Crypto Banter Signals
IS THE BULL RUN OVER?
Strong recent economic data likely pushes the Fed to begin cutting interest rates in July or September, with possibly only 1 (at most 2) interest rate cuts in 2024. The worst-case scenario would be the first rate cut coming in December, yes, post-presidential Election.
This has changed the risk environment to less risk-on in the past few weeks, and this may continue for another 3-8 weeks.
However, this is almost a welcome surprise as it may help crypto remain in a consolidation range (prices-wise). As a result, it will reset many of the overbought on-chain metrics and trading indicators, which should help prolong the bull cycle that was seeming to become too frothy too quickly. This would also extend the peaking of the on-chain metrics, meaning they would likely produce price tops towards the end of 2024.
From June onwards, a potential tapering of QT and increasing liquidity from Yellen and the TGA would provide an accommodative environment for risk assets. This will also be a month after the Bitcoin halving, which has always been a bullish catalyst for Bitcoin's price.
This would potentially set up a very good second half of 2024 for crypto, with a possible market top coming at the very end of the year or even early 2025.
However, one thing we haven't mentioned that we should also continue paying attention to is the demand for ETFs. It's hard to know what effect the ETFs will have, although we expect they'll continue to bring demand to Bitcoin, which should only aid Bitcoin's price going higher.
Ultimately, we may be in for a choppy next month or so, but we expect crypto to perform very well in the second half of 2024. We continue to hold Spot positions with a focus on the majors and the SOL ecosystem, with a look to sell towards the end of 2024, maybe early 2025.
IS THE BULL RUN OVER?
Strong recent economic data likely pushes the Fed to begin cutting interest rates in July or September, with possibly only 1 (at most 2) interest rate cuts in 2024. The worst-case scenario would be the first rate cut coming in December, yes, post-presidential Election.
This has changed the risk environment to less risk-on in the past few weeks, and this may continue for another 3-8 weeks.
However, this is almost a welcome surprise as it may help crypto remain in a consolidation range (prices-wise). As a result, it will reset many of the overbought on-chain metrics and trading indicators, which should help prolong the bull cycle that was seeming to become too frothy too quickly. This would also extend the peaking of the on-chain metrics, meaning they would likely produce price tops towards the end of 2024.
From June onwards, a potential tapering of QT and increasing liquidity from Yellen and the TGA would provide an accommodative environment for risk assets. This will also be a month after the Bitcoin halving, which has always been a bullish catalyst for Bitcoin's price.
This would potentially set up a very good second half of 2024 for crypto, with a possible market top coming at the very end of the year or even early 2025.
However, one thing we haven't mentioned that we should also continue paying attention to is the demand for ETFs. It's hard to know what effect the ETFs will have, although we expect they'll continue to bring demand to Bitcoin, which should only aid Bitcoin's price going higher.
Ultimately, we may be in for a choppy next month or so, but we expect crypto to perform very well in the second half of 2024. We continue to hold Spot positions with a focus on the majors and the SOL ecosystem, with a look to sell towards the end of 2024, maybe early 2025.
Crypto Banter Signals
SOL: The chart is still undecided. However, if the price surpasses $156.20, then the yellow scenario may take precedence, targeting initial price ranges from $165 to $182 for wave c of (A). Either way, it appears likely that there will be a rally in the coming weeks, either in the yellow scenario or the red B-wave.
SOL: The chart is still undecided. However, if the price surpasses $156.20, then the yellow scenario may take precedence, targeting initial price ranges from $165 to $182 for wave c of (A). Either way, it appears likely that there will be a rally in the coming weeks, either in the yellow scenario or the red B-wave.
Crypto Banter Signals
FET: Slight upside today. There have been only three waves from the recent low, so a break above resistance at $2.50 is needed at a minimum to indicate that a low has formed. A break below $1.93 would confirm the unfolding of wave (C) further. Maybe a low has formed, but if not, then one more low might be all that the chart needs to complete the correction. $1.58 is the next support level. From what I can see the correction should be over soon. I will change my view if the price breaks below $1.28, because this would indicate a break of price structure.
FET: Slight upside today. There have been only three waves from the recent low, so a break above resistance at $2.50 is needed at a minimum to indicate that a low has formed. A break below $1.93 would confirm the unfolding of wave (C) further. Maybe a low has formed, but if not, then one more low might be all that the chart needs to complete the correction. $1.58 is the next support level. From what I can see the correction should be over soon. I will change my view if the price breaks below $1.28, because this would indicate a break of price structure.
Crypto Banter Signals
WIF: The price reacted to the micro support zone and a break above the wave (4) high at $3.16 would indicate that a low has formed in wave (iv) already as per the white scenario. If the low has not formed already, then one more low could be enough to complete this wave (iv) correction.
