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Tomprotrader

BTC/USD - Where To BuyBitcoin is moving down just as expected in my previous analysis (See related ideas for more information on this analysis). Price is moving perfectly in line with all of my previous Bitcoin analysis! Now we've perfectly gaged the down move, I have zoomed into the 1 hour chart to show the levels of where Bitcoin is trapped between, to give us a successful buy for being so patient! Swiftly moving on to the analysis, Bitcoin on the hourly chart has clearly broken a side-wards support line at 6145 and is comfortably trading downwards towards a downside target of 5480. Bitcoin is in a strong short term 3 wave flag pattern as the bears continue to put huge pressure on the market, pushing weak hands out of the market. As more and more weak hands are shoved out of the market, weak hands are cashing in their Bitcoin, and converting to fiat, giving whales more ammunition to manipulate the marketplace! It's something nobody can control, but with patience, discipline and waiting for the right levels to buy, anyone can easily profit significantly from trading Cryptocurrency. Bear in mind, price could test the side-wards support line as a new resistance before going to the downside target of 5480. Also bear in mind that the SUPPORT ZONE outlined on my chart is the minimum conventional measure move target for a conventional flag pattern. This doesn't mean it will necessarily stop at this level, nor is it any guarantee that it will go any lower, it is merely the level it's expected to stop as per measure move rules. The idea will continue to be updated if this idea receives sufficient attention. Please leave a LIKE and follow. I'd really appreciate it.
by TomProTrader
46
ETH/USD - Live UpdateEthereum showing continued weakness at the horizontal support zone, as it trades along the bottom of the zone between 503 and 460. Price at present shows a small green candle, showing bulls have at least acknowledged the support level, and it depends how the candle closes today as to determine whether the current horizontal support level will hold. Ethereum is looking technically weak after hitting and breaking down consistently since hitting side-wards resistance line on 21 June at 545. I expect price to either close as a green candle today and stay in the first support zone, or, close lower, break below the first horizontal support zone and then go the lower horizontal support zone between 363 and 335. Bear in mind that despite the current horizontal support zone holding with a bullish harami, I don't really have much faith in it. The breakdown looks strong since hitting the side-wards resistance line and I don't think it will stop this soon. Leave a LIKE and follow. I would really appreciate it. :-)
BITFINEX:ETHUSD
by TomProTrader
16
BTC/USD - Market RundownThis is a follow up analysis of my previous Bitcoin analysis (See related ideas below for information regarding this). Price failed to stay above 6720 and closed below this level, therefore giving a bearish sentiment for the time being. Price is currently trading at a horizontal support level between 6430 and 5910, and looks weak. There is multiple bear candlesticks at this horizontal support zone implying we could get more downside here if it does not bounce within this zone. There is a lower zone between 4980 and 4470 if price fails at this level, which could be a potential level to be a buyer. As well as the horizontal support levels that are struggling, there is also a side-wards resistance level that could continue to keep price down, had price attempt to rally to the upside. Bear in mind that price looks weak, and I doubt it'll have any large upside soon. A sidenote: Anyone who trades only Cryptocurrency is going to have a difficult month at minimum, and could be longer. This is why everyone should also trade FOREX and equities also, to avoid you taking losses unnecessarily by relying on a single coin, being Bitcoin for your profits. If you only trade one coin that brings every other coin down, how will you ever expect to make money? If the market downtrends for a long time, you're stuck in the mud as long as big money wants you to be. A highly unintelligent way to trade. Please leave a LIKE and follow. I would really appreciate it.
