2 December 2022
Bitcoin and other cryptocurrencies posted slight gains throughout the week despite news of BlockFi‘s Chapter 11 bankruptcy, with the world’s largest cryptocurrency surpassing the US$17,000 level before paring gains. At the time of writing, Bitcoin (BTC) is trading at US$16,904.57 (-1.41%) while Ethereum (ETH) is trading at US$1,272.34 (-1.21%). Major altcoins such as BNB, Avalanche […]
25 November 2022
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 […]
23 November 2022
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 […]
22 November 2022
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 […]
21 November 2022
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 […]
18 November 2022
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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