🔺Currently BTC is in the buy zone but still not looking strong. I'm expecting the price to come down to fill marked liquidity and demand Zone around 58k then real upward moves.
#ALTCOINS Is Alts season canceled for this cycle? The chart tells you "no" it's coming in full force when it leaves the re-accumulation phase. It has been the longest consolidation in history, meaning it will run higher for longer.
#Bitcoin is currently dropping below the support zone. The price is attempting to regain the support area. If the price cannot break above this support area, we might see a move towards the $60,000 major support area. Keep an eye on the price action.
Bitcoin is currently experiencing a smooth decline as it approaches the symmetrical triangle support trendline and the horizontal demand zone, areas that often serve as critical support levels in technical analysis.
The bearish momentum indicated by the Ichimoku cloud adds to the negative sentiment surrounding Bitcoin's price action. Despite this, there is potential for a bounce from these support levels, which could halt the current downtrend and provide a bullish reversal.
However, if Bitcoin fails to hold these levels and breaks through the support trendline and demand zone, it is likely to trigger further corrections in the market, potentially leading to more significant declines in the cryptocurrency's value. .$BTC $MTL $LISTA
The US dollar is currently being rejected by the resistance trendline of a symmetrical triangle pattern, while the Ichimoku cloud below the triangle is acting as support. We need to wait for a successful breakout or breakdown to confirm the US dollar's next move. It's also important to note that the US dollar often exhibits an inverse relationship with the cryptocurrency market.
$MATIC tested the higher time frame support zone and extracted liquidity from there. If the price drops again to the higher time frame support zone, consider acquiring some MATIC for the long term.
Price is currently testing a major support area and needs to hold this level. If the candle closes above the support level, then we may see some bounce from here. If you are opening a long position, then use a tight stop loss.
The #altcoins altcoin market cap (TOTAL2) tested the trendline support and bounced from there, as expected. We already suggested accumulating some altcoins during the dip. A bounce in altcoins may occur when BTC stabilizes.
CKB recently broke through a major support area and is currently retesting it. If the price fails to break above this retested level, we could see a continuation of the downtrend towards the next support area. It's advisable to wait before opening new positions to see how the price action develops.
PEPE is trading within a descending broadening wedge pattern and is currently facing rejection at the resistance trendline. Additionally, the Ichimoku cloud is acting as a significant resistance level. A successful breakout from this pattern would provide a strong bullish confirmation.
#BTC.D played well, as per the analysis, with a breakout. Altcoins have a strong correction in the market right now, with that Index reached the recent highs too, again short-term correction will come, so, don't get into the early as it might be a trap.
Price has rebounded from the support area, indicating a potential upward movement. Consider opening a long position near the support area with a tight stop loss.
The altcoin market cap (TOTAL2) is now approaching the trendline. A bounce may occur after a retest, making it a good time to accumulate your favourite altcoins on the dip.
#BTC.D still hovering below the resistance area forming a Head and Shoulder formation. Well, Index kept on trying to break the resistance, which is not a good sign as alts will dump. Eyes on breakout now, as this might be triple top too, and indicating a correction hint.