3 Altcoins Primed to Soar in 2021 (BAT, ZRX, SNT) From a purely technical perspective, the following 3 tokens' charts have all recently completed bullish divergences, breaking the multiyear downtrend and have rallied above both the 50 and 200 Week EMAs, indicating a longer-term trend reversal. While we are not expecting significant gains in altcoins until later in 2021 or possibly 2022, these tokens appear to have bottomed and are forming consolidation base patterns not far…
May = Seasonally Bullish for Bitcoin? (Weekly Forecast) Bitcoin rallied last week, briefly dipping below the $50K level before quickly bouncing and finishing the weekly candle near the highs around $57K. This is a bullish candle and a bullish close as we look for this bullish momentum to follow us into Asian trading as we kick off another week. (May 2, 2021 8:30PM EST) **Short-Term:** Bitcoin turned around in a big way, finding support last week and recovering over half of…
ETH/BTC: How Close to Bull Market Top? (Weekly Forecast) Ethereum broke out, breaking above the $2,500 level late last week and north of $3,000 early on Monday. This is extremely bullish as ETH has pushed to new ATHs in USD and BTC pairings, and is now closer to larger, more significant price targets such as $5,000 and 0.1 ETH/BTC than 0. (May 3, 2021 8:30 PM EST) **Short-Term:** ETH's USD breakout is great but the more significant accomplishment is breaking above the 0.05…
Is There Something Wrong with Bitcoin? (May 5 Forecast) Bitcoin fell on Tuesday, reaching up to the $57K level before pulling back, bouncing off the 50 Day EMA and closing the daily candle under $55K. This is a bearish candle as BTC continues to struggle around the 50 Day EMA, indicating a possible break lower. (May 4, 2021 8:30PM EST) **Short-Term:** If Bitcoin breaks below the 50 Day EMA, we'll be looking for support levels at $50K and ~$47K, a fib retracement. Ultimately,…
Will Altcoin Profits Flow Into Bitcoin? (May 6 Forecast) Bitcoin rallied on Wednesday, breaking a bearish two-day streak and rallying up to $58K before closing the daily candle around $57K. This is a bullish reaction and very much needed as BTC needed to find support at the 50 Day EMA else face jeopardizing the short-term uptrend. (May 5, 2021 8:30PM EST) **Short-Term:** Bitcoin recovered nicely on Wednesday, bouncing off the 50 Day EMA and putting in a higher high relative…
Best Performing Asset of COVID-19? Crypto v. Stocks v. Commodities From March 2020 until now, what's been the highest-performing asset of this COVID-19 pandemic? Let's take a look: March 2020-May 2021 Weekly Chart (% Change). From lowest to highest % gains: **Gold: 20.9%** **Dow Jones: 80.1%** **S&P 500: 82.2%** **NASDAQ: 94.6%** **Silver: 116%** **Russell 2000: 121%** **Bitcoin: 867%** **Ethereum: 2746%** What conclusions can we draw? 1. Gold is **not** a hedge/flight to…
ETH/BTC Tests MAJOR Historical Resistance (Weekly Forecast) Ethereum picked up where it last week left off, rallying and slicing through resistance levels with ease. One large green candle after another pushed ETH over the $4,000 level up to about $4,400 before pulling back a bit, with ETH now hovering around $4,200. ETH is overbought by a few technical measures, but that isn't necessarily a sell signal in the thick of an explosive bull market. (May 12, 2021 8:30 PM EST)…
Bitcoin Dominance Enters Multi-Year Low (May 17 Forecast) Bitcoin tried to recover on Friday, drifting higher above the $51K level before getting rejected by the 38.2% fib, falling back below $50K to close the daily candle around $49K and change. This is a bearish candle in response to yesterday's selloff in which we broke below the 50 Day EMA, so all eyes will be on support at the 50% fib around $47K. (May 14, 2021 8:30PM EST) **Short-Term:** Bitcoin broke below the 50 Day…
OMG/BTC Weekly Chart = Point of Maximum Financial Opportunity? Gonna keep this one short. The OMG/BTC weekly chart shows OMG is near the bottom of its price range, barely above its all-time low in 2020. Following the massive 2018-2019 bear market in which most altcoins retraced 90-95% (or more), OMG indeed bottomed out and has formed a large basing pattern over the past 2+ years and is finally starting to form the right-side U pattern. While OMGUSD has appreciated quite a…
BTC Dominance at Multi-Year Low | Bottom's In? (Weekly Forecast) Bitcoin fell last week, initially recovering a bit before selling off later in the week amid FUD surrounding Elon Musk-inspired Bitcoin mining environmental implications, falling underneath the $50K level and even dipping down below $44K before ultimately closing the candle above $45K. This is a bearish candle and a continuation of the early May selloff, getting us closer to testing a major long-term support…
Bitcoin Dominance at Extreme Low Levels (May 19 Forecast) Bitcoin fell again on Tuesday, initially rallying just over the $45K level before pulling back, closing the daily candle around $43K. Afterhours we've seen BTC drift to a lower low, now within striking distance of major support at the $40K level. If BTC breaks below this level, all eyes will be on the 200 Day EMA just below; else we have to consider a change in the overall trend. (May 18, 2021 9:30PM EST)…
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Bitcoin Enters "Bear Trap" - Accumulate Now? (Weekly Forecast) Bitcoin sold off viciously last week, dropping about $20K and posting its first $10,000 daily candle as it dropped from $50K to ~$43K, then the following day to $30K. This is an extremely bearish candle obviously, as this indicates the end of a trend, though the question becomes: Is this the infamous "first sell off" in a market cycle? (May 24, 2021 8:30PM EST) **Short-Term** Bitcoin capitulated late last week…
Buy Now or Wait for $20K? (Weekly Forecast) Bitcoin struggled again during the week ending May 30th, initially rallying a bit to the $37K level before the sellers stepped in, pulling back to the 50 Week EMA. This is a bearish succession of candles, of course, however, the uptrend remains well in tact as long as BTC continues to trade above the 50 Week EMA. (May 29, 2021 8:30PM EST) **Short-Term** All eyes are on Bitcoin as it continues to drift back down towards the 50 Week…
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