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Cryptopickk

BTC Dominance: Alt Season Coming!Hello friends, today you can review the technical analysis on a 1W linear scale line chart for the Bitcoin Dominance. I generally look at candlestick charts, but for presentation purposes, a line chart is used. 1) The BTC Dominance has been respecting a Parallel Channel since the May 2021 crypto market correction. 2) Also there is a Bear Flag Pattern that has formed in the charts. This pattern's target is usually the length of the flag staff. 3) Since the RSI (relative strength index) recently broke a key support line, it may go back up to re-test the trendline before falling further. 4) With the potential increase in RSI, the Bitcoin Dominance may go up as well before a drop down. 5) If the Bitcoin Dominance falls to the target, it could result in potentially the biggest Altcoin Season. 6) If Bitcoin Dominance breakout above the Parallel Channel, it could invalidate this idea. 7) This is a weekly chart so don't expect anything to happen quickly. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. As the year is coming to an end and holidays are almost here. I want to wish my friends Happy Holidays and ready for an exciting 2022! What are your thoughts for the coming year? Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
CRYPTOCAP:BTC.D
by MillionaireEconomics
4
BTC Bitcoin: Price UpdateHello friends, today you can review the technical analysis on a 4H linear scale chart for Bitcoin (BTCUSD), a cryptocurrency. Quick Analysis: 1) Though price has been falling over the past few days, it is important to note that there are two important support trendlines noted in the charts to stay above. There is also a resistance trendline which has been holding the price down. If price can get above that, there may be an impulsive move upwards. 2) Volume is consistent but low. 3) If price continues to fall, keep an eye on the danger zones on the chart as well as the support trendlines. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
BITFINEX:BTCUSD
by MillionaireEconomics
6
SHIB Shiba Inu: Staying Above The Support LineHello friends, today you can review the technical analysis on a 4H linear scale chart for Shiba Inu (SHIBUSD), a cryptocurrency. Quick Analysis: 1) The price is supported by a multi-month trendline. 2) Recently the price broke out of a Falling Wedge Pattern and is currently moving upwards. 3) The price is headed into a heavily traded area as shown by the VPVR. 4) Volume is still low. 5) RSI (relative strength index) has room for growth. It recently completed a Double Bottom Pattern and is headed higher. 6) Please review the chart in detail as many of the analysis points are already shown on the chart. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
by MillionaireEconomics
3
ETH Ethereum: 100% growth from hereHello friends, today you can review the technical analysis on linear scale charts for Ethereum ( ETHUSD ), a cryptocurrency. Quick Analysis: 1) The left two charts are showing a 2017-2018 and 2021 Ethereum chart with similar timeframes. The 2017-2018 chart shows a dip in the price followed up by consolidation before a blow off top. The same fractal seems to be in play with the current (2021) price. The analysis in the 2021 chart on the left shows the assumption that the fractal playing out within the timeframe and price increase similar to 2017. This would mean around December 25, 2021 - December 27, 2021, Ethereum could have a blow off top of $8,500-$8,600. 2) On the right chart shows the Ethereum price on a weekly timeframe showing the price going back to 2017. A Fibonacci Extension analysis was completed showing the 1.618 (Golden Ratio) at $7,908. This may be an area where traders could take profits. It may be possible to still reach the $8,500-$8,600 range with a wick. 3) Though this is just an idea, it may be worth keeping an eye on this if price continues to move in line with the 2017 fractal. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:ETHUSD
by MillionaireEconomics
4
DNA Ginkgo Bioworks: H&S Possible?Quick Analysis on Ginkgo Bioworks Holdings, Inc. (DNA) on a 4H Linear Chart. This is an Ark Invest (Cathie Wood) portfolio name. 1) The stock price for DNA looks to be potentially forming a Head and Shoulders Pattern with the current Right Shoulder formation in process. 2) The Right Shoulder price target would be around $12-$12.25 using the Volume Profile (VPVR) where there is a cluster of tradable volume. 3) The RSI (relative strength index) has room to still go up to help the price increase. 4) The Volume recently came in. 5) If prices goes back down to the bottom trendline with Sell Volume support, the Head and Shoulders Pattern could be confirmed. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
