Get started

Cryptoforecast

BTC Daily TA Neutral BullishBTCUSD Daily neutral with a bullish bias. Recommended ratio: 60% BTC, 40% Cash. *It's only 10:30pm in California right now so there's still a place in the world where I haven't missed a TA on 09/08/22. Today was just another day in 2022: Fed Chair Jerome Powell made it clear that 75bps are still on the table for 09/21 , SEC Chair Gary Gensler said that most cryptocurrencies are securities but that Bitcoin (and likely Ether) should be regulated by the Commodities and Futures Trading Commission, mortgage rates are at the highest since 2008 (5.95%) and Treasury Secretary Janet Yellen saying that the fall in gasoline brought headline inflation down in July and may do so again in August + that the US economy now is stronger than it was before the pandemic. Markets seemed to rally off of Yellen's comments, which brings the notion CPI may look good heading into midterms. Key Upcoming Dates: August CPI at 830am EST 09/13 ; The Merge (Ethereum) at 8am EST 09/14 ; FOMC meeting 09/20-09/21 (Statement Released at 2pm EST on 09/21).* Price is currently trending up at ~$20400 after bouncing off of $19417 support as it aims to test the uptrend line from 06/18/22 at ~$21k as resistance. Volume has shrunken for three consecutive sessions now and buyers for two, it is currently on track to both shrink and favor buyers again; if Volume shrinks again and Price continues rallying, this would be mildly bearish, but if Volume breaks out here along with Price this would be bullish. Parabolic SAR flips bearish at $18.6k, this margin is neutral at the moment. RSI is currently trending up at 48.5 after breaking above 42.41 resistance and the descending trendline from January 2021 at 45 (as resistance); the next resistance is at 57.34. Stochastic remains bullish for a second consecutive session and is currently testing 78 resistance. MACD is currently crossing over bullish at -689, if it can hold then it will likely test the next resistance is at 313. ADX is currently trending down at 26 as Price is rallying higher, this is neutral at the moment. If Price is able to continue higher, it will likely test the uptrend line from 06/18/22 at ~$21k as resistance before potentially testing the 50 MA at ~$22k as resistance . However, if Price breaks down here then it will likely retest $19417 support . Mental Stop Loss: (once close below) $19417.
COINBASE:BTCUSD
by dailytaguy
BTC Daily TA Neutral BearishBTCUSD Daily neutral with a bearish bias. Recommended ratio: 40% BTC, 60% Cash. *In the August Employment Situation, Nonfarm Payrolls increased by 315,000 and Unemployment finally bucked the 7 month trend of declining or staying flat by increasing .2% from 3.5% in July to 3.7% in August. Cryptos and Equities rallied off the news early in the session and are currently in the red. After almost 6 months of Federal Reserve intervention via hawkish monetary policy... the Unemployment Rate finally goes up a bit, this slightly strengthens the credibility of the Fed in proving that their demand side interventions are starting to be effective (even if it's slight). That said, FFR futures traders are still largely betting on a 75bps rate increase on 09/21. Cryptos still have a bit of bullishness leading up to Ethereum's 'The Merge' on 09/15, but it's quickly withering. CPI on 08/13 should help provide more guidance regarding what the FOMC will do on 09/21. Key Upcoming Dates: 6th Beige Book at 2pm EST 09/07; August CPI at 830am EST 09/13; FOMC meeting 09/20-09/21 (Statement Released at 2pm EST on 09/21).* Price is currently continuing to trend sideways at $20k psychological support for the seventh consecutive session. Volume is Moderate and on track to favor sellers in today's session if it closes today in the red. Parabolic SAR flips bullish at $21.4k, this margin is mildly bullish at the moment. RSI is currently trending down at 36 after forming a soft peak at 38; the next support is the uptrend line from 01/22/22 at ~30 while the next resistance is at 42. Stochastic remains bullish and is currently trending up at 59 with no signs of peak formation as it tests 55.55 resistance. MACD remains bearish and is currently continuing to form a trough at -747 as it hovers above -869 minor support; if it can break above -659 it would be a bullish crossover. ADX is currently trending up slightly at 24 as Price trends sideways, this is neutral at the moment. If Price is able to bounce here then it will likely test the uptrend line from 06/18/22 at ~$21k as resistance . However, if Price breaks down here, it will likely retest $19417 support ; if Price loses $19417 support then it will likely retest the uptrend line from March 2017 at ~$15k as support . Mental Stop Loss: (two consecutive closes above) $21k.
