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As traders navigate the ever-shifting tides of the cryptocurrency market, celestial events often play an underrated role in influencing market sentiment and price action. Two such phenomena are the 'void of course' periods of the Moon and the energy of the lunar days, particularly lunar day 27. In this analysis, we explore how these events could converge to create a unique opportunity in the market for BTC/USDT, based on the chart provided.Void of Course Moon: A Momentary PauseThe void of course Moon period is often seen as a time when things are out of sync or when it's better to pause and reflect rather than take decisive action. The red line on the chart indicates the beginning of a void of course period, and traditionally, this could be interpreted as a signal for traders to exercise caution.However, what's fascinating about the chart is the transition from this period into the green line, marking the end of the void of course. This shift often brings a release of pent-up energy, as if the market is taking a deep breath before springing into action.Lunar Day 27: Synergy and ProsperityLunar day 27, which begins as marked on the chart, carries the energy of unity and collective effort. It is considered an auspicious day for teamwork and business endeavors, particularly in the first half of the day. The ethos of this lunar day is about harnessing the collective effort to achieve greater things than could be done individually, which in market terms, could translate to a synergy between market makers and retail traders to move the market in a favorable direction.The latter half of lunar day 27 advises caution with new contracts and deals, suggesting that the market may benefit from focusing on established trends and positions rather than venturing into new trades.Price Action Forecast: A Cooperative ClimbBringing these astrological insights to bear on the price action of BTC/USDT, we see a compelling narrative. The chart shows the price stabilizing during the void of course period, a lull before the potential surge. As the lunar day 27 begins, we anticipate a cooperative spirit to permeate the market, with both market makers and retail traders potentially pushing the price upward.The combined effect of the end of the void of course and the beginning of lunar day 27 could set the stage for a bullish movement. The optimism of lunar day 27's first half is particularly poignant, suggesting that any upwards momentum could be swift and driven by a collective push for profit and opportunity, in line with the day's theme of maximizing returns from existing contracts.Descending Broadening Wedge: A Potential Path to ProsperityAs we marry the astrological perspective with technical analysis, we observe the formation of a descending broadening wedge—a pattern that emerges as prices oscillate between two diverging trendlines. This pattern is etched on the chart, suggesting the possibility of a breakout to the upside. With a calculated target of $71,888, the descending broadening wedge hints at a substantial move, should the pattern come to fruition.However, it's important to temper our bullish expectations with a grain of statistical sobriety: the descending broadening wedge is ranked 29 out of 36 for bullish pattern performance. This ranking points to a higher likelihood that, while the pattern may initially suggest a bullish breakout, sustaining that bullish move is less certain.BTC/USDT Quick Idea Update:The anticipated downward move to form a descending broadening wedge was overruled by unexpected bullish activity aligning with the lunar day shift. The chart suggests a reaccumulation pattern is currently in effect, with the price action nearing a 'Sign of Strength' move. As BTC/USDT approaches a resistance near $68,444. I am seeing declining volume on the current up move, so there's potential for a brief retreat to complete the 'Spring' phase, which could prime the market for a further rally. Traders should monitor this area closely as a pivotal point for the next significant price move.