BITFINEX:BTCUSD
by TomProTrader
45
LTC/USD - Buy Opportunity Bitcoin moved up exactly as we predicted in my previous analysis (See related ideas for more information), so now it is time to analyze the other high market cap cryptocurrencies Litecoin and Ethereum to get an idea of market sentiment! In this analysis we are going to be analyzing Litecoin. Swiftly moving on, let's analyze Litecoin on the 8 hour chart. At present, Litecoin is trading at the horizontal support zone, which also converges with the side-wards resistance line at 97.87. Price is accumulating at this level, and soon I am expecting an upside reaction. The side-wards resistance is one level that is keeping price down, but also the accumulation consolidation break level of 102.20 needs to be broken before upside is officially confirmed. Price action is currently supporting right on the 20 moving average which suggests at least in the short term, we will get further upside. If price continues from here, it could continue to seek support on the 20 moving average for future retests, and eventually begin an up move which potentially could see us up to 126.80. Bear in mind that price can easily test 90.40 before going to the upside, if the 20 moving average support level is broken at 96.20. Please leave a LIKE and FOLLOW. This is the only reason I post any analysis. Thanks for all your support.
BITFINEX:LTCUSD
by TomProTrader
10
BTC/USD - Levels To BuyA follow up analysis of Bitcoin! Price is moving perfectly with our previous Bitcoin analysis, and we are waiting for the upside target to be achieved. In our previous analysis, we predicted the upside move will begin, and then it did! Now we've perfectly gaged the beginning of the up move, I am going to look for entry levels to either add to a long position, or consider a safe long position. Swiftly moving on to the analysis, Bitcoin on the 8 hour chart is trading at nearby the 20 moving average zone between 6530, and there is a lower side-wards support zone below at 6447. I am now watching Bitcoin's movement very carefully within this zone to see if candles can show a reversal so I can be a buyer! There's a short term lower side-wards support zone at 6447, where price could fall before the up move itself properly begins. Price remains in structure. Although a bottom has been found, there is still a lot of conflict at the lows. Anyone expecting a massive move up anytime soon will be disappointed. Bear in mind if we hit the side-wards support line at 6447, then I perceive it as more likely that price will go the upside. This is due to price being at a safe technical level that can be taken advantage of, the whales are likely looking for a level that is technically favorable. I will continue to update this analysis if enough people request it. Please leave a LIKE and follow, these are the reason I take my time to post my analysis!
BITFINEX:BTCUSD
by TomProTrader
55
ETH/USD - Live UpdateEthereum is moving very well since bouncing at a compelling horizontal support zone between 500 and 469. Price has moved perfectly in accordance with my previous analysis so far (See related ideas below for more details of this), and I am expecting positive results to continue as per my previous analysis! Swiftly moving on, when analyzing Ethereum, it is clear there has been some strong bullish momentum up to a long term side-wards resistance at 540. Price is trading right against the resistance line, and still looks strong for possibility of more upside. There is 2 ways Price will now move: - Price breaks above the side-wards resistance line at 540, retests the side-wards resistance as a new support before bouncing and going to the upside, to the upside target at 620. - Price bounces at the side-wards resistance level at 540, and breaks lower into structure once again to approximately 520 before bouncing up again, breaking structure and finding the upside target. Bear in mind that is the second scenario plays out, it'll take longer to hit the upside target at 620. It'll also have less probability of hitting the target if we go lower, due to needing more bullish participation as well as needing bulls around for a longer period of time. With Bitcoin's recent lack of momentum, that's unfavorable. Please leave a LIKE and FOLLOW. I'd really appreciate it.
BITFINEX:ETHUSD
by TomProTrader
14
BTC/USD - Levels To BuyIn my previous analysis I predicted an upside move from a horizontal support zone (between 6300 and 6210) which did happen, however we did fail to hit the top resistance zone target. After the small move up, it appears momentum has been lost, and price is once again falling back towards the horizontal support zone mentioned. I need to see price bounce on the horizontal support zone before we see higher prices again. As it stands, price is falling after reversal candlesticks showed a lack of steam from the bulls. There is also strong 20 moving average resistance, and a Fibonacci retracement resistance level that were hit, supporting we've hit a ceiling for the time being, and will be going lower before the next buy. I am expecting price to now stall down to either the horizontal support zone between 6300 and 6210, or lower, to the long term side-wards support line at 5390. Although we are not getting big up moves, at least we're profiting from the small up moves I am predicting, which means even though the market is down, we are still taking home some nice profits, which is great. Be nimble in the market, and it will treat you well. I will continue to update this analysis providing enough people request it. Please leave a LIKE and follow, this is my entire motivation to post !
