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Bitcoin is consolidating within a descending broadening wedge pattern. Currently, it is testing the Ichimoku Cloud, which is acting as a support, while the 50-day and 100-day moving averages both are serving as resistance barriers.
A successful hold above the Ichimoku Cloud could signal a bullish trend, whereas a breakdown below the Ichimoku Cloud may indicate a bearish trend.
Bitcoin is currently trading within a rising wedge pattern. It is rebounding from the support trendline of the wedge, with the Ichimoku cloud providing support and indicating bullish momentum. However, the 100MA moving average is acting as a resistance barrier above the current price action. We should wait for a decisive breakout or breakdown to confirm the next move.
The total cryptocurrency market cap is experiencing a downward movement following the breakdown of a rising wedge pattern. The Ichimoku cloud is acting as resistance above the price action.
Currently, the market cap is trading above a horizontal demand zone, where we can expect a potential bounce. However, if it breaks down below this demand zone, further correction in the market is likely.
I took 13.5 Years time interval of $Gold & 3.5 Years time interval of $BTC
#BTC is step by step following the structure which Gold built in 13.5 Years (Should be said it's not 100% Accurate but Price Action repeats perfectlyđ)
Let's Considerđ§
Distribution â Dump â Accumulation â Rally â Re-Accumulation â Rally - All Steps are repeated perfectlyâ
Btw it's also a Descending Broadening Wedge re-accumulation along the ATH Resistanceâïž
Bitcoin is facing rejection from the resistance trendline of the descending triangle. It is currently trading above the horizontal demand zone of the triangle.
The Ichimoku Cloud indicates bearish momentum, while the 200-day moving average provides support below the triangle.
We need to wait for a confirmed breakout or breakdown to determine Bitcoin's next move.
STMX has broken out of a descending broadening wedge following a strong rebound from the support trendline. It is currently attempting to break through the Ichimoku cloud.
A successful retest above the pattern resistance is needed to confirm further upward movement for STMX.
#COTI has been moving downward in a falling wedge pattern, and we're seeing signs of accumulation on the daily chart, suggesting a potential rise. A breakout above the wedge would be a positive sign, but we need a retest to confirm it.
If the price keeps dropping, it might retest the support level at $0.066. This is a key level because failing to hold here could lead to a further decline.
If the overall market sentiment turns negative and there's heavy selling, #COTI/USDT might fall to its strong support zone at $0.07500. This area is important because it has provided strong support in the past.
Bitcoin is currently trading near its resistance trendline after a robust rebound from the support trendline, indicating strong upward momentum.
Positioned above the Ichimoku cloud and the 100-day moving average, which are providing significant support, the current price action suggests bullish sentiment.
A breakout above the resistance, followed by a successful retest, could trigger another bullish rally, potentially pushing the price higher.
However, there is also the possibility of a decline if the price fails to break through the resistance trendline, emphasizing the critical nature of this juncture in Bitcoin's price trajectory.
XRP is consolidating within a symmetrical triangle pattern and currently rebounding from the support trendline. The Ichimoku cloud is acting as resistance above the price action. We need to wait for a solid breakout or breakdown before taking any action.
Bitcoin is experiencing a robust rebound from its support trendline, yet it faces resistance from the Ichimoku cloud, reflecting current bearish momentum.
To gain a clearer bullish outlook, it is crucial to await a breakout above the Ichimoku cloud and the horizontal supply zone.
This breakout would signal a potential shift in market sentiment and pave the way for Bitcoin to reach new peak levels.
Patience is key as the market tests these critical resistance levels, but a successful breakout could mark the beginning of a significant upward trend.
The ALTS market cap is experiencing a significant rebound from the support trendline of the descending channel, signaling potential bullish momentum. This rebound is currently facing resistance from the Ichimoku cloud, which is acting as a barrier.
However, the 200-day Moving Average is providing strong support, further indicating a bullish trend.
A decisive breakout above both the Ichimoku cloud and the descending channel would likely trigger a robust bullish rally in the ALTS market, suggesting substantial upward movement and positive investor sentiment.
I am confident that Solana (SOL) is poised to reach the $1000 mark in the upcoming months. The price action is forming a strong ascending triangle pattern, typically indicative of a bullish breakout. The consistent higher lows and the test of the resistance level suggest significant buying pressure. If the breakout above the resistance line is confirmed, it could propel SOL to new heights, making the $1000 target a plausible scenario.