Hello everyone,
I am starting this time with BTC/USD as long as it is important to understant the nest move of the king before continuing into a trade, because more or less every time it affects altcoins, either we like it or not.
In the first picture we see the 4h chart of BTC/USD and we can clearly see that is forming a rising wedge, which of course it is bearish. The problem with bitcoin the last weeks is that it has broken upwards many of the bearish patterns and signs that has shown. So this is a little confusing for anyone to understand the market and perhaps predict the next move. One explanation might could be the fact that many people nowadays understant more and more the market, studying about it and this is probably the reason why we might have to search for different strategies.
Continuing into the 15min chart we can see that it has already form a h&s pattern (bearish) with a given buying opportunity around 53500$ and 52500$. If it continues lower then probably we are searching for lower entry points. Never forget that the bullmarket will have an end at somepoint.
Now, about ADA/BTC as many of yoy I think that you consider what is about to happen with that coin, well after the last break out we saw a possible bull flag forming that is now seems to be more like a rising wedge. But we also can see the bearish divergence which of course is in the 15min chart and doesn't mean so much but it is a sign.
Although some bearish signs, the possible reverse h&s there is a reason to keep an eye of that spot as it might continue and test that level again or maybe break it. If it breaks above the level of the reverse h&s then it might meet the high line of the rising wedge and this is a good opportunity for the people who like to trade the range. If it brakes the rising wedge upwards then it might continue higher with hihger highs and why not meet the recent high of about 3200 sats.
I have recentrly watched the movie "The big short" which is a movie from 2015, but I recommend it to you. It will definitely teach you something.
Take care guys!
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Excelente analisis. comparto contigo mi analisis del precio del BTC en temporalidad de 1D. Coincido contigo, que es bastante probable un escenario bajista a corto plazo, en mi opinion, de no entrar volumen al mercado, podriamos estar viendo un retroceso a los 50000$.
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Yes, there is no doubt that we have to keep an eye on BTC. We know that it has broken bearish patterns to the upside, but at some point it could fall.
In the case of ADA the rise is being driven by recent news. It seems that many companies that work with Ethereum will switch to ADA. Tough blow for Ethereum, good news for ADA.
Best regards!
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