COINBASE:BTCUSD
by dailytaguy
Bitcoin | A Trend Reversal or a Trend Continuation Pattern?Bitcoin | A Trend Reversal or a Trend Continuation Pattern? Since the previous week when Powell spoke on "Jackson Hole Symposium" both Stocks and Crypto market are suffering losses. It looks like that bearish shadow is still covering the markets and the rumors for an interest rate hike from FED one ne next meeting is not helping the market at all to recover. We can see a very clear triangle pattern that can push the price in both direction. Details on the chart. Thank you and Good Luck!
by KlejdiCuni
11
WBT | WhiteBIT Token | Cup and Handle Pattern | Bullish VolumeWhat is WhiteBIT Token? WBT is a utility token of the largest European cryptocurrency exchange, WhiteBIT. The platform was established in 2018 and has already become one of the leading crypto exchanges with 3+ mln users worldwide. They launched their token on August 22 (this month). As the price is developing we can see that the first pattern that is taking shape on the 4 hour time frame is a "Cup and Handle Pattern". This is a bullish pattern now showing that the price has a very high potential for the next bullish wave. I am keeping conservative targets for the time being for the 3-rd wave development of the Elliot Wave but it can also extend up to the 5-the wave and to complete probably higher than the 5-th wave that I have pointed out on the chart. However considering the increase of the volume that the token should have, considering that it is very new, the price should rise faster during the coming days. Thank you and Good Luck! Types of Cup & Handle Pattern When The Cup & Handle Pattern is completed in a Bullish Trend it is classified as a "Bullish Trend Continuation Pattern" When The Cup & Handle Pattern is completed in a Bearish Trend it is classified as a "Bearish Trend Continuation Pattern" Targets A minimum profit target for this pattern is the measured distance between the bottom and top of the cup. This distance is added to the price in the sharing area. This is the minimum profit target that applies to this model and we should know that the price may also continue the movement of the major trend. For more details check the idea below: How is The Cup & Handle Pattern Formed And Traded?:
Long
by KlejdiCuni
18
BTC Daily TA Neutral BearishBTCUSD Daily neutral with a bearish bias. Recommended ratio: 40% BTC, 60% Cash. * Consumer Confidence broke a three month streak of declines and increased to 103.2 in August from 95.3 in July . This is another situation in which investors are left to choose between being bullish on financial markets (Risk-On in particular) due to a resilient economy which reflects a strong consumer, OR, bearish on financial markets due to a resilient economy which wills a more hawkish Fed. As of now Cryptos, US Treasuries and DXY are up while Equities, Commodities, Futures and VIX are either down or flat. Key Upcoming Dates: 9th GDPNow US Q3 GDP estimate at 10am EST 09/01 ; August Employment Situation 830am EST 09/02; August CPI at 830am EST 09/13.* Price is currently trending up at ~$19900 after bouncing off of $19417 support as it approaches a test of the uptrend line from 06/18/22 as resistance at ~$20900. Volume is High and on track to favor sellers if it can close today's session in the red, this would also make four out of the past five sessions seller dominant. Parabolic SAR flips bullish at $22285, this margin is neutral at the moment. RSI is currently trending down at 34.41 after peaking at 37, this is after bouncing off the uptrend line from 01/22/22 at 29 as support (which it may retest at ~30). Stochastic remains bullish for a second consecutive session and is currently trending up at 19, the next resistance is at 29.70. MACD remains bearish and is currently beginning to form a trough at -800 as it quickly approaches a test of -868.54 minor support. ADX is currently trending up slightly at 23 as Price is attempting to defend $19417 support, this is mildly bullish at the moment. If Price is able to keep going higher then it will likely test the uptrend line from 06/18/22 at ~$20900 as resistance . However, if Price breaks down here, it will likely retest $19417 support . Mental Stop Loss: (two consecutive closes above) $21k.
