I drew some lines a while ago and they seem to be accurate...
This looks good. Trust me, I drew some lines.
We're going to move sideways until a final test of this bearish channel we've been in for a month, after a failure to break last week.
Alt movement tells me heavy hands have been in since we've been holding support (relatively firmly) over past few days and are optimistic of breakout. I believe sellers will no be buyers at the next breakout attempt. We should see a btc run gaining against alts, before btc slows down to refuel and let alts catch back up.
Eth will gradually head back to .1 on the eth/btc, and will slow down as it approaches it again. It should hang around .095 - .105 for a period of time while the market starts gathering traction over next weeks/months.
ETC will continue to gather traction on both eth and btc. Should approach $100 and may even end up moving to .1 against eth (etc/eth).
We're going to move sideways until a final test of this bearish channel we've been in for a month, after a failure to break last week.
Alt movement tells me heavy hands have been in since we've been holding support (relatively firmly) over past few days and are optimistic of breakout. I believe sellers will no be buyers at the next breakout attempt. We should see a btc run gaining against alts, before btc slows down to refuel and let alts catch back up.
Eth will gradually head back to .1 on the eth/btc, and will slow down as it approaches it again. It should hang around .095 - .105 for a period of time while the market starts gathering traction over next weeks/months.
ETC will continue to gather traction on both eth and btc. Should approach $100 and may even end up moving to .1 against eth (etc/eth).
Comment:
btc fighting to finish a candle on the other side resistance at this exact moment. Once we get confirmation on longer time charts this thing is going to take off. The old red wedge top is now its support in case of a failure here, I think it has one more in it before it gives up to shame and heads down to the pits.
If we break here - we'll see quick movement til 11,600 - once we reach 11,600, I think there will be a massive sell down simply to establish the old pink bear downtrend line as the new neutral/bullish support rather than resistance.
If we break here - we'll see quick movement til 11,600 - once we reach 11,600, I think there will be a massive sell down simply to establish the old pink bear downtrend line as the new neutral/bullish support rather than resistance.
Comment:
^^With the strong green support line picking up to take over as the new hopefully long term heavy resistance zone.
I have literally been guessing at these charts as I teach myself. Dont take this as trading advice.