Price action on the TOTAL chart now comfortably above the c&h Price action is now knocking on the door of 3 trillion for the total crypto market cap. We can see also that now that price action is reasonably above the rimline of this massive cup and handle pattern, and has also closed a weekly candle above it now as well, that we are likely to soon validate the breakout of this pattern and star climbing towards its breakout target of 4.6 trillion. I think Brad Garlinghouse was anticipating the total market cap nearing 5 trillion by end of 2024 and that target is not that far off. I will link some previous total market cap charts below so you can see other macro patterns we are also heading towards with an even higher target than this cup and handle. *Not financial advice*
ATH
HelenP. I Bitcoin can correct a little and then continue to growHi folks today I'm prepared for you Bitcoin analytics. In the chart, we can see how the price some time traded near support 2, which coincided with the support zone and even entered to this area, where little time traded too and then started to grow inside the upward channel. Soon, BTC broke support 2 again and then reached the resistance line, after which made a correction to trend line and later broke this line and fell to the support line of the channel. A not long time price traded near this line and later rebounded to the trend line, which coincided with support 1 and broke them. Next, the price rose to the resistance line, after which made a correction back, breaking the trend line one more time, but soon BTC turned around and continued to move up between this line. At the moment, price traded below the trend line and I expect that BTCUSDT will fall to the channel's support line and then start to grow to the resistance line, breaking the trend line. For this case, I set my goal at 97500 level. If you like my analytics you may support me with your like/comment ❤️
MOODENG Price Rockets 33% Amid Major Listing!The meme coin Moo Deng ($MOODENG) is turning heads in the crypto world with a stunning 26% surge following its major listing on the Asian crypto exchange, OKX. This development has sparked a wave of optimism among investors, who are now eagerly speculating on the potential for further gains.
Why the Buzz Around MOODENG?
The excitement began when OKX, a leading crypto exchange, announced the listing of MOODENG in their USDT market. Trading commenced at 12:00 PM (UTC) today, opening new avenues for investors keen to capitalize on this trending meme coin. The announcement has piqued global investor interest, as OKX's massive user base gears up to explore this new trading opportunity.
🌟 A Bullish Meme Coin Market 🌟
The current market environment is particularly favorable for meme coins. In this Q4, we've seen established names like Dogecoin and Shiba Inu achieve impressive weekly gains of 90% and 25%, respectively. However, despite these significant performances, MOODENG has managed to steal the spotlight, thanks in part to support from major exchanges.
Recent reports from CoinGape Media highlight that Binance's launch of Moo Deng futures, with up to 75x leverage, sparked a 90% price surge. These factors combined have led to MOODENG's remarkable 103% weekly gain and an astonishing 538% monthly uptrend, suggesting that the token holds considerable promise for future growth.
📊 What Do the Numbers Say? 📊
Data from Coinglass reveals a 26% rise in MOODENG’s futures open interest, totaling $293.14 million. Additionally, the derivatives volume has increased by 10% to $2.60 billion. These figures demonstrate a growing market interest, reinforcing the bullish outlook for the token.
🔍 Technical Analysis 🔍
As of now, $MOODENG is up by 38%, with charts showing strong bullish momentum. The Relative Strength Index (RSI) sits at 73, indicating continued bullish sentiment. The daily price chart reveals a bullish flag pattern, supporting the optimistic outlook. However, with MOODENG reaching new highs, immediate support is identified at the $0.50 level. A return to this point could establish a solid buy zone, potentially propelling MOODENG towards the $1 mark in the near term.
In conclusion, while the crypto world is abuzz with MOODENG’s impressive rally, it's important for investors to stay informed and approach with caution. The volatile nature of meme coins can lead to swift market changes, but for now, MOODENG continues to ride the wave of investor enthusiasm.
Stay tuned for more updates, and happy trading!
GOLD VS BITCOIN Bitcoin is often referred to as digital gold as they are both stores of wealth, but how do the charts compare?
