Tonight, I wanted to do something a little different and look at crypto at a macro level, using the BitcoinUSD pair as my basis, since it is widely considered the "reserve currency" of cryptocurrency. I'm using Coinbase exchange, since it is arguably the most available to everyday people, so I can look at the broad sentiment of the market, not just traders, bots...
Appears to be a pretty solid bull flag on BTCUSD. However, the formation does not confirm which way it goes.
MACD is pointing towards a Bullish reversal, but its still bearish
SRSI is indicates BTCUSD is oversold, which is bearish
It is being supported by the moving averages, but I would short if it goes push down the 200 day
not present on the chart since because...
ETH is beginning to reverse. If the current trend continues, there could be a mark up to the .618 or .5 zones of the fib retrace.
MACD is bullish
Bollinger Bands are squeezing indicating price action is imminent
RSI is neutral
Good luck traders,
not financial advice.
ZRX continues to make consistent gains against ethereum. It has a stable support with the moving averages, and is approaching the resistance. If it breaks the resistance, it will go high. If not, it will retest the pennant, and shoot upwards or downwards. Only time will tell.
Bitcoin recently ran up, and is now testing the 100 Moving average. If it passes the 100 day moving average, then It is going to run up to 10k, as there is no other major point of resistance. However if it fails, it will retest the support at around 6k, before being pushed up out of the channel, and towards 10k. I believe it will fail since the bollinger bands...
Ethereum broke $600 and exited the bear channel it has been in since January, aswell the MACD is now positive on the daily. This is considered the official end of the bear market, and a return to a bull market as investors regain confidence.
Using a trend based fib, resistance will be at the $760, $880, $1000, $1160, and $1400 levels. At these areas, be wary of a...
from the logarithmic chart there is a clear channel of where ether was headed, and then it exploded, and was unsustainable.
the resistance indicated at the $160 mark from may and june show that its possibly the area where ether will stabilize.
bitcoin's hard fork will keep the price a bit higher due to people wanting to save their money, but in the long run, the...