Market Updates

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jesse
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Market Updates

Post by jesse »

Inflection Point for ETHBTC

BTC.D is solidly back above the weekly trend line in a bullish ascending triangle but so far has failed to close above the Marker of a bearish 4h emasar trend.

https://www.tradingview.com/x/ien418u8/

https://www.tradingview.com/x/fwvk3EKt/

ETHBTC will most likely stop out on 4h time frame with next candle close, however price has wicked nicely off the 4h marker. If this marker breaks down it will likely come back to re-test the bottom of the symmetrical triangle on the weekly. ETHUSD has stopped out on 4h emasar.

https://www.tradingview.com/x/oS1bZukO/

https://www.tradingview.com/x/gV0effPK/

GRT, MATIC, TFUEL, ADA, BNT, BNB, DOT still all firmly in bullish 4h trends against BTC. TFUEL currently testing 4h Moon.

AAVE, THETA, UMA currently in the 4h emasar buy zone against BTC.
jesse
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Re: Market Updates

Post by jesse »

BTCUSDT is forming a Rising Wedge on the 1h into horizontal and 144/200 ema resistance. I am still looking for lower prices to add but will get bullish if this wedge breaks to the upside.

https://www.tradingview.com/x/rrPpL6Zn/

LINKETH looks read to break this significant bearish TL. Both 1h and 4h emasar are bearish and i believe a bullish flip on the 1h and a break of the TL will be an excellent signal if it happens.

https://www.tradingview.com/x/WkgD6Xzf/

https://www.tradingview.com/x/p1ubKFnG/
jesse
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Re: Market Updates

Post by jesse »

BTCUSDT has formed a Falling Wedge into the 4h Beach + Ocean, Horizontal Support

https://www.tradingview.com/x/xRDiqt8Z/

ETHBTC is now fully reversed bearish on 4h Emasar. This was a tough one, I had entered on the 4h beach at weekly horizontal support after 3 consecutive weekly closes above that horizontal. Likely return to bottom of weekly symmetrical triangle. I have a hard stop under the local low and will be reducing exposure on any bounces.

https://www.tradingview.com/x/Dxcc1yEd/
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Re: Market Updates

Post by jesse »

ETHBTC has potentially put in another higher low on the 1h which could lead to a breakout above horizontal resistance at the beach + 200 ema

https://www.tradingview.com/x/EqPNkkr6/

THETABTC has broken out above major horizontal resistance to make a new ATH. Price is currently in the 4h sky and I am looking for consolidation as the ema's catch up.

https://www.tradingview.com/x/LpeLwP9U/

SUSHIBTC has triggered it's first ever 4h emasar long and is re-testing prior horizontal resistance below the sky.

https://www.tradingview.com/x/0EXBvtDA/

DOGEBTC continues to consolidate above the 4h beach and horizontal support.

https://www.tradingview.com/x/c87eip09/

LINKETH has broken a 5-month bearish trendline and triggered an unconfirmed 1h Emasar buy signal. Price now testing horizontal resistance as the 50 ema is about to cross the marker.

https://www.tradingview.com/x/xdq5n52S/

SILVER looks very healthy to me holding above the 50 day ema and the bull trend line.

https://www.tradingview.com/x/AAae01J7/
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Re: Market Updates

Post by jesse »

Bitcoin is rallying hard today and alts are taking a beating in BTC terms … however the bitcoin domiance chart is approaching strong resistance from the 4h beach and the previously broken TL and 50 ema on the weekly. I am looking for the 50 ema to cross the TL for confirmation.

https://www.tradingview.com/x/VeeQu6PH/

https://www.tradingview.com/x/WsSTTv2u/

Here are a few Alts at 4h support vs BTC :

DOGEBTC : https://www.tradingview.com/x/n2lFFmrG/
SUSHIBTC : https://www.tradingview.com/x/Ppoxnmwn/
EWTBTC : https://www.tradingview.com/x/dmmMlEdx/
ETHBTC : https://www.tradingview.com/x/yzc5eUjs/

Ethereum Marketcap Dominance is continuing to hold the bullish TL and 50 ema on the weekly : https://www.tradingview.com/x/EWhJ1dsY/

BTC is clearly leading the market at the moment but I beleive Alts will pick up the slack shortly once BTC has put in a new local high.

