Things aren't looking great for the king, well they are, but they look better for the peasants. BTC continues to lose strength against the rest of the market. This long term downtrend is not only persistent but also increasing. RSI continues to fall and we are approaching the area of support at around the 40 level. If this level fails to hold then there is nothing...
BNB made a high against ETH on the 12th of April 2021 and then trended down until August. Since then there have been three attempts to break to new lows (yellow circles) that were unsuccessful. A consolidation range has followed but more recently we are seeing BNB quietly and discretely building strength over ETH. We are seeing a slowly rising RSI and can now see...
ETH is showing new strength over BTC. We can see in the chart that ETH has been in a consolidation phase with BTC since its high back in May of this year. If we see a break of this consolidation to the upside the measured move will take us all the way up to the 1.414 Fib level at 0.13 BTC. In relative terms that would mean if BTC were to double in value then ETH...
ETH is looking strong again. It retraced from its highs down to the 0.382 Fib level (around $4K) where it found support. It then rallied and came back to retest this level. After a successful retest price has moved confidently up to the short term down trend line where it is currently sitting as I write. There is a chance we could see another pullback from here,...
We had a more bullish night last night that has given us a solid green candle to light the fire of hope that the bottom is in. I advise caution however as there is more work to be done. There are a few positive signs that the bottom may be in, but it's not confirmed yet. RSI (yellow line bottom indicator) has just put in a higher low, while price was still in...
Beware the short term rally! Once again BTC has had a nice little rally over the last few days and everyone is getting excited about BTC going to $100K in December, or $135K, $260K or whatever.....and I'm sure we'll see those numbers in time. But hold your horses. We are still current;y in a short term downtrend on the daily chart. Yes, we have had a nice rally...
BTC, and the crypto market in general, have once again seen some steep declines. Legacy pricing models haven't broken but are being stretched like never before and I'm convinced it's entirely due to the arrival of institutions and big money to this space. Legacy markets (stock market etc) are closely regulated for price manipulation and financial institutions are...
There is not much between ETH and BTC at the moment but I currently hold a long term bias for ETH, but a short term bias for BTC. Long term ETH has been trending up against BTC but has now been in a consolidation triangle since the middle of May this year. ETHs recent short term uptrend has broken and BTC currently has the upper hand. I might note at this point...
Eth, like the rest of the market, took a bit of a hit last night but in true fashion has managed to hold above all support levels and within the current uptrend. There is still some weakness and uncertainty in the market since the DXY produced a stronger than expected chart over the last few days. Crypto markets and the DXY typically have a negative correlation...
BTC's break to a new all-time high was short-lived as sellers stepped in to spoil everybody's fun. A closer look at the chart reveals some RSI divergence and weak volume, both of which wasn't helping BTC's cause. Let's not get too stressed out yet though as BTC is still sitting pretty, even after a better than expected result for the DXY. This overnight pullback...
BNB is looking more interesting to me every day. Since it's "blowoff top" against ETH back in April of this year it's either been trending down or sideways. This may now be changing. BNB seems to be gaining strength over ETH and is looking to establish a new uptrend. Zooming into the 4hr and 1hr charts you can see this more clearly. There was some strong positive...
On face value it would appear that BTC has broken the short term downtrend against the market, but we need to pause and have a closer look. There is a good chance that this is just a small pull back from the trend before continuing down. I've used the 4hr chart today so it's easier to see what I'm talking about. There is a line of support and resistance (dashed...
While BTC has outshined ETH over the last day, I think it may be transient. While BTC is busy bumping up and down in a consolidation zone, ETH is out there continuing to make new all-time highs. Volume is still fairly low on both, but we are moving in the right direction and ETH is proving to be the unstoppable Juggernaut. For now, it's steady as she goes....
Well it was a strong day for BTC with two nice green candle in a row and Twitter is once again excited about the price going to .... well everyone has a number. But before we mortgage the house (and I acknowledge we are moving in the right direction), we should note that we are still inside the zone of consolidation and price action has not been enthusiastically...
This chart is primarily for indicating whether to weigh your portfolio in favour of ETH or BTC. I'm currently heavily weighted towards ETH, but recent price actions has me looking very closely at the chart. What we are looking at today is a clear break of the short term uptrend, combined with a crossover on the MACD 4C indicator. Both are typically nice sell...
For those of you who trade on Binance this chart is of more interest. With BTC, ETH and BNB being the major trading pairs on Binance it's good to understand which of the three is outperforming over time. While ETH has been outperforming both BTC and BNB for some time, over the last week we can see in this chart that the tables may be turning towards BNB. Both the...
ETH looks to be losing some strength against BTC today with price moving through our short term trendline. To early to make any changes though as our candle has not completed and ETH can easily forge a counter-attack when it sees what BTC is doing. Today we are still part of a consolidation that lies on a long term uptrend. Until we see clear evidence to the...
BTC continues to fall against the broader market. Price has now dropped below that central resistance line I mentioned previously, and we have a small green candle coming back up to it. This will most likely be a simple re-test before BTC moves lower. Trading into to ALTS has not been easy as they have been randomly pumping hard and then falling back. This market...