BNB bounced off the support (yellow line) with decent volume and reclaimed the territory above 50 EMA in 4H timeframe.
Possible retracement to 22.8 area, but if that area holde, we can go as far as 23.8, or maybe further to 24-25
After failing to hold the yellow consolidation zone, ETH broke below and retested the trendline.
The retest seems beautiful and now ETH is trying to recover the 50 EMA territory, which coincides with the consolidation yellow box.
Reclaim this box, ETH can continue its rally to 500 USD.
But if it fails, deeper correction is due
Few days ago, I posted an idea saying that Bitcoin NEED to hold the green zone. Guess what? It DID HOLD with a decent bullish engulfing candle as well!
Even better, Bitcoin is now above 50 EMA in 4H time frame. Now, what we need to see is if the king of crypto-asset can break 12000 to try for another breakout to 13500-13600 zone.
We all know that Bitcoin, or crypto market in general is soooo bullish right now. As far as I know, so many people in cryptospace are shouting 20K! 27K! Even 50 or 100K USD this year.
While I do hope for that to happen, and I am bullish on the long term, by simple technical analysis, a correction is due soon.
Let us look at the bigger picture. In 1 month...
Few days ago, Ethereum had broken the triangle pattern. Theoretically, ETH can go to 490-500 USD now.
However, ETH seemed to hit a resistance and is now going back and forth in the yellow area I drew, and no clear indication yet on where ETH will go.
However, now ETH is hovering above 0.382 fib. As long as this area holds, maybe a little bit below until 0.618, we...
Hello there, this is my first idea in English version. It will be about XRP!
So, XRP had broken out of the falling wedge with decent volume. Yesterday, XRP met with violent rejection from the wedge's high, kinda forming a double top pattern and drop quite heavily, liquidating those who overleverage their trading.
However, if we pull a fib retracement, we are...