BTC's heavy dump has brought significant short term losses to the entire crypto market. On the daily chart it broke below both the 50 and 200 MA's but seems to be holding support right around the 200. On the weekly chart, the 50 MA appears to be a strong support. The 50 weekly MA has appeared to effectively guide BTC price action since November of 2019. A...
For the first time this year, ETH has broken sideways from a parabolic curve. Looking elsewhere in the market, it appears as though this is almost assuredly correlated to the manipulation of sentiment at BTC's strongly psychological $10,000 price level. The current leverage trading options available likely being the vehicle for this manipulation-- with heavy...
Posting this as a supplement to my last post--an exploded view of the parabolic curve I believe ETH will follow, bringing it back to its ATH around the time of the BTC halving.
Today's pullback in ETH, influenced by BTC's, looks to be a short rest before resuming a heavily bullish parabolic rise. Since January 1, ETH has exploded with around 130% gains. The rejection at the .718 Fib retracement level, which correlates with BTC's at its .618, is healthy as RSI was very overbought. After a recharge, I anticipate the rise will resume and...
BTC saw a decently sized selloff this morning after trading sideways under the .618 Fib retracement level (around $10,500), bringing the rest of the market down with it. However, the .5 level (around $9,780) is still serving as strong support so this dip looks like a good buying opportunity as RSI levels get tamed a bit from the selloff.
After breaking above the 20 EMA on the daily chart, BTC saw a rally to the upper end of a falling wedge pattern dating back to June of 2019. It's now broken out, but is facing resistance at the 233 daily EMA around $8100. The same resistance point can be found on the weekly 20 EMA. A daily close above this (around $8200) could be a very good sign of near term...
For the first time, ETH has had 2 daily closes above a long term resistance trendline that it had been trapped beneath since February of 2018. It has also closed above the 20 EMAs on both the 4 hourly and daily charts since breaking out. However, it is struggling with resistance around the $140 mark. If ETH can break through and hold above $140 then it's likely to...
After falling close to a long term support line, ETH has rebounded, piercing the 20 EMA on both the daily and 4 hourly charts--as well as a long term resistance line that can be traced back to February of 2018. Will this hold and start an uptrend?
ETH is inching downwards toward an ascending support line (green line) that can be traced back over 2.5 years to 2017. This line was last tested on 12/27/19. The compressed consolidation continues as it bounces between this and a long term descending resistance line dating back to February of 2018.
ETH continues to get squeezed in between converging support and resistance lines that can both be traced back nearly 2 years. 20 EMA on the daily appears to be a current point of resistance. Price is once again above the 20 EMA on the 4 hourly after dropping below briefly. Look for a breakout in the coming week, likely to the upside.
(Continuation from previous posts) ETH spent a brief bit of time above the 20 EMA on the daily chart as it headed for a collision with a long term downward trendline. However, the ~$134 support it saw did not hold and it broke down below it, finding support at the 20 EMA on the 4 hourly. If this support breaks, it will likely find strong support around $124 from...
For the first time since mid November, ETH closed a daily candle above the 20 EMA on 12/29/19. The price has managed to hold right around (and just above) the ~$134 mark, which had previously served as resistance since 12/17. At the same time, a long term downward trendline (yellow line) that can be traced back nearly 2 years (with 8 touches since February of 2018...
ETH just popped up above the 20 EMA on the daily chart, which currently sits right at the resistance it's been seeing since 12/17 (red line). This is the first time it's gotten above the 20 EMA on the daily chart since mid November. Simultaneously, it seems to be testing a downward trendline that can be traced back nearly 2 years (yellow line). If it can hold...
ETH is currently bumping its head up against a downward trendline that can be traced back to May of 2018. Will it break the resistance and hold or reject hard?
