Zooming out to the 8hr BTC/USD looks very good, still clearly on a bullish trajectory and the large volume on the lower trend line touch suggest the Bulls are still in control (for now)
There's still a chance for price to retrace lower but it seems less likely in the short term at least.
DOT/BTC is battling resistance near its previous high, if it flips the lower trend line into support this could indicate larger gains against BTC for DOT.
A close below could see a move back to the downside, this resulted in a 65% loss in Q4 last year.
The bitcoin price has potentially shown us some new levels for support and resistance levels
We've found support off a multi week trend line which seems to give us new parameters for the consolidation pattern in play, possibly indicating a prolonged consolidation.
This will allow the 20 week moving average to catch up and potentially suppress volatility on a...
Bitcoin still technically strong, this correction is what we need to do for another huge leg up.
The only panicking should be from trying to find more money to buy it on the cheap.
You have to understand the market needs sellers and if EVERYONE is bullish then price goes hunting for them
Ethereum has corrected back to the 15th-16th January support level and begun to resume higher.
Could this be the end of the correction or is there more to come?
Alt coins barely lost any value in bitcoin during the correction which indicates Alt coin strength and potential for a further run to the upside for them if bitcoin completes the large triangle pattern...
Bitcoin has found support at 34000, still plenty of room to consolidate inside the triangle until end of the week potentially allowing ALTs to run a bit more before volatility increases for Bitcoin again.
Beware of a push below the triangle to pick up some stops before a move to the upside
After breaking out. Ethereum has come back in for the retest and is now targeting price discovery above it's ATH at around the 1430 level.
Get a close above the 1440 level and we could see another HUGE move to the upside.
Be aware that we could still see a rejection or further consolidation at the 1430-40 level in the meantime.