Crypto Skull

🔥 Bond Yield Curve Inversion Reaching -1%: Why It's Important An inverted yield curve occurs when the yield on a 10-year Treasury bond falls below that of a 2-year Treasury bond. Normally, longer-term bonds have higher yields than shorter-term bonds. This is because investors demand a higher return for tying up their money for a longer period of time. However, when short-term interest rates rise above long-term interest rates, it can indicate that investors believe the economy will weaken in the future. This is because investors are willing to accept lower yields on long-term bonds if they believe that interest rates will fall in the future as a result of weak economic growth. Essentially, they are willing to lock in a lower yield now, in the hopes that it will be higher in the future.

🔥 BNX Severely Oversold After 1:100 Split: Bounce Opportunity BNX is a token which I've been following for some time now. Looking at the chart, the recent 1:100 split has been a classic buy the rumor & sell the news event. However, the underlying fundamentals haven't changed at all. In the contrary, the split was likely a good decision. BNX is currently severely oversold. In my view, it's too far oversold, so some kind of bounce will come at some point in time. I'm waiting for BNX to confirm a higher-high by closing above the dotted purple resistance. Targets in blue. Be patient.

🔥 GALA Falling Wedge: Wait For Break Out GALA was one of the first altcoins to rise in January, but also one of the first to top out and fall. During GALA's bearish move over the last 5 weeks, a falling wedge pattern has emerged on the chart. Falling wedges are classically bullish reversal patterns. I'm waiting for a bullish break out before considering a position. Keep in mind we can reverse from the top resistance. Targets in blue.

🔥 Bitcoin Low Volatility After Dump: What Next? BTC has been trading in an extremely low volatility area after the huge dump of a couple of days ago. So, what's next? I say we wait until BTC moves out of the yellow box. A bullish case would be that stocks have had a great rally on Friday, while BTC dumped, so we "should" go up and follow stocks. However, I think the bearish case is getting more realistic at the moment, especially with the Silvergate thing going on. So, in my view, this is not a bullish setup. However, we can't make any bullish or bearish calls as long as we're trading inside the yellow box. Patience.

🔥 TrueFi Cup & Handle Pattern Breaking Out TRU has been forming a cup and handle pattern over the last few weeks. At this point, TRU is at the point of breaking out of the pattern. Classically, Cup and Handle patterns are bullish break out patterns. Targets in blue.

🔥 Ethereum Reversal From 14 Month Resistance In my previous analysis on Ethereum I talked about the bear market resistance which was being tested back then. My anticipated break out didn't occur, so no trade has been made. As of today, ETH has bounced from the bear market resistance, but also fallen through the bottom diagonal support line, which is making this setup even more bearish . In my view, we're likely going to retest the top yellow area. If that fails to hold, we might even fall to the second one.

In my view, Bitcoin looks bearish in the short- to medium-term. In my previous rising wedge analysis I mentioned that a bearish break out could lead us to $21,500, but now I think we can even go lower because this is not a "technical" dump, but a news-related one. Once word gets out that big crypto players got hurt by Silvergate, we might see more (forced) selling ahead.

🔥 Bitcoin Dumping On Silvergate Contagion Fears Yesterday, the share price of Silvergate, a cryptocurrency-focused US bank, dropped by nearly 50% in early trading after it delayed publication of its annual report and announced a fresh sale of assets to repay debts, while warning that it was assessing its ability to continue as a going concern. The delay and warning were prompted by its exposure to the collapse of crypto exchange FTX, which it said could hit its profitability, and the possibility of further regulatory scrutiny and legal action. Major partners, including crypto exchange Coinbase, have dropped Silvergate in response. Naturally, this is bad news for crypto. A lot of fears about FTX and contagion have been re-awoken and investors decided to dump their tokens.

🔥 XMR Massive Falling Wedge: Consolidation Expected In my previous XMR analyses I've been talking about a huge bearish channel it which this token has been trading in. After a failed break out, things started looking bearish again. And here we are. Almost 6 weeks further, and still going down. On a positive note, XMR has formed a falling wedge , which is classically a bullish reversal pattern. In my view, it's likely that XMR will keep trading inside this pattern. A break out will be more likely in the next few weeks. Keep in mind that the direction of XMR's break out will be highly dependent on Bitcoin's trading direction.

🔥 OP Volatility Incoming: Important Triangle OP has been slowly but surely forming a bullish triangle over the last month. With OP currently trading at the triangle's support, it's likely that we're going to see more volatility coming. I'm waiting for either a bounce, or a break out. In case of a bullish bounce, the top resistance of the triangle is the target. In case that we fall through, the blue lines are my targets. With BTC falling and the overall stock markets being weak, I deem a bearish move more probable. Time will tell.

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🔥 FTM Bearish Triangle: Bouncing Up! FTM appears to be trading inside a bearish triangle, with a well-defined descending resistance line and a horizontal support zone . After reaching the yellow zone of support, FTM bounced notably. With BTC at a +2% today, it would make sense that we'd get some kind of bounce going over the next 1-2 days. I'm looking at the top of the triangle for a potential exit. Partial profits at $0.49

🔥 MAGIC Bullish Channel Bounce: Great Risk-Reward MAGIC is one of the newer tokens on Binance, which always makes it an interesting high-volatility play. After a massive move, MAGIC appears to be consolidating within a bullish channel . As of this morning, MAGIC has successfully bounced off the lower support of the channel. I'm aiming for the top of the channel. However, consider taking some profits off the table around $1.90 or so.

🔥 Ethereum Bull-Flag: Break Out? ETH has tried to break out two times in the last 24 hours. I'm waiting for ETH to break through the top resistance before considering an entry Short-term targets in blue, changed them a bit from last analysis.

🚨BUT THIS TIME IS DIFFERENT🚨 In the current market, we're actually going down during the hiking cycle. Which can mean either of two things: - We will go up and likely make a new all-time high, all while the FED is increasing the interest rates. - We will crash once the FED will stop the rate hikes, causing even more damage because we are already much lower than before the hiking cycle started.

🔥 Rising Interest Rates Are Bullish? Not This Time! Rising interest rates are bearish , that's what everyone is saying. The reason behind it is actually quite straightforward; lending is getting more expensive, so less to invest, right? Historically, the FED has had several regimes of rising interest rates, see yellow areas. All the previous regimes didn't really have an impact on the markets. In all the previous hiking cycles on the chart the price ended up higher at the end of the hiking cycle compared to the start. Based on this chart one could argue that hiking cycles are actually bullish , and that the real bearishness happens once the hiking has stopped or the rates have been lowered.

🔥 Bitcoin Is Ranging Since June'22: Time Based Capitulation Bitcoin is boring for nearly a year. The most interesting thing that happened was the FTX collapse in November, but that's it. Also, it only caused a marginally lower low. In my view, we're currently inside the "time-based capitulation" period of the bear market. Remember, capitulation (investors leaving) will occur due to prices falling (liquidations) or the market being boring. As long as we're trading inside this box, there's little reason for retail traders to come back. Since traders are mostly interested in bullish price action, nothing worth noting will happen as long as we can't break $25,200. Eventually, BTC will break $25.2k, but it remains unclear when that will happen. We could theoretically trade between $20k - $24k for another few months.

🔥 NEO Perfect Fibonacci Bounce: Gains Coming? NEO was one of the bigger winners last week, but this week has been quite dramatic. However, NEO found strong support at the 0.618 Fibonacci retracement . The 0.618 is often a strong area of support, especially for good performing assets. I'm looking at the yellow areas for potential short-term targets. If BTC will remains stable (or go bullish ), NEO might even make a new local high next week.