CRYPTO MECHANIC
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Trading Crypto Since 2016 | Mainly Focused on Technical analysis š¢ Twitter @cryptomechanicX
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Blessed to be recognized by Top Crypto exchange Binance
two years and we got 3 Awards
I wouldn't take any credit because it wouldn't be possible without your love and support and i would like to dedicate these awards to my followers. You all are like my family. ā¤ļø
I will continue to bring value in your trading journey.
Thank you for your support ā¤ļø
two years and we got 3 Awards
I wouldn't take any credit because it wouldn't be possible without your love and support and i would like to dedicate these awards to my followers. You all are like my family. ā¤ļø
I will continue to bring value in your trading journey.
Thank you for your support ā¤ļø
Itās been 5 days, and my family and I have been fighting flu, cough, body aches, and fever
Prayers needed.
Prayers needed.
Bitcoin is still trading within the daily range.
US inflation (CPI) data is due today, expect some Volatility during the NaY session.
US inflation (CPI) data is due today, expect some Volatility during the NaY session.
Throwback to 2016ā2017, when we were trading Altcoins against BTC (XRPBTC, ETHBTC), not USDT.
No endless stablecoin pairs. No hundreds of new coins every week.
Spot trading was king, and futures had barely 5ā10 coins at most.
The market structure was simple.
Fewer coins, less noise, and far less manipulation.
You bought spot
You waited
You sold only to take profit or cut loss
No 50xā100x leverage.
No constant shorting.
No funding rate games.
No algos hunting every small move.
That was the era when we witnessed the greatest altseason of all time.
Today we have:
Infinite leverage
Perpetual shorts
Too many tokens
Too much noise
Way less patience
And worst tokenomics
Good old days, Probably never coming back
No endless stablecoin pairs. No hundreds of new coins every week.
Spot trading was king, and futures had barely 5ā10 coins at most.
The market structure was simple.
Fewer coins, less noise, and far less manipulation.
You bought spot
You waited
You sold only to take profit or cut loss
No 50xā100x leverage.
No constant shorting.
No funding rate games.
No algos hunting every small move.
That was the era when we witnessed the greatest altseason of all time.
Today we have:
Infinite leverage
Perpetual shorts
Too many tokens
Too much noise
Way less patience
And worst tokenomics
Good old days, Probably never coming back
Remember what crypto mechanic told you when $XPL was launched?
Its down 90%
Its down 90%
CRYPTO MECHANIC
--
I think $XPL is overvalued.
$2.35B marketcap for a newly launched coin is actually so high.
I don't think it will sustain it for too long.
{spot}(XPLUSDT)
$2.35B marketcap for a newly launched coin is actually so high.
I don't think it will sustain it for too long.
{spot}(XPLUSDT)
Bitcoin continues to trade within the range, Tapped range low yesterday and bounced. $88200 - 89200 will be a key zone to watch. It is the mid range and the zone price broke yesterday.
Reclaim Above mid range - Price can go for $93k again
As long as its below 89200 - it can go for range lows once again.
As the price is ranging we have to focus on these levels, personally i will just avoid this chop as i have been, As a SPOT only trader the risk and reward here is not attractive.
Reclaim Above mid range - Price can go for $93k again
As long as its below 89200 - it can go for range lows once again.
As the price is ranging we have to focus on these levels, personally i will just avoid this chop as i have been, As a SPOT only trader the risk and reward here is not attractive.
Iāve been thinking about this for a long time, so I thought Iād share it with you.
I keep asking myself: what is left that can actually pump crypto now?
Weāve already had almost every bullish catalyst:
We had a pro crypto US government.
We had ETFs.
We had Saylor buying billions he almost $2B in the last two weeks.
We had institutional demand and DATs
We were expecting rate cuts to pump the market. we got three consecutive rate cuts, and still nothing happened.
At the same time, Gold, Silver, Nasdaq and SPX are all at all-time highs.
Historically, crypto moves with the same macro and liquidity forces.
But this time, crypto just didnāt perform.
