Nicohofman

Hello traders and investors who love cryptos, I want to share these analyzes of #bitcoin that I have been following, the price breaks an approximate accumulation of one year and then makes the distribution. From what I see now, bitcoin is in a correction or setback, pullback, whatever you want to call it. , it will be quite strong so we have patience to buy cheaper, supply demand law, excellent 2024 for everyone.#MyFirstFeedPost

Technical analysis of #Solana🚀 yesterday when I wanted to go up and I missed it, I am in since 122 is #altcoin along with #SHIBA✅🚀 which has not yet exceeded its previous ATH of November 5, 2021 which was 260.16, right now the price is at 149.8 with quite a bit of momentum bullish 3/8/2024.

The well-known #Memecoin of #SHIBA✅🚀 had a bullish momentum of 336% in the last 11 days, therefore I would expect a retracement at least to the 79% fibonacci zone to continue the bullish course since the BTC ETF is coming in April and several altcoins They are going to follow its price, take a break and then enter the market, remember that this is not a purchase recommendation since cryptos are quite volatile, they could make you lose a lot of money if you do not inform yourself properly before investing, any investment is your responsibility and nobody else.

About this Bitcoin chart

By comparing the 28-day change in price (%) with the 28-day change in active addresses (%) of Bitcoin we can create a short-term sentiment indicator.

The gray lines on the graph show the evolution of active addresses.

At the outer limits of those gray lines are the standard deviation bands.

Dashed red line = upper limit

Green dashed line = lower limit

The orange line is the 28-day price change (%).

When the orange line reaches the upper limit (dotted red line) it is indicating that the short-term market sentiment is overheated. Because the rate of price increase is exceeding the rate of increase in active bitcoin addresses.

If we zoom in on the graph (by left-clicking and dragging) we can see that this usually corresponds to the price of $BTC (blue line) stagnating and/or retracing.

The opposite occurs when the 28-day price change reaches the lower limit (green dotted line). The market sentiment here is excessively bearish and we often see the price of $BTC increasing from then on.

In extreme market conditions, the 28-day price movement (orange line) aggressively breaks beyond the dotted red and green bands. This usually occurs in a major market decline or in the late stages of a bull market. I may add additional standard deviation bands to capture these movements, but for now I've left them out to keep the graph clean.

Data before 2015 is quite volatile and messy, so this chart starts on January 1, 2015.. #BitcoinETF #BitcoinATH 6/3/2024.

Today I bring you a technical analysis of #PepeMemecoin so that you can see how it can behave in these next few days, after the magnitude of the last impulse that it had in the last 30 days of approximately 874% increase in positive eliminating a zero from its price, it could form a new accumulation to react bullishly again in the #BitcoinETF💰💰💰 5/3/2024 ETF.

Before uploading this post, the price of#Bitcoinbegan to rise again, being at 63,563, I expected it to make a slight correction to 50% of that breaker but it continued bullish right now to almost 65k that I had projected on 4/3/2024.