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XRP/USD - Buy OpportunityWhat's up traders, straight into the analysis! Here we are analyzing XRP/USD on the 4H chart. We have been keeping a close eye on Ripple recently, as price has been making a nice recovery to the upside since the lows on 6th February at 0.5700. At current, price is trading at 0.90010, whilst sitting on a very nice support zone. Price has been bouncing on and around the support zone for some time now, and soon enough I am expecting a breakout to the upside. Price will eventually carry on it's upside momentum, breakout out of the horizontal support range sufficiently. If price breaks above 0.9770, then it has broken the consolidation range it is in, and this will confirm the horizontal support level was in play and the upside is then very likely to break out and hit the upside target of 1.1930. I am expecting Ripple to be impulsive until hitting the resistance zone/target zone at 1.1930. We could have a small pullback after breaking the consolidation level at 0.9770 which will then allow a safe entry into this trade. Once a retest of the consolidation zone has occurred, Ripple will be able to move to the upside uninterrupted. Bare in mind, that I'm expecting more upside in the longer term regardless of how price behaves. I will update this analysis when I receive above 40 likes.
BITFINEX:XRPUSDLong
by TomProTrader
14
ETH/USD - Buy OpportunityWhat's up traders, Here we are analyzing ETH/USD on the 4H chart. I recently analyzed this pair in an earlier analysis. Now the pair is looking bullish at a nice level, I would like to reanalyze this chart. At current, price is trading at 858, price broke out today after using the 20 moving average as a slingshot, suggesting that the bullish presence we are now seeing is legitimate. Even further that this happened on a higher low on a side-wards support line. When analyzing the chart again, I discovered a nice side-wards support line which today is at the value of 830. I suspect that ETH/USD will likely retest this side-wards support level before an up move. If price breaks below this level, there could be a retest of the lower horizontal support at 790 first before the up move begins. Price will now likely test the side-wards support at 830 or at worst 790, but this isn't a deal breaker either way. Coupled with the fact that a retest would again coincide with the moving averages, this could provide a compelling support where once again the big money would be looking to speculate and accumulate. Bare in mind, if it comes lower than 790, I doubt there would be much bull presence for a little while after. As I've said before: Also bare in mind that Ethereum is one of the most efficient safe haven currencies. So if you have a low amount of cash, Ethereum 2.28% 1.54% is your best bet for safety and simultaneous profitability. I will update this analysis when I receive above 40 likes.
BITFINEX:ETHUSD
by TomProTrader
13
BTC/USD - Levels To WatchWhat's up traders, I hope you are all having a wonderful weekend. Here we are analyzing BTC/USD on the 4H chart. I posted a BTC/USD analysis a week ago, and the dynamics of the trade have changed. So I am eager to update this analysis. At current, price is trading at 9580, after a corrective down move after a peak at 11780, which was the horizontal resistance zone. Price will now likely test the side-wards support at 9420. Coupled with the fact that price will likely test the major moving average support at 9750. If it retests this level on a higher time frame with a reversal candle, this is the perfect entry point. I am expecting Bitcoin to retest the side-wards support at 9420 at least. There is also the possibility it can break this level, as well as the moving average support, and break down further to lower support at 7990. Bare in mind, that I'm expecting more upside in the longer term. I will update this analysis when I receive above 40 likes.
BITFINEX:BTCUSD
by TomProTrader
XRP/USD - Approaching Buy OpportunityHi traders, I hope you all had a wonderful weekend. Here we are analyzing XRP/USD on the 4H chart. XRP/USD has been in a small corrective move after a big up move which had a high of 1.2115 before the downside began. Price recently found support at 0.9770 and I expect this to be a possible buy zone. I believe price will pick up momentum to the upside. Price had an initial low at 0.8990, and is since trying to make a break higher. Price is trading above a horizontal resistance which has now turned support, and as it stands there is a reversal candlestick on the horizontal support at 1.0050. This support zone could be the beginning of the up move. If price fails at the above support zone, then price may fall and then test a lower support horizontal support zone at 0.6500. But, judging by the momentum now, I expect this scenario to be unlikely. I am expecting Ripple to continue with the current upside momentum, and I am eventually expecting that Ripple will pick up upside momentum and hit the upside target of 1.2150 in the short term. This trade could play out in 2 ways, I have outlined these below: -Price bounces at the current horizontal support at 0.9790, and then uses it as a launch pad to hit the upside target of 1.2150. With this scenario the move probably will not be straight up, there is likely to either be a: retest of the support zone, or a corrective pullback higher up in the up trend. Either way, the target above is likely to be hit. -Price tests the current horizontal support level at 0.9790 and then rolls over, breaking below the middle support zone to the lower support zone at 0.6500. If it breaks the middle support at 0.9790 it doesn't necessarily mean it will tank to 0,6500, but it does show a longer term weakness in the pair and shows the recent corrective move might be voided, and will create a volatile market. Bare in mind that seeing a retest at horizontal support at 0.6500 would be an awful test. If price retests the lower support, it will still bounce and go to the upside, but it is less likely. The first scenario above is the ideal one for Ripples best outcome. For this trade, and for the long term health. I will updating this analysis if it exceeds 40 likes.
