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Bitquence VS Bitcoin Falling DownBitquence recently found the high at 33650 satoshis, after which price went down sharply. It broke below the 50 Moving Average and then penetrated the uptrend trendline, suggesting the continuation of the move down. The Fibonacci applied to the corrective wave after breaking the trendline and the moving average, shows that BQX/BTC rejected the 127.2% level twice, that is 25450 satoshis, after which price produced a new lower low. Currently the downtrend continuation seems imminent and price is very likely to decline towards the key support at 20.5k satoshis area, that is confirmed by two Fibonacci retracement levels. First is 76.4% and second is 327.2%. Only break above the 25.5k satoshis resistance level could invalidate bearish outlook and result in the continuation of the uptrend.
BShort
by CryptoPAMM
SONM vs Bitcoin Down To SupportRecently SONM has jump up by nearly 50% after it bounced off the 8/1 Gann Fan trendline. SONM/BTC broke above the 200 Moving Average and reached 3000 satoshis high. It seems that this was a strong psychological resistance level, which SONM failed to overcome. Today price broke below the 200 Moving Average, suggesting yet another wave down. SONM is very likely to re-test the Gann Fan trendline, while correcting down to 78.6% Fibonacci retracement level at 2000 satoshis level. This is a strong psychological support as well, and if SONM/BTC will reject it, the stronger growth could be expected. But, if broken, downtrend continuation could take place sending price back down to 1k satoshis area.
SShort
by CryptoPAMM
BTC/ USD not today...After seeing how sluggish the market is now, you can understand that we are not so far off, since most of the time is waiting for a minimum update, and big players are still watering it with small negative news ... proceeding from the fact that in mining now they throw in a lot of money, you can to conclude that the big players are interested, and they are not ready to lose more than 700 million, which means that they have information about the fact that the market will be pamped, but first it is very sweet to buy, so it's logical to go down the hill to get the right speed before rise You can find a top inside new at www.dabinside.com this platform the first or at telegram channel: t.me
BITFINEX:BTCUSD
by Mrmoney7_7
4
Possible Sideways Movement for BTCFirstly, I apologise for the black lines on chart, just easier for me to black them out instead of redrawing them later. There seems to be a fairly large sideways channel (in orange) formed when I draw a couple of FIBs. There does seem to be a bit of support at $7,400 and resistance at $7,700, with only very slight breakthroughs on either side. BTC looks as though it is trying to break that resistance, having had a couple of goes at it, but no real strong rally to punch through. If this happens again, and fails, we may see BTC drop back down to roughly around $7,000. This is also very close to a support line (in red). If it does go beyond that, my estimation is mid $6,000. Conversely, if we break the $7,700 resistance, the next target might be around $8,000. This may be possible as there seems to be an ascending channel formation, as long as BTC bounces off the yellow dotted line support. I'm still staying fairly neutral here, as BTC is sending out some mixed signals. Trade safe and DYOR, everyone. This is only my (fairly ambiguous) opinion.
BITFINEX:BTCUSD
by Curdled_Jelly
BTC: Bear Flag, 200EMA and RSI says DOWN!Been a while since the last update, I've been quite busy although I kept reading stuff here and there. BTC is developing a bear flag BELOW the 200 days EMA. This mainly means we are going down! Stochastic RSI shows a fast invesrion from the overbought area down to zero. Personally I would set a target price around 7200, close to the strong trailing support level highlighted in "pink". As a side note we always need to take into consideration that this market is highly manipulated and almost anything can happen. I'm waiting for a breakout towards the bottom of the bear flag as a trend confirmation. ***As usual, this is not a trading advice.. It is merely my idea for educational and informational purposes only***
BITFINEX:BTCUSDShort
by SteveEnnom
OkCash Downside CorrectionOkCash has reached the high on the 3rd of May, hitting $0.23. The strong move down followed resulting in the break below multiple obstacles. Price has broke below the uptrend trendline, followed by the break below the 200 Moving Average and the ascending channel. It seems that OK/USD is loosing the upside momentum and the downside correction could continue, especially after it has rejected the lower trendline of the ascendant channel. Strong support and the potential downside target is seen at 76.4% Fibonacci retracement level that is $0.12, which could play a key role in further price development. Break below the support might trigger further decline, at least towards $0.09 to form a double bottom and potentially price could go lower. On the upside, only break and close above current high/resistance at $0.23 could invalidate bearish outlook resulting in the uptrend continuation.
OLong
by CryptoPAMM
NEM Downside CorrectionNEM has reached the high at $0.46 and then formed a strong resistance at the 76.4% Fibonacci retracement level, which is $0.44. The resistance has been rejected for tree consecutive times suggesting the corrective move down. XEM/USD first downside target is seen at $0.34, where resistance was formed back on the 20th of March. Second support is based at 23.6% Fibs, that is $0.27 and this is the area where the 200 Moving Average was broken. It is important to watch these resistance levels for either a rejection of a breakout, but only break and close below the $0.27 could be a confirmation of a downtrend continuation. On the upside, clearly the resistance at $0.44 in general and $0.46 level in particular must be broken, with the daily close above it. In that case the uptrend is likely to continue and could result in exponential growth.
POLONIEX:XEMUSDShort
by CryptoPAMM
2
EURUSD Still Trapped in a Relentless Down-Trend - target 1.17218th May EURUSD Update EUR made the counter-rally move back to the upper parallel precisely at 1.1978 before falling away again. Having failed to hold up at the 1.1910 level it is falling further as DXY continues its long-predicted rally. EUR should fall to 1.1815 and then bounce to the upper parallel again before falling away further still to 1.1721 as the month progresses. Any bounce back to the upper parallel can be still be viewed as another selling opportunity until the down-side target is achieved. Whilst EUR remains trapped within this clearly defined down-trend this pair remains a one way bet. The trend has to get broken at some point though - only then do we switch back to long again on this pair. Just not yet awhile.
Short
by sumastardon
1
Cardano Going Down?Cardano recently tested the high, hitting 4190 satoshis, where it formed a bearish divergence on the RSI oscillator suggesting a corrective move down. The corrective wave followed and currently ADA/BTC is trading near the 61.8% Fibonacci support which is at 3400 satoshis. It is yet to be seen whether Cardano will reject this support or break below. However, if the support is broken, price is likely to move lower, towards 88.6% Fibs near 3k satoshis psychological support area. And only break and close below 3000 satoshis could send price back to 2k satoshis. On the upside, clearly there is strong resistance near 4k satoshis area. But if price will manged to break and close above 4200 satoshis on a daily time-frame, it is very likely that the price will go parabolic resulting in strong gains.
by CryptoPAMM
1