BITFINEX:BTCUSD
by TomProTrader
24
ETH/USD - Levels To BuyAnother follow up analysis of Ethereum! Price is moving perfectly with our previous Ethereum analysis! In our previous analysis, we predicted a support level where price could bounce bounce for a buy, then we predicted levels where price would go to! So we have perfectly predicted Ethereum's movement so far. Now we've perfectly gaged the down move, I am looking for specific buy levels in order for me to profit from waiting. Swiftly moving on to the analysis, Ethereum on the 12 hour chart is trading at our previously predicted support zone between 496 and 472. I am now watching Ethereum's movement very carefully within this zone to see if candles can show a reversal so I can be a buyer! There's a short term lower horizontal support zone between 390 and 364 which will be Ethereums next bounce level if the current support level fails. If this support also fails, then we need to reconsider Ethereums intermediate trend before making any buy considerations. Bare in mind if we hit the secondary support zone at 390 and 364, then price is likely to rise, but only up to the first horizontal support zone between 496 and 472, as this level would likely become resistance. I will continue to update this analysis if enough people request it. Please leave a LIKE and follow, these are the reason I take my time to post my analysis!
BITFINEX:ETHUSD
by TomProTrader
38
BTC/USD - Live UpdateI hope you're all having a good weekend! Follow up analysis motivated by Bitcoin's crucial move last night where we visited a horizontal support zone between 6300 and 6220. In my previous analysis I was predicting a potential buy opportunity where the horizontal support zone and side-wards support zone converged between 6510 and 6470. I also stated that if we broke below this level, that we would likely go lower once again to a support zone between 6100 and 5900. As it stands, price broke down below the side-wards support level and turned into resistance, and landed right at the top of where I predicted the lower support zone at 6100, before showing a compelling downside rejection candlestick with the upside following. This shows there are a lot of bulls still around in the market place. I am expecting 1 of 2 outcomes to occur. Either price will continue it's upside rally to 6670 in an upward impulse leg, or; price will find resistance at the 20 and 50 moving average, bounce back down again to the lows of the support zone, and then eventually pick up momentum for an upside trade to the target of 6670. Bare in mind with the first scenario, it will get to target a lot faster than scenario 2. As scenario 2 not only needs time to correct, but there will be accumulation before price rallies again as a confidence factor. I will continue to update this analysis providing enough people request it. Please leave a LIKE and follow, this is the only reason I post my analysis here!
BITFINEX:BTCUSD
by TomProTrader
63
Litecoin - Market SummaryEveryone has been very focussed on Bitcoin lately, we need to also pay attention to other high market cap coins so that we have a deeper understanding of the entire cryptocurrency market. Litecoin is currently trading in what appears to be a flag structure. Price us currently under a strong side-wards resistance at 0.01490, and this level also coincides with the 50 and 20 moving average, showing significant resistance at this level. Despite the strong resistance, there is some strong candles within structure implying there are still bulls around. This compels me to seek a couple of ideal buying spots with some localized structure. Price will run in either one of 2 ways. They are: - Price bounces at the first horizontal support zone between 0.01470 and 0.01460 and bounces to the upside, breaking structure and eventually hitting target level at 0.01530. - Price breaks the first support zone between 0.01470 and 0.01460, and breaks down further to the next support zone between 0.01435 and 0.01425. Bare in mind if price breaks the first horizontal support zone between 0.01470 and 0.01460, then it will likely break lower to the lower support boundary between 0.01435 and 0.01425 before the upside resumes. If we hit the lower support zone, it may use the first horizontal support zone as a new resistance, so longs from the bottom zone should be nimble and intelligently bought with a thorough trading plan as it could be easy to lose capital. I will continue to update this analysis providing enough people request it. Please leave a LIKE and follow, I would really appreciate it!
