ETH has broken out of the short term (1 week) channel
It is currently still in the medium term downtrend channel started on May 5th
It is also in a short term uptrend channel started on May 28th
Facing psychological and fibonacci resistance at $600
Facing downtrend and fibonacci resistance at $650
If it breaks above $650, we can consider it a break of the...
ETHUSD broke out of both the downtrend resistance line and 0.786 fib resistance level with significant volume at around 2018-05-29 7AM EST.
Expecting upward movement to resistance at $600 then a retrace back to $540.
Be aware that we are still in the downtrend channel started on May 5th until a significant break above $650.
Notice the bullish divergence before...
XMRUSD has been in major corrective waves since early 2018. It is now touching a major support level.
RSI and stochastic oscillators are oversold
MACD is losing momentum
Approaching 0.786 fib retracement for the rally from August 2017 to December 2017
Elliot impulse waves 1-5 and correction waves are complete
Ready for new waves up
XRPUSD is currently in a downtrend channel, but is approaching Fibonacci levels 0.786 at 56 cents and 1 at 46 cents.
The plan here is to wait for a bounce off one of the levels as well as a MACD or SMA crossover to go long, and take profit near the corresponding upper level.
Set a tight stop at 3% under your entry fib level.
Let's see what happens!
This is my first published analysis after spending some time learning about TA and charting. All signs on the ETHUSD point to a bearish continuation towards $465 in the next few weeks.
It is currently forming a triangle on the hourly chart with resistance at the 0.5 Fibonacci retracement level ($600). When it breaks out, I expect it to break downward towards $510...