Considering the following:
Decreasing volume
Its looking like a move in the price of BTC will come soon.
Oversold state on the RSI chart indicated in green tells me that the price will go upwards.
The upper and lower bounds of the channel indicated with light blue lines tell me that the price will go up.
However market sentiment is poor at the moment...
The RSI on the day chart for ETH is showing up at 18.5. That is distinctly lower than ETH has ever been on the RSI, ever, and it indicates an oversold market. However, if BTC continues down to retest $6000 which it looks like it could very well do, then ETH, being strongly tied to BTC of course, will follow suit to a large extent.
My prediction is another short...
Resistances in green, supports in red.
BTC is in shape to hit $9.5-9.6k, if this happens it will provide enough momentum to ADAUSD to smash through the two resistance levels I've indicated and hit $0.28.
Note the current head and shoulders pattern on the 1h chart that I have indicated above will likely result in ADA hitting $0.184 in the next 6-8 hours...
The price of BTCUSD bounced off the 200-day moving average today as the MA converged somewhat with the $9k resistance level. I expect BTC should break through this resistance for a while and hit $9600 but as the price approaches the $9600 level, the downtrending resistance will cause the price to rally down thereafter. I'm about 70% confident that BTC will reach...
In my last TA I looked at BTCUSD on the 24hr chart and indicated that an MACD and RSI bullish divergence were forming.
These bullish patterns have now clearly formed and we even see a bullish crossover on the MACD. Bulls regain control... for now.
Two major flags to consider in terms of bears taking over again.
1. Bear Resistance Trendline indicated in...
In my last TA I indicated that BTC would drop to $7.9-$8k region (blue box on the chart). I also pointed out how this drop would result in an RSI pattern, seen twice since December, which has resulted in bulls regaining temporary control when looking at the 4hr charts ().
As I write this we are at $7750 and I'm looking at the 24hr BTCUSD chart for this...
The RSI indicates that BTC has been oversold for the last while. When the RSI stays well below 50 for a while it is, in general, a good time to buy. The way this has played out in the past is that the best time to buy was as the RSI shot downwards quickly following a sustained period well below 50 (I've highlighted some previous cases for you to look at, where the...
Bull flag, 100 day moving average and 0.382 fib retracement converging. Expecting LTC to breakout in the next week and eventually settle on the 0.618 retracement by early April.
Disclaimer: I am not a financial advisor.
BUY LOW - SELL HIGH. BUY LOW - SELL HIGH
ADA: Drops 40% over 7 days, correction.
Drops 33% over 3 days, correction.
Drops 50% over 7 days, correction. and now we see some consolidation (relatively speaking) over 25 days.
My point is a simple one; cardano has dropped and dropped and dropped and then dropped again, the 3 month...
The January bull run saw ETH's RSI through the roof peaking at 83-85 three times and it was continuously >70 for days as a result of the market being very much overbought. The correction was inevitable. The question of "When will this end?!" has been high on traders minds and no doubt driving hodler demented.
If we look now to recent RSI values and consider the...
