Cryptocurrencies Weekly – 14 May 2024

The weekly Cryptocurrency report.
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CRYPTOCURRENCIES: BITCOIN (Daily)

VIEW RETAINED: VOLATILE MOVES AS BULL TREND UNWINDS

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Level: 61600
This report is for informational purposes only. Click to see the full disclaimer below.

CRYPTOCURRENCIES: BITCOIN (4 Hourly)

VIEW RETAINED: LK CORRECTION MATURING

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Level: 61600
This report is for informational purposes only. Click to see the full disclaimer below.

CRYPTOCURRENCIES: ETHEREUM (Daily)

VIEW RETAINED: VOLATILE MOVES WITHIN THE T2/S1* RANGE

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Level: 2896The bull trend to T2 is ongoing with volatile swings and corrections, as anticipated. The current PK wedge is in the final phases of development with any further downside limited to S1*. Completion of the PK wedge around K/S1* should lead to renewed gains to T1, as part of the ongoing bull trend. T2 is expected to be the final bullish target over time, followed by meaningful downside to at S2 and S3. S1* is the negation level for the bullish bias. A break of P will activate gains to T1/T2.
This report is for informational purposes only. Click to see the full disclaimer below.

This report is for informational purposes only, does not constitute an offer, or solicitation to trade and should not be construed as a recommendation, or advice, to enter into, or to refrain from entering into, any transaction.

Whilst the information herein contained is believed to be reliable, no responsibility is assumed by Hite Investments and Consulting, (Pty) Ltd., their employees, associates, external contributors, or any of the references used, for any errors, or omissions, or for losses of any nature which may arise from any opinion expressed herein.

You are cautioned that information is not necessarily complete and that opinions of individuals employed at the above may differ, or be based on contrary analysis techniques andthat opinions may change over time.

The losses in trading and investing can be substantial and you should not engage in such trading and investing unlessyou fully understand all the potential risks.

The views expressed in this report may change over time and updated reports will not necessarily be issued should this occur.

Red Line: “Roadmap” – A visual representation of proba-ble future price action. A perforated red line suggest various proba-ble outcomes with the perforated line being

Blue Line: Trend Lines that constitute important sup-port / resistance or break levels

TA – Target area
MA – Moving average
R – Resistance
RA – Resistance area
MR – Minor Resistance
MS – Minor Support
MTR – Medium Term Resistance
MTS – Medium Term Support
SA – Support Area
S – Support
T – Target
* or ** – Significance of level

The intention of this analysis is to give the reader a visual picture of the most probable price path that could develop over time. This is enhanced by adding crucial levels where the proposed view becomes dubious and needs to be re-assessed (or confirmed). The benefit of this approach is that of an easy to understand and almost instantaneous grasp of the analysts view. This kind of analysis is not intended to be exact in predicting levels, and especially timing of moves, but to give a more general probability view that is easily understandable and unambiguous. The proposed “roadmap” gets adjusted over time as new price information becomes available. All technical views have re-assessment or negation levels where the proposed preference is no longer valid or needs to be re-assessed.