Crypto total chart has 2 contradicting structures. Descending triangles are bearish and often leads to crashes.
The falling wedge correlates with Bitcoin's falling wedge that is just broken out. Ethereum on the other hand has a descending triangle.
We'll see the market's decision soon.
The falling wedge correlates with Bitcoin's falling wedge that is just broken out. Ethereum on the other hand has a descending triangle.
We'll see the market's decision soon.
코멘트:
I think this is really important for crypto in 2023-2024. If we make a correction to the last markdown, that means bear market is probably far from over. If we run the lows and come back, that's the bottom.
코멘트:
BTC.D is also confusing right now.
코멘트:
BTC.D pumps mostly because money is flowing from stables to BTC. New money is not interested enough.
코멘트:
We go for the green one if it can break 200d ema.
코멘트:
Important day. Good luck to both parties.
코멘트:
Yeah it's a breakout.
코멘트:
I still wanna see it above 200d ema but I can't deny it's bullish atm.
코멘트:
I mean we have to accept the current trend is up at this point. But SPX is on a major resistance. US markets did go up lately but they don't really show strength like crypto. VIX is on a major uptrend test. DXY looks weak but it is to close fib. retracement level. I think we need to see this week first to be sure.
코멘트:
Or let's say it this way. Looks like very important downtrends are broken. But we don't have a convincing uptrend yet. We have a blow off.
코멘트:
Interesting interactions with 200d ema.
코멘트:
Look at the bearish perfection on NASDAQ. This thing should go down.
코멘트:
NASDAQ is still trying. Crypto TOTAL is above 200d EMA. Make it or break it. Breaking the 200d EMA is cool but making it a support is what you want as a bull. You want a trend. What we have is up only.
코멘트:
NASDAQ ltf. I don't like V type recoveries. Pull-back and continuation is needed for me to like it.
코멘트:
And of course the famous SPX trend. They definitely changed the sentiment from a week ago. We'll see.
코멘트:
Imagine the pain haha. Everyone waiting to long it when it breaks up. It would go to hell if this happens. People forget how deep is the COVID low.
코멘트:
NASDAQ bullish. Good reason for crypto to climb more.
코멘트:
Just like Burry says. People are roasting even him on twitter lmao. And better economists warning against recession. Idk this smells very bad. "Number go up fast and aggressive" narrative vs very real problems.
twitter.com/michaelj.../1617747553252159494
twitter.com/michaelj.../1617747553252159494
코멘트:
ETH starting to look like the previous top. Number 1 rule of a bear market. Never ignore a sign of weakness.
코멘트:
코멘트:
But US market gives good signals. I think we have room upside. 1.2-1.4 very likely compared to 10 days ago.
코멘트:
Imagine people going crazy with something like this. iH&S + Ascending triangle. And it actually fails.. Why not?
코멘트:
Sell off on TOTAL2 is promising for bears.
코멘트:
I've never understood the bullish argument about ETH chart. One of the most important reasons I'm a stubborn bear about crypto for a long time. If it's really bullish I still believe it has to build something bullish on the macro chart. That means dump mid-term.
코멘트:
A very important indicator I forgot to look here. 200 wma.
코멘트:
I am in if I see a hard dump and then deadly boring accumulation breaking up.
코멘트:
Like a giant h&s. How can I reject?
코멘트:
But it would probably even more boring than I just drew :D
