REKTCryptoTrader

REKTCryptoTrader

Coins love to rally on hate. And it is particularly strong with this one.

REKTCryptoTrader

ADA/BTC is overdue for a bounce I believe. We can see some nice bullish divergence on the higher timeframes. If the resistance around 1370 sats breaks and acts as a support, I think we might see a retrace to the 0.382 - 0.5 fib levels. Bitcoin might ruin the party if it drops below 5300$ though.

REKTCryptoTrader

This looks like an Adam & Eve double bottom to me. If it cracks $120 and the pattern confirms, we can expect a push to around $140 on the breakout.

REKTCryptoTrader

The markets are way too oversold and fearful right now, a bounce should be coming up soon. The next support level would be somewhere around $50, but I don't really see that happening for now. I consider one more wave down into the $100 region, then a correction to somewhere between the 0.382 and 0.618 Fib level ($145-$170). Should be a good move since the dump was...

REKTCryptoTrader Updated 

The crypto markets have been super volatile over the last couple of days and we see recording breaking volume across many exchanges, indicating that capitulation might be in process right now. This doesn't necessarily mean that it'll be "the low", but I believe we're pretty damn close to it. Good opportunities are coming up! Elliot Waves I'm personally not a...

REKTCryptoTrader

Bitcoin Cash is forming a bullpennant on the lower timeframes and looks like it's getting ready for a breakout. If prior resistance around the red box breaks ( ~0.09 Sats, $600 USD), I wouldn't be surprised to see continuation of the little bull run up to $1000, leading up to the hardfork on November 15. This move would be supported by the double bottom and fueled...

REKTCryptoTrader

EOS and other large cap alts are starting to look promising. The symmetrical triangle already broke to the upside and momentum is starting to pick up. If buyers can take out the most recent high around 8900, I think we're up for more. Good first take-profit targets could be around the 1 and 1.618 trend-based fib extension, which is around 0.001 Sats ($7.17) and...

REKTCryptoTrader Updated 

Finally some action! So, Bitcoin decided to break out of its bearflag and retest the lower trendline of the triangle. The volume was pretty heavy on this drop with good follow through, indicating more downside. RSI The RSI on the 4 hour is really oversold right now, so I don't think we will break support immediately. We will most likely see some kind of...

REKTCryptoTrader

Right now, Ethereum is struggling to hold support around the $217 area. If the Neckline snaps with big volume, my target would be somewhere around $185. This is a little less than a measured move from the head to the Neckline. While the RSI on the 4 hour chart doesn't have that much room to go, I surely does on the Daily chart. I wouldn't necessarily anticipate...

REKTCryptoTrader

Bitcoin Cash just had a breakout with really good volume. If support above the first resistance and the MA can be established, I'd say that continuation is very likely. The move is supported by bullish divergence on the Daily RSI. It's a very tricky situation right now, because Bitcoin seems to be bearish and Altcoins usually follow. I'd say its possible that we...

REKTCryptoTrader

Looking at the BTC market today, I'm feeling pretty bearish. Since the 6.5k area didn't hold, I'm assuming that we go down even further to the 6.2k zone. Right now, we see the market recovering / pulling back, but I think that 6.5k will act as a strong resistance now. If we tag that area, it would be a good opportunity to load up on some shorts. Shall the bulls...

REKTCryptoTrader

Looking at the Bitcoin Chart today, I see signs of weakness. The chart is forming a descending triangle pattern, which is considered bearish. A retest of $6500 is likely. This is an area of good support, since it's supported by the 50 MA as well. If this area doesn't hold, we might go down all the way to $6300 - $6200 again. If we went that far, I wouldn't be...

REKTCryptoTrader

If you missed out on the Ripple breakout, don't FOMO and rather ask yourself what other markets potentially could take off in the near future. What I'm eyeing right now is Cardano. It's got some bullish support through the double bottom and the RSI divergence. Like almost every other market, it's drawing the same kind of pattern, but it hasn't made a giant move...

REKTCryptoTrader

Like I mentioned in my earlier analysis, it seemed like the RSI needed to cool off a little before Ripple could make another move. We had two days of consolidation now and created a nice bull pennant, which often results in continuation to the upside. A Long trade would have a pretty good Risk/Reward ratio right now. First target could be the next resistance level...

REKTCryptoTrader

Taking a look at the BTC charts today, Bulls and Bears seem kind of in equilibrium. The range is getting tighter and tighter. I don't think we will immediately break above 6.6k or below 6.2k. We mighty consolidate between this range for a while. This may seem like BTC has finally stabilized, but I rather think it's the calm before the storm. We're at the end of a...

REKTCryptoTrader

Now that we got a nice little breakout on Ripple, we should look at some targets. How high could this thing potentially be going during a bear market / upcoming accumulation phase? Volume First of all, I take a look at the volume. It was really significant on this breakout. Almost as much as during the last real altcoin season. This makes me believe that we're...

REKTCryptoTrader

Yesterday, BTC dropped right into the support zone. Since this zone held up pretty well so far, I don't assume that it is going to break without a further pullback. The RSI on the smaller timeframes doesn't have much juice to go lower. If one wanted to scale into a short, the marked area would be a great territory. We're still in a technical bear trend and keep...

REKTCryptoTrader

When charting, we always want to look at both the USD and the BTC pair. Both should be in unison to form an actual trend. Right now, XRP/USD has some bullish support through the 50 MA and the Inverse Head&Shoulder structure. Major resistance is around downward trendline that's basically been established since the beginning of the year. While Ripple already broke...