https://www.tradingview.com/x/ufN1YLQ7/
Bitcoin Dominance, worth to see
It's been several weeks that I don't cover the analysis of bitcoin dominance. Currently the bitcoin dominance is still trending at its neutral zone which is around 67% level which leave it unbiased. With the chart applied, we can easily deduce that the up trend channel is the crucial factor that hold the dominance as well. Dominance has showed us 2 attempts of breaking down the lower line of the channel since February 2020 but both attempts ended up with a bounce, a good bounce.
Just like what we've seen here, the bounce from the lower trend line however is a good thing for bitcoin itself. Yes, bitcoin is having the positive correlation with the movement of bitcoin dominance. The mechanism of money inflow and increasing degree of trust on bitcoin makes the positive sentiment occur on bitcoin itself.
Even though it's good for bitcoin, but it's clearly become a hard time for Altcoins market. A money inflow in bitcoin means money outflow for Altcoins, which potentially the blood bath will occur on Altcoin market especially with btc pair.
For short term, due to a combination of higher high and higher low pattern, I'll expect a spike of dominance to higher level maybe around the 70% level. But, to reach the ideal equilibrium in the market, I will still projected the long term drop of the bitcoin dominance to breaks below the lower line of the channel to back to 50% dominance again.
Bitcoin Dominance, worth to see
It's been several weeks that I don't cover the analysis of bitcoin dominance. Currently the bitcoin dominance is still trending at its neutral zone which is around 67% level which leave it unbiased. With the chart applied, we can easily deduce that the up trend channel is the crucial factor that hold the dominance as well. Dominance has showed us 2 attempts of breaking down the lower line of the channel since February 2020 but both attempts ended up with a bounce, a good bounce.
Just like what we've seen here, the bounce from the lower trend line however is a good thing for bitcoin itself. Yes, bitcoin is having the positive correlation with the movement of bitcoin dominance. The mechanism of money inflow and increasing degree of trust on bitcoin makes the positive sentiment occur on bitcoin itself.
Even though it's good for bitcoin, but it's clearly become a hard time for Altcoins market. A money inflow in bitcoin means money outflow for Altcoins, which potentially the blood bath will occur on Altcoin market especially with btc pair.
For short term, due to a combination of higher high and higher low pattern, I'll expect a spike of dominance to higher level maybe around the 70% level. But, to reach the ideal equilibrium in the market, I will still projected the long term drop of the bitcoin dominance to breaks below the lower line of the channel to back to 50% dominance again.
🎓#SpotTrade 🎓
🎓 $RVN / BTC - View Chart
🔸Signal Info: Raven Coin
Rank: #53
Exchange: Binance (Trade)
Direction: LONG
🔸Analysis: Raven coin is always a good coin to look at when market cycles are changing. It might not always be the first out of the block but when it does move, it get much volume and steady quick growth. The upside potential on RVN is just absolutely ridiculous here. I have measured out only the first target for now at a whooping 48%. If things really do play out in our favour, then there will be plenty of time to celebrate those other victories in the future! Lets see the Raven take to the skies 🦅
🔸Current Price: 217sats
❇️Entry: 195sats, 220sats
🎯Take Profit: 307sats, 431sats, 669sats
♦️Stop Limit: 162sats (-21.5%)
🎓 $RVN / BTC - View Chart
🔸Signal Info: Raven Coin
Rank: #53
Exchange: Binance (Trade)
Direction: LONG
🔸Analysis: Raven coin is always a good coin to look at when market cycles are changing. It might not always be the first out of the block but when it does move, it get much volume and steady quick growth. The upside potential on RVN is just absolutely ridiculous here. I have measured out only the first target for now at a whooping 48%. If things really do play out in our favour, then there will be plenty of time to celebrate those other victories in the future! Lets see the Raven take to the skies 🦅
🔸Current Price: 217sats
❇️Entry: 195sats, 220sats
🎯Take Profit: 307sats, 431sats, 669sats
♦️Stop Limit: 162sats (-21.5%)
TradingView
🎓#SpotTrade 🎓 $RVN / BTC 🎓 for BINANCE:RVNBTC by HashedPlutus
🔸Signal Info: Raven Coin
Rank: #53
Exchange: Binance
Direction: LONG
🔸Analysis: Raven coin is always a good coin to look at when market cycles are changing. It might not always be the first out of the block but when it does move, it get much volume and…
Rank: #53
Exchange: Binance
Direction: LONG
🔸Analysis: Raven coin is always a good coin to look at when market cycles are changing. It might not always be the first out of the block but when it does move, it get much volume and…
https://www.tradingview.com/x/l9cKLnu1/
Bitcoin : EW perspective, Symmetrical Triangle and 2 scenarios
Hello all, here I want to give you an update about bitcoin's move and analysis.
