A crypto bull. Eyes on the marketcap weekly chart for insights.I've annotated my charts for your convenience. Enjoy!
Cryptobullmarket
$ICPUSD | Model Defines All Time HighsThe targets on this chart are produced by a proprietary model. Data is fed into the model, the output is the targets you see on the chart. The support zone is also defined by the model.
🚀 The Great ComebackAs the crypto market consolidates after a raging bull run, traders scramble to see where the chips have fallen.
An interesting chart to look at is ETH/BTC. Now that the initial excitement is wearing off, it is perfect for recalibrating and considering a longer-term perspective. Here, we see the last four years of the ETH/BTC chart. We see that during crypto booms, ETH outperforms BTC. However, most of the time, ETH/BTC generally trades lower than where it currently is and seems to revert to its mean eventually.
The current level is where ETH historically failed to hold onto its gains multiple times in the past. This time seems to be a different story, as the support is holding well despite the brutal recent sell-off. It's worth noticing that the chart presents a series of lower highs during the previous cycle, while this week, the price could print the first-ever higher low above this crucial level.
On the other hand, the trading pair is still trading well below the all-time high valuations of 2017 and 2018, and that should pause caution for investors. Keeping an eye on this chart will provide valuable insights into the best time to rotate the portfolio again from Bitcoin into Altcoins.
3 futures gaps to fill.This is another case to the upside for BTC You can check my last couple charts to see I'm going against the grain here. Let's get it.
How can you be bearish?Not expecting a bounce up here is foolish in my opinion. The emotion from the bears is unbelievable. I am expecting an even bigger move up now a squeeze is upon us lol it's time to buy IMO and no I'm not saying BTC to the moon I'm saying its time to go long.
Bull Market Continuation for Crypto? The crypto market correction maybe over - based on my analysis I believe we have now completed an ABC correction in crypto and are likely to see a continuation of the bull market to new all time highs. In many ways this crypto market cycle has pretty much mirrored the 2013 crypto bull market and we saw very similar trends and price action then, with a major correction and a bull continuation.
Whilst I believe timing the market is extremely difficult and one is better off just looking at price action to determine direction, I have recently started to experiment with fib time tools. During my analysis a date of 8th July 2021 keepings coming up on multiple cryptos as a key event. I'm also seeing multiple confluence of various patterns and fib times pointing towards the end of this week for some major moves potentially to the upside.
BTC @ 0.5 fib LVL & 200 Daily MAI'm looking for a long entry around the 30 k range. This is also the area Elon Musk bought at so this level is key but beware of a fake out to the downside. These targets are just rough ideas I'll know more as time passes.
🚀Bear, Bull, Or?Investors and traders are people with emotions, fears, and biases. To overcome the uncertainty of every aspect of daily life, they need things that give them a feeling of safety.
Assigning a specific "label" to events, objects, or other people's behavior helps everyone categorize what happens around us to fit our mind schemes.
When trading, often happens the same process. It has been weeks now that traders struggle to answer the question, are we in a bear market?
Why is that so important to assign a label to current market conditions when you need to look at the price?
Interestingly, in 2019, the price of Bitcoin increased by 200%, but no one recalls a Bull market in 2021, even if such performances in any other asset class may have been well labeled so. That's likely because crypto price moves have a different scale.
Fibonacci retracements are a valuable way to gauge the magnitude of a price move. Despite the 200% surge, Bitcoin only retraced 61% of the drowdown experienced during the Bear market. Applying the same logic to the current price action, Bitcoin has found support precisely around the same 61% level calculated from the bottom in September 2020.
Should the current support hold, the label "Bear market" will be archived quickly, again.
🚀Hate It Or Love ItDid you buy the dip? If so, whose dip?
Altcoins have rebounded strongly since last week's lows, with Bitcoin looking much weaker and uncertain about which direction to take. That is consistent with the thesis presented in our recent post. We outlined how Bitcoin could trade sideways for a while, giving the market another opportunity for another mini-Altseason.
The chart compares Bitcoin's price (above) in parallel with the total market capitalization of cryptocurrencies (excluding Bitcoin) divided by BTC's market cap
This indicates quite clearly under and overperformances of the market versus Bitcoin.
Looking at the chart, Altcoins seem to have held quite firmly considering the Bitcoin's plunge, ending up capitulating only when the market volatility hit extreme levels. After the (local) bottom was in place, traders and investors rushed into buying back the coins that they were forced to fire-sell just a few days earlier. Experienced market participants have been able to buy back at a lower price, others, unfortunately at higher.
This is the typical wealth redistribution in these cases, from those that panic-sell to those who patiently wait to buy dips. Hate it, or love it, that's the market.
What's next? Despite the sharp rebound, Altcoins didn't manage to regain the steep uptrend. They have been trading in for weeks. If this doesn't happen soon, their momentum could deteriorate. In that case, that could be an opportunity to rotate back into Bitcoin, providing the right amount of fuel to break once and for all the $60,000 resistance.
🚀No Free LunchDid you hate the market crash this week? Don't blame Elon, either China or JPMorgan.
