- This is an outlook on the monthly candles of Bitcoin and the most popular altcoins. Candles are very powerful, especially on the monthly chart.
- I hope this analysis will help you with your trading decisions!
- My verdict is that the candles look bearish . There is a higher chance to go down and continue in the downtrend.
- If you want me to post monthly candlestick analysis every month, hit “like/boost”, so I know I should continue!
BItcoin ( BTC ) – Bearish red engulfing candle. The monthly candle closed at the record low. The body is greater than the wick.
Ethereum (ETH) – Bearish red engulfing candle. The monthly candle closed below the previous 2 candles. Aslo we made a new low. Looks bad.
XRP (XRP) – Bearish red hanging-man candle. The candle on XRP is a little bit bullish , but not in this structure. It looks bad to me.
Binance (BNB) – Bearish red spinning top engulfing candle. The monthly candle is a bearish “spinning top.” Also, this candle is an engulfing candle. Looks bad.
DOGE (DOGE) – Bearish red spinning top candle. This candle is red, and there was no continuationof the previous candle. Not the best.
Cardano (ADA) – Very bearish red candle. The worst candle ever, this will go down. The previous reversal candle ( hammer ) was ignored.
Polygon (MATIC) – Green doji / shooting star reversal candle with a long wick. The candle has a huge rejection wick. Not the best for the bulls.
Solana (SOL) – Huge bearish red engulfing candle. Solana is freefalling. There are no signs of a trend reversal.