ZECBTC @ Poloniex
Updated
It is a little bit late for this post; but, here it goes!
For the actual moment 4HRs time-frame does not show entry opportunity for long positions. Moreover, we are on all time high (ATH) region, which means that higher price can be reject due to 'take profit positions' from market.
Taking a closed look on the chart above, which is based on divergences, it is possible to see that prices wants to form a possibility of REGULAR BULLISH according to MACD; however, MACD's fast length and RSI still showing bearish pressure from market.
Let's see who it develops from now on =)
For the actual moment 4HRs time-frame does not show entry opportunity for long positions. Moreover, we are on all time high (ATH) region, which means that higher price can be reject due to 'take profit positions' from market.
Taking a closed look on the chart above, which is based on divergences, it is possible to see that prices wants to form a possibility of REGULAR BULLISH according to MACD; however, MACD's fast length and RSI still showing bearish pressure from market.
Let's see who it develops from now on =)
Note
Based on kumo things does not look good for ZECBTC.Price has closed inside cloud + Kijun crossing below Tenkan, which suggest bearish trend, lagging-span is below price AND cloud, and BTC price is unstable again (SegWit proximity, maybe?).
It is importante to notice that we are having a possible Edge-To-Edge Cloud Strategy in formation due to flat kumo (Flat Kumo = Magnetic).
On the other hand, ZECBTC based on divergences and EMAs show the following:
Bolling Bands are tightening, which suggest accumulation of momentum.
RSI does not show any apparent divergence; however, its indicator shows that pessimistic pressure still playing the game.
MACD is showing possibility of regular bullish, which can be confirmed in case fast length cross slow length. As it did not happen until now, the better thing to is to wait a new position from market.
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