The value is moving inside the ascending channel and forming a 1-5 wave which corresponds Fibo levels. Moreover, this 1-5 wave has its end exactly at the resistance of the ascending channel. From current level we expect to see another growth, which is definitely very good for altcoins. Volumes are awesome!
It seems that this coin wants some correction. It is very difficult for me to write such things about the $LINK, as it was difficult yesterday with #XTZ, but I write here what I see on the chart. The price is finishing the wave 2-3 and soon will start a new - correctional wave. If the price only touch the 49000 resistance, we should expect a downward movements...
During the whole 2019 year we've seen two crosses . The first one was bullish (golden) and appeared at the 23th of April, when $BTC cost $5400. Then the price reached $13800 point in 64 days . The second cross was bearish (death). The one appeared at the 26th of October when $BTC cost $10500. Then the price dumped to $6600 point in 53 days . What...
Key level is $10025. If we breakout above, bulls would take control. If we breakdown below, bears would take control. Currently the price stays below the level, so priority is downward, but bulls are still trying to drag the price above. However, this is the situation when it is better not to SHORT, but wait for a better LONG entry. Here are two ways of...
Okey, #EOS did a great rally, but now it needs to chill out. The price is located below the major resistance and have almost no supports below. Moreover, there are almost no reversal signs which can help the price bounce from the current points. When any bullish patterns appear on the chart - we will give another update.
Renko charts are showing the main direction of the price movement by filtering out all noises which we see on the regular price chart. Moreover, every brick has the same range, thanks to this we can easily find horizontal levels and patterns which forms by horizontal levels. Today on the Renko chart we can see a fixation of the price above the important...
The phase of iv-v comes to the end and now we should see a local correction III-IV . The main thing which confirms this is the local bearish divergence at the iv point. It is hard to tell where the next correctional wave will have its end, but at the moment I see the level $10100 - $10200 as a strong support. Now , to confirm the local reversal downward,...
The price has formed a double top, but we can consider the second top a product of correctional movements, so this resistance is not that strong. By the way, the price can fall a little bit lower to 570 - 580 sats in order to test the ascending support. From there it should pump, otherwise, if this level is broken, we should expect a further decline. You know...
After the growth to $10000, $BTC was extremely overbought and we saw a consequential dump to the key level we mentioned in the previous updates. Moreover, this dump helped CME to fill the GAP on Bitcoin Futures. It seems like the price can leave a iv point of correctional waves at this point. If the asset continues bidding above the mentioned level of ±$9800, we...
There is one fact which would be foolish to deny: the higher market goes, the harder bears try to drag it back lower. The price is completely overbought. It would be logical to go for a correction now, but $ETH stays at the absorption level and if the price takes hold above this $226 level, we would expect it to reach $236 as well and only then goes for a...
To be honest, not the easiest update, difficult situation on market. Volumes are concentrated at $9850 level. The closest support is located at $9680, the strongest local support is $9450 - $9550, lower only $9200. Market is overheat and overbought , moreover we are located at the i-ii wave which is a correctional phase. If the price breaks through the...
Ethereum is moving inside the local ascending channel , which is located inside the big ascending channel. The first goal here is to reach the upper edge of the local channel ($186) and then look for an upper edge of the big channel. To reach the first target we need to breakout thorough the $177 level , test $179.5 and then flip one into support, which will...
Bears are now stronger than bulls , there are a number of reasons confirming my statement. Firstly, the support which was previously located at $8630, was shifted lower to $8590. Secondly, the resistance of $8730 is strong, bears actively sell at this level. Moreover, this level is an upper border of the horizontal channel. Down border is located at $8590. We...
The majority of analysts think that the price has broken through the resistance of the channel/wedge and now testing this level. Nothing threatens $BTC. However if we draw the resistance of this channel by highest points, we can mention that the price was at resistance level not long ago and now located inside the channel, again. It jeopardizes growth ....
When we compare #BITCOIN and #GOLD charts, we always talk about their similarity - when the one grow, the second do the same and vice versa. Such a relation was formed by the fundamental value and identity of these assets. For example , as you probably have already heard, there were some terrible news about Iran general killed by US strike. A lot of people...
The price is pumping and absorbing the downward movement. If $BTC takes hold above the red levels, above the (B)-(C) wave, there will be a big chance to absorb the whole BC wave (check the chart). What does it mean? We are we close to the door to the up-trend, where downward movements will mean only correction, while the main price direction is upward. Once...
#BITCOIN has some habits. One of them is to dump at the beginning of January. He does it on a regular basis since 2015 year, let's take a look. 1. 2015 (14 January) - Dump from 320$ to 150$, which is -50% 2. 2016 (16 January) - Dump from $460$ to $360$, which is -20% 3. 2017 (11 January) - Dump from $1120 to $770, which is -35% 4. 2018 (16 January)...
When you take a look at weekly Bitcoin chart, it's easy to notice that from the moment of the formation, MA200 never let the price break it down. Both, EMA200 and MA200 have always been solid supports. Here is the question : how bad things should be for BTC that the price breaks them down? At the moment the moving averages are showing almost a horizontal...