by TomProTrader
5
BTC/USD - Where To BuyBack with another analysis of Bitcoin! If you guys remember my last analysis, I outlined 2 support zones where Bitcoin could bounce, and we're currently bouncing at one of these levels! Price is trading at a nice level at present, so it's time to go to a smaller timeframe and look for the buy opportunity! I took a short term buy yesterday with my VIP group yesterday at 6400 and took profits at 6650 and since hitting the daily high yesterday at 6730, there has been clear signs of reversal on the 1 hour chart. There is short term a side-wards support that formed in yesterdays trading session, which also nicely coincides with a longer term horizontal support zone between 6510 and 6460. The ideal buy opportunity will be where the horizontal support and the side-wards support zone converge at 6510. This is a strong support short term support that is perfectly located at a long term support level, showing this buy level is more logical than most. Bare in mind if price breaks below the horizontal support zone on the chart, then we could see lows between 6100 and 5900 before the next bounce. I will continue to update this analysis providing enough people request it. Please leave a LIKE and follow, this is what motivates me to post further analysis !
BITFINEX:BTCUSD
by TomProTrader
72
XRP/USD - Trading OpportunitiesWith Cryptocurrency showing signs of recovery, we can start to look at other Cryptocurrencies that are at key technical levels that might be ideal for a buy opportunity. Due to volatile market conditions, I am only seeking buy opportunities in Cryptocurrencies with a high market cap as they tend to be less volatile and have more trend structure than lower volume Cryptocurrencies. With this in mind, I found Ripple! Let's analyze Ripple on the 1D chart and use candlestick behavior and structure to make this analysis. Today price reached a long term horizontal support zone between 0.5810 and 0.4550, which has been a support level ever since 22nd December 2017. Current levels can be looked at for further up movement. Price is trading right in the middle of the horizontal zone. There's 2 wave Ripple's next move will take place. They are: - Price bounces at current horizontal support zone between 0.5810 and 0.4550 and bounces to the upside to around 0.9110 (Which will also coincide with 200 major moving average resistance, before then correcting. - Price breaks down below the currently horizontal support zone, and breaks down further to the pre December rally support zone at 0.2860. If this happens, I would not expect price to hit the upside target of 0.9110 as illustrated on my chart, but rather find resistance at where price is now, at 0.5500. Bare in mind just because the next support zone below the current one is 0.2860, it does NOT mean it will have to go this low before the up move. The support level is just a guide to show this is the lowest level we can get before the next up move, had we break current support zone. I will continue to update this analysis if enough people request it. Please leave a LIKE and follow. I would really appreciate it. :-)
BITFINEX:XRPUSD
by TomProTrader
31
BTC/USD - Levels To BuyAnother follow up analysis of Bitcoin! Price is moving perfectly with our previous Bitcoin analysis! In our previous analysis, we predicted the bearish flag was about to happen, then we predicted support levels where the buy could take place! So we have perfectly predicted Bitcoin's movement! Now we've perfectly gaged the down move, I have zoomed out to the daily chart to show the levels of where Bitcoin is trapped between, to give us the successful buy we deserve for being so patient! Swiftly moving on to the analysis, Bitcoin on the daily chart is trading at our previously predicted support zone between 6600 and 6420 and is comfortably sitting within this zone. I am now watching Bitcoin's movement very carefully within this zone to see if candles can show a reversal so I can be a buyer! There's a short term lower horizontal support zone between 6050 and 5900 which will be Bitcoins next bounce level if the current support level fails. If this support also fails, there is a lower structure support between 4680 and 3990. Bare in mind if we hit the secondary support zone at 6050 and 5900, or the lowest support zone at 4680 and 3990, then price is likely to rise, but only up to the first horizontal support zone between 6600 and 6420, as this level would likely become resistance as it coincides with side-wards resistance as well. I will continue to update this analysis if enough people request it. Please leave a LIKE and follow, these are the reason I take my time to post my analysis!
