Byte91

Byte91

This is the first bearish structure breakdown since the beginning of the bull run. Meanwhile majority is still waiting for 10K. I am not saying you should sell, but would be cautious about buying the dip here, a broader correction can happen now. I still believe that we have to visit at least 6-5K price levels. It is dangerous to short here too though. It can be...

Byte91 Updated 

So far BTC managed to crawl up to resistance around $6000. I didn't expect BTC to reach that high before re-test of $3000, but there it is. Despite of this unexpected move, I mentioned erlier that it is possible - yet not that likely. Does it mean that BTC is super bullish now? Well... I can see, that sentiment is very bullish right now. But from my point of view,...

Byte91 Updated 

It's about two weeks ago, when I posted my first idea about finishing LTC pump. So far it seems that the call won't happen. It did reached the $55 level, as expected and it did got dumped (together with BTC), as expected. However, the dump happend to be just a correction, rather than a trend reversal and so far it hasn't reached $35 level yet, pushing through $55...

Byte91 Updated 

Just looking on the daily, even weekly ETH chart gets me worried. Why? For two reasons. Firstly, this is actually the first ETH bear market. It has never been in bear market before, keep that in mind. The second reason is the chart above. As I mentioned before, this is common now in other cryptocurrencies as well. Now I don't know what's the deal with ETH and I...

Byte91 Updated 

Yeah I know. I just needed to catch your eye :) Well, I don't really think that. I just think that it is too soon to call the bottom yet. There is just one single thing holding our "bottom" now - 200 weekly SMA. But on top of that, the similarity of 2014-2015 bear market is undeniable. The problem is, that almost everybody thinks that. I see "hey look, this sure...

Byte91 Updated 

So far the price moves just as anticipated. No surprise here - altough it seemed like it won't reach $4100-$4300, it got there eventually and offered very nice opportunity for short. I haven't closed it yet, but I'm not going to leave it open for very long time, altough it rather depends on what the price will do. The question is, is it still valuable to open a...

Byte91

Let's take a look on LTC today. Although LTC is, like all other alts, dependent on how BTC moves, it can be seen some signs of upcoming correction on LTCUSD pair. There is a clear bearish divergence on RSI (blue lines), somewhat sketchy rising wedge towards resistance and dropping volume. But when you are comparing an altcoin towards the U.S. dollar, you should...

Byte91 Updated 

So it's been a while, but BTC has pushed through the first resistance and 50 SMA as expected, reaching now a big resistance at $4000 levels. I"m not too confident about the targets yet, but I expect these to be around $4000 - $4300 as I mentioned in my previous analyses. First thing to see is that BTC is already printing a hidden bearish divergence (blue lines),...

Byte91 Updated 

The 50 and 100 weekly SMA death cross is about to happen, approximately within a week. The question is, is it going to be the ultimate sell off? Well, let's look at when this happend the last time: As you can see, it actually bottomed back then. Does it mean that it's going to the moon tommorow? Of course not. But we may be very close to the bottom, if not...

Byte91

So far the price is following my expectations, and currently sits exactly at $3700 level, whitch is a quite strong resistance (previous support levels + 50 SMA). But I am still not quite comfortable with opening a short position here. There is a high chance that BTC will push through eventually. It is not a time to be extra bullish either (no need to close already...

Byte91 Updated 

We are moving in a quite extended falling wedge, so there are some signs that there are not enough sellers yet. A correction up may happen soon. I expect this bounce to be short lived though, as we entered a full bear market by crashing through $6000 level recently. There is also a quite high long interest, which is interesting at these levels. But it's not safe...

Byte91

A falling wedge pattern can be seen on lower timeframes. The wedge is also slowly approaching support at $3200. I expect a move up before another fall. Lower target around $3400 Upper target around $4000