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Weeklynoobs

Eth noob forecast: Maybe not the best weekly betEth has been doing quite well lately showing strength when the kingbitcoin and all the cryptomarkets were falling. But im not confident that is the case today. If you look to the graph you may see a strong reaction to the 0.23 fib level. Also MACD and RSI are heading down and the momentum doesnt look really good as we have descending and low volumen. This week the forecast for eth is a expected sideways market between fib levels until volumen appears and indicators reset or go upwards. That said i have the feeling that btc will invalidate this analysis. As the market leader and with an uncommon downtrend in btc a reversal of this trend will imply major changes in the overall sentiment in crytpo markets. Feel free to comment, ask, share and criticize! ps. 4h chart seems to agree
by weeklynoobsforecast
4
Btc noobs weekly forecast. Maybe up.COINBASE:BTCUSD continues in an overall 2 months + downtrend. As i write this a low volumen attempt of breaking this downward trendline is taking place. A failed breakout could easily lead to a retest of the lowest low we've seen this year at the 6K, level probably trigering some fear in market participants, they key level for this is the 0.23fib level. Macd seems to be willing to cross to bullish territory son. RSI is above 50 and with lots of space before next high. Based on this 2 indicators and in the strenght of the donwtrend line in case of succesful breakout plus the fact btc bounced at the 0.23 fib level i would expect btc to break the horizontal resistance and previous local high around 11.1k and search a test of the 0.5 fib level or even de 0.61 level around 14k. (Note that you can see something similar to the pattern morning star but even more bullish that seems to be getting confirmed by the candle that is beeing printed right now. So this week, our btc weekly forecast points to a price target for next week around the blue box área in the graph, between 12k and 14k. Feel free to comment, correct or share any thoughts!
BITFINEX:BTCUSD
by weeklynoobsforecast