I am starting to believe that 11k final bottom might never happen. Is that just FOMO? Maybe we wig down there in a flash crash only to start off a new rally, but who knows. I simply want to express how impressed I am with the strong support at 20k. On the other hand, we might stay on these levels for months and it needs just one hysteria causing news to drag us...
I'll re-publish this from time to time. Let's see how often I have to redraw the 's-curve', which I believe bitcoin is dipping along. The trend lines are based on fibonacci numbers. The s-curve is the most apparent pattern to me whereas the tops function more as noise driven by halving cycles and the current economic environment. According to my assumption, 10...
After a sensational run we finally might see a 30% correction for BTC in the 13.800 to 14.500 € area. This would correlate with a touch on the weekly 21 EMA which usually happens in BTC bull runs.
Since we closed above the 2019 highs, it is very unlikely that we fall back below that levels again, at least not in the immediate short term. It seems obvious that we move higher. But it would be equally unlikely that we wouldn't re-test those levels in the near future. The question is now, from where we might retrace. The RSI is still looking good and leaves...
Oh retracement, where art thou? You missed 3,600? 7,600? 9.200? etc.? The chances for a reasonable entry point are fading away, or are they? No testing of any important averages since a while now, which makes a sharp correction more than overdue. But how low are we going to fall? Remember: if they go high, we go low (Or something...) ...
Compare these three trend lines, which climbed steeper and steeper paths over the last couple of weeks. Meanwhile, the Stoch RSI remains on very low levels, indicating a larger move upwards ahead. Still, one can not hide the feeling, that a solid retracement is missing to turn the overall bullish positivity into a sustainable trend reversal.
A next move to higher highs can be expected. Resistance at around 7.800, but bulls stay vigilant. With the Stoch RSI moving towards oversold territory with price action staying close at the resistance, it seems to be more likely that the bulls will push the price upwards.
BTC's sharp reversal on todays price action indicates that trading still remains bullish on the daily activity. Next move to higher highs might bounce from the 21 EMA, like it did recently. Otherwise we will see a pattern breach in which bears are likely to take back the upper hand. Watch out for the lower period EMAs.
Cardano had already broke the pattern a while ago to form a possible new uptrend. But considering the general market conditions there is no reason to celebrate just yet. It seems that altcoins are depending just to much on bitcoins condition while being unable to make their own movements. Especially when it comes to trend reversals to the upside. Of course there...
Is the price of Bitcoin really rising and falling because of the SECs decision to reject several ETF proposals? Or were the markets following their own flow all along? We saw two rejection cycles in August, but the outcome for the price of Bitcoin was different in each case. I am more than happy about this, because there is only one outside pressure, which should...
Always an interesting development within a chart. To know something is going to happen soon is kinda exciting to follow. To me it feels like we'll have some outbreak soon. The markets seemed to be unimpressed towards the SECs recent denial of further ETF proposals. This only shows that markets are following their own rules and traders are building up some kind of...
Another hit for several Bitcoin ETF proposals, which might push BTC below 6.000 today. But who cares? I think that the down pressure on BTC looses on strength and I see a trend reversal on the horizon. BTC price is bottoming out in an elongated belly shape, and from this point onwards, we shall see prices climbing upwards steadily, pushing towards more and more...
But we should not trust it, since it only confirms the down trend. Still it has been a huge opportunity in this low markets. Actually, these are the chances one can take in a bearish cycle. Especially the ones who don't like the shorting gamble. But markets shall continue to fall, therefor I see Ontology coming down again, too. But strong support is close by and I...
Doesn't really matter what altcoins to look at, since most of them react similarly within this market. I am currently stuck with Cardano, so I stick with it. The recent recovery seems weak and anxious, so I don't really trust it. It simply lacks enough volume to trigger a solid reversal. Looking at the long term perspective of the markets we'll find a continuous...
Little update on my previous trend analysis on Cardano. I compared the channels on the daily vs. the weekly chart. On the daily, ADA shows some kind of a bullish trend, where as on the weekly, it looks more like continuation of the decline towards the next support level. I went on the Cardano forums and read a lot of its HODLers wishes to decouple ADA from...
Unlike some of the other projects facing a possible addition to coinbases elaborated club of digital assets, Cardano seems to be less effected by this fantastic news. Why is that? It comes as a surprise to me. Does that sound like an "Ethereum-killer"? I wonder if the market lost its faith with this project. The roadmap sounds slow and only good in theory. Will...
I seem to be still on track with my previous trend analysis on Ontology. Regardless of the recent market recovery, ONT was in an ongoing decline towards a major support line. I am very confident for Ontology to crack this down trend and manage to follow the general market sentiment. Not a bull market yet, but we are enjoying a little taste of it. Just a little.
Ever heard of Bitcoin Diamond? No. Join the club. Still, once in a while this coin shoots up like there's no tomorrow. No news, no announcements, no pump (I guess). What's the deal with this project? Is it simply that promising? Is the tech amazing? Or the team? Anyway, I see two major trends competing, and considering the current market situation, I will have a...
