA Analysis💎 Paradisers, dive into the fascinating shift of #GALAUSDT from supply to demand zones, hinting at a bullish wave on the horizon. 💎 Reflecting on #GALA journey, it has masterfully navigated through its Cup and handle pattern, traditionally sparking ascents. Now, as supply morphs into demand, the stage is set for a bullish leap from this pivotal level, aiming for higher supply zones with continued momentum. 💎 Conversely, should INDEX:GALA falter in its climb, pivoting to a bullish stance from the demand level at $0.03547 might be our next move. While the temptation to sell may grip newcomers at signs of struggle, the wisdom lies in holding off for a clear dip below this level before executing strategic trades.
Long
by MyCryptoParadise
XRP/USDT preparing for bull move? ? 👀 🚀 XRP Today analysis💎Paradisers, get set for a promising opportunity with XRPUSDT as it faces a setback from the supply zone, suggesting a strong chance for a bullish rebound from the demand level. 💎Historically, we've seen supply transform into demand, propelling the price upward. Currently, after a rejection at the .6237 supply zone, there's a strong chance for a bullish pivot from the .5794 demand level. 💎There's also a possibility of a bullish turn from the .5575 demand level. The asset's robust position above the ema55 is signaling a potential uptick. 💎 On the flip side, should the price dip below the .5575 demand level, we could see a shift towards a bearish trend. Keep a close eye on these levels and plan your strategy with these dynamics in mind.
Long
by MyCryptoParadise
2
Bitcoin | Rejected again at 10K..! What now?After more than a month, Bitcoin is still in the same price range as before. We’ve seen a few breakout attempts to the upside, but none of them have been successful. The most recent price action was less than 24 hours ago. Bitcoin fell all the way from 9900, back to 9100. This price action was accompanied by the dump that arose on the stock market. Zooming in on the 1-hour time frame, we can see that Bitcoin lost nearly 9% of its value during yesterday’s drop. In addition, Bitcoin is currently testing the precious support level (at 9450-9500.) If Bitcoin can regain these levels, Bitcoin is likely to (re)test 9800. If not, keep an eye on 8800/8850. In our last analysis, we talked about the Hash Ribbon that signaled “Capitulation”. After 17 days we can see that this phase of Capitulation is not over yet. In our view, it is expected to take another 17 to 20 days before it gives a new buy signal. The previous buying signals result in an average increase of 40%. Past performance is not certain for the future, but it is certainly a factor to be taken into account. Data from the last three buy signals: From the Buy signal on April 25, 2020 – 38.18% From the Buy signal on December 19, 2019 – 44.65% From the Buy signal on January 11, 2019 – First a drop of 10% – Then a increase of 282.16% And last but not least; Bitcoin’s volume is still decreasing. This is a strange thing, as the volume should confirm the trends. We have mentioned this before in recent weeks, but we continue to find it important to mention this. Keep an eye on the volume, as this can quickly give you an idea where Bitcoin’s price is going..! A short overview: We are below the 20 Daily Moving Average (currently at 9511) We are above the 20 Weekly Moving Average (currently at 8308) We are above the 200 Daily Moving Average (currently at 8170) Volume is still going down Support levels at: 8800/8850 Resistance zone at 9500 and 9800 Thanks for reading and let me what expect from the current Crypto Market!
BITSTAMP:BTCUSD
by CryptoUpdateCom
Bitcoin | Small reversal (shakeout) before the Bull RunThis is a brief analysis of Bitcoin. Since our last analysis on April 29, Bitcoin’s price has risen by over 1000 dollar! The highest price Bitcoin reached was yesterday at a price point of 9485. We don’t see the “real” fomo yet, but it seems this is a small start. Something interesting that we did mention on the Bitcoin chart is a small pattern that is now forming. In the graph, you can see that every time Bitcoin has gone up, the price will move sideways for a few days before going down again. If true, Bitcoin's price should meet its target within 72 hours. The chance of reaching the price target between 8000 and 7750 is quite high. When we reach this target, we can expect an increase in the price and we see Bitcoin going to 10K in a short time. This is of course not 100% guaranteed. When Bitcoin does not go down again but closes a daily candle above 9K, we see this pattern as invalid. With only 11 days to go before the Bitcoin reward is lowered, it seems pretty decent for Bitcoin. A short overview: We are above the 20 Daily Moving Average (currently at 7434) We are above the 20 Weekly Moving Average (currently at 7902) We are above the 200 Daily Moving Average (currently at 7980) Bitcoin block reward will cut in half in 11 days Buy signal from the Hash RIbbon Support levels at: 8600 Resistance zones at 9000 Thanks for reading and let me know your expected price targets for the upcoming halving!
