Price hitting lower low, while RSI hitting higher low.
Notice it's on daily time frame. I want to see oversold signal on the weekly, which is getting closer.
So bulls can pay attention to DXY recently.
BTC has been in uptrend for over 2 month.
It's retested the long term resistance (around 10K).
Now it looks like the resistance holds.
With moving averages (12/26EMA) bending downward, bull needs to take extra cautious here.
Last week we had ancient miner moved 50 BTC which caused market to go down.
To me, this price action indicates sentiment has turned from...
Hash ribbon show mining difficulty changes, and BTC just came out of 3'rd diff drop in last 2 years.
Notice diff drop ending doesn't mean bull run immediately, but historically its not far from one.
Also notice this time, we have BCH/BSV halving on April (one month ahead of BTC), which means miners are incentive to switch over BTC (more rewards).
We have to...
Last week BTC touched 7,460, which are:
1. Weekly EMA12 (red line.)
2. Year-long resistance (horizontal black line.)
There is high chance that BTC had formed weekly lower high (compared to prev. high: 2020/2/13 @ 10,500), and are heading to higher low (compared to prev. low: 2020/3/13 @ 3,780).
The sign I am looking for is daily downtrend:
1. BTC formed ascending...
After major crash on 3/12-13, BTC has nice +80% bounce.
A possible bounce pattern is double or triple top.
A nice example is 2018/2/19 - 2018/3/5:
Now 6,900 is working as resistance with 2 rejections (3/20 and 3/25).
BTC is about to try it again.
Knowing we are still in daily downtrend, I am looking for a trade for the...
Entire crpyto market crashed in 3/12-13, consolidated for 3-4 days, bull break, hit major resistance on 6.9K. Drop out of up trend line, retest 6.4K, bear break.
Now stock market is about to open the new week for western world. Needless to say the virus spreading is still holding confidence low of entire market.
Crypto is NOT separated from traditional market...
According to Mr. Michael Oliver (www.olivermsa.com): in bull market, when momentum structure touched monthly EMA36 the 4th time, it won't hold, it breaks through downward.
Evidence: 2003 - 2008, when momentum touched monthly EMA36 the 4th time, it started the year long crash.
Mr. Oliver gave another great example of the 1920 - 1929 US stock market, which...
ETH's higher lows are forming a new trend line (blue).
With previous trend line (black) as resistance.
I think next touch on the new trend line presents a good trade for me, because of clear stop loss: breaking previous low.
Entry: 225 - 227
Stop: breaking 220
Target: 250 - 260
BTC is retesting the trend line, now as resistance.
It's also about to touch 12H EMA36 (as resistance), which historically, takes more than once to break through.
So BTC is on critical area to decide we have strong or week bounce. Remember it's still on daily down trend, and we have a long way from recent high (10,500).
Overall, I am looking for signs of the top...
Bitcoin drop over 8% in one day, touched 36 daily moving average. What to expect next?
The 36 moving average is what used in momentum structure analysis (indicator below).
In 2019 rally, BTC pullback 15.4% to 36MA in June, spent 12 days in that range, and then bull break.
This time, it only pullback 8.78%, which I think would spend less time in the range.
In this obvious euphoria crypto market, it seems almost everything is pumping, and it becomes very hard to pick which crypto to long.
There are, laggers, who was rising, but not as hard as everybody else. Check out last 7 day performance:
Let's try shorting once again.
XTZ is long way from moving averages (1D EMA12/26), and RSI close 80.
Yes, it's in daily up trend, but even bull needs breath, I am trying to take advantage of the breathing.
Target: 1D EMA12/26.
PS: playing short when entire crypto space is moving up is dangerous, DO NOT do this if you don't know what is...
BTC is on daily up trend, with 3 trend lines I can see:
1. The most important trend line (black) starting from 2019/12/18.
2. Second trend line (blue) connecting 1/3 to 1/26.
3. Recent trend line (green) BTC is holding on.
Here's how I see this play out:
1. If green line holds, we can see another pump.
2. If green line breaks, retest blue line.
> 2-1. Blue line...
In crypto people talking about shitcoins, referring to 99% of alt-coins.
I couldn't agree more.
Most projects just are not cut out to survive as cutting edge blockchain tech startup, many don't even trying to.
Although I do believe there are still rare pearls out there, waiting to be discovered.
I've been following the Harmony-One project since it's listed on...