First, I want to cover the Elliot wave perspective that I combine with the fibonacci extention number. From this perspective, I find that there is a possibility for 1 more wave going up with the target of the 1.618 fibonacci extention from the measurement of the wave 1 and the wave 2 as the correction wave. Based on the current structure, there is a high possibility that currently the price is still trending in the wave 4 as the correction wave. It's very typical here to see the wave 4 moves in the symmetrical triangle as the ABCDE structure represent a flat correction. If this scenario is in play, we can see a huge moving up to complete the wave 5 at around $12000 region.
The 2nd scenario is if the EW perspective is invalidated which means the price breaks down of current triangle, we might see a push lower here. You know that if the price can't breaks out of the $10500 region, the hidden bearish divergence which I've anticipated previously will become valid. The bearish hidden divergence is the condition when there is a lower high in the price but higher high in the oscillator indicator such as RSI and MACD. With this possibility, the price could moves lower to the $5000 or possibility of creating new historical low.
For swing position, it's very wise to wait for another confirmation of breaking out of the triangle that is still in play.
Bitcoin : EW perspective, Symmetrical Triangle and 2 scenarios
Hello all, here I want to give you an update about bitcoin's move and analysis.
First, I want to cover the Elliot wave perspective that I combine with the fibonacci extention number. From this perspective, I find that there is a possibility for 1 more wave going up with the target of the 1.618 fibonacci extention from the measurement of the wave 1 and the wave 2 as the correction wave. Based on the current structure, there is a high possibility that currently the price is still trending in the wave 4 as the correction wave. It's very typical here to see the wave 4 moves in the symmetrical triangle as the ABCDE structure represent a flat correction. If this scenario is in play, we can see a huge moving up to complete the wave 5 at around $12000 region.
The 2nd scenario is if the EW perspective is invalidated which means the price breaks down of current triangle, we might see a push lower here. You know that if the price can't breaks out of the $10500 region, the hidden bearish divergence which I've anticipated previously will become valid. The bearish hidden divergence is the condition when there is a lower high in the price but higher high in the oscillator indicator such as RSI and MACD. With this possibility, the price could moves lower to the $5000 or possibility of creating new historical low.
For swing position, it's very wise to wait for another confirmation of breaking out of the triangle that is still in play.
https://www.tradingview.com/x/RC1c98wk/
#BTC/USDT (Inverse Chart)
Wait For Bitcoin To Breakout The Choppy Zone
#BTC/USDT (Inverse Chart)
Wait For Bitcoin To Breakout The Choppy Zone
#BTC/USD (1W)
Sorry Moon Boisss 🙏
A Big Correction is On it's Way From $10K Level To $6K Level
Bitcoin Without a Retracement is a Ticking Bomb Which Gonna Explode Soon. 💣
No More Pump is Left
Bitcoin Had Already Topped Out at $10,050 Zone.
Now,
Still if You Are Bullish.
Ehhh..., All The Best
Sorry Moon Boisss 🙏
A Big Correction is On it's Way From $10K Level To $6K Level
Bitcoin Without a Retracement is a Ticking Bomb Which Gonna Explode Soon. 💣
No More Pump is Left
Bitcoin Had Already Topped Out at $10,050 Zone.
Now,
Still if You Are Bullish.
Ehhh..., All The Best
https://www.tradingview.com/x/MmbhxJ85/
Bitcoin : Contracting triangle at wave 4
Hello all, welcome back to the daily analysis about bitcoin. This time I will share my overview of current market condition based on the 4 hour chart.
