Technically Speaking – March 5, 2024

Well, like I said, this isn’t a fun Litepaper. Instead of finding wen-Moon or wen-Lambo, we will be looking for wen-bottom. πŸ’”

I’ll keep it short and sweet, quickly identifying where analysts and traders see strong support levels ahead.

Real quick: Last Friday’s Litepaper discussed in detail the warnings about today’s selling pressure using time cycle magic 8 ball 1-800-MISS-CLEO voodoo chicken bone analysis. You should give a read through.


ADAUSD Daily Chart – Click to enlarge.

On the daily, between 30-day moving average and the 38.2% Fibonacci retracement is the first support zone. On the weekly (not shown), it’s looking like the $0.55 value area for $ADA.


XTZUSD Weekly Chart – Click to enlarge.

You know, this price action is pretty damn crazy. As I was typing this: I’ll make this simepl: the 30-day moving average, well, that’s exactly what happened with $XTZ.Β 

On the weekly chart, the 50% Fib retracement at $1.10 looks like an enticing spot for traders and analysts waiting for a deeper retracement.Β 

Shiba Inu

SHIBUSD Daily Chart – Click to enlarge.

This daily candlestick should come with a warning label, good Lord the swings are wild today.

Well, $SHIB launched right off the 50% Fib retracement, so that’s cool. Below that, we’re looking at the 61.8% Fib, and because the 30-week moving average will tick higher, the $0.00001600 to $0.00001650 looks strong.Β 


DOGEUSD Daily Chart – Click to enlarge.

$DOGE army, don’t kill me. There’s extended, overbought, off in la-la-land, and then there’s whatever DOGE’s chart looks like (in fact, $FLOKI, $BONK, and all the others fall into this, too).

If the 50% Fib doesn’t hold, then there’s an ugly space between the 61.8% at $0.1210 and the 30-day moving average at $0.1069.

More in   Crypto

View All

NFTs R Back?

Not much needs to be said here for this newsworthy event. πŸ€¦β€β™‚οΈ

Straight from the Gurg himself:

Read It

Bitcoin Allocations Matched With Gold?

Will Bitcoin ever match the gold in investors’ portfolios? πŸ…

JP Morgan ($JPM) thinks that for Bitcoin to rub shoulders and match the allocation of gold in investor portfolios, its market cap would need to skyrocket to $3.3 trillion.

Read It

BlackRock’s Bitcoin ETF Surpasses Silver Trusts with $10 Billion in Assets

When the first gold ETF came out, it took a couple of years to reach $10 billion in AuM (assets under management). How long did it take Blackrock’s $IBIT? 2 months. 😱

Bitcoin spot ETFs have now eclipsed the largest silver trusts regarding assets under management (AuM), setting their sights on surpassing gold trusts next. According to recent data from HODL15Capital, BlackRock’s IBIT has achieved an impressive milestone, amassing an AuM of $10.03 billion, translating to a remarkable year-to-date (YTD) increase of 35.2%.

Read It