As Q3 wrapped up, the gears are turning in the crypto space as governments started cracking their whips and crypto Twitter began a witch hunt on questionable influencers!
Quadency’s DMAC bot will make sure to buy when the Dual Moving Average Crosses!
The world is watching as Bitcoin (BTC) just confirmed a daily candle above a nearly year long down trend, but the trading community is undecided. Is this really a break out or a fake out?
As we go into the weekend, we can see the price has stalled around the $20,000 region which is to be expected given we reclaimed last week's High of the week.
Next week, we could see an early week bearish move into the discount of the range before bullish momentum takes over or bulls fail to take hold and bear crash price through the $18,000 level.
BTC has been within its weekly range since the 31st of May - the price has tested discount prices for bearish moves and has been in a bearish move since.
Now that we've reached discount prices for potential bullish movement, the price has been within a consolidation as it pulls in liquidity from both buyers and sellers ready for the next move, either we break the weekly range low and continue bearish to 2020 prices, or we make our next bullish move up into the $22,000-$26,000 price range.
Ethereum (ETH) outperformed the NASDAQ, gold and bonds in Q3 2022. The ETH/USD price saw a break above a major bearish trend line with resistance near $1,355 on the hourly chart. If Ethereum fails to climb above the $1,400 resistance, it could start a downside correction.
After the market downturn of May 2022 from $2165 to $880 - the price steadily recovered to the breakeven point of those traders who had shorted the market.
Since then we've seen price reach back down to the discount of this range and retesting the important level of $1281 where bulls entered the market, a potential orderflow is now on the cards for a bullish move to test the $2000 range, if the bears are still in waiting, then we could see an extreme test of the entire range to below $1000.
The world is watching as Bitcoin (BTC) just confirmed a daily candle above a nearly year long down trend, but the trading community is undecided. Is this really a break out or a fake out?
As we go into the weekend, we can see the price has stalled around the $20,000 region which is to be expected given we reclaimed last week's High of the week.
Next week, we could see an early week bearish move into the discount of the range before bullish momentum takes over or bulls fail to take hold and bear crash price through the $18,000 level.
BTC has been within its weekly range since the 31st of May - the price has tested discount prices for bearish moves and has been in a bearish move since.
Now that we've reached discount prices for potential bullish movement, the price has been within a consolidation as it pulls in liquidity from both buyers and sellers ready for the next move, either we break the weekly range low and continue bearish to 2020 prices, or we make our next bullish move up into the $22,000-$26,000 price range.
Ethereum (ETH) outperformed the NASDAQ, gold and bonds in Q3 2022. The ETH/USD price saw a break above a major bearish trend line with resistance near $1,355 on the hourly chart. If Ethereum fails to climb above the $1,400 resistance, it could start a downside correction.
After the market downturn of May 2022 from $2165 to $880 - the price steadily recovered to the breakeven point of those traders who had shorted the market.
Since then we've seen price reach back down to the discount of this range and retesting the important level of $1281 where bulls entered the market, a potential orderflow is now on the cards for a bullish move to test the $2000 range, if the bears are still in waiting, then we could see an extreme test of the entire range to below $1000.
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Quadency is a cryptocurrency portfolio management platform that aggregates digital asset exchanges into one easy-to-use interface for traders and investors of all skill levels. Users access simplified automated bot strategies and a 360 portfolio view with a free account.
Disclaimer: The content of this article is for general market education and commentary and is not intended to serve as financial, investment, or any other type of advice.
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