TheForecasters

TheForecasters

I personally think that this is a very large bearish pattern and we can see the end of ETH Bull Run quite soon. If it retests the top of this pattern and makes another lower high on the RSI it will come crashing down. On this chart alone we have 2 strong bearish signs. 1.) Bearish RSI Divergence. You can spot this by looking at the price which is making higher...

TheForecasters

ETH is making higher highs and higher lows and seems like it wants to move upward again. It has overcome some decent resistance around the 1660 dollar area and is now facing a major resistance at the 1725 - 1760 dollar area. If ETH manages to overcome this we will look for an entry once it comes back down and tests this level for support. Another good sign is...

TheForecasters

ETH/USDT We are laddering some orders for ETH as it has made a new higher high and this area it is coming down should act as proper support. Pros for this trade: ETH is once again looking bullish and can find proper support here at this level it is coming down to. Cons for this trade: If this support does not hold and ETH slips through we will be stopped out of...

TheForecasters

ETH is not looking much better and has also failed to make higher highs. We are expecting a jump around the 1430 dollar area which has acted as support so many times in the last few days. If this support fails we will look at getting into a trade with ETH. We have not been trading at all as we are waiting on confirmation of the market direction and at this moment...

TheForecasters

BTC has been unable to break out above the 52 000 dollar area and establish it as support. This is a sign of weakness for for BTC and has technically made a lower high on a higher time frame. I think we can start looking at BTC being in either a downtrend or to start ranging but I don't think we will see another ATH soon. BTC is currently ranging between this...

TheForecasters

ETH seems a bit more bearish for us at the moment. It is currently trading within a symmetrical triangle on the 15min TF which can break out either way. The reason we say it is more bearish is because ETH is underneath the green ichimoku cloud on the 4hr TF and it has also turned red. It is also trading inside the 1hr red ichimoku cloud and this is more bearish...

TheForecasters

BTC is currently trading in a small ascending triangle on the 30 min TF. This is a bullish sign for BTC as well as the fact that it seems to have found support on that 49 000 dollar zone. However on the 1hr BTC is trading within a red ichimoku cloud and the top of this cloud lines up almost perfectly with the resistance area at 51 000 dollars. What we would like...

TheForecasters

EOS is confirming bullish divergence on the daily chart and this can mean a massive reversal is about to take place. We will definitely be looking at entering some trades on EOS soon. We would like to see how it reacts to this resistance level up ahead and if it can overcome it. If it does this is where we will look for entries.

TheForecasters

Monero is making a very nice Head and Shoulders pattern here and it is converging with a downtrend line. A breakout upwards can be very rewarding and we are currently looking for a decent entry into XMR.

TheForecasters

ETH found really good support at an area we previously mentioned more than a week ago. the 1400 - 1430 dollar area. It even saw a beautiful second retest of this level on the 1hr candles and is now trading almost 15% higher from here. On the 4hr it is trading back inside the green ichimoku cloud and this can be a really good sign for ETH. It does however seem to...

TheForecasters

BTC is looking very weak and couldn't find support at the 49 000 dollar area. Instead it fell through this came back to retest this level and got rejected by resistance. A classic S/R flip (Support becomes Resistance once broken and vice versa). The next proper support for BTC is around the 41 000 dollar area and we wouldn't be surprised to see BTC come down to...

TheForecasters

ETH has created support around the 1430 dollar area which was to be expected as we saw decent resistance here. So an S/R flip means that ETH is at least following TA. We think that ETH can see a rejection at the 1630 dollar area which is the bottom of this parallel channel. If this does happen we will look at laddering some trades around the 1430 dollar area. This...

TheForecasters

ADA is currently testing what seems to be the bottom of a parallel channel and horizontal support. If this fails we can see ADA coming down to possibly test the 0.80 cent area. It also seems to be inside a symmetrical triangle and a break down to the bottom will be a very weak for ADA as this is very strong support. The reason being is that we can see...

TheForecasters Updated 

ETH is currently trading at the bottom of this 4hr channel that has been acting as support for almost 45 days now. However this time it seems weaker. ETH has come down into that 4hr green ichimoku cloud and has tested the bottom of this cloud twice in short timeframe. To us this indicates some weakness. ETH has come into the green cloud on this run before but...

TheForecasters

BTC and most major alts saw a massive dump yesterday. BTC came down to that support level we had placed earlier and had a big pullback but then it retested the parallel channel as resistance and got rejected. It is currently trading very close to this support area. Like we said we would like for BTC to establish proper support here before we look at entering a...

TheForecasters

ETH also made a new ATH above 2000 dollars but was also not able to establish any support is currently following BTC downwards. We can see here that ETH is still technically trading within this large parallel channel as the breakout did not last long. ETH will probably find some temporary support around the 1700 - 1720 dollar area. If ETH establishes proper...

TheForecasters

BTC has always had a massive retrace after its parabolic runs and here we can see they extend past 70% usually. BTC makes such massive highs in such a short amount of time that it has to establish support on the way down. If BTC has reached its ATH and this run is potentially over than we can most certainly see BTC below $20 000 again. If you look back at this...

TheForecasters

BTC saw a massive new ATH at 58 000 and wasn't able to find support above this level. We can see BTC has now broken a parallel trend and is trading within the green ichimoku on the 1hr cloud. We would like to see it overcome this cloud and retest it as support. At the moment we do think BTC can trade much lower and we will be looking for entries.