macroQuant

macroQuant

Resistance on $9.1k Support on the upward trend line

macroQuant

So from the ATM at ETHUSD, we got a Fibonacci 0.786 correction. Nevertheless, we need to be careful about the down trend line. Ethereum had a bigger correction than the market average and is not recovering so fast. We need to have in consideration the long term trend on Ethereum before jumping in. I will opt for ADAUSD at this moment.

macroQuant Updated 

The $400 level is a very good resistance turned support line. After this major correction on ETHUSD that we have seen in the past few weeks, I will buy ETHUSD for the long term, as a reward for the patience for not having bought when il fell below $1000.

macroQuant

With references for the Fibonnaci retracement on the low of the China crackdown news of 14-09-2017 and on the historic high of bitcoin, we can see that BTCUSD touched the retracement level of 78.6% as well as a very strong support trend line. Let's wait for a second test to this support trendline to bet on a bull market.

macroQuant

BTCUSD reached a support trend line. If it is broken, together with the death cross of the MA50 and MA200, we might see levels below 6k.

macroQuant Updated 

In the graph above we can see two vertical lines. The first represents 08/09, or 200 hundred days ago. The right one represents 02/02, or 50 days ago. This is very important to know what these two MOVING AVERAGES will do. And that is exactly what they do, they move. The lines represent the eldest days in which the closing values start to count. ---> Let's...

macroQuant

Please don't get excited with any green candles on the 1h or 4h charts. The bounce will only start above 10k. If you believe in it, at least wait for 9k.

macroQuant

The real test on the death cross is finally coming. The lower bound of the Bollinger Bands on the daily chart will play a vital role in this event. Should the lower limit not act as a support, the MA50 and MA200, will not only touch but cross. The result will be BTC going below 6k and the following hours.

macroQuant

According to market data from the last 200 days, if today BTCUSD closes at $8138.14, the MA50-day, being quicker than the MA200-day, will cross blow the latter, at around $9156.57. As of yesterday --> MA50 closing price: $9906.05 --> MA200 closing price: $9140.40 Source: Bitfinex daily closing prices

macroQuant

I would like to first thank Trading View foe the wonderful opportunity it is, to be ale to share ideas on this platform. I am very sure I will learn immensely with many trader who publish regularly here regularly. Concerning BTCUSD, it is safe to say that we can anticipate a big test in the coming few days, concerning the "death cross" of the 50MA and the 200MA,...