Kraken chart.
Analysis: Expect to be stopped and a trend reversal to begin within the 4900-4000, with these levels holding many demand and buy zones. However, use stop losses tightly, as a potential drop to 3700 (the start of the in 2017) is part of the chart analysis. Fundamentals including macros and micros include recent BCH fork manipulation that adds to as well as the market cap of under $100bn. Cyclical indicators such as growth rate seems to be drawing to a close, perhaps into a reset, with a drop of 70% leading into a steady 100-200% increase as has performed in the past. market seems to bottom out at 4800, although there appears to be plenty of buyers on books as well as in $mm trading range with options at LedgerX, and even has had an increase since last month. Meanwhile, shows a more signal. 50/200 EMAs: Shows a steady Bear Trend RSI: is grossly oversold NVT: for the next 2 weeks ATR: low and price settling BUT.. sometimes that means consolidation is strong and may indicate an explosive move… AND our Fib lines (we use zones) : has price dropping into the final .
Overall, it would have to be an explosive catalyst for the trend to become an overall . We still sit in a momentum, or at the bottom of a sideways market. Sentiment is also with of panic selling. IN the US, SEC regulatory climate may be creating more ‘fear’ in retail trader action, as well as the possible denial or postponement. While the overall landscape of crypto markets are down, some have moved the Alts prices, contributing to the sentiment for .
Data: Demand Levels: 4700-4900 & 3861-4000 with old institutional buying levels of 4800-4900. The support line which is the start of bubble from 2017, has now come to be the “Bottom” of: 4220 A ‘worst case’ is the Floor at: 3017 And finally, the Mean Average price prior to the Bubble: 1700 – this would be when all else fails and if crypto dies.
Long Term Q4-Q1 is with strong Buy Levels at 4750-4920 & Top trend/target at 9600k with Stop loss at 4715
Short Term into Dec: momentum moving into strong Buy Levels 4790-4885 & Top trend/target 6300-6800; stop loss 4705
Feel free to add contribute to this data at any time.
About me: I’m an equities trader ( & ) for asset , forex trader for prop room, and crypto trader for myself. Been in crypto since Sept 2016.
I contribute as a guest, to crypto market updates on the Crypto Cowboys channel on Youtube
Published at Mon, 19 Nov 2018 18:09:43 +0000
