👃 It Smells Like Bullish Continuation

Big bounce or big fakeout? We'll probably know tomorrow.

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OVERVIEW

👃 It Smells Like Bullish Continuation

It looks like the risk back on the menu. 🥩

And today, we’re all about the charts because things are popping without stopping. Some wild and massive moves are going on post-Fed Day, so keep your eyes peeled.

Here's how the market looked at the end of the trading day:  

Bitcoin (BTC)

$67,724

9.45%

Ethereum (ETH)

$3,487

10.81%

Total Market Cap

$2.46 Trillion

8.82%

Altcoin Market Cap

$1.13 Trillion

8.40%

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STOCKTWITS
Trending Tickers

Here’s a collection of what’s trending on the Stocktwits app and cryptotwitter, or cryptoX (formerly cryptotwitter) or whatever it’s called now:

DATAcoin ($DATA), Celo ($CGLD), Travala ($AVA), GenomesDAO ($GENE), Verge ($XVG), Bismuth ($BIS), Dogecoin ($DOGE), Shiba Inu ($SHIB)

TRADING
Charts Showing Continuation Patterns

Bitcoin

BTCUSD 12-hour Chart - Click to enlarge.

$BTC’s 12-hour chart has a bullish continuation pattern known as a bull flag. Buyers are likely looking to re-enter after a break of the flag’s channel, and a close above the prior swing high at or above $68,618.

Floki Inu

FLOKIUSD Weekly Chart (Left) and 12-hour Chart (Right) - Click to enlarge.

The two charts above show $FLOKI’s weekly chart on the left and the 12-hour chart on the right. The weekly chart shows buyers stepping in at the Tenkan-Sen ($0.000170) and Kijun-Sen ($$0.000165).

On the right side is a very steep channel - not necessarily a bull flag, but analysts and traders treat it as such. As a result, they’re looking at an entry with the same parameters as we saw on Bitcoin’s chart: a close above the channel and the prior swing high at or above $0.000224.

Tezos

XTZUSD 12-hour Chart - Click to enlarge.

The 12-hour chart for $XTZ might as well be a stand-in for a good chunk of the altcoin market—its retrace has been uber-steep, and now it looks like a big bounce is incoming. $1.35 is a place where bulls might be piling in, but if participation on the bounce is weak, the price might just go down again.

However, just a word of warning: The trendline at $1.48 might be a stopping point if bulls can’t keep up the momentum.

Cosmos

ATOMUSD Daily Chart - Click to enlarge.

$ATOM’s daily chart is an awesome Ichimoku chart for one primary reason: the day of the possible turn and end of the pullback could happen right on the Kumo Twist (black vertical line) - which is today.

For Ichimoku traders and analysts, the aggressive entry is any close at or above $11.50. For the more conservative Ichimoku analysts, it’s a close above the Tenkan-Sen and Kijun-Sen, currently near the $12.87 value area.

WEB3
Decentraland

Decentraland’s Art Week, starting March 26-29, features the MESHfair virtual art fair, showcasing over forty artists in an immersive theme of “Exploration.” 🏬

Beyond the festivities, Decentraland is committed to enhancing user experience with a new Desktop Client for improved performance and broader accessibility, including mobile and VR platforms. 

MANAUSD Weekly chart - Click to enlarge.

From a price action perspective, $MANA’s faced the same problems as the broader cryptocurrency market: a retracement and halt to upside movement. MANA’s found strong support against a prior resistance level at $0.542 but continues to struggle against a resistance zone in the $0.80 value area. 🟥

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