There's potentially falling wedge forming on 4h/daily with measured move up to 12,000. Volume has been decreasing and RSI is showing some bullish divergences.
Why this could play to the downside: - 12h Death cross (21 and 55 EMA) - Daily closing below 200 EMA and 200 SMA - Descending triangle hasn't reached its textbook target. First bearish targets: 7,250 to 5,400 . I'm bullish if we get above 8600, close daily above 200 EMA and 200 SMA. - Monthly already has had a bullish cross. - Potential hidden bullish...
We lost 0.5 Fib (8,500), so if 8,000 doesn't hold, my next target will be 7250 (0.618 fib retracement). It would be a great long opportunity there! Anyways, if we burst through that, next targets are 6,800 and 5400.
Breakout will be very soon! We've already got one 4hr bullish cross (21 and 55 EMA). If we are going to climb, look at these resistance levels that can turn into a support. If we go up over 12k, we will probably get new local highs.
Eth has a resistance from 183-186 . If 186 breaks again, we'll probably see more upside, maybe test of 190 to 200. Support is around 167 . Eth might be testing that again, if that doesn't hold, my next target will be 150 .
It's healthy to look at different possibilities. Feels like everyone is looking this as a descending triangle that will break to the downside. This can also be seen as a symmetrical triangle. If we get a textbook breakout, this could lead us up to about 17k . This is more probable if we are starting a new bullmarket here.
We aren't supported on 200EMA on 4 hour timeframe. There is also upper resistance right above us on that symmetrical triangle/descending triangle or whatever it'll be. If we are to break 11,000 resistance , we are likely to see 11,500. This isn't looking very bullish now as we can't stay above 200EMA on 4hr , so we won't probably see any major bullish...
Bitcoin is either forming a huge descending triangle or symmetrical triangle. Descending triangles more often break to the downside. Symmetrical triangles to the upside, especially in uptrends. We've been in a bullmarket, meaning that this will more probably be a symmetrical triangle breaking to the upside. This is confirmed bullish if we make a macro higher...
We have got a death cross on daily on ETH (50 EMA - Yellow and 200 EMA - Red). This often indicates pressure to the downside. Daily stochs are pointing to the downside as well. Looks like we are getting rejected from 0.618 Fib retracement too. If that is the case, first target is about 167 (Previous supports and resistances) 167 is the blue line. This...
Crypto Total Market Cap, Excluding Bitcoin (without bitcoin ) shows pretty well how is it going with altcoins. Fibs pulled from Dec 2018 to June 2019 we can see the retracements. We have tested the golden ratio once (0.618 fib) which held that time. We are testing it again. If 0.618 holds this second time aswell, this is looking good from bullish perspective...
If we get this daily close over 21 EMA (blue line), or above the MA Exp Ribbon, we will probably test the upper trend line (11,400-11,600) which could act as a resistance. Daily stochs and RSI are pointing to the upside which may shoot this to the upside. If we get rejected from this daily 21 EMA, my first target is 10,000. If that or 9,500 doesn't hold, we might...
Area from about 11,030-11,230 (Green box) is a previous resistance, now turned into support. We got rejected from the trend line (12300). As long as the price holds in the green box, we will probably test the 12,000 resistance again and possibly continue the bullrun. If we get rejected from the box and it turns into resistance, I'm looking for daily 21 EMA to...
We've been making lower highs and lower lows on weekly until now, we have made one higher low. That could signify that double bottom is in. But we have to remember that the trend has been down lately. If we are about to climb higher, there are major resistances ahead where to get rejected. (For example 11,00-11,200 and other highs on weekly) If we are going...
Next resistance area is logicly from about 11,000 - 11,200. There are major previous supports and resistances as you can see. Look at this area and wait for confirmations!
During the last bullrun The Relative Strength Index (RSI) has been above 50 and everytime we tested it, a support was found there. During the bearmarket, The RSI wasn't able to climb as high as 70 or 80. In the most cases, it tested a bit over 50 and then found a rejection. So 50 line worked as a resistance. ' Are we seeing another rejection from 50 levels now?...
We found a bounce from 9000 on daily. We are currently testing an old support that has now turned resistance. (Red box from about 10750-11150). Also 20 daily EMA (blue line) is in that box. Last few times we have tested it, we got rejected. If we are going to get rejected again from this box, my targets 8.5k to 7.2k are still in tact. In my opinion, this...