BITSTAMP:BTCUSD
by CryptoUpdateCom
Bitcoin | Has the Bull Run finally started?!It has been a great week since we wrote our last analysis! Not only Bitcoin was able to break through a number of important resistances, but the halving fomo also seems to khave started. As we wrote in our last analysis, Bitcoin fought for its Higher Highs (HH) at a price range of 6800. At that moment we did expect Bitcoin to drop slightly at the 6600 or 6200 level. We were wrong as Bitcoin didn’t even come close to this (lowest price was 6754). Fortunately for the Bitcoin holders, the price seems to remain higher. Bitcoin managed to raise 1500 dollar (21.72%) in just one week. We broke the last Higher High at a price of 7469, and pushed through the 8k resistance. In our post of April 16, we already mentioned the hash ribbon capitalization signal. On April 25, this signal turned into a buy signal and from that moment on, the price seems to continue to rise. The disappointing thing is that the volume is still lower than we would expect in an “breakout”. This could argue that this outbreak could be some kind of “fakeout”.But so far, Bitcoin’s price has remained stable and continues to rise. We can say that it seems that Bitcoin has finally broken its downward trend and seems to be starting a new Bull Run. With only 12 days to go before the Bitcoin reward cut, Bitcoin’s price doesn’t seem to be showing any signs of weakening anymore. Bitcoin could even rise above the 20 Weekly Moving Average (currently priced at 7878), and even pushed above the 200 Daily moving Average (currently priced at 7974). The 200 daily moving average is used to indicate when something is in a bull or bear market. And as long as we can stay above this moving average, we may find ourselves in a bull market again. If we check history, Bitcoin will not retest the 200 daily moving average for a few months after the breakout. If we see Bitcoin retesting this after a few days or weeks, it could be a sign that this was just a fakeout, and Bitcoin may again see lower prices again. But for now everything seems positive for Bitcoin, and we might see 10K sooner than later..! The next two weeks will be exciting for Bitcoin as more and more fomo will come in the coming days. All we need to be careful about is what will happen after the Bitcoin reward cut. We don’t know what traders will do and the price may drop after that date. A short overview: We are above the 20 Daily Moving Average (currently at 7226) We are above the 20 Weekly Moving Average (currently at 7878) We are above the 200 Daily Moving Average (currently at 7974) Bitcoin block reward will cut in half in 12 days Buy signal from the Hash RIbbon Support levels at: 7800 Resistance zones at 8400 Thank you for reading and let me know what you think about the upcomming halving!
BITSTAMP:BTCUSD
by CryptoUpdateCom
2
Bitcoin | Short term reversal or the last fake-out?In the last few weeks Bitcoin was able to form a series of Higher Highs (HH) and Higher Lows (HL). The latest Higher High was at the price of 7469. As discussed in our last analysis, we expected that Bitcoin would form a Higher Low at a price of 6600. After forming that Higher Low, Bitcoin was able to push back up again, but was rejected at the price of 7250. For now it seems that we lost our momentum and Bitcoin is not able to form a Higher High again. That said, the Bitcoin block reward cut is coming really close right now. With only 21 days left, the pressure on the price of Bitcoin will go up. We expect that the price of Bitcoin will surge to the upside in the last week before the Bitcoin block reward cut. At that moment the FOMO will kick in, and we can easily see Bitcoin going to 9 or even 10K..! As far as we can see now, Bitcoin have a few support levels were we can bounce off at; We have the first level of support just above 6600. If Bitcoin is able to hold that one, we might be able to form a Higher Low over there, which means that the series of Higher Highs and Higher Lows is still intact. The chance of doing this is unfortunately not that big, so we expect that we will fall back a little bit lower to the next level of support at 6200. The last level of support would be at 5800. This could be a nice level to buy back in. If none of these levels will hold, Bitcoin will be in sirious trouble and will fall back to a minimum of 5K and maybe even lower. So far we don't expect anytime soon that Bitcoin will fall below these levels. If we check Bitcoin on the Weekly Time Frame, we can clearly see that Bitcoin is losing its momentum and is forming a reversal. You can see that Bitcoin is forming Lower Highs. Something that is interesting to mention is that instead of Bitcoin, Ethereum is still holding its series of Higher Highs and Higher Lows. Ethereum is looking much stronger at the moment than Bitcoin does. As we already expected earlier this year, we still think that Ethereum will outperform Bitcoin this year. For now we have to wait for both markets to see what it will do. A short overview: We are below the 20 Daily Moving Average (currently at 6983) Bitcoin block reward will cut in half in 21 days Support levels at: 6600, 6200 and 5800 Resistance zones at 7200 and 7400 Thank you for reading and let me know what your opinion is about the current Bitcoin and Ethereum price!
BITSTAMP:BTCUSD
by CryptoUpdateCom
2