Get started

Mentoring

LTC/USD - Levels To WatchWhat's up traders, I hope you're having a great trading week. Here we are analyzing LTC/USD on the 4H chart. At present, price is trading at 113, currently in a down fall, after price consolidated for over 28 hours (Which is a very rare event for Cryptocurrency) and then broke to the downside. Price will likely continue the downfall until it finds some support. Price could test 2 support levels before the next bounce. Price could firstly support at 99.90 which would be a measure move of the previous swing leg. Alternatively, Litecoin could travel further down to a lower support at 87.50 which is the support at the side-wards support line, also coinciding with horizontal support. Due to the lower support being a multiple support level, it should be significantly stronger, and much more reliable. I will update this analysis when I receive above 40 likes.
BITFINEX:LTCUSD
by TomProTrader
7
BTC/USD - Confirming Buy OpportunityWhat's up traders, Here we are analyzing BTC/USD on the 4H chart. I posted a BTC/USD analysis lately, and the dynamics of the trade have changed now, hence I am eager to update this idea. At current, price is trading at 7110, supporting on the 20 moving average, and the 20 moving average is below the 50, suggesting a legitimate crossover move that will be inviting for bulls. Price will now likely test the moving averages and use them as a new support level. If not, there's a slightly lower level at 6440 (The previous swing low) where price could go before the up swing. This, with the fact we have a minor structure support , we could see price go to the upside target at 8890. I am expecting Bitcoin to come out of the down turn soon. And there is very early signs that the trend is changing. Bare in mind, thatI am predicting a longer term bull presence. I will update this analysis when I receive above 40 likes.
BITFINEX:BTCUSD
by TomProTrader
25
BTC/USD - Short Term Buy OpportunityWhat's up traders, Bitcoin has been tumbling. Bitcoin is very weak lately and has broken down harder than I believe a lot of people realized. So be nimble with your trades. Moving on, let's analyze a new possible buy opportunity on Bitcoin on the 1 hour chart! Bitcoin has began a short term recovery move today, moving up a clean 640 points (at the time of writing) and is now approaching a key horizontal resistance level at 7210. If price breaks above this level, it will begin a new up move which could see price go as high as 7840 in the short term, which would negate almost the entire crash down move we've experienced in recent days. Bare in mind that a retest on the side-wards resistance turned support at 6810 is a high possibility before hitting the resistance zone above. Bare in mind that this is SHORT TERM. This idea is NOT valid unless we break the 7210 level and test the old resistance as support. I will update this analysis when I receive above 40 likes.
BITFINEX:BTCUSD
by TomProTrader
31
ETH/USD - Buy OpportunityWhat's up traders, Let's now analyze Ethereum on the 4 hour chart! Ethereum is trading at 396 after finding a bottom, and offering higher lows since. Based on this being the lower predicted support I am hoping for an up move soon. As it stands, cryptocurrency has been struggling. However, the candlestick behaviour of Ethereum over the last 24 hours has been promising and this opportunity could give us a nice opportunity to buy. I am expecting Ethereum to have a small pop to the upside, but this is based on some conditions being met first. We need to see price break the consolidation resistance (as outlined on my chart) at 405, and retest the consolidation resistance as a new support before considering a trade. If price retests at 405 it is EXTREMELY likely that price will rise very nicely. This is entirely due to price not only retesting the consolidation resistance as a new support, but also there is a long term downtrend side-wards resistance line which will be tested as support at the exact same level. For this reason, 405 is the sweet spot we should all be watching for. Always remember, a trader who posts an analysis which is biased and goes wrong, is NOT trading properly. A biased sentiment is good, IF you have considered the other side of the trade, which a lot of the authors do not consider when making their analysis at all. Any professional trader should not be posting an analysis that goes the complete wrong way without them also mentioning a contingency. If they do this, they are NOT professional traders! If you charted like some do here in a bank, you would be sacked after 1 trade. Remember guys, trading is not magic nor alchemy. Trading is simply the act of trading what you see, and not what you think. Anyone saying otherwise is already thinking emotionally, and emotions in trading are NOT welcome for legitimate financial success! I will update this analysis when I receive above 40 likes.
