Bitcoin is just hanging about. BTCUSD is still goofing around the upper borderline (red dashed line) of the down channel. It is also near Pivot point (9267) and we expect another day of sideways movement.
Sidewaysmovement
More sideways movement.Yesterday, the expected start of the major down move did not happen. It seems that BTCUSD will test the resistance at 10128 once again.
Zero MomentumWe have to remember, that there are three directions in a technical chart analysis: bullish, bearish and sideways.
To get the big picture, I analyze the monthly chart of Bitcoin today. We realize that on the monthly chart, the down channel is not yet broken. Furthermore, the last three months closes are approximately in the middle (blue square) of the high and low, which are marked with a blue line. This means nothing but there is no momentum in either direction. For already three months, BTCUSD is in a sideways movement and the swings are getting smaller and smaller. However, during the month of March, there has to be a decision. Will it break out on the upper side of the channel and either move upwards or continue its sideways movement? Alternatively, will the red upper channel main resistance line be strong enough for pushing the price of Bitcoin further down to 1140 USD at the green channel main support line?
I still stay at the sideline until a new trend establishes. In such a sideways movement, losing money in narrow swing trades is highly probable.
No Momentum, just sideways movement.Good Morning. BTCUSD is still in a sideways channel. There is not much momentum in either direction.
Pivot Point is at 11366, right in the middle of the sideways channel.
VERGE to BTC pair, long way to go before we see new ATH?This is a different approach to previously charted analyses of XVG to BTC pairs.
However, based on past pattern movement, I suspect that in the near future we will see a mini pump, this may be of a larger degree wave B, WHICH MEANS we will be seeking a lower low for C, if that is the case. But I think that before we can see new ATH relative to BTC than we will need to wait it out and allow for more time to pass.
Although this feels like forever, its only been like 7 weeks of straight red....NBD :)
--->NOOOOOT. Its been hell, but look back and you will see 400+ days of no price movement, and then it comes to the last price action we saw, and it was about 188 days in between events. Now we have not even experienced 80 days of loss and/or sideways action...meaning we could see a repeat pattern occur and another 80 days or so until we hit new highs.
If it does take that route, and mirror the previous patterns seen, it would bring us to May....long time if you are holding a bag and watching BTC soar, but a short time if you are in this game for the long haul.
Not investment advice, but if we see another impulse wave up, im not hesitating to sell.
Pulling that trigger quick as all previous price action has indicated that after a pump on XVGBTC you have multiple re-entry points that could be favorable positions.
If BTCUSDT drops we may be able to see some recovery of the alts, they have been slaughtered.
CRUCIAL POINT TODAY FOR ICX/BTC (TREND & CHANNEL ANALYSIS)In this 40-day ICX/BTC chart, the most important thing to consider right now is (2). If this orange dotted line is broken with enough aggressiveness, it will be very hard to obtain a bullish breakout any time soon. The (3) Long Term Bullish Support has already been broken and much momentum will be needed to break past that point again and go on upwards towards the historic resistance price of .0008359. For now, we should just wait and see if there is any sideways action around .0006587. If it goes either way hard enough (as marked by the pink arrows), we'll know exactly what this altcoin will do in the near-future and when to buy. Needless to say, a lot of this action is obviously correlated to BTC's individual action and the market's action as a whole. Setting a stop-loss at this point if you've already invested in this particular asset, would be in our personal opinion, premature. We should wait a couple days before jumping to any conclusions. Be smart and do your own research.
The views expressed in this TA are an educational resource of perspective, NOT financial advice.
Ripple Stuck In A Sideways TriangleRipple is sideways already for a long time and it follows our count (triangle into wave B) perfectly. For now it looks very clear. Even if it lost 50% since August 23, decline is still in three waves. So Ripple bounced from our pojected wave C support and we expect now three waves up into wave D back to 61,8% fibonacci retracement and 0.24-0.25 levels.
ew-forecast.com <- Visit for more Cryptocurrencies FREE Analysis!!
EURJPY 4HR - 2 POTENTIAL PATTERN TRADESThe EURJPY has been in consolidation over the past few months and is currently trading at a level resting between previous structure lows & previous structure highs. Because we are not in a confirmed trend, I have no reason to set myself for a buying or selling opportunity at this level. The levels that I do have on my radar are the highs and lows of our structure consolidation & at each of those levels we happen to have the projected "D" completion point of a potential advanced pattern formation.
Akil
So Glad the NFL is Back!!!
