Melupira89

Melupira89

Weekly session just closed which erases the last four weeks of declines and uncertainties, the candle is larger and also seems to express decision. I think it is normal to see movements of this type after quite significant bearish pressure, it is not a clear signal that the correction is over, but we can see it as a beginning or at least an important rebound. The...

Melupira89

This was an anonymous week where the classic capture of margins was witnessed on derivatives, if you go and look at the 1h timeframe, you will notice the "Bart" a new name for a fractal that often occurs on cryptocurrencies, which in any case has no value and is only a grammatical "flourishment", for now. The important thing is that the price has not broken the...

Melupira89

Interesting weekly candle, a hammer that needs confirmation in the next 2 or 3 weeks. These types of patterns require confirmation within the following 2/3 sessions, they represent a retracement in the majority of cases, only if seen on the top or bottom can they represent a reversal, here we have no such scenario, the candle has manifested itself during an...

Melupira89

The price confirms that it has reversed the bear market of 2022. We already knew this thanks to the analyzes of the lower time frames. With the engulfing bear not yet confirmed, the price draws a new price structure above the previous ath on a monthly timeframe, I know this is something we have already seen, but now we have the full picture and it is not something...

Melupira89

6 weeks have passed since the ATH and the last four weeks have drawn bearish closings, albeit slightly. The price remains stuck in this range between 70k usd and 59k usd this week too, after running for 7 months without pauses or long corrections like this one underway. Sooner or later the buyers will show up and the price will resume the underlying trend, so I...

Melupira89

5 weekly sessions have passed since the ATH, if this was a correction we could see an increase in volatility and perhaps even violent bursts, aimed at eliminating as many small fish as possible from the market. This area around 69k usd is a very important resistance, having been a high that lasted 3 years, it will not be easy to break it, something would be needed...

Melupira89

I want to make sure to show how right now, the only way to emerge from this market correction unscathed is to not make hasty decisions. The prices of all cryptocurrencies fell on average between -50% and -70% from the highs, following the Iranian attack on Israel, but I think this is just a decoy, given that wars bring more inflation on goods and services and the...

Melupira89

A triangle is invalidated, another is born and is monitored again. The graphic patterns, as I always write, depict the market's intentions and not the future, they are hypotheses, so they can be invalidated and change scenarios in an instant. Yesterday we had proof of why I am often very cautious and always repeat the same things about prudence and stop losses....

Melupira89

The price has triangulated its direction and now goes to the test of the upper level, to be valid it must respect some parameters including volumes and time. Here we have everything to have a valid triangle, we just need a breakout with above-average volumes. We are in 3/4 of the time calculated from the first retracement to the hypothetical summit, it has been a...

Melupira89

The monthly candle has created a new price structure above the previous ath drawn in 2021. These structures are very important and are calculated on the closures, in this case monthly, even if one had also made one on the weekly towards the beginning of the month of March, was not as homogeneous as this one drawn the day before yesterday, because it was not...

Melupira89

The March Candle closes with approximately +16%, creating a price structure above the previous historical high drawn in 2021. A very strong signal regarding the long term, this favors the bulls in trying to snatch convenient prices until the short period will allow it by correcting on the most important supports. The last price structure that could act as support...

Melupira89

This is a time to be very careful, already having a ready strategy on the possible scenarios that will arise. The price has been gravitating around the previous ath for days, this could mean that the test of the highs could last a while, if we then look at the macd, a slowdown is evident which could indicate an ongoing short-term correction. So far it is going...

Melupira89

The weekly candle that closed yesterday shows how buyers are almost eager to buy on every dip. More fud will be needed to create an intermediate correction (greater than 3-4 weeks), something that could be seen as a small catastrophe by the market, for now the rise does not seem to want to weaken, which happens in trends that have directionality and volatility, a...

Melupira89

The trendline had its importance, the price crashes into it and retraces, I hope only in the short term, otherwise I may have done the math wrong. There is. Nobody knows the future and technical analysis is the study of the past, therefore the probability that this ongoing movement is a short-term correction is high, for the simple context in which we find...

Melupira89

The relative strength oscillator begins to lean towards the alts, after an initial important upward movement in BTC, the alts seem to want to follow the trend. I can deduce this from the fact that for the first time in the last two years, the oscillator has been downwards for longer than upwards, furthermore it has pierced the previous low, therefore added to the...

Melupira89

Correction in progress, macd reporting a new cycle but we knew this well. Now the thing to do is to wait and understand how long this correction will last, because there are still many buyers. The indicator here is drawing a high and agrees with the price, a signal that the bullish trend is very strong, this is in addition to the other bullish signals we have on...

Melupira89

An old trendline drawn on long-term cyclical lows, today seems like a good resistance where perhaps the price will have a small moment of pause, perhaps in the short term (3 weeks - 1 month). Last week's closing above the historical highs or in any case in that area also seems to give continuity to the bullish trend, but here now it is more important to try to...

Melupira89

We haven't seen a monthly candle with a positive closing of more than 40% since 2020. There is little to say here, except that it will be difficult to understand when a correction will arrive, something that many are waiting for, it is not known whether buyers will give the possibility of seeing lower levels, the highlighted area is the one at 58k usd , where...