COINBASE:BTCUSD
by dailytaguy
ETH Daily TA Neutral BearishETHUSD Daily neutral with a bearish bias. Recommended ratio: 40% ETH, 60% Cash. *Big day for f**kery. Equities, Cryptos, US Treasuries, Precious Metals are all down while VIX, DXY, Commodities (aside from Precious Metals) are up. July PCE price index decreased by -0.1% from July , and was 6.3% higher than in July of 2021 (compared to 6.8% higher last month); both of these numbers reflect the effects of the White House tapping into SPR in July. The 8th GDPNow US Q3 GDP estimate came in today at +1.6% compared to +1.4% on 08/24/22. The UofM survey reported August consumer sentiment at 58.2 (compared to 51.5 in July) and a nearly 60% surge in year-ahead economic expectations from lows last seen in 2008-2010. Even though the economic data today was largely positive, it wasn't enough for Fed Chair Pow. He kept the hawkish rhetoric by emphasizing today at Jackson Hole that the Fed will be maintaining "restrictive monetary policy" until Core PCE drops meaningfully closer to their 2% target and that they won't hesitate to raise rates by another 75bps in September. To some bull's delight, he made mention that the Fed would have to eventually slow down rate hikes as the inflation situation improves (logically). The Merge is still scheduled for launch on Ethereum mainnet 09/15/22 . Key Upcoming Dates: August Consumer Confidence Index at 10am EST 08/30 ; 9th GDPNow US Q3 GDP estimate at 10am EST 09/01; August Employment Situation 830am EST 09/02.* Price was rejected by $1560 minor resistance and is currently on the verge of breaking below the uptrend line from 06/18/22 (~$1625) as it tests the 50 MA (~$1585) as support. Volume is High and fairly balanced between buyers and sellers in the past few sessions but is on track to favor sellers in today's session if it closes in the red. Parabolic SAR flips bullish at $1914, this margin is mildly bullish. RSI is currently trending down at 41 as it approaches a retest of the descending trendline from 07/17/22 at ~39 (this would likely coincide with a retest of 37 support). Stochastic crossed over bearish today after being rejected by 18 resistance and is currently trending down at 15; the next support is max bottom. MACD remains bearish and is currently trending down at -6 after a failed initial trough formation; the next support (minor) is at -46. ADX is currently trending sideways at 23 as Price is deciding on whether or not to break down out of the uptrend from 06/18/22, this is neutral at the moment. If Price is able to bounce here off of the 50 MA and reclaim the uptrend line from 06/18/22 as support at $~1640 , it will then have to break above $1711 minor resistance in order to retest $1941 resistance . However, if Price breaks down below the 50 MA, the next likely target is a retest of $1427 support . Mental Stop Loss: (two consecutive closes above) $1711.
COINBASE:ETHUSD
by dailytaguy
ETH Daily TA Neutral BearishETHUSD Daily neutral with a bearish bias. Recommended ratio: 40% ETH, 60% Cash. * S&P US August Manufacturing PMI fell to 51.3 (from 52.2 in July) , its lowest level since July 2020. Cryptos are seeing a continued rally from Sunday to start the week while Equities were mixed but stayed relatively flat. DXY took a dip while Treasuries are up, and both the VIX and Gold are up in anticipation for Q2 GDP and Jackson Hole later this week. The Merge is still on schedule for a 09/15/22 launch on Ethereum's Mainnet . Key Upcoming Dates: 7th GDPNow US Q3 Estimate at 830am EST 08/24 ; US Q2 Final GDP Estimate at 830am EST 08/25; US July PCE at 830am EST 08/26; UofM Final August Sentiment Survey Index at 10am EST 08/26; Jackson Hole Economic Symposium on 08/25-08/27 (Fed Chair Jerome Powell scheduled to speak on 08/26).* Price is currently trending up at $1650 and briefly touched $1711 minor resistance as it continues to defend the 50 MA + the uptrend line from 06/18/22 as support at ~$1550. Volume is High and on track to favor buyers in three consecutive sessions while defending the 50 MA, this is bullish and hints that The Merge rally isn't over. Parabolic SAR flips bullish at $1969, this margin is mildly bullish. RSI is currently trending up at 47 after bouncing at 42, the next resistance is the descending trendline from February 2020 at 54 (which would likely coincide with 55.31 resistance). Stochastic remains bullish for a second consecutive session and is currently trending up at 14; the next resistance is at 18. MACD remains bearish and is currently trending down with no sign of trough formation; it is still technically testing 28 support. ADX is currently trending down at 26 with no sign of trough formation as Price is attempting to push higher, this is mildly bearish at the moment. If Price is able to break above $1711 minor resistance , the next likely target is a retest of $1941 resistance . However, if Price is rejected at $1711 minor resistance, it will likely retest the 50 MA + the uptrend line from 06/18/22 at ~$1550 as support before potentially retesting $1427 support . Mental Stop Loss: (two consecutive closes above) $1711.
