BTC HOLDING CYCLE PRICE ACTION AND CAN RETURN 65KBTC did break down in the last hours, but it is holding still the cycle trend.
BTC has still a high chance to return from this point trend of 60K to a level of 65K
BTC has many corrections on the way, and BTC was able to recover every time again.
sometimes it's better for BTC to get a correction to have a strong volume for an uptrend.
WE have seen last weeks BTC had issues with volume.
Cryptocurrencies
BITCOIN Will people regret not buying at this stage?Around this time last year (see chart below), we analyzed yet again the similarities of Bitcoin's (BTCUSD) current Cycle with the one in 2014 - 2017. In fact we were among the fist channels in late 2022 to bring that up as a strong possibility and as you can see Bitcoin didn't fail to deliver:
We have entered however a stage where, as the title says, people could regret if they haven't bought already as it might be the last opportunity to do so on such low prices. The time-frame on both charts is 3D and as you can see, the MA50 (blue trend-line) has been the most optimal buy entry throughout the 2015 - 2017 Bull Cycle.
If the similarities continue to unfold between the two Cycles, then last week's breach of the MA50, should be the best buying opportunity at this stage. As you can see, we are proportionally at the end of the blue elliptical pattern which in early 2017 consolidated around and mostly below the former All Time High (ATH) level and then started the Parabolic Rally.
Do you think the current MA50 touch has marked the start of this rally? Feel free to let us know in the comments section below!
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XRP/USDT Local trend. Pivot zone. 1 09 2023Logarithm. Time frame 1 day. Local trend.
Logic of work and risk management shown and described on the chart. Also, percentages to the key local support/resistance levels.
This is how the direction of the local trend looks on a line chart without “market noise”.
Secondary trend (part)
This channel is in a secondary trend (part) to understand the local area, see here:
XRP Local Trend. Channel 394 days. Pivot zones.
Main trend. Time Frame 1 week.
XRP/USD Major trend (part) Triangle
Price has been moving (70% channel) for almost a year now along the dynamic support of a huge triangle rib after breaking the local downtrend (go to the idea above and press play to see and understand the gist).
The percentage range within the triangle is substantial. Also understand the % of profit this triangle has formed since the super pumping of 2016-2017.
If you follow risk management, understand the point, this should be of little concern to you. "Take it while it lasts". Where do you think the big triangle will eventually run? I know (a high probability), do you??? You don't need to know and understand this for local trading. You took profit and left, and what will happen next should not interest you at all...
Sometimes history tends to repeat itself, but if many people believe in this repetitiveness and shout about it from all corners—expect trouble.
All trading history that few people see. Exchanges where XRP was traded earlier in the majority - removed. On the new top exchanges where the cryptocurrency was listed later, it is understandably absent. If you understand the essence, then you are armed with the logic of the correct action in the future.
XRP/USD Main trend
Plan, understanding of risks, attentiveness and calmness in labor make money in the market, everything else is useless noise.
Even if everything is shown as it is, this useless noise drowns out reason, attentiveness, adequate understanding of simple things. People concentrate their attention resource on useless news, spend time on meaningless discussions, i.e. entertain themselves by engaging in a kind of semblance of "intellectual activity"....
Bitcoin BTCUSD Bullish Money Heist PlanMy Dear Robbers / Traders,
This is our master plan to Heist BTCUSD Market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich.
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Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target.
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BITCOIN Are you going to be able to handle this rally???Bitcoin (BTCUSD) is consolidating on the exact symmetrical spot it did relative to the previous Cycles. The blue circle marks that position historically and is that consolidation that always preceded the Bull Cycle's most aggressive part: the Parabolic Rally.
The Cycle bottom-to-bottom time range is fairly consistent to 1400 days and has been the bottom-to-top of the last two to 1064 days. Having broken above the cyclical Lower Highs (blue trend-line) on February, BTC historically posts only Higher Highs from here. The top can be anywhere within the $150k - $300k range for this Cycle, but as this chart shows, the important thing is to time it as closely as possible.
But what do you think? Is Bitcoin about to experience the start of the new Parabolic Rally? Feel free to let us know in the comments section below!
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TRX - The Outlier - Time For A Mega Short?Ah, Tronix. Yes, it's actually called "Tronix", not "Tron." The coin with the disappearing wallet. No joke, I made a wallet back in early 2019 for TRX and stored the private key. I like to do things the old fashioned way, so I wrote it down and double-checked it by logging in. The second time Iogged in, I got the notification, "this wallet doesn't exist." Since then, I've been pretty wary of this project. I could go into all sorts of conspiracy theories about Justin Sun, CZ, Binance, stablecoins......but I'll leave that to your imagination.