NYSE:DNA
by MillionaireEconomics
3
DOT Polkadot: Next Leg Up PossibleQuick Analysis on Polkadot ( DOTUSD ) on a 1D Linear Chart: 1) An Arc line has been drawn for Polkadot as the price has been moving up the Arc. 2) From the first top price of about $51 to the next top price of about $55, there was an estimated 10% price increase. The estimated new All Time High for the price, assuming a 10% increase, would be around $61-$62. 3) The RSI (relative strength index) has the potential to go back up as it is currently hovering in the oversold region and with a possible double bottom pattern, it could move up quickly. 4) The Volume is heavy. 5) After this move upwards, the price may have the potential to go Parabolic! What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
KRAKEN:DOTUSD
by MillionaireEconomics
10
#ALGO Algorand 1D - Bearish Divergence in sightI am looking at the 1D chart for Algorand. I show the top and bottom multi-year trendlines and it seems that we may have some downside to go possibly based on historical trends. I showed a possible fractal from the past that may play out again. Lastly and most important, on the daily chart there is bearish divergence. This may be a good indicator of what's to come in the future. What are your opinions on this? Comment below, hit the like and follow me. Thank you! Check out more below for recent Altcoin, Bitcoin and Stock Ideas. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk #bitcoin #altcoins
COINBASE:ALGOUSDShort
by MillionaireEconomics
4
LINK Chainlink: Check Up On The 1DHello friends, as many of you know, I enjoy writing an in-depth analysis along with my chart. Though I want to do that with every chart I show, I don't have the chance to show more charts as it takes time writing out the analysis. So moving forward, you will see me mix up the charts with in-depth analysis as well as short analysis. I hope you understand and continue to like and comment on the content provided. Thank you! Quick Analysis on Chainlink (LINKUSD) on a 1D Linear Chart: 1) I shows a multi-month trendline from March 2020 which has supported the Chainlink price. 2) Recently, a Double Top Pattern (bearish) was formed with a strong bounce moving up. This may get invalidated if the price continues upwards or consolidates slowly upwards. 3) On a multi-month scale, a Head and Shoulders Pattern is in sight and we need to be careful as this is a very bearish pattern. 4) The Volume is healthy. 5) The price got a strong push up from the support trendline right after the crypto crash showing that the price doesn't want to fall below the trendline. 6) It is very important that Chainlink remains above the support trendline, otherwise it could get really bad very quickly. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:LINKUSD
by MillionaireEconomics
7
ETH Ethereum: Key Support LineHello friends, today you can review the technical analysis on the 4H (hourly) linear scale chart for Ethereum ( ETHUSD ), a cryptocurrency. #CryptoPickk noted in the chart: 1) There is a multi-month trendline which the Ethereum price has come close to touching or has bounced off. 2) When the trendline was formed, the price was below it and it was serving as resistance, however since January 2021, the line has been serving it as support (except for the summer 2021 crypto crash). 3) This trendline is extremely important to hold and during the most recent crypto crash, it almost touched this line. 4) Also shown in the chart is the VPVR (Visible Range) where the highest amounts of trades are sitting. Currently the price is stilling above a volatile area shown in the rectangular white color box. 5) One key observation is the Volume is not strong since summer 2021. In order to get the Ethereum price to meet new highs, the Volume needs to come in. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
BITFINEX:ETHUSD
by MillionaireEconomics
7
