The bullish momentum has been so strong, not even major FUD could stop the bulls. Tether FUD has hit the space and the most crypto exchange has just got hacked, yet she repeatedly bounce up.
As many believe this might be the start of a bull run, the chart shows that it is preparing to send the price plummet back down.
Many people thought we are ready for a moonshot due to 200 Weekly Moving Average that sits right at 3.000 area. However, they are neglecting the fact that we are still on phase two of the fractal. BTC is not stopping yet, she just takes her time to play inside the triangle before she continues her way down to the abyss.
A lower high has happened inside the pennant. Though, the market sentiment is pretty bullish but the chart shows otherwise. The markets have stumbled through its best time, but the worst has not came yet.
The volume keeps decreasing and thinking that we will break upwards with even lower volume is unlikely. The lower support at 0.786 needs to be tested one more...
On the larger picture, LTC is making a Cup and Handle. The bulls are moving through a channel and looking forward to complete the cup. The RSI is heavily overbought and showing a clear bearish divergence. The bears are lurking at the resistance, waiting to take the control in order to carve the handle.
TRON managed to find support at 0.5 Fibonacci and 100 MA Daily. It is moving through a falling wedge, and I believe the breakout is just a wave away. It still needs to have its little fun inside this wedge.
There are 3 possible pattern that might be on play. This is the first time in 14 months, ETH is able to manage to get on the same level as its previous high. As it gets to its previous high, it sounds like a bullish thing, but RSI is showing a clear Hidden Bearish Divergence.
If this test 0.5 Fibonacci and fail, a double top is confirmed and the red candle to the...
LTC has performed really well in the past month. This might lure the buyers and the late moonboys try to long LTC, thinking they should jump in and buying this dip. However, it looks like the push to the upside is getting weaker and the more it tries to go up the more it paints its own doom.
A clear Bearish Divergence is on play. The price keep trying to go up...
ETH is looking pretty bad right now. Despite the recent Constantinople Fork, it doesn't help ETH out of the bearishness. If the bears are to take the elevator down, it will need to retest 0.786 Fibonacci and see if that level holds.
TRX is making a very powerful bullish pattern. Wave after wave and it has completed the cup. Now, it's looking to complete the handle, which I believe will find its ultimate support right at 100 MA daily and 0.5 Fibonacci.
The breakout is going to be massive.
Bitcoin is trading sideways for 7 days straight, preparing for a big move.We are trading between 0.382 and 0.5 Fibonacci. We see that it also squeezed between 100 MA and 50 MA.
It's slightly tilt and trading upwards which makes this look like a classic Bear Flag.We might see a fake out to 0.236, but only to trap the bulls before continue its move downwards towards 0.786.
We failed to beat the downtrend of resistance through 2018-2019. This downtrend of resistance is marked to be the toughest resistance to beat. After BTC free falls from $ 6.000 level, we seem to be trading sideways in 3.000 area. It kept falling to make higher high, as we are still in the bear market.
However, this sideways range is telling us a story, that a...