BITFINEX:XRPUSD
by TomProTrader
26
ETH/USD - Watch For Another BuyWhat's up traders, Here we are analyzing ETH/USD on the 8H chart. I recently analyzed this pair in an earlier analysis. Now the dynamics of the trade have changed I am eager to show the current forecast for the pair. At current, price is trading at 927, price broke out after supporting on the 20 and 50 moving average, suggesting that the bullish presence we are now seeing is legitimate. Even further that this happened on a higher low. When analyzing the chart again, I discovered a nice side-wards support line which today is at the value of 875. I suspect that ETH/USD will likely retest this side-wards support level before an up move. If price breaks below this level, there could be a retest of the lower horizontal support at 550 in the longer term before the upside. I hope we do not see the second scenario. Price will now likely test the side-wards resistance as a new support, but this isn't a deal breaker either way. Coupled with the fact that a retest would again coincide with the moving averages, this could provide a compelling support where once again the big money would be looking to speculate and accumulate. Bare in mind, if it comes into the lower horizontal support at 550, I doubt there would be much bull presence after. Also bare in mind that Ethereum is one of the most efficient safe haven currencies. So if you have a low amount of cash, Ethereum 1.54% is your best bet for safety and simultaneous profitability. I will update this analysis when I receive above 40 likes.
BITFINEX:ETHUSD
by TomProTrader
7
XRP/USD - Buy OpportunityWhat's up traders, Here we are analyzing XRP/USD on the 8H chart. I posted a XRP/USD analysis around a week ago, and the dynamics of the trade have changed now, hence I am eager to update this idea. At current, price is trading at 1.1290, supporting on the side-wards resistance and 20 moving average, with the 20 moving average above the 50, suggesting a legitimate bullish presence. Price will now likely test the moving averages and use them as a new support level . Coupled with the fact we have the side-wards resistance turned support, we could see price to to upside target of 3.1730 I am expecting Ripple to recover lost ground now as the trend is having a legitimate turn. Bare in mind, that I think Ripple is going to have an absolutely outstanding year, and I think it has the real possibility of outperforming other high market cap Cryptocurrencies. I will update this analysis when I receive above 40 likes.
BITFINEX:XRPUSD
by TomProTrader
42
LTC/USD - Levels To WatchWhat's up traders, Here we are analyzing LTC/USD on the 12H chart. LTC/USD is very bullish, having recently broke side-wards resistance structure at 162 after a long term downtrend. At current, price is trading at 210, price broke out yesterday after supporting on the 20 and 50 moving average. This suggests to me that the moving averages were supported on after a higher low, and a breakout ensued. If this wasn't the time for you to realise there was an uptrend, now is. Price will now likely test the side-wards resistance at around 150 as a new support, this isn't a deal breaker either way. The retest would likely see the horizontal support, the side-wards support, and the moving average supports all tested at the same time, which would be an excellent launch pad for prices to go higher into the future. I am expecting Litecoin to come down lower, and begin picking up momentum again towards the target zone at 370. Bare in mind, that I am predicting a longer term bull presence, this is not short term in my professional opinion. Also bare in mind that price is likely to sustain highs in Litecoin due to the new Litepay, and when the hype is done, it could begin to "fade" to a mean reversion zone, to correspond (In average) with the other cryptocurrency asset prices. I will update this analysis when I receive above 40 likes.
