Context: The bulls appear to have returned however we have yet to see a confirmation as we are still waiting on a HH (higher higer) to form on the daily.
TA: With the most recent 4-hour high failing to reach $7798 it appears as though an equilibrium pattern is forming. Based on previous trend support we expect BTC to retrace to the $7500 level before continuing...
Bitcoin price action over the next week will determine price action for the next month. We have several paths forward:
- Bitcoin equilibrium/pennant pattern that started after the collapse of Bitcoin at the start of 2018
- Price testing the weekly 50 EMA
- RSI becoming oversold on the daily with today's dip
Historically, oversold conditions on the...
We've been watching this pair for a while and this ALT has been generating some good demand during Asian time zone. Our team view is that this breaks out of pennant to the upside within the next fortnight, shorts seem exhausted... This has displayed resilience during the recent market weakness...
Going back to March 2017 this trendline is holding..maybe not for much longer though... a lot has happened since the last time we touched this support and we could argue that there is significant fatigue over these last 3 months. heart says 600 here we come..my head whispers 300. Talk about hedging your bets!