Over the last weeks I've been relatively bearish on Bitcoin. My main point was that BTC is trading in a parallel channel, where the top resistance is a copy of the bottom support.
My bearish narrative originated somewhere in August, and has not changed since.
However, I have to admit that BTC is holding up better than expected, also carried by bullish ETF news (fake or not).
Until we can get a weekly close above the top resistance, long-term bears are winning. This supports my often mentioned fact that pre-halving years have on average 6 green and 6 red months, so we're likely going to see more red months ahead.
Are you bullish or bearish? Share your outlook! 🙏
My bearish narrative originated somewhere in August, and has not changed since.
However, I have to admit that BTC is holding up better than expected, also carried by bullish ETF news (fake or not).
Until we can get a weekly close above the top resistance, long-term bears are winning. This supports my often mentioned fact that pre-halving years have on average 6 green and 6 red months, so we're likely going to see more red months ahead.
Are you bullish or bearish? Share your outlook! 🙏
Bitcoin has been trending up with time. Generally, Bitcoin has been following an increasing logarithmic path, as seen on the chart. I tried to build an indicator that can give traders an edge in discovering long-term trading opportunities.
The top red band has been calculated by plot the cycle tops against time, the bottom green band has been calculated by plotting cycle bottoms against time.
The yellow area is calculated as a function of the red period, which has historically proven to offer strong support/resistance.
Historically, buying in the green area has proen to be very profitable in the long-tern, especially if you managed to sell in the red areas.
Furthermore, this indicator can very clearly predict top- and bottom ranges, as well as the time it could happen. For example, if the BTC cycle top would be today, this model predicts that BTC will top somewhere between 102k - 147k.
You can find the indicator here:
The top red band has been calculated by plot the cycle tops against time, the bottom green band has been calculated by plotting cycle bottoms against time.
The yellow area is calculated as a function of the red period, which has historically proven to offer strong support/resistance.
Historically, buying in the green area has proen to be very profitable in the long-tern, especially if you managed to sell in the red areas.
Furthermore, this indicator can very clearly predict top- and bottom ranges, as well as the time it could happen. For example, if the BTC cycle top would be today, this model predicts that BTC will top somewhere between 102k - 147k.
You can find the indicator here:
Another month has passed since the last Altcoin Fiesta, excited to do a new one!
My short-term view on the markets:
In nearly all my Bitcoin posts recently I've stated that I was bearish until we can get a bullish weekly close above the top purple resistance. Seeing today's price action, we're likely going to close the week above said resistance.
Near term looks bullish. Main resistance is the July high of 31.800, a move above there can easily take us to 35k or higher.
Alts have been bleeding hard. With BTC going up, there's ample short-term opportunity to find in the altcoin market.
🎉CRYPTO FIESTA🎉
Comment your favorite crypto below and I'll do my best to make an easy to understand technical analysis on it. Will be making these analyses all weekend!
Give this analysis a like if you enjoy the content🙏
My short-term view on the markets:
In nearly all my Bitcoin posts recently I've stated that I was bearish until we can get a bullish weekly close above the top purple resistance. Seeing today's price action, we're likely going to close the week above said resistance.
Near term looks bullish. Main resistance is the July high of 31.800, a move above there can easily take us to 35k or higher.
Alts have been bleeding hard. With BTC going up, there's ample short-term opportunity to find in the altcoin market.
🎉CRYPTO FIESTA🎉
Comment your favorite crypto below and I'll do my best to make an easy to understand technical analysis on it. Will be making these analyses all weekend!
Give this analysis a like if you enjoy the content🙏
Another month has passed since the last Altcoin Fiesta, excited to do a new one!
My short-term view on the markets:
In nearly all my Bitcoin posts recently I've stated that I was bearish until we can get a bullish weekly close above the top purple resistance. Seeing today's price action, we're likely going to close the week above said resistance.
Near term looks bullish. Main resistance is the July high of 31.800, a move above there can easily take us to 35k or higher.
Alts have been bleeding hard. With BTC going up, there's ample short-term opportunity to find in the altcoin market.
🎉CRYPTO FIESTA🎉
Comment your favorite crypto below and I'll do my best to make an easy to understand technical analysis on it. Will be making these analyses all weekend!
Give this analysis a like if you enjoy the content🙏
My short-term view on the markets:
In nearly all my Bitcoin posts recently I've stated that I was bearish until we can get a bullish weekly close above the top purple resistance. Seeing today's price action, we're likely going to close the week above said resistance.
