At the borderline, with ETC. We've seen what an airdrop has done to other coins. The move is not certain. The yellow channel has been the lead since some weeks ago (again), but it looks like in the 4hr chart there is a Bearish Triangle in the move. BITFINEX:ETCUSD is oscillating on the conservative-uptrend channel, but it is compressing. If it keeps it's way in the channel, we can still expect for a bullrun before the ICO (DYOR, it doesn't have the same impact on every coin). If it falls from the channel again... The first support will be around 31 dlls (last bounce - fib).
As you can see, the green (upper) channel, which represents an optimistic uptrend, was the resistance in the last bullrun.
I'll update tomorrow.
Cyrptocurrency
BTCUSD: Are We Done Dropping?From the chart, we see that we breached the longterm trend line. It could be a sign that we are going further down in a few days, or that it was a false break down.
However, typically on the past 2 crashes, we were following with strong buying volume as pointed out by blue arrows. Today there was not much buying volume as i would like.
I wouldn't place any long orders until we are clear above 10k and above our long term trend line.
I will update this idea if i get 5 likes.
BTC, bear trend holdingOverview:
Short-term bear trend in the context of a longer-term bull trend.
Resistance @ 13000-13500
Support @ 10000
Symmetrical triangle (continuation signal) + falling volume.
Inside bar setup w/ false break (blue rectangle)
Keep an eye on which way the price breaks--above or below the triangle and inside bars.
Remember that we are in a bear trend. Trades counter to the trend are certainly possible...just more risky. BTC has a lot to prove before we can say that the bear-trend is no longer in valid.