BITFINEX:ETHUSD
by TomProTrader
11
BTC/USD - Critical Level For BullsWhat's up traders, Bitcoin has been tumbling. Bitcoin is very weak lately and has broken down harder than I believe a lot of people realized. When I say broken down harder, I don't mean the price movement itself, but rather the speed of the move. This has to be taken into account now when analyzing Bitcoin. I strongly advise you to be careful trading Cryptocurrency. Wait for a legitimate reversal before buying and DO NOT impulse buy. Moving on, let's now analyze Bitcoin on the 1 day chart! Bitcoin is trading at 6890 which corresponds perfectly with my previous Bitcoin analysis. Based on this being the lower predicted support I am hoping for an up move soon. As it stands, Bitcoin is in free fall and bulls are really struggling to find any spot to get into the market. We are now at a critical level, which is basically the bulls last chance for a victory. You will notice that my support zone is VERY wide. Why is this? Because I'm not a pinhead. I know Bitcoin is volatile, and my zone perfectly outlines EVERY support that could possibly happen within the entire area. IF the wide support zone breaks, Bitcoin could literally fall to the ground. Bare in mind that since I'm looking for such a wide zone, it's clear that I'm looking for no positions whatsoever at the moment. I will update this analysis when I receive above 40 likes.
BITFINEX:BTCUSD
by TomProTrader
17
XRP/USD - Short Term ForecastWhat's up traders, Here we are analyzing Ripple on the 8 hour chart. Ripple is trading at 0.5460 which is within the historical support zone. Based on this being the lower predicted support I am hoping for an up move soon. As it stands, Ripple, and most Cryptocurrencies are struggling. The candle behavior over the last 48 hours is showing signs of stress and volatility , and I think Ripple is under stress along with the rest of the Cryptocurrency market. I am expecting Ripple to have a move very soon, hopefully to the upside. I believe it will pick up some momentum soon and make a move to around 1.0610 eventually, but that does not necessarily mean it's going to happen now. Bare in mind if current support fails, there will be a down move before any new up move begins. Also bare in mind that my lower boundary is an EXTREME SCENARIO. And not likely to get this low, but this is an INDICATION. After the correction has finished. I will update my views on Ripple. At the moment, it's argumentatively neutral. I will update this analysis when I receive above 40 likes. Always remember, a trader who posts an analysis which is biased and goes wrong, is NOT trading properly. A biased sentiment is good, IF you have considered the other side of the trade, which a lot of the authors do not consider when making their analysis at all. Any professional trader should not be posting an analysis that goes the complete wrong way without them also mentioning a contingency. If they do this, they are NOT professional traders! If you charted like some do here in a bank, you would be sacked after 1 trade. Remember guys, trading is not magic nor alchemy. Trading is simply the act of trading what you see, and not what you think. Anyone saying otherwise is already thinking emotionally, and emotions in trading are NOT welcome for legitimate financial success!
