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.
Tomprotrader
BTC/USD - Levels To WatchWhat's up traders,
Here we have BTC/USD on the 4H chart.
BTC/USD appears to be in a corrective move. Price has recently been trading within a rangebound structure, between a horizontal support zone at 9300, and a upper horizontal resistance at 14100.
Price is picking up momentum to the downside. Price is weakened and there is a possibility of testing the bottom support boundary at 9300. If this happens it would show a weakness in the pair from a technical perspective.
I am expecting Bitcoin to either have a 3 wave up move from current levels, or a correction to the long term structure before the upside.
This trade could play out in 2 days, I have outlined these below:
-Price finds support at the minor consolidation zone, at 11300. If price successfully supports here, it would show a massive enthusiasm for Bitcoin, and this would ignite a very strong up move, which will bring price to the target at 14730.
-Price breaks down, hits the longer term horizontal support zone at 9300 before retesting, and coming back to the upside. If this set up plays out, I am expecting the up move to the upside horizontal target zone.
Bare in mind, the first scenario above is preferred to the second. The first scenario indicates that there is momentum in the short term, which is what Bitcoin needs. If this set up plays out, I believe we will need a significant amount of volume.
If price retests the lower support, it will still bounce and go to the upside. But, to reach the horizontal upside target at 14100 might prove more difficult, as we would need significant bullish participation for an extended period of time to reach the level.
I will updating this analysis if it receives more than 40 likes.
LTC/USD - Buy OpportunityWhat's up traders,
Here we have LTC/USD on the 4H chart.
LTC/USD appears to be in an up move. Price recently hit a support zone at 138, giving a lowest low on 17th January. Since then, price has had a higher high on the 23rd January, and now looks like it is having some upside momentum.
Price is picking up momentum to the upside.. Price is picking up strength after a higher low at 170. Regardless of the higher low, there is still a possibility of testing the horizontal support zone again at 138 before the upside momentum begins.
I am expecting Litecoin to complete an up move soon, breaking side-wards resistance, and hitting the target zone at 309.
This trade could play out in 2 days, I have outlined these below:
-Price breaks the higher low and finds momentum. Price then breaks the side-wards resistance level at 181, and then retests the resistance line as a new support, before hitting the upside target at 309.
-Price stalls at the side-wards resistance line at 181, and retests the horizontal support structure at 139. After hitting the lows it will ignite an up move, eventually breaking out of the side-wards resistance at 181 and breaking to the upside target to 309.
Bare in mind, the first scenario above is preferred to the second. The first scenario would validate the higher low meaning the momentum seem recently in Litecoin is legitimate, and will support an up move.
If price retests the lower support, it will still bounce and get to the highs, but it will most likely not achieve 309 unless there is significant bullish participation.
I will updating this analysis if it receives more than 40 likes.
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.
XRP/USD - Buy OpportunityHello traders,
Here we have XRP/USD on the 1H chart.
XRP/USD has been trading the downside considerably after a peak ignited a correction of the 16th January. Price has recently been trading within a structure since between a side-wards resistance line, and a horizontal support level that has recently come into play.
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. The side-wards line is very likely to be retested as support.
I am expecting Ripple to begin an up move. Before this it's highly likely that price action will retest the side-wards resistance line as a support at 1.1230 before the up move begins.
This trade could play out in 2 ways, I have outlined these below:
-Price successfully breaks out, and retests the side-wards resistance line at 1.1230. Price then has an up move to the target zone at 1.4790.
-Price breaks impulsively to the upside. It ignores structure retesting and goes to the upside target at 1.4790.
Bare in mind, that a retest of side-wards resistance turned support makes this trade significantly more reliable.
If price retests the side-wards resistance turned support and breaks about the 20 moving average before correcting, this is an impulsive state.
I will updating this analysis if it receives more than 40 likes.
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.
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.
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.
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I will updating this analysis if it receives more than 40 likes.
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.
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.
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.
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.
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.
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.
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.
AUD/CHF -Sell OpportunityWhat's up traders, I hope you're all having a good trading week.
Here we have AUD/CHF on the 1H chart.
AUD/CHF recently had a bearish impulse leg after a rally to the highs previously. Since then price has a small correction and has since started falling into the lows again. It looks like the downside will continue.
When price had it's correction, price hit the Fibonacci key retracement resistance level and once hit, there was a compelling bearish engulfing signal, indicating this retracement level was acting as a strong resistance ceiling. Since then, price has continued to fall.
