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Crypto Market "Might" have a pumpy Saturday night..

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Joanne Wong
@joannewong
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Hope everyone have a great start of the weekend. Last Tuesday, Crypto Market crashed after a 1 month plus rally since July 2021. BTC, $52,700 crashed to $42,900 almost a 10K dip within minutes. Across all altcoins, the crash resulted between 30% - 60%. Do you sell during the Crash or Do you buy the Dip? Ever since the crash, crypto market have been slowly recovering and BTC have been accumulation/consolidating/ranging. While BTC is ranging, there are some altcoins fully recovered and get to New All-Time High.

As my title said "Might have a pumpy Saturday Night", let look at some of the charts and probability.

BTCUSDT 15 minutes Chart

Let start off with BTCUSDT chart at lower time frame (15m), the price have been respecting the down trend line which is also the line I drew to form the Descending Triangle.

  • Breakout from the Descending Triangle as of the time of writing.
  • Appeared a Bullish Divergence before the breakout
  • Yellow Line Cross the Pink Line
  • Inverse Head & Shoulder
  • BTC support have been holding well

BTCUSDT 4 hour Chart

As much as the chart look Bullish, still need to wait until it play out to confirm it.

  • Bullish Divergence
  • Bullish Engulfing Candle is Forming (not yet confirm since the candle hasn't close yet)
  • Breakout from the down trendline

Next chart is UNIUSDT..

UNIUSDT 15 minutes Chart

After the crash, UNIUSDT have been trading between $21 - $24 zone. On the UNIUSDT 15m chart, there is a resistance zone at 23.60%. Previously was a support zone which has been tapped many time, broke and turn into a resistance zone now. The price bounced every time it touched the trend line, which means it respect the trend line. Same goes to the Inverse Head & Shoulder Neckline, break and the price came back down to touch it and bounced.

  • Inverse Head & Shoulder
  • Breakout Symmetrical Triangle
  • Breakout of the Down Trendline
  • Bounced off the inverse head and shoulder neckline
  • Bounced off the trend line

UNIUSDT 1 hour Chart

On the hourly chart, there is pennant pattern spotted. Will it breakout by tonight? Let wait and see.

UNIUSDT 4 hour Chart

In My Opinion, there are 2 hard resistances for UNIUSDT to break before it can go higher.

  • Breakout of Trendline
  • Bullish Divergence
  • Strong Support

Trading is risky and using Leverage to trade is an even higher risk than Spot trade therefore I will suggest you to try out paper trading first before going into Live Trade.

This is just MY PERSONAL OPINION/BIAS/VIEW on the BTCUSDT & UNIUSDT chart, 100% NOT FINANCIAL ADVICE & Please Do Your Own Research/Due Diligence & during this pandemic I have started picking Technical Analysis.

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