Timechain Coder
--
Trump pumped the market. Should we be cautious like the classic weekend low volume market pumps?
Actually, after the weekly close today (there are only 3 hours left as of the moment I am writing this article), I was going to share the analysis updates tomorrow, but there is an extreme FOMO due to the pump that came with the news from Trump. That's why I wanted to share the critical levels early.
I will share the general LTF & HTF analyses' updates for various coins/tokens tomorrow.
First of all, today's rising effect was experienced first in $XRP , $ADA and $SOL with the announcement made by Trump on Truth Social. Then, we can say that it spread to the market in general and especially to the ETH ecosystem with the news about $BTC and $ETH.
In the aftermath, Eric Trump, Michael Saylor and tons of other accounts on X quoted them.
I will not go into the scope of the message or the deciphering of its content here.
Hours ago, an account on a DEX had opened very large BTC and ETH longs. Normally, liquidation levels were close and it seemed risky, but after these announcements, it seems almost certain that it was an insider(!).
Anyway, let's quickly look at the technical side. I had shared that it had turned from a place very close to the level I gave as the first level support in the daily trend. The big wick in the decline almost filled both GAPs above this support (still not completely) and rose to a good level in the lower timeframes (up to 4H).
Closing above the Daily EMA200 was also the first positive situation.
You will notice that there are multiple key levels on the chart.
First, the white line shows a trend-based downtrend that has not yet been broken.
I said that the red and orange dashed lines are the range deviation limits and if there is going to be a reversal, it should quickly bounce above it without staying too long below it and re-enter the range.
From this perspective, it is still positive. However! If it falls back under the green box at this stage and exits the range, it turns into a very negative image and this movement remains a manipulation!
Do you remember our local range before the decline? When this accumulation range was lost, the decline accelerated and we are just in retest of range bottom.
Again, very close to this level, the level I indicated with the dashed red line corresponds to the imbalance level of the institutional candles and is a potential level to work as resistance.
Similarly, if this rise will remain as a correction of the last downward swing movement on the main trend, the current level indicates exactly the bearish Optimal Trade Entry (OTE) zone and a downward reversal from here could lead to a decline that would create a double bottom formation at best (or worse) and therefore this level must be breached quickly.
One more thing! BTC CME Futures will open having filled the gap left above during the decline.
👀 In conclusion, it will be important to follow the following:
👉 If the candle closes below the green box in the first chart and the part above the green box remains as a wick, it can be dangerous!
👉 If the 95,227 imbalance top level is not overcome and the candle leaves a long wick below it and then we see a long downward candle, it can be a danger sign.
👉 If the declining resistance cannot be breached with voluminous candles (or not breached at all), in addition, if the part above this level remains a wick without closing with the candle body above 98,564, it can be a danger sign.
💥In conclusion of the conclusion:
Each of the scenarios I mentioned above could be a confirmation of the beginning of the worst-case scenario. What is it? Confirmation of the decline on the main trend (in the other words; confirmation of bearish main trend).
⭐So, we need to:
1- Stay above the green box
2- Breach red line and close daily with the candle body above it
After these two, a correction towards below this level is not a problem since that will mean the main trend turned bullish again.
Therefore, regardless of the decline or rise, we should look at the charts and prices knowing what each situation means. We should not get caught up in FOMO/FUD by the color of the current candles or how big they are. We should read the price action carefully, step by step.
As I said, I wrote this article quickly to guide you in an emergency. If you notice any errors, please let me know and I will fix it.
If you write the coins/tokens you want me to analyze for tomorrow in the comments, I will try to analyze and share them after the majors.
I hope it helps. 🙏
Peace out!
I will share the general LTF & HTF analyses' updates for various coins/tokens tomorrow.
First of all, today's rising effect was experienced first in $XRP , $ADA and $SOL with the announcement made by Trump on Truth Social. Then, we can say that it spread to the market in general and especially to the ETH ecosystem with the news about $BTC and $ETH.
In the aftermath, Eric Trump, Michael Saylor and tons of other accounts on X quoted them.
I will not go into the scope of the message or the deciphering of its content here.
Hours ago, an account on a DEX had opened very large BTC and ETH longs. Normally, liquidation levels were close and it seemed risky, but after these announcements, it seems almost certain that it was an insider(!).
Anyway, let's quickly look at the technical side. I had shared that it had turned from a place very close to the level I gave as the first level support in the daily trend. The big wick in the decline almost filled both GAPs above this support (still not completely) and rose to a good level in the lower timeframes (up to 4H).
Closing above the Daily EMA200 was also the first positive situation.
You will notice that there are multiple key levels on the chart.
First, the white line shows a trend-based downtrend that has not yet been broken.
I said that the red and orange dashed lines are the range deviation limits and if there is going to be a reversal, it should quickly bounce above it without staying too long below it and re-enter the range.
From this perspective, it is still positive. However! If it falls back under the green box at this stage and exits the range, it turns into a very negative image and this movement remains a manipulation!
Do you remember our local range before the decline? When this accumulation range was lost, the decline accelerated and we are just in retest of range bottom.
Again, very close to this level, the level I indicated with the dashed red line corresponds to the imbalance level of the institutional candles and is a potential level to work as resistance.
Similarly, if this rise will remain as a correction of the last downward swing movement on the main trend, the current level indicates exactly the bearish Optimal Trade Entry (OTE) zone and a downward reversal from here could lead to a decline that would create a double bottom formation at best (or worse) and therefore this level must be breached quickly.
One more thing! BTC CME Futures will open having filled the gap left above during the decline.
👀 In conclusion, it will be important to follow the following:
👉 If the candle closes below the green box in the first chart and the part above the green box remains as a wick, it can be dangerous!
👉 If the 95,227 imbalance top level is not overcome and the candle leaves a long wick below it and then we see a long downward candle, it can be a danger sign.
👉 If the declining resistance cannot be breached with voluminous candles (or not breached at all), in addition, if the part above this level remains a wick without closing with the candle body above 98,564, it can be a danger sign.
💥In conclusion of the conclusion:
Each of the scenarios I mentioned above could be a confirmation of the beginning of the worst-case scenario. What is it? Confirmation of the decline on the main trend (in the other words; confirmation of bearish main trend).
⭐So, we need to:
1- Stay above the green box
2- Breach red line and close daily with the candle body above it
After these two, a correction towards below this level is not a problem since that will mean the main trend turned bullish again.
Therefore, regardless of the decline or rise, we should look at the charts and prices knowing what each situation means. We should not get caught up in FOMO/FUD by the color of the current candles or how big they are. We should read the price action carefully, step by step.
As I said, I wrote this article quickly to guide you in an emergency. If you notice any errors, please let me know and I will fix it.
If you write the coins/tokens you want me to analyze for tomorrow in the comments, I will try to analyze and share them after the majors.
I hope it helps. 🙏
Peace out!
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
0
0