WIF: The price reacted to the micro support zone and a break above the wave (4) high at $3.16 would indicate that a low has formed in wave (iv) already as per the white scenario. If the low has not formed already, then one more low could be enough to complete this wave (iv) correction.
Crypto Banter Signals
ICP: My view is that this rally could be a B-wave, with standard resistance between $15.23 and $18.31. A break below $11.37 is needed to indicate that wave (c) has started to the downside. If 5 waves to the upside form, then circle wave 5 is still unfolding and might be targeting $31.37.
ICP: My view is that this rally could be a B-wave, with standard resistance between $15.23 and $18.31. A break below $11.37 is needed to indicate that wave (c) has started to the downside. If 5 waves to the upside form, then circle wave 5 is still unfolding and might be targeting $31.37.
Crypto Banter Signals
ADA: Not much has changed since yesterday. The price has moved out of the support zone and is heading upwards. The next resistance level is at $0.561. According to the current Elliott Wave pattern (yellow), wave (3) is expected to reach at least $0.568. However, the price must break above $0.561 first. If a complete five-wave sequence unfolds as depicted in yellow, reaching $0.598 or higher, it would suggest that wave 2 has established a low. Until then, one more low is likely in this correction.
ADA: Not much has changed since yesterday. The price has moved out of the support zone and is heading upwards. The next resistance level is at $0.561. According to the current Elliott Wave pattern (yellow), wave (3) is expected to reach at least $0.568. However, the price must break above $0.561 first. If a complete five-wave sequence unfolds as depicted in yellow, reaching $0.598 or higher, it would suggest that wave 2 has established a low. Until then, one more low is likely in this correction.
Crypto Banter Signals
CKB: The price has reached the wave iv support zone, which is defined between $0.009266 and $0.0185. To keep the impulsive upside potential alive, the 50% retracement level needs to hold. A break below $0.009276 will activate the blue scenario, in which the price is in a b-wave pullback. This scenario would make the chart very unreliable and it would then be wise to wait for a 1-2 setup in blue wave (c) for confirmation that a new uptrend has started. Wave (A) in yellow has reached an ideal target, so a wave (B) bounce could start from here,
CKB: The price has reached the wave iv support zone, which is defined between $0.009266 and $0.0185. To keep the impulsive upside potential alive, the 50% retracement level needs to hold. A break below $0.009276 will activate the blue scenario, in which the price is in a b-wave pullback. This scenario would make the chart very unreliable and it would then be wise to wait for a 1-2 setup in blue wave (c) for confirmation that a new uptrend has started. Wave (A) in yellow has reached an ideal target, so a wave (B) bounce could start from here,
Crypto Banter Signals
LINK: The blue scenario shows the most bullish interpretation. If we can identify 5 waves, which reach $17.72+, then a low has likely formed in wave ii already. A 3-wave rally into resistance will indicate a B-wave in yellow. Both blue and yellow scenarios require a break above $15 to unfold. If one more low unfolds as per the white scenario, $10.65 is likely the next support level. Based on these scenarios, from a tactical point of view dips can be opportunities to look for long positions, whereas a rally into the resistance area might offer the opportunity to take partial profits.
LINK: The blue scenario shows the most bullish interpretation. If we can identify 5 waves, which reach $17.72+, then a low has likely formed in wave ii already. A 3-wave rally into resistance will indicate a B-wave in yellow. Both blue and yellow scenarios require a break above $15 to unfold. If one more low unfolds as per the white scenario, $10.65 is likely the next support level. Based on these scenarios, from a tactical point of view dips can be opportunities to look for long positions, whereas a rally into the resistance area might offer the opportunity to take partial profits.
Crypto Banter Signals
FET: I have little new information to share since the last update. Currently, the move up has some strong momentum and has extended to a level that is quite high for a fourth wave in the white scenario, so I'm treating it as if a low has already formed. However, given the corrective nature, it's likely just a diagonal at best, or possibly failing in another corrective B wave. It's difficult to make a definitive assessment at this point until all 5 waves to the upside have formed as per the yellow scenario. Nevertheless, if you scaled into the recent lows, then you can just manage risk and consider taking partial profits if the price rises further, because the price might spend some more time in this range before really breaking out.
FET: I have little new information to share since the last update. Currently, the move up has some strong momentum and has extended to a level that is quite high for a fourth wave in the white scenario, so I'm treating it as if a low has already formed. However, given the corrective nature, it's likely just a diagonal at best, or possibly failing in another corrective B wave. It's difficult to make a definitive assessment at this point until all 5 waves to the upside have formed as per the yellow scenario. Nevertheless, if you scaled into the recent lows, then you can just manage risk and consider taking partial profits if the price rises further, because the price might spend some more time in this range before really breaking out.
Crypto Banter Signals
LINK: The price needs to move a little higher for me to consider wave (3) in the blue scenario as completed. The price has now been rejected at the 100% extension level, which is usually a rejection point in a corrective rally. A break above today´s high will open the door for the price to reach $16.87, which is the first ideal target for blue wave (3).