COINBASE:ETHUSD
by dailytaguy
BTC Daily TA Neutral BearishBTCUSD Daily neutral with a bearish bias. Recommended ratio: 40% BTC, 60% Cash. *Cryptos are seeing some bullish relief in today's session after a continued sell-off throughout most of the weekend; if Futures (Equities) start the week bullish then this could carry over into Cryptos. Key Upcoming Dates: S&P US August PMI at 945am EST 08/23 ; US Q2 Final GDP Estimate at 830am EST 08/25; US July PCE at 830am EST 08/26; UofM Final August Sentiment Survey Index at 10am EST 08/26; Jackson Hole Economic Symposium on 08/25-08/27.* Price is currently trending up at $21.4k after bouncing off of the uptrend line from 06/18/22 at ~$20.7k; the next resistance is the 50MA at ~$22.3k (which it broke below on 08/19/22). Volume remains Moderate and is on track to favor buyers for a second consecutive session. Parabolic SAR flips bullish at $24783, this margin is mildly bullish. RSI is currently trending up at 40 as it approaches 42.41 resistance. Stochastic crossed over bullish in today's session and is currently trending up at 12, the next resistance is at 30. MACD remains bearish and is currently testing -232 minor support with no signs of trough formation. ADX is currently trending sideways at 21 as Price attempts to find support, this is neutral at the moment. If Price is able to continue this bounce then it will likely test the 50MA as resistance at ~$22.3k . However, if Price breaks down here, it will likely retest the uptrend line from 06/18/22 at ~$20.8k as support before potentially retesting $19417 major support . Mental Stop Loss: (two consecutive closes above) $22.3k.
COINBASE:BTCUSD
by dailytaguy
ETH Daily TA Cautiously BearishETHUSD Daily cautiously bearish. Recommended ratio: 25% ETH, 75% Cash. *Cryptos are continuing to sell off into the weekend as investors flee to DXY and US Treasuries amidst renewed global recession fears. The Merge is still scheduled for launch on Ethereum's Mainnet on 09/15/22 . Key Upcoming Dates: S&P US August PMI at 945am EST 08/23; US Q2 Final GDP Estimate at 830am EST 08/25; US July PCE at 830am EST 08/26; UofM Final August Sentiment Survey Index at 10am EST 08/26; Jackson Hole Economic Symposium on 08/25-08/27.* Price is currently trending down at ~$1575 as it approaches a test of the 50 MA as support at ~$1530 (which would coincide with the uptrend line from 06/18/22). Volume remains Moderate (high) and is on track for a second consecutive day of seller dominance if it closes today's session in the red. Parabolic SAR flips bullish at ~$2000, this margin is mildly bullish. RSI has broken through three critical supports and is currently trending down at 40 as it approaches 37 support. Stochastic remains bearish and is currently testing max bottom. MACD remains bearish and is currently trending down at 50 as it approaches 28 support. ADX is currently trending down at 30 as Price continues to fall, this is neutral at the moment. If Price is able to bounce here then it will likely test $1711 minor resistance . However, if Price continues to break down here, it will likely test the 50 MA at ~$1530 as support which would likely coincide with the uptrend line from 06/18/22 at ~$1500 as support . Mental Stop Loss: (one close above) $1711.
