Cryptorrent Analysis

The owner of this channel has been inactive for the last 1 month. If they remain inactive for the next 7 days, they may lose their account and admin rights in this channel. The channel will remain accessible for all users.

BTC ribbon is begging to cross. This is a big milestone as its the first time to happen in 10 months. We are looking for a complete ribbon cross to confirm bull market. Right now RSI is nearing high, with heavy trending resistance around the 32,33k range. We can see some volatility here as itll likely be rejected before retesting once if not several times. We are leading up into the year of the next halving so things are beginning to look bullish. Keep an eye on the flip. Alts can continue to bounce up until we hit resistance. Find breakouts and look for short to midterm trades. Ive posted what two scenarios can look like, A (Ribbon Breakout) & B (Double Bottom)

The ribbon has not flipped bullish. We are still in a bear market that is currently choppy bullish. We are nearing a resistance so please prepare for more volatility. When the ribbon flips we are confirmed buy all crypto.

When BITCOIN closes over the 300 EMA we will have a reversal confirmation. Watch for this. This is when you can safely enter the market and we can begin to see the 20-55 Ribbon ema start to flip over the next year. When this happens its game on, and I will begin trades, until then I prefer to not have you or myself lose any money contemplating trading in chop market.

AUGUST 2022 BTC CHART UPDATE.

BTC/USDT Update: We are still confirmed bearish until our ema ribbon has flipped and our buy signal engages. Keep in mind there is heavy resistance from 22500-26500 in the case of a breakout, do not get trapped, and there is support as low as 12,000-14,000 in a breakdown. This lower support can change in some months as support trends further down.