Disregarding the fundamentals and don't get me wrong, I am bullish crypto long term, but how can anyone else be bullish this time ? Everyone is calling a bottom, yet no one is paying attention to the weekly charts.
What about the weekly MACD crossing on BTC ? LTC and ETH haven't crossed yet but the correlation in price is still very strong with BTC and this is not gonna change that fast. This recent correction was the first time bitcoin RSI fell under 50 since October 2015! and as far as technicals are concerned there is nothing that is stopping it from correcting to at least near 3000$ levels.
Guys keep your charting simple instead of drowning your self in dosens of indicators and lines, technicals are as important as fundamentals but are way overcomplicated.
This analysis is for educational purposes and not a trading advice. Good luck out there.
What about the weekly MACD crossing on BTC ? LTC and ETH haven't crossed yet but the correlation in price is still very strong with BTC and this is not gonna change that fast. This recent correction was the first time bitcoin RSI fell under 50 since October 2015! and as far as technicals are concerned there is nothing that is stopping it from correcting to at least near 3000$ levels.
Guys keep your charting simple instead of drowning your self in dosens of indicators and lines, technicals are as important as fundamentals but are way overcomplicated.
This analysis is for educational purposes and not a trading advice. Good luck out there.
