Bitcoin is showing strength against all other coins still previous weeks I talked about this reversal. Now the trend is with Bitcoin taking ground from the rest of the market. Sentiment will shift with some alt coins down over 50%. I am expecting this will escalate quickly. Summary aside here are the reason to look at. Weekly RSI entered over sold and...
Yesterday I posted about the Daily and Weekly chart. With BTCUSD going down but slower then other cryptocurrencies since yesterday we have seen some dominance gains buy Bitcoin. By watching both BTC.D and BTCUSD to get a picture is this a dump of the crypto market least felt by Bitcoin of a rally of Bitcoin the leads the market forward. Also price was clearly...
Daily struggling to get past 60.50. Weeks ahead looking painful for alt coins. 8 weeks price dominance has been stuck here. With MACD and RSI showing clear strength on the side of a Bitcoin vs Alts rally. Though I don't find Bitcoin as exciting or as interesting as many other current project. With Bitcoin still being the back bone of the industry you don't...
On the daily chart it appears there is a reversal happening and a breakout of previous wedge. Weakly timeline does not agree. Showing same old same old with downward movement in a tight wedge. Possible indication of people getting really excited before end of weak and then set straight on Sunday weekly candle closing.
The last low was September 18th 60.49. If that is broken then previously suggested rally for BTC.D would no longer make sense. Looking at this chart it appears there is a on very likely we are near a bottom. The candle wicks last 5 days seem to be showing we are hitting resistance. The range of that resistance seems to be 60.49-61. Still not seeing market...
Bitcoin is outpacing ETH on this short term trend. Watching for change in direction both here and on BTC.D.
No clear break out on UNI yet. Chart data is still very limited with the token not being out very long. MACD is very flat and Bolliger band fits nice in wedge.
No sign in change in direction with Bitcoin eating up market dominance.
I have drawn a wedge on the chart. I don't see really clear direction on this chart. The daily chart might be indicating a bottom have to watch weekly.
At the bottom of the post I have linked previous posts on silver. In hindsight I sold a bit early but why hate on profitable trades. Also risk management has to consider if leverage is involved in equation. Looking to paper trade these 4 positions none leveraged. Trying out different strategies. As a none paper trade I'd be looking to get in at $21 and...
On the chart I have marked support levels with red lines and resistance with green lines. As you can see on the chart price is currently in a wedge. We might not see a break out till next week.
Though this candle has not yet close. As 50 EMA was repeatedly acting as support as seen in my previous posts linked below. We need to see candles closing above 50 EMA to confirm.
Got to watch the 50 EMA not closing above it today would be another rejection at the 50 EMA on the daily chart. If the happens the likely hood of a retest of the weekly trend line is likely.
As we have reached a likely double bottom. I have drawn out comparing this bottom to the last bottom. Using Fib tool making historical assumptions. Not meant to be exact but rather to get a rough idea of where we could be going. The chart points to reaching new high at 61.8 fib level. Resistance right now is at 50 MA/ 0.236 Fib level. Looking at Bitcoin...
I have marked tests of support and resistance with white boxes on the chart. Looking at historic volatility we are clearly trending upwards. Looking at a longer historical time frame it appears there could be a relationship between increased volatility and decreased Bitcoin dominance.
Watching for a formation of double top on the daily chart. Weekly RSI is still over bought. MACD has not and might not change direction one reason to watch and not to short. 50 EMA is at $200 and it's likely price will return there as part of continuation of bull trend. Stoch RSI is already moving down. Close of market today will likely make it clear if...
With this position opening at $517. I think moving stop loss to $510 is best for risk management. I don't think this stock will close above $500 physiological level. With trailing stop loss placed this position should be fixed in profit. Both MACD and RSI look like this is just going to continue downwards.
Looking at this chart I see 5 weeks BTC.D won't break below 60 on the weekly. Looking at RSI it indicates a bottom. MACD is showing week after week weakening of this the pressure on the 60% support. Will this correction come with stock market correlation where bitcoin becomes crypto safe heaven and people get out of alts. Or is it the start of a Bitcoin rally...