Crypto_Terminal_Daniel

Crypto_Terminal_Daniel

As we can see, Monero has been consolidating against BTC over the past several days. Momentum has nearly dropped to zero, and volatility is broken down to new lows, as measured by the ATR. When volatility consolidates to such extremes, this implies an explosive move is on the horizon. We have what appears to be a bull flag pattern on 4 hour charts, though the...

Crypto_Terminal_Daniel

XRP made some tremendous gains against BTC, but it looks like its day in the sun is drawing near. It simply cannot muster the strength to achieve new highs again. We have a massive head and shoulders pattern forming on daily charts, contributing to a very ominous outlook for XRPBTC. Momentum has almost completely dried up. In the absence of momentum, we turn...

Crypto_Terminal_Daniel

Like all other cryptocurrencies, Monero has declined precipitously. It has been gradually trending downward making lower highs. Fortunately the markets seem to think that $80 is a minimum lower price for this asset. Every time the price action drifts close to this value, it has been bought back swiftly. It is doubtful that, XMR can break this level unless...

Crypto_Terminal_Daniel

Crypto enthusiasts should brace for another blow to their accounts. Bitcoin has been consolidating for months, but appears to be reaching a point of capitulation soon. As we've stated before, when volatility rescinds for an appreciable amount of time, a breakout or breakdown can be expected. Anyone looking at a day chart can see that the volatility in recent...

Crypto_Terminal_Daniel

We discussed yesterday how BTC has been forming a gigantic flag pattern over the past months and we are getting ever so close to its apex. Unfortunately, the technicals do not favor us. The upper bound of this wedge pattern has been forming arguably since March. Since then we have made consistently lower highs, which is foreboding. Although we have some meager...

Crypto_Terminal_Daniel

Litecoin appears to be in the midst of a sideways Elliott Wave. This ranging period has lasted since mid August. There has been very little volume and vanishing volatility in LTC for the past several months. Ranging periods almost always portend a breakout in either direction, however with the current sentiment toward cryptos, such an event is highly dubious in...

Crypto_Terminal_Daniel

Litecoin, like all major altcoins, has depreciated substantially against BTC. This decline has been precipitous and nearly monotonic since May, with even the slightest corrective rally sold off immediately. However, we may find solace in the fact this pair appears to have found footing around 9070, which appears to be a very significant level of support. In the...

Crypto_Terminal_Daniel

TRX has been gradually downtrending when paired with BTC since June. It held a nearly perfect descending channel for months, before attempting a breakout. It has stuttered for a bit, but appears to have bottomed out at 288, which we've used as the lower anchor for our Fibonacci levels. Despite strong downside momentum, TRX simply hasn't been able to breach this...

Crypto_Terminal_Daniel

Bitcoin has been gradually sucking the life out of the altcoin market and Ethereum is no exception. It has smashed through significant levels of support with a vengeance, and crossed through multiple vacuum zones to the downside with ease. Cryptophiles had some high hopes that $400 would hold as a max lower bound, similar to how BTC is holding at the $6000...

Crypto_Terminal_Daniel

Bitcoin has been consolidating since the cryptopocalypse in January, but precipitously so since early September. Consolidation of volatility always portends a breakout or breakdown. Which is it going to be? Bitcoin has respected $5820 as a hard lower bound. It tested this and emphatically rejected it back in June. This level corresponds to a Fibonacci...