Firstly GOLD has been around for much much longer than BITCOIN so naturally the charts are not comparable in terms of duration and that should be taken into account. Golds PA plays out over a much longer timespan to BTCs but the chart patterns are certainly similar.
We have Golds previous rally peaking in 2011 before falling with a rounded bottom, the exact same as Bitcoins structure from the last bull cycle.
Gold then steadily climbs over the HTF stalling briefly at a bearish orderblock (blue box's) which is the same as BTC. Continues to climb to reach previous ATH before distributing/accumulating with sideways choppy price action.
So cleqarly Gold and Bitcoin share a lot of similarities, where they differ in their charts is what happens after ATH and into price discovery...
Gold continued its rally for a further 32% increase once it broke out above the trend channel/ mini range at the ATH level. Bitcoin is looking to do the same and if successful, price discovery should exceed the 32% increase the gold saw because of the difference in market caps of the two assets.
Gold market cap: $18.3T
Bitcoin market cap: $1.35T
Such a massive difference in market caps means less investment is needed to create the price increase and so I believe 32% is a super conservative estimate but we'll use it as an example for comparison. That would take BTC up to ~$92,000, a more than doable move IMO.
Bitcoin can little correct and then continue to move upHello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price a few days ago started to grow inside the upward channel, where it at once reached the resistance line of the channel. Then the price rose to the support area, which coincided with the 66800 support level, and then turned around and made a correction to the support line of the upward channel. When the price fell, it turned around and in a short time rose to the 66800 level, broke it, and then some time traded near. Later, BTC bounced from this level and rose almost to the resistance line of the channel, after which turned around and corrected to the support level, where at once made a strong upward impulse to the resistance line. Price some time traded between this line and later exited from a channel and continued to move up. Some time later, the price reached 86800 current support level, which is located inside one more support area and broke this level. Now BTC trades near this level and in my mind, the price can make a small correction, below the support level, and then continue to grow, and even reach new ATH. For this case, I set my TP at 94000 points. Please share this idea with your friends and click Boost 🚀
Bitcoin: You are not bearish enoughIf you had spoken to me last week I would have given you my expert opinion that my expert opinion was going to be WRONG. I have been of the sentiment that Bitcoin was not going to break the ATH this year and return back to the ETF launch level of 43k. As price rose to test the 2024 ATH I was just as sure as the bagholders I would be proven wrong. That did not happen... in a rather spectacular fashion.
In my past posts and videos I laid out the possible scenarios for price action. One of which was the traversal from 69,420 up to the prior ATH of 73,575. This is something one can just assume when a secondary Resistance is broken that price will move unimpeded to the major Resistance. Breaking an ATH though is the test but often momentum is such that it will just... do it.
What I honestly did not expect is for not only the failure to break to happen but also price close the week BACK INSIDE the three major levels of Resistance I have been harping on for the last two weeks. Bar closing are the great decider. It is always best to wait for them to occur before assessing. This has served me well.
The meme I noted on social media last week was "you are not bullish enough." I think that Bitcoin investors got bullish for good reason but now the rejection has happened. If it was going to go... it should have gone.
Trade wisely.
11/11/24 Weekly outlookLast weeks high: $81,532.47
Last weeks low: $66,852.48
Midpoint: $74,192.48
BITCOIN ATH! After a Republican victory in the US election. A massive moment in history and the markets have reflected the enormity of the moment. Since the announcement of a new president BTC burst through the $74,000 ATH price has continued to climb all the way to a weekly high of $81,500 a +10% move and +22% move for the week, very strong PA!
Investors have clearly taken well to the news as BTC has a net inflow of $1.63B last week from the various ETFs, a staggering sum! Clearly an indication of investor confidence, and to prove that point even more GOLD has taken a tumble at the same time BTC is making new highs, a shift to a more risk-on environment that is further fuelled by the 25bps cut during last weeks FOMC.
This week we have some important data news coming with CPI on Tuesday and PPI on Thursday. Traditionally these events can be volatile however I believe this time they will have less of an effect on the market just due to what's happening in the broader macro environment, the rate cut plus a more pro-growth presidency is enough for a more bullish/risk-on bias.
