BTC has been in a downtrend since our top at $69k (nice). Now we come to crunch time, in my opinion, next week we will see whether we can finally break this near 6-week downtrend! I'd be looking to long upon a retest of a break but also I am cautious that we once again rejected and continue our downfall into Q1 of next year. Patience is key as always.
I do like Rune at the moment, it seems to be lagging compared to other coins but I still see that it’s got an inefficiency to fill at 9.24.
I think we do fill this soon, I have bought some on spot with the intention of offloading the majority once we hit that level.
Still a potential 26% gain to be had here! Invalidation would be closing the daily under...
Algorand has been stuck in this range since mid-September. I've been buying at the red and selling at the green and it's been working perfectly. I do think we break out of this range soon, as for the direction, can't be sure, the best bet is to wait for a break then long/short on the retest.
ETH/BTC is approaching a retest of its recently broken downtrend. I'd be looking to long upon retest with a hopeful push to the 0.100000 BTC levels. I am unsure on BTC it's self though but ETH will fly once again if BTC can hold its current range and hopefully break towards the upside.
As can be seen, ETH has a flat supported wedge with a falling resistance line. I can see this breaking out upwards. I wouldn't enter now, wait till we drop to the 2580-2620 level, and hold from there. If we break the support below the pattern will be invalidated and can see a drop to the 2400 levels.
ETH is currently stuck in a local downtrend however lows seem to be consistent while highs are slowly dropping. Seems to have formed a Bullish wedge with flat support but a downwards resistance. Could ultimately mean a breakout to the upside if this pattern holds.
