Octopus Analysis

2022-09-20 09:51:19 Tether's (#USDT) Dominance breaks the dynamic resistance

Despite the rising guard that it has taken after breaking the trend line and pullback, Tether's Dominance still feels the shadow of negative divergence in the RSI index over its head.

It is doubtful that Tether's Dominance will cross the 7.9% level soon; unless something surprising happens in the market.

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2022-09-19 15:43:35 Bitcoin (#BTC) %20 down in last seven days

Bitcoin's price surge from $18,500 to $22,500 went nullified as the new week began. Bitcoin lost the $19,000 level again and is currently moving around the $18.5k price.

A slight divergence is also evident in the RSI index, which may hold the current price level for a short period.

If the current support breaks, the next support levels are the $15.8k and $14k ranges.

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2022-09-18 12:29:23 Near price just completed a bullish pattern on the daily chart of Near in the Bitcoin pair (#Near/BTC).

The 30-day MA (blue) and the 50-day MA (pink) acted as resistance against the price, but they became a support area after the price crossed them up.

On the opposite side, The 200-day MA (light blue) is an actual resistance for the price.
However, The trend is still upward.

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2022-09-18 12:28:59 Near (#NEAR) bullish movement in the last three months; ‌Slow and steady

After hitting its lowest price in 2022 ($2.87 - blue circle), Near has been slowly moving higher. In this process, the price created higher lows (white lines) every time and experienced a 100% growth up to $6.

The overall trend is bullish, but if the price fails to break the $5.27 level, we can say that the upward trend has weakened.

The 30-day (blue) and 50-day (pink) moving averages can act as obstacles against Near price.

If the upcoming resistances break, we can expect the price to hit the 200-day moving average (light blue) in the price range of $6 to $7.

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2022-09-17 17:00:57 Polygon (#MATIC) is down 16% in 3 days; Here are the next support and resistance levels.

Matic was one of the coins that performed very well with a 230% price growth (from $0.3 to $1) in Bitcoin's recovery from $17,000 to $25,000, but the 200-day trend line prevented further growth of this coin.

As the bullish channel couldn't prevent the price from decreasing, after a probable pullback, the price will move towards its closest support at $0.75.

It seems that the price will continue to move in the range for a few more days, then traders will decide how the trend will continue; meanwhile, the RSI support trend line has been broken, which can be a sign of further decline.

However, with the trendline break, the first primary resistance will be the $1 price level. On the opposite side, with the suspension of the $0.75 level, the next support would be the $0.5 level.

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2022-09-16 19:29:16 Aave (#AAVE) broke its 450days-trendline

In weekly time frame, we can see that downward trendline has been broken after 60 weeks and price has been settled above the trendline for few weeks.

In the daily time frame, price boringly moves up and down between 77 and 95 dollars.

Despite breaking of the trendline, weakness of movement is quite evident in last few weeks.

The previous price encounter with the $77 level was promising as a support level, but this time, for testing strength of this support, we have to wait until today candle close.

However, a break of the $77 level seems likely. If this range is broken, the next price supports can be the ranges of $65 and $53.

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2022-09-15 17:59:21 310 days of Bitcoin (#BTC) bear market

Congratulate yourself, if you haven't given up yet...

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2022-09-02 22:02:06 BTC/USDT: MA interesting signs 1D

There are many criterions for identifying trends, one of them is using moving averages. In the above chart, combination of EMA 15 (thick line) and SMA 45 (thin line) is used as a parameter for recognizing BTC trend.
According to history of BTC chart, as long as the EMA moves below the SMA, the downward trend of the market will continue.

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2022-08-29 19:53:44 #DXY index - 2 Month

U.S Dollar Currency Index Just hit a new 20 year high.

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2022-08-27 12:19:11 #BTC/USD - 4H

As you can see in the picture, a rising wedge pattern has formed in 2h & daily time frames.

According to the announced news and the forecast of a 0.5% interest rate increase in the next month, the market is expected to continue to decline.

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