chainlink store chainlink coo chainlink underperforming Bitcoin - Algorand - Chainlink - HEX - CateCoin - Gala : Technical Analysis
good afternoon welcome back to the channel my name is Joe Josh I go by ichart daily it is April 11th wanted to give you a Bitcoin video obviously we always start with Bitcoin first but then I got a couple of requests from the members to do algo link hex Kate coin and Gala appreciate the support thank you for keeping me busy the way it works is if you want to become a member the link is in the description its three dollars for the month and every month you get two video requests monthly so the reason why we start with Bitcoin first is because of bitcoins dominance right now Bitcoins dominance is around 48.69 meaning the entire market cap is about half just in Bitcoin and because of that whatever she does usually has a ripple effect on the entire market so join the Discord in the past two videos I mentioned a chart and this was the one I was talking about understanding the cycle right so as bitcoins dominance goes up and bitcoins price is going up that means money is coming from the alt and the alts are bleeding back to bitcoin then when bitcoins price is staying stable like it was for the past couple weeks around the 28.5 to the 29 000 while the Bitcoin dominance is still Rising its the accumulation phase and when Bitcoin is continuously going up right because the narrative is the banks the Fiat its a hedge et cetera et cetera but then we start seeing Bitcoins dominance going down that means the profit money from your Bitcoin that was just made going from fifteen thousand to forty five thousand now goes to the coins that have been trailing and have been underperforming and thats when you see your all points go up fast so as of right now we are seeing this phase leading into this phase which will then lead into this phase and you can see Bitcoin has moved first it looks beautiful on the monthly and the reason why I always start with the longer term Trend meaning a monthly time frame is because long-term trends predict short-term outcomes because we have seen bullish Divergence on the monthly and the three-week time frame we have seen positive price action and bullish price patterns ever since the inverse head and shoulders so now we are here and we were saying just to recap very quickly I was comparing this pump to this pump just because of how far we are still to The Happening that I think we could go up to lets just say the 33 000 to the 43 000 and breach lets just say the 80 line on the RSI so right away I definitely will have an alert right before it because if I start seeing bearish Divergence playing out and why start seeing a bearish pattern play out right smart money obviously exits before the herd so that is Bitcoin Bitcoin looks good now we look at algo we dont need to look at this because we know were looking at algo and here is the weekly chart and if you remember me saying I mean months ago right that this chart pattern with this opening alligator mouth here looks very similar to this chart thats playing out and it is playing out we saw a breakdown below your support were now seeing this upward Rising Channel that somewhat led to like an ascending channel the ascending triangle that broke out back to this major value area we went below your major support line right were seeing resistance were forming this upward Rising Channel Thats leading into an ascending channel that could bring us back to your value area of the 36 37 cents very simply put right and what were looking at with the indicators is bullish Divergence right your macd is an indicator that tells you just the overall trend these are the two moving averages and you can see youre youre were not having death crosses were having consolidations but your waves are getting higher and higher and closer to the zero line that is huge because that implements once we do break the zero line were going to break the resistance of the 28 cents next is the RSI the RSI is an indicator that tells me when were overbought or oversold and the most important line is the 50 line you can see here when we use it as support its a continuation to the upside right we could have consolidations but higher lows every single time right this was 13 cents this was 29 cents this was 84 cents once we broke the 15 line and we death crossed and we were below the zero line we saw lower lows and lower highs so lets go into the short term here is algo and we are at this this point where were in the Line in the Sand right were having a hard time break the 23 to 28 23 24 cents and then when your next level is the 20 to the 29 cents but I do see this small ascending triangle that could take us back to the agreed level of the 27 cents so once again we have a large ascending triangle thats playing out that if and when that breaks will take us back to the value area of the 37 38 cents and we have once again another bullish ascending triangle that eventually will break out and take us back to the 28 cents and at that point we would then want to see that right we have a break above the 28 cents we use the 28 cents as support we form another upward Channel we break the 28 cents and head back to the 36 Cents um I would like to see if theres any major okay so here we go were looking at the three day Golden Cross and this is why I always recommend on Black Friday or any holiday that trading view is having a nice little um sale to do the yearly subscription so that you have