$BEAMX is breaking ATHs and in price discovery, $MATIC is also pushing yearly highs. Beam's tech stack and scaling solution is built on Immutable zkEVM and powered by Polygon. These 3 projects usually run together, and so far IMX has been lagging behind.
The gaming narrative has been consolidating for more than 3 weeks now and the rotation out of memecoins may flow into the strongest gaming alts. Asides from memes, gaming may be the easiest narrative for retail to understand and rally behind.
IMX has been in a range since Feb 14 and is poised for atleast a retest of the top side of the range at ~$3.5. Short-term targets upon break of range at ~$4.15. Invalidation upon a daily candle close below $2.96.
$BTC is about to close its ATH monthly candle in 13 hours (previous ATH monthly close was ~$61,300 in Oct/Nov '22).
The ETFs have ramped up inflows the past two days, with the last 2 days having the biggest volume since launch. I expect the inflows to only accelerate from here as the recent price action netted lot of early buyers in profit - which further compounds the network effect of sideliners wanting exposure to BTC.
Weekly and daily RSIs remain in the bullish control zone with a fresh cross >70 on the monthly. No sell order blocks >500 on any exchange orderbooks and liquidation heatmaps are empty above current price as nobody wants to short these bullish conditions.
The next level for BTC to test is the wick ATH at $69,000 and it's a high probability we'll get there in March/before the halving.
$PORTAL just filled my limit orders (teal) as it broke out of the downwards trendline and going for a retest. Invalidation and SL on an hourly candle close below $2.28.
Be careful trading brand new tokens as it's super high risk. Portal has a few catalysts coming up such as staking, launchpad, nodes, and airdrops. The series of news should bring bullish momentum. No TP targets as there's no price history, I'd only risk the same amount of capital as you would aping into a new memecoin.
$AR is presenting a great entry right now for those who missed the run-up. Broke out of its downward trend and reclaimed the hourly SMA9 (green) and EMA21 (red), with a cross about to happen in the next few hours.
AI has been running today (eg. FET/AGIX), and usually DePIN runs right after (eg. FIL/AR). Overall bullish on AR after their AO onchain compute announcement and it should have the bullish momentum required given BTC price action.
I would look to exit the trade if it closes an hourly candle below the EMA50 (blue). Otherwise, my TP target is $39-41 which lines up with previous weekly resistance back in Feb-Mar '22.
$BTC smashed right through the range I set in yesterday's post at $58-59K and is currently retesting the top of the range. Capital rotation is starting to pump alts, noticing $SOL , LINK, PENDLE, APT, and $SEI having an immediate reaction. (I'm sure there's many more but I only have ~40 coins on my watchlist).
Ideally we'll see a consolidation above $59K and allow time for alts to catch up. The BTC.D is also reaching a key resistance level and may retrace to give alts a push. Next target to hit for BTC is at $60.5K which lines up with the 78.6% on the daily HDPR bands.
$BTC Are we witnessing a break of the 4-Year Cycles? There's considerable debate regarding Bitcoin's 4-year cycle and its outcomes. This brief delves into the technical aspects of these cycles, emphasizing the importance of understanding the patterns for different probablistic outcomes.
4-Year Cycle Pattern: Bitcoin has consistently exhibited a 4-year cycle pattern since its inception, characterized by precise intervals between its peaks and troughs:
2013 peak to 2017 peak = 1477 days 2015 trough to 2018 trough = 1428 days 2017 peak to 2021 peak = 1435 days 2018 trough to 2022 trough = 1428 days
On average, significant points in Bitcoin's cycle occur roughly every ~1400 days. Projecting this pattern suggests the next peak in Q4 2025 and the following trough in Q4 2026. However, emerging trends indicate a deviation from this projection.
Halving as a Bullish Catalyst: Bitcoin's halving events historically trigger a parabolic phase, though their impact is diminishing due to the high percentage (>90%) of Bitcoin already in circulation. Notably, Bitcoin has breached the 0.618 Fibonacci level in the current cycle, a departure from past patterns.
Left-Translated Cycle Dynamics: A left-translated cycle indicates a peak occurring before the cycle's midpoint, suggesting a shorter cycle if the ATH is surpassed before October/November 2024. Despite rising global liquidity, a prolonged bull market extending to late 2025 is deemed unlikely, given institutional investors' profit-taking strategies.
Conclusion: Market patterns, once recognized, tend to be preempted by traders. Current indicators suggest a left-translated cycle, urging an adaptation to market dynamics. High Time Frame (HTF) analyses remain bullish for Bitcoin and altcoins. The recommended strategy is straightforward: buy spot, ride the trend, prepare for dips, avoid leverage without expertise, and exercise patience.
$INJ is one of the strongest looking charts today, about to break a major resistance at $40 where it lost as support back on Jan 17. If the momentum continues, INJ should start trading between $40-45 again over the next few days.
After a 2.5 months of consolidation as $BTC and rest of the altcoins ripped, any bullish reclaims of key levels are not to be ignored.
The probability is high that INJ will spend very little time in the $40-45 zone before breaking out to the first target (pink box) of $68-70 (measured move of the consolidation range), and eventual mid-term targets of ~$95-100 where psychological resistance for whole/round numbers will likely come into play.
$BTC What's next after this massive breakout? After consolidating for 2 weeks above $50K, BTC has printed a god candle to the upside backed by substantial volume. It only stopped temporarily at the $54K resistance before smashing through it. Currently BTC is in the middle of nowhere, and 3 possible scenarios can occur:
1) Extremely bullish case - BTC climbs up to our eventual target of ~$58K then consolidates while altcoins catch up.
