ETC seems to be stuck in a descending channel, briefly wicking above yesterday but pulled back inside and might want to head back down to the lower boundary, which coincides with the support area bottom. ETC did dip into the lower support area during the strong move downwards earlier this week so price might want to test that void one more time before deciding...
BTC has continued to exhibit bearish behavior over the past week, unable to close above $6540 and is now flirting near the lows of the support zone. We can see that BTC broke down from the bearflag and is now stuck in another triangle near the lows. We can expect a bounce to trigger stops above the $6500-$6600 level before continuing lower and testing the lows...
EOS was forming an iH&S and broke out of the formation today with decent volume (not as much as we would like to see) and its projection target is around $5.7. We can see that EOS broke above the supply zone around $5.3-$5.4 and has used it as support to propel itself to the iH&S projection. We can see that the RSI is starting to hit the upper range and the MACD...
BCH cut through support zones pretty easily on the way down breaking the strong $480 zone but bounced off $410. Compared to other altcoins we've seen in other charts, BCH did not bounce as strongly with volume from support so one must watch a retest of that support level and it must hold with volume for us to be certain that we could be seeing a short-term bottom....
ETH continued its plunge hitting lows of $167 blowing past the support zone as stops were hit triggering a quick move lower and formed a tweezer bottom. With any support level, you want to see some type of reaction when it enters/breaches the level and we got exactly that so far. We can see that buy volume did enter the market and practically matched the volume...
ETH is showing signs of bearish divergence on the 1H chart and seeing that it has moved up substantially over the past 24 hours some might want to start looking at taking profits. Wouldn't necessarily be the most ideal spot to short at this point but just something to keep an eye on over the next few hours.
ETC has moved up quite sharply on this move up by BTC hitting resistance with 1 large candle from support supply zone. We can see that we are currently experiencing a pullback after rejecting resistance on 2 separate candle attempts. Green scenario: A small BTC pullback is warranted, which can cause ETC to drop down into support before continuing a move...
EOS is starting to look like it wants to pullback into its support area around $6, which coincides with its trendline support as well. Green scenario: If BTC does find support around the 7000-7100 region, we should see a bounce in EOS around that range and continue its move higher testing overhead supply around $7. Red scenario: If BTC fails to remain above the...
BCH had a huge explosion upward after breakout out of the triangle and tested 2 different areas of overhead resistance before hitting resistance. (dotted red line) With rumors of an upcoming fork in the works, this should keep BCH bid up baring any sudden moves lower on BTC. If we were to break past this resistance level, we could expect to find the next area of...
We can see that Ethereum has bounced nicely within the wedge (purple) and could be making its way back up to test the top of the triangle (yellow). RSI bounced off the trendline and is continuing its move higher showing strength. News about the reduction of reward from 3ETH to 2ETH per block is causing some increased bullish flow. If we do see a breakout of the...
After experiencing this mornings pullback, Bitcoin could still fall into our value area around $6700 before making a move higher breaking past resistance. This would coincide with the resetting of our Stochastic indicator and we could also see our MACD is starting to cross-over to the downside, which again highlights our bias for a move lower. But we cannot...