FallingWedge

FallingWedge

So far, everything is in line with the fractal I shared earlier, and this was the bottom. The first stop was around the 50MA on 2D, and the next target, before a major correction, was the 0.618 level. If that's the case, we could test 88-90k by the end of April and then move towards 96k. If the price fails to break through the 50MA relatively easily, as it did...

FallingWedge Updated 

I think we're following the fractal of 2021 bull market, and I was looking for similarities between the consolidation phase that came after the sharp decline. And in fact, there are some similarities. The first test of the 200MA on the 2D chart and the build-up of a bullish divergence with a fakeout below the trend line on the RSI. It's not exactly the same, but...

FallingWedge Updated 

This is another TA on why it's a good place to be buying altcoins this summer. Based on the chart, we can observe a huge falling wedge that was broken in July. The price has been above the trendline for several weeks, indicating a clean breakout. Furthermore, there seems to be a formation of an inverse head and shoulders pattern. Currently, we are completing the...

FallingWedge

This might be the most important TA I did for this year. I firmly believe that altcoins have been consistently undervalued in comparison to BINANCE:BTCUSDT and $BINANCE:ETHUSDT. As evidenced by the recent data from early June, altcoin dominance plummeted to ~8%, finding support at the bottom of a falling wedge pattern. At that time, I identified it as an...

FallingWedge

Few days earlier I posted my bearish view on BTC. But bulls still have a chance to get above 100k this year. Price is still moving inside this meme channel, and recently we got a test of the lower channel line. All these "sideways" between 30-60k could be the 4th wave. Depends on how you count it, end of wave 3 either can be in April 2021 at 65k or in November...

FallingWedge

I love to draw main channel first, to determine the main trend. We all know BTC had a crazy multiyear rally with huge -80-90% corrections. But still it keeps going up and makes new ATHs after correction was over. And we are having another correction on the way to the next significant number - $100000 per 1 BTC. Most of the time, as we can see, price has stayed...

FallingWedge Updated 

This is another renko charts. This time it's btc.d (dominance of btc) with 0.5% block size on the 1d. We can observe something similar to a falling wedge pattern with clear bullish divergence on RSI. Since start of 2022 we saw a decent correction in btc pairs but still a lot altcoins looks alive. ETH/BTC pair for exemlpe. For now the dominance is slowly rising...

FallingWedge Updated 

Ups and downs could be pretty huge and dramatic, but if we look at them from the bigger perspective, they aren't that important. BTC has been slowly moving down thru these MA lines just by going sideways. And as we can see good buy zone was always between 1st and 2nd line (for the long term of course). The best buy zone would be below the 1st line. Will we get...

FallingWedge Updated 

Although I view crypto market as a bear, I am not saying it can't have one more bounce. And if we take a look at the 2nd biggest coin ETH we can clearly see that price is still moving inside this big channel. This is renko 1d chart with a block size 1% of max price - 48$. There was 2 attempts this year to break this channel, but every time price has bounced of it....

FallingWedge Updated 

Price did a nice bounce yesterday and currently is testing the channel. If btc can break 40k and get into this channel back, this scenario will likely be cancled. For now it's still a downtrend with bearish break out.

FallingWedge

Btc continues to decline and some people seems to forgot what the defenition of bear market is. How to know if this is a bear market? 50MA goes below 200MA and price is below 200MA. Simple rules right? Usually it works for 1D charts. And what about 3D charts? Bigger timeframe = less false signals. And we about to have our 3rd death cross somewhere in the middle...

FallingWedge Updated 

My first post here and it's bearish lol BTC had a monthly close below 20MA. Is this important? I think yes. 2 times it signaled more selloff, and 2020 march crash was an exception because it all happened in one candle. In my opinion it's time to get ready for cheaper prices. Do you think it's important?

FallingWedge

This is daily renko chart with 1% block size. Renko cuts out all the noise and shows things from different perspective. And it looks like btc has formed a bear flag and we just had a break out to the downside. No price targets yet, but let's see how deep it can go. Do you think this is a bear flag?