COINBASE:ETHUSD
by dailytaguy
Bitcoin Scalping Signal for Day Trading🖥️ We have determined there is a 70% chance Bitcoin will RISE from our current entry point. 📈 LONG BTC - Entry Price : $22,800 📈 💵 Length of trade: we are expecting BTC to hit a $500 scalp, with a high end of $800, and a minimum expectation of $300. 🕰️ Duration of trade: we are expecting this to occur after 4 hours of this signal, with a maximum duration of 9.5 hours (for the expected profit target); with continuing to 32 hours, if positive momentum extends post market close, into the weekend for breaching the high end target, and above. OUR Last 2 Signals were disappointing... the last was shortly in $100 profit, so at best a minor gain - the one prior to that was a $300 stop-loss hit. We are here with you, putting our personal money down for every signal. Our resolve is with keep the strength of these signals.
Long
by VirlVideo
2
BTC Daily TA Cautiously BearishBTCUSD Daily cautiously bearish. Recommended ratio: 35% BTC, 65% Cash. *This bearish week was marked by degrading economic data from China, Germany and the USA, stoking global recession fears once again. China is currently seeing a weaker consumer (due to still ongoing effects of the Covid lockdowns), heat waves affecting factories, a weakening property sector (in need of infrastructural support) and slower export growth as a result of the massive global supply chain restructuring currently taking place. Germany is still reeling from sanctions and interruptions regarding the Nord Stream Pipeline as they prepare for a energy shortage this winter while the Rhine River is reportedly seeing a drought that has affected their ability to load barges to full capacity, adding to the economic growth woes they are likely to face for the remainder of the year. Meanwhile, the USA remains committed to tightening further and raising central bank interest rates beyond neutral as the US Housing and Credit market begins to show signs of weakness; this has led to a drop in the forecast for Q3 GDP. Though bearish at the moment, the uptrend in Bitcoin remains supported as long as it stays above $20k psychological support (also the uptrend line from 06/18/22). Key Upcoming Dates: S&P US August PMI at 945am EST 08/23; US Q2 Final GDP Estimate at 830am EST 08/25; US July PCE at 830am EST 08/26; UofM Final August Sentiment Survey Index at 10am EST 08/26; Jackson Hole Economic Symposium on 08/25-08/27.* Price is currently testing the 50 MA as support at ~$22k after being rejected by $24181 minor resistance for the third time since 07/20/22. Volume remains Moderate and is on track to favor sellers for six consecutive days if it can close today's session in the red. Parabolic SAR flips bullish at $25.2k, this margin is neutral at the moment. RSI has broken below 3 supports in one fall and is currently trending down at 36 with no signs of trough formation as it still technically tests 42.41 support. Stochastic is currently testing max bottom and is beginning to form a soft trough. MACD is on day two of being bearish and is currently testing 313 support. ADX is currently trending down slightly at 20 as Price falls, this is neutral at the moment. If Price is able to bounce off of the 50 MA at ~$22k as support then the next likely target is a retest of $24181 minor resistance . However, if Price continues to break down here, it will likely retest the uptrend line from 06/18/22 as support at ~$20k psychological support . Mental Stop Loss: (two consecutive closes above) the 50 MA (~$22k).
