Local owerview $BTC We have grown quite a bit today and are struggling with the 63K level. It is important to get a foothold above the red box, and ideally a foothold above 65k. When we do this, the next level will be 71k.
$BTC is now below the box - support and below 100MA which is negative, need to go higher again this weekend to feel better and confident. At the moment there is a red box for me now, if we anchor below it I think we will see another local bottom.
I like how some #altcoins❗️ are up 30+% in the last week, this is actually a positive thing. I also like that BTC.D has broken its trend line down and it will be positive for #Altcoins if this is the case until the end of this week #altseason
🔥 If we look at $ETH globally, we are in a large ascending channel, which is interestingly at the bottom of it. So if we fantasize, we can see just unrealistic prices like 25K per #Ethereum and even crazy 270K 🤯 Write in the comments 👇whether you believe in such a price for #altseason#AltcoinBoom!#altcoins❗️
It still holds up. A massive move should be in for $XRP given the weekly timeframe. What price do you think we will see for #ripple in this bull market ? #AltcoinBoom!#altcoins❗️#binance
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varfolomiiev
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You have to see it 🔥🔥🔥 I'm not a fan of #ripple but I can't ignore that we are in a global triangle on the WEEKLY chart!
You can see in the second screenshot what we got out of it and how soapy it redeemed itself. The output from this can be quite strong.
1) In general, the price moves according to the forecast - consolidating between 50 (yellow) 100 (purple) MA. This is the 60000 – 65000K range. For a while, the price may move in this direction with the withdrawal of liquidity a little higher/lower, in both directions
2) A retest of the 100th MA and closing of the gap from May 3 is allowed, that is, a return to the 60K mark with a possible puncture a little lower
3) The key support zone in the medium term, as before, remains 58K on the weekly TF. As long as $BTC holds this figure, everything follows the standard scenario of the last two bull cycles #Bitcoin#binance#altseason#altcoins❗️
It is very important to watch this #Bitcoin dominance trend right now, because if we anchor below this trend on the weekly chart, it will mean an #altseason
We can already see how such coins as $FRONT or$TRB are growing, this is very positive. By the way, these same two coins were the first to grow when the pump started in September - October 2023 #altcoins❗️#AltcoinBoom!
🔥Weekly timeframe. You implemented a hammer candle, which is a bullish sign. I'm not a big believer in candlestick analysis for cryptocurrencies but it should have been said as the week really ended well. Also, most importantly, we closed above 60,500 - 61,500, which is also a bullish sign. (see the first screenshot)
Also, pay attention to the second screenshot. When we were at 40K +- it seems it was already happening. Then the weekly candle also closed in a similar way and in general the situation resembled what is happening now. After that, we grew by almost 100%. History can repeat itself.
🔥Daily timeframe. I previously showed that we are holding well above the 100 moving, so we managed to retest it and trade above it again. The last time we tested it we grew almost 100%. Also pay attention to the daily MACD, we are finally in a bullish path and it shows us again that the bulls are gaining strength.
Basically what I'm looking at right now to be sure. The most important thing for me right now is not to go below 60K and to consolidate above 67,200 - 69,000 ( see screenshot 4 ) If we close this week above this mark, I will be 100% bullish.
At this point, there could still be a correction or even another leg lower. But I give this option no more than 10%.
Next week there are practically no significant events and data on the economy other than the standard ones that are published weekly. At the same time, earnings season continues in the US
#Bitcoin looks like it wants to make a V-shaped reversal after breaking down $57,000, plus the week may close quite well (we'll find out tomorrow)
The combination of these two factors is currently encouraging; there is a reasonable probability that the peak of the correction has passed.