Price already had a bearish outlook. When also coupled with the breakout of the support channel, this confirms the bears are around for the long run.
There is 2 scenarios for how this trade could play out. See below:
-Price breaks to the downside without pausing, and hits one of our support target levels at either: 0.7580, or, the extended support level at 0.7540.
-Price breaks down a little more, before having an upside move to retest the previous support turned resistance channel at 0.7620 before the down move begins. This is my preferred scenario, as a retest confirms the breakdown is legitimate and still in full force. It also allows us to get a good entry level for this trade.
Bare in mind, that when target #1 is hit, it will likely bounce, and possibly even retest the side-wards channel resistance at 0.7610 before the breakdown to the extension target.
I will be updating this analysis if it receives 40 likes.
AUD/USD - Trading OpportunitiesWhats up traders, I hope you are all having a good start to your trading week.
Here we have AUD/USD on the 4H chart.
Price has recently been rallying up to the resistance zone between 0.7670 and 0.7700. Price is currently sitting in the resistance zone with bullish momentum. Will it manage to break out the resistance zone highs in this move?
At this present moment, there is 2 primary outcomes I have in mind for the AUD/USD trade. Price will either break the resistance zone and setup for a potential rally, or correct, and have a later move.
The likely trading scenarios are:
- Price breaks horizontal resistance zone 0.7700 and rallies to the upside. We can either seek entry aggressively on the resistance zone breakout, or we can wait for a price correction so it can retest the previous horizontal resistance as a new horizontal support.
- Price fails to rally out of resistance zone, and has a short term correction before the breakout. If this happens I will be watching for a bounce in the consolidation zone (The price zone just below the current horizontal resistance) before seeking another buy set up.
I am expecting the breakout of the horizontal resistance to occur, and I will be waiting for the retest at the horizontal support level before the next buy set up. But if this doesn't work out, I will be using my alternative scenario as seen above.
I will be keeping a sharp eye on AUD/USD next week.
I will be updating my Bitcoin post if this idea achieves enough likes.
ETH/USD - Trading OpportunitiesHello traders,
Here we have ETH/USD on the 1H chart.
ETH/USD appears to be ready for an up move. Ethereum 1.28% has been trading sideways for a while. Recently there has been signs of hidden bullish momentum at the resistance zone at 767.80. If price breaks the resistance zone , it is a buy opportunity.
It appears ETH/USD is now ready for an upside pop soon. Price is showing a very nice rounded bottom at the resistance zone , and is showing strong reversal candlesticks . The rounded bottom at resistance indicates that price action could have the necessary momentum for a breakout of the resistance zone .
If price successfully breaks and closes above the sidewards resistance line at 767, I am expecting an up move to the upside target of 838.
Bare in mind that price could retest the lows before the up move if it fails to break the resistance zone in this move.
I will be updating this analysis and providing a realtime buying signal if this gets 40 likes.
USD/CHF - Sell OpportunityWhats up traders, I hope you all had a wonderful Christmas and are now refreshed for a fresh week of trading.
Here we have USD/CHF on the 4H chart.
USD/CHF has been in a gentle downside correction move after the strong upside rally that previously went up to 0.9960. Price has been having a gentle downside correction ever since, and I am expecting price to have a down move and a bounce soon.
After this correction finishes, there is a possibility of a bounce, which could be a good up move opportunity. Price is currently at a side-wards resistance level at 0.9890, and price has began to show reversal candlesticks . The candles could suggest a change of command from the bulls to the bears, and I believe the bears could potentially capture this move if the next few candles get the better of the bulls.
If price fails at the current side-wards resistance at 0.9890, price could move down to one of the support zones outlined on my chart.
If price begins a reversal at the current resistance , I am expecting a corrective down move to the structure target of 0.9830. If price breaks down and hits the second support zone on my chart, I am expecting price to move down to 0.9730.
For those of you who use indicators on their charts, there is also a compelling bearish divergence on the Stochastic indicator. This strongly supports the down move in my analysis.
I will be updating this analysis if it exceeds 30 likes.
XRP/USD - Buy OpportunityHello traders,
Here we have XRP/USD on the 1H chart.
