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- š It Smells Like Bullish Continuation
š It Smells Like Bullish Continuation
Big bounce or big fakeout? We'll probably know tomorrow.
OVERVIEW
š It Smells Like Bullish Continuation
It looks like the risk back on the menu. š„©
And today, weāre 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
Hereās a collection of whatās trending on the Stocktwits app and cryptotwitter, or cryptoX (formerly cryptotwitter) or whatever itās called now:
TRADING
Charts Showing Continuation Patterns
Bitcoin
$BTCās 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 flagās channel, and a close above the prior swing high at or above $68,618.
Floki Inu
The two charts above show $FLOKIās 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, theyāre looking at an entry with the same parameters as we saw on Bitcoinās chart: a close above the channel and the prior swing high at or above $0.000224.
Tezos
The 12-hour chart for $XTZ might as well be a stand-in for a good chunk of the altcoin marketāits 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 canāt keep up the momentum.
Cosmos
$ATOMās 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, itās a close above the Tenkan-Sen and Kijun-Sen, currently near the $12.87 value area.
WEB3
Decentraland
Decentralandās Art Week, starting March 26-29, features the MESHfair virtual art fair, showcasing over forty artists in an immersive theme of āExploration.ā š¬
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.
From a price action perspective, $MANAās faced the same problems as the broader cryptocurrency market: a retracement and halt to upside movement. MANAās 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. š„
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