Possible that we get rejected at this cloud resistance, if so then I expect sideways movement across the bottom of the cloud before further downside. Topping out on RSI also.
If we can break into the cloud, we will most likely get rejected by the 50% Fib line which coincides with top of cloud resistance.
Hi, Traders ! Monfex is on the air !
* According to a new report from SFOX, a crypto trading platform, the impact of whale traders on crypto markets is in evidence. Whales are individuals and organizations with large crypto holdings.
* The report reads upon an interview with Frank Weert, co-founder of Whale Alert, a site that keeps track of wallet crypto...
In the latter stages of October, Bitcoin spiked 43% in two days. 43%! The nature of the spike contains some useful information. Firstly, the location of the top.
Notice the Fibonacci levels drawn from the range between the high labelled A and the low labelled B. The high of the spike topped just a whisker over the 0.618 retracement level. This is an extrinsically...
Monfex is at your service and today we overview BTC/USD.
Everyone is waiting for the breakdown of the resistance line, but we are still under it and on the weekly chart we can see how the price met with MA20.
In both charts, the bullish formations of the flag and the pennant are also clearly visible.
By breakout the last support zone of this...
Bitcoin is nearing a decision point. Above, we see that Bitcoin has formed a bullish flag following the sharp move up, which began in early April. Volume largely dried up during its formation and it should increase, if we are to see a breakout above the upper channel. Bullish flags typically represent a midpoint in a move...
. There is a possibility of temporary retracement to suggested support line (8927.70). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. BTCUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
Hi, Traders ! Monfex is at your service !
Bitcoin leaves behind Gold while demonstrating double-digit gains in October.
* Bitcoin ended up October with a 10.26% gain, marking a three-month losing streak. At the same time, Gold gained just 2.74% in the same month, but previously dropping 3.17% in September – its largest monthly decline since June 2018.