Above: Bitcoin (BTC / USD) weekly chart
Notes in May It has the highest stock market: “Sell in May and away”. Risk assets typically face a lot of pressure in May and there may be a sell-off or a lot of trouble. The chart above is Bitcoin̵7;s full price history (weekly chart) .Bitcoin did one of three things in May in the past:
1. Closing of sales in the first week of May.
2. Sales are closed at the end of May.
3. Consolidate accounts throughout the month of May.
May be an uptrend But the end result in the past is the lower prices. Please be aware of this when we enter May.
Bitcoin (BTC / USD)
Above: Bitcoin (BTC / USD)
Bitcoin daily chart is at the point of creation or breakpoint. Saturday’s current highs have stopped against the 88.6% Fibonacci Retracement, a very nasty Fibonacci level that basically slaps the price away from it.The Ichimoku system is showing bullish conditions – but the Lagging session could lure bulls at. This is wary of the lagging period that will drop below the candlestick, especially if it drops below 55,260.A bearish divergence exists between the RSI and the composite index as well, if Bitcoin is rejected here, the ABC correction wave. The broader will likely cease to 36,935 (161.8% Fibonacci extension). Watch a quick trip to this zone if both the price and lagging sessions are trading below Kumo. Kumo mention: there might be strong support for Bitcoin if It is down Senkou Span B to a strong support at 52409 and if the Lagging Span moves lower. (May catch bears) We will see Lagging Span found support at 44,000 zones very touching for Bitcoin.
Above: Cardano Weekly Chart (ADA / USD)
If you haven’t watched my Cardano video over the weekend, please go and watch. I mention a very nice setting on the Point & Figure chart, where our profit target of $ 2.40 on the better setting on the weekly Ichimoku chart and the Point & Figure chart could be a strong performance for Cardano to follow. With a big mistake if we think Cardano will follow the rest of the lower market. The four weeks of higher madness could mean a quick throwback to our present value area.
In the meantime, the trade ideas I introduce in my videos are the best I have right now. Stop buying at 1.60 confirms the entry of a key point in the Point & Figure chart by complementing a bearish counterfeit like a catapult. The combination of the two styles is enough to see Cardano launch into the 2.40 value area.
Above: Ethereum weekly chart (ETH / USD).
Ethereum has performed well over the past week – but we should be looking at the top soon. The 3300 – 3400 value area is Ethereum’s near-term stop. The week points to the confluence of the Fibonacci levels around the 3300 to 3400 value area.Also note the difference between the RSI and the composite index on the weekly chart, which is a big warning sign that a downtrend might be imminent. Additionally, next week starts the seventh week in the current leg for Ethereum and is in Gann’s 49-day death cycle, providing further warning about the potential for an upside.If Ethereum reaches the 3300-3400 value area, I’ll ask. Shrink it to approximately 2200 or look at the 2200 value area to place a limited order.