BTC.D looking to decrease -> Altcoin Run until the end of 2024- Yearly range provided a reversal point with a clean market strcuture shift to the uspide, which price bounced off from to the 50% of the range.
In range trading we call this take profit nr 1.
- Price now usually bounces off a bit from the 50% (which price is currently at) into a FVG (marked in blue) / support level targetting the high of the range.
With the expectation to drop into the fvg, altcoins should witness a push to the upside until the end of the year 2024.
Afterwards we are expecting a rapid upmove of BTC.D to target 2 until the year of 2027, which would result in altcoins bleeding out.
This idea gives us a great confluence with the TOTAL3 chart analysis, which we published before. You should have a look at this as well.
(www.tradingview.com)
Altcoins
POPCATUSDT - Prime Opportunity for a Short Trade?Hey there! We've seen some exciting price action with Popcat recently, but it looks like the party might be cooling down. Let’s explore why now might be the perfect time to consider a short trade targeting the naked Point of Control (nPOC), which aligns beautifully with the Volume Weighted Average Price (VWAP).
Popcat made another impressive surge, taking out its previous high. However, after this breakout, it quickly retraced. The daily time frame has shown its first significant rejection red candle, indicating that the bulls might be running out of steam.
Signs of weakness:
Hovering Below mOpen: This is a clear sign of potential weakness. If the price stays below mOpen, we could see further downside.
Decreasing Volume: Volume is steadily declining, another indicator that the bullish momentum is fading.
If we see continued weakness and further rejection candles on the daily time frame, the next levels of support will come into play.
While Popcat has had an impressive run, the current signs point to a likely retracement. Keeping an eye on key levels and volume will be crucial in navigating the next moves.
What are your thoughts on this update? Are you preparing for the dip or expecting another bounce? Share your insights below!
FTMUSDT Potential DownsidesHey Traders, in today's trading session we are monitoring FTMUSDT for a selling opportunity around 0.67000 zone, FTMUSDT is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.67000 support and resistance area.
Trade safe, Joe.
Cryptocap Crypto Total Market Cap - Idea IHey guys
2023 printed a bullish setup - retest of old high.
-> it also closed above the middle line of the bearish engulfing candle -> second bullish indicator.
-> grey zone and old highs of 2.1T - 3T will be monitored.
-> still somewhat bearish below 3.1
Quarterly: Neutral - Inside bar and retesting middle line of Q1
-> still in bullish territory because it closed above major support…
-> inside Bar will be monitored (range)
Monthly chart: Bearish close -> 3 Months weakness
-> Stochastic turned down - 2.4T and 2T will be the showdown area - grey Box which will act as support or resistance.
-> still in an uptrend indicated by the rising Trendline.
3D: Testing a bullish Trendline - Bullish Setup on this Frame
-> still in a declining trendline / Consolidation
Thanks for reading
Binance Coin - BNB Cryptocap / Idea I hey guys,
Yearly candle: inside bar - indication of possible upmove.
-> targets : 84 and 117 (previous ATHs)
-> levels are crucial for a resumed uptrend to be in place on the yearly chart.
Quarterly: Shooting Star below "showdown zone" - fib extension box from the yearly inside bars range BUT above 85. = Indecision - Balanced market.
-> Stochastic is bullish but reached OB zone.
Monthly: Confirming Quarterly… -Consolidation
-> shooting star with a long wick -> bulls be careful!
-> 80-85B becomes the crucial support area
-> stochastic has turned down
-> bearish setups all together
3D: Consolidation at Showdown spot
-> break will be necessary for a confirmation of Bias
-> Quarterly High and low, Monthly high and low will be visited / reaction will be monitored
Thanks for reading
ETH - Now We Wait!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 ETH has been bearish trading within the falling channel pattern marked in orange.
Currently, ETH is approaching the lower bound of the channel.
Moreover, it is retesting a strong demand zone $3,100 - $3,200.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green demand zone and lower orange trendline acting as a non-horizontal support.
📚 As per my trading style:
As #ETH approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
CryptoCap - ETH / Ethereum - Idea II - Triangle PlayHey guys,
yearly chart: bullish setup with targets around 435 and 577. (recent ATHs on closing base and by wick )
Quarterly: After a strong Q1 gain we see a trading back below 435 printing an inside bar... : bearish setup at a strong resistance level. Range of this quarter will be monitored closely on the 3D chart.
Monthly: 4 Months of weakness - with the last one not being able to reach the highs of the range.
-> Stochastic is turning down after forming a double top
-> Bullish trendline is still intact. It seems to be the last support before the lower high scenario will be in play. - alternatively looking at the triangle: waiting for a break of this structure and a retest
3D: very interesting. we see a consolidation of course - but there might be a fractal in play if you compare the 3D to the monthly chart.
However, I am seeing a bearish setup with an invalidation above 435. - keeping in mind that the yearly is still pointing up so we could easily be going just up from here.
thanks for reading…
POPCATUSDT - Ready for a Correction or Another Surge?Hey crypto enthusiasts! Let’s dive into the latest hot coin on the market: Popcat (POPCAT). With a massive 231% surge in just 8 days, all eyes are on whether this coin is poised for a correction or another leg up. Let's break it down!