COINBASE:BTCUSD
by dailytaguy
BTC Daily Update - Local bottom appeared⭐️Today in half an hour BTC futures on CME will expire. Strike price was near 25k. And this expiration is exactly the reason why BTC has fallen so much. ⭐️At the bottom we see sign of trend reversal - big volume ⭐️Right now it's better to wait. We need to accumulate power before rising back. ⭐️On the chart you can see trendline that will act as resistance for the near future. When we will squeeze to it, it will be good idea to look for bullish patterns. What do you think of this idea? What is your opinion? Share it in the comments📄🖌 If you like the idea, please give it a like. This is the best "Thank you!" for the author 😊 P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself
by Artem_Dishel
5
BTC Daily TA Cautiously BullishBTCUSD Daily cautiously bullish. Recommended ratio: 75% BTC, 25% Cash . *July US Housing Starts are down -9.5% from June (compared to -2.5% consensus estimates); July US Building Permits are down -1.3% from June but are up 1.1% from June of 2021. The big miss on Housing Starts is reflective of recessionary fears and rising interest rates hindering people from wanting to commit to a mortgage right now. The 5th GDPNow US Q3 GDP estimate is 1.8% , down from 2.5% in the 4th estimate on 08/10. Major cryptos continue to lag behind Equities while altcoins are seeing a majority of the gains recently, which begs the question of wen BTC? Treasuries, Equities and Crypto are up and DXY, Gold, Commodities (aside from Nat Gas) are flat or down. Key dates this week: US Retail Sales at 830am EST 08/17 ; FOMC Minutes 2pm EST 08/17 .* Price is currently testing $24180 minor support after briefly testing the lower trendline of the Ascending Triangle from 07/18/22 at $23.5k as support, the Ascending Triangle formation is still valid. Volume remains Moderate and is on track to favor sellers if it closes today's session in the red. Parabolic SAR flips bearish at $22.8k, this margin is mildly bearish at the moment. RSI is currently testing the uptrend line from 06/18 at 54; and though it appears far at the moment, it's still technically testing the 50/50 uptrend line from November 2018 + 57.34 support. Stochastic remains bearish and is currently trending down at 62 with no signs of trough formation, the next support is at 55.55; it's also still technically testing 78 support but is on the verge of losing it if the D% line falls below 78 (it is currently at 78.5). MACD remains bullish and is currently trending down at 490, if it crosses below 470 it would be a bearish crossover. ADX is currently trending sideways at 22 as Price continues to see selling pressure, this is neutral at the moment. If Price is able to break (and close) above $24180 resistance , the next likely target is a retest of the descending trendline from November 2021 at $27k-$28k as resistance . However, if Price breaks below the lower trendline of the Ascending Triangle from 07/18 at $23.5k as support then it will likely retest the 50 MA at ~$22.2k as support before potentially retesting the uptrend line from 06/18/22 at $20k psychological support. Mental Stop Loss: (two consecutive closes below) $23.5k.
COINBASE:BTCUSD
by dailytaguy
ETH Daily TA Neutral BearishETHUSD Daily neutral with a bearish bias. Recommended ratio: 47% ETH, 53% Cash . * The PBOC (Central Bank of China) cut key lending rates for a second time this year (to the surprise of many) in response to weak economic data (worsening July credit, retail, industrial and property sector data) that projects China to miss its first GDP growth estimate since 2015. Considering the impact of China's economy on the global scale, fears of a pending global recession were renewed. In unequivocally abnormal 2022 fashion, this sent Cryptos, Commodities and Treasuries down and Equities, VIX and DXY up. The Merge is still scheduled for a 09/15/22 launch on Ethereum's Mainnet . Key dates this week: US Housing Starts and Building Permits at 830am EST 08/16; 5th GDPNow US Q3 GDP estimate at 915am EST 08/16 ; US Retail Sales at 830am EST 08/17; FOMC Minutes 2pm EST 08/17.* Price is currently trending down at ~$1900 and is still technically testing $1941 support. Volume is High and on track to favor sellers for a second consecutive session if it can close today in the red, this large of Volume is reflective of recessionary fears driving investors back out of Crypto. Parabolic SAR flips bearish at $1711 minor support, this margin is neutral at the moment. RSI is currently trending down at 63.41 after breaking below the uptrend line from 06/18/22 at 69, if it is unable to bounce here it will likely lose support of the uptrend line from 06/18/22 and potentially retest the next support at 55 (which coincides with the descending trendline from February 2020). Stochastic remains bearish and is currently trending down at 70 while still technically testing 81 support. MACD remains bullish and is currently trending down at 124 after forming a soft peak just below the upper trendline of the descending channel from August 2021 at 128 (resistance). ADX is currently trending sideways at 33 as Price is falling below $1941 support, this is neutral at the moment. If Price is able to bounce here and close back above $1941 support, the next likely target is a test of the 50/50 uptrend line from February 2017 at ~$2200 (which will likely coincide with the 200 MA) as resistance. However, if Price continues to break down and closes below $1941 support in two back to back sessions, it will have a bit of support at $1850 before potentially retesting $1711 minor support . Mental Stop Loss: (close above) $1941.
