A recent surge in the price of BTC is sparking hope for that final impulse wave UP I've been talking about. However, there's a catch - one KEY thing will need to happen in order to convince me this is not just a fakeout, aimed at liquidating shorts. The previous BTC update was focused on two scenarios, with the GREEN showing a possibility of...
Bitcoin hasn't yet been able to break out above the diagonal resistance that formed after the most recent high. Until we're able to do a bump-and-run ABOVE this trendline, lower lows seem the most likely until we've found a zone with sufficient buying pressure to take us back upwards. Lower lows and lower highs mean short term bearish, unfortunately. I discuss...
MANTRA has increased over 4900% this year alone - and one indicator called it early. When trying to look at upper targets during price discovery, the Fibonacci extension comes in useful. When trying to gauge potential bounce points, the trendline can be used as a basepoint for support. There's another hot altcoin on the block - TAO. Make sure you don't miss...
TAO is a hot new altcoin 🔥 If the market cap of TAO doubles, the price would increase to approximately $1,111. This puts us around opening prices, and at the top of the FIB retracement level. TAO's market cap as of now is $4.10B, doubling would bring it to $8.2B. In comparison, Ethereum’s market cap is well over $290B and Cardano is just over $12B. 24-hour...
BONK has increased 14% and 15% respectively over the past few days. However, as we're looking at the 4h timeframe buying pressure seems to be running out after the increase that was likely incentivized by the BTC bump. Some argue that Bitcoin increased because Elon musk joined Trump at the rally - but honestly, it's just another day in crypto 😉 From a 4h...
Although Litecoin did not make the Top Altcoins for 2024 list - it is an old timer. And by this, I basically mean that it can (and will) still be traded. From the 4h, we see some beautiful swings that can be very profitable trades, with the right entry points. It seems the entire market is turning down following BTC. This however, could result in some good...
Historically , large wicks usually get filled almost in the same way that a gap gets filled. It may not be soon, but if you're willing to wait a few weeks (or even a few months) you could get in lower and buy at a more ideal price. (see Warren Buffet's trading philosophy on Buying at the RIGHT PRICE👇) The particular wick in reference is the following one....
Warren Buffett is arguably one of the most successful investors of all time. Over the years, he has developed a set of principles and strategies over his career. He was inspired by the teachings of key financial thinkers like Phil Fisher, Benjamin Graham and Charlie Munger. Key Influences Phil Fisher Fisher’s approach focusses on quality companies with...
In the weekly timeframe, a bullish candlestick pattern has formed on Chainlink. The Three White Soldiers are characterized by three consecutive green candles. The higher the timeframe, the more powerful the pattern. We've recently observed an instance of the TWS pattern in the weekly, which was a precursor to a 136% increase: However, the unfilled wick around...
From a macro analysis, ETH is very clearly in a bullish season. Apart from the obvious (following Bitcoin) there are a few other factors from which we can deduce that ETH is gearing up for another impulse wave UP. 👉 Higher lows 👉 Diagonal trendline acts as macro timeframe support 👉 Currently Three-White-Soldiers in the weekly - Bullish candlestick pattern From...
Dogecoin has been one of my top altcoins to watch for 2024, and it's likely going to be a key player in the parabolic runs during the next impulse wave UP. If you've been following for a while, you'll know I've been anticipating impulse wave 4-5 around December ( according to Elliot Wave Theory). Across many altcoin charts, we see very clear bottoms as the prices...
In many ways, ADA reminds of XRP. And that's not a compliment... Big promises, cult following, failure to reclaim previous highs etc. Either way - ADA can and will still be traded, and profits can be made. However, another worrisome thought is that (like XRP) many bagholders may be waiting to sell around every corner. This causes extremely tough resistance...
Bitcoin has been giving us some positive vibes as buying pressure shows up on lower timeframes. We've even managed to keep the price above $60k - an excellent sign of strength. However, before considering more upside there really is just ONE thing we need to see - higher lows. For as long as we are unable to breakout ABOVE the diagonal resistance zone, we'll...
There's a few reasons to be bullish on FETCH right now: 👉 Bullish pattern in the daily timeframe; inverse Head and Shoulders 👉 Daily TF price is trading ABOVE 200 day moving averages - bullish technical indicator 👉 Support zone retested and held 👉 Great pick for TOP AI Coins 2024 I'd be watching the Fibonacci zones as potential targets for the next impulse wave...
In a previous analysis, I discussed the relationship between Bitcoin, the Altcoin market and Bitcoin Dominance. An important rotation exists between these three; and by using TOTAL3 together with BTC.D, you can get a clearer picture of where BTC is trading in the current cycle. In this video, I make an important suggestion based off Elliot Wave Theory. This...
A downtrend, or bearish trend is characterized by a few things including making lower lows and lower highs. This is evidently seen when pulling up the macro timeframe and applying trendlines towards major bounce zones or wicks. Similarly, an uptrend is characterized by the price making higher lows, and higher highs. Currently, we are only seeing ONE of these...
Recently I did a post on Altcoins that are good BUYS. Find it here 👇 Let's look at three alts that are BEARISH in lower timeframes, and very likely heading lower for the SHORT term: 1) JTO BINANCE:JTOUSDT 2) MKR BINANCE:MKRUSDT 3) TON BINANCE:TONUSDT _____________________________________
Elliot Wave Theory is an absolute favorite of mine, combined with Wyckoff Method and chart analysis (trendlines and technical indicators). If you've been following; you'll know I've been speaking of a multi-month cycle, specifically a multi month corrective wave before the final impulse wave up (4-5). Considering we're still in that corrective phase, let's take a...