The CPI numbers will be released in about 30 minutes. What is so interesting is we are literally at the most crucial point in the trend right before these numbers come out! On our most recent dump we have found support again at our bear market low on CME ($18,500). This of course means one of two things. 1. The numbers are better than expected and we get yet...
Will not let me publish lower time frame than 15 min, but on the smaller time frames it does look like we are forming a smaller bull flag and holding support. Also with the bullish Google crypto news we could see some kind of relief. The measured move is around $19,460. Good scalp with tight RR.
Will post a lot of updates this week as the market is about to have its most volatile week in a long time. Main volatility should take place between Wed-Fri with CPI on Thursday being the main event.
Here we can see BTC is in a bear flag, but in the short term we are at our support of the bear flag. After failing to breakout, BTC has fallen back to support. This is only a scalp long for me. If we break our support trend line we could see some crazy downwards movement but in the short term we are fine.
Here on the 1H we can see a great long setup being establish. We have double bottomed on 1H oversold (RSI). We have held our candles at the last low (Green line). Eth is holding our trendline of old resistance and trying to flip it into new support. I am still bearish on the macro, but on the micro this could be a great scalp long.
We have also created a bear flag for ETH, currently we are sitting above our resistance, but it looks like it just wants to turn into a wick. Watch this pattern for a 4H close above or below and also the daily.
Hey guys please note we have note broken out yet. If we break above the highs then my narrative will flip, but for the time being we are at the top of our bear flag and also at 4H overbought. The way this could flip bullish is if we get a 4H and 1D close above.
According to our previous post, we pointed out wither a bull flag or strong rejection at our retest. We got a large pump above our resistance and a 4H close above our bull flag. Therefore, if you are looking to chance a long in case we get the near 80% move to the upside. I would look for your first support zone around 31 (0.618/65) or a retest of our 0.786...
Of course there is tons of economic uncertainty and this bear market is truly different, but based on the facts in the charts we can learn some key information. Based on our 4 year cycle theories this leads us to believe things will not be different as we are following our patterns perfectly. Black arrow - This date range shows us that between 365-400 days our...
Before the analysis please understand LUNC is a very speculative play and highly risky as it has now become a "meme" coin. Be careful trading assets such as this. On the left side we see the bullish case scenario. It seems like we are forming a bull flag and the measured move would be a 78% pump upon breakout!!! On the right side we see a bearish scenario where...
Just wanted to outline these other key trendlines for BTC on the 30min. Right now we are still holding our bottom as support, but if we do break below see if this trendline flips into new resistance for a push lower. If not, then we could revisit the top trendline.
After creating a top around $20,200 and consolidating between the $19.6-19.8k levels, we have formed a small bear flag. Upon the sell imbalances in the stock market at the end of the day it has caused BTC to breakdown from the flag. This gives us a measured move around $19.1k.
We are currently testing the support of our rising wedge channel. If this holds we could get another move back to the top between $1360-1380. If we break the support, our measured move breakdown would be the start of the wedge around $1270-1280.
Again, the markets still look very bearish to me as every rip has been sold off. I still think ETH will go down to at least the $1080 level, but in the short term this could be a good scalp playing the 2H doji.
Every time we cross a ring we usually have a very volatile move occur after. Each move has been at least 30% since crossing the ring. Recently, we just crossed another ring when should lead to a volatile move very soon. This next week we have 3 major USD Events happening that could easily move the price of crypto.
We have our weekly close in about 5 minutes. We still have not closed at least a daily below $18,500, but it looks like the weekly will close its first weekly candle body below $19,300. This will be the lowest weekly close since Dec 2020! Therefore this symmetrical triangle seems valid. Many touches of support/resistance. Recently we broke down, but we could have...
The measured move of this breakdown would be around $1140 although I think we will break lower than that. The other reason I think we will breakdown as well is because we created a doji reversal candle on the daily.
We have broken down yet again from the $19,500 level. We still have yet to close a daily below the $18,500 level on CME. Therefore, I might chance a long near the bottom of our channel around $18,400 with a tight stop loss below the lastlow. I still think in the longer term we will break these lows but until we do it is our support.