This week the main focus is on altcoin analysis of first movers, strong performers and what's lagging. Having a plan for when BTC hits its first FIB EXTENSION @ $83,500 depending on how price reacts to that level, it would be reasonable to expect a pullback in which I would say $77,500 is the level I would like to hold.
Good luck everyone!
MA OSCILLATOR RISK METRIC | BTC COLOURED CANDLES [DAILY]As promised, post showing the 'MA OSCILLATOR RISK METRIC' indicator on the daily time frame for you to explore.
This post shows BTC's behavior to historic over / under extension to price and historic levels of volatile in prior cycles on the Daily chart.
Feel free to interact with the chart on a computer via this post (phone apps only show the static image with trading view posts).
MA OSCILLATOR RISK METRIC | BTC COLOURED CANDLES [Weekly]Hi All. Since my prior post on this indicator, I have been asked to show this indicator with risk level colours against price. I initially built this functionality in originally (during the development of this indicator) a number of different ways but ended up simplifying to using pine scrip 'bar color' function.
This post shows BTC's behavior to historic over / under extension and volatile ranges in prior cycles on the Weekly chart. I will follow this post showing the daily chart.
Feel free to interact with the chart on a computer via this post (phone apps only show the static image with trading view posts).
NQ Power Range Report with FIB Ext - 11/13/2024 SessionCME_MINI:NQZ2024
- PR High: 21183.75
- PR Low: 21142.50
- NZ Spread: 92.25
Key scheduled economic event
08:30 | CPI (Core|YoY|MoM)
Virtually unchanged from previous session
- AMP margins increase for expected CPI volatility
Session Open Stats (As of 1:45 AM 11/13)
- Weekend Gap: N/A
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 289.56
- Volume: 25K
- Open Int: 275K
- Trend Grade: Bull
- From BA ATH: -1.1% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 17533
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
High precision version - BTC log trend DEC/JAN PEAKThis is an updated version of my first logarithmic price trend.
This trend is in line with Bitcoin since it first started to trade.
With highly precise curves that better match the cycles, I now expect to see a
peak in BTC price of $90,400 set to hit somewhere between 14th of November and New Year.
I think the trend will be followed even on the downturn,
forming the 'Mother-of-all Head and shoulders patterns'.
Spring '21 Resistance Halts DOGE, Retracement Coming??Here I have COINBASE:DOGEUSD on the Weekly Chart!
Last week COINBASE:DOGEUSD jumped .15 cents or roughly 102% following the final voting count electing Donald Trump the next President of the USA. Along his campaign, we saw a very heavy Pro-Crypto agenda along with the on-boarding of Elon Musk, known for his interest in COINBASE:DOGEUSD possibly being given a position running a "Department Of Government Efficiency".
Price on COINBASE:DOGEUSD after breaking the Aug - Oct '21 Highs has halted right at the Apr - May '21 Resistance. Now with all the speculations coming out about the imminent RISE of price, where is a good place to start investing before the boom?!?!
Based off the High @ .4398 to the Low @ .0805, just before the Break of Structure, We are given some Fibonacci Levels that align with Potential Buying Opportunities if Price needs Support to continue Higher to the All Time High @ .7605.
*Aug / Oct '21 Highs
.3550 - .3025
23.6% - 38.2%
*Mar / Apr '24 Highs
.2290 - .2067
*Golden Zone
.2178
61.8%
Bitcoin’s Bullish Path to New Highs / Targeting $100K📈 The overall trend for BTC on the weekly timeframe is strongly bullish, with the asset approaching a potential new all-time high (ATH ).
👉🏼 Bitcoin is currently showing upward momentum and appears to be targeting the $93,000 level, which acts as a short-term dynamic resistance.
❌ Key Resistance and Pullback Zone:
The resistance around $93,000 could trigger a temporary pullback. In the event of a reaction at this level, BTC might correct towards the support range of $85,000 to $82,000 before resuming its bullish trajectory.
