Bulls Remain Unstoppable – Crypto Piece

Bonus Altcoin Setup At The End

In our last crypto piece from 27^th October, titled “Bitcoin Is Gearing Up For $37.5k”, we highlighted that a lot of people missed the current Bitcoin rally in anticipation of prices below $25k. As a result, sideways movement followed by upside continuation (instead of a pullback) was the path of max pain. That’s exactly what has been happening in the past week. Any pullbacks to the $30.5k - $32k region hereon would be a massive opportunity. With this level of strength, Bitcoin is setting the stage to break through the $35.2k resistance and attempt the $37.5k resistance, and this seems to be highly probable in November itself.

Monthly Timeframe

On the monthly chart, Bitcoin looks very promising. The key monthly resistance level to flip into support is $37.5k. If that’s flipped, it would open the path to the upper $40k region. We’ll discuss potential targets if and when this development occurs.

Cycles Point To Bullish November:

The Composite Cycle (our “Secret Sauce”), Time & Energy Cycle, and Time Cycles all point to a bullish November. While sideways chop is the likely outcome in the first 7-10 days in November (as witnessed in the first 5 days already), thereon, upside becomes the bias based on these Cycles. Note how accurate these Cycles were in calling for a big upside move from mid-October onwards. That’s the power of swimming with the tide!

ETH/BTC Ratio Bouncing:

The ETH/BTC ratio is showing signs of bouncing i.e., Ethereum outperforming Bitcoin. We had highlighted a “Value Zone” for our subscribers, where we believed that such a bounce was highly likely. This was further supported by a bullish RSI divergence (ETH/BTC ratio making a lower low, but RSI making a higher low) on the weekly timeframe. Remember, a bounce isn’t the same as a reversal. While a significant bounce is very much possible, a reversal seems less likely for now. The first target for this bounce would be the 0.0596 level i.e., a 10% move from current levels. In other words, Ethereum is likely to outperform Bitcoin by at least 10% in the coming weeks.

Altcoin Setups Review

In the crypto piece from 11^th October, titled “It’s A Game Of Patience Now”, we had highlighted 2 altcoin setups that looked very attractive: Chainlink ($LINK) and Oasis Network ($ROSE). Both had broken out of a key downtrend and have now ended up with 70% + moves since our mention, with more upside very likely in the coming weeks.

Here’s how they both played out:

Chainlink ($LINK)

Oasis Network ($ROSE)

For those who missed these setups or came onboard our Substack channel after these posts, don’t chase these setups. This crypto market is filled with Money Making opportunities, and we’ll help bring these opportunities to you. That’s exactly what Cycles Edge is here for!

Bonus Altcoin Setup

As a small token of appreciation for all your support, here’s an altcoin support that’s JUST set the stage for a big move up. This setup could easily see a 75 – 100% move within the next 1-2 months. This altcoin is no other than Dogecoin ($DOGE). It has just broken out of its macro downtrend line and retested this line (like the previous successful setups of Chainlink and Oasis Network). Momentum is returning to this crypto with a fresh bullish MACD cross on the weekly timeframe. An aggressive stop can be kept under the latest weekly candle’s low at $0.065, a medium conservative stop can be under the macro downtrend line at $0.062, and a more relaxed stop can be placed under the critical support zone at $0.0557.

Cycles Edge hopes that our followers evaluate these setups based on their own risk tolerance and use these opportunities to Make Money. Until next time!

Disclaimer - All materials, information, and ideas from Cycles Edge are for educational purposes only and should not be considered Financial Advice. This blog may document actions done by the owners/writers of this blog, thus it should be assumed that positions are likely taken. If this is an issue, please discontinue reading. Cycles Edge takes no responsibility for possible losses, as markets can be volatile and unpredictable, leading to constantly changing opinions or forecasts.