The bull run has been going on for a week, where will BTC go?
Just one day before the results of the US presidential election, the crypto market bull run started. $BTC has been running recklessly for nearly 5 days, and the current price is $78,844. Everyone feels optimistic now, and at this time, they can't help but sigh at the shock of the bull run. So what now? BTC has reached its goal and surpassed 75K, where will it go? $BTC where will it go? Since the low point in 2022 till now, we have only experienced 4 waves of fluctuations, which means that we
$XRP Analysis Updates (Long term and short term trading)
XRP have been running in the range (0.2994 to 0.7505) from July 13, 2022 till now. The highest price was 0.9647 on July 10, 2023, and then fell back to the range in an instant (see pic 1).
This is a long time for investors to wait, and it is neither good nor bad for traders. It is bad for traders because the small fluctuations mean no big profits; it is good for traders because it follows a pattern in two years, and it is easy to find a kind pattern to trade.
In any case, this article analyzes the history of XRP and then gives my personal speculation on XRP.
First, let's look at the medium- and long-term situation of XRP (see pic 2):
The current price of XRP is 0.5050.
The overall trend of XRP in the future could be an upward trend. It is conservatively estimated that the price of XRP may achieve a 4X increase, and it is very likely to exceed 2 US dollars.
This marathon process may take 26 weeks, which is about half a year.
The current movement trajectory of XRP is to retrace the trend line downward, and then completely reverse the trend after meeting this key price, and change to an upward trend.
The key price is in the range of about 0.4504 and 0.4264.
If you trade XRP frequently, you should mark this price and observe it more.
Finally, take a look at the short-term trading (see Figure 3, 1-h chart).
Currently, XRP is in a downward range. The price trajectory it may follow is marked with pink and blue routes respectively:
If it chooses the pink route: it will go to around 0.4914 and then rise to around 0.5104
If it chooses the blue route: it will rise from the current 0.5050 to around 0.5104, and then turn down.
The 3rd possibility that the price falls out of the range and arrives at the retracement point I just mentioned, around 0.45.
Then 0.5104 is a relatively stubborn resistance price in the current range. You can draw it to assist your trading.
I hope my analysis is helpful to your own analysis.
ENA is still on the bullish path, it has a long way to go, and it is not in a hurry. After observing it for a long time, it seems that it can rise 100% in each wave, and then fall 78%, which feels a bit like a roller coaster 🎢.
But don't forget that its overall price is increasing in a step-by-step manner.
Let's take a look at its data and find out some possible movement trajectories.
At present, ENA has entered the rising parallel line interval, please see the picture. At the same time, ENA currently respects the support price of 0.3222, which means that no matter how heavy the rain is in the near future, ENA will hold at 0.3222. If you often trade ENA, this price can be marked, which will be very effective recently.
Then on the chart, I marked the pink route and the blue route. This is ENA in the parallel interval, which I personally think is the most likely route.
When I was analyzing, the current price was 0.3732.
Pink route: From the current price of 0.3732, it rises to around 0.5326, and then falls to around 0.3754;
Blue route: From the current price of 0.3732, it first falls to around 0.3222, then rises back to around 0.5326, and then falls or rises.
No matter ENA choose which route,which is not completed immediately, and it may take about 15 days to achieve. Haha, yes. This is a preliminary estimate. In trading, patience can bring profits.
I hope my analysis is helpful for your trading analysis.
SUI ran very well last month, and it can be said that everyone is paying attention to it. At this time, it is only in the retracement period. As for the price it will retrace to, different analysts give different opinions, and there are also different opinions.
In any case, its base price is definitely a step higher than last year. Starting from a higher step, it should run farther and farther.
Moreover, the retracement of SUI will not fall straight down instantly, and assets will take an N-shaped line or a wave-like route with ups and downs.
At present, I will talk about my views on the short-term situation and trend of SUI.
At this moment, the price of SUI is 1.9384. It has retraced 38% of the recent band. It may continue to run down to the support price of 1.8888, and it may even fall to the vicinity of 1.84, and then rebound and rise.
There may be two nodes for the rebound price: Around 1.9991 and around 2.04
I hope my analysis will help your trading analysis.
BTC broke through the cage that had blocked it for more than 200 days two days ago, which definitely is a cause for celebration. I wonder if BTC fans have opened a bottle of wine to celebrate.
At this moment today, the price of BTC is 72468, and then it has stagnated a bit. If we look carefully at Chart 1, we will find that BTC reached a temporary peak of 73620 in the afternoon of yesterday, which is basically the same as its peak price on March 13 this year (the previous peak price was 73756). After March 13, BTC entered a long-term range, and it could not go up or down.
And today BTC hit this key price again.This time, I think it is optimistic. BTC has bid farewell to the 68k stage. At this moment what it needs to do is to challenge 73600 again in 200 days, and then completely leave it behind.
So in these few days, BTC may be brewing its ability to challenge again.
Its lowest retracement support price may be around 69613, followed by around 70239, followed by around 71461, and finally around 72258.