LINK: The price needs to move a little higher for me to consider wave (3) in the blue scenario as completed. The price has now been rejected at the 100% extension level, which is usually a rejection point in a corrective rally. A break above today´s high will open the door for the price to reach $16.87, which is the first ideal target for blue wave (3).
Crypto Banter Signals
SOL: The price structure remains unchanged. A micro support region has been defined for the yellow B-wave. Should a pullback occur, the support is defined within the range of $127 to $141. The probabilities on this chart are evenly balanced and are expected to remain rather unclear for the foreseeable future, due to the corrective nature of the micro structures.
SOL: The price structure remains unchanged. A micro support region has been defined for the yellow B-wave. Should a pullback occur, the support is defined within the range of $127 to $141. The probabilities on this chart are evenly balanced and are expected to remain rather unclear for the foreseeable future, due to the corrective nature of the micro structures.
Crypto Banter Signals
DOT: The price has not done much since yesterday and the rally is just in 3 waves. To further confirm the yellow scenario, in which wave (ii) has already formed a low, wave (3) should reach $8.54+. The price has now reached a critical resistance level and if wave (5) to the downside is supposed to start, then ideally from here. This is a key juncture.
DOT: The price has not done much since yesterday and the rally is just in 3 waves. To further confirm the yellow scenario, in which wave (ii) has already formed a low, wave (3) should reach $8.54+. The price has now reached a critical resistance level and if wave (5) to the downside is supposed to start, then ideally from here. This is a key juncture.
Crypto Banter Signals
ADA: The price is consolidating below the resistance range I highlighted yesterday. The range between $0.516 and $0.523 is a critical resistance range and if a 5th wave to the downside is supposed to unfold, it would likely start from here. However, so far the price has not really experienced a strong rejection and a break above $0.523 would open the door for yellow wave (3) to reach $0.568+. We need to see 5 waves to $0.598+ to confirm that wave 2 has bottomed.
ADA: The price is consolidating below the resistance range I highlighted yesterday. The range between $0.516 and $0.523 is a critical resistance range and if a 5th wave to the downside is supposed to unfold, it would likely start from here. However, so far the price has not really experienced a strong rejection and a break above $0.523 would open the door for yellow wave (3) to reach $0.568+. We need to see 5 waves to $0.598+ to confirm that wave 2 has bottomed.
Crypto Banter Signals
GALA: Really slow price action today, and the price is consolidating just below the $0.05339 level, which represents the 100% fibonacci extension of yellow wave A of wave iv. A break above this level opens the door for the price to reach $0.0603, which is the first ideal target for wave (3) in white. It takes the formation of 5 waves to the 1.618 extension level at $0.065 to confirm that a low has formed. It is frustrating but it is important that we see these 5 waves to the upside before confirming that a low has formed, because price action from the 13th of April low so far looks corrective, and if one more low forms then this is the ideal spot to start wave v to the downside from.
GALA: Really slow price action today, and the price is consolidating just below the $0.05339 level, which represents the 100% fibonacci extension of yellow wave A of wave iv. A break above this level opens the door for the price to reach $0.0603, which is the first ideal target for wave (3) in white. It takes the formation of 5 waves to the 1.618 extension level at $0.065 to confirm that a low has formed. It is frustrating but it is important that we see these 5 waves to the upside before confirming that a low has formed, because price action from the 13th of April low so far looks corrective, and if one more low forms then this is the ideal spot to start wave v to the downside from.
Crypto Banter Signals
BONK: In the yellow scenario, the price is still extending in its third wave in my opinion. Micro support has been adjusted to the range between $0.x175552 and $0.x233393. The next structural resistance levels are at $0.x295561 and $0.x370425. Overall expectations are still for the price to form one more high in wave v to reach $0.x730239+. It is possible that this move has started, but the April 19th low needs to hold in this case.
BONK: In the yellow scenario, the price is still extending in its third wave in my opinion. Micro support has been adjusted to the range between $0.x175552 and $0.x233393. The next structural resistance levels are at $0.x295561 and $0.x370425. Overall expectations are still for the price to form one more high in wave v to reach $0.x730239+. It is possible that this move has started, but the April 19th low needs to hold in this case.
Crypto Banter Signals
ETH: The price has formed the c-wave in the white scenario that I mentioned in the previous update. A break above $3,300 is required to unlock bullish potential that could take the price into the upper target area starting at $3,400. Quick reminder that wave 3 in yellow should reach $3,624 to be reliable.
ETH: The price has formed the c-wave in the white scenario that I mentioned in the previous update. A break above $3,300 is required to unlock bullish potential that could take the price into the upper target area starting at $3,400. Quick reminder that wave 3 in yellow should reach $3,624 to be reliable.