I am bullish longterm, short term i think we pullback. I do not overly rely on indicators, but I feel if RSI reaches 86-87 as can be seen on past peaks on daily, there have been pullbacks. This conforms with Price action too. So this weekend price tops 11700-12200 before pulling back.
Raven $RVN getting setup in a descending wedge. Historically these have been explosive for this coin. The last large growth also happened in the midst of the bear season of 2019.
At this moment bitcoin just broke below 10k after a parabolic rise. Hopefully we get to lose some of that steam, and move sideways for alts like Raven to get the oxygen they need.
Looks like they did a bad / mismanaged fundraising, There was a frenzy of coins resold at 2-3x during bear market by VCs. Seems VCs dumping unlocked coins still.
I am watching carefully. Will look for cheaper prices and buy the dip =)
Eth has been respecting that 21 EMA nicely with a good few bounces. It also looks to be forming an ascending triangle which could indicate a further upward move
It's interesting as the chart pattern plays out. Yesterday it seemed bearish, but the bounce on the ema indicates the bulls are not giving up.
I have seen a few people calling Adam and Eve formation on BTC. I set some thoughts based on the great chart pattern guru Thomas Bulkowski.
His advice on trading these patterns is to: "Wait for confirmation -- price to close above the peak between the valleys. If you don't wait, there's a 64% chance that price will continue lower without confirming the double bottom."
Couple of events that may have an effect on price. Certainly the curtailing of monthly supply will help with price stabilisation and bullishness. You can spot the dumps that happened around the 4th of each month. June 2019 is the end of those supply drops.
The Mainframe Platform Release will be announced on the 15th February 2019. Might not effect price, but the...