✅ This pullback, if completed, would potentially set up the next bullish leg towards higher targets around $100,000 to $105,000.
🔍 Altcoins Outlook: Given the bullish sentiment in Bitcoin, there’s an expectation of altcoin price increases over the next one to two months. During pullbacks, entering long positions on altcoins may be beneficial as they are likely to follow Bitcoin's bullish momentum.
Note: This analysis is provided for informational purposes only and should not be construed as a buy or sell signal.
MA OSCILLATOR RISK METRIC | CYCLE 4 ATH UPDATE The MA OSCILLATOR RISK METRIC is an excellent custom indicator developed to help investors to DCA in and out of underbought / overheated periods of the market. Applying principals with BTC's CYCLE 4 current progress if BTC remains within historic trends then this also supports the time periods discuss in the below post.
SMA Golden Ratio | CYCLE 4 ATH UpdateIn accordance with historical behavior, BTCs ATH each cycle has corresponded with the next SMA line down (following a multiplication factor of the Fibonacci sequence). As observed in CYCLE 3, BTC tag the BLUE line putting in the Technical High of this cycle meaning CYCLE 4 should tag the Yellow line if History is to repeat. The Second and ATH top of CYCLE 3 tag two lines down hitting the gray line.
We can see BTC has already tag the Yellow line when BTC tage ~73K USD. Looking at CYCLE 3, BTC played with the BLUE line multiple times before settling with the top. Considering this in CYCLE 4 BTC may make another attempt at intercepting the Yellow line again depending no how parabolic BTC will be over the AUS summer period will land the price in the zones discussed in the below post.
BTC in CYCLE 4 may also contact the gray line and in this scenario most tops out around the 100K region December 2024 / January 2025.
CYCLE PIVOT INDICATOR - CTI (Cycle Top Indicator) Cycle 4 UpdateAssuming the CTI (Cycle Top Indicator) again holds true in estimating in real time the potential top for Cycle 4 ATH, as per our analysis in the below post we would be expecting a very parabolic period ahead to land in the discussed cycle ATH zones.
NQ Power Range Report with FIB Ext - 11/12/2024 SessionCME_MINI:NQZ2024
- PR High: 21221.00
- PR Low: 21201.25
- NZ Spread: 44.25
No key scheduled events
Daily print advertising potential rotation off ATH
Session Open Stats (As of 12:45 AM 11/12)
- Weekend Gap: N/A
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 295.61
- Volume: 25K
- Open Int: 270K
- Trend Grade: Bull
- From BA ATH: -0.6% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 17533
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
CYCLE 4 ATH Mapping DETAILED - Price Levels & Time Frame AnalysiAs we now have confirmation of the election result and following our assumption this will lead to seasonal trends of a Santa rally for stocks and bonds as we close out the year, it is now worth mapping this scenario in more detail.
This post looks at CYCLE 4 and maps where this cycle All Time High (ATH) may reach and when, base on historic Indicator behavior / Price Action / Measured Moves / Fib Extensions & Historical Past Cycle Lengths. Assuming BTC continues similar cyclic behavior to prior cycles.
Please explore the below post interactively (which captures all discussed items) to review measured periods and to understand where items have come from with reference to this post.
Historical Cycle Lengths
Measuring from the Bottom to the top of each past cycle recorded the approx. number of days
* Cycle 1 Bottom to ATH Top = ~ 742 Days
* Cycle 2 & 3 Bottom to ATH Top = ~ 1,064 Days (For both Cycles)
* Cycle 3 Bottom to 1st (Technical High - TH) Top = ~ 854 Days
Plotting these on the chart (see blue dashed horizontal lines) it would be historically possible to see CYCLE 4 ATH land between December 2nd 2024 to March 24th 2025, and historically more likely between March 24th 2025 and October 20th 2024. It is noted the trend that cycles are increasing in length (particularly when measuring from ATH to ATH of previous and current cycles).
The suggest time frames currently look reasonable, considering our Cycle Pivot Indictor (CPI), risk indicator, other charts we like to review for ATHs and current projected trend line channels etc.
