Technical evaluation of the finest coins on the marketplace such as BTC, ETH, SOL, AVAX, … for the week (February twenty – February 27).
one. Bitcoin
Frame W (Week)
First, the primary trend in the weekly frame is nevertheless the downtrend with the critical degree (crucial region to decide whether or not or not the trend is broken?) At 42975 – 43700.
The preceding two candles showed that the bulls experimented with to push the rate by way of this critical degree region but failed, developing candles that retreated and closed under. Last week’s candle closed reasonably bearish for the marketplace.
However, the rate nevertheless demonstrates that BTC is nevertheless respecting the thirty,000 help region. Therefore, I am inclined in direction of the path in which BTC will accumulate in this rate array in the close to potential in advance of following a specific trend.
Frame D (date)
The D frame has formed a double upper pattern proper in the region of strong resistance. At this stage, if you are making use of Futures, you can think about seeking for a quick chance when the rate returns to the neckline of the double best pattern (rate region 41800). Of program, be mindful and only keep quick when there are candlestick patterns exhibiting promoting stress.
two. BTC.D (Bitcoin Dominance)
BTC.D is at the moment sideways with a narrowing array in a triangle. We can see BTC.D holding the help really firmly (yellow zone). Additionally, a convergence signal appeared when BTC.D hit reduced lows but AO hit increased lows. I assume BTC.D to move sideways for a further one-two weeks => break the triangle in a bullish path. This is also really steady with the expectation that BTC sideways in the array then bounces back as indicated over.
So, from the evaluation of BTC and BTC.D, if you perform the spot, you can patiently wait for the rate to return to the 29K – 31K region to get.
Note: Always allocate capital appropriately.
three. Some other crucial Altcoins
Ethereum
ETH’s weekly frame is really very similar to Bitcoin, it has fallen into a downtrend, has been rejected at a critical degree, and will probable swing sideways in the 2300 to 2700 array in advance of the trend clears up.
To get ETH, I will divide the capital at 2300 and 2000.
Avalanche
AVAX was rejected for two weeks in a row (region 91-95), the acquiring force has now begun to manifest.
If you shell out awareness, you will see, 1st AVAX sideways in a triangle, then broke but did not reduce but recovered from the $ fifty five region => the getting force for AVAX was extremely huge, creating the model to fail triangular.
Also, two pinbars had been constantly lowered, but this week AVAX opened a stunning green candle => the sellers failed to push the rate reduced.
Therefore, in the close to potential, AVAX could recover up to the 90-95 zone, right here we can shut a component and observe the rate conduct to make the subsequent choice.
Solana
Solana is exhibiting indicators of reaching the minimal (convergence with AO) frame D. You can search to get in zone 90 (wait for the rate to return in accordance to frame 4H), cease reduction of 84 (seven%) and TP in locations 114 – 135 .
SOL’s acquiring power in current days is really powerful. I assume SOL to be a single of the powerful development coins in the close to potential (when BTC is on the side).
ATOM
The day by day (D) and weekly (W) frames nevertheless respect the black trend line. The rate is sideways in a narrowing array, the product sales force is reducing. I will get spots in the 25-26 rate array, 9% cease reduction and get revenue in the 29-33 zone.
Note: if doable, wait patiently for 1D to shut effectively (pinbar, bullish engulfing …)
Above is my view and some of my bets (spots) in the close to potential. If you have any strategies or feedback on trading, never neglect to depart a comment to talk about it!
Poseidon
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