BITFINEX:XRPUSD
by TomProTrader
6
BTC/USD - Trading OpportunitiesWhat's up traders, As you all will know, I have been keeping a very close on Bitcoin , and have been posting many analysis in relation to it. If you review my previous Bitcoin analysis (Find analysis in my related ideas) you can see we have perfectly predicted Bitcoins every move within the last few months. Always remember, a trader who posts an analysis which is biased and goes wrong, is NOT trading properly. A biased sentiment is good, IF you have considered the other side of the trade, which a lot of the authors do not consider when making their analysis at all. Any professional trader should not be posting an analysis that goes the complete wrong way without them also mentioning a contingency. If they do this, they are NOT professional traders! If you charted like some do here in a bank, you would be sacked after 1 trade. Remember guys, trading is not magic nor alchemy. Trading is simply the act of trading what you see, and not what you think. Anyone saying otherwise is already thinking emotionally, and emotions in trading are NOT welcome for legitimate financial success! Moving on, let's now analyze Bitcoin on a 4 hour chart! Bitcoin is trading at 7890 after finding support which I outlined in my previous Bitcoin analysis (See related ideas below for details). Based on this being the lower predicted support I am hoping for an up move soon. As it stands, Bitcoin is struggling. The candle behavior over the last 48 hours is showing signs of stress and volatility, and I think Bitcoin is going to have a rough and rainy month ahead. I am expecting Bitcoin to have a small pop to the upside. I believe it sill pick up some momentum soon and make a move to around 8390 and either have continued momentum to 9150, or hit the 8390 and lose momentum and once again retest horizontal support at 7900 before we get a new opportunity to buy. Bare in mind if current support fails, there will be a down move to around 6020 before the new up move begins. After the correction has finished. I will update my views on Bitcoin. As it stands my attitude has changed slightly for bull presence in the short term at least. I will update this analysis when I receive above 40 likes.
BITFINEX:BTCUSD
by TomProTrader
61
LTC/USD - Live UpdateWhat's up traders, I hope you're all having a great start to the trading week. Here we are analyzing LTC/USD on the 8H chart. Litecoin is trading at 141 after finding resistance from the 20 and the 50 moving average which are acting as strong resistance. Whilst price is below these averages it shows Litecoin is in a short term correction. Price has completed a down swing against the side-wards resistance at 170 on the 24th March. There's a horizontal support between 137 and 125 which price will fall to if 20 and 50 moving average resistance gets the better of price action. If price breaks below the first horizontal support, we should watch for a buy opportunity at the lower boundary of the trading cycle at 106. After the corrective move has finished, I am expecting the bulls to shove the market once again. Bare in mind, that a break below the horizontal support shows some significant weakness in Litecoin, and all other Cryptocurrencies in turn. I will update this analysis when I receive above 40 likes.
BITFINEX:LTCUSD
by TomProTrader
14
BTC/USD - Live UpdateWhat's up traders, Here we are analyzing BTC/USD on the 4H chart. As you all will know, we keep a very close on Bitcoin, and have been posting many analysis in relation to it. If you review my previous Bitcoin -0.36% analysis, you'll see we predicted the down move perfectly, and our trading plan on the pair is going exactly as planned. I congratulate everyone who has been following all my Bitcoin trades analysis recently, as we have made some serious profits! I'm glad to be your one stop shop for you all! Bitcoin is currently trading at 8416 after finding resistance from the 20 and converging 200 major moving average which are acting as resistance. which offered the signal that Bitcoin was going to take a short term correction. Price has completed a down swing against the side-wards resistance at 8690 which started the downside correction. There's a horizontal support between 8320 and 8180 which price will fall to if the major moving average resistance gets the better of price action. If price breaks below the first horizontal support, we should watch for a buy opportunity at the lower support zone between 7770 and 7630. After the corrective move has finished, I am expecting the bulls to shove the market once again. Bare in mind, that a retest is very good for creating a new position and even holding an old one if you're able to hold for longer term. And I'll also be an eager buyer when it hits one of these supports and acts in line with my rules for engaging this trade. I will update this analysis when I receive above 40 likes.
BITFINEX:BTCUSD
by TomProTrader
16
BTC/USD - Live UpdateWhat's up traders, Here we are analyzing BTC/USD on the 4H chart. As you all will know, we keep a very close on Bitcoin , and have been posting many analysis in relation to it. If you review my previous Bitcoin analysis, you'll see we predicted the down move perfectly, and our trading plan on the pair is going exactly as planned, along with our Ripple and Ethereum analysis we posted, which are also going exactly as we intended it to. I congratulate everyone who has been following all my Bitcoin trades analysis recently, as we have made some serious profits! I'm glad to be your one stop shop for you all! Bitcoin is currently trading at 9040 after bouncing perfectly on our side-wards support line at 7300 from our analysis (See my related for details of my original analysis) which offered the signal that Bitcoin was going to rise nicely. Price has completed the up swing we previously predicted. As it stands, there is now 2 support levels that could come into play. There is a minor consolidation support at 8270, and a horizontal support level at 7700 if the correction goes deeper. Price is likely to continue the correction to at least the levels mentioned on this chart, and I doubt buying on the swing is very smart as the stop loss would be wide. After the corrective move has finished, I am expecting the bulls to shove the market once again. Bare in mind, that a retest is very good for creating a new position and even holding an old position for the long term. And I'll also be an eager buyer when it hits one of these supports and acts in line with my rules for engaging this trade. I will update this analysis when I receive above 40 likes.