BTC Bitcoin: How Easy Is $100K?Hello friends, today you can review the technical analysis on the 4H (hourly) linear scale chart for Bitcoin ( BTCUSD ), a cryptocurrency. #CryptoPickk noted in the chart: 1) One of the top questions is when can we get to $100K for Bitcoin? 2) The price recently fell due to a crypto market crash but has rebounded. 3) A key area of resistance is around the $53.7K-$54K. Price NEEDS to hold above this price range to move ahead. 4) A Fibonacci Extension from the recent high point to low point is shown with the extensions going to 3.618 Fib level, which is right at the $100K area. 5) The Volume is still low and it is necessary to increase to help the price to $100K. 6) Ichimoku Cloud in red hovering above the price. This is very important to move above the Cloud as the Cloud will serve as resistance. 7) The Volume Profile (VPVR) shows where the buy/sell trades are sitting and there is significantly volume in the $56K-58K region. The price needs to overtake this region, then there is potential to see a faster move up. 8) The RSI (relative strength index) has two resistance lines which are shown in the chart. The first resistance line may help the price get above a certain point and the second one may help it reach the $100K. RSI levels in the 80s to 90s has been seen with BTC. 9) It's not an easy journey for the Bitcoin price to reach $100K, but it is surely possible with these factors noted above as well as many other economical and market structure factors. 10) I am not sharing hopium, but rather a chance to see what it will take for BTC price to get to $100K. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
BITFINEX:BTCUSD
by MillionaireEconomics
18
CUBE Somnium Space Cubes Upside Coming?Hello friends, today you can review the technical analysis on the 4H linear scale chart for Somnium Space Cubes ( CUBEUSD ), an altcoin cryptocurrency. #CryptoPickk noted in the chart: 1) The Somnium Space Cubes price has been in a Triangle Pattern since early November 2021. The price broken down from the Triangle during the recent crypto crash, but with a Double Bottom pattern, the price is making an attempting to get back into the triangle and move upwards. 2) There is also a Rising Broadening Wedge Pattern also noted with the red line forming within the triangle pattern. 3) Taking the Fibonacci Extension from the last high to the last low, the 1.618 level (Golden Ratio) is at $27-$28, which would be the estimated target price. 4) There are two checkpoint areas where a re-test may need to occur around the 0.5 Fib Level at $17.50-$18 and another one around the 0.786 Fib Level at $20-$20.25. Having a re-test of the triangle will help strengthen the price movement upwards. 5) The RSI ( relative strength index ) has a resistance trendline (in orange color) which it may need to break for a nice pump upwards. 6) The Volume is picking up but still low, so if a pump may be coming, keep an eye on the Volume. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
GEMINI:CUBEUSD
by MillionaireEconomics
2
ETH Ethereum - Target For UpsideHello friends, today you can review the technical analysis on the 1D (daily) log scale chart for Ethereum ( ETHUSD ), an altcoin cryptocurrency. When reviewing this chart, keep in mind it is on a macro perspective and not looking at the day to day activity. #CryptoPickk noted in the chart: 1) The Ethereum price has been in a Parallel Channel since the end of 2019 with the price being supported on the bottom and top trendlines. On a macro perspective, the Ethereum price has been moving up a Rising Wedge Pattern (in yellow color) since inception. The price is at the breakout point of the Rising Wedge and at the bottom trendline of the Parallel Channel, so there may be a potential for a break out of the Rising Wedge Pattern in the near term. This would only be considered if Volume comes through. 2) Assuming the Volume comes in and price moves up, the target price is estimated around $16K. This was determined using Fibonacci Extension levels showing the previous Bull Market where the price met the 3.618 Fib level before retracing back down. Assuming that happens again at the 3.618 Fib level, the price would reach a target of around $16,000. 3) Interestingly at $16K range, the price would be above the Parallel Channel Median Line and it may go even higher if it consolidates above the Median Line for a period of time to reach the top of the Parallel Channel. 4) From the BTC upside analysis completed (shown in the idea section below), the estimated timeframe of BTC to hit the All Time High is in March 2022, so assuming Ethereum follows the same trend of 2017-2018, Ethereum would reach an all time high in April 2022. This is shown on the chart. 5) The chart and analysis is based on historical data trends and the price of Ethereum does not need to follow that. It is extremely important to keep a close eye on Bitcoin, economic markets and the financial markets. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:ETHUSD