When I think about all this, one question keeps coming up:
What does crypto actually need to move?
Or are we simply at a stage where all the good news is already priced in, and price now needs time rather than news?
This isnāt panic.
Just an honest thought.
I keep asking myself: what is left that can actually pump crypto now?
Weāve already had almost every bullish catalyst:
We had a pro crypto US government.
We had ETFs.
We had Saylor buying billions he almost $2B in the last two weeks.
We had institutional demand and DATs
We were expecting rate cuts to pump the market. we got three consecutive rate cuts, and still nothing happened.
At the same time, Gold, Silver, Nasdaq and SPX are all at all-time highs.
Historically, crypto moves with the same macro and liquidity forces.
But this time, crypto just didnāt perform.
When I think about all this, one question keeps coming up:
What does crypto actually need to move?
Or are we simply at a stage where all the good news is already priced in, and price now needs time rather than news?
This isnāt panic.
Just an honest thought.
I donāt even remember the last time I shared a buy setup for altcoins. Itās mostly been BTC since prices broke the uptrend.
Personally, Iām just sitting on the sidelines and watching the market. I havenāt got any entry trigger. This is not the kind of market that favours my trading style.
Personally, Iām just sitting on the sidelines and watching the market. I havenāt got any entry trigger. This is not the kind of market that favours my trading style.
$BTC Update on the pattern i shared and said we might see some volatility this week.
It didnāt hold that low and dropped further. My guess for a breakout to the upside was obviously wrong.
Whatās next?
When price breaks a key zone, things usually become pretty clear for the next move.
As long as price doesnāt reclaim the broken zone, you simply expect it to continue its trend.
Besides the lower timeframe moves, we are still within a range the same range Iāve been sharing for the last two weeks.
It didnāt hold that low and dropped further. My guess for a breakout to the upside was obviously wrong.
Whatās next?
When price breaks a key zone, things usually become pretty clear for the next move.
As long as price doesnāt reclaim the broken zone, you simply expect it to continue its trend.
Besides the lower timeframe moves, we are still within a range the same range Iāve been sharing for the last two weeks.
CRYPTO MECHANIC
--
Bitcoin took the lows.
Too early to say if this was it. Sunday moves have never been reliable.
Ideally, I want to see price hold that SFP. If it does, I think the scenario will likely play out and we get that EOY rally.
Too early to say if this was it. Sunday moves have never been reliable.
Ideally, I want to see price hold that SFP. If it does, I think the scenario will likely play out and we get that EOY rally.
$ASTER Update
New Binance low soon?
New Binance low soon?
CRYPTO MECHANIC
--
$ASTER been down since I made an update on it.
Price still looks weak, it retested the same zone but got rejected.
I think more downside is likely as long as price doesnāt reclaim the 1.13 zone.
Price still looks weak, it retested the same zone but got rejected.
I think more downside is likely as long as price doesnāt reclaim the 1.13 zone.
What will happen with $BTC if Saylor stop buying?
CRYPTO MECHANIC
--
What will happen with $ETH if Tom Lee stop buying.
$BTC was ~$92k five days ago.
Strategy bought 10,645 BTC.
Price didnāt even flinch, itās actually down ~6%.
How?
Strategy bought 10,645 BTC.
Price didnāt even flinch, itās actually down ~6%.
How?
Bitcoin is Getting Ready For A Breakout?
Itās been four weeks since Bitcoin has been stuck in the same price range, after a straight move down from $126k to 80k, and now here we are, with the price not really doing anything for these four weeks. So, in this article, weāre going to take a look at what might happen will we finally see a breakout this week? Letās go straight into the charts
BTCUSDT (Weekly)
Before we talk about the current picture, let me remind you about the overall picture. On the Bitcoin weekly chart, itās still within the same downtrend, and it will remain in a downtrend as long as we donāt see Bitcoin reclaim the 98,000 to 100,000 level because this is where the bullish structure broke.
