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BTC ANAlYSES Inability to close the week under 7300$ level tells about possible deep correction of BTC. We still are inside the downtrend channel, but daily RSI is currently oversold and daily MACD is closing to 0 point from red zone, what give us a chance to try to enter the long position. First and the most serious resistance zone is around 7800$. If the price is able to break through this level and close under, we considering the possibility of continuing of local upward trend till next resistance around 8800-9000$. Additionally, the behavior of price between 6500-7300 looks like H&S pattern, what proofs our suspicious as for the increasing of the price. In case of failure to break the 7800$ level, most likely the price will go to test low at 6500$. Lucky trading and don't forget about risk management!
BITSTAMP:BTCUSD
by CRPTSCAN
1
Will Monero growth before the hard fork?Monero, both technically and fundamentally, looks like a good asset to consider buying it. . Fundamentally: A hard fork is expected at the end of November (November 30). Monero is going to activate an update in its blockchain aimed at increasing the privacy of RandomX users (the new Proof of Work algorithm). The transition to the new RandomX algorithm is aimed at solving one of the main problems of this cryptocurrency, namely hidden mining. . Technically: After the breakdown of the previously formed resistance level in the region of $ 58 / $ 60, we observe a nice price tightening, which in turn forms the figure of the technical analysis “Rising Triangle”. To all this, on the chart, sometimes increased volumes for purchases pop up. The RSI indicator cools slightly at the moment of preload, which gives freedom for further upward movement. . Bottom line: In the aggregate of the positive fundamental component, supported by technical analysis, which also speaks more for the continuation of the upward movement, it is worth taking a closer look at this asset now, but with a short stop order, or go into a true breakdown of the triangle with the first target in the region of $ 70, and the second in the area of $ 75, where the price is more likely to meet resistance from sellers, these levels coincide with the levels of 0.618 and 0.786 Fibonacci. Meanwhile the market depends upon the bitcoin`s movement: if bitcoin goes down sharply, then this triangle can be broken down.
BITFINEX:XMRUSD
by Neironix
Proyeccion Bitcoin conservadoraA peticion de mis seguidores en las redes pues les informo que no veo mucho desde el angulo grafico en el Bitcoin. Estamos en una zona peligrosa del precio, si bien el precio ha confirmado el soporte varias veces no podemos perder el contexto general del precio. Como les mostre en la oportunidad anterior en dicho caso el escenario era mas evidente. Sin embargo el lugar actual tiene dos puntos que no nos gustaria que el precio pierda si hemos de operar este escenario que se esta presentando actualmente, lo veran indicado en color rojo, podrian ser zonas de proteccion de la entrada. La proyeccion maxima esta definida en verticales verdes. Dicho esto mi opinion personal prefiero esperar una confirmacion de la fuerza del mercado que me de mayores indicios de que el precio ira en la direccion indicada ya que en el punto actual seria una entrada de riesgo moderado eso ya va de cada operador, como ya me conocen soy mas de proteger que de arriesgar. Recuerden que son solo proyecciones super conservadoras a corto plazo asi que hagan su tarea, saludos.
BITSTAMP:BTCUSDLong
by karlelmedia
Fly to the moon or down again?The price of many cryptocurrencies continues to go sideways. Ethereum approached the upper border of its price range. We see two paths of action: 1) Trade for a breakdown of the resistance level , set up buy orders by level and try to grab an impulse, if any; 2) Try short positions, open sales with a short stop order. We have a good bearish divergence on the RSI , and the Fibonacci level is 0.618 which is combined with a simple local resistance level from which the price has fought off several times already. In connection with this, we prefer the second option with a short position. It has a clear understanding of the ratio of risk to profit. And this is one of the main things in trading strategies to understand, and to build the most favorable risk to profit ratio.
BITSTAMP:ETHUSD
by Neironix
Ethereum's (ETH) price will retrace - Short ($140)Ethereum's (ETH) price tested the Weekly Candle Close in range of ($189 and $196). The Colored zone is playing the role of a strong resistance level that will stop the price growth and forced to retrace in a downward direction to find support to hold on. Fundamentally last two weeks Ethereum's (ETH) price dropped more than 25% for a short time. BTC had a drop of more than 17%, those kinds of numbers are speaking of a new bearish trend coming. As I said in the last Ethereum's (ETH) prediction a bearish trend is coming. Historically diversification towards smaller assets indicates a future drop. The last few days altcoins had a growth of 10% shortly. To me, this is can be read as a signal for future drop and manipulation for the masses. ETH will retrace one way or another probably making new lows. Negotiations between the USA and China are taking place in those days. If a consensus isn't reached the stock market will drop 6 to 7%. The snowball effect will affect the crypto market as well. This will give more bearish momentum to the situation we are in right now. In my opinion, there will be no deal between the USA and China at that current moment. Technically Ethereum finished Five Impulsive Waves, calculated by Elliot Waves Theory on 29 of August. Price retraced more than 35% forming a 2nd wave up to $223. That means by Elliot Waves Theory that most likely we are in 3rd wave. An aggressive drop should take place. Last few days we had a retracment to $194. The retracement formed an ABC corrective movement which is a bearish sign. Ethereum's (ETH) price tested the Weekly Candle Close in range of ($189 and $196). The Colored zone is playing the role of a strong resistance level that will stop the price growth and forced to retrace in a downward direction to find support to hold on. On the other hand, on a 4H time frame, an Over Sold - Relative Strength Index (RSI) can be spotted. It means that the drastic movement has to retrace cause Over Sold condition is a bearish indicator. Ethereum's price is testing a 200-candle exponential moving average (EMA) on a 6H time frame. If the price can't reach above $198 at that moment a retracement is inevitable. Conclusion Ethereum's (ETH) price will retrace to find a solid support level. Strong support zones are price levels at $140, $137 and $125. Good luck! "If everyone is thinking alike, then somebody isn't thinking."
Short
by Kairos-Alpha
3
#BTC just thinking out loud is in a bullish trend, respectively, the longer the price consolidates and does not decrease, the more likely it is that this correction will be completed as high and faster as possible. For example, with a bullish trend at 1W Time Frame, according to statistics, the price never fixed below the moving average MA-21 (false breakdowns are possible), and tomorrow this MA-21 will be oriented at the level of 9270. Associated factors for growth: bullish divergence also at 1w Time frame and declining volumes during the entire corrective movement Most likely there will be a false breakdown of this moving one, an additional large number of traders will confirm their assumptions in the movement of BTC to $ 7000-8000 and begin to enter Short, and after that their positions will be knocked out by a serious upward movement ...
by IgorPorokh
10