by MillionaireEconomics
3
LUNA Terra 1D ChartHello friends, today I am completing a technical analysis on the 1D linear scale chart for Terra ( LUNAUSD ), an altcoin cryptocurrency. Please review the chart and analysis below carefully as there are many trendlines and indicators. #CryptoPickk notes the following: 1) Terra price has been exploding and took no consideration for the recent crypto market crash, however as anything goes up fast, it goes down just as fast. That's a life rule if you are not aware. 2) If Terra price retraces downwards assuming the price comes back down to the wick, it could retrace back down to the 0.786 Fibonacci Retracement level at around $10-$11. 3) The 0.786 level has been an altcoin retracement level for many crypto altcoin. 4) This would also be supported by a multi-month trendline which is around the $10-$11 range (in yellow color). 5) The RSI (relative strength index) and Stochastic RSI (Stoch RSI) are coming out of the overbought region and have potential to get down to the oversold region with a drastic price drop. 6) Terra has moved up very quickly over the past week and it may not be sustainable without proper consolidation so be cautious. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
L
by MillionaireEconomics
DOGE Dogecoin: Concerning DownsideHello friends, today I am completing a technical analysis on the 1D linear scale chart for Dogecoin ( DOGEUSD ), an altcoin cryptocurrency. Please review the chart and analysis below carefully as there are many trendlines and indicators. #CryptoPickk notes the following: 1) Dogecoin price had an all time high in May 2021 and since that point, the price has only came down. 2) Recently due to the #cryptocrash, the price dropped significantly breaking a multi-month bottom trendline (in yellow color). 3) What's the concerning issue is the price came back up and re-tested the bottom trendline and since that point, Dogecoin price started falling. This is outlined by the white color path arrow. 4) Using the Fibonacci Retracement tool, the price has the potential to test the 0.786 level before moving back up. This would be a 65-70% drop from current price levels. 5) The Volume Profile (VPVR) is very heavy in that area (0.786 Fib level) as well. 6) The Volume is low. I am using a Bittrex Exchange chart but I checked Coinbase and Kraken and it is low there. 7) The RSI (relative strength index) and Stochastic RSI (Stoch RSI) are in the oversold area. Since both are oversold, the price may consolidate or go up short-term, but price has potential to drop significantly further. Stay a bit cautious as the economy and markets are fragile right now. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
BITTREX:DOGEUSD
by MillionaireEconomics
3
GRT The Graph: Downside SupportHello friends, today I am completing a technical analysis on the 1D linear scale chart for The Graph ( GRTUSD ), an altcoin cryptocurrency. Please review the chart and analysis below carefully as there are many trendlines. #CryptoPickk notes the following: 1) The Graph price had an all time high in February 2021 and since that point, the price has only came down. 2) Recently due to the #cryptocrash, the price dropped significantly breaking a multi-month bottom trendline (in yellow color). 3) A Trend-Based Fibonacci Retracement is shown with two areas to note - 0.236 and 0.382 level ($0.34-$0.45 area) 4) Both of these area are also support areas shown in the green color lines. 5) The Volume Profile (VPVR) is also heavy around these two areas. 6) The RSI (relative strength index) is about to touch the oversold region and the Stochastic RSI (Stoch RSI) is in the oversold region). 7) There may be a point of consolidation or short-term price increase before prices may come down further. Stay a bit cautious as the economy and market are fragile right now. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:GRTUSD
by MillionaireEconomics
ADA Cardano: Downside Support AreasHello friends, today I am completing a technical analysis on the 1D linear scale chart for Cardano ( ADAUSD ), an altcoin cryptocurrency. Please review the chart and analysis below carefully as there are many trendlines. #CryptoPickk notes the following: 1) The Cardano price has been falling since reaching an all time high in September 2021. 2) Due to the weakness in the crypto and financial markets, Cardano price recently saw a major drop on top of the existing drop it was experiencing. The price may fall further so keep an eye on the support lines noted. 3) A Trend-Based Fibonacci Retracement is shown with the Support 3 line in the same area as the 0.382 fib level. 4) This is also in the same area as the multi-month bottom support trendline. 5) Cardano price has potential to regain momentum if it breaks outside of the resistance line shown on the chart. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
