The general trend is bearish for the whole crypto market and this makes it easy to spot bearish patterns such as the HS we have on COMP.

Seeing a nice head and shoulders pattern forming on the COMP asset. This is the 1H chart. The target is a bit aggressive. We could fall lower than that.

https://www.tradingview.com/x/PUAus7hs/

Credits CryptoPro

Daily dose of TA from OnePoint

https://www.tradingview.com/x/CebZXGwI/

Bitcoin : A review on the higher time frame

Bitcoin is entering a very long consolidation phase which makes the volume decrease over time which causes a lot of manipulation in the short time frame and lower degree in the intraday basis. Therefore, I choose to cover the movement on the higher time frame which makes the significant zone become more clearer.

Currently, the price is still trending above the white zone which is becoming a strong support zone for bitcoin. You can see that this white zone could be the neckline that has been broken by the price which previously formed an inverted head and shoulder as well. Therefore, we can assume that the current drop could be the phase 2 of break out strategy which is retesting previous broken resistance as a support. In other word, the next huge movement will be determined by whether the price can breaks below this white zone or will it able to hold the price and having a bounce to confirm the next cycle of bullish market.

For now, the MACD histogram on the weekly time frame is printing a tick toward the negative side for the first time which is showing us another weakness in momentum as well.

In my opinion, the price will has another consolidation continues above the white support zone before it determine the next target to be. That's why we have to be extra patient at this level. Under a long consolidation like this, there will be a lot of choppy movement even it's on the weekly time frame. Watch the liquidation zone toward the $9000 region as well (as the potential WXY pattern which I've anticipated at previous analysis).

We've already done an indebth analysis on ADA so this should be easy. We're at resistance and we'll be loading shorts in the red zone. Our eyes are on the green zone.

Almost all the assets have head and shoulders pattern which is bearish.

https://www.tradingview.com/x/YzxL2BMg/

LTC is doing its rising channel thing again which makes it much easier to short it. We'll be loading up shorts until $46.5.

LTC is still an asset we'd love to short because of how much it can fall if it begins.

https://www.tradingview.com/x/CGNw9ZdG/

Closed our long scalps and started gradually shorting some of the majors. Considering we;re entering at resistance zones, these trades are low risk.

We're expecting the big head and shoulders to play out. We'll be loading up shorts for ETH from here till $360.

Don't lose sight of the bigger picture. Not until we move higher. If ETH stop is hit, then we'd consider $500 on the table and start looking for longs.

https://www.tradingview.com/x/SLdy3gQZ/

Doing same for BTC. Even though we're still swing short from $12300, we've been taking profit lower and are adding more shorts in this resistance level. The highest we'll expect BTC to go is a wick to $10820.

Just like ETH, we expect BTC to start facing some resistances here. A close above $10820 and we'll start looking for longs.

This is a swing trade with target at $9600 and $8500.

https://www.tradingview.com/x/J39RK7vn/

If you're not already short, then this might be to your liking. Also something for the EW lovers.

We don't use EW in our analysis but once in a blue moon we reference it. In this case we're using EW because of the Fib tool. The Fib tool is something we use a lot.

We ca see that BTC just did a 61.8% retrace of the move down. Now we'd expect price to continue down.

If you're conservative, short after breaking below the 50% Fib line.

https://www.tradingview.com/x/yRtOjMFx/

Those who are conservative should have gotten their shorts filled in. Before the 12H close, price tried to pull a quick bullish move up but bears were strong enough to halt any significant up moves.

The attempt however caused some anomalies in some assets such as ADA but the general market is still exhibiting some bearish signs. Looks like bulls couldn't do anything to save the day.

Now $10646 has become a crucial level that bears need to defend. The next step is to close 1H or better 4H below $10547. The moment this happens, bears have total control of the market again. All bears need to do is defend $10646 until we close below $10547.

https://www.tradingview.com/x/53liMw0q/

Cryptocurrency Exchange KuCoin Hacked.

A lot of Bitcoin, Ethereum, and other cryptocurrency left the exchange all at once. About $150 million worth, actually.

https://decrypt.co/43015/cryptocurrency-exchange-kucoin-likely-hacked-reports
https://www.kucoin.com/news/en-kucoin-security-incident-update

Our ETH short got more fills in the red zone. Now all we need is for price to get back below the green support zone on this 1H chart to gain more bearish strength.

We still think we're seeing distribution here because we recently broke below a rising wedge.

https://www.tradingview.com/x/plmSV3ES/

LTC short is also fully filled as we hit resistance at $46.5. This is the 4H chart and we can have confidence that price will drop because of the rising wedge.

Rising wedges are bearish patterns that lead to price continuing a down trend. In the case of LTC, we have been down trending for a while now and finally broke $45.5 as support.

Now, after a level is broken as support, price mostly comes back to test it again to see if it holds as resistance, if it holds then price continues down.

There are instances where the breakdown would be just a fakeout so we would see price do a V-Shape recovery back above the broken support.

V-shapes mostly happen quickly and their patterns for rising back up are not bearish. For LTC, we see a rising wedge pattern as we rose to retest $46.5 which means price will still continue downward. This is not a V-Shape recovery.

After the breakdown, we're looking for price to stall a bit at the green support zone ($43 - $43.45) before finally breaking it. If the move down is very strong then we'll just break through it at a go.

https://www.tradingview.com/x/4tnauzPw/

Deadcat bounce in overall Alts market. More detail here 👇

#LINK is leading market and great example to review 👇

https://tradingsim.com/blog/dead-cat-bounce/

Remember our DOT/USDT analysis on 21st September? Everything is going according to plan. Clients added to more shorts when price bounced to test the $4.47 support as resistance.

What we're seeing across board in most markets is just dead cat bounce and nothing more. We are waiting for DOT/USDT to drop even further to the second green zone before finally taking all profit.

https://www.tradingview.com/x/OdgwNoFb/

Thoughts on RFUEL, Bonds and the next few weeks in financial markets. Grab your headphones and give it a listen.

Woah feels super badass to see Bitcoin follow the bonds. Now you know why I dropped an audio instead of a lengthy text

Like we said already, you shouldn't be picking up BTC with long term targets in mind. Only aim to scalp a few hundred dollars or profit trail your trades.

BTC dumps, moves up gradually and suddenly drops again. This should highlight where strength actually lies which is with the bears.

Price action is still looking bearish. Price went up to allow us fill our shorts and then move down rapidly. We can see another deviation above $10835 on the 4H chart.

Price is back at the key support area ($3620 - $3670) and as usual we're seeing bulls stepping in. There are 2 scenarios that could play out here for downward continuation.

The black arrow scenario suggests we'll go up to do a bearish retest at $10772 to form a potential head and shoulders before continuing down.

Or the pink arrow scenario where we just fall through here without moving up significantly. Nearest target for any down moves is $10280.

Market Makers will keep distributing and loading up shorts as retailers hope for a bull run and keep buying every support. They are very patient, you need not fall to their schemes.

If you want to be convinced we're going to new highs, wait for when we start closing daily above $11000. Even then, you have to be careful.

On another note, we're back below every single EMA on the 4H, that gives more strength to the bears.

https://www.tradingview.com/x/VhqZDVGy/