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Crypto-trading

Ethereum: Bullish Divergence and the True Bottom at $1000In spite of the bullish divergence, which gives a trend reversal signal, we have more than enough reasons to see the continuation of the bearish trend. Let’s look at the daily chart. We see a new attempt to update the local swing low by moving below the support area. If the bears succeed, it will give a strong bearish signal with the 1st target around $1450. I don’t think it will be the true bottom. We don’t have fundamental factors for the bullish crypto market in the nearest future. And I think we should be ready to see Ethereum at $1000. It is the matter of time. From TA point, the area between $1000 and $800 will be able to stop and reverse the bearish trend. IF Bitcoin reaches $14 000 - 10 000, Ethereum will reach that support as well. How to trade? I would be very careful with all long positions. Yes, the market can move upward for some time against the logic. But there is no much support for the bulls. I would wait for better prices and use DCA approach. And what do you think about the TOP alt coin? Please, share your thoughts about Ethereum in comments. I will be grateful if you support my work by smashing the LIKE button. Thanks for your attention!
by DLavrov
7
BTC/USD Daily TA Neutral BullishBTC/USD Daily TA neutral with a bullish bias. *SELL-OFF WATCH* . *For the first time in history, the DOJ charged former OpenSea Head of Product Nate Chastain for Insider Trading with NFTs while he was at OpenSea. That headline surely didn't go over well with the crypto community.* Recommended ratio: 51% BTC, 49% Cash. Price is currently retesting the 50/50 uptrend line from March 2017 at $29691 as support and risks flipping the bias bearish if it closes below $30k in today's session. Volume remains moderate (low) and is currently on track to break the four day streak of buyer dominance if it can close today in the red. Parabolic SAR flips bearish at $27500, this margin is neutral at the moment. RSI is currently testing the uptrend line from 01/22/22 at 42.41 support after being rejected by the descending trendline from January 2021 at 52. Stochastic crossed over bearish in today's session and is currently trending down at 83 as it approaches a retest of 77.95 support. MACD remains bullish and is beginning to form a peak at -1135; it is still technically testing -1435 resistance. ADX is currently trending down at 36 and is beginning to form a trough as Price fell back down below $30k, this is mildly bearish. If Price is able to bounce from the 50/50 uptrend line from March 2017 (~$29.6k) then it will have to close above $30507 in order to continue a rally and potentially retest the 50 MA at ~$34.5k. However, if Price breaks down below the 50/50 uptrend line then it will likely test $24180 minor support before potentially falling lower. Mental Stop Loss: (tight stop - one close below) $29186.
COINBASE:BTCUSD
by dailytaguy