Is this the BOTTOM? – Anchor Protocol Price Prediction | Terra Luna Collapse
Hey guys what’s up it’s frank here from Altcoin buzz now obviously today we are Seeing some serious blood in the market Bitcoin and all altcoins pretty much are In the deep red today but we’re going to Pick out just one anchor anc usdt which Has fallen especially hard over the past Days to do an analysis to see if we Might be finding support if this Downtrend might be at an end we’re also Going to briefly look at the fear and Greed index and what that might mean for Bitcoin and finally i’ll give you the Support and resistance levels which you Need to be watching for anchor anc usdt Now for those of you who don’t know Altquin buzz is first and foremost a Crypto investment research company and We have been providing you numerous 100x Returns since 2017. so if you want to get in on that Action join our altquin buzz access Group where we document up-to-date Research covering undervalued altcoin Gems nft minting opportunities and our Portfolio strategies so click the link Up above to take part in the action or In the pin comment section down below Also please don’t forget to like Subscribe and click the notification Bell so that you don’t miss any future Updates and finally please note that None of this is financial advice [Music]
Okay so before we get started with the Anc analysis i just want to show you This fear and greed index which you can Find on alternative.me Currently displaying a value of 12 which Indicates extreme fear so if we do an Analysis of the history of the crypto Fear and greed index we can see that Right now is pretty much the lowest it’s Ever been now we have had times in the Past where it’s been at this low number For many many days even weeks in a row Here for example is one notable point You see all this big gray area here Ending on the 17th of december now if we Go to the bitcoin chart and go on the Weekly time frame and then look at December 2018 you can see that this was A point at which we actually bottomed Out and quite similarly in that market We were seeing this very important Support the six thousand dollar level Once it broke down everyone thought that Was the end and very similarly now we Are seeing this break of this diagonal Channel everyone thinks it’s the end but As we’ve seen in the past when there was A lot of fear at this time this marked The actual bottom of the market so Although there’s a lot of fear now just Remember if you’re an investor a Long-term investor bitcoin has seen Dumps like this before this is not out Of the ordinary in fact bitcoin has seen
Much worse dumps than this we’ve only Seen 61 In the past we’ve had 80 85 dumps Multiple times and bitcoin has still Been one of the most profitable Financial instruments you could possibly Invest in over the past 10 years that Being said let’s get down to anchor so Anchor has seen a 35 dump in the past Day alone now unfortunately anchor if You are an investor anchor has a very Serious downtrend here we have been down Trending ever since it launched on the Market in march 2021 marked by the lower Lows and lower highs now Some potential for hope here is this Diagonal channel which is forming now The price couldn’t actually get to the Bottom of this channel because the this Dark thick line is the zero line so Obviously it can’t go below zero but It’s interesting to note that this Diagonal channel might find support if You’re an investor in anchor let me know At what price did you buy in and are you Still in the market let me know down in The comments below anyway coming down to The daily time frame now we can see this Incredible volume spike we’re seeing This increasing bearish volume which Technically is not a good thing it means That there’s a lot of bearish momentum However there’s something known as a
Volume spike and that is when there’s Exceptional volume in one direction and That’s all this often indicates the end Of the bearish momentum and indeed we Are seeing the past three candles are Not as large as the candles before so we Have the biggest candle the big dump on The ninth of may then a slightly smaller Candle then a smaller one and now a Smaller one so this indicates that this Bearish momentum is probably at an end It’s probably peaked over here and we Can have further confirmation from this By looking at the daily rsi we have a Daily rsi oversold of 19.39 Now of course we have seen this level And even lower than this level in the Past so this does not mean that we are Already at the very bottom of this trend But certainly It seems that the bearish momentum is Likely peaking at this current price Point now if we go down to the four hour We can start looking at some supports And resistances But before we do that i just want to Show you this elliott wave this is a Technical pattern which Describes the Price action of one leg of one swing in Price of one direction so here we have Five points one two three four five And this is the end of the elliott wave So there is some hope some possibility
That this is the end of this move down And that we may now be starting another Move up or the very least correcting From this this move down now in terms of Support there’s only really one major Support which is the 0.1391 level we had a double bottom over Here on the four hour And of course below that really there’s Nothing but the zeros but moving up from Here the next resistance would be the Previous four hour high at the 0.392 dollar level if we cross that Level then we can be quite sure that This bearish momentum has ended for the Coming couple of days or so And indeed the four hour is showing Potentially a bullish cross over here on The macd so you see that the blue line Here was just really going down the Whole time But now we are steadying out and in fact If you look closely this blue line is Actually moving up and we are Potentially headed for a bullish Crossover and also you can see the Bearish momentum is slowing down here so My best guess would be that we will not See this go below 0.1391 but instead have a move up from Here and if we do have a move up from Here the next major level to be looking Out for would be the 1.3396 Level this marked the previous daily
Closes a double bottom here in terms of Daily closes so i would suspect that This would mark resistance on the way up And then of course the 2.27 Level which is the previous daily high So what would a technical analysis video Be without a price prediction so just For you guys i’ll tell you what i think The most likely scenario is i think We’re going to see some price movement Within this area you know maybe come Down and test the 0.139 level again but more likely than Not we will actually see a break out of Here and start a move up And then potentially see another move up Because really we are so over extended In the red now yes we have a downtrend But this elliott wave seems to suggest That we are now at the end of this Downtrend all right guys that’s been it From me for today if you like this video Feel free to check out my other videos On altquin buzz i make technical Analysis videos a couple of times a week And i like to explain things for you in Ways which are simple and easy to Understand and with that being said i’ll See you in the next one [Music]
