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BlackRock Bitcoin ETF Is Forming An Intraday Bullish SetupIf we take a look at the hourly chart of BlackRock Bitcoin ETF with ticker IBIT, we can see nice and clean five-wave intraday rally from the lows, followed by an a-b-c corrective setback with first support at 32 area, while second deeper one would be around 31 area. So, seems like it's forming a nice intraday bullish setup formation, thus watch out on a bullish continuation, while it's above 28 invalidation level, just keep in mind that bulls may step in above 34.15 level.
NASDAQ:IBITLong
by ew-forecast
Solana Likely To Test The Low $100 Area - Great Long OpportunityDespite greatly outperforming most of the crypto market recently and getting a higher high, Solana obviously couldn't avoid the global selloff that has been happening across all markets for the past week. The sell pressure might force Solana to a lower low in the $100-110 region, maybe even wick below $100 as stop losses get hunted and people get liquidated. There are several factors that make me believe this could be the bottom of the range we've been trading at for many months, and we'll be heading to new highs starting around September/October. The low $100 area has previously shown to have high liquidity, and has a positive volume delta since the low of January, indicating there's more buying than selling interest at that price. There's also the October anchored VWAP which has now reached $108. The upper 0.5 standard deviation band has acted as a support level for pretty much every dip so far this year, but we could see a test of the VWAP now that it has risen close to the local trading range. The Fib extension using the pivot highs and low of the trading range gives us the 1 level at $107, aligning with the VWAP. The ideal entry points which I'm looking for are $107.5, $102.5 and $97.5, as there's a high chance that there will be a lot of stops around these prices. Also be aware that there might be a double bottom first before price goes up again, which is often the case for major trend reversals, and has been for Solana's previous 2 dips. These usually also have a bullish RSI divergence which is good to keep an eye out for. Profit targets for this trade shorter term could be around like $180-$200, longer term would be at some future new ATHs, which might be around some of the Fib levels in the previous chart I published.
Long
by NoLimit_777
1
Coinbase Remains In The Bullish Trend, So As Crypto MarketCoinbase is making strong and impulsive rally away from the lows, which should be completed by a five-wave bullish cycle from Elliott wave perspective. We have seen some slow down for the last couple of months, but it looks like a clean wave 4 correction that can send the price higher into a 5th wave later this year. Considering a positive correlation with the cryptocurrencies, it can also help Crypto market to stay in the bullish trend.
NASDAQ:COINLong
by ew-forecast
#BTCUSD/H4 BTCUSD opportunity to buy backBTCUSD analysis on 12/08/2024: BTCUSD is showing an upward trend after a correction to around 49000. BTCUSD did not have a deep correction as expected, but it is currently a good trading opportunity. The current trend for BTCUSD is LONG. Key price levels to note: 56000 - 56700; 55000 - 55200; and 53000 - 53200. Recommended orders: Plan 1: LONG BTCUSD zone 56300 - 56600 SL 56000 TP 57700 - 59000 - 60000. Plan 2: LONG BTCUSD zone 53000-53200 SL 49600 TP 55100 - 57700 - 60000.
FX:XAUUSD
by wetdyerap
2
ETH - Macro Overview WATHOUT !!!Macro outlook remains BULLISH Previous report we mentioned RSI which broke bearish… It has now reached the 50 retrace which should act as support. Of course it could go lower but as long as we maintain RSI above 50 it's all good. For now, the price broke bearishly. It is crucial to reclaim back above $2,800 for further upside. If $2,800 acts as resistance then we could easily create a trading range from $2,800-$2,000 and dip as low as $1,600 and still be completely bullish (this will be the ONCE IN A LIFETIME LONG opportunity). Any trades to be made right now? NO, price looks like it wants to revisit $2,000 again. There are no clear trading setups right now. We’ll rather stay on the sidelines for now and jump in once we see more confluence.
BINANCE:ETHUSD
by ZelfTrade
Crypto Market Still Shows Correction Within UptrendCrypto market is in another bigger decline, impacted by stock market sell-off, but we still see it trading within a higher degree A-B-C correction for wave 4, where wave C of 4 can stop anywhere here in the 1.7T – 1.4T area. It's still a summer consolidation, so as long as Crypto total market cap chart is above trendline and 1.2T invalidation level, there's still a chance for a bullish continuation for wave 5, but we need to see sharp or impulsive stabilization back to 2T area to confirm support in place.
