ETHUSD 1H/4H chart is showing rounded top, if we do not break above 230 within the next week, we will likely to see a reversal breaking below the neckline of fib. This idea will be invalidated if we break higher above 230 and consolidate above the next fib area.
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This is a game of survival, stay alive and trade another...
I have been doing a lot of shitcoin analysis. It is time I show case HTF BTCUSD.
1. We are stuck in a range 100040-100185
2. Weekly is closing, bull need to push above 100185+ for me to remain bullish, if we turn from here it would be lackluster. A huge loss of momentum.
3. BTC is at the end of a run way, decisions needs to be made, which mean...
My god, this thing is wild! I got out on blow off top candle and i would like to see consolidation above .618 fib and allow RSI, MA to catch up in order for this thing to continue higher.
*sorry for bad grammar typing with one hand.
I had to drill down to Hourly chart to see what is going on with Zcash. While the majority of the coins are going up, zcash is on the opposite trend. Zooming in, we are in a bullish setup where 1H is showing descending wedge, which is a bullish consolidation pattern, once this break to the upside, we can see upward of $87.
This setup is pretty bullish, ascending triangle and tight price compression is usually a sign of volatility ahead. I have no price target for this thing, but I do expect a green lightsaber in the coming days.
My idea is invalid if we break below the triangle. Stop loss on this is very tight, place your bet at your own risk.
It looks like we had the bounce from the first target of 8200, and retested the local resistance of 8500. So far it looks like it is rejected, RSI turning to the downside. Good probability of market retesting 8200. Next level 7600.
Btc daily has been rejected by 200 MA trying to hold onto 8500 level. I am directional biased toward lower levels once’s prior swing low is taken, BTC will shoot toward lower channel. What will cancel this analysis is that we have a clean break above 9200 and break prior high of 9900. We may have a break above 9200 just to fill the sellers liquidity pool. Either...
The market has been moving side way for a while, the consensus has been two ways, we've hit the bottom vs there is one more leg down. From BTC chart, I have seen potential of a rising wedge pushing us up to 5K in the coming month(s). ETH in this run up may not out pace BTC. Let me know what you think.