If 9k is the local, multi-monthly top, a retrace to 50 - 61.8% now would be perfect, TA-wise and historically-wise.
It would bring us back to the $6.1k - $6.7k level, which has proved to be a strong support in 2018 (even thouh we dipped much lower after).
Buying here looks ideal in the short term, so watch closely for a break of the blue trendline drawn...
It's all on the chart.
Levels drawn from fib retracement after late April surge. Seems interesting to identify buying / selling opportunities in the short/mid-term.
Currently setting at the 0.238 fib retracement.
$55-58 Attractive R:R for a long but still risky
$47-$50 Ideal supply zone
Short and long TP as drawn on the chart (support/resistance levels) so...
Buying now for short-term profit seems a bit risky.
The bulls might seem strong, but a correction is overdue after a month that has delivered $2k+ profit per BTC.
Beware of a false breakout like the 2 other times.
Trading Giant Bitfinex has been driving the price up these last days... You might answer it's just a "risk premium", yeah sure, but we all know...
Zcash has been kind of quiet lately, and to tell the truth I've almost forgotten to trade this coin myself in the past months. But the setup looks good for ZEC, both in a short and mid/long-term perspective.
RSI is approaching it's oversold level under 30 and ZEC has a reccurent history of bouncing from here. As you can see on the chart, in the past the RSI has...
Drawing the trendline since Dec lows and combining it with fib retracements on the daily chart, we can see that BTC might be poised for a retrace before jumping back to new yearly highs.
Indeed, the impulse from mid-december pushed the price by $1k+ in the span of a week (from $3280 to $4380), just like the impulse of April did with some extent. It then retraced...
Okay, bad joke, we all know that. More seriously, just drawing some fib retracements here after the pump of the beginning of April, in order to give some perspective on the levels to watch this week and what comes next.
During the last two weeks LTC has retraced to 0.382 fib level like a good boy. This level acts as a strong support on the 1h and 4h charts with 3...