XRP/USD has had a correction move, after a long term upside rally, which I predicted in my previous analysis and we got the move (See my related ideas for details of this analysis)
After the downside correction, it appears XRP/USD is ready for a new up move. Since price has hit a strong structure support , there has been signals of downtrend slowing and reversal candlesticks showing bears are losing steam. The candlesticks are showing the beginnings of a change of command from bears to the bulls.
I believe that price has found a true bottom. If so, this can be a great launch pad to consider buying XRP/USD to the upside . I am watching XRP/USD closely, and won't hesitate to make a buy if it sets up properly.
I am expecting an up move up to begin, to reach target of at least 1.2520. If price successfully breaks side-wards support at 0.9950, price could extend further to the highs. If price does not succeed in breaking the sidewards resistance, then price could retest the horizontal support zone at 0.8810 before another bounce and a move to the highs at a later stage. If the second alternative plays out, I will be updating this analysis accordingly.
In my related ideas, I have posted my other recent Cryptocurrency ideas. I recommend taking a look so you can fully understand how I came to my new Cryptocurrency analysis.
I will be updating this analysis if it exceeds 40 likes.
LTC/USD - Buy OpportunityWhat's up traders,
Here we have LTC/USD on the 4H chart.
LTC/USD appears to be ready for an up move. Litecoin has recently been in a gentle downside correction after the strong up move previously. Since then, I have been watching for levels for it to bounce.
It appears LTC/USD is now ready for a nice up move. Price recently retested a strong horizontal support zone at 244.00, and showed strong reversal candlesticks at the lows. This indicated there could be sufficient momentum to break the sidewards resistance at 271 and break to the upside.
If price successfully breaks and closes above the sidewards resistance line at 271, I am expecting an up move to the upside target of 364.
Below I have posted my other Cryptocurrency related ideas. I would appreciate it if you could view my other content an leave a like.
I will updating this analysis if it exceeds 40 likes.
BTC/USDT - Current Level Is KeyHello traders, I hope you're all having a wonderful Christmas.
Here we have BTC/USDT on the 12H chart.
BTC/USDT has been in a correction move since the long term uptrend. More recently price has bounced on a key horizontal support zone at 11980, and is now bouncing a second time at this level. Price could consolidate at this support.
As it stands, it appears that BTC/USDT is ready for an up move. Price is not only at a horizontal resistance, but is also at a point of Fibonacci key retracement support. And there is also a Fibonacci support confluence! This means that BTC/USDT is currently trading at a major support level. This in itself is no guarantee of a up move, but, it does tell us one thing. If BTC/USDT is able to break below such a strong support, what does this say about the trend integrity of Bitcoin? It could tell us BTC/USD is obviously quite weak.
I am expecting an up move eventually. It may well break below the current support and go to the lower support zone at 7550. But as mentioned above, if it breaks the current support zone it does say a lot about the true strength of Bitcoin as a whole.
I now think, a break below current support says not only a lot about price, but a lot about investors psychology and investors sentiment towards this Cryptocurrency. All bets are off for a long term uptrend if such a monumental level is broken, as it is basically an agreement that the uptrend will stay in place.
BTC/USD - Signs Of MomentumHello traders,
Here we have BTC/USD on the 4H chart.
BTC/USD has completed a correction move recently, and has since began rallying to the upside, which I predicted in my previous analysis and we have got the move (See my related ideas for details of this analysis)
After the upside pop, I have a slightly different perspective to my analysis. Since price broke to the upside, it has met a side-wards resistance at 14620. The candlesticks are showing strong upside momentum, and there is a good chance price has the strength to breakout. This isn't to say it is a guarantee of a new up trend, but is certainly reassuring after the big drop seen in Bitcoin recently.
I believe that price has found a true bottom, that BTC/USD will eventually break out to the upside, breaking the sideways resistance, and going back to it's upside again.
There is 2 ways this trade will play out, I have outlined these below:
-Price successfully breaks the side-wards resistance at 14620, and travels to the upside. This scenario would be much preferred if price successfully retests the side-wards resistance level as a new support. It would be even better if price successfully retests the resistance channel, and the horizontal support zone highs at 13150. If price confirms at both support levels, this will be a much more reliable up move if it retests both support levels, rather than just 1.
-Price stalls at the side-wards resistance level at 14620 and retests the horizontal support zone before eventually breaking the side-wards resistance at another time.
In my related ideas, I have posted my other recent Cryptocurrency ideas. I recommend taking a look so you can fully understand how I came to my new Cryptocurrency analysis.
I will be updating this analysis if it exceeds 40 likes.