Bitcoin buyers preparing for 51 000 and crypto financiers continuing to accumulate. Let’S have a look at that on the charts. What that implies, if we reach those target levels and what we can do in case, the marketplace doesn’t make it there. I know it sounds like doom and gloom, however as an investor, i’m constantly trying to be prepared for all sides of the market, the ups, the downs and the sideways. That’S the only manner in which we can purchase the markets.
The only way you can reveal your appreciation for this video totally free is striking that, like button and subscribing to the channel, you can of course comment your ideas on the market down below and share the video with a buddy, and if you want to go that additional Mile we also have our patreon group down below 16 off yearly memberships and, if you sign up now, you’ll get april for complimentary. We can see in general, the market has been reasonably neutral, however i’m beginning to see more impacts, particularly on twitter.
Undoubtedly, the masses are going to be right at a duration of time as the markets all go up everyone’s going to be right, however then, when it gets to certain peaks, not stating that we’re there yet not trying to put any sort of downer into the beginning, however i’m simply wary at those times when everybody starts to think and talk about the exact same thing truthfully, i don’t believe we’re there yet, but it simply sticks in the back of my mind, and i don’t have any more acquiring times or buy opportunities at the minute, based particularly on this strategy, which i put out in might of 2021. We’Ve been buying at every time the market is 15 or less on the worry and greed.
Good and basic got to come up with some exit methods and, of course, the return at the minute, nearly 33, which is about 6 000. Offered we hold up here at least, we have actually got the little time frames.
Ideally, by the time i put this video up, which is, you know, be rather soon, ideally, by that phase the market just starts to push out for the bulls that is overall, there’s a lot of support and resistance for both sides of the market. Obviously, the target here is 51 000 and the leading end is about 52, where these triple tops came in back in december and late december just recently, i discovered a couple of comments from audiences and tweets of investors just getting a little irritated with how long it’s taking bitcoin To get a move on getting a little bit worried, if we don’t begin moving, we’re going to fall back down now, that may be true, but the main thing i look for is: if the swing bottoms get taken out, it’s fine to be at these levels and Take time time is on our side.
Time is an excellent thing for markets to combine, grow some strength and move to brand-new higher costs. I’m not concerned if we take longer at this time, we just do not want to see swing, bottoms getting taken out since that’s typically where some stops are and that will then turn the market from bearish to bullish.
The weekly charts also looking excellent when markets break through previous resistance and then discover some assistance on top of them all the while volume staying relatively steady, or a minimum of at best, i need to say increasing in volume. Then that’s an excellent sign that we will take on the next higher costs. We want to see some more volume come into this market this week. If we start to head greater and then of course, if we break out of the 48k, some more volume come in too to try and deal with the 50 to 52 000 level. Up until now, we have actually looked at the one hour 4 hour, one day and weekly charts and they’re all still showing up patterns at the moment.
Moving on to all of the cryptocurrencies, we looked at this the last few days and the market is comparable, other than the overall cryptocurrencies haven’t cleanly broken through their january highs, unlike bitcoin, is broken through its january highs right here and is holding above them. The total market caps are attempting to do that themselves.
The excellent news for this is that we have actually broken the sag we’ve broken both of them actually, so you can see the blue line here, that’s from the all-time high to the peak in february, and then the next one is to the peak in december. This is the overall market cap, excluding bitcoin and ethereum’s market cap.
I use these as a method to see how much threat or sorry how much reward is left in cryptocurrencies compared to the prospective threat compared to the downside. Greater highs high lows on the weekly chart to let us understand where we may see some resistance or the markets basically get a pullback of correction possibly for an excellent indication into a greater low prior to they begin to to move away once again.
That was the 2021 bull run, so we got all these numbers from the previous drops and corrections through the 8th btc chart over its history. Perhaps we had another week or two after this point in time, however at the minute we’re getting a little bit of a pullback.