BITFINEX:BTCUSD
by TomProTrader
73
ETH/USD - Market RundownThis is a follow on analysis from my previous ETH/USD analysis, which is going perfectly to plan! Well done to everyone following me, we have been predicting Ethereum's every move perfectly and avoiding any losses! Let's analyze ETH/USD and use simple facts to make this analysis. Ethereum is moving perfectly in accordance to our previous analysis. We are nearing a buy opportunity now, as we approach key technical levels! Price will break down in one of two ways, they are: - Price hits horizontal support at between 498 and 468 before bouncing upwards to the upside target at 678. Bare in mind however that price could hit the side-wards resistance line and stall at 556 (Approximately) and fall back into structure. - Price breaks the horizontal support zone between 498 and 468 and goes lower to next horizontal support zone at 370. Bare in mind if price hits the lower support zone, it's more likely price will only make it to the side-wards resistance structure line which coincides with the first horizontal support zone turned resistance at 470 before breaking down further. Also bare in mind also if it bounces at the first support zone at 498, it could still hit the side-wards resistance zone at a higher level at 541. I will continue to update this analysis if enough people request it. Please leave a LIKE and follow. I'd really appreciate it.
BITFINEX:ETHUSD
by TomProTrader
34
BTC/USD - Live UpdateThis is a follow on analysis from my previous BTC/USD analysis, which went perfectly to plan! Well done to everyone following me, we are predicting Bitcoin's every move perfectly and avoiding all losses! Let's analyze BTC/USD and use simple facts to make this analysis. Bitcoin is moving perfectly in accordance with my previous analysis, now it's time to be rewarded for our patience, and find the buy opportunity! Price will break down in one of two ways, they are: - Price hits horizontal support at between 6600 and 6420 before bouncing upwards to the upside target at 7760. - Price breaks the horizontal support zone between 6600 and 6420 and breaks further down to a lower support zone at 6050. Bare in mind it's equally likely either support zone will be hit. The probabilities of hitting either is equal. I will continue to update this analysis if enough people request it. Please leave a LIKE and follow. I'd really appreciate it.
BITFINEX:BTCUSD
by TomProTrader
70
ETH/USD - Market OverviewThis is a follow on analysis from my previous ETH/USD analysis, which went perfectly to plan (See related ideas below for more information) When analyzing ETH/USD on the 8 hour chart, it is clear price hit side-wards resistance, and has broken down since. It was clear we would have downwards movement from this zone. Price is trading lower, and could retest side-wards resistance first before a breakdown. Price will break down in one of two ways, they are: - Price continues to break down to the lows without correction, and hits the horizontal support zone at 498. - Price retests the side-wards resistance line at 585, before retesting, breaking down, and hitting the support zone at 580. The only way I will change my mind on price trading to the downside is if price breaks above the side-wards resistance line, retests it as a new support and goes to the upside. Bare in mind, just because 498 is the horizontal support zone, it does not mean price has to go this low. This is simply the lowest it can go. I will continue to update this analysis if enough people request it. Please leave a LIKE and follow. I'd really appreciate it.