the ability to add all the time frames and all the indicators that I use so what were looking for is death crosses golden crosses where the RSI is on different time frames to see when the next pump is going to come and you can see here this next wave looks like were about to break and were about to break the 50 line showing me now this is a three-day chart that over the next three six nine days we have potential to break this and head back up to this value area Im curious to see what the four day looks like yeah all right and the weekly so once again daily we want to see the break today we want to see the break three day we want to see a break then eventually the weekly we see the break and then thats when were chilling around the 28 cents back in this Zone and because were back in this Zone we would see something like this and then you value area agree level of the 40 cents to even the 51 cents like it did here right and then youd come back retest this value area and then do the same thing like we did here pretty much almost right too far to tell but its funny that its playing out pretty comparable so that is my algo video once again higher lows because the long-term trend is changing you can see here it doesnt look like the mountain is coming down it looks like its going up next chain link here is chain link now nothing has really changed which is why I dont do um like many update videos on these coins right um the comment was its its staying flat nothing has changed its right yes as the coin stays flat in between two prices its allowing the long-term indicators to turn bullish and show you that youre getting bullish Divergence right bullish Divergence is when your indicators are telling you that youre youre you look bullish but your price is staying flat showing you that you have a higher probability of breaking up out of the sideways Channel compared to breaking down and if you remember in the previous videos I mean look how long this can solid this this doesnt seem like much but this was 553 days of just not breaking 58 cents and just continue making these higher lows this here was 294 days of not really breaking the 3 dollars making these higher lows right if youre not looking at the chart youre not understanding thats making an ascending triangle make an ascending triangle making an ascending triangle right when did this break look when we broke the 50 line we broke support of 14.95 and we broke the zero line here we started making lower lows as you can see your macd is bullish were going up volumes coming in we got to break that zero line once we break that zero line then we have potential to break the 971. this is your accumulation stage same thing with the RSI were below the 15 line we remain bearish and your buy order should be well lets look here lets do it right heres the two week heres the one week right lets delete lets delete lets delete lets do this right lets do it right Kazi okay so you can see here I was charting it out and were making those higher lows now okay were doing something like this then were doing something like this okay which shows me that you could take the value area of the flag break it to the break up and we can have a great level back to the 935 area right and do something like this break up which then shows me that this now is not a ascending triangle but its now an upward Rising Channel we would do something like this and here is your Trend up down up accumulate break up and then wed want to see a retest of this area that was resistance from May 20 May 16 22 which is the lets just say eight dollar level we would want to see a breakup retest form a double positive Apex moment here at the white line in the purple line showing what right higher lows Implement higher highs and when we do break this level of the 941 well guess what we have broken officially out of the long-term Trend look how this lines up with this break right here so this would be official Trend reversal on chain link that we have broken out of the bear Market resistance right one two three four we came all the way down form this bottom now we have potential to break up use once again what was resistance which is this white line that I just deleted by accident so we would use this white line here as support which was resistance we would we we would use the short-term support as support we would use this previous purple line which was resistance as support so now you have three lines of support resistance contact lining up with the 830 level after this break out to see if were going to stop there and have that push out to show you what it looks like I said in the last video with Solana it would look something like this right you have your downward resistance you would have your breakup and you would have your retest at that major level right here showing you that theres buying pressure and its a continuation pattern to the upside upside bringing us back to here I mean Im being conservative of 5 14 Stewart Wright there so once we do break out of this you can see it literally pop up its like the 550 to the 850 level next is hex hex was on a beautiful run right we broke the 50 we broke the zero line effects went up 300 something percent now youre looking for a nice consolidation for hex to see if were going to have a continuation to the upside so what I see with hex is a descending triangle that usually has a higher probability of breaking to the downside but we could have a continuation pattern and come back to the eight