BITFINEX:BTCUSD
by TomProTrader
33
ETH/USD - Buy Opportunity IncomingWhat's up traders, We've had lots of success on our Cryptocurrency analysis lately, let's carry on! Here we are analyzing ETH/USD on the 4H chart. Ethereum is currently trading at 567 after bouncing perfectly on our side-wards support line at 552 from our analysis which offered the signal that Ethereum has potential to rise to rise nicely. Price has completed the up swing we previously predicted. As it stands, there is now 2 support levels that could come into play before the up move. There is the side-wards support line at 552 which could continue to stay in play. There is also a lower support zone at 455, which is where we will look for buy opportunities if the side-wards support fails to hold. Price is likely to continue the up move, where I recommend watching for buys at only the 2 levels above for the time being. Buying before seeing a sufficient retest on the side-wards support at 552 and a breakout is not an intelligent move. After the corrective move has finished, I am expecting the bulls to shove the market once again. Bare in mind, that a retest is very good for creating a new position, which is friendly for traders, and investors alike. I will update this analysis when I receive above 40 likes.
BITFINEX:ETHUSD
by TomProTrader
17
XRP/USD - Live UpdateWhat's up traders, Here we are analyzing XRP/USD on the 4H chart. As you all will know, we keep a very close on Cryptocurrencies, and have been posting many analysis in relation to it. If you review my previous analysis, you'll see we predicted the down move perfectly, and our trading plan on the pairs are going exactly as planned. I congratulate everyone who has been following all my Bitcoin -2.50% trades analysis especially recently. As we have made some serious profits! I'm glad to be your one stop shop for you all! Ripple is currently trading at 0.6260 after bouncing off the side-wards resistance line at 0.6810 from our analysis which offered the signal that Ripple was going to fall. Price completed the down move, and pulled back to a peak of 0.6520 before falling once again. As it stands, there is now 2 support levels that could become levels. There is a minor horizontal support at 0.5890, and a lower support at 0.5400. Price is likely to continue the correction to at least the levels mentioned on this chart, and I doubt buying on the swing is an intelligent idea at all as the trend is broken. After the corrective move has finished, I am expecting the bulls to shove the market once again. Bare in mind, that a retest is very good for creating a new position and even holding an old position for the long term. And I'll also be an eager buyer when it hits one of these supports and acts in line with my rules for engaging this trade. I will update this analysis when I receive above 40 likes.
BITFINEX:XRPUSD
by TomProTrader
4
BTC/USD - Buy OpportunityWhat's up traders, Here we are analyzing BTC/USD on the 1H chart. Bitcoin is currently trading at 8880 after perfectly following our previous analysis (See my related for details of my original analysis) which offered the signal that Bitcoin was going to rise nicely. Price has completed the up swing we previously predicted and is now correcting at 8650 in preparation for a new up move. As it stands, price will break 8890, closing above the side-ward resistance line and hit the upside target at 9360. Price is likely to continue the up move, and buying soon with the right setup is an intelligent idea After the up move has finished I am expecting some minor downside. Bare in mind, that the upside move will likely put Bitcoin in for a longer overall bull trend. I will update this analysis when I receive above 40 likes.
