Monovon

Macro analysis of BTC against the S&P 500 BTC front-ran the S&P top back in Nov 2021. The S&P caught up at point 3. Later, BTC lagged against the S&P bottom and imo is currently still lagging. With both the S&P and DXY at April 22 highs/lows, BTC should logically follow this run up. Never in BTC's history has a "bear market" rally ended without a blowoff top. I believe this is an accumulation phase for BTC before an aggressive move up.

Reverse Symmetrical Triangle An interesting classical chart pattern identified as a Reverse Symmetrical Triangle AKA Megaphone. In the current situation it is bullish as it developed from an uptrend. It will be interesting to see how this plays out.

Is this 9 month rectangle consolidation about to finally breakout for XRP? After its dealing with SEC looking like it's finally about to close, a narrative that's been frequent in the crypto industry may finally have its day in the sun. A weekly close above rectangle may trigger incentives to long.

If something crazy doesn't happen, in about 7 days the 100D MA is going to cross above the 200D MA. Whenever Bitcoin has done that it has put in +30% green Weekly candle. It will send us straight to around 32k. Since time is everything in a market, there's no better indicator to measure time other than moving averages. Have a great week.

After forming a pennant that broke to the downside, a possible reverse head and shoulders pattern is forming on Cardano. It seems to have reclaimed the 0.40 level and is currently holding as support.

Here we can observe an ascending triangle pattern breakout on BNB on the 4hr. It seems as though there was a false breakout that quickly fell back into the range but other than that I think we're good to go.

Normally during Bitcoin season I would not touch alt coins. However, I really like these kind of diagonal candle structures with increasing volume. They usually always break to the upside as the structure of the candles are not curving but moving in a consistent direction. I would expect this pattern to violently break to the upside. Also to add, during Bitcoin season there are some alt coins that do move with Bitcoin and can keep up with its price action. The KAVA/BTC is also looking strong. Have a great week folks.

I personally don't know how or why this coin held up so well during this bear but a support level can only get tested so many times before it loses it. You can almost hear the music playing in the background and goes like "knock knock knocking on heavens dooooor".

Times have changed and there seems to be a bug in the system. Ethereum is continuously outrunning Bitcoin on every pump and that has never occurred in any of the previous cycles.Many of you already know that NFTs have played a major part in the propping up of Ethereums price and with the latest merge, ETH has now moved to a Proof Of Stake mechanism, which inevitably does manipulate the price as it takes Eth of the market and locks it up until the devs see fit for it to be released. After Bitcoin lost a key level (18k-20k), for me the next big target (excluding bounces) was the 10k range and I do believe we will go there. When or how I have no clue but Ethereum is clearly not going to outrun on that occasion and will basically destroy all altcoins in the market. These are the key levels I am watching and have stepped away from the LTF levels as I have no interest. The reason I think these levels will be met is purely based on the NFT market and NFT holders not even considering the possibility that NFT's are still in a bubble. It's the first cycle for NFT's and from what I've gathered they all seem very fine. That's not bearish enough for me... People are still paying 100k+ prices for NFT's thinking that those prices are a discount. I can't fathom how unsustainable this sounds. I am always open to ideas and my opinions are far from gospel. I've been wrong many times but this one hits different. Have a good weekend TradingView fam

November 2021 - November 2022, what a year it has been for all markets. I remember like it was yesterday where people felt nothing (including myself) when that failed breakout occurred. The truth is, no one knows where the market is going and many (including myself) will continue to be wrong. The most important aim is to be right more than wrong.I ask myself, what is the possibility that this is a failed breakdown? Surely a failed breakout can't be redeemed by a failed breakdown? The bear market has been humbling to say the least but I'm open to any and every option my imagination sees fit. It looks bad for crypto but one detail I do know is, Bitcoin generally finds a bottom before the traditional markets do. You wanted scams and ponzis to die? It happened.You wanted Hedgefunds and centralised exchanges doing shady things to go bust? It happened. You wanted billions of dollars to be wiped out of the market? It happened. I guess if we're still here using Tradingview on a daily basis viewing charts, I'd personally believe at this point - We made it! Take it with a pinch of salt friends but we're still here. Have a great week.