More like BTC to it's doom and here's why. To be clear, I don't care if it goes up or down. I just trade it and do not hold any.1. Potential Distribution pattern playing out:Identifying the subphases of distribution within the context of the Wyckoff Method involves recognizing the transition from accumulation and markup to distribution and markdown in a stock's trading cycle. Distribution is the stage where after a prolonged uptrend, large investors start to sell their positions to the public before a downtrend begins. This phase is marked by specific subphases that indicate the shift in supply and demand dynamics. For the BTC scenario, here's how to identify each subphase:Preliminary Supply (PSY)Characteristics: An increase in volume and volatility suggests that large investors are starting to sell their shares. The stock may hit new highs, but these are often accompanied by noticeable increases in volume, indicating that supply is starting to overcome demand.What to Look For: Look for signs of increased volume at price peaks and an initial increase in price spread (the difference between the high and low prices in a trading session), which may indicate the beginning of distribution.Buying Climax (BC)Characteristics: This subphase is a bit of a misnomer in the context of distribution, as it's more relevant to accumulation phases. However, in distribution phases, you might consider it as a "selling climax" where there is a sharp increase in volume and price volatility, indicating aggressive selling by large investors.What to Look For: A rapid price increase to new highs on significantly high volume, followed by a sharp reversal. This indicates that the demand which drove the price up is no longer able to absorb the supply.Automatic Reaction (AR) and Secondary Test (ST) in DistributionCharacteristics: After the climax, there's a reaction that sets the boundaries of the distribution range. The AR is the first significant pullback after the selling climax, indicating the initial balance between supply and demand. Secondary tests (STs) are attempts by the price to revisit the area of the climax or the reaction highs but with lesser volume, showing weakening demand.What to Look For: Decreasing volume on rallies (STs) after the AR, indicating that buying pressure is diminishing. The price fails to reach previous highs or does so on significantly lower volume.Sign of Weakness (SOW)Characteristics: A move below the support level of the trading range on increased volume, indicating that supply is starting to dominate demand. This is a key sign that the distribution phase is well underway.What to Look For: Price dips below the established support levels of the trading range on higher volume, followed by a weak rally that fails to reach the top of the trading range.Upthrust After Distribution (UTAD) CURRENT PHASECharacteristics: An upthrust occurs when the price moves above the resistance level of the trading range but then falls back into the range, failing to sustain higher levels. This is a bearish sign indicating that attempts to push the price higher are unsuccessful and that distribution is nearing its end.What to Look For: A move above the trading range on low volume that quickly reverses, indicating a lack of demand at higher price levels. This often marks the final attempt to attract buying interest before a downward trend.Last Point of Supply (LPSY)Characteristics: The final phase of distribution, where the price makes a series of lower highs on diminishing volume. This indicates that the last remaining supply is being absorbed, and the market is ready to transition into a downtrend.What to Look For: Decreased volume on rallies and the inability of the price to reach previous highs within the distribution range. This suggests that the selling is almost complete, and a downward trend is imminent.2. Unrecovered Green Vector Candle ZonesIf you take a look at the chart you will see brightly colored vector candles. These are areas of high volume, usually created by market makers. Looking back you can see that price always recovers these zones. Price has just recovered the red vectors from DEC 2021. You can see many cluster of green vectors candles that have not been recovered yet at the 30k, 20k, 17k, and as low as 4k. Many times these green vectors are market makers pushing prices higher to induce retail traders, but at the same time, the market makers are loading up on shorts. These unrecovered zones support the potential distribution phase as well.

The SOL/USDT 15-minute chart is currently painting a picture of accumulation. This pattern typically precedes a bullish shift, with the price action following a selling climax (SCLMX) and bouncing back through an automatic reaction (AR) and a series of secondary tests (ST). The 'last point of support' (LPSY) is emerging as a possible pivot for an upward trend. The volume trends are aligning with this narrative: quieter on the dips and louder on the rebounds, hinting at a gradual and strategic accumulation of positions.However, the plot thickens with the potential influence of external economic and cosmic factors. The cryptocurrency space is buzzing with anticipation over potential ETF news, which could inject significant volatility into the markets. Moreover, the upcoming US non-farm payroll announcement is on the horizon, a major economic indicator that often triggers sharp moves in financial markets.Adding an intriguing twist, significant planetary aspects occurring in the coming hours may align with increased market volatility and erratic price movements. In this melting pot of technical patterns and external stimuli, traders should expect heightened volatility and prepare for possible indecisive market moves. While the accumulation pattern suggests a bullish undertone for SOL/USDT, these economic and astronomical events could sway the markets in unpredictable ways. Investors are reminded to stay vigilant, confirm trends with volume, and adhere to disciplined risk management strategies amidst these dynamic conditions.

