mcakir73

mcakir73

The 15-minute chart shows us that there might still be some hope in the market. :) However in order not to be too much optimistic I point the candle which brought the market down. We can use it as a reference sometime later. The price action is trying to stay above the EMA(50) levels and trying to reach the EMA(200). As you can see even in this timeframe the...

mcakir73

The 1 Hourly chart of Bitcoin tells us that we are below the EMA(200), EMA(50), and the Point of Control. the price action struggles to go above the previous Higher-low which is printed on the 20th of September. (18,733) You can see the enormous bearish candle and its volume. The VRVP levels for this 1 Hourly chart can be seen below. Point of Control:...

mcakir73

If we zoom in on the 4 hourly charts we can see that we were able to record one GREEN candle in this timeframe. Looks like the second one is on the way. It is nice to see the VRVP levels worked at this timeframe. As it is true for yesterday's daily candle that 4 hourly has its record of being the most bearish candle of the time. (Bearish+Bullish) I think we can...

mcakir73

Turning back to the cryptocurrency world we can see the Daily chart below. Looking at the volume of the daily candle we can see the massive scale of the candle. This was the second largest volume candle in the history of bearish moves. The VRVP levels can be seen below. (Daily) Point of Control: 18,876 Value Area High: 42,213 Value Area Low: 17,600

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Excluding the market cap of BTC and ETH, we get the TOTAL3 value. As you can see this market cap is just at the January 2018 ATH levels. The current market cap is now around the 363 Billion USD level. As you can see from the bigger picture this is a journey back to 2018 January. The market lost approximately 4 years and 10 months. This is a huge mountain to climb.

mcakir73

If we exclude Bitcoin from the total cryptocurrency market cap we get the TOTAL2 parameter. The capitulation can easily be seen in this graph and I can tell you that it is even worse than the Total market cap because the market dumped even further on June 13th week. (482.5 Billion USD) Yesterday's dump brought us close to this low point and we are now at the 518...

mcakir73

The cryptocurrency market was hit badly. On the weekly scale, you can see that the TOTAL market cap has now declined to 877 Billion USD. However, we haven't hit the bottom since the 13th of June. The June low was almost the ATH of January 2018. As you can see from the volume of the weekly candles the biggest event was the China ban which was on May 2021.

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As you can see in this 15 Minute chart the price action is still below the Value Area Low in this timeframe. After printing a Lower-Low of 18,110 the price is struggling to survive. Below you can see the VRVP levels. Point of Control: 19,722 Value Area High: 20,172 Value Area Low: 18,750

mcakir73

Here is the 1 Hourly chart of Bitcoin. You can see the capitulation in more detail once you zoom into lower timeframes. Below are the VRVP levels on the 1 Hourly. Point of Control: 19,710 Value Area High: 22,234 Value Area Low: 18,717

mcakir73

Zooming into the 4 hourly charts of Bitcoin we can see that the local low of 18,110 was printed with some significant volume. Also, we are still below the "Value Area Low". You can see the VRVP levels on the 4 Hourly chars below. Point of Control: 19,837 Value Area High: 24,016 Value Area Low: 18,664

mcakir73

If we look at the Daily chart of Bitcoin we can see the downtrend. The critical point to watch is the Value Area low which is now at the 17,600 level. If breached we can see a lot more capitulation. We are now dumping to the 18,400 levels. You can see the VRVP levels on the Daily timeframe. Point of Control: 19,921 Value Area High: 42,392 Value Area Low: 17,600

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Turning into the weekly chart of Bitcoin we can see that we are now even below the SMA(250)

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You can see that the Total Cryptocurrency market has been dumping heavily from the start of Asia-Pacific. Now the total market cap is now at the 865 Billion USD levels.

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The DXY is Bullish before the FOMC meeting. On this Daily chart you can see that the DXY is above the EMA(10)

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As you can see from the 1 Hourly chart DXY just printed a new Higher-High.

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DXY is going up once again. You can view the 1 hourly chart.

mcakir73

The more you zoom into the chart the clearer it becomes to notice huge dumps. Now the 15-minute chart clearly shows us this type of dump which started in the Asia session. I added an FX session indicator to show you the type of price action belonging to each exchange. As you can see here in the chart the price action started dumping from the 20,164 levels down to...

mcakir73

The 1 hourly chart shows the type of market that we are in. First, the market pumped to the 20K levels. Right after the daily close, it started dumping like hell and reached below the Point of Control once again. The volume was significant and above the MA(30). At this moment the BTC is trying to close above the Point of Control. Below you can see the VRVP...