BTC will either follow the porabola or break through it. A bounce off the porabola with volume is a good sign to buy in and sell at second blue resistance. If broken through, will wait for new pattern before buy in.
Bitcoin looks to be inside a falling wedge. Coupled with a drop in volume, this can be seen as quite bullish in the mid term. Blue arrow indicates bounce zone of $6100. Purple arrow indicates possible journey to $8000. This wave will complete the Elliot wave and require an ABC decision. Red arrow indicating RSI bottoming out. It can be seen from previous RSI...
The drawn arrow indicates the end of a major trend which lands on the 19th of April. We should see a decision for Bitcoins' direction by this deadline. Furthermore, we are approaching the end of our Elliot Wave ABC cycle. We need to break the 0.61 Fib level ($7900) in order to assume an upward trend. A break below $6500 with volume will see a bearish continuation....
Bitcoin hovering above and below it's biggest trend line. 15 minutes until this candle closes. if it closes below this major trend line we will see a downtrend. It will either have an immediate sell-off or try and retest the trend line as a resistance. A failed retest/sell-off should see us bounce at 10445 dollars.
XMR may be in the process of forming a cup and handle pattern. Although the RSI is heading into the overbought region, It might be a good entry if the handle breaks up, for a short term trade. Tight stop losses are a must here.
