On the daily chart BTCUSD made a nice bullish candle yesterday, showing initial rejection to the downside.
The weekly could also close bullish if bitcoin manages to end the week at this price or higher.
Currently the .236 retracement fib is acting as resistance.
Adam and Eve bottom on BTCUSD chart
If we bottom here, we have another daily higher low which signals exhaustion from the bears.
A higher high on the larger timeframes can confirm this idea. We should see a reversal in trend on the lower timeframes first before the larger timeframes follow.
Generally we want to see price trending above the 200 MA again with...
South Korea country will be easing the tight hold on crypto trading currently in the country. This could be the case in more countries soon which should help bring more investors in the space.
We finally have some bullish action today with a bullish engolfing on the daily chart. Of course we still need to wait for the close to consider this candle but it looks...
As always, Bitcoin leads the crypto market, and with bitcoin dropping as it is now, a lot of alts feel the pressure as people sell for btc to sell the btc for fiat.
The same goes for GRSBTC pair as it is mainly traded in btc.
Reviewing the last price action, we did visit a lower structure level (previous resistance, now support) at 0.000125 which provided local...
The last major swing high made it higher since my last chart so I had to redraw the fibs.
I would like to see it retrace a bit to around the 0.50 and 0.618 fib levels.
This is my preferred area to scale into an initial long position as I cannot chase price.
Depending on the price action I may take full/half profit just before the 0.382 fib level and trail the...
When we zoom into the action we can see several healthy retracements that retest the last resistance now providing support.
Most of the time when price moves up fast, it needs to cool down a bit before it can rise further. We call this cooldown a retracement of the swing high and this is healthy in any trend, down or up.
Comparing the swing highs here, you can...
REPBTC broke out of the beartrend line on Poloniex as well as Bittrex.
I see relative big buys came in at the break here and price just doubled in a day.
It is also trending above the 200 Daily Moving Average and the 200 Daily MA is also starting to trend upwards.
This pair is available on many exchanges and got listed on Binance recently.
The trade volumes...
To get a long position in ZECBTC I would like to see the price retrace a bit to test support before rising further.
To see at which price levels a retracement might reach I like to use a fibonacci range over the entire move from the low below the 200 MA to the last high.
I will keep drawing this fib up to the high with this runup untill it starts to retrace.
ZECBTC has moved north of the 200 Daily Moving Average after trending below for a long time.
The 2 major lows show a pattern known as Adam and Eve.
(adam = sharp low with sharp retrace, Eve = rounded bottom)
The last swing high shows nice volumes coming in again for this pair.
I expect ZECBTC to retest the resistance marked in blue. I can imagine ZECBTC...
GRSBTC is trending above the 200 Daily Moving Average and just made a new swing high with good volume.
I have placed fibs over the swing high from the last low to show support and resistance levels.
Should price retrace further, I would expect support to come in around the 0.50 to 0.618 fib levels. This is my preferred buy area for a good bounce in price.
GRSBTC just made a nice swing high on the HRLY chart with good volumes.
Its currently trending above the Daily 200 Moving average.
In most cases these swing highs create volatility in the range of the wave itself where this trade idea is based on.
The fib levels show the support and resistance levels and I expect support to come in around the 0.50 - 0.618...