cents to potentially the .092 the reason why I say that is we have to watch the RSI if the RSI like it did here comes back down to this 50 level we come back up and break the moving average well guess what this that does have lets just say an 80 20 breaking to the downside is also a measured move to the upside if we were to break up which is why I have this here and this is the body of the flag that would break us back to when conservative the eight 0.85 to once again the 0.98 and I would be watching the 12 hour to see if we continue forming higher lows and break the 50 line and if we continue making higher highs on the macd and break the zero line as well this still is this little area of like Apex moment Im here where I would like to see if we do form an inverse Head and Shoulders that would bring us back to like I said this level here one other thing I did want to show you oh yeah it was on this one um here is Kate coin I know nothing about this coin what I do know is technical analysis and the first thing I see on a weekly chart is white is resistance yellow is support you can see that the asset went up came down was using this yellow line came down to support broke up we did have a fake out back to the top white line but we came back into the trend to use the yellow as support guess where we went to back to the white line that was resistance resistance resistance thats why I trust the charts so now were having this Apex moment where were having no more room between support and resistance and if we were to break out I could see us going to this value area of the 84.87 and then your greed level is going to be the point of one one two zero six two to the one four one zero one one now how would we set alerts to notify us whats going on I would click on the weekly RSI you can see here we are making higher highs I would want to see if it breaks the 5156 once we break the 5156 youre breaking your high here of the 75 21 and that confirms that you potentially could do something like that also you could see your macd is not death Crossing and showing you the same thing I just showed you in the link in algon X its showing you bullish Divergence which is showing you you have a higher probability of breaking to the upside compared to seeing resistance and breaking to the downside to give you a short-term technical analysis lets see here I would set an alert here at the five nine higher than this most recent High here to see if youre going to have a breakout back to this level then you use this as support break to this level use this as support and continue making higher lows and higher highs to your grade levels of here and here Im curious to see what the three day looks like okay here we go I would want us I would set an alert here at the 53.88 and what does the macd look like it looks good looks like it were about to Golden Cross showing us that we have a move to this area here and Id want to see once again if we break you could even set another alert here notifying the notifying you that youre breaking out of the trend if youre looking to do a play just make sure your liquidation price if youre doing a 20 30X uh Leverage is lower than this price here because heres your Trend right higher lows every time so if we were to see resistance and break down instead of breaking up youre on your stop loss should be here your liquidation price should be here you have minimal risk with a nice reward on the way last but not least Gala here it is Gala looks like its forming a nice inverse Head and Shoulders thats leading into a bowl flag pennant that has a higher probability of breaking back to the 0.046 to the point zero four eight and Ill show you what that looks like excuse me like this and you can see here you have your one leg right the shoulder I should say you have your head your shoulder and your left leg would complete Im conservative back to here but once again you do have a grid level back up to the point zero five one to confirm this you can see here what looks like were about to have a break above the zero line showing me that we could potentially break this most recent high of the .042 and then start making higher highs here to the point zero four three point zero four four also your RSI is just hovering at that 50. I would probably set an alert here at this resistance level of the 5342 notifying me that we are once again confirming the bullish and bullish pattern that is playing out once we hit these levels I need to see whats going on and if I need to delete everything and go from there here we go you can clearly see shoulder head shoulder breaking out of resistance heading back to these levels here about the point zero five lets just say 0.047 that is the video once again membership three dollars a month two video requests Discord link it is free its a faster window to my thought process you can see it here Im constantly posting things if youre looking to collab on a video interview or anything like that my email is in the description I am forever grateful for the support if anyone who is not a member still would like to request a video I will be choosing one or two you guys a month to show my gratitude enjoy the day Bitcoin - Algorand - Chainlink - HEX - CateCoin - Gala : Technical Analysis Join this channel to get 2 video requests monthly: Discord : Contact Me: crypto technicalanalysis tradingview bitcoin algorand chainlink hex gala catecoin tradingview,algorand,gala,
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