Near term looks bullish. Main resistance is the July high of 31.800, a move above there can easily take us to 35k or higher.
Alts have been bleeding hard. With BTC going up, there's ample short-term opportunity to find in the altcoin market.
🎉CRYPTO FIESTA🎉
Comment your favorite crypto below and I'll do my best to make an easy to understand technical analysis on it. Will be making these analyses all weekend!
Give this analysis a like if you enjoy the content🙏
In my most recent FTM analysis I looked at a long-term head & shoulders pattern. My initial analysis stated that I was waiting for confirmation of the break out with an entry of 0.16. The entry has never been reached, so no entry has been made.
FTM saw a significant bounce over the last few days, bouncing over 35% from the lows. Seeing that the bear market support held, I'm now looking for more potential upside, naturally helped by a bullish Bitcoin.
Target at the 2023 highs, stop below the most recent local low. I'm expecting a minor retracement in the coming days, will make an entry there.
FTM saw a significant bounce over the last few days, bouncing over 35% from the lows. Seeing that the bear market support held, I'm now looking for more potential upside, naturally helped by a bullish Bitcoin.
Target at the 2023 highs, stop below the most recent local low. I'm expecting a minor retracement in the coming days, will make an entry there.
After being bearish over the last two months, I've switched my bias to neutrally bullish. The main idea behind my bearish bias was the fact that BTC reversed from the top resistance of the parallel channel. That, combined with pre-halving years being 50/50 green and red, made me think there was more in it for the bears.
However, I always wrote that a bullish break out through the top resistance would be an indication of strength, hence the switch to a more bullish outlook.
For now, the 2023 top of 31.800 is the target to beat (yellow). A push through there could result in a new prolonged bullish trend towards the 40k area or even higher.
Things are looking much better than last month. Time will tell.
However, I always wrote that a bullish break out through the top resistance would be an indication of strength, hence the switch to a more bullish outlook.
For now, the 2023 top of 31.800 is the target to beat (yellow). A push through there could result in a new prolonged bullish trend towards the 40k area or even higher.
Things are looking much better than last month. Time will tell.
After an initial strong start of 2023, MATIC has generally been selling off all year. Helped by Bitcoin's strength, MATIC has managed to break through the main bearish resistance that was holding back this token.
In my eyes, this can be the start of a new bullish trend for altcoins. Looking at 1.5$ target over the next few months.
In my eyes, this can be the start of a new bullish trend for altcoins. Looking at 1.5$ target over the next few months.
APE has been one of the weakest big tokens of this year, falling over 60% from the January 1st value.
However, there's some light at the end of this dark tunnel. A falling wedge pattern has emerged on the weekly chart, as well as the fact that the weekly RSI has hit oversold levels for the first time in the (Binance) history of this token.
This trade is risky, because the break out has not yet been confirmed. However, I think it's worth the risk because this token has been losing all year and is due to a bounce. A more defensive strategy would be to wait for a break out of the falling wedge.
However, there's some light at the end of this dark tunnel. A falling wedge pattern has emerged on the weekly chart, as well as the fact that the weekly RSI has hit oversold levels for the first time in the (Binance) history of this token.
This trade is risky, because the break out has not yet been confirmed. However, I think it's worth the risk because this token has been losing all year and is due to a bounce. A more defensive strategy would be to wait for a break out of the falling wedge.
In my most recent BTC analysis I talked about the fact that BTC managed to break out through the main bear market resistance, which made me switch bullish with a target of 40.000, which has played out well!
For the time being, BTC has a bit of trouble getting through the top resistance of the rising wedge pattern. Personally, I'm anticipating a break out soon, seeing the amount of new buyers entering the market.
On the other hand, we can still fall back towards the support of the pattern. Not very likely, but surely a possibility. In that case, buying from the bottom support would be a great entry point.
Till then, 40k is the target.
For the time being, BTC has a bit of trouble getting through the top resistance of the rising wedge pattern. Personally, I'm anticipating a break out soon, seeing the amount of new buyers entering the market.
On the other hand, we can still fall back towards the support of the pattern. Not very likely, but surely a possibility. In that case, buying from the bottom support would be a great entry point.
Till then, 40k is the target.
In my last PEPE analysis I was looking at this falling wedge pattern and patiently waiting for the break out.
Now that BTC has broken bullish, PEPE has followed suit. With PEPE breaking through the 85 resistance (omitting the zero's for clarity), it seems that the breaks are off this token.
Apart from the meme potential, this token has been shorted very badly over the last months, making way for a potential short-squeeze.