BITFINEX:ETHUSD
by TomProTrader
17
ETH/USD - Live UpdateWhat's up traders, I hope you're all having a good trading week so far. Let's get straight into it! Ethereum is trading right on a side-wards resistance structure at 606, and has been trading at this level since 3rd June. Price is trading upwards along a side-wards support line, which has now converged into the side-wards resistance line. Price is at a juncture, and price needs to either break upwards, and break downwards. Supporting the upside, there is a side-wards support line thats recently formed, if price stays above this line, it will mean price is forced to break the side-wards resistance at 612. If price breaks the support trend line, then we can expect some downside. If price breaks the support trend line, AND also hits the side-wards resistance level, then it is a good sell opportunity. There is 2 outcomes for Ethereum in the short term. They are: - If price goes below 597.65 and closes there, then I am expecting downside to continue to 497.40 (Where there is some localized structure which could act as support) or the lower horizontal support zone at 364.00. - Price stays above 597.65 and breaks out of the side-wards resistance. If this happens, there will be a retest on the side-wards resistance line turned support and then break to the upside. Please show your support and leave a like and follow - I'd really appreciate it! :-)
BITFINEX:ETHUSD
by TomProTrader
1
BTC/USD - Market RundownLet's analyse BTC/USD and use simple facts to make this analysis. Price reached the resistance zone formed by the downtrend at 7770. We will have a downwards price reversal from this zone. Current levels can be looked at for developing further downward movement. Price is trading right at the side-wards support level and looks like it is about to break below the line and trade down to the horizontal support level at 6600. Price will break down in one of two ways, they are: - Price breaks and closes below the side-wards support line at 7520, and price will immediately move down to the horizontal support zone at 6600. - Price retests the side-wards support zone at 7520, and travels up to the higher horizontal resistance boundary at 7800 before breaking down once again below the side-wards support, down to the lower support boundary at 6600. The only way I will change my mind on price trading to the downside is if price breaks above 8007.00. If price breaks this level, I believe the upside will continue. Although possible, this isn't likely. Bare in mind, just because 6600 is the lower support boundary, it does NOT mean it will necessarily travel this low, it is just a possibility. Also bare in mind that when price breaks and closes below the side-wards support line at 7520, price action could retest the side-wards level as a new resistance before breaking down to the support zone at 6600. I will continue to update this analysis if enough people request it. Please leave a LIKE and follow. I'd really appreciate it.
BITFINEX:BTCUSD
by TomProTrader
57
BTC/USD - Live UpdateWhat's up traders, I hope you're all having a wonderful weekend. Bitcoin has been dramatic lately - and hasn't been much fun for anyone who doesn't understand how Cryptocurrency works. Please make sure you have trading experience, trading knowledge, and a good trading strategy with already establish rules before trading! I get around 15-20 messages a week to my Telegram account with people telling me they've blown their trading account. Don't be one of these people. Just take it slowly, and the profits will surely follow. Anyway, I'm glad to be your one stop shop for accurate and reliable Cryptocurrency analysis! We have done well recently, including perfectly predicting Bitcoin's entire move, making a significant profit! Swiftly moving on, let's analyze BTC/USD on the 1D chart. Bitcoin broke the side-wards resistance level on 6th June at 7590, and since then has has a gentle correction to test the side-wards resistance as support. Although price has some upside momentum after the bounce on the side-wards support, it's important to remember that we're still at the 20 moving average resistance. These averages suggest the trend is still down, so we need to be mindful of this before immediately assuming to take a long position. Price will likely fall to between 7030 and 6100 (The boundaries of all localized structure) before the down move. BUT, there could be some very temporary upside. The upside can only become more permanent if price breaks the 20 moving average and retests it as support. This is the only condition that negates a lower retest condition. I will update this analysis when I receive above 40 likes.
BITFINEX:BTCUSD
by TomProTrader
22
ETH/USD - Levels To BuyWhat's up traders, I hope you're all having a wonderful weekend. Let's analyze ETH/USD on the 1D chart Ethereum is falling at a side-wards resistance line on the daily chart at 625 level. Price is also under 20 moving average resistance simultaneously. The averages are still separated suggesting the trend is still down, so we need to be mindful of this before immediately assuming to take a long position in the future. There is 2 outcomes for Ethereum at this stage, which I have outlined below: - Ethereum falls from current levels into a key hidden support level at 470, before retesting and breaking to the upside. With this scenario breaking out of structure is more likely than the below scenario because we are nearer the side-wards resistance level and less momentum is needed to breakout. - Ethereum continues current fall into the lower horizontal support zone at 356, before bouncing to the upside. With this scenario it may be slightly harder to break out of side-wards resistance line because it would take much more bull participation and consistency to successfully breakout. Although scenario 2 is better for short term upside, I'd rather see scenario 1. Why? Scenario 1 relies on a hidden support level that isn't as strong as the level that would be tested on scenario 2. I will update this analysis when I receive above 40 likes.
