Downtrend chart patterns have confirmed, bitcoin to be bearish.
With the MACD indicator supporting emergence of a head and shoulder pattern.
And the RSI indicator confirming a small uptrend
up to the new resistance line forming a head and shoulders pattern, which can be broken, due to correction,
and with Ethereum/Litecoin reaching their high, and so many other...
The US dollar was generally weak this morning regarding both gold and euro. This weakness in US dollar supported the crypto markets as well. Thus, BTC near touched 9500 area and ETH was close to 250 level. In such an environment CS/BTC pair was very good supported above 0.00000320 level. It still reasonable to expect a further rise to 0.00000360 resistance level...
This looks like a ABC correction to the earlier bull move. 0.48 might be good buy.
Remember this is not financial advice, if you’re not sure if an investment is right for you, you should always seek professional advice. All investments can rise and fall in value so you could get back less than you invest. Past performance isn’t a guide to the future.
XLM has come back down and is now at a key support level. It also is about to touch the uptrend line it has been following for quite some time.
If BTC behaves there could be an entry here for a 9% gain up to previous structure.
We need a close above the support at 4344 and a bullish engulfing candle for confirmation.
Got into powr last night as it was forming a symmetrical triangle with the trend line. Sure enough a breakout happened overnight but it did not quite reach my sell target. It has no retraced and touched the 50% on fibs. Hoping for a bounce here up to my take profit target of 6447.
| Summary |
Fuelled by the perfect storm of uncertainty in Asia, regulatory pressure in the US, lack of market exuberance and over extension in price action, the 100d MA Bull to Bear Cycle has now completed with price action hitting the 100d MA support on 16/01/18.
The current cycle lasted a total of 124 days, which is an over extension of 8d past the...