DutchyFX

DutchyFX

As you'll all be aware, we unfortunately broke the 37k support yesterday and fell down to the 34.7k support where bears thankfully found some resistance. My bias is switching more to bearish for now as all the ground we made with the previous bullish breakout has been given back and once again the support of 36.8k/37k has now turned resistance, + the 200 EMA is...

DutchyFX Updated 

Entering a nice dense support area. 1. The old resistance of the larger descending channel now turned support. (Dashed line) 2.The 38.7k level. 3.The support of the lower trend of the ascending channel we are in. If we are going to reverse and carry on this bullish trend I'd say it's is likely to happen here, but if we break this level the next safety net is...

DutchyFX

I have just used the bars pattern tool on the price action from Jun 9th to Jun 13th. As you can see the price action we have seen this week is very similar, I think we could be seeing a repeat of this type of price action resulting in a pump of roughly +10% over the weekend. This is the last location of support via the 37.2k level. If we break this we will see...

DutchyFX

Bitcoin is holding up well against the 200 EMA so far and it's looking good. I wouldn't be surprised if bitcoin makes a push today to target the 42k level, A break of this level would hold a nice amount of psychological weight and give the bulls the needed morale to continue the run. I am just staying aware of the ascending nature we are climbing in at the...

DutchyFX

My current thoughts on Ada. I feel like the price is likely going to get the 1.16 level either late today or early tomorrow. I think we could then see some similar price action to what we saw on Sunday the 13th resulting in a healthy pullback of roughly -6%. The bulls will then likely regain some momentum and set up a run to target the 1.23 price range by the...

DutchyFX

Bullish divergence is clearly seen via the RSI on the weekly time frame. This can potentially hold a lot of weight, the higher the time frame the more weight the confluence holds. In regards to the daily chart and the 200 EMA, I think we are still on track to break out right now. We've had no clear rejections yet and the price is still holding up well against...

DutchyFX

I really like how solid the breakout of this descent was with the break candles also closing with a minimal wick. I think If Ada breaks above this 1.16 level with some clear momentum I feel the next resistance around 1.23 (+6%) will get hit very fast. I will then look for some sort of pullback from this area and would judge the current price action and area to...

DutchyFX

Here we go people, let's hope we break up above EMA as I think we are testing now. What happens in the next few hours will give us clear signs as to if the price is going higher to continue the bull run or if significant downside is around the corner resulting in a medium-term bear market across the board.

DutchyFX

I'm not concerned unless BTC breaks below 38.5k USD, then my short-term bias will start to shift from long to more bearish. We do have the 37.6k USD level for some support after but I don't see it holding much weight. If bitcoin can slowly work its way up out of this 40k/38.5k price bracket maybe today or tomorrow, I think we are looking pretty good. Then I...

DutchyFX

Best case = Bitcoin breaks above the 200 EMA today and finds support soon after. Second best case = Bitcoin holds between 40k USD and 38.5k USD. Worst case = Bitcoin attempts to break the 200 EMA but gets rejected, as I mentioned previously this will most likely set bitcoin up to hit the 30k USD price range this week. Whether we find support at this level...

DutchyFX

I think we are most likely going to see something similar to the inverse of the previous price action for the short term. I've marked the area I copied the price from and you can see it's quite similar. As we know history likes to repeat itself + we have the descending nature and the double bottom for some extra confluence. Also, we are getting a decrease in...

DutchyFX

I Would love to see Ada find the steam to continue this bullish push out of the channel we have been stuck in the past week or so. Fundamentally Cardano is doing absolutely amazing so I don't see why we can't make the move today + the rejection we got from the 0.98 - 0.96 zone was gorgeous so I think the bulls have the legs to make this push today or early...

DutchyFX

This is my rough analysis for AU next week. Completely RAW price action trading.

DutchyFX

Very important we break out of this descent as if we reject from here we are most likely going to see a harsh rejection, we do have the 35k USD level to support the uptrend but it doesn't hold much weight. A break of the 35k USD level could see bitcoin swiftly moving down to test the 30k USD level again so let's hope we smash out of this descending channel...

DutchyFX

A break of this trendline with Ada would hold a lot of psychological weight I think, especially if we can break with body and some clear momentum. We could see this +6.8% happen during the London and New York session or I think we are likely to see Asia pull through overnight making up the needed percentage so by late Sunday is a possibility for us to break out of...

DutchyFX

Bitcoin price could squeeze here for a second before potentially breaking out of this mini descent, then turning the upper trend of this channel into support giving the bulls a chance to target the 42k level early next week. If this level is rejected we are likely going to see a sub 30k USD bitcoin in the short term.

DutchyFX

Immediate BTC prediction. It would be nice to see this spinning top on the daily close in favour of the upside. Also on the lower time frames, you can take the current price action as almost an impulse and flag situation to move higher so my hope is still with bitcoin to pull this out of the bag, remember we also have the descending nature we've seen since the...

DutchyFX

Quick and super-simple breakdown of Cardano. (ADA) Price is falling very correctively here so I'm keeping an eye on how Ada reacts to the 0.98 to 0.94 level as I'm speculating this to be the prime spot for the coin to jump considering the fundamentals. (As long as BTC plays ball lol) If we do break below the 0.94 level I think the price is likely looking to...