Under the shadow of next-level misdoings revealed during FTX bankruptcy proceedings, DeFi, hard wallets, and self-custody protocols managed to become intensely popular destinations for shaken crypto investors. The domino effect caused by SBF’s unbelievable carelessness and alleged fraud continues to reverberate across the cryptosphere.
🪂 Quadency users are eligible to claim up to $5,000 worth of QUAD tokens in the upcoming QUAD Airdrop on November 26, 2022. The higher your trading volume on QUADX between now and the 26th, the more tokens will be airdropped to you!
Learn other ways to increase the QUAD you get and all the details here: QUAD Airdrop
Bitcoin experienced a mass exodus from centralized exchanges and into safer havens as diamond handers moved to protect their assets. Some analysts are suggesting that recent events may push Bitcoin into a hyperbitcoinization phase, where adoption grows exponentially as awareness around the problems with other money systems becomes mainstream.
As we can see, BTC price continues to accumulate with characteristic sideways price action, pulling in both buyers and sellers who are fueling up for the next aggressive directional move.
Given that, within the current 4H range we have already taken:
We have met conditions for the price to now break out of the 4H range that we’ve been trapped in. When this will take place... nobody knows, but the likelihood that this will be initiated after a news catalyst is highly probable.
Short-term, however, we are likely to see a bullish move into the $17,500 region before pullbacks back down into discount, or a bearish move into the $16,000 region before a bullish move into premium.
As we can see, the 50 EMA is currently being disrespected and its significance is highest in its importance just as price starts to decide a direction and commit.
Following on from last week's HTF breakdown, we have seen BTC's price find sustained short-term support at our HTF support levels: the monthly fair-value gap and bullish order block.
These levels are our last bastion of support based on the Monthly/Weekly charts until the $14,000 region. If we break below the support found on the 9th Nov, we would expect the price to tumble with small retracements off of daily support levels until we reach $14,000.
If price continues to find support here, we are likely to see a move at minimum to the $19,500 price point which we will explain further using the lower time frames for a higher resolution perspective.
TWT tokens took the spotlight this week as Binance (and new) users moved en masse to its self-custodial Trust Wallet. Crypto investors worldwide were busy looking at alternative means of storing and maximizing their digital assets holdings.
As usual, ETH is aligned very closely with BTC's price action.
We can see the price continuing to accumulate sideways, pulling in orders to fuel the directional move that is inbound. However, ETH's structure signals additional information that BTC's does not.
ETH's structure shows that we have not yet mitigated the extreme bullish order block where buyers will have entered their original positions on the 10th. Although price has mitigated a bullish order block in discount, we could absolutely see a fake-out bearish move to this extreme bullish order block before aggressively turning back to the upside.
However, given that the minimum requirements for a bullish move have technically been met, a move into the $1300 level is still possible, for longs at the current price our target would be around the $1280 level, and for shorts the $1125 level. At these points, we would expect short-term retracements to fuel the longer term range breaking directional moves.
Bitcoin experienced a mass exodus from centralized exchanges and into safer havens as diamond handers moved to protect their assets. Some analysts are suggesting that recent events may push Bitcoin into a hyperbitcoinization phase, where adoption grows exponentially as awareness around the problems with other money systems becomes mainstream.
As we can see, BTC price continues to accumulate with characteristic sideways price action, pulling in both buyers and sellers who are fueling up for the next aggressive directional move.
Given that, within the current 4H range we have already taken:
We have met conditions for the price to now break out of the 4H range that we’ve been trapped in. When this will take place... nobody knows, but the likelihood that this will be initiated after a news catalyst is highly probable.
Short-term, however, we are likely to see a bullish move into the $17,500 region before pullbacks back down into discount, or a bearish move into the $16,000 region before a bullish move into premium.
As we can see, the 50 EMA is currently being disrespected and its significance is highest in its importance just as price starts to decide a direction and commit.
Following on from last week's HTF breakdown, we have seen BTC's price find sustained short-term support at our HTF support levels: the monthly fair-value gap and bullish order block.
These levels are our last bastion of support based on the Monthly/Weekly charts until the $14,000 region. If we break below the support found on the 9th Nov, we would expect the price to tumble with small retracements off of daily support levels until we reach $14,000.
If price continues to find support here, we are likely to see a move at minimum to the $19,500 price point which we will explain further using the lower time frames for a higher resolution perspective.
TWT tokens took the spotlight this week as Binance (and new) users moved en masse to its self-custodial Trust Wallet. Crypto investors worldwide were busy looking at alternative means of storing and maximizing their digital assets holdings.
As usual, ETH is aligned very closely with BTC's price action.
We can see the price continuing to accumulate sideways, pulling in orders to fuel the directional move that is inbound. However, ETH's structure signals additional information that BTC's does not.
ETH's structure shows that we have not yet mitigated the extreme bullish order block where buyers will have entered their original positions on the 10th. Although price has mitigated a bullish order block in discount, we could absolutely see a fake-out bearish move to this extreme bullish order block before aggressively turning back to the upside.
However, given that the minimum requirements for a bullish move have technically been met, a move into the $1300 level is still possible, for longs at the current price our target would be around the $1280 level, and for shorts the $1125 level. At these points, we would expect short-term retracements to fuel the longer term range breaking directional moves.
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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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