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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
WEEK 27 Could be RepeatedA good Monday followed by a dip on Tuesday.... This is the situation as of the moment this week (week 32 of the year 2022). The resemblance with 5 weeks ago (week 27 of the year) could indicate a Pump could be next. At the same time there is a nice S/R level which indicates support could be now for Crypto market. Let's not forget the CPI data tomorrow which will add to the volatility. Hopefully (and most likely I believe) to the North side. This could be a good dip to buy but don't take my word for it. DYOR One Love, The FXPROFESSOR
CRYPTOCAP:TOTAL3Long
by FX_Professor
7
BTC Daily TA Cautiously BullishBTCUSD Daily TA Cautiously Bullish. Recommended ratio: 70% BTC, 30% Cash. * US July Manufacturing PMI was reported today and showed a slight slowdown in manufacturing activity dropping from 52.7 last month to 52.3 this month; this sent Equities and Cryptos lower but again helps confirm that the Fed is being effective in reducing demand as a means of curbing inflation. California now accepts cryptocurrencies for campaign donations . FTX is in talks to buy South Korean crypto exchange Bithumb . Bitcoin is at a critical juncture as it currently tests the 200 MA as support for the first time since April of this year. The Merge expected in September will likely continue to have a bullish effect on cryptos through the rest of this month and most of August.* Price is currently testing the 200 MA as support at $22.8k after being rejected at $24180 minor resistance on the first test. Volume is Moderate and currently on track to favor sellers for a third consecutive session at this critical resistance, this is mildly bearish. Parabolic SAR flips bearish at $19.7k, this margin is neutral at the moment. RSI is currently testing the 50/50 uptrend line from 11/18 as support at 57 support; the next support is the descending trendline from January 2021 which would coincide with the uptrend line from 06/22 at ~48. Stochastic crossed over bearish in today's session and is currently trending down at 93, it is still technically in the 'bullish autobahn' but if it falls out then the next support is at 78. MACD remains bullish and is currently trending up slightly at 200 as it begins to form a soft peak just below 313 resistance (critical). ADX is currently flatlining at 23 (a sign of bottoming) as Price is attempting to keep the bullish momentum going, if ADX starts to go up in conjunction with Price this would be bullish; and if it starts to go up and Price goes down, this would be bearish. If Price is able to defend support at the 200 MA ($22.8k), it will have to break above $24180 minor resistance before it can retest the descending trendline from November 2021 at $30k as resistance. However, if Price loses support at the 200 MA ($22.8k), then it will likely retest $20k psychological support and/or $19417 support . Mental Stop Loss: (one close below) $21.6k.
COINBASE:BTCUSD
by dailytaguy
2
BTC Daily TA BullishBTCUSD Daily TA bullish. Recommended ratio: 90% BTC, 10% Cash. *WEEKEND RALLY. Cryptos continue rallying off of news that Ethereum's long awaited Merge is forecasted to be finalized and ready for launch on Mainnet ~09/19/22 . Assuming that the final trial on the Goerli testnet goes well in August, this timeline should be fairly accurate; however, The Merge has been plagued by delays up until this point so take these forecasts with a grain of salt. Meanwhile, the macroeconomic/geopolitical/supply chain situation continues to worsen. This contrast can be unsettling hence the need to continue being vigilant; however, Weekly conditions continue to support the notion that cryptos may be close to a bottom due to extremely oversold conditions.* Price is currently testing the one-month high of $21.5k as resistance and will try to test the 50 MA at $23.5k if the weekend crypto rally can continue. Volume is currently Moderate (low) and on track to both shrink and favor buyers for a fourth consecutive session (indicating that a breakout/breakdown is potentially impending). Parabolic SAR flips bullish at $22k, this margin is bullish. RSI ripped through 42 resistance and is currently trending up at 50 as it tests the descending trendline from January 2021 at 49 as resistance; the next resistance is the uptrend line from November 2018. Stochastic remains bullish and is currently trending up at 96 as it approaches a retest of max top. MACD remains bullish after denying a soft peak formation and is currently breaking out above -869 resistance as it trends up at -622; the next resistance (minor) is at -232. ADX is currently trending down at 25 as Price is pushing higher, this is mildly bullish at the moment; if ADX can form a trough as Price continues to push higher this would be bullish. If Price is able to continue trending up here then it will likely test the 50 MA at $23.5k as resistance before potentially pushing higher to test $24180 minor resistance . However, if Price breaks down here, it will likely retest $19417 support before potentially retesting the uptrend line from April 2017 at ~$15k as support for the first time since September 2020. Mental Stop Loss: (one close below) $19417.