BITFINEX:LTCUSD
by TomProTrader
34
ETH/USD - Becoming BullishWhat's up traders, Here we are analyzing ETH/USD on the 4H chart. ETH/USD has picked up some bullish momentum, since breaking out of a side-wards channel resistance at 848. At current, price is trading at 930, price broke out after supporting on the 20 and 50 moving average, suggesting that the bullish presence we are now seeing is legitimate. Even further that this happened on a higher low. This is the first sign of an uptrend forming and this is where the institutions and big money would be participating. Price will now likely test the side-wards resistance as a new support, but this isn't a deal breaker either way. Coupled with the fact that a retest would again coincide with the moving averages, this could provide a compelling support where once again the big money would be looking to speculate and accumulate. I am expecting Ethereum to recover lost ground now as the trend is having a legitimate turn. Bare in mind, that I am predicting a longer term bull presence. Also bare in mind that Ethereum is one of the most efficient safe haven currencies. So if you have a low amount of cash, Ethereum is your best bet for safety and simultaneous profitability. I will update this analysis when I receive above 40 likes.
BITFINEX:ETHUSDLong
by TomProTrader
20
LTC/USD - Trading OpportunitiesWhat's up traders, Here we have LTC/USD on the 4 Hour chart. LTC/USD has been in an up move for some time. Price has been making higher highs, most recently at 151. Price is picking up momentum to the upside. Price had an initial low at 105.20, and is since recovering. Price looks strong and expecting to see the highs soon. I am expecting Litecoin to continue with the current upside momentum, and I am expecting a move to at least 196. It could either break out now, or hit the target in the longer term. This trade could play out in 2 ways, I have outlined these below: -Price continues it's strong momentum to the upside, and hits the upside target at 196 in one strong swing move. Bare in mind however, that there would be at least a correction after the initial breakout of side-wards resistance around 157 before the up move commences. -Price retests the side-wards resistance turned support at around 157 after the move begins. This is not before having a retest at the lows with the horizontal support zone at 107. Bare in mind that seeing a retest at horizontal support at 107 it shows there's a lot of bears. II don't want to see this happen. I will updating this analysis if it exceeds 40 likes.
BITFINEX:LTCUSD
by TomProTrader
52
BTC/USD - Confirmed Buy OpportunityWhat's up traders, Here we are analyzing BTC/USD on the 4H chart. I posted a BTC/USD analysis a week ago, and the dynamics of the trade have changed now, hence I am eager to update this idea. At current, price is trading at 8520, supporting on the 20 moving average, and the 20 moving average is above the 50, suggesting a legitimate bullish presence. Price will now likely test the moving averages and use them as a new support level. Coupled with the fact we have a minor structure support, we could see price go to the upside target at 12130. I am expecting Bitcoin to recover lost ground now as the trend is having a legitimate turn. Bare in mind, thatI am predicting a longer term bull presence. I will update this analysis when I receive above 40 likes.
BITFINEX:BTCUSD
by TomProTrader
47
XRP/USD - Buy OpportunityHi traders, I hope you all had a wonderful weekend. Here we have XRP/USD on the 4 Hour chart. My closed group has been in this trade already for some time, with over 10% profit so far. With this in mind, I decided to share the chart on Tradingview, as I find Ripple highly interesting at the moment. XRP/USD appears to be in an up move. Price has recently had a higher low at 0.8940, and has picked up momentum since. Price is picking up momentum to the upside. Price had an initial low at 0.5870, and is since recovering. Price is trading above a resistance line turned support. Once the side-wards resistance line is tested properly, I am expecting some nice upside potential. I am expecting Bitcoin 4.56% to continue with the current upside momentum, and I am expecting a move to at least 1.6080. It will move further if the side-wards resistance turned support holds without a lower swing retest. This trade could play out in 2 ways, I have outlined these below: -Price continues it's strong momentum to the upside, and hits the upside target at 1.6080 in one strong swing move. Bare in mind if this does happen it is extremely likely that price will once again be going back into higher levels, and would show a significant change of investors sentiment in Cryptocurrency as a whole, and prices returning to their higher levels would be extremely likely. -Price retests the side-wards resistance turned support at around 0.8840 before the up move begins. Bare in mind that seeing a retest at horizontal support at 0.5800 would not be a good test. If price retests the lower support, it will still bounce and go to the upside, but it is less likely. The first scenario above is the ideal one for Bitcoin's best outcome. I will updating this analysis if it exceeds 40 likes.