The market was overheated, and newcomers needed to learn the most important lesson of investing. Nothing comes easy, and there is no free lunch. Those who survived this sharp price drop carefully managed their risk, maybe with a stop loss in place. But the best tip to get by the volatility of the market is to stay focused and stick with your original plan.
Looking at the past for similar patterns may also be helpful. History never repeats but often rhymes. Bitcoin went through the same path last year, between July and September (shown at the bottom of the chart). A long sideways market anticipated a severe price correction that led to another month of price consolidation before picking up again with higher confidence.
Patterns like these show clearly how the demand and supply of an asset redistribute around key levels. As a reminder, once Bitcoin broke above the previous high at $12,000, its price skyrocketed 250% in three months. If the same scenario unfolds, Altcoin may have a further upside for a while before Bitcoin gathers investors' and traders' full attention.
Remember to manage the risk carefully until more signs of strength show up. A missed profit is worth more than a realized loss!
CRITICAL MOMENT FOR BITCOINBitcoin is at a critical moment of this bull market flirting with the 20W SMA. The last time it touched this critical support was in September 2020, where it kicked of the bull market by holding it as support. If we see a weekly close below the 20W SMA, we could see a lack of confidence in the altcoin market and potentially short-term capitulation. Otherwise, in case of a bounce, we could potentially see a relatively quick Bitcoin surge to the 60K range and test this critical resistance level.
🚀 Crypto Goes PublicThose that joined the crypto space a few years ago may remember the first puzzle they faced.
Where should I buy cryptocurrencies? Hacks, scams, downtimes, and poor user experience were a real pain. Those that recently started their crypto-journey don't have as much to worry about. Prominent players gained a solid reputation for offering safe and easy options.
Coinbase is undoubtedly one of them, and yesterday they offered cryptocurrencies a privileged spotlight when they got listed on the NASDAQ, a US stock exchange. Crypto officially meets Wallstreet .
In 2020, Institutional investors made news announcing their interest in cryptocurrencies, and now the traditional financial market values one of the main crypto-players at $100 billion. At such a high valuation, the total market capitalization of all cryptocurrencies (Bitcoin included!) all of a sudden seems cheap.
Looking at the chart of the total crypto market, it's clear how things are heating up. Prices have been rising steadily since March 2020 on growing volume. The smaller channel, starting from February, now looks like a consolidation after the sharp gains in January that led valuations to double.
A new breakout here would signal a new wave of likely stronger FOMO. But watch out to manage your risk and gradually take profit on the way up. The faster is the growth, the more the downside risk will increase!
VeChain $VETUSD Long Term Target PTs .35-1 and higherEnterprise-level partnerships send VeChain (VET) price to new highs
Real-world use cases and enterprise-level partnerships are just a few factors behind VeChain’s recent breakout to a new all-time high.
Real-world partnerships and integrations into thriving industries are some of the best forms of validation for blockchain projects that are seeking long-term sustainability and widespread adoption. They also have the ability to spark rallies that trigger long-term price appreciation as brand awareness spreads.
Since February enterprise-level adoption and a wide array of use cases have worked in favor of VeChain (VET), a blockchain-powered supply chain platform that seeks to use distributed governance and Internet of Things (IoT) technology to optimize supply chain management systems.
Data from Cointelegraph Markets and TradingView shows that the price of VET has increased more than 400% over the past two months, climbing from a low of $0.0263 on Feb. 8 to a new record high at $0.1344 on April 9
Major collaborations ignite VeChain price
A scroll through the project’s Twitter feed shows that VET's price growth in 2021 has largely been stimulated by the adoption of its supply chain tracking technology. On April 8 the team announced a collaboration with the software company Salesforce.
VeChain’s technology has also been utilized on several projects that are managed by its partner DNV. DNV uses VeChain's blockchain solution to manage the data from projects with the Danish company ReSea and the Norwegian industrial company Hydro.
The increase in VET price and adoption since the beginning of February has also led to a 1,000% increase in the price of VeThor Token (VTHO), which is used to pay for transactions and smart contract interactions on the network.
An early March NFT-related collaboration with VIMworld also helped bring extra attention to VET and VTHO and was followed by a steady increase in price.
The positive benefits of these partnerships were reflected in data from Cointelegraph Markets Pro, which shows that the market conditions for VET have been favorable for some time.
The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.
As seen in the chart above, the VORTECS™ Score for VET turned bullish and reached a high of 73 on April 3, about two days before a smaller price spike on April 5. Following this move, the VORTECS™ Score increased to a high of 87 and remained in the green zone over the next three days as VET price gaine 35%.
Now that institutional investors now taking a serious interest in the crypto sector and the ways that blockchain technology can be integrated into various sectors, VeChain’s real-world use cases and growing list of enterprise-level partners indicate that there is potential for further upside.
Binance Coin $BNBUSDT PT 700 and higher Binance Coin’s Surge Elevates Token to Ranks of Crypto Titans
Binance Coin has strengthened its position as one of the world’s largest cryptocurrencies after an 18% rally in the past 24 hours knocked back its rivals for the third spot behind Bitcoin and Ether.