BITFINEX:BTCUSD
by TomProTrader
12
BTC/USD - Live UpdateWhat's up traders, Here we are analyzing BTC/USD on the 4H chart. As you all will know, we keep a very close on Bitcoin, and have been posting many analysis in relation to it. If you review my previous Bitcoin analysis, you'll see we predicted the down move perfectly, and our trading plan on the pair is going exactly as planned, along with our Ripple and Ethereum analysis we posted, which are also going exactly as we intended it to. I congratulate everyone who has been following all my Bitcoin analysis as of recent times, as you would have been in the right direction of the market every time. I am glad to be able to be a one stop shop for you guys and show you the true market conditions in my analysis! Bitcoin is currently trading at 7730 after a considerable free fall after a peak on 14th March at 9480 showed us a shooting star signal at resistance, giving the signal that Bitcoin was going to drop hard. Price is currently halfway into the corrective leg we previously predicted. As it stands, there is 2 support levels that can now come into play. We have a support at 7360, which is the long term side-wards support, and finally we have the horizontal support zone, which is at Bitcoins previous major low, at 6690. Price is likely to continue the correction to at least the levels mentioned on this chart, and I doubt buying before then is an intelligent idea at all. After the corrective move has finished, I am expecting the bulls to be buying in large quantity. I regularly get asked this question "Why would intelligent bulls ever, ever let price get so despondent before taking a buy position?" The reason is simple. Bitcoin is an asset that is so volatile, that intelligent bulls know that buying at the lows is the only intelligent option as to avert as much risk as possible by only taking the major lows. Anyone buying out of trend or out of play, is simply is not a good trader, and are taking severe risks unnecessary, due entirely to lack of patience. Have you ever noticed Bitcoin trends so well, then the first sign of bears there's a HUGE selloff? This goes back to the above, it's the intelligent "whale bears" closing out their positions quickly, as to not get stuck with a volatile asset. Remember always: Cut your losses short, and let your profits run. Bare in mind, that a retest is very good for creating a new position. And I'll also be an eager buyer when it hits one of these supports and acts in line with my rules for engaging this trade. I will update this analysis when I receive above 40 likes.
BITFINEX:BTCUSDLong
by TomProTrader
28
XRP/USD - Live UpdateWhat's up traders, Here we are analyzing XRP/USD on the 2H chart. As you all will know, we keep a very close on Ripple, and have been posting many analysis in relation to it. If you review my previous Ripple, you'll see we predicted the down move perfectly, and our trading plan on the pair is going exactly as planned, along with our Bitcoin and Ethereum -5.11% analysis we posted, which are also going exactly as we intended it to. I congratulate everyone who has been following all my Ripple analysis as of recent times, as you would have been in the right direction of the market every time. I am glad to be able to be a one stop shop for you guys and show you the true market conditions in my analysis! Ripple is currently trading at 0.6040 after a considerable free fall after a peak on 17th March at 0.6910 showed us a shooting star signal at resistance, giving the signal that Ripple was going to drop hard. Price has almost completed the move to the target previously predicted. As it stands, there is 2 support levels that can now come into play. We have a support at 0.5730, which is the horizontal support, and finally we have the horizontal support zone, which is Ripple's low at 0.4980. After the corrective move has finished, I am expecting the bulls to be buying in large quantity. Bare in mind, that a retest is very good for creating a new position. And I'll also be an eager buyer when it hits one of these supports and acts in line with my rules for engaging this trade. I will update this analysis when I receive above 40 likes.
BITFINEX:XRPUSD
by TomProTrader
2
LTC/USD - Buy Opportunity IncomingWhat's up traders, I hope you're all having a wonderful start to the weekend. Here we are analyzing LTC/USD on the 4H chart. As you all will know, we keep a very close on Litecoin, and have been posting many analysis in relation to it. Litecoin is currently trading at 162 after a corrective move began after a peak on 17th March at 171 showed us resistance at the 50 moving average, giving the signal that Litecoin was due for a drop. Price is currently halfway into the corrective leg we previously predicted Bitcoin and Ethereum already. As it stands, it looks like price is setting up for another flag pattern, within the larger flag pattern on the bigger time frame. Coincidentally, the target of the short term flag, also coincides with the target of the long term flag pattern, making the price target an excellent place to start watching for buy opportunities. Price has the possibility to bounce off the bottom of the short term flag structure at 162, but the probabilities all say DOWN. After the corrective move has finished, I am expecting the bulls to be buying in large quantity. Bare in mind, that a retest of the low support is a very good sign. Sooner these despondent lows from the crash finally finish, sooner Crypto will trend properly. I will update this analysis when I receive above 40 likes.