BITFINEX:ETHUSD
by TomProTrader
11
LTC/USD - Live UpdateWhat's up traders, I hope you're all having good start to the trading week! Let's analyze LTC/USD on the 1D chart Litecoin has been dramatic lately - and hasn't been much fun for anyone who doesn't understand how Cryptocurrency works. Please make sure you have trading experience, trading knowledge, and a good trading strategy with already establish rules before trading! I get around 15-20 messages a week to my Telegram account with people telling me they've blown their trading account. Don't be one of these people. Just take it slowly, and the profits will surely follow. Anyway, I'm glad to be your one stop shop for accurate and reliable Cryptocurrency analysis! Swiftly moving on, let's analyze LTC/USD on the 1D chart. Litecoin appears to be stalling a side-wards resistance line on the daily chart at 126.90's level. Although price has stalled due to the side-wards resistance, it is also strongly due to the 20 moving average acting as a resistance. The falling moving averages suggest the trend is still down, so we need to be mindful of this before immediately assuming to take a long position. There is only 1 logical scenario that I can see for Litecoin's near future, and that is that price will stall at the current resistance level, and fall lower into the horizontal support zone between 110 and 92 before further upside prevails, which will then break the side-wards resistance line and give an excellent buying opportunity. I will update this analysis when I receive above 40 likes.
BITFINEX:LTCUSD
by TomProTrader
20
BTC/USD - Live UpdateWhat's up traders, I hope you're all having a wonderful weekend. Let's analyze BTC/USD on the 1D chart Bitcoin has been dramatic lately - and hasn't been much fun for anyone who doesn't understand how Cryptocurrency works. Please make sure you have trading experience, trading knowledge, and a good trading strategy with already establish rules before trading! I get around 15-20 messages a week to my Telegram account with people telling me they've blown their trading account. Don't be one of these people. Just take it slowly, and the profits will surely follow. Anyway, I'm glad to be your one stop shop for accurate and reliable Cryptocurrency analysis! We have done well recently, including perfectly predicting Ethereum's entire move, making a significant profit! Swiftly moving on, let's analyze BTC/USD on the 1D chart. Bitcoin appears to be breaking a side-wards resistance line on the daily chart at 7570 level. Although price has broken we need to bare in mind there is still significant overhead resistance in the form of the 20, 50 and 200 moving average. These averages suggest the trend is still down, so we need to be mindful of this before immediately assuming to take a long position. There is 2 outcomes for Bitcoin at this stage, which I have outlined below: - Bitcoin starts a weak rally, stalling at around 7720, before falling to the downside, to retest side-wards support and the coinciding horizontal support zone at 6710 before seeing eventual upside. - Bitcoin successfully stays above the side-wards resistance, and continues to travel up to the 50 moving average (Which coincides with structure resistance) at around 8300-8430, before having some downside, retesting the side-wards support line before further upside with an eventual upside target at 11620. Although scenario 2 is better for short term upside, it is actually scenario 1 I want to see. Why? Simple, a retest on a major coinciding support level shows that investors refuse to let it go lower. At this stage, price will accumulate and give more logical buying opportunities. I will update this analysis when I receive above 40 likes.
BITFINEX:BTCUSD
by TomProTrader
60
ETH/USD - Trading OpportunitiesWhat's up traders, I hope you're all having a good trading week. This is a follow up analysis of my previous Ethereum analysis (See related ideas for the previous analysis.) My previous analysis went perfectly to plan and if you followed it, you'd now be in strong profits. Let's analyze ETH/USD on the 4H chart. When analyzing this chart, Ethereum has had some nice upside. For the time being, it's best to watch for juncture levels where placing a position, this is of course unless you bought a few days ago, then I would say you should definitely hold a long Ethereum position. As you can see from the chart, the level to watch for a trading opportunity is the side-wards resistance line at 620 level, because this is the level that will either be used as support for continued upside, or used as a resistance level for some downside before a later buying opportunity. If Ethereum breaks the side-wards resistance line at 620 and becomes a new support, this is a good buy opportunity. I will update this analysis when I receive above 40 likes.
BITFINEX:ETHUSD
by TomProTrader
11