CryptoBullet
BTC Dominance update
Important BTC Dominance update
Last update was long ago relatively speaking - on February 25th
Dominance had been moving inside of the upward channel
And at the time of that update BTC.D hit the bottom of the channel which was in line with EMA100. I was calling for a return to 70% dominance and it happened exactly like that. We approached 70% BTC dominance on a wick late May. Since then we’ve been seeing an Altcoin party
❓The question is how long will it last?
The thing is I do not see anything bullish on this chart (which is good for alts)
The channel got broken to the downside late May, and what’s more important at this stage is that we finally broke EMA100 down!
📍Last week was the first week that we fully opened and closed below EMA100 since June 2019
I believe this is significant for alts as many of them are printing bullish patterns
📌Here is something interesting. Let’s compare August 2018-June 2019 to January 2020-July 2020 and mirror January 2020-July 2020 properly so that the EMA100 is in the same place and has the same direction
We see that the structure looks pretty similar: we had 3 drives into the EMA100, on the third one we broke above it. And now focus on that small piece of the chart where we break above EMA100
💡The current picture looks very similar to what we had in May 2019 (that’s exactly when BTC took off and alts got completely destroyed), but now on the inverted chart!
Which means that according to that fractal, we are going to see maybe a shakeout back above EMA100 (most likely due to major BTC moves), but then to continue the down trend on BTC Dominance, which means Altcoin party will go on
Last update was long ago relatively speaking - on February 25th
Dominance had been moving inside of the upward channel
And at the time of that update BTC.D hit the bottom of the channel which was in line with EMA100. I was calling for a return to 70% dominance and it happened exactly like that. We approached 70% BTC dominance on a wick late May. Since then we’ve been seeing an Altcoin party
❓The question is how long will it last?
The thing is I do not see anything bullish on this chart (which is good for alts)
The channel got broken to the downside late May, and what’s more important at this stage is that we finally broke EMA100 down!
📍Last week was the first week that we fully opened and closed below EMA100 since June 2019
I believe this is significant for alts as many of them are printing bullish patterns
📌Here is something interesting. Let’s compare August 2018-June 2019 to January 2020-July 2020 and mirror January 2020-July 2020 properly so that the EMA100 is in the same place and has the same direction
We see that the structure looks pretty similar: we had 3 drives into the EMA100, on the third one we broke above it. And now focus on that small piece of the chart where we break above EMA100
💡The current picture looks very similar to what we had in May 2019 (that’s exactly when BTC took off and alts got completely destroyed), but now on the inverted chart!
Which means that according to that fractal, we are going to see maybe a shakeout back above EMA100 (most likely due to major BTC moves), but then to continue the down trend on BTC Dominance, which means Altcoin party will go on
CryptoBullet
XZC vs RLC XZC is printing a picture very similar to RLC before its breakout As well as RLC, XZC has tested its 2.5 year declining trendline for many times with almost identical structure of bounces and rejections. Now XZC is trying to break out again …
🎯XZC hit the second target!
Profit 30%
Profit 30%
CryptoBullet
⚠️ BTC broke out of the channel and now testing the 50-Day MA This is a very important resistance to break through for the bulls
BTC update
So, BTC closed the daily above MA50 yesterday
Today the price has tried to go back below it, but the bulls stepped in and we left a wick below MA50
Need to see the daily close, but things start to look slightly bullish🐂
❗️However the lack of volume is concerning
It would be ideal for the bulls if we close today above yesterday’s high and previous swing high (they are pretty much at the same level)
So, BTC closed the daily above MA50 yesterday
Today the price has tried to go back below it, but the bulls stepped in and we left a wick below MA50
Need to see the daily close, but things start to look slightly bullish🐂
❗️However the lack of volume is concerning
It would be ideal for the bulls if we close today above yesterday’s high and previous swing high (they are pretty much at the same level)
CryptoBullet
Pay attention to QSP/BTC QSP has formed a pretty decent ascending triangle on the daily scale, EMA21 acts as a perfect support. Bullish as long as QSP holding above it 🎯Breakout targets on the chart
🎯QSP all targets hit!
Profit 31% on this free call for you guys
This was a perfect trade!
Profit 31% on this free call for you guys
This was a perfect trade!
