FieryTrading

Over the last two weeks I've become increasing bearish on Bitcoin . The technical reason for this the fact that BTC fell through the blue dotted support, which gave bears the overhand on the longer- and shorter time frames. The main systemic reason to be bearish at the moment is fueled by the Silvergate cryptobank liquidation and the potential contagion to other banks. The first bank on the list has already (most likely) gone bankrupt: Silicon Valley Bank $SVB. See below. Banks going bankrupt was one of the main causes of the Financial Crisis in 2008. If we will see more banks getting hit there's some serious risk for a massive sell-off in both stocks and crypto. Is this week the 2023 version of Lehman going bankrupt? As for Bitcoin , if the yellow area & bottom support of the channel fail to hold there's a serious case to be made that BTC will make new lows in the not so distant future. Do you think we're going to make new lows? Share your thoughts!🙏

HOOK has been selling off for practically a month at the moment. However, I think we can expect some sort of bounce in the near future. I copied the top dotted trendline and attached it to the December lows to create a parallel channel . I'm waiting for HOOK to hit the bottom resistance of the channel before considering an entry. Targets in blue. Keep in mind that this is a risky trade.

In my last FTM post I discussed the falling wedge pattern drawn on the chart. My expectation was that FTM would continue to trade within this pattern. A couple days later we can safely say that the market conditions have deteriorated significantly after Powell's speech. FTM has broken through the wedge's support and is currently in the process of retesting the support as resistance, a classically bearish happening. In my view, it's highly likely that FTM will keep on falling. I'm looking at the two blue lines as initial targets.

ATOM has been leading the bearish pack over the last few weeks. Where most alts saw some minor pumps or flat periods, ATOM has been going down all the time. As popular theory suggests, sell the losers and buy the winners. So, we're scouting a short-entry for ATOM. ATOM is rapidly advancing towards the bottom support of the triangle pattern . Personally, I'm waiting for a break out before considering a short. Patience is key. Short-term targets in blue

In my most recent TRU analysis I talked about the Cup & Handle pattern which appeared on the chart. Although TRU didn't hit my exact target, it still made a huge >30% move after my previous analysis. Congratulations if you took the trade. Since topping out around 0.144, TRU has been in a slight downtrend. However, it seems that TRU has found a local bottom. Two most important overlapping supports: - The bottom dotted support is an exact copy of the top resistance, making it a perfect parallel channel - The hourly RSI has hit oversold for the first time in almost three weeks, back when the price was still 0.0575 I'm looking at 0.113 as my first target. Second target is the top of the parallel channel .

After FED Powell's talk last night, both stocks and crypto have been selling off. Bitcoin has arguably lost it's last bullish support during the speech. This is bearish , at least in the short-term. In my view, it's likely that BTC will continue to fall. I'm looking at the blue lines as my targets.

SOL has been trading inside a range for nearly 7 weeks now. However, with BTC's outlook deteriorating it's time to look for a potential bearish break out of said range. I'm waiting for SOL to fall through the yellow support area . A candle close below this area might signal a further sell off. Target in blue.

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. An inverted yield curve can lead to a number of problems. For example, it can make it more difficult for banks to make money. This is because banks borrow at short-term rates and lend at long-term rates. When the yield curve is inverted, the interest rates that banks earn on loans are lower than the interest rates they pay on deposits. This can squeeze bank profits and make them less willing to lend. And we all know, less money in the market means less potential (risky) investments. An inverted yield curve can also be a sign of a potential recession. Historically, an inverted yield curve has preceded every recession in the United States since WW2 . This is because an inverted yield curve can indicate that investors are pessimistic about the future of the economy. They may be selling off stocks and other assets, which can lead to a downturn in the stock market and a decline in consumer confidence. In conclusion, an extremely inverted yield curve like now is a situation in which short-term interest rates on government bonds are higher than long-term interest rates. This can indicate potential economic problems, including a recession and difficulties for banks. While an inverted yield curve is not a guarantee of a recession, the probability of the current yield inversion suggesting a coming recession is very high. It's going to be an interesting year.

FTM has been trading bearish for the better part of February. Like many other tokens, FTM has been forming a falling wedge pattern over the last few weeks. With today's bullish move, it's quite possible that the low is in for now and we will see a bounce in the next day or so. I'm looking for a move towards the top resistance. Not sure if we'll break out, we'll see by then.

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.