CRYPTOCAP:TOTALLong
by ew-forecast
Black Swan Incoming (Part 1)This is the start of a series I will be publishing for the rest of the year. I will focus 100% on trying to do the impossible and predict a narrow timeframe of a potential black swan event. **The series will end and this theory will be invalidated if we break and close a weekly above the previous weekly high at 75k.** **Fear and Greed Index (alternative.me)** As you can see, we only have data from 2018. Nevertheless, we have data on the last bull market and rallies since then. As we can see, the index will print lower highs before rallies and bull markets. **What we have now is a break of a multi-year uptrend on the index and currently putting in a lower low, which is not a good sign at all.** **2Week MACD BEARISH CROSS** The MACD has crossed bearish on the 2W timeframe five times. One out of the five times, it was a false signal, and that was the crash in May 2021 down to 30k. The rest of the time, when this signal fires off, Bitcoin from that candle close on average moves down 63%. TOPPING DISTRIBUTION FRACTAL APPEARS I have covered this fractal many times on my channel; you can probably find more than ten publications just on this fractal. Why are we seeing a double-top distribution fractal again play out at the top of rallies? How many times are they going to use it? These three occasions, you can see they all happened with very similar timing from peak to peak and the first wave down. Volume Block and Bayesian Trend The Bayesian Trend is currently giving a 41% probability of a move higher from this point. As I'm writing this, Bitcoin has just hit the 0.618, which happens to be the level with a dominant sell order block. It's a classic move, guys: double-topping pattern into a 0.618 retracement rollover, nothing new. Crash Zone Explained Here is why I think "if" a black swan happens, this is the timeframe where it's most likely to happen. We have US elections, the first possible rate cut, and the start of my Fib time. As you can see, this Fib sequence predicted the last black swan event, which was the Covid Crash. It is a very powerful sequence for predicting Bitcoin macro pivot points a year. Last year, unfortunately, was the first time it failed. Nevertheless, I still keep an eye out during these periods. Fed cuts are not bullish, especially after long pauses above 5%. Last time we had rates at 2% when we started cutting, a multi-month downtrend began which led to the Covid crash. NAS100 above. **BTCBTC: Spent Volume Lifespan 7y-10y** The total transfer volume of coins that were last active between 7y and 10y ago. Always a useful tool to see what the big boys are doing and what we see is something pretty shocking. Big volume in these wallets can be connected to major pivot points for Bitcoin in the past. So the largest volume output recorded before 2024 was 1600 BTC. In 2024............... It's the same chart, just included 2024. The output volume in June 2024 was 13,900 Bitcoin. I double-checked it; it's the reason now all the other pivot points look like a small blip on the chart. Insane, 13,900 Bitcoin moved at an all-time high, and then we get a big move down. I guess this metric still works perfectly at finding tops. **Crash Targets** As you can see, we have two main diagonal supports to look at. Honestly, I do not trust any diagonal supports, but the yellow macro one has three cycle low hits, so it holds a lot of weight. The second one, which is the orange dotted line, has two hits and will most likely fail. In my experience, when we have a very clear diagonal support and it comes down for its third touch, it breaks because everyone is looking at the same thing. It's that simple: the entire space is looking at it, so therefore it breaks and everyone gets rekt. The golden pocket sits at 35-37k and at the macro yellow support. This is where I would say the bottom is most likely in. If the black swan plays out all the way, we would most likely see the CME gap at 21k close. This would most likely be a hammer candle that would last seconds. **Invalidation** If Bitcoin were to break the previous swing high at 74k and close a weekly above it, this entire TA would be invalidated. Even if it closed above 0.618 at 67k, the chance of invalidation would increase dramatically.
INDEX:BTCUSDShort
by Sporia
43
Crypto Market Forms A Bullish SetupCrypto market made a nice bullish setup formation with a five-wave rally in July, followed by an a-b-c flat correction. It has just came nicely into projected 2.2T – 2.1T support area within wave »c« of an a-b-c flat correction in wave (2), from where we should be aware of a bullish continuation within wave (3). However, keep in mind that we have important NFP report (US jobs data) today, so it's recommended to wait on confirmations, which is sharp or impulsive bounce back above 2.45T level.
CRYPTOCAP:TOTALLong
by ew-forecast
XRP moonshot?Since April 2021 XRP has been banging on the 2/1 Gann failing time and time again. In the last three years we hit the 2/1 Gann 5 times and failed to break it , this monthly candle is extremely bullish and we have reached the apex of this Gann triangle, the chances are we break to the upside. Since March 2020 we have been printing lower highs on the monthly without fail. Stoch RSI monthly buy. Bar pattern fractal from 2015 repeating. Very high chance here XRP breaks 2/1 this time round , there is a lot of momentum.
BITSTAMP:XRPUSDLong
by Sporia
2
ETHBTC Shows Lower Degree Bullish Setup FormationWe talked about ETHBTC back on July 5th, where we mentioned and highlighted a completed higher degree corrective decline with strong support zone. Since then, we have seen some short-term slow down, which can be just a lower degree bullish setup formation. ETHBTC looks to be finally ready for a bullish continuation within higher degree wave C/3 after we noticed an impulsive rally into wave A/1, followed by recent a-b-c corrective setback in B/2. With current sharp bounce, seems like wave B/2 is completed and wave C or 3 already in progress, especially if the price jumps back above 0.05150 region. Bullish ETHBTC pair also indicates that Ethereum could be doing better than Bitcoin in upcoming weeks. Can other ALTcoins too? Is it finally time for ALTseason?
Long
by ew-forecast
Ethereum Is Poised For More GainsEthereum with ticker ETHUSD is nicely waking up after recent higher degree A-B-C correction in wave (4) that can be bottoming at 2700-2850 area as price recovered sharply in the last two weeks that can be first wave 1 of a higher degree wave (5). Notice that there was also a broken channel resistance and five waves up from the lows up to 3565, followed by a sharp drop which can belong to wave 2 correction. So, more gains can be seen now after a Trump's speech at Bitcoin conference in Nashville. There were a lot of positive comments from Trump that can send the price at least up to 3800 area, but we believe it can be trading in wave 3, especially if ETH breaks above channel resistance line near 3800 level. At this stage, alternatively just be aware of more complex wave 2 that can retest 3000 support level.
COINBASE:ETHUSDLong
by ew-forecast