If the current support keeps stable and we exit this pattern to the upside, I will target the 1.618 extension of the last bullish impuls respectively the 0.236 retracement (measured from ATH to recent lows). Potential double bottom , if sometime in the future we manage to close above 0.122.
Higher lows so far both on price and RSI so still waiting for higher highs on prices to terminate wave 3 around .146 fib retracement measured from ATH to the recent lows (also 2.618 extension of the last bullish wave).
Might need another pullback to the channel support around .236 retracement to get enough buyers in.
View will be invalidated if we make a lower low...
Let's wait for the daily candle close, maybe we can witness a bullish engulfing pattern which could be a sign for a (at least short term) reversal.
Bullish divergence on RSI and MACD clearly visible.
But you have to be cautious with longs, maybe we need another leg down due to the lack of bullish momentum and the triangle formation which could be a sign of...
Still waiting for the 5th bullish wave, but so long candle closes don't show signs of a reversal.
On the other hand, the momentum is already oversold right at the support and many people shorting this support (see rise in BTCUSDSHORTS). Slight bullish divergence in RSI.
So we could expect another wave up from here with a target around 8.7-9k.
If the 7K support...
Trading altcoins is not only about Dollar dependency, they are also traded against the Bitcoin. So let's have a look into the weekly EOS/BTC chart.
Stoch RSI at 0 for 4 weeks now, just like the last time. Last weekly candle with long lower shadow.
Time for some moves to the upside. Consider a target at the next resistence at about 0.0014 in the case of a break...
Still trading inside the triangle formation and still looking not very bullish to me. It can take some some to see bigger moves after a breakout.
Hidden bearish divergence in daily RSI, I would not be surprised to see the price breaking down until finding support around 0.73 or even 0.6.
First target in the case of an upside break could be around 1.35.
IOTA is trading inside symmetrical triangle formation and keeps on showing weakness.
We left the channel to the downside and are now testing the trendline.
Downside target of the triangle is clearly the 0.63 support area. BTC is, ragarding the overbought condition on daily, due for a correction and so a test of this support isn'nt that unlikely.
A break to the...
Szenario of the last analysis still intact, but unfortunately IOTA is not that kind of bullish that I expected, so I adjusted my targets a bit.
IOTA did not manage to break up the last 1.25 high, instead it formed a new resistance line (green dotted).
A break above this line could lead us to a short term target around 1.45, which is the 1.618 fib extension of wave...
Iota defendet succesfully the 0.90 support twice, unklike BTC and other cryptos which made lower lows, so we might have found a stable bottom.
Iota now struggling to break out of the sidewards resistance trendline from the ATH.
A valid breakout above that line could lead to the assumption that Iota has left the crash pattern and is ready for further gains....
Maybe we are at the end of wave 2 of a correction move from too much downside we had.
We have a strong support around 6k which was tested twice and a little bullish divergence in RSI in the lower timeframes. H&S still in play.
Momentum oversold now, so if the trendline keeps intact we could break out of the falling wedge and maybe get some strength to get to...
Given the fact of the expected SEC decision today, we see a lot of uncertanty in the market.
For now it looks like the .80 support holds and XRP stays in the uptrend channel.
Divergence on RSI, also overbought on 1hr.
Positive news regarding SEC could take us through the resistance line at least toupside of the trend channel.
Dropping out of the channel would open...
Broke out of the bull flag, but until now did not gain much traction.
If the breakout keeps valid, we could estimate a target around 380 USD (measured by flagpole method) which was aslo the last high and is slightly above 0.618 retracement.
From there, a nice cup and handle could form.
A drop below the upper flag trendline could take us down to support area...
The bull flag broke to the upside, but only with little volume.
A lot of resistance around 9.5k.
Think there will be the end of wave B, wave C could take us to around 8.2k to test the downchannel trendline.
A break through the resistance zone above 10k would open doors for higher highs.