CryptoBullet
PHB/BTC looks similar to QSP before a massive breakout Forming a pretty decent ascending triangle, MA100 on 12h acts as a perfect support. As long as PHB holding above it I expect PHB to breakout📈 🎯Breakout targets on the chart
🔥🚀 PHB has taken off!
🎯First target already met for 9% profit!
🎯First target already met for 9% profit!
WAVES/BTC recently tested the resistance again but didn’t manage to sustain the breakout. Another rejection as the result
[ If the resistance gets touched for the third or fourth time, it becomes a level that is going to get eventually overtaken. Yes, it may reject the price again, but the probability of that happening is low ]
📌Golden Cross between EMA50 & EMA200 is present on the daily
💡I do not rule out another curve down (but not lower than the previous one and not lower than the long term MA), but WAVES breaking through the resistance is a matter of time
[ If the resistance gets touched for the third or fourth time, it becomes a level that is going to get eventually overtaken. Yes, it may reject the price again, but the probability of that happening is low ]
📌Golden Cross between EMA50 & EMA200 is present on the daily
💡I do not rule out another curve down (but not lower than the previous one and not lower than the long term MA), but WAVES breaking through the resistance is a matter of time
CryptoBullet
BTC update So, BTC closed the daily above MA50 yesterday Today the price has tried to go back below it, but the bulls stepped in and we left a wick below MA50 Need to see the daily close, but things start to look slightly bullish🐂 ❗️However the lack of…
BTC update
My previous analysis was quite on-point!
Like I mentioned, going above 9450 was a full switch to bullish trades
And look at that: today BTC reached 10.2k! Congratulations to those who followed my analysis!
Good to see some volume finally showing up, but it’s not remarkable yet
🔑 Key level to close above is 10-10.2k. If we do, I expect BTC to go above 11k
My previous analysis was quite on-point!
Like I mentioned, going above 9450 was a full switch to bullish trades
And look at that: today BTC reached 10.2k! Congratulations to those who followed my analysis!
Good to see some volume finally showing up, but it’s not remarkable yet
🔑 Key level to close above is 10-10.2k. If we do, I expect BTC to go above 11k
⚠️Time to be cautious since there is a TD-9 Sell on the Daily BTC chart
📌This indicator has been pretty accurate at calling local tops resulting into 5-20% pullbacks
If we don’t manage to close above the resistance level today, this will look like a perfect top
In addition, there’s a decent gap on CME BTC Futures at 9925-9645 + Funding on BitMEX is pretty high, which incentivises a Long Squeeze
📌This indicator has been pretty accurate at calling local tops resulting into 5-20% pullbacks
If we don’t manage to close above the resistance level today, this will look like a perfect top
In addition, there’s a decent gap on CME BTC Futures at 9925-9645 + Funding on BitMEX is pretty high, which incentivises a Long Squeeze
CryptoBullet
BTC update My previous analysis was quite on-point! Like I mentioned, going above 9450 was a full switch to bullish trades And look at that: today BTC reached 10.2k! Congratulations to those who followed my analysis! Good to see some volume finally showing…
🚀🎯 BTC skyrocketed and reached the target I pointed out yesterday!
Former Resistance is now Support (10050-10200)
Former Resistance is now Support (10050-10200)
CryptoBullet
LTC/BTC update Litecoin broke its critical level of support last week. It was a matter of time, but the fact that LTC didn't bounce one more time off the support proves how week this thing is not only technically, but fundamentally also. ⚠️ TA picture is…
LTC/BTC update
🎯Just wanted to say that LTC reached the downside target I pointed out in September of last year
My price analysis of Litecoin turned out to be quite on-point
🎯Just wanted to say that LTC reached the downside target I pointed out in September of last year
My price analysis of Litecoin turned out to be quite on-point
CryptoBullet
LTC update: post-halving syndrome On Aug. 5 (the day of LTC halving) we mentioned that LTC can have some issues after the halving like in 2015. Right now LTC is playing with dangerous numbers by testing that horizontal level. This picture does not look…
LTC update
Like I said back in December, breakdown of that horizontal line was disastrous for the price
📉 LTC fell down by more than 30% since then
But after the darkest night comes the brightest day☀️
Like I said back in December, breakdown of that horizontal line was disastrous for the price
📉 LTC fell down by more than 30% since then
But after the darkest night comes the brightest day☀️