COINBASE:ETHUSD
by dailytaguy
GMT - Awesome coin for spot, very bullish📈🔥GMT is sexy because: ⭐️ Market is bullish ⭐️ Accumulation is 77 days ⭐️ We are in the end of formation ⭐️ We trapped a lot of bears ⭐️ Had false breakout ⭐️ Formed local level ⭐️ Over VWAP I already bought this coin on spot and expecting nice profit from it. Also, I will try to enter with small stoploss on futures when we will be near the trendline. Remember to fix profit by parts! What do you think of this idea? What is your opinion? Share it in the comments📄🖌 If you like the idea, please give it a like. This is the best "Thank you!" for the author 😊
Long
by Artem_Dishel
8
Ethereum forecast / Signal updateAs you can see, the price entered a neutral channel since last night. Now we see two paths for the price, ascending and descending depending on the conditions (it is 50-50). If the resistance breaks at the top of the channel and the break is confirmed, it will continue to move bullish. In case of failure of support at the bottom of the channel, the direction will be changed and bearish. The probability is 50-50 in terms of technical analysis, but in terms of fundamentals and of course the volume of buyers, I think it is 60% bullish.
by Arash-RK
BTC Daily TA Cautiously BullishBTCUSD Daily cautiously bullish. Recommended ratio: 70% BTC, 30% Cash. * WEEKEND RALLY WATCH . San Francisco Fed President Mary Daly reiterated today that though inflation is coming down they still have a long way to go before bringing Core PCE down to the Fed's 2% target; she also stated that her base case for September 21st is a 50bps rate hike and that she sees the EOY FFR being just under 3.5%. Richmond Fed President Thomas Barkin mentioned today that until the Fed sees a sustained period of inflation under control (by seeing 'real' borrowing costs move above zero), that they will have to continue raising FFR into 'restrictive territory'. As expected, they will be watching July PCE numbers on 08/26, the August Employment Situation on 09/02, August CPI on 09/13 and August PPI on 09/14 before the big decision on 09/21. After announcing a partnership with Coinbase last week, BlackRock (the world's largest asset manager) announced yesterday that they would be opening a private trust to provide institutional clients with direct exposure to Bitcoin. Key dates next week: US Housing Starts and Building Permits at 830am EST 08/16; 5th GDPNow US Q3 GDP estimate at 915am EST 08/16 ; US Retail Sales at 830am EST 08/17.* Price is currently attempting to break above $24180 minor resistance; breaking above this level would confirm an Ascending Triangle breakout which would likely take Price to $27-28k (which coincides with the descending trendline from November 2021). Volume remains Moderate and fairly balanced between buyer and seller dominance recently, indicative of a consolidative period before moving higher. Parabolic SAR flips bearish at $22750, this margin is neutral at the moment. RSI is currently trending up at 60 as it attempts to reclaim support at the 50/50 uptrend line from November 2018 and flip 57 resistance to support as well. Stochastic remains bullish for a second consecutive session and is currently trending up at 87 with no signs of peak formation as it attempts to flip 78 resistance to support. MACD remains bullish and is trending up slightly at 474 but risks reverting to a bearish crossover at 375 the more that it trends sideways; it's currently hovering just above 313 support and the next resistance is at 890. ADX is currently trending up slightly at 20 as Price continues to attempt to break above $24180 minor resistance, this is mildly bullish. If Price is able to breakout above $24180 minor resistance and turn it to support, it will likely test the Ascending Triangle breakout target of ~$28k as resistance which should coincide with the descending trendline from November 2021. However, if Price is rejected here then it will likely retest the lower trendline of the Ascending Triangle at $27k as support before potentially falling lower to retest the uptrend line from 06/18/22 at $20k psychological support . Mental Stop Loss: (one close below) $22.5k.
