MT4-trader

🔥 THE BOTTOM IS IN! 🔥This weekly chart is EXACTLY what smart money looks for before accumulating! SKL just printed 3 CONSECUTIVE GREEN WEEKLY CANDLES for the first time since November 2024! 📈💎 MACRO REVERSAL SIGNALS:Clear double bottom formation at $0.020 (STRONGEST support level)Weekly RSI turning up from oversold territoryIncreasing volume (104.02M) on green candles = ACCUMULATION PHASEThree-week uptrend breaking the 6-month downtrend pattern🚀 BITE PROTOCOL CATALYST:The timing couldn't be more PERFECT! While the chart shows a technical reversal, Skale's BITE Protocol provides the fundamental catalyst that could send this FLYING! No other L1/L2 has solved the MEV extraction problem this elegantly!🔮 WHAT THIS WEEKLY CHART TELLS US:We've completed the "Smart Money Accumulation" phaseMajor resistance at $0.035 (once broken, expect rapid moves to $0.05)Previous bull cycle took SKL from $0.02 to $0.08 (+300%) in just 4 weeks (Nov-Dec 2024)Current setup is IDENTICAL but with stronger fundamentals!⏰ THE WINDOW IS CLOSING:Weekly charts don't lie - whales have been quietly accumulating since March! Once we clear $0.03, expect FOMO to kick in and drive this to previous resistance at $0.08.The weekly timeframe CONFIRMS what the technicals already told us - SKL is primed for a major move up with the BITE Protocol as the perfect catalyst!Don't miss the chance to buy at these prices - they won't last! 💰🚀#SKL #WeeklyAnalysis #BITEProtocol #CryptoGems

On the weekly chart, SKL/USD has been in a prolonged downtrend since its all-time high in 2021. However, the price is now in extreme oversold territory, as indicated by the Relative Strength Index (RSI). Historically, such levels have preceded significant reversals, suggesting that the downside momentum may be exhausted. The current price action is consolidating near a strong support zone around $0.03, which has held firm multiple times in the past.On the daily chart, SKL/USD is showing signs of a potential bottoming pattern. The RSI is also deeply oversold, and the price is trading well below its 200-day moving average, indicating that the asset is undervalued relative to its long-term trend.Skale Network’s fundamentals are stronger than ever, making the current price levels seem disconnected from its growth potential.

OK, this is not really a suggestion of the upcoming trend, I wrote about my prediction previously (short) and as you can see on this chart, the price is hitting some major resistance right now. It just went upwards too fast, it's just hype and news at this stage and the price of SPOT ETF approval is already priced in.BUT HERE IS SOMETHING NO ONE TALKS ABOUT, and I do mean no one, which is frightening that all these major crypto traders seem to forget this very, extremely important thing. Everyone only talks about how all those funds will suddenly be able to buy the underlying asset. (Newsflash, they can already have safe exposure to BTC) But absolutely no one talks about how this can also influence the selling or dumping of the asset and the control of it's price swings.Remember what happened with first Bitcoin Futures on the CME? It was a big deal, the price shot up and than went downhill from there for quite a long time.Now imagine how easy it will be to manipulate the price with billions of dollars of short selling, especially with Fink's Alladin software. Be very careful what you wish for.

Bitcoin shot up aggressively to a very serious resistance dating back 5 years. I don't think ETF approval will happen so soon (SEC has time until next year) and given the economic conditions and geopolitical climate of today, I think a sell off is coming. It might be best to sell the news/hype.

Bitcoin Might Jump to Retest $30,000 - $31,000 Inverse Head & Shoulder pattern is playing out nicely plus the price is retracing to the 50 and 200 MA in a classic retrace to the support levels. I think it is very likely the price will shoot up to retest the psychological level between 30,000-31,000.

So here we are with a continuation of a bearish outlook. In option 1 BTC retraces to around $20,000 and then tries to retake the 200 MA and succeeds. This is a Goldilocks + Moonboys scenario.In option 2 BTC suffers further losses and retests its previous low and breaks it to retest the previous $10,000 levels. I think this is the more likely scenario.Notice that both scenarios end up with the price going up eventually. I always hope for the best but prepare for the worst.

I don't really know what all the excitement is about. On Weekly it seems like BTCUSD is entering a Death Cross suggesting a longer bear market. The price is fast approaching the 50 and 200 MAs so that will certainly play an important role. In addition Bitcoin finished the week with a lower high and the volume is clearly waning. Therefore, I think Bitcoin will start dropping soon. From a fundamental point of view, I would not be surprised if the Fed decided the markets are too optimistic right now and throw in a 50-point increase to reign in the dollar. That would send shockwaves through all the risk assets.

BTC pullback on a weekly chart clearly testing 200MA. Classic setup for shorts. BTC could fall to previous 2020 support levels. We might see $14,000 BTC in September or October. Then it might go even lower in a black swan scenario. Brace yourselves. Not financial advice.

TECHNICAL: The price of AKT is testing the 21 Moving Average in a bearish sentiment. Notice the huge spike in selling volume few days ago (it's a daily chart) From my experience such huge selling volume leads to much deeper falls that can last weeks. The price channel is moving south and currently there is no indication that it will change in the near future. Let's revisit this in a few days to see if the 21 MA gets broken to the upside. FUNDAMENTALS: The AKASH validators have voted to substantially reduce staking rewards to cap token inflation but this may turn sour when current stakers decide to leave and future investors will feel disincentivized to invest. This may add to selling pressure. Not financial advice.

In 2018 and 2020 the price of Bitcoin went below its 200 Moving Average. Now is 2022. In both cases the price dipped below its 200 MA and then pulled back above it on the weekly chart. In both cases this low level was retested in the next weeks. I suspect a similar scenario is playing out and this will most likely take Bitcoin to around 25,500 in the next few weeks.