My latest analysis of SOL/USDT points to a potential distribution phase, a precursor to a shift in market dynamics that could significantly impact price action. While the asset has been on an upward trajectory, forming a notable ascending broadening wedge, this pattern typically reflects growing market indecision and can lead to increased volatility.The broadening wedge, while often a continuation pattern, can also foreshadow a reversal when accompanied by other bearish indicators. Here, the resistance struggles and the volume divergence are crucial — they hint at a waning bullish force, which could mean that the sellers are poised to take the upper hand.What draws my focus is the emerging downward channel within this broadening formation, marked by a series of lower highs and lower lows. This channel suggests that if distribution does take hold, we could be bracing for a more substantial retreat in SOL's price.Although I am not asserting that this scenario will definitively play out, should the distribution and the downward channel follow through, the target for this pattern points to a stark decrease, potentially around the $15 mark. This level would represent a significant pullback from current prices and should be on every trader's radar. The failure to breakeven rate for a ABW is about 31%. Also this pattern is one of the worst performers for downwards breakouts, which means it's drop could lead to potentially massive bullish movement.As with all analyses, this is not a certainty but a possibility based on the patterns developing on the chart. It's an observation meant to prepare traders for potential outcomes, allowing for proactive strategy adjustments and risk management.Ascending Broadening Wedge Breakdown:The following information was obtained from thepattersite.comAscending Broadening Wedge: OverviewThe ascending broadening wedge is a chart pattern that tends to disappear in a bear market. Most often, you'll find them in a bull market with a downward breakout. For more information see pages 81 to 97 of the book Encyclopedia of Chart Patterns, Second Edition and read the following...Ascending Broadening Wedge: Important Bull Market ResultsOverall performance rank for up/down breakouts (1 is best): 23 out of 39/33 out of 36Break even failure rate for up/down breakouts: 15%/31%Average rise/decline: 41%/12%Throwback/pullback rate: 68%/62%Percentage meeting price target for up/down breakouts: 61%/71%The above numbers are based on 690 perfect trades. See the glossary for definitions.Ascending Broadening Wedge: Identification GuidelinesCharacteristicPrice trend, Can be up or down leading to the patternShape, A megaphone tilted up.Trendlines, Both trendlines slope upward. The top one slopes more steeply than the bottom one.Touches, At least three peaks and three valleys should touch their respective trendline.Volume, Irregular but trends upward 66% to 67% of the time.Breakout, Downward 52% of the time.

My latest analysis of SOL/USDT points to a potential distribution phase, a precursor to a shift in market dynamics that could significantly impact price action. While the asset has been on an upward trajectory, forming a notable ascending broadening wedge, this pattern typically reflects growing market indecision and can lead to increased volatility. The broadening wedge, while often a continuation pattern, can also foreshadow a reversal when accompanied by other bearish indicators. Here, the resistance struggles and the volume divergence are crucial — they hint at a waning bullish force, which could mean that the sellers are poised to take the upper hand. What draws my focus is the emerging downward channel within this broadening formation, marked by a series of lower highs and lower lows. This channel suggests that if distribution does take hold, we could be bracing for a more substantial retreat in SOL's price. Although I am not asserting that this scenario will definitively play out, should the distribution and the downward channel follow through, the target for this pattern points to a stark decrease, potentially around the $15 mark. This level would represent a significant pullback from current prices and should be on every trader's radar. The failure to breakeven rate for a ABW is about 31%. Also this pattern is one of the worst performers for downwards breakouts, which means it's drop could lead to potentially massive bullish movement. As with all analyses, this is not a certainty but a possibility based on the patterns developing on the chart. It's an observation meant to prepare traders for potential outcomes, allowing for proactive strategy adjustments and risk management. Ascending Broadening Wedge Breakdown: The following information was obtained from thepattersite.com Ascending Broadening Wedge: Overview The ascending broadening wedge is a chart pattern that tends to disappear in a bear market. Most often, you'll find them in a bull market with a downward breakout. For more information see pages 81 to 97 of the book Encyclopedia of Chart Patterns, Second Edition and read the following... Ascending Broadening Wedge: Important Bull Market Results Overall performance rank for up/down breakouts (1 is best): 23 out of 39/33 out of 36 Break even failure rate for up/down breakouts: 15%/31% Average rise/decline: 41%/12% Throwback/pullback rate: 68%/62% Percentage meeting price target for up/down breakouts: 61%/71% The above numbers are based on 690 perfect trades. See the glossary for definitions. Ascending Broadening Wedge: Identification Guidelines Characteristic Price trend,Can be up or down leading to the pattern Shape, A megaphone tilted up. Trendlines,Both trendlines slope upward. The top one slopes more steeply than the bottom one. Touches, At least three peaks and three valleys should touch their respective trendline. Volume, Irregular but trends upward 66% to 67% of the time. Breakout, Downward 52% of the time. Potential Trading Community for Crypto Day Traders and Scalpers I am looking to create a group or community of day traders and scalpers. This group would be a space to share trading setups, ideas, and strategies while fostering a learning environment. Whether you’re seasoned in the art of scalping or looking to refine your day trading tactics, I would like this community to be a melting pot of insights and shared experiences. The platform for this community is up for discussion, with options being Discord and Telegram. If you’re interested in joining or have a preference for either Discord or Telegram, please reach out.

