BTCUSD
Ahh, .. To me, it’s not a good idea to directly trade it against fiat. Why? Because of the low volumes and margin traders. No can predict a 10 min 10% move by a whale. You can only guess it’s going to happen, but in which direction and when, nope. This said, it’s important to keep an eye on the chart to get a general idea of the markets, so here’s my quick analysis.
On the 1H chart, I’m on the short term. The 200$ drop on the 20th doesn’t mean anything, since it was just preceded by a huge climb, so it sort of balance it. We are still going sideways and price range is narrowing (Band lines become yellow) meaning next band cross will determine the trend.
On the , we can see the general Down Trend continuing. On the 06th we had a nice break over the 50 day , but people traded against it as a fadeout.
In my scenario I expect a retest of the 3400 area which would create a which is a strong chart pattern.
ETH/BTC
on the 4H chart is looking like it’s about to reverse from its two weeks drop. It has been nicely consolidating, but if drops it’s going to follow.
LTC/BTC
I’m quite on Litecoin. No need for complicated analysis. In daily, we have two major indicators: on the 06th, we had a break over the 200 days with a quick correction. On the 12th, the 50 days crossed over the 100 days and price is forming a nice ascending support line which will indicate the new trend direction.
Published at Wed, 23 Jan 2019 11:41:15 +0000
