Welcome to our latest crypto market outlook for September 16th!
Altcoins have been rejecting key weekly support levels, making this a great time to catch the next impulse move before the markup phase begins. On my watchlist: DOGE, KAITO, BIO, LRC, and WLD.
Today, we will cover the following topics:
– BTC Analysis
– 5 Altcoins Analysis
– Quotes / Advices
– Closing Remarks
BTC analysis
According to our latest BTC analysis, price rejected the lower bound of its rising blue channel with precision and has been moving higher.
As long as the $107,500 structure holds, the next projection is toward the channel’s upper bound at $125,000.
As long as BTC continues to trade within the rising blue channel, the overall bias remains bullish, especially after activating the inverse head and shoulders pattern highlighted in orange last week.
5 Altcoins Analysis
From a macro perspective, DOGE has been overall bullish, following the cycle highlighted in purple.
Each bearish correction, therefore, presents an opportunity to capitalize on the next bullish leg.
In the medium term, DOGE has been in a correction phase, trading within the red falling wedge.
As it approaches the orange support zone, we’ll be looking for long opportunities, particularly if price breaks above the wedge.
KAITO was one of the biggest movers last week, surging by over 50%. It is now retesting the lower bound of its range around the $1 mark and demand zone.
For bulls to take control and trigger the next big impulse toward the $1.5 mark as an initial target, KAITO needs to break above the upper red trendline.
Meanwhile, it may still retest the $1 round number before moving higher.
As per our latest BIO update, price has been consolidating within a tight range between $0.12 and $0.19.
With the current retest of the $0.12 support, we’ll be looking for short-term long opportunities toward the range’s upper bound.
For the bulls to regain long-term control, however, a break above $0.19 is required, opening the door for a potential move toward the $0.30 round number.
LRC has been one of the cleanest charts this week, trading within a classic rising channel marked in orange.
With price now retesting both the channel’s lower bound and a strong blue demand zone, we’ll be looking for trend-following longs on lower timeframes, targeting the channel’s upper bound around $0.13.
As per our latest WLD update, the coin has been in a bearish correction phase after surging more than 130%.
This week, it is retesting a strong support zone between $1.40 and $1.50, so we’ll be looking for long opportunities as long as this support holds.
For the bulls to regain control and trigger the next big impulse toward $2.1 as an initial target, WLD needs to break above the upper red trendline.
Quotes / Advices
I get real, real concerned when I see trading strategies with too many rules (you should too).
~ Larry Connors
Closing Remarks
In summary, BTC remains bullish within its rising channel, with $125,000 as the next projection if $107,500 holds.
Among altcoins, DOGE continues to follow its bullish macro cycle, KAITO is consolidating near $1 with potential toward $1.5, BIO is ranging between $0.12–$0.19 and could aim for $0.30 if it breaks higher, LRC is respecting its rising channel with targets near $0.13, and WLD is holding key support at $1.40–$1.50 while eyeing a possible breakout toward $2.1.