KRAKEN:ADAUSD
by MillionaireEconomics
BTC ETH LTC: Dead Catch Bounce ScenarioHello friends, today you can review the 1H charts for Bitcoin (BTCUSD), Ethereum (ETHUSD) and Litecoin (LTCUSD). #CryptoPickk notes the following: 1) As the entire crypto market fell drastically, the potential for a move upwards is very possible. In these scenarios, a Dead Cat Bounce Pattern is very possible. 2) For anyone that doesn't know what a Dead Cat Bounce it, please refer to the Investopedia article for further details: www.investopedia.com . 3) Using the Fibonacci Extension, taking the price from the drop start point to the drop end point, the 0.618 - 0.786 levels may be potentials for where the Dead Cat Bounce may happen and the price drops further from that point. 4) Remember one thing that has helped in trading: When a wick happens, the candle body close is surely to follow. Not financial advice of course. Do your own research. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:BTCUSD
by MillionaireEconomics
8
GBTC and ETHE - What Will Monday Look Like?Hello friends, today you can review the technical analysis on the 1W chart for Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE). 1) Both GBTC and ETHE are heavily invested into the crypto markets through Grayscale. 2) With the crypto market correction, prices of both GBTC and ETHE may fall as well. 3) Both charts show the Fibonacci Retracement from the beginning of the this crypto bull cycle to current prices. 4) Since Bitcoin was down about 20-25%, CryptoPickk assumed a 20% decrease. This may be completely off as GBTC and ETHE has been affected harder when crypto markets are down. It is difficult to catch a falling price so it's pretty to start somewhere and plan based on where it goes. 5) If prices keep falling, keep an eye on the 0.382 fib level as this has been a target where prices start to move back up. It's not the time to get completely negative on the markets, but it is a time to start thinking about what to do next. Be cautious. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
E
by MillionaireEconomics
2
MSTR and COIN: What Will Monday Look Like?Hello friends, today you can review the technical analysis on the 1D chart for Microstrategy (MSTR) and Coinbase (COIN). 1) Coinbase and Microstrategy are both public companies that are intertwined in the cryptocurrency markets. 2) With the sizable drop in the crypto markets, the price of Coinbase and Microstrategy will be affected when the market opens. 3) CryptoPickk shows a possible price target for where the price may go to for both Coinbase and Microstrategy. 4) A Trend-based Fibonacci Retracement is shown for both stocks. 5) Coinbase price may be supported around the 0.382 fib level around $200-$205. 6) Microstrategy price may be supported around the 0.382-0.236 fib level around $450-$500. 7) As traders know, it is very hard to catch a falling price so just be careful when buying the dip. 8) Both stocks price target ranges are shown in a yellow color rectangular box. It's not the time to get completely negative on the markets, but it is a time to start thinking about what to do next. Be cautious. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
NASDAQ:MSTR
by MillionaireEconomics
FTM Fantom: Is A Major Correction Coming?Hello friends, today I am completing a technical analysis on the 4H linear scale chart for Fantom ( FTMUSD ), an altcoin cryptocurrency. Please review the chart and analysis below carefully as there are many trendlines and indicators noted. #CryptoPickk notes the following: 1) Fantom price has had a major run in 2021 with the price reaching an all time high in October 2021. The price has corrected since that point. 2) The price recently completed a Head and Shoulders Pattern with a potential break down possible from this point. 3) The measured move of the Head and Shoulders Pattern brings the price down to $1.25-$1.30 which is a 37%-38% correction from current price levels. 4) If the price makes it down to the $1.25-$1.30 level, it would re-test a multi-month trendline (in yellow color). 5) That price target around $1.25-$1.30 has had multiple months of support as shown in the purple color rectangle box. 6) The Volume has been weakening month over month. 7) The RSI (relative strength index) has the ability to drop further as shown on the chart. 8) If the price rebounds up from the Head and Shoulders Pattern, the idea would be invalidated. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