Fib Extensions
Following analysis looks at the Fib Extensions from prior cycle top to current cycle bottom to estimate current cycle top. Please review the embedded post above if you are unsure how these have been calculated.
* Cycle 2 ATH ($19,666) ~ reached just shy of golden pocket ratio of 2.618 ($20,382)
* Cycle 3 TH ($64,895) & ATH ($69,000) ~ reached just above of golden pocket ratio of 1.618 - 1.65 ($61,327 - $65,047 respectively).
If BTC hits the 1.618 golden pocket ratio extension again in Cycle 4, this would result in an ATH of $157,362. Measured moves suggest reaching these levels are possible, however they are considered the more bullish view of market possibilities at this point in time. It is noted the entire sequence drop in fib ratios from Cycle 2 to Cycle 3. While repeating this again would not make sense for this cycle, if we continue to half the difference for Cycle 4 we fall in the region of the 1.272 ($95,835) and 1.414 ($117,467) fib ratio regions.
My current take on this analysis would be if BTC does exceed the 100K region, 117K may be a good target to look towards (just shy of the nice round number of 120K people could be targeting). If BTC struggles to make 100K then 95K might be the point where BTC has trouble....
Indictors
* RSI - based on above, RSI on the weekly has just approached back into our uptrend region and heading into the overbought zone which it can stay for some time during the bull run period of the cycle. I would be looking to make sure BTC does not put in lower highs in the RSI as bearish divergences in this region in the past has formed in the making of Prior Cycles ATHs. Currently the RSI looks to have consolidated enough over the March - October 2024 period to make a decent run at finishing off the bull period in Cycle 4 (it has done what we wanted from an investor point of view).
* Modified Osilator Wave Trend - similar analysis to the RSI is observed with historic behavior in this indicator. Note historically this indicator can run in the overbought region for some time during bull runs and establishing ATHs
* MA OSCILLATOR Risk Profile Indicator - This indicator is at the right historically to suggest we are in the start of the exponential period of the bull run (after a pullback consolidation post the halving period). ATHs in cycles have been reached during 'Red Zone' price extension periods of my custom indicator.
Hope the above makes sense. I intent to follow this up with some simpler analysis of other indicators.
Price action on the TOTAL chart now comfortably above the c&h Price action is now knocking on the door of 3 trillion for the total crypto market cap. We can see also that now that price action is reasonably above the rimline of this massive cup and handle pattern, and has also closed a weekly candle above it now as well, that we are likely to soon validate the breakout of this pattern and star climbing towards its breakout target of 4.6 trillion. I think Brad Garlinghouse was anticipating the total market cap nearing 5 trillion by end of 2024 and that target is not that far off. I will link some previous total market cap charts below so you can see other macro patterns we are also heading towards with an even higher target than this cup and handle. *Not financial advice*
TRUMP PUMPS BITCOIN 30% in Last 6 DaysThe TRUMP PUMPS BITCOIN 30% in the past 6 days since the election.
CRYPTOCAP:BTC at $90K and in PRICE DISCOVERY.
This means there are no prior levels of resistance on the chart, and SKY’S THE LIMIT.
Next fib level of resistance comes ~$101,600.
That’s another 15% pump from here.
That does not mean we cannot go back down.
$76,5 was the last hiccup in this run.
HODL.
BTC - TARGET REACHED | REPLAY from OCT 2023 - NOWIt is with GREAT pleasure that I say, cheers to you and all the bulls that didn't believe the ATH was in after 74k in March! Although it may seem like I've been a perma-bull, there's been short-term bearish updates throughout the year - let's walk through it and see for yourself!
I will say this, there was a moment when I thought it might happen sooner, but generally I did repeatedly say I plan for the new ATH during December. Close enough!
It is incredibly rewarding to see the entire process playout as I speculated - based off of facts and many hours of analysis and charting since 2017. It all contributed, and makes a world of a difference.
I need some time to plan the next move from here, it will take some time to observe the top out - so keep following!
________________________
BINANCE:BTCUSDT