Market monitoring (alts/BTC) (Eth as a reference) V.2.0
Hello guys,
This is a continuation of the following chart as it has become really crowded in the comment:
I am updating this as with the market in real time, and keeping technical + fundamental analysis combined.
In the previous chart:
- We have established that wherever bitcoin would go, they will drop as there is still room for drop from a technical point of view
- Bitcoin bullish scenario has been invalidated and an impulse downwards got ignited
- Ethereum was on a massive support, and as we can see on the chart now, it has bounced hard of it with a bullish RSI hidden divergence ( which should be really interesting to watch )
- The other alts are still dumping
Ethereum is holding really well, and this could be a signal for alt reversal if it keeps holding this level. However, we need to wait further more to see if it's a fake bounce or a legit level of holding. From a fundamental point of view, this price in satoshi SHOULD hold, as in any market, the number of "HOLDERS" grows increasing the support over time. These holders only leave if something catastrophic happens, or they simply achieve their financial goal. We can exclude the last one since they could have gotten out at 1300$, which leaves us with the first scenario which is improbable but not impossible.
BTC:
Bitcoin has bounced of a small resistance line and is now on an important fib level and under the 20 day SMA. It is in my opinion that it won't hold, however I can't conclude yet without further data. Awaiting a signal at the moment.
NEO :
Neo continues to dump, and we project a price towards 0.0025 satoshis. It is important to note that the volume + selling is going drastically lower, as we can observer with the RSI. This information means we are starting to see some resistance, and we are nearing the bot.
OMG:
OMG is interesting as well, as we are seeing some buying power. However, I believe it is temporary and we will resume our drop. But we are near the bottom as well and the prices are really interesting
WTC
I really wanted to chart this, because it's incredibly interesting. We are now sitting at a MAJOR support level that has held through several fuds. It should NOT break, we are bottom, but if it does break, this could prove to be very unhealthy for the coin.
Conclusion:
- We are near the bottom, and on some alts, technically we are at the bottom satoshi wise. These trades are not valid for USD entries, as USD entry is dependent on bitcoin.
- I will be average costing my entry very soon
This is a continuation of the following chart as it has become really crowded in the comment:
In the previous chart:
- We have established that wherever bitcoin would go, they will drop as there is still room for drop from a technical point of view
- Bitcoin bullish scenario has been invalidated and an impulse downwards got ignited
- Ethereum was on a massive support, and as we can see on the chart now, it has bounced hard of it with a bullish RSI hidden divergence ( which should be really interesting to watch )
- The other alts are still dumping
Ethereum is holding really well, and this could be a signal for alt reversal if it keeps holding this level. However, we need to wait further more to see if it's a fake bounce or a legit level of holding. From a fundamental point of view, this price in satoshi SHOULD hold, as in any market, the number of "HOLDERS" grows increasing the support over time. These holders only leave if something catastrophic happens, or they simply achieve their financial goal. We can exclude the last one since they could have gotten out at 1300$, which leaves us with the first scenario which is improbable but not impossible.
BTC:
Bitcoin has bounced of a small resistance line and is now on an important fib level and under the 20 day SMA. It is in my opinion that it won't hold, however I can't conclude yet without further data. Awaiting a signal at the moment.
NEO :
Neo continues to dump, and we project a price towards 0.0025 satoshis. It is important to note that the volume + selling is going drastically lower, as we can observer with the RSI. This information means we are starting to see some resistance, and we are nearing the bot.
OMG:
OMG is interesting as well, as we are seeing some buying power. However, I believe it is temporary and we will resume our drop. But we are near the bottom as well and the prices are really interesting
WTC
I really wanted to chart this, because it's incredibly interesting. We are now sitting at a MAJOR support level that has held through several fuds. It should NOT break, we are bottom, but if it does break, this could prove to be very unhealthy for the coin.
Conclusion:
- We are near the bottom, and on some alts, technically we are at the bottom satoshi wise. These trades are not valid for USD entries, as USD entry is dependent on bitcoin.
- I will be average costing my entry very soon
Comment:
Bingo !
Timed the bottom with my buy
Timed the bottom with my buy
I believe we are at the very end of the dumping, and here's why :
BTC:
We are noticing massive resistance at 6000$, which is normal, this is the territory that needs to be held for CME/CBOE Futures to remain at around 100 billion $
OMG:
As we can see, we are nearing the previous all time low around 0.0004, which happened during a capitulation, so this target, if it will hit, it will be very fast, and I don't think you can catch it. This is a good entry price right now
NEO :
ETH:
Ethereum is the only thing I'm worried about, as it has a lot of room to dump.