BITFINEX:LTCUSD
by TomProTrader
15
ETH/USD - Levels To WatchWhat's up traders, Here we are analyzing Ethereum on the 2H chart. At current price is trading at 690.90, nearly finding support on a side-wards support and 20 and 50 moving average resistance, suggesting a legitimate bearish presence. Price will now likely test the moving averages and use them as a new resistance level. Coupled with the fact we have the side-wards support that's weak and likely to become resistance, we could see price to downside target of 580. I am expecting Ethereum to lose some ground now as the trend is having a legitimate turn. Bare in mind, that I think Cryptocurrency will have an outstanding year, and I think Cryptocurrency as a whoel has the real possibility to outperform this year. I will update this analysis when I receive above 40 likes.
BITFINEX:ETHUSD
by TomProTrader
16
XRP/USD - Levels To WatchWhat's up traders, Here we are analyzing XRP/USD on the 8H chart. Continuing to keep a close eye on Ripple, price is currently within a flag structure after a bearish down leg has had a correction and formed consolidation at a peak of 0.8380, which found resistance on the 20 moving average. At current, price is trading at 0.7670 after a strong down move from the peak on 5th March. Price began a correction after hitting a low at 0.7360 and since then has gone side-wards. If price breaks the flag structure below 0.7610, then I am expecting price will have a breakdown to the next lower support level, and the measure move of the flag at at least 0,5390 before the next up move begins. Price has 2 support levels it can use for a bounce to the upside. First of all we have 0.7310, which is just below the flag breakout level and acts as the horizontal resistance. This itself is a reliable support IF price can find some momentum, in the form of reversal candlesticks . Secondly, we can keep an eye on the next horizontal support at 0.5310 for support Price could bounce to the upside before 0.5300 is achieved, if the overall Crypto markets condition improves. I will update this analysis when I receive above 40 likes.
BITFINEX:XRPUSD
by TomProTrader
6
BTC/USD - Fall Before The Rise!Hi traders, Back to the Crypto king, Bitcoin, let's analyze the chart! Bitcoin at present is trading within a corrective structure after a short term bearish impulse leg and has created a flag structure. At present price is at 9100, which is nearing the bottom of the flag breakout level at 8820. If price breaks below the flag structure it will confirm the flag pattern is in effect, and we can expect a 3 wave move down to the lower support zone at 6600 (Which ironically coincides with the previous price low after the Bitcoin price crash). Not only is the flag in play, but there is also a death cross which is ALSO acting as resistance! With a death cross of the major moving averages AND being used a physical resistance, this shows extreme danger of a massively weak technical downtrend! If the flag breaks out and the moving averages continue to be resistance and they create a death cross, Bitcoin will no doubt break down to the lower support level. Price may not break below the flag, and price could bounce, and find some upside. There's no downside confirm until the break of the flag. Only then the downside correction is intact. Thanks for reading!
BITFINEX:BTCUSD
by TomProTrader
14
ETH/USD - Buy OpportunityWhat's up traders, I hope you are all having a good start to the trading week. Here we are analyzing ETH/USD on the 8H chart. Continuing to keep a close eye on the entire Cryptocurrency market, as volatility continues to baffle trades across the spectrum. Price is currently trading at 734, after finding support at 658 with a double bottom pattern. At current, price is trading at 734 after finding the support. Price had previously been in a free fall correction since 5th March, before hitting reliable double bottom support which was the right time to catch the falling knife. Price will either break side-wards resistance at 795, then retest the side-wards resistance line as a new support before more up move. Or, price could hit side-wards resistance, have a small retracement to a minor support, before picking up the necessary momentum for the upside later. If the bottom of the horizontal support at 640 level is breached. I will be concerned for Ethereum's trend health, and we would need to reconsider our options. I will update this analysis when I receive above 40 likes.