COINBASE:BTCUSD
by dailytaguy
BTC Daily TA Neutral BullishBTCUSD Daily neutral with a bullish bias. Recommended ratio: 51% BTC, 49% Cash. * SELL-OFF WATCH . Cryptos look like they may lead the market sell-off if there isn't a bounce at some point in the next session or two. Bitcoin still has yet to test the uptrend line from March 2017 at ~$15k and many analysts are calling for a $13k bottom, sentiment seems to support this more and more every day but until BTC loses $20k ($19417 support) it's not confirmed.* Price is currently trending down at $20100 as it continues to trade sideways in the largest supply/demand zone on the chart at $20k psychological support. Volume is currently Low and on track to favor sellers for a second consecutive session. Parabolic SAR flips bearish at $19k, this margin is bearish at the moment. RSI broke below 42 support and is currently trending down at 38, if it can't bounce here then the next support is the uptrend line from 06/18/22 at 36; if it breaks below here it will likely test the uptrend line from 01/22/22 at ~28. Stochastic remains bearish and is currently testing 78 support. MACD remains bullish and is currently forming a soft peak as it tests -869 minor resistance. ADX is currently trending down at 30 and is beginning to form a soft trough as Price is breaking down, this is neutral at the moment. If Price is able to bounce here at $20k then it will likely retest the one-month high at $22500 before potentially testing $24180 minor resistance . However, if Price continues to break down here it will likely retest $19417 support before potentially retesting the uptrend line from April 2017 at ~$15k as support for the first time since September 2020. Mental Stop Loss: (one close below) $19417.
COINBASE:BTCUSD
by dailytaguy
ETH Daily TA Neutral BullishETH Daily neutral with a bullish bias. Recommended ratio: 57% ETH, 43% Cash. *Cryptos enjoyed a rally to start the weekend but then came the Sunday Scaries (a corrective sell off after a weekend rally), this is typically bullish going into the next week but given the bearish sentiment in markets it may signal that more downside is to be expected. Fed Vice Chair Lael Brainard gave a speech on crypto and DeFi last Friday (06/08) . In it she confirmed that the Fed is still working on a CBDC and that more traditional finance regulations are coming for DeFi ("same risk, same disclosure, same regulatory outcomes") to prevent exploitation, undisclosed conflicts of interest, and market manipulation. She once again stood in support of what crypto has to offer and stated that regulations shouldn't stifle innovation, referring to cheaper + quicker cross-border/remittance payments and collateralized loans. Brainard ended the speech by commenting that perhaps accountability should be shifted to protocol developers and transaction validators; which begs the question of which agency would be responsible for this legislation ( Bureau of Industry Security? Export Administration Regulations? ). Key dates to watch for this week: June CPI report at 830AM (EST) on 07/13 (if it comes in higher than the consensus estimate of 8.8%, expect for a dip in almost all markets).* Price is currently trending down at $1170 after being rejected by the lower trendline of the descending channel from October 2021 at ~$1250 on the first formal test; this not abnormal considering that it is a critical resistance in the largest supply/demand zone on the chart. Volume is currently Low and on track to favor sellers if it closes today's session in the red; the fact that Volume is low makes this rejection weak and Price still capable of a retest/breakout. Parabolic SAR flips bearish at $1015, this margin is mildly bearish at the moment. RSI is currently trending down at 43; the next support is at 37 and the next resistance at 55. Stochastic remains bearish for a second consecutive session and is currently trending down at 85 as it approaches a test of 81 support. MACD remains bullish and is currently beginning to form a soft peak at -62; though it's just below -47 minor resistance it is still technically testing -91 resistance. ADX is currently trending down at 34 and is beginning to form a soft trough as Price is facing rejection, the hint of a soft trough formation is in line with the downtrend but because it is still trending down this is mildly bullish. If Price is able to break out above the lower trendline of the descending channel from October 2021 at ~$1250 , the next likely target is a test of $1427 resistance. However, if Price continues to break down here then it will likely retest $1000 psychological support before potentially testing $776 support . Mental Stop Loss: (one close below) $1135.
