News
2 December 2022
News
25 November 2022
This Week in Crypto: All Eyes on Genesis
Bitcoin and other cryptocurrencies continued to trade sideways throughout the week, with the world’s largest cryptocurrency stubbornly stuck around the US$16,000 level for now. At the time of writing, Bitcoin (BTC) is trading at US$16,504.48 (-1.41%) while Ethereum (ETH) is trading at US$1,186.92 (-1.21%). Major altcoins such Solana (SOL), Avalanche (AVAX), and Polkadot (DOT) have […]
Ethereum
23 November 2022
Blocksmith Says: Swift Zig-Zag Decline for ETH in December
Ethereum – overall, macro risk is wandering through a low magnitude cycle bounce (20 day cycle) within a broader downtrend. In these circumstances, the burden of longer falling cycles tends to squash countertrend rallies quickly and make them peak earlier and trough later. ETH has just passed through a 40 and a 20 day cycle trough […]
Markets
22 November 2022
Blocksmith Says: DXY Bottoming, Bad News For Crypto
Dollar Index (DXY) bottoming? The dollar’s direction is key to macro rotation at the moment and my view is that US dollar will rally, which is negative from crypto. I have plotted two FLDs, one for the 80-day cycle (blue) and the other for the 40-week cycle (green). The downside price cross of the 80-day FLD on 30 October (X) tells us […]
Markets
21 November 2022
Blocksmith Says: BTC to Crash Even Lower
Bitcoin at 240 minute level looks be constructing a downside continuation triangle. This is an Elliott Wave theory pattern that consists of 5 three wave moves: A, B, C, D, E, and starts forming typically after a very sharp price drop. The implications are bearish and once wave E completes (and that will be a final […]
Ethereum
18 November 2022
Blocksmith Says: Expect Sharp ETH Downside
A short note for end of week as no meaningful change in macro and crypto analysis stance. ETH at hourly level almost certainly in a triangle pattern, which should resolve sharply to the downside. A downside triangle comes immediately after a strong and swift price decline. Its direction of travel is sideways and there are […]
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