crypto_trends

crypto_trends

Today looks to be the fourth touch of a descending channel trend. The first touch at the bottom of the channel was at the 0.382 Fibonacci retracement around 47.5K. Then it retraced back to the around 55K then back to 45K. Now today we have once again retraced back up to the top of the channel around 51.5K (near the 0236 Fibonacci retracement). That by my count is...

crypto_trends

I just want to share a little of the obvious bearish divergence that happened over the past few days that indicates that we are in a slightly downward trend for the time-being still. Note how for roughly the past month, the price of BTC kept reaching new highs (upper bold white line), while at the same time, the relative strength indicator ( RSI ) kept on a...

crypto_trends

Up until mid-February, ETH was trading in an upward wedge that broke to the bottom. However, it somehow managed to recover to the upside by riding the coattails of Bitcoin (which was in its own upward trend and broke out of its own wedge to the positive side). Now that bitcoin is falling, it looks like ETH is going to fall with it, but not as nicely as Bitcoin....

crypto_trends

It was the best of trends, it was the worser of trends, it was a white channel of hope vs. a yellow channel of, well... still hope, just less of it. I have been hearing a lot of people expecting for a Fibonacci retrace to 40K (which is still quite possible), but now I am not so sure. Bitcoin has been trading in an upward sloping channel (yellow trend lines), but...

crypto_trends

Bitcoin BITSTAMP:BTCUSD looks to have just started a trend out of a bear flag and heading down. It looks like it has slightly broken out of a channel similar to ETH and LTC to get into this flag, for which ETH and LTC are already at the top of their channel and likely headed down as BTC goes down. My guess is we will hit a bounce at the top of this former...