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!