by TomProTrader
21
BTC/USDT - Buy OpportunityHello traders, Here we have BTC/USDT on the 1H chart. BTC/USDT has been trading the downside considerably today after peaking at the horizontal resistance zone at 11600. It looks like the correction is over for now and the correction appears to have ended at 10260. Price is due for some upside. Price has been trading between the upper horizontal resistance zone at 11700 and 10260 for a considerable period of time. There is a side-wards support which I have illustrated on the chart which perfectly coincides with the horizontal support at 10260 so this could prove to be a good opportunity to buy. I am expecting Bitcoin to have an up move to the horizontal target zone at 11600. Breaking out of the down trend Bitcoin has been in for a long time. This trade could play out in 2 ways, I have outlined them below: -Price successfully tests the horizontal support at 10260, and simultaneously tests the side-wards support line simultaneously and then goes to the upside. Since there is a side-ward and horizontal support level in play, this makes the level harder to break, and could prove a nice level for price to finally start getting upside, to the upside to 11600. -Price retests the support zone at 10260, and the side-wards support line then bounces. The bounce could not have much momentum behind it, and could result in either: A double bottom; or an outright failure to the downside. Bare in mind, that a retest of the lower support at 10260 whist touching the side-wards support line is very beneficial for this trade, as it shows the support is strong and has been acknowledged by multiple traders. Also bare in mind if price fails at this support. This could be a serious, serious problem for Bitcoin. I will updating this analysis if it receives more than 40 likes.
by TomProTrader
44
ETH/USD - Trading OpportunitiesHello traders, Here we have ETH/USD on the 2H chart. ETH/USD has been trading the downside considerably after a peak ignited a considerable correction of the 16th January. The correction on ETH/USD ended the next day at the support zone at 760 on the 17th January. Price has broken out of the downtrend. Price has been having higher highs since the retest on the support on 17th January. The side-wards resistance seen above has been keeping price contained since 14th January, and I expect price to continue doing so with this new move also. I am expecting Ethereum to begin a continuation up move. There is also a chance it could test swing low first. This trade could play out in 2 ways, I have outlined them below: -Price successfully confirms a rounded bottom at current levels and goes to the upside impulsively, hitting the upper side-wards resistance line at 1220. -Price retests the lower swing low at 960, confirms it as a support, and then later confirms a double bottom. After this an up move will ensue and we will get an impulse leg to the side-wards resistance target at 1220. Bare in mind, that a retest of the lower support may indicate slightly more weakness than the first scenario, and this makes the extended target zone level at 1400 level much less likely. Also bare in mind if price hits the resistance line target and then retests, this will make it less likely that the extension target zone at 1400 less likely. I will updating this analysis if it receives more than 40 likes.
BITFINEX:ETHUSD
by TomProTrader
20
LTC/USD - Trading OpportunitiesWhat's up traders, Here we have LTC/USD on the 12H chart. LTC/USD has been trading within a consolidation range since a rally peaked and started corrected on 19th December. Price has recently been trading within a structure, between the horizontal support zone at 174.20 and a sidewards support turned resistance at 215 (At todays levels.) Price has broken out of the side-wards support. When price was testing the support previously it was making lower highs. But on the last retest of support on January 2, it is having clear a higher high, which indicated bullish momentum, but the move failed and side-wards support line was broken. I am expecting Litecoin to continue a break down. Before this, price could retest the previous side-wards support as resistance at 215 before the down move continues. This trade could play out in 2 days, I have outlined these below: -Price successfully breaks down in one down impulse, tests the horizontal support level at 172, and bounces to the upside target at 370. This is our preferred scenario as price has less work to do to hit the upside target if it bounces at the earliest opportunity. -Price breaks down impulsively, missing the horizontal support at 172, traveling to the lower primary support zone at 89.30, before bouncing to the upside target of 370. Bare in mind, that price will more likely hit the upside target if it hits the first horizontal support at 172, as if it goes to the secondary support zone, price has move work to do to reach the upside target. If price retests the side-wards support turned resistance before continuing to the horizontal support zones, this will ignite an oversold state, which is our preferred scenario. The more bears get their pessimism out of their systems before hitting the horizontal support targets, the better. I will updating this analysis if it receives more than 40 likes.
