FieryTrading Signals
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🔥 Ethereum Bearish Trend Reversal Confirmed: Re-test Of Lows

A couple of days ago I made an analysis on ETH and the inverse head & shoulders pattern that emerged on the chart. The trade has reached the first target flawlessly, but is currently seeing some bearish price action after failing to pull through the $1250 resistance area .

The bullish reversal trend is still intact, so there's no immediate worry for a new move towards $1000 or lower. On the chart I've indicated a yellow Reversal Area. If ETH reaches this area and reverses, the bull-trend is still intact and we can start the move towards >$1250 and possibly even $1500.

However, a move below the right shoulder would indicate that the trend has been broken. In that case, the most likely move would be for ETH to target $1000 or even $900, which would bring us to the head-area.
🔥 SOL Bear-Flag Break Out Looming

Ever since the bottom hit a couple of weeks ago, we've seen a slight uptrend in SOL and the remainder of crypto. The expectation was that this uptrend would end up being a bear-flag .

With today's price movement that expectation has most likely become reality. SOL is currently on the verge of breaking out on the bearish side of the bear flag . Be patient until the break out is confirmed.

In case of a bearish break out, I'm expecting a re-test of the recent low around $26 at least. Potentially we can move towards $20 or so if BTC drops below $17k.

The area below $20 is a long-term accumulation area for me. Potentially, it can function as a bear-market bottom, but that's still too early to say.
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Interesting chart to keep track off. Money supply growth (printing money) seems to be directly correlated to Bitcoin's price.
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Options Put/Call ratio is on the rise again. The last two times that this happened a big dump followed in the following week.
🔥 Bitcoin Worst Case Scenario: Despair Ahead

Be aware that, at this point in time, I do not think that BTC will follow this path. The only way how I can see this become reality is if we experience a complete stock market meltdown like we saw in 2001 and 2008. Nevertheless, I think this analysis adds valuable information to the discussion.

In my most recent BTC analyses I've been quite bearish in the short- and mid-term. In today's analysis I want to explore one of the most bearish scenario's I can imagine.

We can draw a line from the 2018 bear market low to the COVID-19 dump early in 2020. This trend line , dotted purple, would function as the "mean". The whole of 2021's bull-market could be described as a massive mania phase. 2022 is the blow off phase following the mania phase. I'm aware that the "Return to normal" peak on the left chart is lower than the "new paradigm", which is not true for BTC , since we had a new ATH in November. However, I think the overall idea of a market-cycle is more important than this detail.

If the price were to follow the pattern, we have much more pain ahead. BTC will most likely bottom between $6k and $10k.

Like previously mentioned, I do not think that we will go that low. However, I find it important to mentally prepare for a scenario like this. My most likely scenario at this point in time is that we follow the 2018 bear market fractal , until proven otherwise.
🔥 ATOM Higher Low: Bullish Trend Confirmed

Recently I made an analysis on ATOM and the fact that it was holding up very well during a strong bearish period for the rest of the market.

My first target has been reached for a nice 27% return, congratulations if you took the trade.

At the moment, ATOM is making its way to the most recent top at $8.75, which is the first target for this analysis. If BTC won't fall below $19k, I can very well see ATOM picking up speed in the near future, mid-term target around $10.
🔥 GALA At Capitulation Low: Potential Bounce Ahead

GALA is currently trading at a massive support. This support has been created during the LUNA-capitulation event almost two months ago, and has held strong ever since.

With BTC trading sideways and BTC dominance falling, I'd reckon that GALA will soon see a bullish move. Key is that BTC will not fall below $19k.

First target is the purple dynamic support, second target the blue dynamic support. With the market still being stressed I'd prefer to keep my targets close.
🔥 ONE Keeps Falling: No End In Sight

Around two months ago I made an analysis on ONE. In said analysis I wrote that ONE had much more pain ahead and was likely to make a move towards the $0.017 area.

Congratulations if you took the trade.