COINBASE:ETHUSD
by dailytaguy
ETH Daily TA Cautiously BullishETHUSD Daily cautiously bullish. Recommended ratio: 75% ETH, 25% Cash. * Ethereum has just completed its second (and second to last) Merge trial on Sepolia Testnet and will now have to pass the third and final trial on Goerli Testnet before launching on Mainnet; that said, Core developers still anticipate the Merge to launch on Mainnet sometime in Q3. Fallout from the 3AC default continues as one of the first crypto exchanges in the world, Blockchain.com, announced today that they expect to realize a $270m loss on loans to the over-leveraged and now distressed hedge fund (3AC). 2gether, one of the oldest crypto exchanges in Spain, recently halted operations amidst the downturn in crypto . It's unclear when this massive deleveraging in crypto will be finished but it seems as if a few more liquidations or defaults would be appropriate for Alameda Research (Sam Bankman-Fried) , Tron DAO (Justin Sun) or Binance Labs (Changpeng Zhao) to really start injecting liquidity into the crypto markets.* Price has been consolidating in the largest supply/demand zone for twenty three consecutive sessions and is currently testing the lower trendline of the descending channel from October 2021 at ~$1250 as resistance. Volume remains Moderate and is currently on track to break a two session streak of buyer dominance if it manages to close today's session in the red. Parabolic SAR flips bearish at $1k, this margin is neutral at the moment. RSI is currently trending sideways at 48.50 as it pauses on its way to test the descending trendline from February 2020 (as resistance) at 55.31 resistance. Stochastic remains bullish and is currently on the verge of forming a bearish crossover at max top (where it can coast in the 'bullish autobahn' for some time). MACD is currently trending up at -77 as it tests -91 resistance with no signs of peak formation; the next resistance (minor) is at -47. ADX is currently trending down sharply at 38 as Price pushes higher, this is mildly bullish. If Price is able to break out above the lower trendline of the descending channel from October 2021 at ~$1250 then it will likely test $1427 resistance . However, if Price is rejected here, it will likely retest $1k psychological support before potentially heading lower to test $776 support for the first time since breaking above it in January 2021. Mental Stop Loss: (one close below) $1135.
COINBASE:ETHUSD
by dailytaguy
2
Double Excess Phase Peak In Bitcoin - Seeking A BottomBack in 2021, I warned of an Excess Phase Peak pattern that may setup in Bitcoin. What I didn't see happening was a DOUBLE Excess Phase Peak pattern setting up. This DOUBLE Excess Phase Peak pattern suggests the $30k to $34k price level in Bitcoin became extended critical support as price continued to navigate through the 5 Excess Phase Peak triggers. Because price has recently broken below the $30k to $34k critical support, the current price phase is a downward slide while price attempt to find an ultimate bottom (a true bottom). My expectations are that the $9500 level is where Bitcoin will ultimately find a bottom. Time will tell. Ultimately, the US/Global markets may follow a similar pattern as we are seeing a global revaluation take place. Follow my research.
BITSTAMP:BTCUSDShort
by BradMatheny
Bitcoin won't find support until is breaches $10kThe great unwinding of excesses after the COVID crisis continues. Bitcoin will not attempt to find support until it reaches $10k or lower. The US/Global markets may continue to trend lower as well as Q2:2022 earnings/revisions are likely to SHOCK trader's expectations. Now is not the time to be buying anything (IMO). Smart traders understand the risks related to Q2 earnings/revisions and will wait out the revaluation event. July 26/27 looks to be the end of a major price cycle. I suspect we'll see a bottom sometime near then. Stay cautious and follow my research.