I doubt that we're going back towards the 300-350 area in the near future, but it's certainly a possibility for the next few months, assuming that BTC will not dump on us.
For now, the entry has been hit and we're enjoying the ride.
Now that BTC has broken bullish, PEPE has followed suit. With PEPE breaking through the 85 resistance (omitting the zero's for clarity), it seems that the breaks are off this token.
Apart from the meme potential, this token has been shorted very badly over the last months, making way for a potential short-squeeze.
I doubt that we're going back towards the 300-350 area in the near future, but it's certainly a possibility for the next few months, assuming that BTC will not dump on us.
For now, the entry has been hit and we're enjoying the ride.
DOGE has generally been trading bearish ever since the May 2021 top of about 0.70$.
As seen on the chart, the price has been bouncing off a stron diagonal resistance and horizontal support area, making a (bearish) triangle pattern.
With Bitcoin's help, DOGE managed to break out through the top resistance with force. I'm considering this the most bullish price action in around a year, which could be the start of a longer-term trend shift.
For now, 0.20$ is my target, stop under the recent local lows.
As seen on the chart, the price has been bouncing off a stron diagonal resistance and horizontal support area, making a (bearish) triangle pattern.
With Bitcoin's help, DOGE managed to break out through the top resistance with force. I'm considering this the most bullish price action in around a year, which could be the start of a longer-term trend shift.
For now, 0.20$ is my target, stop under the recent local lows.
In this analysis I want to take a look at a very simple, but important chart. We're going to compare previous bull- and bear markets and look at the years after the bear market.
The result is simple, Bitcoin has always recovered and always pumped again after every bear market. In many previous analyses I've noted that 15.500 was the bear market low, so this analysis will most likely hold up.
The future looks bright!
The result is simple, Bitcoin has always recovered and always pumped again after every bear market. In many previous analyses I've noted that 15.500 was the bear market low, so this analysis will most likely hold up.
The future looks bright!
In my most recent ETH analysis I took a look at the long-term rising wedge pattern that has been playing out on the ETH chart since early 2017.
I noted that the break out occurred, and could potentially lead to more selling. However, now that I switched to a bullish view of the market (because of the BTC break out), I think it's likely that ETH will go up as well.
However, bears are closely watching this resistance (previous support). If the ETH bears want to push through, now is the time. Once we're above this resistance, we're likely back in full bullish territory.
Bitcoin needs to push through in order for ETH to go up as well. Watch this resistance closely, since I'm expecting a break out rather soon.
I noted that the break out occurred, and could potentially lead to more selling. However, now that I switched to a bullish view of the market (because of the BTC break out), I think it's likely that ETH will go up as well.
However, bears are closely watching this resistance (previous support). If the ETH bears want to push through, now is the time. Once we're above this resistance, we're likely back in full bullish territory.
Bitcoin needs to push through in order for ETH to go up as well. Watch this resistance closely, since I'm expecting a break out rather soon.
LUNC has been massively shorted over the last year, and with good reason, since the token is practically dead.
However, this amount of shorting poses a risk for the bears. If we get more bullish price action in the near future, the amount of shorts being squeezed (liquidated) could result in a huge bullish move upwards. For now it's just speculation, but it's certainly a possibility.
At the moment, I'm looking at the 1-year falling wedge pattern that has just broken bullish. This is the best case for the bulls in at least a year, very interested where this break out will bring us!
However, this amount of shorting poses a risk for the bears. If we get more bullish price action in the near future, the amount of shorts being squeezed (liquidated) could result in a huge bullish move upwards. For now it's just speculation, but it's certainly a possibility.
At the moment, I'm looking at the 1-year falling wedge pattern that has just broken bullish. This is the best case for the bulls in at least a year, very interested where this break out will bring us!
Great news for GRT holders; the token has finally broken through a bearish resistance line that has been keeping the price in check since early 2021.
In my view, this can be the break out that bulls have been waiting for, making the 0.06$ area the definitive lows of the bear market.
Target placed at the November 2021 top.
In my view, this can be the break out that bulls have been waiting for, making the 0.06$ area the definitive lows of the bear market.
Target placed at the November 2021 top.
SOL has been one of the bigger winners of the last few weeks, seeing a 100% increase since the September lows.
However, caution is advised for the bulls. SOL has reached a very important area of resistance, so some profit taking is to be expected here.
However, with BTC looking great, I'd be surprised if SOL won't break through this resistance area. Personally, I'm going to wait for a break out and retest of the resistance before making an entry.
However, caution is advised for the bulls. SOL has reached a very important area of resistance, so some profit taking is to be expected here.
