Greener Candles Crypto Market Analysis - 29/05/25
Greetings, traders, maxis & degens!
Choppy market movement continues as we are already halfway through the week. Before going into analyses, I'd like to share a new trading term I just learned: TACO.
Apparently, it's the popular Wall Street view of buying tariff-caused dips, cos 'Trump Will Chicken Out'.
Apparently, it's the popular Wall Street view of buying tariff-caused dips, cos 'Trump Will Chicken Out'... so there you have it! Now, let's have a closer look at Bitcoin and friends.
BTC
Bitcoin pulled back a bit, but didn't create a lower low, so the bullish structure is still in play. On this 1-hour chart, we can see BTC slowly creeping up again and personally, I wouldn't mind it ranging between $106.5k - $109 (or $110) levels for a while. This could give so boost to altcoin prices.
To support the idea, the Bitcoin Dominance chart is showing a long-awaited decline.
ETH
The second biggest cryptocurrency, ETH, is looking very bullish on the 4-hour chart, creating higher highs and higher lows since the last Friday drop in price.
On the ETHBTC chart, we also see that ETH has been outperforming Bitcoin for a couple of days now, but now seems to have hit the resistance level.
Expecting a pullback here and closely monitoring if ETHBTC can bounce back and cross the hurdle of 0.026 resistance.
All in all I'm somewhat bullish on ETH in the short term, although when zooming out into the daily chart, we can see there's a massive inefficiency candle waiting to be revisited.
However, for these to play out, it could take a lot of time, and it's not certain to happen, but something to keep in mind nevertheless.
TON (short)
Speaking of inefficiency candles, last night, just before going to sleep, I noticed the $TON price had gone up quite a bit in a very short time. I then placed a short market order with 10x leverage, SL at 3.49 and TP at 3.17, hoping the price would revisit the halfway point of the largest 1-hour inefficiency candles.
And it did. Almost.
As you can see in the picture below, the price almost hit my TP level, but not just not enough for the order to be filled.
The TON price then bounced back up and down again to a point where I closed the position. Lesson learned here: there are a lot of orders waiting in spots like these, so it's better to try to frontrun the play a bit, and not put orders in the most obvious places, such as even-numbered levels or, in this case, exactly halfway down the candle.
Plans For The Rest of The Week
I took a bit of risk off for this week and exited a couple of spot positions on Solana: $JUP & $SPX. I was nicely in profit with these two and plan to buy back if and when the market conditions turn more favourable for alts.
$SUI, $SOL, $S, and $HYPE are my main focus tokens. All of these are currently in some defi plays, earning interest while I plan on buying any possible dips.
Even though the $HYPE price is cooling down a bit, the airdrop meta is really picking up, so not expecting any major dips. Meanwhile, $SUI has recovered pretty well from the recent Cetus hack FUD and a lot of defi & airdrop opportunities on there as well.
Cool, that's it for today! Thank you for reading. don't forget to like, comment, share and follow. 🙂🙏
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