2) Very bullish case - BTC comes down to retest the $54K as support before making its way up to $58K.
3) Bullish case - BTC comes down to retest the top of the previous consolidation range at $53K before climbing back up to $58K.
There is no bear case in these market conditions - any dips are an opportunity to buy. $ETH and its BTC pair has broken out of a major HTF trend and the majority of altcoins look like they're about to go on a massive run.
$BTC The ascending triangle pattern we previously spoke about has been invalidated. BTC broke twice to the downside, outside of the triangle, but there was no follow-through and no sell volume to back it up.
The RSIs are continuing to trend lower while BTC is making equal lows within the range, which means BTC will likely consolidate as RSIs reset to the bottom.
Wicks down to grab liquidity just below at $49,600 is expected, but as long as we don't close a daily candle below range lows of $50,600 then I'm still not expecting a major correction, and eventual break to the upside is more likely.
$BTC has reclaimed the ascending triangle after a fakeout to the downside, where it convincingly held the 4H 50EMA / 12H 21EMA as support. More importantly, BTC is now above the SMA9 on a fresh daily close, and the bull case remains for rest of this week, also driven by an expected market-wide rally due to NVDA's ridiculous earnings beat.
The 4H Stoch RSI has curled up out of the oversold territory, and we should see a break of the ascending triangle before end of week, first there's a small resistance at ~$54K for a SR flip, and then onwards to the eventual target of ~$58K.
$BTC had a strong recovery after dipping to the hourly 200EMA and now is back in the ascending triangle. Liquidity on both sides were grabbed and funding rates were reset across the board. This next push up to break the triangle will be a lot healthier than before, still looking at a measured move of ~10% up to $58K as the next target, which lines up with the .786 extension and top of the 61.8% HDPR bands.
$BTC has formed a bullish ascending triangle pattern for the past week and liquidity have built up a tight range on both sides of the breakout/breakdown. The pattern gives a higher probability for an upside resolution, with a measured move up of ~10% up to $58K.
$ETH /BTC has relcaimed an important 0.055 level and we may see alts continue their run this week as BTC consolidates within the ascending triangle.
BTC's 2/4/12H Stoch RSIs have bottomed and ready for the next attempt to push up. We'll likely see a resolution by end of this week before Friday.
$BTC is attempting its 5th breakout of the $52,500 resistance! The more times it hits the resistance, the more likely it is to breakout. This time, it's also backed by an upwards RSI, lower Stoch RSI levels (a lot more fuel in the tank), and a break/retest of the descending triangle pattern.
There are some liquidity and sell-orders at $54/56K, but no resistance on higher timeframes until $60K. $ETH and alts are running hard as well with BTC.D in a downwards trend, and $ETH has a much better looking chart than BTC. If you're already positioned in alts, I'd look for key TP levels at the 1.272/1.414/1.618. Don't FOMO into the market now!
$BTC is consolidating within a tight range between $51.5-52.5K and is gearing up for its next move as RSIs reset to the bottom. Alts are giving back some of their weekly gains but holding key bullish retracement fib levels at .382/0.5.
If BTC loses $51K on a daily closure then we may have a small short-term correction. But overall the liquidation heatmaps have not changed and there's almost no liquidity above current price action. Higher probability that BTC goes sideways for rest of the weekend and continues to climb up when ETF inflows resume on Monday. Still targetting ~$60K before end of February.
$BTC as predicted in my last update, BTC just took out the 51-52K levels and liquidated late shorts. Before it pumped up, it first dumped to grab the liquidity at 48.6K, so now both sides are resetted. There's no resistance for BTC to test ATH of $69K from here, so lets focus this post on higher timeframe fundamentals that will continue to drive BTC price.
The net ETF inflows has accelerated over the past week, if net new money comes into BTC then we should see $69K before the halving. The other catalyst is traditional markets, where the major stock indices are continuing to push new ATHs, which greatly influences BTC price. Stock markets have always seen incredible gains during US election years, so we expect the upwards trend to continue for a while.
If you're not already in the market, I would say $ETH and beta-plays like LDO/OP/ARB/PENDLE are great buys on any .382 fib pullbacks. I still think ETH is underpriced and it should be atleast $3000 right now.
$ZETA Congrats to anyone whose still in the trade with me since $0.90! I'm holding ZETA long term, my first TP target is $5.56 based on fib levels, but will keep most of my position throughout the bull run. I believe it will run to $15-20 minimum within 12 months!
$BTC still showing strength as its been bouncing off the 4H 9SMA on this rally. Weekends are generally low volume, and after such a big move to $48K, we may see BTC consolidate for the next day while certain altcoins rally.
Stoch RSIs on the 4H have pretty much reset, but could go slightly lower and have BTC tag the 9SMA again. High probability that BTC marches on to yearly highs from here and grabs the liquidity at $51K. Medium probability that it loses the $47K level and consolidate between $44-47K before another move up. Low probability it retraces to $41-43K.
$BTC has closed a daily candle today above a critical level of $46,500, which is the pivot level for all higher TF RSIs. The daily is now just entering the bullish control zone >70. The liquidity is stacked below from $41,500-43,000 while it's around $51,000 above. BTC looks to be conslidating at the moment while altcoins are having a run, and if BTC holds above the current $47,000 throughout the weekend, I expect a move upwards. Otherwise, I believe BTC will dip quickly to grab the liquidity below, which also lines up with the daily 100EMA (purple). Overall, based on the RSI/Stoch RSI/MAs and the accompanying volume, the probabilities of an upside move is more likely.