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Technical-analysis

Bitcoin and Altcoins technical analysis.Hello everyone, welcome back. last few days been great days for traders, bulls been taking over the market and we saw some great pumps on different coins, lets checkout bitcoin to see whats going on here Bitcoin managed to break the downtrend channel, failing to go further down from 46k and with a breakout and pull back to 48k level, we saw a great bullish move helping us toward reaching the 50k level. checking out the daily chart candle by candle you could see that we have a good momentum right now, meaning that this move is going to last for now. *use the chart above for major support and resistances level.* Now currently bitcoin is forming a trading range between 50.4k and 51.4k, meaning that its gonna be here for a while. after that I expect a breakout causing the price rise to 53k level. Now lets take a look at BTC.D chart and see whats going on. as you can see BTC.D is at the bottom right now and candles are looking weak meaning that we are probably going to go back up. a simple rule about BTC.D is that when Total market cap is rising and BTC.D is going down or staying down, this means that Altcoins are going to go up, why ? its simple because the money that is entering the market is not spent on BTC, so its spent on other coins. now what happens when BTC.D goes up? well simply, money is taken out of alt coins and spent more on BTC, causing btc price to go up and alt/btc pairs to suffer. now should we sell our altcoins and buy btc? not exactly, there might be some good alt coins going further up based on their fundamentals or technical and again BTC.D going up usually effects the Altcoin/BTC pair as Bitcoin gains more worth than the alt coins in this period. For long term and mid term, everything looks good, there is a good potential for another big bull run, some alt coins are going to go 2x - 5x and bitcoin is going toward ATH. *Keep in mind this is not a financial advice*
Long
by Algo_Analyst
Gala complete analysisHello traders, welcome back. I hope everyone is doing good. I decided to write down about my own watchlist during this unstable market, this way you can have a solid strategy on how to react in certain scenarios. during these series of Idea I will be talking about how the charts are looking, support and resistances and also what to expect in short, mid and long term. * Keep in mind this is not a financial advice * Gala had rose real high, after that big bull run we had a quite good correction in price ( Orange trend line ), recently price broke out of the trend line, did a pull back and went up for around 30%. as you can see, I have market two major support zones, in the previous market crash, we touched the lowest one which was a great entry, now what expect is that we will be in this range for a while. if you are willing to buy this crypto, two support zones are the best place to have a buy order : I believe we had our first leg up and now there is one more leg left, so my long term prediction would be 1.17$ Good luck don't forget to like and subscribe ;)
Long
by Algo_Analyst
2
Bearish on Bank Of America (BAC)This is my first time publishing any analysis and I have also not been analyzing charts for to long. This post is more so looking for feedback on my analysis, but if it helps others, then great. That being said, I am confident in shorting BAC as a result of the bearish indicators shown in my chart. For one, it is hovering above a support level that I think needs to be hit before BAC rebounds. My other reasoning is the the 50 day and 100 day moving averages are crossing. The third reasoning shown in my analysis is the "Bearish Cup and Handle Pattern." Also not drawn in what I believe to be a bearish pennant pattern. These reasons are why I have a bearish bias on BAC. As I said before, I am new to this, so any feedback would be MUCH appreciated. (Not Financial Advice)
NYSE:BACShort
by inactiveaccountdontfollow
1
TLM setup suggestionHello guys, welcome back. I think TLM is at the bottom right now, considering that BTC might fall a bit more we might see price going further down. Everything explained on chart, as you can see we are in a channel right now, stop losses are also pointed out. Its not a financial advice, just a suggestion. Be careful and good luck. Follow me on tradingview for more updates and check my profile for other social medias. Comment below your idea. Don't forget to like ;)
Long
by Algo_Analyst
This is where I start looking to re-enter - 42-46kHi Traders, A non-video post for you all here. Bitcoin, under the ascending BLACK trendline, has now entered into bearish territory. But, as I have explained numerous times throughout my daily update videos, I do NOT think this is the beginning of a longer-term bear market. This, quite simply, is a pull-back that may last for a few more weeks or through mid/end of December. Why? Institutional investors and hedge funds are collecting profits. Re-allocation will begin in Jan-Feb, at which time Bitcoin should turn bullish once again. Time, price, pattern. That was the time aspect. Now onto price and pattern. We are in bear territory. Slightly. But still. Looks like a bear flag has formed on the daily, but we also have adequate support below us at anywhere from $42,000 to $46,000. Long term hodl'ers don't seem to be releasing their grip. Lots of volume below us according to VPVR as well as the 200 day. Additionally, two potentially significant uptrending lines for support. All of these are strong arguments for a near bottom in this drawback soon. Stock markets are bearish. Yes. True. I've stated my case for this in the last several videos but you may view my last one in the related links below. In correlation with the stocks becoming bearish, Bitcoin has followed suit. However, I am not sure how long this correlation will last? Maybe it continues and the stock market bulls return pulling bitcoin up with it? Maybe a de-coupling occurs and stocks continue to be bearish but crypto turns bullish? This all remains to be seen. What I can read from the charts is that it does look like our crypto space is nearing a bottom on this current drawback. A few more days or maybe weeks and I should be able to start putting together some decent setups once again. Stay tuned and until then, trade safe all! -Stew
INDEX:BTCUSD
by stewdamus
1
Bitcoin clean chart explanation.Hello guys, welcome back. today I'm planning to share my analysis on bitcoin, lets see step by step what has happened so far and then we can predict what might happen. please keep in mind, its not a financial advice, we are just trying to find a good insight on price action, I strongly suggest to keep calm and not fomo specially in these days, be very careful and always have a risk management for your trades. Here, you can see that we had this down trend from 14 Apr till 21 Jul, this big correction started as price tried to reach for higher highs but showed weakness everytime. at the end of this downtrend, we had two important support and resistance level which made us this beautiful price accumulation. as you can see as price broke this level, we had a ride toward 53k resistance zone in which we got rejected from and from there, we came back straight to support zone. by break of 53k support zone, trend continued to reach previous high and also make a new ATH, and then another sell started which caused the price crash to 53k support zone : by break of 53k support zone, we went straight down to 40k, now some might say its a market manipulation or anything like that, but the thing is its still meaningful in price action, so from now on we can expect two things; the last time price reached 40k, it was with a huge candle ( pretty meaningless ) and priced bounced off right away, we certainly did break the 53k support, but we are not sure if we are done with retesting the 40k, so price has 2 places to visit A) 53k resistance Zone - B) 40k support zone. so be prepared for both of them ! also, the price action on 40k zone showed so much bull strength, this means there is a very low chance of price falling below 40k. what I personally expect is something like this : Don't forget to like and subscribe for more updates. Let me know what you think in the comment below. Good luck ;)
by Algo_Analyst
2