Benayman

Benayman

just my 2 cents on BTC price discovery target zones, if makro is favorable

Benayman Updated 

Just comparing a bit with 2014. Highlighted yellow circle area is open to interpretation depending on whether which dark blue trendlines full or dashed is more likely to resemble 2014 white line. Based on that, the target area of a 2014-like drop be the light blue rectangle.

Benayman

Let's see if this formation breaks to the up- or downside. I am currently more pessimistic than optimistic, because when considering market environment, we would need some good news (--> DXY down and BTC up), for this to break to the upside. Lower rate hikes, lower inflation values, ... would be the signals to watch out for. Nevertheless, we had a strong...

Benayman

Crypto Market seems to be on the verge of the possibility for another 50% drop. Dashed RSI-Line needs to hold & we need a convincing move back above 1T market cap to avoid.

Benayman

We're in a bear flag right now, possible target ~2,7% (down from 7,95% high on April 2nd) - Benayman

Benayman

Defin about to drop hard? Keep an eye on RSI- and Channel-support! - Benayman

Benayman

Hi everyone, this will show you my take on what is happening on the ETH daily. - Mid July we managed to get back above the EMA50 and are just retesting it. Might not look like it with candles, but is nicely visible, when set to line chart. - Merge is happening very soon. Yes we just dipped a bit for the EMA50 retest, but I think ETH will be drawn towards EMA200...

Benayman

So... I initially identified the 2 target zones (ovals with flags) at the edge of what I believe is the current shape BTC is contained in (dashed whites). The whole time I only had a channel drawn from the bottom of the current movement to what now is the middle of the channel. After having added the triangle, I extended the channel to what's shown now. And then...

Benayman

Breakout is in progress as per my last idea. Lets talk about targets. A) breakout invalidated by staying below purple line B) initial target = orange channel top @ ~48% C) if breakout from channel, next resistances are i) ~52.7% ii) ~57.2% iii)~60%

Benayman

Last 4h ETH chart worked out fine. Had my first targets around 1370-ish. Second one around 1285, which wasn't reached. Still confident we'll go in that direction. 15min supports this view. Bottoming out current formation around 1285 still is likely.

Benayman

Good chance ETHBTC may go down a bit. - ETH currently going down, and might wiggle around a bit there. - BTC has good possibility to go up from current lower end of its channel. - BTC.D looking to breakout from falling wedge. - Benayman

Benayman

Hi everyone, BTC.D looks like it will break out from the downward wedge it is forming, testing upper channel end again or even break through. ETHBTC at the same time looks, like it will go down, since its at the top of its current channel. Sounds plausible. -Benayman

Benayman

Hi everyone, we are still trading inside the larger bear flag / channel for now. If bottom trendline of this holds, we can see upside towards red zone resistance area, maybe a spike to 0.618 fib. Expecting BTC to get rejected from there. If bottom trendline does not hold (because of bad new: rate hikes communication in the US is due) we can move towards target...

Benayman

Hi everyone, based on previous movement on the daily chart, I think you can recognize a channel, SOL might continue to trade in. Points of Interest are market with (!). It will likely be determined End of July / beginning of August, where we are heading. Sadly, we cannot be sure, that we will not touch the last line of defence (purple) again, but overall the...

Benayman

Some playing around with the chart. Trying to figure out where we heading next, expecting double top to play a role, as well as newly found resistance after big breakout mid july from the 1 month-long sideways channel. We did not really retest the latter in a sufficient scale, yet, in my opinion. Chances are we will.

Benayman

Just an idea on how we went above a channel and now below the upside, retested it, and now have a propability of going lower to the middle of the channel.