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ETH-BTC

TrendTracers Weekly Market Analysis #7TrendTracers weekly analysis Review last week conclusion Last week’s conclusion still holds up. Bitcoin is more bearish and we profited off some shorts. BTC BTCUSDT is testing the HMA after a buy signal indicating a possible long but price is still in chop. Price is ranging and we broke slightly above resistance finding liquidity and dropping back down into the range. We will be more bullish when price breaks the 36500 level, where the EMA is. Beware taking longs here since price is still below the weekly baseline and within a range. BTC.D is still accumulating from the lows and hasn’t done much since last week. The chart is moving sideways but it’s definitely not altseason. So our advice is to stay out of altcoin longs. ETH Our bearish case from last weeks is playing out on ETHUSDT. Price broke down from the ascending triangle and we expect a drop into support between 1750 and 1400. Alternatively price can form a higher low here but to confirm it a bounce above 2300 is needed. If that is the case and our system prints a buy signal, we go long. ETHBTC is still within our triangle but it needs to reject the lower trendline soon. If this pattern plays out it will suggest a breakout to the upside, meaning a larger movement of Ethereum than Bitcoin. DXY, USDT We called a bottom on the DXY last month and it looks like we were right. DXY shot up 2.3 percent since then. A test to 93 is expected, if this level breaks there might be a global sell off across the markets. Let’s hope that the DXY will reject the 93 level. USDT.D is creeping up towards resistance. We are waiting on a rejection at 5.00 percent. Or we are forming a range here meaning some more upside for BTC on the downtrends. If USDT.D breaks resistance at 5.00 percent and stays above it for a couple of days then the crypto market will be very bearish. Conclusion The market is going sideways. On BTC we want to see 37k break or we want to see a liquidity grab around 28k and a quick wick up. Until then, sitting on your hands is still the thing to do. It has kept us safe during this chop. These are periods in the market where a lot of traders are losing. It’s best to wait for price to start trending again and when the trend is confirmed, act on it.
CRYPTOCAP:BTC.D
by dab1rd
ETH - Purple War Zone!Ethereum broke below 2500 ... WHAT NEXT? ETH is approaching our long-term red trendline acting as non-horizontal support. Moreover, the area 1950-2000 is a "Resistance turned into Support". So the highlighted purple circle with the blue arrow is a very strong area to look for buy setups as it is the intersection of support in green and lower red trendline. As per my trading style: I will be waiting for it to approach the highlighted purple circle (area) to look for possible buy setups (like a double bottom, trendline break , and so on...) Unless ETH breaks below the 2000 zone downward with a big daily candle, then the support would become resistance again. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BITSTAMP:ETHUSD
by TheSignalyst
52
Gold BanditsA long time ago, Gold - physical gold for that matter was in high demand. In recent years bitcoin has been talked about as the gold replacement, what do you think? Is there still value in gold? Think back when people would rush to the mountains, in search of gold! Usually the guys getting rich, where the ones selling the shovels. Similar in crypto today, exchanges, brokers and "information sites" are the new shovels! If we look at how respectful Gold can be, it's an awful lot easier to trade than most crypto currently. We can see from the last post, the fake out and mark down. If you look back at the previous calls - pretty much the same, out and out respect. We are currently looking at a DXY pullback (up) which will lower the gold price before a nice rally for Gold sets in. It would be good to get your opinions on Gold - BTC kill it off as we know it or will gold prevail? Have a good week! Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
FX:XAUUSD
by Mayfair_Ventures
4
Bells are ringing for ETHEREUMIts'a very critical time for ETHEREUM. We are at the risky zone to invest. The neckline of head-shoulder formation, and also MA100 level worked as a support correctly. On the otherhand, it reached the lower band of Bollinger as you can see in the graph. Now it's time to decide next moves. There are 2 cases: ETH will rise up ~2800 level while BTC hanging around 34~40 ETH will fall down ~2000 level then try to reach ~2600 while BTC hanging around 34~40. If sharp fall down is seen in BTC, this cases will be ignored. Regards, all the best luck
by WineRed