Good things tend to happen when we get this sort of confluence...
$CRV had a LTF bullish MS break against $BTC, $ETH and $XRP and has now pulled back to the LTF consolidation range that preceded the breakout.
This is where we would like to see a higher low formed for continuation to the upside (and new local highs).
Let's see if it's finally time to curve it...
CRVActivation price $0.2Direction LongType DirectionalTimeframe Short
Max Favorable +12.8%Max Adverse −0.3%Opportunity 0.95Time 1.00Magnitude 0.95Score 0.94
I have a feeling our macro $ETH bottom at $1,500 is going to look very similar to our macro $BTC bottom at $15,000... https://t.co/lfWIhYpClB
ETHActivation price $1,614.03Direction LongType DirectionalTimeframe Short
Max Favorable +13.6%Max Adverse −1.0%Opportunity 0.86Time 0.98Magnitude 0.86Score 0.91
A look under the hood of this recent $CRV rally:
1. Perp CVD has remained relatively flat/neutral during this entire rise off of .18-.19 indicating that this move is primarily spot driven (BULLISH).
2. While spot CVD of major exchanges recently turned down, price continues to rise- indicating spot limit buyers are absorbing the sell pressure and forcing price up. (BULLISH)
3. OI has risen along with this rise in price however we know perp CVD has been neutral and funding is flipping negative, indicating this rise in OI is partially fueled by aggressive shorters and not exclusively aggressive longers (like we often assume when we see price rising along with OI). Because we know spot buyers are absorbing sell pressure and lifting price successfully, it's likely that this rally leads to a short squeeze at some point. (BULLISH)
Send it to our target at .30+ and let's blow those bears out 🫡
CRVActivation price $0.26Direction LongType DirectionalTimeframe Short
Max Favorable +4.1%Max Adverse −5.3%Opportunity 0.56Time 0.22Magnitude 0.56Score 0.50
We left behind untapped supply on both $ETH and ETH/BTC.
In a perfect world we would get one more leg up (which would convince most of a full on reversal) to test both these key zones of resistance BEFORE heading for our local range lows on ETH/USD and our HTF area of interest on ETH/BTC.
But in order for this to happen, $BTC probs needs to find a foothold asap.
ETHActivation price $1,933.4Direction LongType DirectionalTimeframe Short
Max Favorable +0.5%Max Adverse −22.1%Opportunity 0.39Time 0.00Magnitude 0.39Score 0.11
I haven't posted an update on $HBAR in a while because I covered it in my last Youtube vid on alts and nothing has changed- we are still about 20% above the area of interest on the HBAR/BTC chart which is when I think the $HBAR USD pairing will be ready for liftoff.
With that being said, we can see that on the USD pairing we are technically re-testing our HTF accumulation zone.
I am currently watching a potential lower TF range (in blue) and I think that before we see the next expansion phase we are likely to see those range lows again.
That level is currently about ~23% below where we are today and considering the HBAR/BTC pairing area of interest is also ~20% lower than we are today- it seems quite likely that this zone will be met at some point or another.
A 10% $BTC pullback from our HTF supply zone (which we are still battling) would almost guarantee this zone is met imo.
BTCActivation price $80,920Direction ShortType DirectionalTimeframe Mid
Max Favorable +26.9%Max Adverse −1.4%Opportunity 0.96Time 0.97Magnitude 0.96Score 0.93