ETH continues to respect the trading channels perfectly and looks primed for a move towards $180 very soon, indicators have reset and facilitate a sizable move.
SETTING UP FOR A VERY BULLISH MOVE IF BTC CONTINUES UPWARDS. $5.40 MAJOR RESISTANCE, $6 BULL RUN CONTINUES.
A fantastic move today so far for Cyrpto but don't get caught up in the FOMO, a clear signal for us is a move above the 200ms on the daily chart for adding to our long position. Stay nimble.
We have had a monthly close and did not have the turbulence we expected. Considering last weeks news flow we are even more confident in the near term future for BTC, if that news had of broke in December a 25% drop would not have been out of the question. On our 12 hour chart the RSI has reset and the MACD is crossing positively, lets hope we get a bullish rather...
We would love to be more bullish but we just don't think that the correction is over. A retest of the lower trend line would actually be very bullish if it holds and confirms a much higher move is likely. It is our opinion that we are in wave B and a move higher than $95 would possibly be a sign we have moved into wave 3. Such has been the drop in LTC since 2017...
ETHUSD has just been moving along at snails pace towards a retest of the $180 - $190 area of resistance. Our chart may be very optimistic but it just a illustration of the trend lines that exist and how a move could fit within those parameters. We remain bullish until trend is broken and dependent on BTC for any directional change.
When a channel is respected in such fashion it is difficult to be negative. On many occasions now it has acted as incredible support, until that changes the pattern will continue, we have removed all other drawings from the chart to keep it as clear as possible, we like many often complicate things for ourselves and others.
EOS has behaved quite well within the selling pressure over the last week, respecting trendlines and fibs, losses lower than others and selling volume has not been spectacular. $4.50 remains a very important support area, falling below will bring the 200MA into play at $4.30 and panic selling could ensue. Alerts set for any major move which is quite possible on...
Despite our bullish persuasion it is vital we look at the chart with a open mind. From a technical perspective LTC looks very weak after losing support on the RSI and the OBV is approaching vital support levels, MA's are crossing negatively and the bulls struggle to command any control in the price action. The fate of LTC seems to be in the hands of positive moves in BTC.
Yesterdays negative news was not exactly what BCH needed after a few days of selling pressure. They bulls are defending a very important price zone as a area of thin price action exists below $250, it will be a very important close tonight and weekly close on Sunday, keep alert and ready for a move up or down.
Nothing positive to point out about this, it is purely a short, sentiment, shorts, indicators and price action will drive this to the lows and very possible below it in the coming days.
NEO has had a strong bounce off price support and the .618 fib level. We have entered a long in the belief that wave 4 is complete and we can now move higher in search of wave 5.
XLM as of now has gone of the radar to us, there are much better opportunities in Crypto than this. It has struggled to stage any kind of a rally and even the bears seem to have moved on to a more active sector of crypto.
Today's move in BTC is nothing concerning yet , the channel is acting as perfect support and resistance. Set your alerts above and below for a more noteworthy move, $6000 is the target to the upside where major price action will act as resistance and below we have the 200ma acting as strong support.
Despite the nice move in BTC, LTC has lagged behind and they indicators are less than positive. We still think that a deeper retrace is necessary to complete the 4th wave but if not, we are more than happy to move in a bullish direction to the $110-$120 region. Just a matter of sit and wait.
**********A much larger move was expected in unison with BTC break, signal look positive for a positive break despite the middle BB holding down the price. A Break above $6 would be very positive with much reduced volume pressure above. ALERTS ARE SET READY FOR A MOVE EITHER WAY, BUT WE HAVE A BIAS WITH THE BULLS.
That gap will be filled and very soon in our belief, they Bollinger bands are tightening to preempt a large move in the price.Staying long for 5th wave completion.
IT IS COMING TO A HEAD SOON, THEY SIDEWAYS ACTION HAS TO BREAK UP OR DOWN. WE REMAIN SLIGHTLY BULLISH BUT THE VOLUME DECLINE & MACD IS SOMEWHAT WORRYING. THE RSI HOWEVER REMAINS IN STRONG UPWARD CHANNEL. ALERTS SET FOR BREAK OF TRENDLINES (IN BLUE) OR RESISTANCE (IN RED).