- Hello All,
- Hello All,
- As you all know it's time of the year again where bigcaps,midcaps,lowcaps shitcoins pump hard 2-10x in every exchange markets.
From Bitcoin to Dogecoin,almost every coin is getting Global attention with Fomo news,filling the crypto community with Euphoria yet again!
1$/doge and It's market cap will be 125,380,911,593$. know some ppl are not serious but I've seen newbies took those tweets to their hearts and invested doge after 200-300% pump which has very high chance of losing their hard earned money.
From my 3 year experience in crypto,whenever people shill the coin targets unrealistically in an altcoin bull market which usually lasts for 1-4 month every year,we have to realise that the top is really near around.Sometimes we keep buying top of other ppl bags and keep making profit due to luck but we will suffer from consequences when luck has finally run out!
The year 2020,as BTC halving has been bullish for crypto market and altcoins rallying hard,(Yes Fundamentals are great!) but we need to be very cautious as the market can crash 30-50% in few hours or even minutes! Yes,I'm serious about this.
Here take a look at this pic.
I'm not saying that market will 100% surely dump between July and August but we should take this fact into consideration if we want to keep our profits from this bullish market or market will take away all our gains in a blink.
Now I hope you all realise that history CAN repeat again despite all the fundamentals such as Bitcoin halving and 'Defi Boom' .
Let us ignore the noise of the social media shills to avoid buying at the 'Potential Top' of the market.
It's better to miss out on 'potential' profits than lose our funds.
Now,let us double check this 9 year Bitcoin history performance stats with chart analysis.
I'll be using 3 Bitcoin charts from Bitmex 'System Overload' Platform .
This is a Clean Bitcoin Weekly chart with Red boxes acting as resistances and Green boxes acting as potential support area.
1st weekly Resistance happening to be around 10,165-10,404.
2nd weekly Resistance happening to be around 11,471-11,549.
For support,It can range large between 7,700 for midterm view (can even wick to 6,666 zone).
I've included Stoch RSI/RSI and 50/100 EMAs +Fibonacci retracement in this chart .
50 EMA(red) support happening to be around 50% Fib retracement number approximately around 8,500.
100 EMA (Blue) support happening to be around 7,600.
*When we look at Stochastic,we can see a bearish cross some weeks ago and we can see it is preparning to cool down.
I have included MACD in this chart to compare it with Stoch.
MACD weekly is about to cross bearish so becareful with ur holdings/trades.
BTC has been trying to clean Break Psychological zone 10,000 (not by wick) a couple times since May and close above First resistance zone on weekly (10,165-10,404) however It has been successfully manipulated by Bitcoin whales to wick above 10,000 to trap breakout traders in buying above 10,000.
This is just pointing out the potential Bitcoin correction which can make history repeat itself, no financial advice given.
- However for Bigger view,I believe Crypto market can continue to stay bullish till 2021-2022 after short term corrections
Take a look at total marketcap chart .We cant do the charting on every matter but at least we can try to estimate the potential.
MASSIVE Volume injection into the crypto market happened in May,Biggest candle spike we ever had in history (wash trading by whales?)By taking a look at monthly chart, TOTAL MarketCap seemed to have claim the Green box as support and now trying to stay on it to hit on the Red box later this year or 2021.
Analysis of 3 most BULLISH Coins in recent market
Chainlink ($Link) ,RenProtocol($Ren),Aave ($REP),Argur ($REP)
Chainlink pumped 100% from July 1st to July 14th as traders are buying DeFi coins as they're becoming mainstream
I have also predicted a similar outcome but link overachieved.
- LINK Broke ATH by pumping another 100% and put itself into top 10 Coinmarketcap but you will keep seeing Link marines hoping for more pump.Currently it has shooting star candle forming (bearish),so do not buy it at the top ,there will surely be a chance where it will come back down to earth.So this should be a pretty good advice to stay away from Link for now until it retraces
REN also had an amazing 'Defi pump' but gets less attention than LINK.
As you can see in this REN chart,RSI hit the top horizontal area after 150% pump in 1 month and now its' going to drop hard ,where stoch rsi starting to make bearish cross.
So if you see ppl shilling it anywhere around this price,just ignore it .Greenbox should be a great buyzone if it won't drop more than that .
Lend had amazing 130% pump just like other 'Defi' coins but what is so different about it?
This coin has been pumping since 2019 December (20 sats) to 2400 sats now (Early Insiders accumulation?)
Yes,that is 100x gain,if you invested 1$ in LEND at 20 sats,u would have 100-120$ by now.
The chart looks like great cup and handle formation.But if we dont think deep enough ,and just buy it based on the chart,we can lose alot of trading funds.Be very careful because I believe this coin is being pushed by whales so they can dump many of their holdings in 1 click and still profit alot of satoshis.
So in the end,I want to remind you that these bullish crypto markets can make you euphoric but dont get carried away or you could suffer from consequences when BTC decided to flash dump 2000$-3000$ if history repeats itself once again.
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Good luck to all!