Now it’s not over yet you can see. If we get a pull back and a great push through happy days but yeah, the last two days have actually revealed a little bit of resistance at this 50 level.
I’m just waiting to see how this market responds to the 50. Ethiosd still looking more powerful than Bitcoin, we can see, we’ve got some closes above the drop 50 percent.
You can see the low the high came in in november, so we’ve had this on the chart for a couple of months now and so for bitcoin you can see. It likewise shows on these charts on the overall market caps that there’s still some room for alt coins to keep moving.
That does not indicate that all coins need to move 6 percent. That’S just the total market caps in general, so all queens may still have a little bit of space to move now. Eth on the btc chart, like we’ve seen prior to there has actually been several weeks up before 8th btc gets a correction and, obviously that’s also associating the total market caps and, obviously, there’s some more space for bitcoin to move and bitcoin is still holding. Above the resistance levels here, but if bitcoin breaks down quicker instead of later previously, it gets to the 50. So if it was to head directly pull back from that point, then you might probably say that the alts are going to lack time from from here.
This still appears like there’s a little bit more time left for some old coins to pop off speaking of all coins. Everybody’S incredibly thrilled about ftm at the minute, and so i’m simply looking at this and where can the next resistance levels come in at the moment the next resistance at 1.74, so the market’s had a fairly good move up, however absolutely nothing super strong compared to other cryptos.
You likewise have solana breaking back above its 50 level, which is a little stronger than what we’re seeing with phantom at the moment, however nonetheless, there’s good basics. Fantastic news going on with phantom the markets responded to that, however if i take a larger picture, look so depends on whether you desire to invest in this thing macro so longer term, weeks to months holding out.
Obviously the markets have been up 50 100, depending on which cryptos you’re in, however that’s something that needs to be assessed on an individual basis depending on your own investment plan. I could not see this thing break back above and start to check some greater prices, because well the rest of the market is also moving.
That’s that’s what we anticipate when the old coins are in season, however i’ll simply be a little careful. That ftm has actually moved 3 weeks up, but this this present week hasn’t broken back above recently’s high and march was also lower than february sluggish and january’s low. Overall phantom has been weaker, however of course those relocations can bounce out a little more powerful. It just depends on the time frame short term sure. Maybe we could see a few more gains in ftm, not flooding it whatsoever.
However if you’re, just looking technically on the chart, the lows have been coming in lower while things like bitcoin has been putting in higher lows. You can see january here, you can see february and after that you can see the march lows can be found in they have actually all been greater. So that technically puts it in a more powerful position than something like phantom.
That’S ftm, like i said no fud, simply taking a look at short-term versus longer term, and it does not take into consideration the basics of the task longer term. Just looking at the strength and weak point in various amount of time, depending on how you would like to invest, so that’s what i’m seeing today, i think we still have some more advantage, i’m quite eager to see this bitcoin get to 51 000 to check that significant resistance Level to see what the purchasers and the sellers are going to do at that point, general ethereum is appearing like among the more powerful safer bets as a blue chip cryptocurrency and for the rest of the old coin space. The charts are still telling us.
We can see in general, the market has been fairly neutral, however i’m starting to see more influences, especially on twitter.
Ideally, by the time i put this video up, which is, you understand, be rather quickly, hopefully, by that phase the market simply starts to press out for the bulls that is total, there’s a lot of assistance and resistance for both sides of the market. I’m not worried if we take longer at this time, we simply do not desire to see swing, bottoms getting taken out since that’s usually where some stops are and that will then turn the market from bearish to bullish. Higher highs high lows on the weekly chart to let us know where we might see some resistance or the markets basically get a pullback of correction potentially for an excellent indication into a greater low before they start to to move away again. Eth on the btc chart, like we’ve seen prior to there has actually been several weeks up prior to 8th btc gets a correction and, of course that’s also lining up with the total market caps and, of course, there’s some more room for bitcoin to move and bitcoin is still holding.
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