Continuing my yesterday's analysis about bitcoin, This time I will share to you about the Flag correction pattern which usually occurs in the 4th wave after parabolic moves. I will try to explain the psychology behind it. One of the most used of the flag correction pattern is the 5 correction sub wave that forms a contracting triangle. Usually the bears and the bulls will have a war to defend their own interest. Because of this war which 2 of them have the same power level, the price moves in a sideways with the edge is getting narrower which we know that the edge as APEX where we see a trend confirmation from this area.
The contracting triangle usually occurs at the wave 4 to retrace the wave 3. At current condition, the characteristic of the pattern is very typical as the flag correction wave of the 4th. Beside there is a strong indication that the price will continue it to the upside with the RSI is trending above the 60 level which is the area of bullish momentum.
I will wait for the price to test the lower line of the contracting triangle as the potential end of 5 wave structure which is the end of the potential wave 4 to enter long position. Because at this level ($9000 - $8800), usually opening long will produce a low risk trade. But, if I'm not able to catch the price at the lower line of the channel, a buy at the break out could be considered with tight SL as well.
My bias is bullish for short term and $10000 could be tested in near future.
Bitcoin : Contracting triangle at wave 4
Hello all, welcome back to the daily analysis about bitcoin. This time I will share my overview of current market condition based on the 4 hour chart.
Continuing my yesterday's analysis about bitcoin, This time I will share to you about the Flag correction pattern which usually occurs in the 4th wave after parabolic moves. I will try to explain the psychology behind it. One of the most used of the flag correction pattern is the 5 correction sub wave that forms a contracting triangle. Usually the bears and the bulls will have a war to defend their own interest. Because of this war which 2 of them have the same power level, the price moves in a sideways with the edge is getting narrower which we know that the edge as APEX where we see a trend confirmation from this area.
The contracting triangle usually occurs at the wave 4 to retrace the wave 3. At current condition, the characteristic of the pattern is very typical as the flag correction wave of the 4th. Beside there is a strong indication that the price will continue it to the upside with the RSI is trending above the 60 level which is the area of bullish momentum.
I will wait for the price to test the lower line of the contracting triangle as the potential end of 5 wave structure which is the end of the potential wave 4 to enter long position. Because at this level ($9000 - $8800), usually opening long will produce a low risk trade. But, if I'm not able to catch the price at the lower line of the channel, a buy at the break out could be considered with tight SL as well.
My bias is bullish for short term and $10000 could be tested in near future.
Hashed Plutus (Crypto Signals, Technical Analysis, Education and News)
#ETH/BTC
#ETH/BTC
Here We Go...
ETH Hits The Target.
Now, i Would Reccommend You Guys To Must Have StopLoss On Your Open ALTs Positions.
Correction Will Begin Shortly 📉
Here We Go...
ETH Hits The Target.
Now, i Would Reccommend You Guys To Must Have StopLoss On Your Open ALTs Positions.
Correction Will Begin Shortly 📉
This is for intraday trading. I see a potential bull trap action from the bulls where the price is trying so hard to sustain above the upper line of the contracting triangle but it looks like losing strength with lowered down the volume. For short term purpose, I will see the white support trend line as the confirmation line to enter the short which means whenever the price breaks down of this support trend line, I will open a short with potential target between golden ratio and the .786 fibonacci retracement. This is an action to complete the E wave on the higher degree which I anticipate it as the contracting triangle. This is how you trade when the price moves inside the triangle.
https://www.tradingview.com/x/IeUVnX2a/
Sideways market for this week
Hello all, Happy Monday I hope you're doing great! Today is Monday and I will try to cover the bitcoin's analysis for 7 days ahead.
Bitcoin, Just like what I've posted earlier in my previous idea about the contracting triangle is still looking good and still in play as well. The price is still trending inside this triangle since the beginning of the month. However, there is another good factor here that it's potentially could be the 4th wave based on the elliot wave theory.
If this is the 5 wave structure and we're still trending at the wave 4, it's potentially that we'll see the price to moves closer to the APEX of the triangle which will become a lot of uncertainty there. Until we see a break out on both side, I think it's better to stay away from the swing position as well.