Recent Surge: What's Behind the Hype?
Popcat coin has taken the market by storm, surging a staggering 231% in just over a week. But as the saying goes, what goes up must come down—at least for a little while. So, are we looking at a healthy correction, or does Popcat have more room to run?
Volume and Price Action: Signs of a Potential Pullback?
Decreasing Volume: One of the first warning signs is the decreasing volume. A surge on low volume often indicates weakening momentum.
Lower Higher High: Another signal of a potential pullback is the pattern of lower higher highs. This suggests that buyers are starting to lose steam.
Key Levels to Watch: Fibonacci and Support Zones
Fibonacci Retracement Levels:
Fib 0.5 of the Entire Wave: Close to the Naked Point of Control (nPOC) at $0.4681.
Negative Fib 0.618 of the Current Wave: Also exact on nPOC.
Anchored VWAP:
The Anchored VWAP is acting as support near the Fib 0.5 level of the entire wave, adding another layer of significance to this zone.
dOpen:
Losing dOpen would signal weakness and could lead to a run on the lows to grab liquidity.
Strategy: Preparing for the Next Move
Watch the $0.4681 Level: This is a crucial support zone. If it holds, we might see another surge.
Monitor Volume: Keep an eye on volume. Increasing volume with a price bounce from the $0.4681 level could indicate renewed buying interest.
Set Alerts for dOpen: If the price loses dOpen, be ready for a potential dip to lower support levels.
Final Thoughts: What's Next for Popcat?
Popcat has shown incredible growth, but the current signals suggest we might be in for a correction. Keep a close eye on the $0.4681 level and volume trends. Whether you're looking to enter or exit, these insights should help you navigate the volatility.
What are your thoughts on Popcat? Ready for a dip or another surge? Share your insights below!
BTC - A Healthy Pullback or a Sign of More to Come?Hey fellow crypto enthusiasts! Let's dive into Bitcoin's recent price action and what we can expect in the coming months.
The Correction Phase: Why It's Not All Doom and Gloom
First off, don't panic about the current correction phase. After the halving, a correction was not just expected. It’s healthy! Think of it as Bitcoin catching its breath before the next big sprint. We're seeing an ABC correction pattern, which savvy traders will recognize as a typical and necessary, market movement.
Timing the Market: When to Make Your Move
So, when’s this correction likely to wrap up? Our crystal ball suggests somewhere between July and August/September. This is the perfect window to dollar-cost average (DCA) into your positions. By buying a fixed dollar amount of BTC at regular intervals, you can average out your entry price, reducing the impact of volatility.
Long Positions: Entering long positions in the 50000-52245 range could be a smart move, considering the support levels and the bullish outlook post-summer.
Key Levels to Watch: The Golden Zone
Here’s where it gets interesting. The big kahuna level to keep an eye on is 50K. Not only is it a psychological level, but it’s also where several technical indicators converge. The 0.618 Fibonacci retracement of the smaller wave sits at $52,245, while the 0.382 Fibonacci level of the entire 491 day bull run is at $51,690. This zone also hosts an old trading range, known as a bullish order block. Translation? This area is packed with historical significance and potential support.
Fibonacci Levels:
Fib 0.618 of the smaller wave is at $52,245.
Fib 0.382 of the entire 491-day bull run is at $51,690.
Ichimoku Cloud: Your Support Safety Net
On the daily timeframe, the Ichimoku cloud’s edge (custom settings) aligns around the 50K mark, offering additional support. It's like having an extra safety net below a tightrope walker.
Altcoins: The Unsung Heroes
Don't forget about altcoins! Many have pulled back significantly, with some seeing 60-80% corrections. This is a golden opportunity to DCA into altcoins and position yourself for potential gains. Remember, during market corrections, altcoins often offer lucrative entry points for those looking to diversify.
Wrapping Up: The Bigger Picture
While the correction phase may seem daunting, it’s a natural part of the market cycle. The key levels around 50K-52K are not just numbers, they’re strategic entry points. With the support of the Ichimoku cloud there’s a lot to be optimistic about as we move towards the end of summer.
What do you think? Are you positioning yourself for the end of the correction? Drop your thoughts and let’s discuss!
With a clearer understanding of Bitcoin's correction phase and the key levels to watch, you're now better equipped to navigate the crypto waters. Happy trading!
Token name from you, Analysis with me(6/29/2024)Hi everyone; I hope you have a great weekend.
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SOL IS GOING TO CRASH THE MARKET PART 2MartyBoots here. I have been trading for 17 years and I am here to share my ideas with you to help the Crypto space.
I posted about SOL crashing the market before it crashed when FTX collapsed , check back on my previous trading view videos
This is potentially forming the same pattern that crashed BTC back into COVID crash . So be on alert
SAGA - 4H Perfect Buy OpportunitySAGA had three bearish legs, each resulting in a 60% price fall, demonstrating a strong downward trend. Within these bearish moves, there were two bullish pullbacks, each with a 60% rise, indicating temporary reversals before the continuation of the downtrend. Currently, SAGA is at the bottom of the latest bearish leg.