BTC Weekly Range
Last week, we talked on the weekly chart about how Bitcoin is stuck in a range, and that range is a low of 85,000 and a high of 93,000, and somehow itās still the same. I think a directional breakout will only happen on the weekly chart when Bitcoin manages to hold above or below one of these two areas.
BTCUSD (Daily)
The daily chart for Bitcoin is also the same thereās no close above the 93,000 high or the 85,000 low. That means we donāt really have any clear trade setup on the daily chart. If youāre trying to trade this range, youāre basically just guessing and playing around. In reality, thereās no clear direction based on the current picture we have of Bitcoin. You can trade it if youāre good at range trading, but if youāre not sure whatās going on, I think you should wait for the price to hold above one of these two levels.
Bitcoin Breakout This week?
One thing I want to put your attention on is this ascending triangle, I think there isnāt much room left in it, and this makes me think that maybe weāll see a breakout this week. I also shared it on my profile you might have seen, i said that a breakout could happen next week.
The same zone of $93k zone is the zone price needs to break and On the other hand, we have the 87,500 low, and its also aligning with that trendline maintaining the higher lows.
We had a fakeout yesterday. I think Yesterday low will be the key to watch this week based on the trendline and higher lows we have. If price manage to hold that low, I think we are good. Breaking below it wouldn't be ideal for Bulls.
This is it for this weekās update guys, Nothing much to update, still waiting game
Which way you think Bitcoin will break, Up or Down?
BTCUSDT (Weekly)
Before we talk about the current picture, let me remind you about the overall picture. On the Bitcoin weekly chart, itās still within the same downtrend, and it will remain in a downtrend as long as we donāt see Bitcoin reclaim the 98,000 to 100,000 level because this is where the bullish structure broke.
BTC Weekly Range
Last week, we talked on the weekly chart about how Bitcoin is stuck in a range, and that range is a low of 85,000 and a high of 93,000, and somehow itās still the same. I think a directional breakout will only happen on the weekly chart when Bitcoin manages to hold above or below one of these two areas.
BTCUSD (Daily)
The daily chart for Bitcoin is also the same thereās no close above the 93,000 high or the 85,000 low. That means we donāt really have any clear trade setup on the daily chart. If youāre trying to trade this range, youāre basically just guessing and playing around. In reality, thereās no clear direction based on the current picture we have of Bitcoin. You can trade it if youāre good at range trading, but if youāre not sure whatās going on, I think you should wait for the price to hold above one of these two levels.
Bitcoin Breakout This week?
One thing I want to put your attention on is this ascending triangle, I think there isnāt much room left in it, and this makes me think that maybe weāll see a breakout this week. I also shared it on my profile you might have seen, i said that a breakout could happen next week.
The same zone of $93k zone is the zone price needs to break and On the other hand, we have the 87,500 low, and its also aligning with that trendline maintaining the higher lows.
We had a fakeout yesterday. I think Yesterday low will be the key to watch this week based on the trendline and higher lows we have. If price manage to hold that low, I think we are good. Breaking below it wouldn't be ideal for Bulls.
This is it for this weekās update guys, Nothing much to update, still waiting game
Which way you think Bitcoin will break, Up or Down?
$SOL Chilling around 18 months of support is kinda scary š¬
You don't want to see it lose this
You don't want to see it lose this
Bitcoin took the lows.
Too early to say if this was it. Sunday moves have never been reliable.
Ideally, I want to see price hold that SFP. If it does, I think the scenario will likely play out and we get that EOY rally.
Too early to say if this was it. Sunday moves have never been reliable.
Ideally, I want to see price hold that SFP. If it does, I think the scenario will likely play out and we get that EOY rally.
CRYPTO MECHANIC
--
Itās been almost a month since Bitcoin has been stuck in this range. With the end of the year approaching, I think we could see volatility kick in as early as next week.
If I had to guess the direction, I think we might see an end of year rally, either starting from the $89kā$90k zone, or after one more flush of the lows.
If I had to guess the direction, I think we might see an end of year rally, either starting from the $89kā$90k zone, or after one more flush of the lows.
The ability to do nothing while there is nothing clear in the market is a far greater task than people imagine.
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