COINBASE:BTCUSD
by dailytaguy
BTC Daily TA BullishBTCUSD Daily bullish. Recommended ratio: 90% BTC, 10% Cash . * SUNDAY/MONDAY SCARIES WATCH . Cryptos are enjoying a mixed weekend with altcoins getting most of the gains while BTC and ETH stay relatively flat. The Sunday/Monday volatility seems to be rather tempered this weekend and it's reasonable to expect for more bullishness if Futures open green at 5pm today. Key dates this week: US Housing Starts and Building Permits at 830am EST 08/16; 5th GDPNow US Q3 GDP estimate at 915am EST 08/16 ; US Retail Sales at 830am EST 08/17; FOMC Minutes 2pm EST 08/17 .* Price is currently breaking out above $24180 minor resistance after closing above it for the second consecutive session, the Ascending Triangle breakout is currently in play. Volume remains Moderate and is on track to favor buyers for a third consecutive session if it can close today's session in the green; this in conjunction with the attempted breakout is bullish. Parabolic SAR flips bearish at $22.7k, this margin is neutral at the moment. RSI is currently trending up slightly at 63 after reclaiming support of the 50/50 uptrend line from November 2018 at 58 and flipping 57 resistance to support; the next resistance is at 70. Stochastic remains bullish and is currently on the verge of testing max top. MACD remains bullish and continues trending up slightly at 580, the next resistance is at 890. ADX is currently trending up at 22 as Price is attempting to breakout of the Ascending Triangle, this is mildly bullish. If Price is able to continue up here, the next likely target is the Ascending Triangle breakout target of ~$28k as resistance which coincides with the descending trendline from November 2021. However, if Price breaks back down below $24180, it will likely retest the lower trendline of the Ascending Triangle at ~$23k as support before potentially falling lower to retest the uptrend line from 06/18/22 at $20k psychological support . Mental Stop Loss: (one close below) $22.5k .
COINBASE:BTCUSD
by dailytaguy
ETH Daily TA Cautiously BullishETHUSD Daily cautiously bullish. Recommended ratio: 65% ETH, 35% Cash . * SUNDAY/MONDAY SCARIES WATCH . Cryptos are enjoying a weekend rally as more Risk-On investors shake off inflation and rate hike concerns while continuing to jump back into markets. However, several major cryptos are currently testing critical resistances so we may see some volatility at these levels over the next couple of sessions. The merge is estimated to be launched on Ethereum's Mainnet ~09/15/22 . As always during weekend rallies, be wary of a potential Sunday/Monday sell off heading into a relatively tame week. Key dates next week: US Housing Starts and Building Permits at 830am EST 08/16; 5th GDPNow US Q3 GDP estimate at 915am EST 08/16; US Retail Sales at 830am EST 08/17.* Price is currently testing $2k psychological support and is still technically testing $1941 resistance; if it can close above $1941 in today and tomorrow's session it will confirm a flip to support. Volume is Moderate and currently on track to favor buyers for four consecutive sessions (seven of the past ten sessions have been buyer dominant). Parabolic SAR flips bearish at $1574, this margin is mildly bearish (20%+). RSI has reclaimed the uptrend line from 06/18 as support at ~67 and is currently testing the 50/50 uptrend line from November 2018 at ~72 as resistance; the next resistance is at 77. Stochastic remains bullish and is currently testing max top. MACD remains bullish and is currently trending up at 124 with no signs of peak formation as it approaches a retest of the descending trendline from November 2021 at ~137. ADX is currently trending up at 32 as Price continues to trend up, this is bullish. If Price is able to close above $1941 in both today and tomorrow's session, then the next likely target is a retest of the 50/50 uptrend line from February 2017 which should coincide with the 200 MA at ~$2200 . However, if Price breaks down below $1941, it will likely retest $1700-$1800 . Mental Stop Loss: (two consecutive closes below) $1941.
COINBASE:ETHUSD
by dailytaguy