Hopefully we will make an higher high finally, breaking up local trendlines but expected resistance ad 1100 satoshis, first good target about 1300 satoshis.
Stoploss at daily close below previous low .
As in the chart we can see Ethereum is moving within the marked channel, if we break south the next support is 215USD level as 200SMA hourly, in case of strong break the next support will be 175USD level as 50SMA daily, breaking on the upside will lead us to the recent highs.
Wait for action next to the bounderies of this channel.
As highlighted in the chart bitcoin is in a triangle formation which is a continuation pattern of the downhill seen yesterday, but coution and stop loss is a must since bitcoin has often proven of not caring about chart patterns.
On a larger scale H&S formation which is bearish as well.
I would short about 7400/7500 USD with a tight stop loss...
I would keep an eye on the weekly chart of BTC, it looks like a shooting star candle is forming on the weekly.
What is a shooting star candle?
The shooting star candlestick is a chart formation consisting of a candlestick with a small real body, and a large upper shadow. This pattern represents a potential reversal in an uptrend especially when...
Litecoin just got rejected by long term trend line resistance, if it is not able to go through it will get rejected and a pull back at 61,8% fib level is expected or a 200 MA which can act as support.