Focused Analysis: Cryptocurrency, Technical Outlook, Edition #197 (16/03/2022)
#FreeAlpha 🚀 Q goes back to our roots in tonight's analysis - this one is all about CRYPTO. Read the technical update featuring Bitcoin and the latest community-selected Altcoins 👇
The information on this website is for general information purposes only. It is not intended as legal, financial and/or investment advice and should not be construed and/or relied on as such. Before making any commitment of a legal and/or financial nature you should seek advice from a qualified and registered legal practitioner and/or financial and/or investment adviser. No material contained within this website should be construed or relied upon as providing recommendations in relation to any legal and/or financial product. Qluster does not recommend and/or endorse products and does not receive remuneration based upon investment and/or other decisions
Volatility Alert: Federal Reserve rates decision fast approaches
As the Fed's slow dance with stimulus draws closer to a conclusion, it is now Q's turn on the floor for some dirty dancing with Crypto.
Tonight's report will be solely cryptocurrency-focused as Bitcoin shows apparent cues that price action is gearing up for a potential impulse break up—or down.
By factoring in the current levels of uncertainty across financial markets, the latest technical analysis infers a latent possibility for either bullish or bearish outcomes to eventuate.
Observe an idealised illustration of Bitcoin's possibilities below...
Bullish Perspective
Bitcoin vs. US Dollar, $BTC - 4 Hour (H4)
Bearish Perspective
Bitcoin vs. US Dollar, $BTC - 4 Hour (H4)
To explain this in a more digestible way...
While $BTC trades below both the daily (D1) 20-exponential moving average (GREEN) and 50-moving average (RED), the market demand is at risk of falling lower.
A general outline of the levels are outlined below to help with learning how to interpret moving average indicators:
D1 20 EMA: US$ 39,6XX
D1 50 MA: US$ 40,1XX
If the $BTC trading pair can flip resistance levels indicated by the moving averages into support, the technical basis for an earlier chart idea appears robust at the present moment.
Bitcoin vs. US Dollar, $BTC - Daily (D1)
Some eerie parallels in funny business that occurred in the US$ 6K consolidation of 2018 can be extracted below.
The reference here is the recent events that transpired after a 'gravestone Doji' trapped FOMO-buyers in a false breakout around US$ 40K.
Bitcoin vs. US Dollar, $BTC - Daily (D1)
Bitcoin vs. US Dollar, $BTC - Daily (D1)
Contrary to the impending doom that may be days away—or, even weeks—it is impossible to ignore the fact that fear induces volatility.
And, as technical theory suggests, volatility can create opportunities for market participants to make money.
Now, regardless of which direction is in store for Bitcoin...
A reading of new developments across Altcoin markets indicates that price action is highly likely to reflect the Top Dog of cryptocurrencies.
Except for some outliers.
Before diving into this latest selection made by our beloved Q Family, one example of these outliers is outlined below.
Begin tonight's rapid-fire technical analysis of Altcoins with a view of THORChain, $RUNE.
🙅♀️ Caution. It is essential to consider the risks of an adverse trend reversal 🙅♂️
The information on this website is for general information purposes only. It is not intended as legal, financial and/or investment advice and should not be construed and/or relied on as such. Before making any commitment of a legal and/or financial nature you should seek advice from a qualified and registered legal practitioner and/or financial and/or investment adviser. No material contained within this website should be construed or relied upon as providing recommendations in relation to any legal and/or financial product. Qluster does not recommend and/or endorse products and does not receive remuneration based upon investment and/or other decisions
THORChain RUNE, $RUNE - 4 Hour (H4)
Several tokens nominated by our community of technical practitioners in the Qluster Research Facebook Group reveal setups that appear ready to take flight—note a break upside for Bitcoin is essential to qualify these assessments.
Bitcoin vs. US Dollar, $BTC - 4 Hour (H4)
ChainLink, $LINK - 4 Hour (H4)
Immutable X, $IMX - 4 Hour (H4)
Terra, $LUNA - 4 Hour (H4)
Fantom Foundation, FTM/USD - 4 Hour (H4)
Avalanche Network, $AVAX - 4 Hour (H4)
ICON Foundation, $ICX - 4 Hour (H4)
IOTA Foundation, $IOTA - 4 Hour (H4)
Enjin, $ENJ - 4 Hour (H4)
Which Altcoins are you watching? Leave a comment to let Q know 👇
VeChain Foundation, $VET - 4 Hour (H4)
See you again for the next update.
- q
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The information on this website is for general information purposes only. It is not intended as legal, financial and/or investment advice and should not be construed and/or relied on as such. Before making any commitment of a legal and/or financial nature you should seek advice from a qualified and registered legal practitioner and/or financial and/or investment adviser. No material contained within this website should be construed or relied upon as providing recommendations in relation to any legal and/or financial product. Qluster does not recommend and/or endorse products and does not receive remuneration based upon investment and/or other decisions
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