With BTC Taking another spike up over 7500, We are now looking at the scenario of a pullback off the wedge formed from the last year of volitility.
- We move up to 7800-8000 to touch the resistance trend line.
- We then retrace back down to bounce off the 50 EMA at roughly 7000, there is also heavy support here on the daily.
- We then follow the 50...
With the bullrun starting to run out of steam, a pullback is in order. the 38.2% Retracement comes in to line with the 4 hour 50 EMA which should provide support for a bounce.
Once this happens we should get at least to 7800, at that point we are testing breaking out of the massive bull wedge as well as trying to surpass the Daily 200 EMA.
Second scenario, if we...
With BTC breaking it's year long trendline, a new wedge has formed with one - two more touches possibly incoming.
Possible Fiat purchase scenario:
Stagger buys @ $6600, $6300 & $6150, Possible sell off around $8k on 06/07 from previous trend with a retest and buy back around $6k.
Bit of an update with BTC and why I am so convinced it's going down.
1. The current down trend is not over, and we seem to by bouncing between those lines which are support/resistance line
2. The moving average for the past 50 days has gone under the moving average for the last 200 days... we are seeing a lot of red at the moment and this will most likely...
XRP has broken it's downtrend and it now testing the 23.6 Fibonacci resistance level. Whilst this isn't a highly significant fib, it still presents some resistance due to the volatile breakout. There could be come good gains if this up trend continues.
One thing to be weary about is the rumours surrounding Coinbase of putting XRP on as a pair. Keep your eyes on this one.
Based on my TA from yesterday, Ven is still following the trend, breaking fake outs happening with sell offs following. There is a nice support at 43/44k sats, but i feel like it will still drop below this to the next support line.
This is based off BTC going on a long run to kill any hopes of VEN returning yet.
See you guys at the bottom, I will be buying up...
BTC has had some good runs lately, and the new formations show that this wont be slowing down anytime soon.
a rising channel and and bullish wedge should hopefully see us break upwards soon to at least $11,000 USD
Resistance on VEN is now at 47k resistance chanel , support is hovering around the 34-37k... if it blows below this figure there will be some VERY cheap scoop ups. VEN/VET itself is still a VERY strong project and needed this realistic price correction to shake some weak hands and bring it back down to earth. It has seen a moon shot for over 2 months. I have no...