The ETH/USDT chart presents a potential distribution pattern that warrants close attention. Distribution typically occurs after a market has experienced a substantial rally and is characterized by large players starting to offload their holdings to the market. This process can lead to a plateau in price, with a series of rallies and declines that often confuse traders. In the chart, we see what could be a series of tests (TEST) and upthrusts (UTAD), which are indicative of distribution. A key aspect to consider is the impact of external news on market volatility. Recently, there's been significant chatter about Bitcoin ETF approval, which can influence the entire crypto market. Such news events can trigger 'scam wicks' — sudden spikes in price that quickly reverse, often intended to trigger stop losses or to mislead traders about market direction. This news could trigger a big move in either direction. So be on the look for this in the coming days or weeks. Potential Trading Community for Crypto Day Traders and Scalpers I am looking to create a group or community of day traders and scalpers. This group would be a space to share trading setups, ideas, and strategies while fostering a learning environment. Whether you’re seasoned in the art of scalping or looking to refine your day trading tactics, I would like this community to be a melting pot of insights and shared experiences. The platform for this community is up for discussion, with options being Discord and Telegram. If you’re interested in joining or have a preference for either Discord or Telegram, please reach out.

The red trendline on ETH's chart is more than just a line—it's where ETH's price has repeatedly made significant contacts, challenging it over five times now. This level has become a make-or-break point.We see that ETH has already pierced this red line. Although such a breach might seem minor, it often hints at a larger upcoming movement. These initial breaks can act as a signal and a weakening of the support the line has had. I am predicting a upward consolidation phase for the next couple of days, before a quick correction and liquidity grab to the upside. For ETH, if this rally unfolds as anticipated, it's possible to end with a significant breakthrough of the red trendline. This event would mark a pivotal moment, potentially triggering a rapid descent as the market reacts to the breach. Such a downward move would signal the end of the sideways consolidation and could usher in a period of accelerated selling. If this is to happen, $2020 may be ETH's next stop.Traders should keep a close watch on how ETH interacts with this red trendline. The smaller timeframe breaches are early signs, but the true test will be whether these initial breaks translate into a larger-scale movement that has been anticipated.

The current rise in Bitcoin's price may seem like a green signal for continued prosperity, but one must remain vigilant against the mechanisms of market manipulation. It's prudent to remember that in the world of trading, what goes up rapidly can come down just as fast, if not faster. Trade wisely.Psy-Hi/Lo may be the target if the white trend line doesn't hold. I thought there may have been more upside and I missed the entry for the down move. Gotta stick to your plan!Long scalp opportunity. I'm thinking BTC may range in this area. Showing signs of accumulation. tradingview.com/x/KWOqr4Kl/

Chainlink had a clear breakout of a falling wedge but has not retracted or tested the breakout. While the huge falling wedge seems very promising, I will mention that the falling wedge is a very poor performer and bullishness may not sustain after it has reached its target. Tom Bulkowski a author, legendary trader and regarded as the leading expert on chart patterns, has this to say about the falling wedge. "The falling wedge is a poor performer as far as bullish chart patterns go. The break even failure rate is high and the average rise is low. The only variation that works well is a downward breakout in a bear market and the performance rank for that is in the bottom half of the list."thepatternsite.com/fallwedge.html

The current rise in Bitcoin's price may seem like a green signal for continued prosperity, but one must remain vigilant against the mechanisms of market manipulation. It's prudent to remember that in the world of trading, what goes up rapidly can come down just as fast, if not faster. Trade wisely.Psy-Hi/Lo may be the target if the white trend line doesn't hold. I thought there may have been more upside and I missed the entry for the down move. Gotta stick to your plan!Long scalp opportunity. I'm thinking BTC may range in this area. Showing signs of accumulation.