In my previous analysis I argued that $0.017 could potentially function as a bear-market low. Didn't expect we'd fall this fast, so I'm expecting ONE to fall even more. Realistically, we still have 1 - 1.5 years of bear market ahead, so more potential for downside.

0.01275 is our first target, short-term. $0.0075 is my long-term bear target. This area could potentially cause a big bounce, but we'll see by then.
Dear community, hope all is well.

Last week was quite an uneventful week. BTC has been trading between $19k - $21k, with some alts seeing big returns. Next week we have some big numbers coming up, like the non-farm payrolls, which is essentially data about the number of jobs created or lost.

BTC’s trend at the moment is bearish. I’m expecting a re-test of the $17.5k support area either this week or the next. Preferably this week so we can just get on with it. My bear-market bottom area lies between $10k-$15k, likely closer to $10k than to $15k. The sooner we get there, the sooner we can start preparing for the future.

Historically speaking, BTC has never been this oversold for such a long period. Once things cool off, I’m expecting a huge bounce. Until then, we’re bearish.

Premium channel’s results have not been great. Horizontal trading after a strong trend is generally a more difficult market. We hit some SL’s on the way down since we were long. At the moment, we’re dominantly trading short, in preparation for a further BTC fall. Results for the premium channel of this week: -15.5%. If BTC will indeed resume the bearish trend I’m expecting great returns in the week ahead.
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Detailed overview of week 26-22
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Last week I started posting my analysis-text in this Telegram group. Do you prefer reading my analysis in Tradingview or in Telegram?
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🔥 SAND V-Shaped Recovery After Huge Dump

A while ago I made an analysis on SAND where I argued that SAND was likely to see a period of bullish recovery after dumping for several months.

The bearish target was reached at $0.75, congratulations if you took the trade.

With my first target at $1.2 reached, we've confirmed a higher low and are on our way of making a new local high. If we can close the day above $1.2 I'd reckon we're going to continue the bullish trend and will soon see the $1.5 area reached.

What will happen after $1.5 will depend on Bitcoin . Ideally BTC will move back to >$22k so SAND can make a move to $2.
🔥 RLC Fibonacci Reversal: Will The Trend Continue?

RLC has been on a massive run last week. However, since topping around the $1.4 area RLC saw a 30% decline all the way back to $0.98

If we draw a Fibonacci retracement , we can clearly see that the 0.618 retracement is right on $0.98, so strong support was expected there.

If can see more bullish /neutral price action from BTC I think that RLC is going to form a lower high somewhere between $1.2 - $1.3 in the near future. A bearish BTC will make it more difficult, but still plausible.
🔥 XRP Bearish Channel: Bears Are Happy

XRP has yet to show some significant bullish price action ever since the LUNA collapse almost two months ago.

Since then, XRP has been trading inside a bearish channel . Naturally, the bears are very happy with this chart.

In my view, we're likely to re-test the bottom of the channel. I'm not looking for an entry before we either touch the bottom of the channel or if we break out of this bearish channel on the top side.

If BTC fails to hold the $18k-$19k area, it's most likely that XRP will continue to drop, potentially all the way to $0.25, which is in line with my bear-market accumulation area for XRP.
🔥 Bitcoin On A Crossroad: Triangle Break Out

A couple of days ago I made an analysis on BTC where I argued that we'd be on the verge of breaking bearish with $19k and $18k as my targets. $19k has been reached and held as support, congratulations if you took the trade.

Ever since the stock markets opened earlier today, Bitcoin has seen a huge bullish move. Where we were trading around $19k yesterday, we're almost trading 10% higher as we speak.

Since $19k held, we have now confirmed a higher-low and lower-high pattern, which forms a triangle on the chart. Classically, this pattern after a strong bearish trend would indicate that it is more likely for BTC to continue the bearish trend . However, since we're below historical oversold RSI's on the weekly timeframe I'm edging for a bullish break out of this move.
If we can get a 4H candle close above the yellow area, the bullish break out is confirmed and we can expect a bullish trend for a couple of days. Targets placed at recent highs.

On the other hand, it's still possible for BTC to bounce of the top resistance of the pattern. Watch carefully.