In traditional markets, Gold looks to have found support on the .5 fib and bullish TL on the Monthly chart and the DXY is at Monthly horizontal and 100 ema resistance :

https://www.tradingview.com/x/A2opCKzP/

https://www.tradingview.com/x/Po5A2QpP/
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Re: Market Updates

Post by jesse »

ETHUSD and many ALT/USD pairs are forming Ascending Triangle-like patterns of consolidation as BTCUSD continues move up to the higher bounds of a possible rising wedge.

BTCUSD rising wedge : https://www.tradingview.com/x/mJp6Z6oO/

ETHUSD : https://www.tradingview.com/x/YFHvBgiX/

LINKUSDT : https://www.tradingview.com/x/jaavIhbK/

AAVEUSDT : https://www.tradingview.com/x/tauuzkn6/

DOTUSDT : https://www.tradingview.com/x/xyomzEfp/

SUSHIUSDT : https://www.tradingview.com/x/1ERBqSGj/

EWTUSDT : https://www.tradingview.com/x/U29b4ssk/

Meanwhile BTC.D is currently re-testing the broken TL on the weekly and is on the beach + below the marker on the 4h :

https://www.tradingview.com/x/7ZCZBrPA/

https://www.tradingview.com/x/MGW4BwPR/

As alts continue to consolidate and begin to break their consolidation patterns in USD terms I will expect eventual higher prices in terms of BTC once BTC completes its current move to the upside, possibly resulting in a bearish breakdown of the rising wedge.
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Re: Market Updates

Post by jesse »

My current perspective is that BTC is approaching a significant local top that will be marked by a breakdown of this Daily Rising Wedge with a bearish RSI divergence :

https://www.tradingview.com/x/xfu9rN2z/

Bitcoin dominance continues to look weak, with the 50 and 200 emas on the 4h crossing the bearish weekly TL. Weekly 50 ema very close to crossing.

https://www.tradingview.com/x/NQ0L6UlM/
https://www.tradingview.com/x/ySHHb4Rs/

Meanwhile many alts have been consolidating in bullish chart patterns against USD while BTC moves up :

AAVEUSDT 4h Ascending Triangle : https://www.tradingview.com/x/wo8JDx51/

FLMUSDT 4h Ascending Triangle : https://www.tradingview.com/x/En14HyH0/

XMRUSDT 4h Ascending Triangle : https://www.tradingview.com/x/mTQekbOe/

XLMUSDT Trendline Break : https://www.tradingview.com/x/OiRRUQz8/

Some interesting alt/btc setups :

AAVEBTC 12h Falling Wedge into Beach : https://www.tradingview.com/x/fZm3HEpP/

TFUELBTC 1h Falling Wedge into Beach, possibly broken out : https://www.tradingview.com/x/pYZ0vsNh/

SUSHIBTC Price approaching Confluence of 4h 200 ema and bullish TL of symmetrical triangle : https://www.tradingview.com/x/193VSyxD/

I am planning to take profits on 2/3 of my long term btc holdings at the top of this wedge, allocate 1/3 to ALT/USD pairs and keeping 1/3 in cash. I do believe that BTC can get to 100k but i think it’s a safe bet that we will not get there without a significant prolonged correction. even if bitcoin does go straight to 100k i think there will be a chance to re-buy it at 70k before it goes higher. This is just my opinion and not investment advice.

Also something to keep an eye on, the US 10 year treasury has broken through Monthly horizontal resistance. So far markets are putting up with higher interest rates but i suspect the fed is going to have announce some type of yield curve control to keep the party going.

https://www.tradingview.com/x/LaI7iuN1/
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Re: Market Updates

Post by jesse »

BTC has broken down the rising wedge on the daily and is forming a descending triangle on the 4h ... if price cannot hold the 200 ema I will look for a sell-off ... Until broken the confluence of the horizontal, 4h 200ema and 1h marker should make good support.

https://www.tradingview.com/x/ZRdRpKtX/

https://www.tradingview.com/x/3K0j5lZs/
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