Issued by the world’s largest crypto exchange, the digital coin commonly known as BNB now has a market capitalization of $89.4 billion, according to CoinMarketCap.com. That makes it the third-most valuable cryptocurrency behind Bitcoin at $1.1 trillion and Ether at $246 billion. The token has traded places with Tether and other coins for weeks, underscoring BNB’s increasing importance in the crypto ecosystem.
Coinbase Global Inc.’s public debut this week is one reason for the recent jump. Digital coins of other cryptocurrency exchanges have been on a tear as well, with coin of exchange Uniswap up 12% in the past 24 hours, and the token of FTX exchange up nearly 6%. Coinbase, the largest U.S. crypto exchange, will be the first major cryptocurrency company go to public with an estimated valuation of about $100 billion.
Dogecoin $DOGEUSD PT .15 and higher later...$DOGE moved more than $1 billion in trades within 24 hours...
🚀Is this April Fools' Day?If I told you that the real Altseason is not even started, the first thing that would cross your mind would definitely be, "that must be an April fool!" .
This idea is quite fascinating, as already many coins on the market trade at all-time high value during this Bull Market. It's hard to imagine that most of the upside is still ahead of us. Yet, if the picture that this chart depicts unfold to be accurate, Altcoins could have a lot to run in the coming months.
According to Bitcoin's dominance, the Altcoin market looks still undervalued compared to Bitcoin. Add now that April is historically a positive month for crypto to the equation, and the result may be explosive.
There are at least two elements that could provide solid support to this thesis. Bitcoin rebounded strongly from the recent drops, and it's now trading just below a key resistance that, if broken, would push it straight into new price discovery. On top of that, some large-cap coins still have plenty of room to catch up with Bitcoin. See Ethereum, Zcash, and Litecoin, among the most notable cases.
If you took some profits recently, that was a reasonable choice that led you to have the liquidity to accumulate those coins that didn't pump yet. These coins will likely outperform Bitcoin in the short term, allowing you to compound more Bitcoin in the future. As long as Bitcoin's dominance remains below 60, buying the dip strategies offers the best risk-reward profile. But never forget to manage your risk.
It's April's fool week, after all!
SOS bullish pennant formation Bullish pennant formation complete on SOS ltd. Buy above $7.00, price target of the pattern is $30.55
Bitcoin Makes Yearly Highs: Where to Next?Starting on the 19th of October, Bitcoin became increasingly bullish, rising in momentum before peaking out around $13,200. The coin is momentarily consolidating between $12,700-$12,800, and appears unable to push higher.
The $12,000 Level
BTC broke the critical resistance at $12,100, which was the highest resistance level of 2020 so far. This breakout is crucial, as Bitcoin has attempted a breakthrough at this level four times since August, with no success. The last time this level was broken was one year ago when Bitcoin had an astonishing rally of more than 250%. This level also acted as an important support during Bitcoin’s strongest bull-run in December 2017.
Where to Next?
The current resistance level stands around $13,000-$13,200 (this is where the recent rally stopped). This level was only briefly tested during last year’s rally. Therefore it should not be particularly solid, and BTC will probably have an easier time achieving a breakthrough.
The next resistance level stands at $14,000. This resistance stands at the peak of the summer 2019 bull run. Breaking this level will mean that we are in the strongest uptrending market since December 2017, and we have a chance to make all-time highs.
We might face a small correction before the bull market continues. If that’s the case, then we can expect BTC to retrace back to $12,000. If the $12,000 level breaks, we could see a retracement to $11,000 or even $9,800. However, judging by the strength of the bullish momentum, it is unlikely that Bitcoin will drop below $12,000 in the near future.
Note: It is not recommended to use the 3-Day chart when doing your analysis or trading. We have used it solely to provide a better visual representation of Bitcoin’s price.
Down She Goes!!! (BTC)This is going to be a massive/fast move down. All the moon boys will panic because they have been primed for a $100 000 coin by their favorite YouTubers.
Also, I'm expecting the CME Futures gap at around $9700 - $9800 to fill.
A second gap fill in the low 6000's ??? (BTC)This would make complete sense with a rising DXY and a financial market pullback. I'm not saying this is going to happen but to me, it seems very possible and if we do get a break in market structure it will become probable IMO and I will be playing this to the downside.
I'm still not sold on this being the bull market yet I have been saying this since March 2019.
ETH/USD - big BULL momentum to $800I think everyone sees this picture perfect monthly double bottom, momentum is bull but Ethereum could possibly consolidate into a bull flag until end of November before confirming the monthly double bottom. A consolidation matches up with big boys vs smaller alt coins (look at my previous VET call). This could propel us towards $800. For risk management purposes, first TP area is $550. I personally wont be taking profits as I got in at a good price at $245 and Ethereum is one of the best long term holds. But I will be keeping an eye on price action and alt coin marketcap to see if this bull season is actually here before I keep my bags.
Not your financial advisor nor a professional trader. Trade at your own risk.