This is a purely technical setup. TRX is one of the few coins that has maintained higher support levels during this bloodbath. What's up with that? As far as I understand, TRX is burned to help keep the Tron stablecoin USDD pegged to the dollar. USDT recently moved away from the Tron network. Anomalies like this don't usually last long in the crypto market. I'm speculating that this breaks down massively. There's already buzz that TRX will be the next LUNA, but before I say it's going to zero, let's just look at horizontal supports. If TRX cannot hold the 200 MA on the 3 day (teal), and if it cannot hold that orange uptrend, I think it can fall 50% pretty quickly, much like other alts during this period.
On the bullish side, TRX will need to break and hold above the 200 day MA (teal in the below chart)
The 200 week MA lingers just below, at the 4 cents level. Now, the question is - does TRX test the 50 week MA near 8 cents one more time before dumping? Let's find out.
This is not meant as financial advice. This post is highly speculative, and is meant for entertainment :)
-Victor Cobra
TRX - The Outlier, Part 2This is just a quick follow-up post to my short idea on Tronix from May. Here is the original post.
I ultimately got stopped out of the first trade and failed to catch the nearly 50% drop. Despite dropping below the uptrend, TRX rebounded much better than the rest of the crypto market, and remains one of the only coins still above its bull market support. It's been doing better than both Bitcoin and Ethereum for months. So, what's going on?
Without going into too much detail, the price of TRX is being inflated due to burning mechanisms and its algorithmic stablecoin USDD. Does it deserve its current valuation? Is Justin Sun truly a genius who has engineered the perfect, stable asset? My bet is that this is not the case.
I'm scaling into a short again - entries are marked at the green levels on the lefthand chart, which shows short-term price action. Short term targets are in red, while longer term short targets are shown on the righthand chart (3 day). It might take some time for this to break down, during which TRX can again get into the mid-7 cents zone. This is especially the case if markets are to rally for another 2-3 months. This is why my stop is fairly tight here, and I'm just trying to catch a wave down.
Let's see! Invalidation will be if TRX can break and hold above that triangle resistance on the 3 day chart.
This is not meant as financial advice. This is meant for speculation and entertainment only.
-Victor Cobra
Bitcoin Breakout and Potential RetraceHey Traders, in today's trading sessioon we are monitoring BTCUSDT for a selling opportunity around 62,800 zone, Bitcoin was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 62,800 support and resistance area.
Trade safe, Joe.
Litecoin is approaching a decent resistanceHey Traders, in today's trading session we are monitoring LTCUSDT for a selling opportunity around 73.00 zone, Litecoin is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 73.00 support and resistance area.
Trade safe, Joe.
KASUSD Starting the rally to $0.4000Kaspa (KASUSD) has been trading within a Parabolic Growth Channel ever since its very first day, always supported by the 1W MA50 (blue trend-line). The 1W RSI recently almost reached 45.00 and rebounded and this week the 1W MACD will most likely complete the new Bullish Cross.
As you can see on this chart, this is a bullish signal for KAS as it is a repetitive pattern within the Parabola. It should technically now enter the green curve rally phase which on the previous 3 occasions made a new High at the top of the Channel.
Our medium-term Target is $0.4000.
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BITCOIN Just flashed the strongest Buy Signal of the Bull Cycle!Bitcoin (BTCUSD) turned oversold on its 1D RSI on Monday and yesterday immediately rebounded back above the 30.00 RSI oversold barrier. The previous 3 times it did that exact same sequence since November 09 2022, it was an indication that the bottom was formed and a structured rise / Channel Up would follow.
Technically we can claim that this is the strongest/ most consistent Buy Signal of the whole Bull Cycle so far. Those 3 times turned out to be the most optimal long-term buy entries for investors that buy on dips.
The Gaussian Channel shows that at worst, we are looking at a bottom formation process/ consolidation of another 2 months (as BTC did from August 17 2023 to October 16 2023) but the upside on this Fibonacci Channel Up is significant, with a repeat of the lowest % rise these past 2 years (+91.05%) giving us a minimum Target of $110000.
Do you agree with that? Feel free to let us know in the comments section below!
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Ethereum is approaching a significant support areaHey Traders, in today's trading session we are monitoring ETHUSDT for a buying opportunity around 3,100 zone, Ethereum is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 3,100 support and resistance area.
Trade safe, Joe.
JASMYUSDT is approaching a significant Resistance areaHey Traders, in today's trading session we are monitoring JASMYUSDT for a selling opportunity around 0.33 zone, JASMUSDT is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.33 support and resistance area.
