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Technical Analysis

Crypto Assets Technical Analysis

BTC Analysis

Weekly ->> Daily –>> 4H

Weekly

  • In the Weekly time frame, Price again tapping the key yearly support at 19k.
  • The first tap gave the reaction of 30% toward the upside but was not able to reach the multiple support breakdown level of 30k.
  • As per the technical theory, By each test of support, gets weaker, the current test is the 2nd test of the support line at 19k.
  • Failing to hold the support will put price action into more fearful price action toward a downward direction.

Daily

  • The previous week’s analysis won’t exactly covered any particular direction calls, as after CPI reports price had reacted with flash wick dump.
  • Since then the direction of the price hasn’t shifted in any major direction, been slowly ranging around the lows of the current range.
  • As of per the 2nd-week sept analysis report, personally would have anticipated the price to take the lows of the 18k as Liquidity suckup then to reverse in its direction -> reclaiming the weekly open (19.800-20.000) could give any perspective to price to range between in its current range.
  • Till any key price is tagged, need to wait for any dominant resolution.

ETH Analysis:

Daily

Chart 1 (previous week’s ETH Daily Chart)

  • The previous anticipation was, as if the price fails to hold the 4H OB, it will slide back down toward the 1200 region

Chart 2 (Current week ETH Daily Chart)

  • The price plunged back into the lower area of the range, as expected it tapped the 1300 level i.e range high of lowest accumulation price back in July & Aug.
  • Making 30% move in the favourable direction.
  • The current HTF outlook is nothing different than an ongoing trend, but as LTF price movement, to make every move as efficient, price moves back-forth .
  • The anticipation of the next price movement is to range and develop a base in the zone 1100-1200 price zone and build a structure to shift toward the upside.
  • Failing to develop as anticipated, could print the price the same structurally expected with BTC, so until then, need to price to tag key level here.

ETH 4H

  • Inclined with price probable projection, as if followed the reclamation of certain price levels
  • Take the lows of 1100 -> form base -> reclaim 1300 -> tag 1600-1700.
  • If the bear gets dominant as it still now, correlating with BTC breaking of 18k in BTC will lead the price to plunge in all crypto asset
  • ETH – breaking of 1100, will shift price in a highly critical situation and could lead to breakdown toward 500 price level.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.