However, with BTC looking great, I'd be surprised if SOL won't break through this resistance area. Personally, I'm going to wait for a break out and retest of the resistance before making an entry.
In this analysis I want to shed some light on the fact that the weekly RSI on Bitcoin has reached the highest value in over 2.5 years. The last time that we weekly RSI reached above 70 was during the height of the bull-market, back in April 2021.
Historically, Bitcoin's weekly RSI has very often been above 70, just scroll back the chart. However, the timing is interesting. Although the price is going up and people are feeling bullish, this is not a bull market (yet). So, a patient bear might want to step in during a period of heavy buying to bet on a potential downturn.
I'm still bullish, but I also have to admit that there's a risk of Bitcoin correcting in the near future. Stocks are selling off, the price has hit resistance, weekly RSI above 70. The perfect conditions for a bear, one would think.
Where do you see the price going in the next few weeks? Correction, or a move towards 40k? Interested to hear your thoughts 🙏
Historically, Bitcoin's weekly RSI has very often been above 70, just scroll back the chart. However, the timing is interesting. Although the price is going up and people are feeling bullish, this is not a bull market (yet). So, a patient bear might want to step in during a period of heavy buying to bet on a potential downturn.
I'm still bullish, but I also have to admit that there's a risk of Bitcoin correcting in the near future. Stocks are selling off, the price has hit resistance, weekly RSI above 70. The perfect conditions for a bear, one would think.
Where do you see the price going in the next few weeks? Correction, or a move towards 40k? Interested to hear your thoughts 🙏
SOL has been one of the bigger winners of the last few weeks, seeing a 100% increase since the September lows.
However, caution is advised for the bulls. SOL has reached a very important area of resistance, so some profit taking is to be expected here.
However, with BTC looking great, I'd be surprised if SOL won't break through this resistance area. Personally, I'm going to wait for a break out and retest of the resistance before making an entry.
However, caution is advised for the bulls. SOL has reached a very important area of resistance, so some profit taking is to be expected here.
However, with BTC looking great, I'd be surprised if SOL won't break through this resistance area. Personally, I'm going to wait for a break out and retest of the resistance before making an entry.
PEPE has been consolidating for nearly a week at this point, after a huge >120% move upwards.
In my eyes, PEPE is underway of making a bull-flag pattern. Since bull-flags classically break bullish, this is what we're waiting for.
I'm waiting for a 4H close above the previous local top of 124, with a 200 target. If BTC manages to break out on bullish FED news tonight, PEPE can fly as well.
Exciting times for altcoins.
In my eyes, PEPE is underway of making a bull-flag pattern. Since bull-flags classically break bullish, this is what we're waiting for.
I'm waiting for a 4H close above the previous local top of 124, with a 200 target. If BTC manages to break out on bullish FED news tonight, PEPE can fly as well.
Exciting times for altcoins.
Bitcoin is currently in the process of breaking out of a bullish flag pattern that has been in the works ever since we hit 35k last week.
If we can get a 4H candle close above 35,250 I'm considering it a successful break out, with a likely continuation of the bull trend.
40k is my target for now, as per my initial bullish break out analysis several days ago.
Keep in mind that we have a FED meeting tonight. The market expects the rates to remain the same, so unless the FED will surprise the market it should be business as usual?
Nevertheless, things are looking better for the bulls!
If we can get a 4H candle close above 35,250 I'm considering it a successful break out, with a likely continuation of the bull trend.
40k is my target for now, as per my initial bullish break out analysis several days ago.
Keep in mind that we have a FED meeting tonight. The market expects the rates to remain the same, so unless the FED will surprise the market it should be business as usual?
Nevertheless, things are looking better for the bulls!
Bitcoin is currently in the process of breaking out of a bullish flag pattern that has been in the works ever since we hit 35k last week.
If we can get a 4H candle close above 35,250 I'm considering it a successful break out, with a likely continuation of the bull trend.
40k is my target for now, as per my initial bullish break out analysis several days ago.
Keep in mind that we have a FED meeting tonight. The market expects the rates to remain the same, so unless the FED will surprise the market it should be business as usual?
Nevertheless, things are looking better for the bulls!
If we can get a 4H candle close above 35,250 I'm considering it a successful break out, with a likely continuation of the bull trend.
40k is my target for now, as per my initial bullish break out analysis several days ago.
Keep in mind that we have a FED meeting tonight. The market expects the rates to remain the same, so unless the FED will surprise the market it should be business as usual?
Nevertheless, things are looking better for the bulls!