• Price consolidation zone on the chart is clearly visible, with price hovering around the EMAs.
• Safe entry would be on breakout from this consolidation, but that's boring.
• Degenerate entry would be close to the triangle support near 6285.
• Break down from the triangle pattern would start a pattern of lower lows, hence the stop-loss near 5985.
• As is typical of most weekends, we're seeing significant lack of trade volume across most of crypto.
• This weekend, however, we're seeing a very sharp drop in trade volume considering the level of activity just a few days ago.
• Bitcoin seems to be consolidating in the crossing area of an ascending channel and a descending one.
• Currently, we're...
BITTREX:DASHBTC has been in a descending channel for a very, very long time. It is currently seeing some trend reversal signals, most notably on the RSI indicator and the potential Inverted Head & Shoulders pattern. Resistance levels are shown on the chart. A break out from the neckline of the pattern is a definite trend reversal confirmation, and a safe entry.
It seems like BTC has found itself a long-term ascending channel. Last week, the price hit the top of this channel and was rejected. Recently, Bitcoin has found a narrow descending channel as it corrects inside the bigger channel. Prior to the fork, I think it's entirely plausible for Bitcoin to reach below $4850 before any major bullish momentum. This is purely...
DASH has dropped quite a bit since its previous rally. However, it has maintained its position inside the long-term bullish channel and is currently dropping near the support. Buy as close to the support, and sell at any of the resistance levels.
BITTREX:MAIDBTC is currently resting near a channel support, close to a resistance area.
A risky buy area is close to the bottom of the channel. Place tight stop-losses in case the channel is broken.
A safer buy area is on a confirmation of a breakout above the resistance.
Target is near the top of the channel, which also lines up with a previous resistance on a...
I think BITTREX:BTCUSDT is ready for a next push up into the 4800 USDT area within the next several hours.
It looks like it's found itself a new channel and it's at the bottom of it at the time of this writing. There is a clear bullish pennant forming at its current position.
Note that today is Wednesday, and recent historical evidence suggests Tuesdays and...
BITTREX:XEMBTC has found itself a nice support along the bottom of the ascending channel. It has successfully crossed the 144-period moving average.
I expect the price to continue to rise into the mid-channel zone, where it would be a safe exit. A riskier exit would be near the top of the channel.
BITTREX:QTUMBTC has seen a healthy rise in its current ascending channel. The mid-channel line has provided a very strong support. Look for entry near the mid-channel line, and safe exits at the top of the channel.
If the price breaks resistance near 0.00382 BTC, I expect it to potentially break the channel and aim for previous resistance zones. I will update the...