BITSTAMP:BTCUSDShort
by BradMatheny
ETH Weekly TA Cautiously BearishETHUSD Daily cautiously bearish. Recommended ratio: 10% ETH, 90% Cash. *It's currently a risk-off market which is adversely impacting cryptos and equities, add the insolvency crisis that is currently hitting various crypto lenders and crypto investment funds and there are very few reasons to be bullish. Once lay-offs are more commonplace and the housing market sees a prolonged shock, maybe then financial markets will have priced in a recession; but as it looks now, there is still a bit of room for downward pressure.* Price is currently trending down at $1018 as it attempts to stay above $1k, it is also breaking down below two important trendlines (which happen to coincide with the 200 MA); the lower trendline of the descending channel from October 2021 and the uptrend line from June 2020 (both at ~$1200). Though we are technically exhausted on the Weekly and starting to be the Monthly, there is still room for a bit more downward pressure (the lower trendline of the descending channel from May 2021 is at ~$800 and the long-term uptrend line from January 2017 is at ~$300). Volume is Moderate (low) and is currently favoring sellers after breaking the eleven-week seller-dominant streak for one week in last week's session. Parabolic SAR flips bullish at $3550, this margin is bullish. RSI is currently trending down at 26.69 as it quickly approaches a retest of the ATL at 25.88. Stochastic remains Flatlined at max bottom for a seventh consecutive week; the longer this goes on, the higher the odds of a massive rally in the future. MACD remains bearish and continues to form new ATLs with no signs of trough formation, the newest ATL is currently at -533. ADX is currently trending up slightly at 32 as Price continues to fall, this is bearish. If Price is able to bounce here and reclaim both the uptrend line from June 2020 and the lower trendline of the descending channel from October 2021 at ~$1200 , then the next likely target is a test of $1407 resistance. However, if Price is to break down below $1k support , it will likely test the lower trendline of the descending channel from May 2021 at ~$800 before potentially heading lower to test $681 minor support for the first time since breaking above it in December 2020. Mental Stop Loss: (two consecutive closes above) $1245.
COINBASE:ETHUSD
by dailytaguy
ETH Daily TA Cautiously BullishETHUSD Daily cautiously bullish. Recommended ratio: 80% ETH, 20% Cash. *SUNDAY/MONDAY SCARIES WATCH. With the BEA due to report a third estimate for Q1 2022 GDP growth on Wednesday (06/29) at 8:30am (EST) and Core PCE Price Index to be reported on Thursday (06/30) at 12:30pm (EST), crypto and equity markets will look to continue the technical relief rally to start the week.* Price is currently trending up at $1237 and is on the verge of testing the lower trendline of the descending channel from October 2021 at ~$1300, where a bit of resistance is to be expected. Volume remains Moderate (low) and is currently on track to shrink for a ninth consecutive session, indicating that a breakout or breakdown is likely impending. Parabolic SAR flips bearish at $941, this margin is neutral at the moment. RSI is currently trending sideways at 39 as it hovers above 36.91 support; the next resistance is at 55.31 which would coincide with the descending trendline from February 2020. Stochastic remains bullish and is currently forming a peak as it tests max top. MACD remains bullish and is currently trending up at -176 as it attempts to breakout above -197.34 resistance. ADX is currently trending down at 48 as Price continues to push higher, this is mildly bullish. If Price is able to break out (and close) above the lower trendline of the descending channel from October 2021 at ~$1300 then it will likely test $1426 resistance. However, if Price breaks down here, it will likely formally test $775 support for the first time since breaking above it in January 2021. Mental Stop Loss: (two consecutive closes below) $1k.
COINBASE:ETHUSD
by dailytaguy
2022/6/22 2:45pm ETH/USD analysePivot Point: 1110 Currently: Resisted at 1056 and retraced back to 994 Reaction: Consolidating at this 1173 level , its next support zone is at 1228 I just started sharing my daily technical analysis of Metals & Forex Market with my indicators on tradingview~ Wish to receive some feedbacks from you! 😊 Btw you can feel free to use our designed indicators!!! Just lemme know if you want it! Follow & like our posts to support us😎! Can’t wait to chat with you more~
BINANCE:ETHUSDShort
by idealcase
ETHUSD Daily TA Neutral BearishETH Daily neutral with a bearish bias. Recommended ratio: 35% ETH, 65% Cash. *Cryptos are enjoying a technical relief rally that is still ongoing even though Binance didn't buy $2b of Bitcoin this weekend, the bulls are saying bottom but I think it's a bit premature with JPow due to testify before Congress on Wednesday (06/22) and PMI due on Thursday (06/23).* Price is currently defending $1k and beginning to form a U-shaped bottom in attempt to reclaim support of the descending channel from October 2021 at ~$1300; because Price only briefly touched $889 and never formally tested $775 support, it may see a corrective bounce here before heading lower. Additionally, Price hasn't tested the uptrend line from February 2017 (currently at ~$360) since July 2020. Volume is Moderate and on track to favor sellers if it can close today's session in the red (making the spread fairly balanced over the past week, indicative of consolidation). Parabolic SAR flips bullish at $1231. RSI is currently trending sideways at 28 as it attempts to reclaim support of the uptrend line from 01/22/22 at 26.50. Stochastic remains bullish for a second consecutive session and is currently trending up at 30 as it is still technically testing 22.98 resistance. MACD is currently forming a trough and trending up slightly at -252 as it aims to break above -227 to cross over bullish; the next resistance is at -197.34. ADX is currently trending up slightly at 52 and is beginning to form a soft peak as Price is bouncing here; this is neutral at the moment but would be bullish if ADX began to trend down as Price continued up. If Price is able to continue up then it will likely test the lower trendline of the descending channel at ~$1300 as resistance. However, if Price breaks down here, it will likely test $775.83 support for the first time since breaking above it in January 2021. Mental Stop Loss: (two consecutive closes above) $1300.