GEMINI:FTMUSD
by MillionaireEconomics
9
SNX Synthetix: HUGE Head & ShouldersHello friends, today I am completing a technical analysis on the 1D linear scale chart for Synthetix ( SNXUSD ), an altcoin cryptocurrency. #CryptoPickk notes the following: 1) Synthetix price has been falling since February 2021 when it met the all time high. 2) The price is around a crucial Fibonacci Retracement level of 0.786 at around $6.85-$7.00. 3) Along with the price dropping, it has formed a Head and Shoulders Pattern as shown in the chart. This is a bearish pattern. The biggest concern is the Head and Shoulders Pattern can be seen in multiple timeframes and the price has shown no level of reversal. 4) If the price breaks down and does not recover, there may be a sizable drop. 5) Though the charts show one thing, anything is possible as the Decentralized Finance space in cryptocurrencies is very strong. 6) Be cautious until there is a clear sign of where the price action will go. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:SNXUSD
by MillionaireEconomics
4
MATIC Polygon: Catch The Re-testHello friends, today I am completing a technical analysis on the 4H linear scale chart for Polygon ( MATICUSD ), an altcoin cryptocurrency. Please review the chart and analysis below carefully as there are many trendlines and indicators noted. Congrats to everyone that caught Polygon on it's recent pump! #CryptoPickk notes the following: 1) Polygon price has been in a multi-month triangle (in cyan color), which is almost at the apex. 2) Most recently since the end of October 2021, the price has been moving in a descending channel (in red color), which it broke out. The breakout also brought the price to the top trendline of the triangle pattern as well. The price is also supported by another trendline (in green color). 3) In most cases, when price moves up this fast, it goes back for a re-test of the pattern before breaking out further upwards. The descending channel re-test may be possible which is outlined in the square box (in white color). 4) The Fibonacci Retracement at 0.786 level may be a place where the re-test may occur (above or below slightly as well). 5) The price is above the Ichimoku Cloud which is currently green (bullish) but has a hint of red (bearish). 6) The RSI (relative strength index), Stochastic RSI (Stoch RSI), MACD, Money Flow Index (MFI) and Fear and Greed Indicator are all in or near the overbought region. This may show some signs of price correction to help the indicators cool down. 7) The Volume is strong. 8) The Volume Profile (VPVR) is showing support and resistance at the re-test area as well. 9) If the price re-tests within the square box, the price has potential to move up about 25% to the 1.618 Fibonacci Extension level at $2.46-$2.50 range. 10) MATICUSD is looking very bullish for December. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
MLong
by MillionaireEconomics
11
LTC Litecoin: Re-test of Support LinesHello friends, today I am completing a technical analysis on the 1D linear scale chart for Litecoin ( LTCUSD ), an altcoin cryptocurrency. Please review the chart and analysis below carefully as there are many trendlines and indicators noted. #CryptoPickk notes the following: 1) The Litecoin price has been falling since the all time high in May 2021. The price has also ranged in a triangle pattern since that point. 2) The Litecoin price has been supported by two bottom trendlines as shown by the yellow colors. The price has the potential to re-test the first support trendline which would bring the price to around $177-$180. If this does not hold, the price will have the support of a multi-month trendline which it could re-test around $130-$135. If price breaks below the bottom support trendline, a bigger drop is possible. 3) The first support trendline is also the 0.236 Fibonacci Retracement level where the price generally has reverse potential. 4) The RSI (relative strength index) is supported by a bottom trendline which it has been bouncing off of. If this breaks, the price has potential to drop. 5) The Volume has been consistent so expect volatility. What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:LTCUSD
by MillionaireEconomics
6