RayneOnChain

RayneOnChain

Despite the calls for a double topping pattern, Bitcoin is yet to enter the territory of worry. For the time being, support can be expected from as low as $112k. However, potentially signaling a short-term recovery, BTC is testing $115k as support - previous resistance. Continued short-term weakness could lead to a test of $112k, effectively creating a range...

RayneOnChain

After a solid recovery from the daily 200MA, Solana has retraced from its local high around $210. Currently trading around $180, previous resistance and potential support, if the bulls can reclaim $184, we may see a recovery towards $206. Potential resistance can be expected around $190 first. Continued short-term weakness from current levels could see...

RayneOnChain

BTC is potentially forming a textbook bull flag with a measured target of $140k. A solid break and retest of $120k would signal strength and a push towards the target. Losing $114k or a strong close below it's current range support around $117k could signal a test of $110k as support - potentially great buy opportunities.

RayneOnChain

SOL is testing previous resistance as support around $180. Reclaiming $184 could signal a test of last week's highs around $206. Claiming $206 as support could signal a push towards $260. Losing $180 could signal a retracement towards $165 or 1D 200MA.

RayneOnChain

SOL has been showing strength since it reclaimed the 1D 200MA last week. Currently trading around $192 - above May's highs - continued bullish momentum could see price test Jan highs around $270. Until then, any retracement could be a buying opportunity.

RayneOnChain

The battle for Solana to overcome the 1D 200MA continues. A daily closed above $166 could signal a push towards May Hs around $185. The last time SOL traded above 1D 200MA was in Feb. Since then, the daily 200MA has been acting as resistance. If Solana can finally start trading above the 200MA and reclaim $185, it could signal higher prices and a test of...

RayneOnChain

I remember so clearly in November 2021 when Bitcoin showed bearish divergence on the weekly charts. We might all be suffering from PTSD and fear the same outcome, especially with the potential for a double top. If BTC is able to stay above the 1D 200MA, as well as the RSI remaining above 50, there may be hope... If not, i.e. a weekly close below and retest of...

RayneOnChain

I don't like this rejection from the 1D 200MA. Looking at the the weekly chart, it is very easy to see the similarity to 2022. Maybe we should brace for impact?

RayneOnChain

After a retest of support around $142, SOL is testing previous support as resistance around $152. A strong break and retest of the $153 area could signal price reclaiming support and heading towards $166. Failing to do so could lead to a retest and confirmation of $140 as support. Of course, losing support would signal further weakness towards $136 before a...

RayneOnChain

After reaching new highs around $112k, BTC has since retraced to support around $100k. Currently reclaiming support around $105k, continued strength could see price reach ATHs in the coming days or weeks. Losing support around $105k could signal a retest of $100k. Referring to a previous post, my theory that we may not see sub $100k for the rest of the year...

RayneOnChain

SOL is potentially creating a local low around $150. If buyers step in and price holds these levels, we could see a reversal, reclaiming previous support around $160. A rejection from $160 and breaking this week's lows ($150) could signal a retest of previous levels from $130 - $140. My personal instinct is still weary of the fact that price has been rejected...

RayneOnChain

BTC has lost local support around $107k and currently testing previous resistance around $104k. If buyers are able to step in between $100k - $104k and reclaim $107k, it will signal strength. If BTC experiences continued weakness, losing $100k as support, I would expect price to test the $95k - $97k region or 1D 200MA before signaling a reversal.

RayneOnChain

SOL is holding above support around $166, potentially heading for a test of local highs around $185. A strong break and close above could signal a push towards $190 - $200. For the time being, Solana has also yet to reclaim its 1D 200MA which could also be signalling some weakness, or lack of strength rather, in the short-term. Reclaiming $166 on 21 May could've...

RayneOnChain

Bitcoin is potentially finding support around $107k after making new ATHs last week around $112k. Assuming these levels as S and R, a strong break could signal the direction of price in the coming days. If local support is lost, we can expect price to at least test $104.9k. Assuming the bullish momentum continues, breaking resistance would signal higher...

RayneOnChain

SOL starts the week trading below local support around $165. Continued weakness could lead to a retest of $155. Failing to hold $155 could signal further weakness and the possibility of entering it's previous range with support around $142. If prices reclaims $155, it could signal strength and potential to turn local resistance around $182 into support,...

RayneOnChain

If you were like me, you got a little dose of hopium after BTC closed above last week's resistance around $105k. Nonetheless, resistance was expected from $105k - $108k with price starting the week with a bearish engulfing candle, currently trading around $103.1k. We will have to see if last week's support around $101.5k holds. If the price continues with...

RayneOnChain

BTC continues it bullish momentum supported by the total crypto market cap in bullish territory around $3.31T, well above the 1D 200MA. Starting the week with a continued steady uptrend from last week's push to current levels, reclaiming $102k. Continued momentum could easily lead to a break and close above ATHs. If, for whatever reason, there is weakness,...

RayneOnChain

After breaking out of last week's range, BTC failed to flip R to S. Currently testing potential support, if price fails to hold it current price range between $93.k, we could see a retest of GETTEX:92K or the 1D 200MA around $90k.