My Technical Analysis

By Biologist25 | Tech. Analysis | 1 May 2022


We have not seen a voluminous reaction at the $BTC macro level for now. The volumes on the stock exchanges are down 90% compared to this time last year. With 75K USD volume, the exchange is 7.5K USD volume this week.

It is very difficult to determine the direction in this lack of volume, and we move both horizontally and at the support levels in the channel. This lack of volume will bring absolute volume very soon. At this stage, accompanying the direction and trading momentum may be the right trade. Below, 36.2 emerges as the next support.

It is among my high expectations that it will mirror the fake move it gave at 43 by going below 36.

I'm not taking a position, a little more resolution and according to the weekly close, if the macro signal is triggered then I will think about it.

I think that's the long-term picture.

 

ETH Graph
$ETH 2711 is still in my expectation as a closer target a contact here and even a contact to 2550's which is the gray block.

Since I made this inference according to the macro and weekly chart, the process should be considered on a basis that can last up to the next 3-4 weeks.

If you are looking at the weekly chart, you should only open a position at the extremes, not the middle position 🙂 eg. You can look at a reaction from 2711 or a reaction from 2550. If you enter a short here, you will wait for support or resistance.

 

LUNA Graph
$LUNA has moved up to weekly resistance and I don't see any new ATH. We said that if there is a rejection at the level of 100 USD, this means reject in all subs, and this week has been the week when the subs fell in general.

The daily chart around 81 may produce some reaction, maybe up to 88, if it doesn't and if there is a closing below the trend, we will go down to 76's.

 

FTM Graph
I'm not convinced the $FTM bottom formation is complete. 0.87 and 0.74 are two better candidates in terms of bottoms. When I look now, we have descended to this range, it was a successful analysis ✅ A reaction may come from 0.74 's, if there is a reaction, it can extend to 0.87 and 1 USD.

If 0.74 does not act as a bottom, the support I see in general here and in many coins will be broken and there will be serious decreases. We are entering a period where we need to be very careful.

Let me look at one more altcoin so I can interpret the overall altcoin chart, I'll probably see similarity there too.

 

AVAX Graph
$AVAX has support around 63, if it can't hold on a daily basis, we'll talk about 56 and 50.

Take it easy,

It is not investment advice.

 

Graph Source: Tradingview

 

Note: This is my first post on publish0x. I hope I did everything right. Thanks for your support

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