The long from 3360 in my previous analysis has reached it's target of 3690.
Since I don't see continuation happening, we probably go back down.
Also, everyone is bullish... so what might happen?
The trade above was the trade I originally took in my previous 4h analysis. It is working out great and target is almost reached.
Bitcoin is dropping slowly as expected and the bearish sentiment is building up. News about the VanEck ETF just came out right in time...
Bitcoin was quite bullish on the lower timeframes and started breaking the equilibrium wedge up but rejected hard and has now trapped some fomo longers and shaked people out of their short.
My guess is that we might resume the bearish trend but will build up the panic over the course of few weeks/months.
We will likely stay above 3130 and range between 3200-3894...
The wedge equilibrium is still forming and the decision moment should happen in a few days.
Indicators are leaning bullish on the lower timeframes and we are breaking small local trends and holding the local uptrend.
Bitfinex shorts are closing and longs are opening in the 3800 range as expected. Still the volume is dead and we haven't seen clear bullish...
I see that a lot of people are looking at either a Inverse head and shoulder with the right shoulder at 3600 or a higher low around 3300.
Few bears are calling for low 2k Bitcoin in the coming weeks and some have doom scenarios to at least 1000usd.
What if 3k will break but hold?
This analysis on the 12h chart gives that scenario.
The highest dumping volume...
ETH was quite bullish for the last week into christmas, I think that a lot of people bought the christmas rally end of year hype. It clearly shows it on the chart, a parabolic move up and breaking the upper trendline of the channel but rejected hard for now. It looks like a blow off top and we might get back to the trend start to shake out the mini-euphoria rally...
My last inverse chart of ethereum was a banger.
It hit my target pretty perfectly, but looking at it now it may have one more leg down.
It broke the channel up and is now basically making a parabolic ascend on the inverse chart. A reverse bullrun you may say.
RSI trendline on the daily hasn't broken yet and also didn't make a lower low.
I took some fractals for...
Bitcoin is at the moment great to trade because of the volatility. When trading smaller timeframes the chances of forgetting the bigger picture increases.
I think that analysis paralysis is one of the big problems for daytraders, so I thought of making a high timeframe analysis since that shows the current trend better.
As you see on the 3day chart, the trend is...
In my last ETHUSD analysis I said the dump would happen, it only got 2 likes, I assume people didn't saw it coming.
Well, buy their blood and and thank them for their money.
We broke the yearly low as well as the November low after breaking the yearly support of 6k. If you missed the short, there will be another chance at the retest of the now support turned resistance.
My gameplan is short the resistance with targets at lower-mid 4ks for the short term and play bounces back to resistance and if we break lower the mid 2ks as final...
After the Tether fud, ETF news, Bakkt announcement, Bitcoin is still trading sideways in a 12% range for 2 months.
Annual volatility at the moment for Bitcoin is at 22%( see Bitmex:Bvol ), what is really low as 45% is the level considered low volatility and we are under it.
Bitcoin is tradeable but very slow because of the low volatility, but consider every...
BRING OUT THE TETHER FUD.
Tether lost its parity of 1 tether = 1usd, at the moment of writing it is around 92 cents. The reason is that Bitfinex is having issues with banking what halted all fiat transactions from and to Bitfinex. The affected exchanges are all Tether exchanges, notably Binance and Okex.
Everybody is scared right now in the crypto space,...