The other look is on the RSI and MACD. Just like what you've seen, the RSI is still trending right between the 60 and 40 level which is categorized as the neutral zone. The MACD itself is showing us the same thing here, Histogram that occur in the last 7 days is way smaller than the last month's histogram. This is another proof that we'll face a sideways market in the next 7 days as consequences of the contracting triangle and the potential wave 4.
For short term, I do believe there might be a touch toward the lower line of the triangle which is around $9000 - $8850 as well. The closer the price to the APEX, the higher the risk of entering any position.
Sideways market for this week
Hello all, Happy Monday I hope you're doing great! Today is Monday and I will try to cover the bitcoin's analysis for 7 days ahead.
Bitcoin, Just like what I've posted earlier in my previous idea about the contracting triangle is still looking good and still in play as well. The price is still trending inside this triangle since the beginning of the month. However, there is another good factor here that it's potentially could be the 4th wave based on the elliot wave theory.
If this is the 5 wave structure and we're still trending at the wave 4, it's potentially that we'll see the price to moves closer to the APEX of the triangle which will become a lot of uncertainty there. Until we see a break out on both side, I think it's better to stay away from the swing position as well.
The other look is on the RSI and MACD. Just like what you've seen, the RSI is still trending right between the 60 and 40 level which is categorized as the neutral zone. The MACD itself is showing us the same thing here, Histogram that occur in the last 7 days is way smaller than the last month's histogram. This is another proof that we'll face a sideways market in the next 7 days as consequences of the contracting triangle and the potential wave 4.
For short term, I do believe there might be a touch toward the lower line of the triangle which is around $9000 - $8850 as well. The closer the price to the APEX, the higher the risk of entering any position.
https://www.tradingview.com/x/IukQiWQi/
Bitcoin : Breaking out, wave 5 is in play.
At the time I make this post, I'm a bit shock with the ability of the bulls when it can push to the higher resistance trend line of the contracting triangle at the rate where the bulls are "not to strong". The sudden huge volume that has occured, makes it at another pump with a sign of breaking out the resistance trend line.
With this action, I think it's pretty important to see the price breaks out of the upper line of the triangle, making my previous EW count become valid again and I do believe that the price might push to the higher region as well. For the contracting triangle it self, I think that it's becoming invalidated after this breaking out action. The only pattern that I can see during this movement is the truncated C flat wave (Wave C can't surpass the area of wave A) which is usually occurs at the highly bullish market.
The other reason is at the 4 hours chart, the RSI has broken out of the previous resistance and is trending above the 60 level which is entering the bullish zone as well.
I flip my previous short position into long at $9800 and targeting the $12000 as well before this month ends
Bitcoin : Breaking out, wave 5 is in play.
At the time I make this post, I'm a bit shock with the ability of the bulls when it can push to the higher resistance trend line of the contracting triangle at the rate where the bulls are "not to strong". The sudden huge volume that has occured, makes it at another pump with a sign of breaking out the resistance trend line.
With this action, I think it's pretty important to see the price breaks out of the upper line of the triangle, making my previous EW count become valid again and I do believe that the price might push to the higher region as well. For the contracting triangle it self, I think that it's becoming invalidated after this breaking out action. The only pattern that I can see during this movement is the truncated C flat wave (Wave C can't surpass the area of wave A) which is usually occurs at the highly bullish market.
The other reason is at the 4 hours chart, the RSI has broken out of the previous resistance and is trending above the 60 level which is entering the bullish zone as well.
I flip my previous short position into long at $9800 and targeting the $12000 as well before this month ends
https://www.tradingview.com/x/UtTrr0V1/
#BTC/USDT
From Previous 6 Days
Bitcoin Has Been Pumping More & More Without Any Retracement Following a Similar Sort Of Pattern
"Accumulation ↪️ Breakout"
Which Made SHORTers Loose a Lot
Where as LONG Earned a Lot
Almost 20% Pump Without Any Correction
This is a Ticking Bomb 💣
This Time I'm Expecting Bitcoin To Breakdown Instead Of Another Breakout
Coz Majority Of Normal Traders Would Have Turned Bullish Coz Of 2 Factors :
1️⃣ $10K Resistance Blown Off
2️⃣ Continues Pump
Making SHORTers Rekt
Personally, I'll Not Be Taking Any Positions in Bitcoin Right Now...
