News made market price this Tuesday leading the main cryptocurrency to make a new historical top. Check out TradingView analysts’ studies on Bitcoin and Altcoins.
Gustavo Correa
Note that we are clearly in a bullish channel on this asset.
First, see the first arrow on the left. There we see that touching the bottom of the channel and being supported by the EMA21 on the daily chart, FTM made a beautiful 350% impulsive wave. This took her to the top of the channel.
Now look at the similarity that is taking place on the right side: We see that there was again a touch at the bottom of the channel and that again the price was supported by EMA21 on the daily chart.
If the past repeats itself, we could have a strong impulsive wave of +400% appreciation in this cycle that is starting. This will take us to the top of the channel at around $12. (See more FTM reviews).
Rafael Buffoni
MATIC/USDT broke off symmetrical triangle. We have short-, medium- and long-term ascending, upturned and price-aligned averages, confirming and reinforcing the strong uptrend and buyers’ dominance.
Let’s wait for the pullback to be able to buy cheap and at the best possible point, in a support region and glued to the averages. That way we will have a short stop for a long target. winning That region, the market may accelerate at the buying end, continuing the upward movement. We have as objective projection ~2210 and 3441 (projection of the triangle). Which would give me ~85% profit. (Iideas about MATIC).
Allan Jhones
At the Bitcoin daily chart, we see that after the strong fall of May and the maintenance of the price above the support in the 28k/30k region, we started a wave 1 move, day 21/07, followed by the other bullish impulses of the pattern of Elliott and the sequence ABC (fix) bringing the price back to 40k at the end of September. After that the Bitcoin started a strong wave 1 rally again which stretched to 66,700 and has already formed corrective wave (2) which went up to 57,500. So the pattern suggests that we are just at the beginning of wave 3 which is usually the strongest.
To project the end of wave 3, used the Fibonacci extension tool, taking from the bottom of wave 1, top of wave 2 and bottom of wave 2 of the current move, where we have a stronger resistance at the 0.618 retracement, which would be at approximately 74,600. This resistance would take the correction to the previous top of the current (67k) to confirm as support and make the last rally of the waves of Elliott , which could reach Fibo extension 1618 (kk intimacy) around 101k! (See full review).
Easy Markets
XRP has been consolidating since early October into a flag-like pennant and broke up earlier today. This is not a surprise, given the good performance of the Ethereum in recent times and that has now generated favorable winds for other large altcoins such as Ripple (XRP). Altseason is well launched and the opportunity cost has started to catch the attention of speculators in Bitcoin who now risk less for better returns in other cryptocurrencies.
That said, participants looking to make an entry into XRP/USD should want to wait for another bullish resistance test to the tilted flag to confirm its support around 1.12 – 1.14 USD. On the other hand, if XRP/USD cannot sustain this rally and sell at a lower price for a deeper pullback, then losing a big support at 1.00 USD would be a fall. (More ideas about Ripple).
William SAC
O Cardano chart formed a bullish wedge and confirmed the bullish move with the breakout of the figure and the moving average. It is currently testing strong resistance when the price breaks That resistance we can expect a test at the last top at 3.101. (More about ADA).
Disclaimer: The analyzes presented here are studies only. They are not investment, buy or sell recommendations, nor do they reflect the opinion of the media outlet in which they are being advertised. These are studies aimed at people with knowledge and experience in the financial market.
Our Authors: Gustavo Correa, Rafael Buffoni, Allan Jhones, Easy Markets and William SAC.
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