One Point Trading

We’ll provide you with a decent analysis based on the technical and fundamental. Main analysis for cryptocurrency, forex and stock. And of course #DYOR

[One Point Trading @onepointtrading]

#Bitcoin

Based on this EW analysis, the bottom is probably nearer that the most people thought.

Beside all of the current chaotic selling pressure, the EW is rarely wrong and for sure, it's a good time to accumulate.

[Junosats @Junosats]

It really boils down to one major difference: Leverage.

Everyone knew the rate cut was coming (we were 94% priced in). But while the stock market played it safe, crypto traders got greedy and piled into 100x leverage positions expecting an instant moon.

When the news finally dropped, smart money started taking profits. That small dip was enough to wreck those high-leverage positions. One liquidation triggered the next, causing a chain reaction of forced selling that dragged the price down.

We are just wiping out the gamblers. Once this sweep is done, the catch-up rally usually begins.

[Arthur Hayes @CryptoHayes]

Word on the street is that big CEX’s auto liquidation of collateral tied to cross margined positions is why lots of alts got smoked on the move down. Congrats to all you stink bidders. We won’t be seeing those levels any time soon on many high quality alts.

[One Point Trading @onepointtrading]

@JoshMandell6 @Junosats Josh out here acting like MSTR broke capitalism. No bro, they just beat your heroes at their own game, and with Bitcoin, which is why you’re salty

[One Point Trading @onepointtrading]

$BTC

Maximum pain scenario for this drop is to $63k as this area is providing us a great support area.

As of now, $66.5k is still providing support. Volume is decreasing so we might anticipate volatility.

[One Point Trading @onepointtrading]

No sector got liquidity from today's movement,

Market is very slow while $BTC is tanking.

Need to stay away from market.

[One Point Trading @onepointtrading]

The other L1 project which could get inflow from the recent $SUI hype is $APT .

These 2 projects are like twin brothers, APT should play catch up.

[One Point Trading @onepointtrading]

$SUI / $SOL comparation. The money shifting from latest SUI hype to the other L1 is starting to run.

SOL is gaining strength against SUI.

[One Point Trading @onepointtrading]

$SUI / $SOL comparation. The money shifting from latest SUI hype to the other L1 is starting to run.

SOL is gaining strength against SUI.

[One Point Trading @onepointtrading]

$BTC

On LTF, there is this kind of rising wedge pattern to play out as there is exhaustion in the momentum.

$68k is providing a support but the maximum correction could be around $66.5k level.

[One Point Trading @onepointtrading]

$BTC

In the higher time frame, we see a strong bullish movement as the price has broken out above this flag pattern.

This is a strong validation move for the continuation higher.

If price can sustain above this resistance zone, there is huge chance that we will see $72k soon.

[One Point Trading @onepointtrading]

Based on current price action, $BTC is entering the area of high liquidity.

It means that if it can take out the area of value, we will see huge short squeeze possible above ATH.

Current area of value is at $70k - $72k level.

[One Point Trading @onepointtrading]

The recent NFT push was mainly because of $APE spiked for 154% during the weekend.

[One Point Trading @onepointtrading]

NFT sector is leading current up trend while $BTC is pushing to $70k region again.

[One Point Trading @onepointtrading]

Until the end of the year, we expect an increase in $BTC dominance which Bitcoin will goes up together with the $DXY .

During this period, altcoins might goes up too but will not outperform the BTC.

Bitcoin dominance to 60%.

[One Point Trading @onepointtrading]

We are still being very cautious about current market behavior. $DXY keeps pushing while the risk on asset is also showing us a push.

This causes a shrinking in liquidity in the market. That's why altcoins might not perform in the near future.

[One Point Trading @onepointtrading]

$BTC

Price is still trending at previous broken resistance which is now acting as suppot.

A bounce in the blue zone around $65k to $64.5k is very likely.

We'll wait longer for this and be patient before taking any position.

[One Point Trading @onepointtrading]

$BTC

It's now the first time that the price has broken out above the flag pattern here.

We will not be aggressive for adding more position. Instead, take some of the profit.

Potentially a correction to the FVG first before continuing higher.

Target at $72k.

[One Point Trading @onepointtrading]

Some big cluster of longs can be liquidated first up to $65k and below before the break out perform.

Watch out for longs. We better wait for clear break out above $68k

[One Point Trading @onepointtrading]

$BTC

[One Point Trading @onepointtrading]

Last time the price traded at $68k, we saw the open interest was trending near the liquidation zone. As of now, it's still having some room to the upside while the funding rate remains flat.

It means that current pump is not overheated and more solid compared with the last pump.