Will Wait For Things To Cool Down Or a Big Drop.
Just Have StopLoss To Your Open Position & Chill Out. ☮️
#BTC/USDT
From Previous 6 Days
Bitcoin Has Been Pumping More & More Without Any Retracement Following a Similar Sort Of Pattern
"Accumulation ↪️ Breakout"
Which Made SHORTers Loose a Lot
Where as LONG Earned a Lot
Almost 20% Pump Without Any Correction
This is a Ticking Bomb 💣
This Time I'm Expecting Bitcoin To Breakdown Instead Of Another Breakout
Coz Majority Of Normal Traders Would Have Turned Bullish Coz Of 2 Factors :
1️⃣ $10K Resistance Blown Off
2️⃣ Continues Pump
Making SHORTers Rekt
Personally, I'll Not Be Taking Any Positions in Bitcoin Right Now...
Will Wait For Things To Cool Down Or a Big Drop.
Just Have StopLoss To Your Open Position & Chill Out. ☮️
Hashed Plutus (Crypto Signals, Technical Analysis, Education and News)
https://www.tradingview.com/x/UtTrr0V1/ #BTC/USDT From Previous 6 Days Bitcoin Has Been Pumping More & More Without Any Retracement Following a Similar Sort Of Pattern "Accumulation ↪️ Breakout" Which Made SHORTers Loose a Lot Where as LONG Earned a Lot…
https://www.tradingview.com/x/u0928jn7/
Bitcoin : A normal volatility, Break out strategy?
Hello all, the latest volatility from bitcoin was so extreme with a pump and dump manipulation on the market has occured. This action however making the potential of fake break out in the future to occur.
And to anticipate the possible movement in the future, I have to cover some of potential scenario that is likely to happen in the future. The first scenario that I find is that the latest drop from the $10000 region was only just a normal rejection as the price reached out the strongest resistance level and the psychological area for short position. The fact that there is a long wick toward the green region which is the golden pocket zone is supporting this scenario. Beside, at current level the price is still trending at above the upper line of the contracting triangle (using the body to body connecting method on daily time frame) which indicates this dump action as the action of phase 2 in the break out strategy which is retesting the previous broken resistance as support. If this scenario is valid, there will be a nice and beautiful bullish movement to the upside and the $12000 target is still valid.
The 2nd scenario which is the bearish one is when the price drops below the lower line of the contracting triangle and eliminate all the previous weeks which will automatically invalidate my Elliot wave count and my above bullish bias. If this occurs, I will expect a mid term drop to the $7500 and $6000 region again.
Currently I'm still waiting after the latest volatility wipes out most of the long position. Kindly wait for the confirmation on the micro time frame to get confirmation.
Bitcoin : A normal volatility, Break out strategy?
Hello all, the latest volatility from bitcoin was so extreme with a pump and dump manipulation on the market has occured. This action however making the potential of fake break out in the future to occur.
And to anticipate the possible movement in the future, I have to cover some of potential scenario that is likely to happen in the future. The first scenario that I find is that the latest drop from the $10000 region was only just a normal rejection as the price reached out the strongest resistance level and the psychological area for short position. The fact that there is a long wick toward the green region which is the golden pocket zone is supporting this scenario. Beside, at current level the price is still trending at above the upper line of the contracting triangle (using the body to body connecting method on daily time frame) which indicates this dump action as the action of phase 2 in the break out strategy which is retesting the previous broken resistance as support. If this scenario is valid, there will be a nice and beautiful bullish movement to the upside and the $12000 target is still valid.
The 2nd scenario which is the bearish one is when the price drops below the lower line of the contracting triangle and eliminate all the previous weeks which will automatically invalidate my Elliot wave count and my above bullish bias. If this occurs, I will expect a mid term drop to the $7500 and $6000 region again.
Currently I'm still waiting after the latest volatility wipes out most of the long position. Kindly wait for the confirmation on the micro time frame to get confirmation.
https://www.tradingview.com/x/nmQUQVAz/
#BTC/USDT ‼️
This Time The Current Support Would No Longer To Be Holded.
Incase, if Breaksout 📈
Next Hard Resistance is Available at $10K Level
#BTC/USDT ‼️
This Time The Current Support Would No Longer To Be Holded.
