So after Coinbase's Bcash fiasco yesterday here are a few things I'll be watching today.
1. Coinbase is allowing trades on Bcash again at 12(the vertical line) in post only mode. Since they halted trading last night it's entirely possible Bcash bag holders will take the opportunity to dump. It's also possible people who couldn't get in last night will pump Bcash. As Bcash and Bitcoin are strongly inversely related I won't be in any positions until after 12 today.
2. The horizontal support/resistance lines I drew yesterday seem to be significant, so I'll be watching for a bounce in either direction off those.
3. A break of the diagonal resistance line(bright red) that has held down the price since the top would be very bullish.
4. The 4 hour Tenkan and Kijun are looking like they might cross bearish for the first time since November 11th. This is pretty bearish but it's worth remembering they crossed bullish 4 days later and the price went from ~7000 to almost 20000 since then.
1. Coinbase is allowing trades on Bcash again at 12(the vertical line) in post only mode. Since they halted trading last night it's entirely possible Bcash bag holders will take the opportunity to dump. It's also possible people who couldn't get in last night will pump Bcash. As Bcash and Bitcoin are strongly inversely related I won't be in any positions until after 12 today.
2. The horizontal support/resistance lines I drew yesterday seem to be significant, so I'll be watching for a bounce in either direction off those.
3. A break of the diagonal resistance line(bright red) that has held down the price since the top would be very bullish.
4. The 4 hour Tenkan and Kijun are looking like they might cross bearish for the first time since November 11th. This is pretty bearish but it's worth remembering they crossed bullish 4 days later and the price went from ~7000 to almost 20000 since then.