If it develops upward, the short-term high may be around 74119.See Figure 2
The results of the US election will be announced soon. I personally think that no matter who is elected, BTC will rise because the United States has decided to link the economy and cryptocurrency. This may be its only way out for now.
Finally, I hope my analysis will be helpful to your trading analysis.
It is interesting to look at the charts of Bitcoin and Ethereum. They have coincidentally replicated the same path over the past two days, see BTC in pic. 2 and ETH in pic. 1.
However, the overall situation of ETH is completely different from Bitcoin.
ETH is still moving in the triangle range mentioned in Previous analysis post, and it has been almost a week.
In any case, ETH will move in the triangle area for the time being. This is actually very easy for traders to trade because we roughly know its range of activity.
The range price are about 2673 and around 2380. (see pic.3 and 4)
It took two days for Bitcoin to show a temporary direction, falling out of the upward blue parallel line(see pic1).
But it is very strongest token and it is not so easy to fall immediately. It will hover for a while around its upper limit price of more than 200 days.
So recently BTC may walk in the price range and refuse to disperse. And this range could be between 68000 and 64838.
I marked several key price points in this range for your analysis reference only:
67903 (a strong resistance value that trapped it for more than 200 days), 67477, 66722 and 66162 (relatively strong support prices), and the temporary lowest support value is around 64838.
$BTC Analysis Updates (Trading ideas very near future)
BTC has been stuck in this range for a long time. Since BTC reached 73646 on March 24, it has been moving in this range. As of today, it has been more than 200 days.
At 7.15pm today, BTC broke through the stubborn resistance value of 67892, and it retreated again. But there is enough information for me to analyze its recent possibility.
At this stage, BTC is likely to be limited in its pace to run in the blue parallel upward small range.
BTC's recent high value may be around 68693, and the recent low value will be around 67291.
If it falls out of the parallel range, there may be a support price around 66802.
Let's wait and see the movement of BTC.
Happy trading everyone and good luck to BTC and us.
ETH is the first super token to fall out of the locked-in range. The overall trend is currently down. But from the chart, it did not choose to fall all the way down, so there is still a chance of turning around.
But the buyers and sellers are in a battle again, and this time a triangle is formed. On the chart, I also marked the range where the ETH price struggle will occur in the next few days with two red triangles (ranging between about 2673 and 2380).
This period may be very exhausting. But in any case, any fight will have a result, or a short-term result, yes, up or down?
If the seller wins, then the price will fall out of the triangle, and the support price below is around 2018.
If the buyer wins, then the price will rush upward, and the short-term target can be seen to be around 2895 US dollars.
Bitcoin is still in a retracement, and the retracement should end soon. From what I can see, the retracement may choose between these two price points to make a choice for next step. (I marked price on chart)
First, around 62412; second, around 62200.
If it eventually falls below 62200, it means that BTC's retracement has failed. The first possibility is that there may be weekend fluctuations with a small price range.
The second possibility is that it may return to the downward trend.
If the retracement test is successful and the two prices mentioned above are successfully turned around, then BTC may move forward without worries. Then may continue the probability move in my yesterday's analysis post
Yesterday, BTC ran like a happy pony. Now it has just gone through a short swing and formed a pennant.
And what makes us happy is that BTC broke through the triangle entanglement area and may make a retracement, ready to say bye to the behind.
So its two upward target prices are: the first target price is around 63737, and the second target price is around 64804. I marked them on the chart as well.
Of course, we must also be prepared in case BTC loses momentum and goes down?
Its downward support price is around 61570. We don't want to see it go lower than that price.
Well, I hope my analysis can help your trading analysis.
$BTC has been falling again and again in the past two days. Yesterday, the price of BTC has stopped at around 58969, a very long candle with long legs. This shows that there is a 75% chance that BTC does not want to go down for the time being.
It did turn around and rise. So, I marked what I think is its near-term target price, and the first target may be around 61547. If it can reverse the trend there, then BTC has a chance to turn back to an upward trend and stand above the 200ema, then the next target price may be around 62708.
If the situation is not satisfactory, BTC may temporarily fall to around 58100,which is temporary bottom line.
I marked all the key prices on the chart, and it may take several hours to achieve these targets.
I hope my analysis can help you with your trading analysis.
SOL looks like other super tokens, still stuck in the pipeline (Figure 1). So this short article only talks about the short-term trading possibilities.
Please see Figure 2. At this time, SOL is already dying above the 200EMA on the daily chart, and it is very likely to lose its support temporarily.
So where will it go(check pic3)? In the short term, it may fall on the short-term trend line, about $138, and then there is a certain probability that it will fall below the trend line, but there will be a support price of about $127 to catch it.
If it moves up, the nearest destination may be around $152.
$SUI has now successfully reached the target price I mentioned in my asset analysis article on September 17th - about $1.79. The whole price run took only 10 days, and the increase was about 70%. 🙌 Celebration🍻