Incase, if Breaksout 📈
Next Hard Resistance is Available at $10K Level
https://www.tradingview.com/x/IPlaIDs2/
A quick insight for current bitcoin's condition in short term. It looks like that the upper line of the contracting triangle which previously acted as resistance is holding the price really well. It looks like the 5th wave of the EW structure is in play for now. If this is true, the scenario 1 is in play as well
A quick insight for current bitcoin's condition in short term. It looks like that the upper line of the contracting triangle which previously acted as resistance is holding the price really well. It looks like the 5th wave of the EW structure is in play for now. If this is true, the scenario 1 is in play as well
https://www.tradingview.com/x/V1qCAeQI/
Weekly overview : Similar pattern with the 2015 -2017 bull run
Good morning every body! I hope you're having a good day ahead. This time, I won't cover the low time frame analysis and this is much more than the swing trade analysis coming ahead but also talking about the future of the cryptocurrency market as you know the bitcoin is the mother coin and most of the stakeholders are treating the bitcoin as the benchmark of the whole momentum in the market.
First thing first, I always come up with the most important thing in the chart applied and as you can see, the whole up trend channel is becoming the most important factor that gives the significant of the bitcoin's moves.This up trend channel has been formed since the 2013 and still holding well the price of the bitcoin. As long as the price is still trending inside this channel, the major trend is overall bullish even if the price touches the $5000 region, this is bullish as long as the price is still trending inside this channel. In my opinion, it's still worth to make this bitcoin as 1 of your crypto asset for investment.
The second thing is the repeated pattern that is occuring inside this channel. There is a potential repeated pattern coming soon reflecting to the pattern that has occured back in the early of 2014. Back at the 2015, the beginning characteristic before the bull run is that the price broke down of the yellow resistance trend line which held the price for almost 2 years and the price was succeeded to breaches the 55 EMA as the dynamic resistance. Similar with the 2015 pattern, currently the price is trending slightly below the yellow resistance trend line and the price has broken out of the EMA 55 as dynamic resistance.
If the price is able to breaches the yellow resistance trend line, I will enter a huge amount of long position on bitcoin. Because, if there's a similar pattern to occur, we will see a huge bull run in upcoming months or years. We might see the price to head back to the lower region is the price fails to break the yellow resistance and we might see the potential price to trending closer to the APEX. But, as long as the price is still trending inside this uptrend channel, I have no worry and assume the up trend is imminent.
Weekly overview : Similar pattern with the 2015 -2017 bull run
Good morning every body! I hope you're having a good day ahead. This time, I won't cover the low time frame analysis and this is much more than the swing trade analysis coming ahead but also talking about the future of the cryptocurrency market as you know the bitcoin is the mother coin and most of the stakeholders are treating the bitcoin as the benchmark of the whole momentum in the market.
First thing first, I always come up with the most important thing in the chart applied and as you can see, the whole up trend channel is becoming the most important factor that gives the significant of the bitcoin's moves.This up trend channel has been formed since the 2013 and still holding well the price of the bitcoin. As long as the price is still trending inside this channel, the major trend is overall bullish even if the price touches the $5000 region, this is bullish as long as the price is still trending inside this channel. In my opinion, it's still worth to make this bitcoin as 1 of your crypto asset for investment.
The second thing is the repeated pattern that is occuring inside this channel. There is a potential repeated pattern coming soon reflecting to the pattern that has occured back in the early of 2014. Back at the 2015, the beginning characteristic before the bull run is that the price broke down of the yellow resistance trend line which held the price for almost 2 years and the price was succeeded to breaches the 55 EMA as the dynamic resistance. Similar with the 2015 pattern, currently the price is trending slightly below the yellow resistance trend line and the price has broken out of the EMA 55 as dynamic resistance.
If the price is able to breaches the yellow resistance trend line, I will enter a huge amount of long position on bitcoin. Because, if there's a similar pattern to occur, we will see a huge bull run in upcoming months or years. We might see the price to head back to the lower region is the price fails to break the yellow resistance and we might see the potential price to trending closer to the APEX. But, as long as the price is still trending inside this uptrend channel, I have no worry and assume the up trend is imminent.