BITSTAMP:LTCUSD
by TomProTrader
34
ETH/BTC - Opportunity To BuyWhat's up traders, Here we have ETH/BTC on the 4H chart. ETH/BTC was recently trading in a flag structure, between a horizontal support level at 0.083000 and the upper side-wards resistance at 0.088700 (At pre breakout levels). Price has recently broken structure and it looks like it is ready for a new up move, to the upside target of 0.11250. Price has broken out of the side-wards resistance. When price was testing the support previously it was making lower lows. But on the last retest of support on January 12, it broke out of structure and has now given a clear higher high. There is potential for more upside in this trade. I am expecting Ethereum to continue an up move. Before this, price could retest the previous side-wards support level at 0.08400 before the up move to the target begins. This trade could play out in 2 days, I have outlined these below: -Price successfully continues to rally to the upside without retesting horizontal support. Price will hit the upside target at 0.112000. -Price retests the horizontal resistance zone at 0.084000 first, before going to the upside target of 0.112000. Bare in mind, that price will more likely hit the upside target level if it retests the support zone first (As outlined in my second scenario). A retest will create a short term wave pattern, which will bring price well on it's way to the upside target at 0.112000. If price breaks the support zone, it would suggest a sudden and severe weakness in the pair and it would not be a good idea to be a buyer anymore. I will updating this analysis if it receives more than 40 likes.
by TomProTrader
8
BTC/USD - Levels To WatchHello traders, I hope you've all had a good trading week. Here we have BTC/USD on the 8H chart. BTC/USD has been trading down since a higher low failed to hold up since the 7th January. Price has recently been trading within a structure, between the horizontal support zone at 12600, and at a side-wards resistance line. Both have been keeping price down. Price is currently breaking down. Each time price tests the side-wards resistance, it is making a new lower low within structure and getting weaker. But on the retest that is about to occur, it will find support at the 200 moving average, and a horizontal support zone simultaneously at 12310. This could be a strong enough support to keep price from falling further. I am expecting Bitcoin to eventually pick up momentum. I believe due to the continuous bearish pressure, waiting for a hint of price action will not enough to risk a trade. We want a compelling set up, and there is 2 scenarios which could give us the compelling set up that we badly need to see Bitcoin go to higher prices. This trade could play out in 2 days, I have outlined these below: -Price successfully retests the first support zone at 12460 and simultaneously hitting the 200 major moving average before a move up. This is the preferred scenario because if price action is hitting a strong support and major moving average and using as support, it implies the long term trend is favorably up. If this scenario occurs, it will bounce off the support zone and have a strong up move to the target zone at 19640. -Price breaks the first support zone (The scenario mentioned above) at 12460 and breaks down further and finds support at 8500. If price makes it this far, it will create a compelling buy up to the target zone at 19640. It is compelling because price will be extremely oversold if it can make it this low. Bare in mind that we need a compelling set up for a buy. Recently there's been extensive bearish activity, and it will be a beyond average trade set up to get in nicely. If price retests the first or second support level, it makes little difference anymore. Either the horizontal support and major moving average support, and the second scenario with an oversold are both scenarios Bitcoin will favor from. So let's be patient, wait for the right level, and trade safely. There has recently been huge interest in my private Telegram channel in the comments section of my previous analysis. Please be aware that I will ONLY accept queries regarding the private Telegram channel if you contact me directly on Telegram itself. Please contact me directly on Telegram regarding my private channel if you wish to join. -My Telegram ID is @Tomprotrader. I will not be accepting queries regarding Telegram channel from the comments section on my ideas, as the comments section is designed to talk about the analysis being shown. Let's keep all comments in this forum constructive :) I will updating this analysis if it receives more than 40 likes.
BITSTAMP:BTCUSD
by TomProTrader
36
BTC/USD - Trading OpportunitiesHello traders, I hope you've all had a successful trading week. Here we have BTC/USD on the 4H chart. BTC/USD has been trading within structure since a rally paused on the 17th December and began to correct. Price has recently been trading within a structure, between the horizontal support zone at 12600, and at a side-wards resistance, at 15210 (At current days level) Price has broken out of the side-wards resistance. When price was testing the support previously it was making higher lows. But on the last retest of support on January 2, it is having clear higher lows on smaller timeframes, which indicates bullish momentum which was an early clue that price was going to breakout. I am expecting Bitcoin to continue successfully breaking out. Before this, price will likely retest the sideways resistance, as a support line, before having a strong up move. This trade could play out in 2 days, I have outlined these below: -Price successfully breaks out and closes above resistance, and then retests the side-wards resistance as support at around 14800 before confirming and going to the upside, eventually reaching upside target at 19580. -Price breaks out, and does not retest the side-wards support zone. Instead, price continues to the highs and it corrects at a later stage, before reaching the target zone at 19580. Bare in mind, that price could move a lot further than the targets outlined above. The target above is merely an obstacle for price action as it is the previous swing high. If price retests the resistance line as support first, this might indicate slightly more weakness than if price immediately has an impulse leg and leaves structure behind. This is the behavior Bitcoin exhibits when in a legitimate uptrend. When it is legitimately impulsive to upside, it tens to ignore retests. I will updating this analysis if it receives more than 40 likes.