Trade safe, Joe.
XRPUSD Is it dead or ready to rise parabolically?The XRP (XRPUSD) has been closing below both its 1W MA50 (blue trend-line) and the 1W MA200 (orange trend-line) since the week of April 08. At the same time it is testing the bottom (Higher Lows trend-line) of the Triangle structure that started on the January 01 2018 All Time High (ATH).
In relative terms, it appears to be similar to the Triangle that started after the December 02 2013 High and broke-out to the upside on March 20 2017. Its 1W RSI is at 40.00, low enough historically to be considered a long-term buy opportunity.
Technically, the next time it breaks above the 1W MA200, it has higher probabilities of initiating the parabolic rise towards this Cycle's Top. If not, we're afraid that the XRP army will need a need narrative to hang on to, as the long-term pattern would have failed them.
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BTC at the bottom of week range!Bitcoin hit the bottom of the range ✅ Alarm was right pointing for range bottom at ~58k, as BTC dipped to 58414 on that move.
Now the main question - is it over? Shortly - if you are a respected TA, you can't say so yet. Why? Because week candle is only developing, so we won't have any clarity till next week close at least. Day candle shown nice bearish impulse with long tail, which can be taken as a first step of a bounce pattern, but to confirm it we'll need another 1-2 Day candle to close. Which brings us back to the idea, that this week it's all about guessing, but no mindful conclusions.
Week close above ~60622-59600 will increase chances for a bounce from range bottom. Close below will keep momentum to dip lower. That is the only thing we can say now for sure.
Nearest liquidity pools:
above - 61840 / 62440 / 63260 / 64920
below - 60235 / 59820 / 59460 / 58040
Lines on the chart:
🔸67577 - May close
🔸63195 - week open
🔸60651 - April close
🔸59112 - March low
🔸56537 - May low
🔸53245 - Nov'21 low
Trend: D 🔽 W 🔼 M 🔼
🤑 F&G: 30 < 51 < 53 < 63 < 64
Bitcoin is approaching a decent resistance areaHey Traders, in today's trading session we are monitoring BTCUSDT for a selling opportunity around 65,000 zone, Bitcoin is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 65,000 support and resistance area.
Trade safe, Joe.
DOGEUSDT Potential DownsidesHey Traders, in today's trading session we are monitoring DOGEUSDT for a selling opportunity around 0.12600 zone, DOGEUSDT is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.12600 support and resistance area.
Trade safe, Joe.
PEPEUSDT is approaching the main trendHey Traders, in today's trading session we are monitoring PEPEUSDT for a selling opportunity around 0.00001140 zone, PEPE is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.00001140 support and resistance area.
Trade safe, Joe.
BITCOIN Hit 60k! Is the bleeding finally over?Bitcoin (BTCUSD) followed the medium-term June bearish forecast and as we projected on the following 2 analyses (see charts below), made the expected correction on the Support Zone around 60k:
Now the market has entered into a medium-term buy opportunity again and once we get confirmation from the 1D MA200 (orange trend-line), it will be a long-term one too. The May 01 Low and ultimate Support level is at 56550.
As you can see the 4H MA50 (red trend-line) has been resisting throughout the majority of the Channel Down/ corrective wave but the Resistance and true bullish confirmation was last time given (May 15) when the price broke above the 1D MA50 (blue trend-line).
As the top chart above shows, last year's accumulation phase (green) took another 2 months (August 17 - October 16 2023) to rise after the price broke below the 4D MA50, so we may see real movements at the end of the Summer when the price hits the bottom (Higher Lows trend-line) of the Bull Cycle's Channel Up.
In any event, BTC is on levels that long-term investors start consider buying again. Our standard medium-term Target is $72000. Note also that the 1D RSI is massively oversold at 25.50, last time it was this low was 10 months ago (on August 26 2023).
But what do you think about this price action? Is Bitcoin a solid buy now that it hit 60k again? Feel free to let us know in the comments section below!
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Strong Bearish Momentum on CardanoHey Traders, in today's trading session we are monitoring ADAUSDT for a selling opportunity around 0.3870 zone, Cardano is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.3870 support and resistance area.
Trade safe, Joe.
Ripples Breakout and Potential RetraceHey Traders, in today's trading session we are monitoring XRPUSD for a buying opportunity around 0.48050 zone, XRP was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 0.48050 support and resistance area.
Trade safe, Joe.
Bitcoin is approaching a significant support areaHey Traders, in today's trading session we are monitoring Bitcoin for a buying opportunity around 64,600 zone, Bitcoin is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 64,600 support and resistance area.
Trade safe, Joe.