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✖️ I DON'T USE MACD IN CRYPTO TRADING - WHY?
In the post I will tell about the indicator in few words, but in the article below you will be able to read the answer to the question.
Moving Average Convergence Divergence (MACD) - is a trend-following indicator that shows the relationship between two moving averages of prices. The MACD is calculated by subtracting the 26 EMA from the 12 EMA. To be true, this is one of the simplest indicator available.
MACD indicators can be interpreted using two different methods (I write about those options which can be connected with crypto trading):
1. Crossovers - When the MACD falls below the signal line, it is a bearish signal, which indicates that it may be time to sell.
2. Divergence - When the security price diverges from the MACD, it signals the end of the current trend.
🗨 But why do I think this indicator is bad for crypto trading? - kankordia/%EF%B8%8F-i-dont-use-macd-in-crypto-trading-why-75d1db02ed44">Answer is in this article (click to the blue text to open)
📍 #DOT UPDATE
The price is located inside the massive descending channel (check the weekly chart on the right side of the chart).
More to say, there is an ascending triangle that must help the price to break upwards.
Overall, the situation is bullish. Matter of time.
🦋 ETH UPDATE
The price formed an ascending channel, and currently Ether was rejected from the upper border.
As long as the price stays above the middle line of channel (which now corresponds with the $1840 support) — the overall trend is bullish.
Overall, ascending channel is a bearish pattern. However we all know that #ETH likes to play against all TA rules.
https://twitter.com/Robert_Klondike/status/1643529326007074823
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❗️TOTAL2 (Altcoin MarketCap) UPDATE
As you can see, the altcoin market capitalization is breaking through the 610B resistance. This is quite a Bullish Move for the whole Altcoin market.
The season is about to start.
🐝 BTC UPDATE
This flat is drying the life from the market. Even the the CZ FUD and Doge logo on Twitter don’t bother the market.
But let’s try to find something on the chart.
There is a bullish flag that can help in breaking the $28,800 resistance. However, chances of testing the lower border are quite high, since locally there is a bearish triangle.
Overall, still waiting for the breakout. And buying the dip, if it happens.
🐝 BTC UPDATE
Nothing serious happened during weekend.
The only fact that was proved right — $27,730 support level is strong. The price jumped from there three times already.
In case this level is broken down, we will immediately dump to $26,500 - $26,800 level. Kind of a scalping strategy.
Overall priority remains bullish.
🐝 BTC MONTHLY UPDATE
March closed in a very bullish way. As you can see, by just one candle Bitcoin left the consolidation range where it was during the recent 8 months.
Moreover, that month's candle closed above all important MAs & EMAs.
The next stop for Bitcoin is $31,700 resistance. April promises to be bullish for the whole crypto market.
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🐝 Bitcoin showed a positive reaction from the $27,700 middle level.
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✍️ Overall, these two charts represent our expectations from Bitcoin in the near future.
The first chart shows our clear thoughts. Rejection from the $28,600 resistance as it was with $25,000 some time ago. Further consolidation and retest. Then strong comeback and rally above the $30,000.
The second chart is based on the fractal from the Spring 2022. That time, the price has also formed a horizontal channel, tested one from both sides, made a fake breakdown and then made a strong came back.
Overall priority remains bullish, we must see Bitcoin above $30k during this season. It is only a matter of time.
🦋 ETH/BTC UPDATE
The left chart is local one (4H), and the right chart is global one (3D).
Locally, the price formed a bearish flag that can be broken downwards. The target for this dump is the descending support of the massive falling wedge.
It perfectly correlates with the fact that Ethereum developers confirmed April 12 for Shanghai Hard Fork (upgrade that will unlock 16M #ETH) which makes up 14% of the current supply.
More likely this event will cause a dump on Ethereum and other altcoins. But after, the real Altcoin Season will start.
We have already survived Bitcoin rally, Arbitrum Launch, Draining Flat and the last one is Shanghai Hard Fork. Let's be strong.
😐 Do I need to say about moving to Bybit exchange again…?
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📍#MATIC UPDATE
The price is located inside the small rising wedge (orange), this wedge is located inside a triangle (black lines), and both these patterns are located inside the huge ascending channel (black bold lines).
Currently, the price is testing the important descending trend line (red). Overall, the priority is bullish from there since this trend line is more important than rising wedge.
However, if the support of the triangle is broken downwards, the next stop will be at the support of the ascending channel.
❗️Buying some #RDNR on this trend line breakout!
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❗️Buying some #AVAX at this breakout!
The price broke through the $18 resistance of the ascending triangle and now takes hold above it. Entering the position here.
🦋 ETH/BTC UPDATE
Massive pump from Ethereum, outperforming Bitcoin. Made Altcoins moving as well.
The price is about to enter the range between 0.067 and 0.071. More likely we will some consolidation there and after that will have all chances of breaking the Falling Wedge upwards!
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🏁 #SPX & #DXY
It turned out to be very prophetic publication. Both S&P500 and U.S. Dollar Index worked out according to setup, perfectly.
More to say, it really helped Bitcoin to grow from $20,000 to $28,000
Talking about the current situation, #SPX reached a 4155 resistance. If it manages to break it, crypto market will bounce hard. #DXY, in its turn, has already broken down through the support level.
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🐝 BTC WEEKLY UPDATE
The price keeps consolidating inside the $24,500 - $29,700 range with the pressing to the upper level, which is a bullish factor.
Once the price breaks the resistance and take hold there on HTFs, the bullish market will come back since there are very few resistances above $30k.
📍 #ARB UPDATE
Well, the chart looks bullish. There is a support at $1.35. Moreover, the price formed an ascending trend line.
Taking into account that ETH/BTC is ready to bounce, BTC Dominance reached the resistance and Altcoin MarketCap must grow…
We have great chances of growing and make a new ATH on #ARB
👨💻 TOTAL 2 UPDATE (Crypto MarketCap Exclude Bitcoin)
As you can see, the chart is bullish for Altcoins! There is an inverse H&S and broken descending trend line that was already retested.
Altcoins are literally screaming that they are ready to fly.
📍 BTC DOMINANCE UPDATE
The dominance has finally faced the descending trend line that held the dominance below for almost 2 years.
No doubt, chances of breaking it upwards are quite low. More likely we will see some consolidation between 47.2% support and the trend line.
Good news: Bitcoin Dominance is high enough to give us the Greatest Altcoin Season since Spring 2022.
🐝 BTC UPDATE
The price formed a perfect horizontal channel and.. consolidates there.
The basic rule for trading such channels (long at support and short at resistance) doesn't work here, since we are in a bullish trend and breaking $28,800 is in priority.
Overall, I have positive expectations from Bitcoin in next months. We will average our spot holdings in case of a decline down to $26,000 - $26,500 zone. With the target of going above $30,000.
📉 This FUD caused another dump on Bitcoin. The price is currently hold by the $26,960 support level.
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