Elliott Wave Analysis & Altcoin Market Impact ? This analysis isn’t just about the current structure but also hints at the potential effects on the altcoin market: 1️⃣ Bitcoin Dominance Shift: As the ABC correction unfolds, Bitcoin's price might see temporary weakness. Historically, such corrections often lead to altcoins gaining traction, as capital flows out of Bitcoin and into altcoins. 2️⃣ Altcoin Surge Post-Wave (C): During Wave (B), altcoins could face short-term pressure as Bitcoin attempts a retracement. However, during Wave (C), a sharp drop in Bitcoin could ignite a relief rally in altcoins, as traders shift their focus. 3️⃣ Key Levels for Altcoin Traders: Watch for Bitcoin’s break below the 1.618 extension (near 3.70%). This could act as a trigger for a significant altcoin rally. Dominance charts and volume spikes will help confirm the momentum shift. Conclusion: For altcoin traders, this structure provides an opportunity. Short-term caution is necessary, but a potential altcoin breakout could follow if Bitcoin completes its correction successfully.
Hi sharing the short position I have entered, will share trades more often for thoughts. To lazy to write much of a TA this time around - but read text on chart. Generally - As always at least remember, and it has been and will be for a long time - crypto is volatile as fk. So should the trade work, the markets probably dumping. Always observe price action, it's nice to hit a wick entry as i usually do (heh), but its nicer to profit. A safe entry, one where the price action following (noting volatility) confirms your trade entry is always better than that one guy who had a successful trade with a perfect entry. Charts are beautiful, they reflect human psychology and as a direct reflection of psychology it is subjective, a perfect entry may occur but ultimately whether it is 'perfect' or 'safe' is dependent on what you think trading is and what your criteria is, including your risk appetite and experience. Also, off this point, given it is psychological, trading is also therefore a 'self fulfilling prophecy'. 99% chance you are a small fish, as a small fish please remember market makers (the people with real liquid, that will dump on you and cause liquidation cascades for re-entry for example) understand trading is self fulfilling and can take advantage of this fact. Knowing most retail traders (yes you, the small fish) use support and resistance, you are targeted with the masses. Your entry, your stop loss will be hunted. The markets are manipulated people, never forget that simple fact.
During the weekends we might see a quick liquidity hunt toward the upper zones, where upon the start of next week we might be falling back to current zones. Remember, weekends are not the best times to trade, so stay safe!! (We do not trade during the weekends.) Swallow Team
The S&P500 is approaching the 5914-5892 support range on the one-hour timeframe after a price decline. This area acts as strong support due to previous reactions and a crossover with the 50% Fibonacci retracement level. The price reaction to this support area indicates buyers’ willingness to increase their strength. The bullish candles that will form after hitting this level indicate a possible price reversal. If this level holds, a move towards the targets of 6033 and then 6126 is possible in the short term. However, a break of the support level of 5892 could lead to a further decline and a drop to lower ranges. Traders should pay attention to the price reaction to these ranges as well as trading volume.
Look out for potential c wave as it sits right now we are near wave 4 as long as we don't cross wave 2 There still can be a dip to 82k
According to the number of locked tokens, the number of tokens in circulation and its low market cap and other things, the forward currency has received a positive fundamental tick from our analytical team, and according to the appropriate technical conditions, it is ready for great growth, even up to ten cents only. hold
Let's see if BTC can side way in this channel, this way alts can pump a bit
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Taking into consideration, the market condition for the past 3 months+, we can deduce the trending nature of Xauusd from 2380 to the all time high price of $2,780 before it recorded a rapid decline in price which took 50% retrace of the impulse move to the upside when measured with fibinacci tool from 2380 to 2780. Going into new week. We approach the market with caution. As we watch closely, how market participants are likely to react to the present market conditions. Whether buyers are likely to take up the price higher or this recent pullback is just a setback for buyers thereby making price to dump lower.
this crypto is totally bullish, i will be waiitng for the wave 3