Beginning of the real bear market
As we all know BTC has taken a beating in the last few weeks .Many have different theories as to why the market went down so much,but here using Technical analysis the reason is very clear ...
in late 2015 BTC had a huge increase in volume and created a bull pivot as well as a bull MA crossing.This ignited the bull run
We are expecting a good break out from Qtum soon
Great risk/return on this trade
-Bullish short-term trend
-bullish MA crossing(black arrow)
-25ma acting as support
**STOP** UNDER 478
- 100 MA resistance broken
- MACD bullish
- trendline broken
**as always this isn't financial advice , always do your own research before investing **
Ethereum on logarithmic weekly chart very bearish , broke key TA level at 100 ma on weekly chart, this is usually a very bearish signal.recently found resistance at the 9 ma ( another bearish signal )
We remain Bearish on eth unless it can break over the 100 ma with volume .. remember this is a long time frame which means a long term trade.
Bitcoin decision time is getting close , formation is getting tighter might means volatility either way can have a big impact in the price action for the weeks to follow.Currently has a lot of support in the 6200-6000 region and major resistance at the 6850-6900 area
we are still bullish on bitcoin , although if 6200-6000 area fails to hold...
-broke out of wedge on 4 hour chart and now in accumulation zone around 4400 sats
-forming support on the 25ma on 4 hour chart (bullish)
- attempting to create a pivot also
STOP UNDER 4000
**as always not financial advice , always do your own research before investing.Invest at your own risk **
broke out of descending triangle on daily chart , finding support at the 25ma , good news with zcash recently i expect it to keep climbing
**ENTER** AROUND .02000
**STOP** UNDER 17950
**TARGETS** .022 -.024 -.027
not financial advice , invest at your own risk =)
broke out of descending triangle formation on h4 chart , it also made a pivot and crossed key MA levels !
blue dotted lines=targets
**AS ALWAYS , NOT FINANCIAL ADVISE ALWAYS DO YOUR OWN RESEARCH BEFORE INVESTING.INVEST AT YOUR OWN WILL**