BITSTAMP:BTCUSDLong
by TomProTrader
285
DGB/BTC - Short Term ForecastHello traders, continuing the trading week with yet another Cryptocurrency analysis. Here we have DGB/BTC on the 4H chart. DGB/BTC has been trading within structure since an up move paused around the 23rd of December.. Price has been trading within a structure, with an side-wards upper resistance at current day levels at 0.000504, and this level is clearly pushing price action to make lower lows. Price has been testing the sideways resistance zone consistently since December, and has been testing a horizontal support structure since the same time. When price tests the horizontal support zone at 0.000408, it bounces to the upside, before hitting the side-wards resistance before making a lower low and retesting the support. I am expecting DigiByte to continue it's fall. I believe price may retest the side-wards resistance again, and then test horizontal support, eventually breaking the structure support and breaking down into the lower horizontal support zone at 0.00000260. This trade could play out in 2 days, I have outlined these below: -Price successfully retests the side-wards support level at around 0.00000600 level, before falling into the structure support zone, and having further upside test until price eventually loses all steam and collapses under structure horizontal support and going toward the target zone at 0.0000025. -Price immediately breaks lower now, breaks the horizontal structure support and goes to the target zone. Bare in mind, that price could move a lot further than these 2 targets outlined above. The targets above are OBSTACLES for price action, and not necessarily where will price will ultimately stop in this short term uptrend The more price tests the upper resistance and creates lower lows, the weaker the trend is confirmed to be. It could be a while before price plays out properly. I will updating this analysis if it receives more than 40 likes.
by TomProTrader
70
XRP/USD - Buy OpportunityWhats up traders, I hope you're all had a good trading week. Here we have XRP/USD on the 4H chart. XRP/USD has been trading rangebound after a strong up move that finished on the 30th December. Price has recently been trading on a side-wards support level at 1.9200, and looks like price action will continue to use the side-wards support until the up move begins. Price has been testing the support zone over the last 24 hours. When price is testing the support, it is having clear higher highs on smaller timeframes, indicating continued bull strength on the support level, further supporting an eventual breakout move to the highs. I am expecting Ripple to pick up some momentum soon. Before this, price might test the sideway support yet again at current levels, before it truly takes off. This trade could play out in 2 days, I have outlined these below: -Price successfully retests the side-wards support level at the 1.9000's level, before eventually picking up strong momentum, and achieving it's longer term target at 3.0800. -Price breaks lower, and tests a potential swing low level at 1.6180 (Which also coincides with Fibonacci retracement support) before eventually having the up move to the upside target at 3.0800. Bare in mind, that price could move a lot further than these 2 targets outlined above. The targets above are OBSTACLES for price action, and not necessarily where will price will ultimately stop in this short term uptrend If price tests the swing low first, bare in mind this might mean the up trend is generally weaker, and reaching the upside target of 3.0800 will not be as easy, and some wind can be expected on the way to upside target (In the form of corrective legs) I will updating this analysis if it receives more than 40 likes.
BITSTAMP:XRPUSDLong
by TomProTrader
268
IOT/USD - Buy OpportunityWhat's up traders, I hope you're all having a good weekend and are now preparing for your new years eve celebrations. Here we have IOT/USD on the 4H chart. IOT/USD appears to be ready for an up move. Iota has been trading within a sideways structure for a while. Recently there has been signs of bullish momentum each time the price action supports on the horizontal support zone between 2.40 and 3.00. If price manages to break and close above the sidewards resistance at around 3.7500 then it is a buy opportunity. It appears IOT/USD is now ready for an upside pop soon. Price is nearing the end of the structure, and means that price must go one way or the other. Price does actually have the possibility to go down. This will be a possibility is price successfully breaks and closes below the horizontal support zone labelled on my chart between 3.08 and 2.40. If this happens our buy opportunity is null and a sell opportunity can be found. If price breaks the sideways resistance at 3.7500, then I am expecting a breakout move to the highs, to the upside target of around 5.6000. Whichever way the price goes, I will be updating this analysis as it progresses.
