I expected a small reversal to $6,100 when Bitcoin was trading at it's $5400 support - however; it failed to hold. Now, Bitcoin is trading at the next support levels - between $4400 and $4800, plus at the support level of the falling wedge pattern.
I'll update this idea by the hour to look at reversal signs on the intra-day chart.
Best of luck, ...
Let me know if you have any questions on the above analysis.
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Have a great day :)
I hope everyone is having a great week.
Here is a simple analysis showing key factors that lead to a new trend. If you are interested in reading more on trend changes and stories, check below in the updates section.
As you have noticed, Bitcoin has been acting very neutral for the past few days with no big movements either ways. Trading Altcoins (long/short) would be more reasonable, until signs of a defined trend for Bitcoin shows.
Long-term Bitcoin Overview
Here is an update on Ripple's idea. Keep in mind this is a short-term analysis and does not give you the long-term view of this coin.
Let me know if you have any further questions in the comment section below.
* This is not a trading signal
Best of luck,
For those who have missed Ripple's train and looking for an entry point for cheap Ripple - wait for the support to break.
After Ripple breaks the support, it will end up trading around $0.38-$0.35 range (previous supply area).
Best of luck,
Bitcoin entered into consolidation after the bearish move (intra-day chart), where you may trade the breakout. If the trading range breaks to the upside, then you go long and if it breaks to the downside, its a short trade.
I'll update this idea after the breakout.