- Huge capital movements between portfolios indicate that preparations are made on the battlefield.
- The general weakness invites us to think of new lows.
- Both sides of the market are hesitant in the short term.
For several days we have received notifications of movements at very high volumes that raise capital from cold portfolios to the open market. The whales are accumulating ammunition. We can be at the door of crucial moves.
Start the day by taking a look at the graphics of the main actors on the Crypto card and the feeling I experience is a mixture of excitement and doubt. Excitement because thanks to my experiences of "Scalper" I am in love with the volatility. In Doubt because I am aware that we do not know the lower limits of the current bear market.
Why do I say this? The first thing that came to mind looking at the charts is that it is very likely that we will see new lows in the next few hours. Everything is aligned to make it happen.
First of all, we have several cross-indicators, which have triggered a significant amount of purchases. Many of these purchases in the minimum price range will have, as it should be, protection stops. If the market falls to new lows, this Stop Orders will accelerate the fall.
Secondly, we see that the structures of the chart are divergent with the indicators. These types of scenarios are very likely to break the levels as there is room to do so without canceling the bullish moment.
Finally, because it is now relatively cheap and easy to shake hands with less experienced HODLers and collect their Cryptos at discounted prices.
This scenario of new lows can offer us opportunities to buy at the same price as the whales, but to do so we have to think like them.
The key idea for the coming days could be that in the moments of greatest fear the best opportunities arise.
Do you want to know more about my technical configuration?
BTC / USD 240 minutes.
The BTC / USD is currently trading at $ 3,819 Price level. A close below this level could bring the price of the BTC / USD to annual lows.
Moving averages continue to point downwards and leave ample space for the continuation of the current downward dynamic.
Under the current price, the first level of support is a $ 3,466 (annual minimums). Some dollars below this level should be the protection stops of recent purchases. If the BTC / USD drills this Stop level, the second level of support is a $ 3,275 (support for price congestion). Once this new annual minimum is reached, the clear bearish target would be to pierce the critic $ 3,000 level, for which the third level of support a $ 2,890 (support for price congestion) would be perfect.
To reverse this bearish forecast, the BTC / USD must first beat the resistance level a $ 3.929 (resistance to price congestion). This price level signals the boundary with a short-term secondary scenario. The second level of resistance is at a confluence of barriers between $ 4,030 (EMA50) $ 4.174 (SMA100) e $ 4,400 (resistance to price congestion). If it reaches this price level, the BTC / USD will be in an excellent position to overcome the third resistance level a $ 4.921 (resistance to price congestion). To declare this scenario as bullish, the BTC / USD must exceed $ 5,300 Price level.
The 240-minute MACD remains very flat with both lines practically at the same level. It does not have the bearish slope we saw in the BTC / USD.
The 240-minute DMI shows us how the bulls retreat in the last hours. Bears remain at higher levels of activity even if they retire. It seems that neither side of the market has a clear short-term vision.
ETH / USD 240 minutes.
ETH / USD is quoted on $ 107.6 (support for congestion). The apparent weakness of the Crypto market places the goal of breaking the $ 100 within reach of bears.
Below the current price, the first support is a $ 100.97 (annual minimums). If the ETH / USD moves to this level of support and resists, the signal to the market would be a positive reinforcement. If you lose this line and see ETH / USD trading below $ 100 level a new bearish acceleration scenario will open. The second level of support is a $ 94.5 (support for price congestion). The third level of support is a $ 81.3 (support for price congestion).
Above the current price, the first level of resistance is a confluence of barriers between $ 115 (EMA50) $ 121.5 (SMA100) and the price level of $ 124 (resistance to price congestion). The second level of resistance is well above $ 155 (resistance to price congestion). The third level of resistance is a $ 160 (SMA200).
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