BITFINEX:IOTUSD
by TomProTrader
22
BTC/USD - Level To WatchWhat's up traders, I hope you have all had wonderful new years celebrations. Here we have BTC/USD on the 1H chart. BTC/USD appears to be ready for an up move. Bitcoin has been trading sideways for a while. Recently there has been signs of a reversal at the horizontal support zone at around 12480. There is 2 side-wards resistance levels that are currently in control of price action. There is the long term side-wards resistance line at 12760, and a smaller channel resistance at 13600. Price needs to break both of these resistances to break out of this downward spiral. It appears BTC/USD is in a technical downtrend, but with a possibility of a bounce back soon. Price is showing a number of retests on horizontal support at 12530. Price ideally needs to pick up momentum soon in order to keep the uptrend alive. If price successfully breaks and closes above the sidewards resistance line at 13600, I am expecting an upside move to to target of 14600. I will be updating this analysis and providing a realtime buying signal if this gets 40 likes.
BITSTAMP:BTCUSD
by TomProTrader
50
BTC/USD - Short Term ForecastHello traders, Here we have BTC/USD on the 4H chart. BTC/USD is in a corrective move. Bitcoin has been trading downwards for a while. Recently, price has hot the 200 moving average, and is currently using it as a support. It appears BTC/USD is now ready for an upside move soon. Price is showing a nice corrective move so far, and I am expecting a bounce soon. Before this bounce begins, there is some corrective levels that need to be considered. I have listed the important support levels for a bounce below, and I will also outline my preferred scenario: 200 moving average support: 13880. If price corrects here and supports, this could show that the 200 moving average has been acknowledged and investors do not want to see price go below this level. Support zone #1: 12400-11200: This is the first support area I expect Bitcoin to hit, if the above support fails. If price hits this level and corrects, it would show this support zone is strong and valid (as its been used 3 times as support in recent times) and would signify the support is a good launch pad for a higher price move. Also, if price bounces here, we would also get the breakout of the sideways structure resistance, providing my preferred move. Support zone #2: 9100-7800: This is the deepest correction I can see for Bitcoin. If price gets to here, it has had to break a major support level (Backed up by Fibonacci confluence, structure support) and really shows a weakness in Bitcoin as a whole. If Bitcoin hits this bottom level I am expecting a bounce and an energetic up move, but this is my least preferred scenario as such a drop would make it unlikely that my swing high target at 19700 will ever get hit. If price successfully bounces eventually (The more shallow the correction the better) then I am expecting momentum to pick up, and provide a strong up move, to the previous swing high level at 19670. Bare in mind that the deeper the correction, the further price has to climb to achieve the latter target. So it's important to use this analysis as a guide but ultimately mirror your own. I will be updating this analysis if it gets above 40 likes.
BITSTAMP:BTCUSD
by TomProTrader
27
ETH/USD - Levels To WatchWhats up traders, I hope you're all had a good trading week. Here we have ETH/USD on the 2H chart. ETH/USD has been trading in a consolidation type structure since price had a large downside correction previously. Price has been trading in a structure with a horizontal resistance zone, and a sideway support level, and both of these levels have been dictating price action since the 22nd December. Price is continuously testing the horizontal resistance zone, and testing the lower side-wards support zone. When price is testing the support, it is having clear higher lows, which I expect to eventually be the reason Ethereum breaks out of the current structure level (When price bounces on a higher low of structure, when price is also near the resistance zone.) I am expecting Ethereum to pick up some momentum soon. Before this, price might test the sideway support (yet forming a new higher low) at around 690, before a bounce. When the bounce comes into play, price needs to combat 2 above resistance zones. These are: -Resistance zone 1 / Target 1: Between 750 and 780. -Resistance zone 2 / Target 2: Between 840 and 870. Bare in mind, that price could move a lot further than these 2 targets outlined above. The targets above are OBSTACLES for price action, and not necessarily where will price will ultimately stop in this short term uptrend If price breaks the top resistance zone, there is actually a possibility for an up move all the way to 1110.00. But this would probably take quite some time to materialize, but still, possible. I will updating this analysis if it receives more than 40 likes.
BITSTAMP:ETHUSD
by TomProTrader
45