BITFINEX:ETHUSDLong
by TomProTrader
9
BTC/USD - Live UpdateWhat's up traders, I hope you are all having a good start to the trading week. Here we are analyzing BTC/USD on the 1D chart. Continuing to keep a close eye on Bitcoin, price is currently in a free fall after hitting a side-wards resistance level at At current, price is trading at 8801 after a strong down move from the peak on 5th March. Price had a correction after hitting a horizontal resistance at 11610 and has continued downward since. We are now watching for the key levels in this down move, where we can seek a buy opportunity. Price has 2 support levels it can use for a bounce to the upside. First of all we have the 200 major moving average at 8770, which is around current levels. This itself is a reliable support IF price can find some momentum, in the form of reversal candlesticks. Secondly, we can keep an eye on the next horizontal support at 7100 for a bounce here. If the 7100 lower support boundary is breached, we could see lows to as low as 4490. I will update this analysis when I receive above 40 likes.
BITFINEX:BTCUSD
by TomProTrader
23
XRP/USD - Trading OpportunitiesWhat's up traders, straight into the analysis! Here we are analyzing XRP/USD on the 1D chart. We have been keeping a close eye on Ripple recently, as price peaked after a corrective move on 18th January 2018 at 1.6850. Since then, price has begun trading within a descending resistance structure. At current, price is trading at 0.7760, whilst approaching a very nice horizontal support structure. At the support zone, there is also potential for the 200 major moving average to be a support, which implies when price bounces into this zone, we could see a nice upside reversal to the highs. If price breaks at this major support, this would show some quite serious concern for Ripple, we breaking such a strong support would show a shattering weakness in the pair. Price will eventually pick up some momentum. Ripple needs to break the side-wards resistance structure at 0.9100, before any real upside pressure will be felt. If price breaks below the horizontal support at 0.7220, then it could break very low, into the major lows of 0.20 (although unlikely it's key to keep an open mind). Bare in mind, that a break below the first support is bad news. And Ripple will become enslaved into a technical downtrend where fundamentals could be shoved until the technicals "come into play". I will update this analysis when I receive above 40 likes.
BITFINEX:XRPUSD
by TomProTrader
24
ETH/USD - Levels To WatchWhat's up traders, I hope you are all having a good start to the trading week. Here we are analyzing ETH/USD on the 4H chart. Ethereum is currently in a downside correction move. Price recently has been trading within a descending structure, with the latest peak at 862, before a big breakdown. With this, there was also resistance found from the 200 and 50 moving average, which coincided very well with Ethereum, and even if Ethereum was strong itself, the technicals were no match when they are of this caliber. A resistance structure with an exact match with the major long term moving averages is a might resistance. Ethereum is currently trading at 780, which directly coincides with a horizontal support zone. Price may well find support here at this level and find some upside, which I would expect to hit the high point of the side-wards resistance line at 830, before hitting the major resistance again and likely breaking down to the lower support level of 580. Price may well hit the resistance at 830 and then come back into current support and find bullish momentum, but there would have to be a significant amount of bullish participation for this to happen. Price is likely to have a correction for the time being and remain weak. Price is at the mercy of very strong technicals, and this shall continue into the meantime. After the corrective move has finished, I am expecting Ethereum to find some upside, probably to the current support, which would turn resistance, at the current price of 780. Bare in mind, that a lower retest would actually be GOOD. Because resistance is so significant, any up moves are likely not real and will put people in costly bull traps. I will update this analysis when I receive above 40 likes.
BITFINEX:ETHUSD
by TomProTrader
6