Bitcoin is further consolidating in a tight range today. The immediate pattern it draws is a bull pennant, but the entire structure can also be seen as a another bear flag. A daily close above the bull pennant structure would be considered bullish, a daily close below 6.4k would be considered bearish. The red rectangles are areas of major resistance. I assume that...
XRP/BTC broke the downward trendline that was established since 20 April '18. (marked as red) We didn't see an increase in volume yet, so I'd wait for a break of the resistance area around 0.00004400 BTC before scaling into a Long. If the area breaks, we will most likely see a huge pump. A stop could be set around the most recent support line (marked as green).
XRP/BTC has an established downward trendline since 20 April '18. Right now, we can see that the candles squeeze into the resistance. We can also see some bullish divergence on the 4h RSI, but I don't give that too much credit during a bear market. If the trendline breaks, it might still be a really good setup for a Long. I personally wouldn't anticipate the...
ETH/USD is currently at a point for a good Long entry. Reasons: 1. Prices have hit the bottom of the falling wedge, which is generally considered a bullish pattern. It's a good Risk/Reward setup right now. A stop could be set around $160-$170. 2. We see bullish divergence on the Daily RSI. 3. We've had multiple days of selloff with an increase in volume, some...
The RSI, especially on the larger timeframes, seems to be one of the most reliable indicators out there. On every big candle we have these days, the RSI gains & drops massivly in strength. What's different now from before, is, that the RSI also loses a lot in strength during a dump. If you compare it to one of the earlier dumps this year (marked with the yellow...
"Markets usually don't do what the majority of people expect to happen." Since there are so many people that would like to buy a dip at or under 5k, we might just see an incredibly large, multi-month rounding bottom on BTC, potentially transforming into a Cup & Handle pattern. If this were to happen, we can expect accumulation during the next months and a slow...