Given the pattern, I expect a rise as a pullback to the first resistance zone, which is a typical market behavior after such significant drops. If SAGA manages to break through this resistance zone, it could potentially rise further to the order block of the last bearish leg. This scenario would align with previous patterns of price action, suggesting a short-term bullish move within the overall bearish trend.
UNIUSDT is Approaching The Down TrendHey Traders, in today's trading session we are monitoring UNIUSDT for a selling opportunity around 10.200 zone, UNIUSDT is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 10.200 support and resistance area.
Trade safe, Joe.
TRX - The Outlier - Time For A Mega Short?Ah, Tronix. Yes, it's actually called "Tronix", not "Tron." The coin with the disappearing wallet. No joke, I made a wallet back in early 2019 for TRX and stored the private key. I like to do things the old fashioned way, so I wrote it down and double-checked it by logging in. The second time Iogged in, I got the notification, "this wallet doesn't exist." Since then, I've been pretty wary of this project. I could go into all sorts of conspiracy theories about Justin Sun, CZ, Binance, stablecoins......but I'll leave that to your imagination.
This is a purely technical setup. TRX is one of the few coins that has maintained higher support levels during this bloodbath. What's up with that? As far as I understand, TRX is burned to help keep the Tron stablecoin USDD pegged to the dollar. USDT recently moved away from the Tron network. Anomalies like this don't usually last long in the crypto market. I'm speculating that this breaks down massively. There's already buzz that TRX will be the next LUNA, but before I say it's going to zero, let's just look at horizontal supports. If TRX cannot hold the 200 MA on the 3 day (teal), and if it cannot hold that orange uptrend, I think it can fall 50% pretty quickly, much like other alts during this period.
On the bullish side, TRX will need to break and hold above the 200 day MA (teal in the below chart)
The 200 week MA lingers just below, at the 4 cents level. Now, the question is - does TRX test the 50 week MA near 8 cents one more time before dumping? Let's find out.
This is not meant as financial advice. This post is highly speculative, and is meant for entertainment :)
-Victor Cobra
TRX - The Outlier, Part 2This is just a quick follow-up post to my short idea on Tronix from May. Here is the original post.
I ultimately got stopped out of the first trade and failed to catch the nearly 50% drop. Despite dropping below the uptrend, TRX rebounded much better than the rest of the crypto market, and remains one of the only coins still above its bull market support. It's been doing better than both Bitcoin and Ethereum for months. So, what's going on?
Without going into too much detail, the price of TRX is being inflated due to burning mechanisms and its algorithmic stablecoin USDD. Does it deserve its current valuation? Is Justin Sun truly a genius who has engineered the perfect, stable asset? My bet is that this is not the case.
I'm scaling into a short again - entries are marked at the green levels on the lefthand chart, which shows short-term price action. Short term targets are in red, while longer term short targets are shown on the righthand chart (3 day). It might take some time for this to break down, during which TRX can again get into the mid-7 cents zone. This is especially the case if markets are to rally for another 2-3 months. This is why my stop is fairly tight here, and I'm just trying to catch a wave down.
Let's see! Invalidation will be if TRX can break and hold above that triangle resistance on the 3 day chart.
This is not meant as financial advice. This is meant for speculation and entertainment only.
-Victor Cobra
Ripple Potential DownsidesHey Traders, in today's trading session we are monitoring XRPUSDT for a selling opportunity around 0.47300 zone, Ripple is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.47300 support and resistance area.
Trade safe, Joe.
BAKEUSDT: A Sweet Opportunity Amidst a Sour Dump? pen_spark BAKE has been baking up a storm of volatility lately, with a nearly 50% price drop over the past few weeks. New lows have been established, leaving many traders wondering if the bottom is in. However, a closer look at the 4-hour chart reveals a potential long opportunity brewing.
Key Points:
Range-Bound: BAKEUSDT has been consolidating within a well-defined range on the 4-hour timeframe. This indicates a potential equilibrium between buyers and sellers.
Breakout Potential: A decisive break and close above the upper boundary of this range could signal a shift in momentum and trigger a move towards the next resistance zone.
Retest Opportunity: The next resistance zone would likely act as a retest area for the breakout. If BAKEUSDT holds above this zone, it could pave the way for further upside continuation.
Risk Management: As with any trade, proper risk management is crucial. Set stop-loss orders below the recent swing low to protect your capital in case the breakout fails.
Trade Idea:
Entry: Consider entering a long position on a confirmed break and close above the lower boundary of the current range.
Stop Loss: Place a stop-loss order below the recent swing low.
Take Profit: Target the next resistance zone for a potential retest. If the retest holds, consider raising your take-profit targets to higher levels.
Let me know if you'd like a more detailed analysis or have any questions.
#BAKEUSDT #BakeryToken #Crypto #TradingView #TechnicalAnalysis
NOTUSDT is approaching an important resistance areaHey Traders, in today's trading session we are monitoring NOTUSDT for a selling opportunity around 0.017200 zone, NOTUSDT is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.017200 support and resistance area.
Trade safe, Joe.