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Daily review of ETH interval 4HHello everyone, let's look at the ETH to USDT chart on the four hour timeframe. As you can see, the price is moving above the local uptrend line. Let's start with the support line and as you can see the first support in the near future is $1612, if the support is broken then the next support is $1590, $1569 and $1539. Now let's move to the resistance line, as you can see the first resistance is $1628, if you manage to break it, the next resistance will be $1653, $1675 and $1696. Looking at the CHOP indicator, we see that there is a lot of energy for the next move in the four-hour interval, the MACD indicates a local downtrend, while the RSI also shows a rebound.
by cryptodailyuk
Correction of BitcoinHello Traders As you can see in the chart above, Bitcoin is currently in a resistance zone which can cause capitulation. I Screenshotted a metric from Glassnode called addresses with a supply of more than 1K, Which decreased drastically in the previous bitcoin bullish movement; this alone can confirm the technical scenario. On the network data side, I saw most of the bitcoins that moved in the last day were mostly in profits—another risk to the price. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too. Good luck.
by Crypto_MD
Daily review of BTC interval 1HHello everyone, let's look at the BTC to USDT chart on a one hour timeframe. As you can see, the price is moving above the local uptrend line. Let's start with the support line and as you can see the first support in the near future is $20665, if the support is broken then the next support is $20482, $20338 and $20190. Now let's go from the resistance line, as you can see the first resistance is $20878, if you manage to break it the next resistance will be $21174 and $21646. Looking at the CHOP indicator, we see that in one hour interval, there is energy for further movement, the MACD indicates an uptrend, and the RSI has a small rebound and room for further growth.
by cryptodailyuk
1
INFLATION RATE AND BTC MOONHello Traders As you know, the inflation rate decreased to 6% in the past day, this news created a significant bullish movement for Bitcoin Price, but don't get FOMO, Yet. As you can see Bitcoin's overall Technical shows that, the price is still in a bearish phase in the bigger picture, and is currently on an excellent resistance level, both Dynamic and static. On the Onchan side, I screenshotted a metric called Net realized Profit/Loss, Net Realized Profit/Loss is the net profit or loss of all moved coins, the value shows that the whole network was moving their bitcoins in profits today, which can cause a reversal in the bullish trend. Overall I can see a Correction or consolidation for bitcoin before the bullish phase. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too. Good luck.
by Crypto_MD
2
XRPUSD - Overbought - ShortOn the chart of Ripple (XRP) we can see the price is approaching a overbought condition on 4h timeframe. This would mean when the overbought condition is confirmed the price will retrace. The three indicator used are the Bollinger Bands, Relative Strenght Index and the Stochastics. At the moment the RSI needs to increase a little bit more. For now the price will move up and once it has reached the resitance the price will drop. See all further details on the chart. Goodluck!
BITSTAMP:XRPUSDShort
by vf_investment
6
Daily review of BTC interval 4HHello everyone, let's look at the BTC to USDT chart on the four hour time frame. As you can see, the price is moving above the local uptrend line. Let's start with the support line and as you can see the first support in the near future is $17214, if the support is broken then the next support is $17169 and $17111. Now let's go from the resistance line, as you can see the first resistance is $17311, if you manage to break it, the next resistance will be $17367, $17426 and $17505. Looking at the CHOP indicator, we see that the energy is slowly increasing, the MACD confirms the uptrend, while the RSI is moving in the upper range, which may indicate a small correction.
COINBASE:BTCUSD
by cryptodailyuk
4
Risk in the marketHello Traders Bitcoin moved yesterday as we predicted with on-chain data; you can see it in the previous idea. I screenshotted a metric today called ASOL from Galssnode; Average Spent Output Lifespan (ASOL) is the average age (in days) of spent transaction outputs. This measured value has spiked today, which means that there will be a possible risk to the price. On the technical side, the price is still in a supply zone, so I believe the price can consolidate today and even maybe have a correction. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too. Good luck.
by Crypto_MD
5
Correction and Pullback of BITCOINHello Traders As you can see in the chart above price has broken the higher levels, and now it needs a correction to continue its movement. On the Onchain side, I screenshotted a metric from Glassnode called Long term holders SOPR; the Spent Output Profit Ratio (SOPR) is computed by dividing the realized value (in USD) divided by the value at creation (USD) of a spent output. Or: price sold / price paid and LTH SOPR only calculate it with wallets older than 155 days which are long-term holders. The value in the chart shows that long-term holders are spending their bitcoins in 5x Profit since they bought; this alone can create a risk to the price since they are long-term holders who sold their bitcoins. Price can see a slightly higher level and start to correct itself, and the correction might continue if the holders keep selling their bitcoins. Note that this is an Intraday analysis and is only valid for a couple of days or even hours. ------------------------------------------------------------------------ What is your opinion? Comment below. If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too. Good luck.
by Crypto_MD
3