Crypto's Important Road to Recovery (Best Altcoin Market Analysis 2021)
Today is good to see that we can actually recover its, not the be all end or its, not the end of the world when it comes to crypto its a really good sign to see this recovery. But at the same time, we still have a long way to go to get back to where we were so. What i would say is sit tight. It starts a dollar cost average. If you have the extra capital or, if not sit on the sidelines, wait for some more bullish price action and then maybe step in, of course, thats not financial advice but thats. Just what i would do in this scenario now. If this all sounds good and well be learning more about this in todays video then leave a like subscribe to. The channel help us get to 200 000. were so so close now, and any help is hugely appreciated. Now the question of the day, if you guys do answer in the comments, is what is your bitcoin price target by the end of october? Do you think it will be about fifty thousand sixty thousand, let us know down in the comments anyway. Lets get straight into it enjoy so guys you can see right now, like i said, the market is up a little bit, not too much nothing crazy, but its nice to see somewhat of a recovery after china, obviously banging banning even more cryptocurrencies and even more cryptocurrency Related businesses so its nice to see things slowly slowly, making their way up again.
Weve got bitcoin over forty three thousand dollars. Weve got ethereum back over three thousand dollars uh. We have cardano down a bit today or quite a lot, actually um xrp down a bit salon up a little bit so on so fourth and the biggest gainer right now in the top 100 is perpetual protocol of 33 percent. Weve got unisop up 20 as well, and then, furthermore, weve got hirobi down 19. You know 47 down again. I believe that some of these – because they are chinese companies, um or companies based in china – they are having a hard time and a lot of people are dumping tokens so uh this. This is pretty understandable, but we are going to cover some technical analysis. Today were going to start off with bitcoin ethereum and we get some altcoins. You guys have been requesting in the comments. As always, if you have enough coin, you want to see done ta on then let us know in the comments so starting with bitcoin. This is very interesting right because on the daily chart, if we bring up our pivot point supertrade indicator, we have reached a bearish point: weve come to a cell position um now i personally dont think were gon na go down too much lower, just based on this Uh overall pattern here, but ill go into that in a little bit more right now. What im seeing is obviously a pretty obvious downtrend. You know anyone could draw a trend line showing you things, arent, looking great with a break of structure.
Here to the downside, we had a push up a further continuation of the downtrend showing us. We are headed down now as long as we do not break below ‘ 573. That means the downtrend is not further confirmed and there is still a chance of us pushing up. We also look on the daily chart. You can see from this level of demand that ive marked out weve, had three wick rejections, showing us theres a lot of buying pressure in these areas. That is a great sign to see, especially on the daily chart, where the candlesticks are a lot more powerful. So if you go into the four hour and we analyze it a little bit further, you can see we had this break of structure here to the upside. So, for me this was a bullish sign and we came back in we tested into this level of demand and we are pushing out of it now. What do we need to see to see things go up? Well, i want to see a break of this trend line, of course, but i mainly want to see a break of the next level of structure, so id love for bitcoin to make its way back up to 48 49 000, but not just make its way up. There also break it and then retest and then hopefully push up from there. I mean my overall target is still stands at 53. 54 000 for the next level of major resistance.
But in the meantime, to break out this channel is what we really need to do, and by breaking above to the upside, by breaking that level. That, hopefully means we can continue, and if we do actually break above 45 200. This means there will be a clear uptrend confirmed right. We have this push up, which breaks this level of structure. Here we have to push down and then, if we do have this push up breaking this level, then that is showing us a clear, clear level. So uh lets get into ethereum right now. Ethereum is looking very, very similar. Weve had that break above here, weve come down tested this area of demand, and now we are pushing up once again so for the uptrend to continue. We want to break 3175, but we will also want to see us push towards 3400 break that hold that hopefully and push up towards ’00 or so, and if we can break ’00 or 4000, that would be fantastic for ethereum and we could start potentially looking at New highs now i still think ethereum is five thousand dollars easily on the cards this year, if not higher right. Obviously, it depends on the rest of the market sentiment. Hopefully, this china thing doesnt keep dragging us down. I think people are realizing, though, that that is not everything. Crypto is you know china doesnt rule all of cryptocurrency, so even without their support, we still will be able to make good gains, still be able to adopt cryptocurrency and still be able to do well.
Ethereum right now it is looking decent, but i do want to see more of recovery, and i want to see this 45 200 level crashed for bitcoin now synthetics network token, one of my favorite tokens out there and uh. It is looking okay right now i mean we have this clear, clear level that we are coming down into its kind of wedge pattern on the daily chart. You can see again very very similar um, and this is usually a bullish pattern right. So, if its a wedge to the downside, so therefore we usually break to the upside um. So what we can see here is an attempt to break higher now if we go into the one hour just to see, if we can get a better look at this, you can see we are close to breaking the previous high. So if we do that, then that signifies more of an uptrend continuation, so we need to break 11 or so and then that will be really really good there for snx it has been a good recovery day, but especially for snx in the last you know few Hours really weve seen it go from nine dollars all the way up to 10.70 or so so. For me, snx is looking fairly bullish, but i would like to see a break above kind of 11 for that bullish, confirmation and a break past. This channel here pushing us to the upside in terms of targets id be looking at probably 12.
50, as my next target now up next is cardano loads of you guys been talking about cardona, we havent covered it in a little while, but weve come in weve tested This level of demand very, very nicely, which is around 1.90, so you guys could have got a really really good deal if you got in there, but we pushed up higher. We broke this high, showing an uptrend continuation. We are still confirming the uptrend in my eyes as long as we stay above 2.06, we have nothing to worry about and i think we can continue pushing upwards. I think its just a little bit more of a deeper retracement into this liquidity pool here and then well push up probably confirming the 2.50 and going up towards the next target, which for me, would be here, which would be this level of supply at 2.60 to 2.78 and guys, if you dont, know what im talking about with supply and demand levels and stuff like that. We do have a course. The crypto busy course its six hours of constant teaching uh, which you guys can find in the link in the description hundred dollars off right now by using the code crypto busy at checkout. So cardano is looking good and i would target 270 to 280 as the next target and then after that thats when we can start looking at three dollars and above and speculating further on where cardonas going to go. I know a lot of people think where is it going to go in terms of uh price predictions, but i like to take things one step at a time.
People wanting us to cover xrp tom, of course loves xrp from a fundamental aspect i like to cover it from a technical aspect, so you can see here on the daily chart. We have this level of demand now this demand level has not been hit. This is at anywhere between 75 and 85 cents. If the price was to come into that, i would definitely expect a nice move up from it. However, that has not happened yet now. What this means is, we can see a uh, a a potential level like this hold or we could come down lower, like i said ill, be, placing some buy orders in there. We have it broken above here, 96 cents or so, which shows there is an upward momentum and like with ethereum like with bitcoin. We could see if we have this continuation and we stay above and we close above what is it a dollar 01 then that would be a perfect uptrend continuation and we could push higher now for me on the on the daily chart. The next main target will be a dollar six or so, but after that we have very clear space to go straight to a dollar. Thirty all the way up to dollar 40., and if we can break that thats when we can start looking at potential crazy gains potential, you know two dollars three dollars so and so forth. Fundamental aspect with xrp as well that you have to take into account.
They have a lot going on right now. If something goes wrong, then just be aware that could lead the price to go down as well, so guys i hope you enjoyed the video.