dennisdaiber

dennisdaiber

On a daily time frame RSI indicator supports the bullish narrative with a divergence. On the way to the presumable target, there is also a 20-day exponential moving average that aligns with the resistance level.

dennisdaiber

Bitcoin broke the $7400 neckline of the inverse head and shoulders pattern. This pattern suggests a bullish outcome with a target being the length of the head, which lies at approximately $8150. However, there is a major resistance level at $7800 on a 4 hourly chart, that previously served as a support. It is still early to say if this is a clear trend reversal to...

dennisdaiber

As of the time of writing, the bitcoin price is just touching on October 24th lows. It remains to be seen whether we can push through this resistance and subsequently approach the $7880 support. From there we could rest and trade sideways until we break the declining upper band of the triangle. Equally, if not more likely is it that the breakout is denied and we...

dennisdaiber

Even with major “altcoins”, looking at the BTC trading pair makes sense sometimes since many of the major exchanges still do not provide fiat trading in most coins. ETHBTC still trades inside an ascending wedge. We had anticipated a strong move to the upside not long ago, and we still won’t rule it out just yet. Of course, the “bigger narrative” can throw a monkey...

dennisdaiber

As of the time of writing, the bitcoin price is just touching on October 24th lows. It remains to be seen whether we can push through this resistance and subsequently approach the $7880 support. From there we could rest and trade sideways until we break the declining upper band of the triangle. Equally, if not more likely is it that the breakout is denied and we...

dennisdaiber

Over the last installments we anticipated a massive move and pointed out the ambivalence of signals we received from the overarching chart narrative. The last 24 trading hours have indeed brought the anticipated move, although the direction in which it went is not the generally desired one. Looking at the weekly chart on Bitstamp, we hesitantly deduct a short-...

dennisdaiber

While ether struggles to break above $190 resistance level against the US dollar, Bollinger Bands signal that the major price move is imminent in the near future. ETH is squeezed within a very narrow corridor and the price fluctuates no more than 5% this month. If Ethereum fails to stay above the $180 support area, where 50-day moving average currently lies, there...

dennisdaiber

Bitcoin price remains trapped within a tightening range of a falling wedge. Statistically, 68% of the time falling wedge results in breakout to the upside and 32% to the downside. On top of that, this week we can clearly observe a bullish divergence on the daily RSI. With an 8% price decrease so far this month, the overall sentiment on the market seems bearish,...

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Looking at ETH/BTC chart, the pair has a steady 10% growth so far in November and it seems like the worse time is behind. The price reached its lowest of 0.016 on September 5th and since then recovered over 30%. However, the price will have to go above $0.024, a massive support line, which will now most likely turn into a significant resistance level.

dennisdaiber

Looking at ETH/BTC chart, the pair has a steady 10% growth so far in November and it seems like the worse time is behind. The price reached its lowest of 0.016 on September 5th and since then recovered over 30%. However, the price will have to go above $0.024, a massive support line, which will now most likely turn into a significant resistance level.

dennisdaiber

Despite the bearish signal of an ascending triangle, on a 4 hourly RSI we can see a very clear bullish divergence. Keeping in mind that a higher time frame patterns and indicators have more significance, it is reasonable to assume a price growth in a short term.

dennisdaiber

After a 5% price drop, bitcoin is now in a consolidation phase, gaining the strength for the next move. On a 1 hour chart we can see the formation of an ascending triangle, which is a continuation pattern.

dennisdaiber

100 and 200-day moving averages are converging, providing support and resistance and narrowing the tightening range. BTC is currently trapped in between $9000 and $9500 price levels. The chart pattern still remains as a bullish pennant and it’s getting closer to an inevitable massive move. Exponential moving average is turning back to the upside as well.

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On November 4th, Stellar significantly reduced the number of tokens, burning $4.7 worth of XLM. The foundation explains over 50 billion tokens burned as a measure to become more efficient. After cutting tokens in circulation (mostly from giveaway programs) there are currently 20 billion XLM on the market. This resulted in a 30% rollacoaster price move, as traders...

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Although, bitcoin shows bullish signs, for now it still lacks the momentum for a massive breakout. BTC still heavily relies on 200-day moving average for a support. There is also a concerning chart on CME Futures, where a gap in between $8900 and $9000 still isn’t filled. In order to fill this gap, bitcoin price would need to go down 6% from the current price.

dennisdaiber

On a 4 hourly time frame BTC forms a horizontal triangle and gets closer to the tip within this tightening range. We can also observe a significant loss in volume. This signals that the next major price action is coming soon. If this turns into a bigger continuation move, then we might see another 35-40% growth.

dennisdaiber

Following bitcoin price move XRP also experienced a steep rise that was followed by 8% correction. As a result, the coin is now trading at a higher level in $0.30 price region. Except for a rapid 14% dip on October 23rd, the price rises gradually within an extended ascending channel. 50-day moving average is about to cross 100-day one, which would be a bullish signal.

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Breaking above 200-day moving average saved bitcoin price from entering a bear market and it is now re-testing $9000 level, where the support line lies. The massive break to the upside was followed by 12% correction forms a bullish flag pattern on a daily chart. If this is the case, then the next target would be at $11900.