COINBASE:ETHUSD
by dailytaguy
COIN- Fundamental and technical analysis****NOT THE INVESTMENT ADVICE**** I'm neutral in my assessment. Please do your own due diligence. In this analysis, I leave out external and macro factors such as crypto adoption and regulatory concern. Rather, I want to focus on things Coinbase can control. Main points- To start off, I believe Coinbase has the bright future and its biggest risk is the execution risk. However, in order for it to succeed, few conditions need to be fulfilled. ***The big bets need to take off (NFT market place, potential derivative offerings & Dapp marketplace and Coinbase wallet). When they do, the subscription and service revenue would go up and the decoupling may happen (crypto market price crash will have less effect on the COIN price) or at the very least Coinbase will be less dependent on the trading revenue, which currently accounts for 87% of the total revenue). ***NFT marketplace must take off next year- Both FTX and Binance have tried, but they failed to win the significant market share from OpenSea. What other strategies does Coinbase have to win market shares from OpenSea other than enhanced social features and trading fee waiver when the overall pie isn’t growing? (NFT trading volume and floor price are trending lower) ***Coinbase wallet must acquire more market share- How can Coinbase monetize the wallet when the market-leader MetaMask is provided for free? The success of Coinbase wallet is essential so Coinbase doesn’t become just another fiat on-ramp provider. It’s also instrumental to Coinbase’s overarching strategy of becoming all-encompassing platform where users can access all crypto-related activities. ***How to extract more revenue from institutional investors? Any strategies to increase the custodial fee and commerce fee? The upside- Cardano staking- Most of the subscription and service revenue come from the blockchain reward and the blockchain reward itself is consisted of mostly staking revenue. Cardano staking may further boost the blockchain reward revenue when it’s already the second biggest revenue source for Coinbase. Coinbase is focusing on its long-term vision- DeFi, Protocols+Web Infra and NFT/Mertaverse account for 60% of Coinbase’s ventu res portfolio. This is important as most major use cases in crypto ecosystem come from DeFi, NFT and DAO space. Still the most trusted brand with advanced and industry-leading security features. It has the security infrastructure and regulatory compliance advantage against international competitors such as FTX and Binance. While against domestic competitors such as Gemini and Kraken, it has the crypto offering advantage. Strong balance sheet enables Coinbase to acquire competitors during the crypto winter. Most of its long-term debts are convertible notes with the earliest maturity date in 2026. Still the leader of regulated U.S exchanges based on the spot volume, around 46% in 2021. Coinbase has recently become the first-ever crypto firm to join the Fortune 500 list of the largest U.S. firms by revenue. One caveat is that there are no strong barrier and switching cost that would prevent Coinbase customers from going to another exchange. More sustainable moat can be achieved if Coinbase can create a platform that provides all-access to crypto activities, realizing its long-term vision of becoming the Amazon of crypto services. Problem diagnosis- Verified user, trading volume, MTU and ATRPU are the most important metrics to watch out for in addition to other common financial metrics. The persistent theme is that the the declining trade volume and MTU (Monthly transacting users) are hurting Coinbase. Trading revenue accounts for 87% of overall revenue, the rest in subscription and service revenue, mostly in blockchain reward from staking. Retail only accounts for 23% of trading volume, but it accounts for 95% of trading revenue- Retail actually pays 14x the fee compared to institutional. Not much revenue is generated from institutional clients even though they dominate the trading volume because they receive deep discount for executing large trade, bringing in the flow, proving liquidity and acting as market makers. As soon as there’s some regulatory clarity, trading fee erosion can happen when bigger financial institutions and banks decide to enter the space, leading to the race to the bottom effect. Decline in retail trading volume while Institutional trading volume actually went up during the same time- Altcoins now account for fully 55% of transaction volumes and they are likely contributing to the rapid decline of retail transaction volume. Retails trade a lot of altcoins during the bull market and they stop trading altcoins in bearish market or when the volatility is low. Institutionals, on the other hands, trade mostly in Bitcoin and Ethereum and their trading volume is less affected by the market downturn. One could argue that this is the downside of adding more risky assets on the platform as it adds more volatility during the bear market, though these same assets flourish and bring in a lot of revenue during the bull market. Therefore, it’s a double edged sword. Increase in verified users and MTU may not translate to increase in ATRPU- Increasingly, users are engaging in more non-trading activities such as yield-generating staking which generates far less revenue than high-fee trading activities. This is not necessarily a bad thing as Coinbase has always been pushing for a more diversified revenue stream.
