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ETC makes higher high, but still stuck in channel, like BitcoinI wanted to point out the channel that has been formed off of the (thus far) crypto bottom. Ethereum Classic has actually made a higher high in price, but found resistance at the top of its channel. Bitcoin is nearing the support of its channel, so really needs to see a bounce soon, and not fall below the channel. Also, ETC/BTC pair printed an 83+ on hourly RSI, and then could be forming a bearish divergence. Which conceivably gives ETC room to rest, and BTC room to bounce. Not giving a trade here, just wanted to point a few things out that I noticed to give a different perspective. Travis JMJ - UIOGD
KRAKEN:BTCUSD
by Procinctu
BTCUSD BitCoin on a Gann Fan patternCOINBASE:BTCUSD have been trading in a Gann Fan pattern. This could be constructed starting from the TrendLines highlighted in previous posts. After a Bearish trend it partially reversed it by breaking above the 1/2 angle and then the price rejected the resistance at the 1/3 angle. Moving the chart to better look into future price action (and hoping this won't be too confusing) the Gann Fan applied to the bullish tentative of the currency highlights how this hit the 1/2 angle of the ascending fan, to then fall again under the 1/1 angle. At present we can see that the price is now trading in a wedge between the 2/1 angle and a former horizontal Resistance. As wedges/triangles tend to break out approximately at 80% before the vertex, I would expect some action early next week.
COINBASE:BTCUSD
by AlbionTrader
1
Price and Indicator Analysis In this chart I used US 30 Year Treasuries weekly chart to explain how price and indicator analysis work. I cover the basis of divergences, pullbacks, throwbacks, and exhaustion spikes. Pullbacks (red) are seen when price and indicators such as RSI have diverged for a great length (wide divergence) or when you have weak divergence top comparing price and RSI. Throwbacks (blue) have the same effect, however show up when you have a bottom divergence or exhaustion spike. If you notice wide divergence tops or bottoms more than often develop a stagnant price pullback/throwback. This is important to understand for timing purposes with instruments such as options. When you have a weak major divergence top or bottom, there is usually a strong pullback/throwback occasionally surpassing the original price top / bottom. Exhaustion spikes often happen after strong pullbacks and pullbacks that price sideways for a long duration. Exhaustion spikes are difficult to call bottoms or tops because they can lead to large price moves. To find an exhaustion bottom it is best to look on a much smaller time frame for strong angle divergences. For TYX I am waiting to see a rapid price movement to the downside or a divergence signal with a lower bottom in price and a rising divergence indication.
T
by QuantitativeExhaustion
19