It looks like there is a rising wedge forming on the 1 hour. MACD may be getting ready to cross over.
This is theoretically a bearish sign, but in the recent past, BTCUSDT exploded upward after the rising wedge, so beware.
My current sentiment is that a correctio is needed and we will turn downward.
In the past 24 hours, a few rising wedges have developed, with a drop following. The pattern continues to occur.
Bitcoin is so volatile, so anything is possible, but right now, it seems like the rising wedges are playing their way through, with a drop after a few bounces within the wedge boundaries.
There's a lot going on here, and I am not a pro, but here are my thoughts.
The three arrows represent potential targets. A retrace to the 0.02685 seems very possible, and maybe to the next level on the resistance fan (0.0252?).
On the 1H, the RSI seems to consistently fall to at least 15.75 or even just below 11.0. Right now, we are hovering around 20. So,...
We did have a spike today in prices, but check out the RSI and MACD trends. Very downward trajectory in the peaks.
We are in an upward channel at the moment, and perhaps we will wind up in a symmetrical triangle, but we are likely to bounce back down to the 13,300 mark. I don't see us getting back up to the 14,400+ range in the next few days.
I have put a SHORT entry target just under 13700.
BTC broke under the recent trendline of higher lows. There is now a trendline of lower highs.
TP1 at ~13168
TP2 at ~12893
Others are projecting far lower dips, down into the 12450 or 11900 range. Indeed, very possible. However, this is a volatile time, many including me, believing there is a mid- and...
Looking at the resistance fan, I think ETHBTC may find support at the 0.0295 to 0.0299 level (depending on how long the decline takes). I short rally would not surprise me, but it has found resistance at the 0.618 - I wouldn't expect to see it go significantly higher than the 0.0322 range even if it rebounds.
For the past month, it has stayed within the...
On the 1H, there is an ascending wedge happening. There still seems to be major resistance around 0.0333. That will intersect with the larger descending wedge on 28 September, and I suspect it will have a major drop from there, forming a new lower high and a new lower low, likely below 0.030.
On the 1H, a cup and handle seems to have formed. This may take us up to the 0.337 level or so. However, that is the upper boundary of what I believe may be a downward channel.
The cup and handle is one small bullish signal in what I believe to be a bearish pattern overall.
We can see the RSI drifting upward and MACD, yet, the price has not gone up...
My standard disclaimer - I am new at this, so please don't view this as analysis from an experienced trader.
On the 15 minute, there seems to be a bit of a descending channel, with a peak around 0.03262.
If it breaks to the upside, this is still part of what MAY be a descending wedge forming on the 1H, with an upper boundary currently around 0.0343. If it...
Disclaimer: I am not a pro - still very new at this and learning. Not investment advice, just my ideas at the moment - interested in feedback.
On the 1H, I am seeing a broadening wedge. It has the characteristic megaphone pattern (top slope greater than the bottom slope), with volume rising when the price is moving up, and volume falling when the price is moving...
It has been disappointing to see the ETC/BTC pair dropping before the Castillo airdrop, and looking at the pattern ETC has had, some further drops are likely to the bottom of the red dotted lines. MACD and RSI have been fluctuating, but drifting upward.
Just for fun I did the "Moon Phase" analysis, and in this most recent cycle, it seems like ETC falls after a...
OMGBTC pair is oversold on the 1 hour and 4 hour right now. The 50 EMA has consistently been a strong support. The trend is clearly bullish, so an upswing is expected.
NONE OF THIS IS INVESTMENT ADVICE!
So, we had our breakout and it was to the upside. However, the crossing of the two EMAs above is likely to offer considerable resistance, so there is a bit of room for upward movement, but not much until that resistance is encountered. It seems like we have some support at the 0.00046 level, and it has bounced there once. We had decent volume on the original...