 In summary, Coinbase will likely continue to have more verified users, but even if those verified users become MTU, it may still experience the decline in revenue and ATRPU because of the decline in retail trading volume, trading activity and trading fee unless Coinbase can somehow find ways to extract more revenues from institutional clients and increase the percentage of the subscription and service revenue in total revenue. The downside- Weakening guidance as the company anticipated further decline in trading volume and MTU in 2022 Horizontal analysis revealed that Equity-Based Compensation (EBC) and SG&A ballooned while revenue suffered this quarter, leading to the weakening operating leverage. This concern is somewhat addressed during the recent 18% layoff as Coinbase aims to keep the EBITDA loss around 500 mil in the face of decline ATRPU, NOPAT and FCF. Impairment cost rule means Coinbase could suffer more non-cash loss on its crypto asset investment in the near future if the market selloff triggered by the Terra/Luna debacle and over-leverage unwind continues. Despite the strong balance sheet, customer custodial funds account for nearly 50% of the total asset, making Coinbase susceptible to the potential bank run risk. Coinbase recently filed shelf registration statement with the SEC. Just a minor concern as It has no intention to issue any new stocks anytime soon. Structural and ecosystem risk- Coinbase has strong interdependent and venture capital relationship with many crypto firms it invests and supports in its venture portfolio. Any insolvency and liquidity issues these firms experience during the prolonged bear crypto market could potentially have the negative impact on Coinbase’s operation. In summary, Coinbase has never been hit by bad macro environment and crypto downturn at the same time. In order for it to navigate through the current bear crypto market, Coinbase needs to apply the combination of financial prudence and execution nimbleness while making sure the development of high-priority product and service can continue unaffected.
NASDAQ:COIN
by Libratus
1
ETHUSD Daily TA BearishETH/USD Daily bearish. Recommended ratio: 5% ETH, 95% Cash. *The House of Cards is continuing to fall in leveraged crypto land with 3AC, Celsius and Babel all either pausing or limiting withdrawals/redemptions; not to mention Microstrategy quickly approaching a margin call on their leverage long BTC position that may have actually been hit when BTC touched $17600. All that said, there is officially blood in the streets, so to all my investors out there, I'd say it's safe to start Dollar Cost Averaging in to some of your favorite shitcoins (with a long term horizon in mind).* Price is currently trending down at $985 after briefly touching $881 as cryptos continue to see selling pressure; $775.83 is the next support that was last tested (as support) in February 2018, if it falls below this level cryptos (as a whole) will likely be wiped out and have to start anew with a whole new paradigm of value. Volume is High and is currently on track to favor sellers in today's session if it can close in the red. Parabolic SAR flips bullish at $1400 which coincides with the lower trendline of the descending channel from October 2021. RSI is currently trending down at 19.41 as it quickly approaches a test of the ATL at 17.42, a break below this level would help confirm that cryptos are essentially due for a wipeout cleansing. Stochastic regressed to a bearish crossover in today's session and is currently trending down at 2.72 as it hovers above max bottom. MACD remains bearish and is currently trending down at -257 with no sign of trough formation as it has officially lost -197.34 support (the next support is at -318.82). ADX is currently trending up at 50 as Price continues to fall, this is bearish. If Price is able to bounce here then it will likely test the lower trendline of the descending channel from October 2021 at ~$1300 as resistance. However, if Price continues to fall it will likely formally test $775.83 support. Mental Stop Loss: (two consecutive closes above) $1300.
COINBASE:ETHUSD
by dailytaguy
5