Cryptocurrency Markets Overview
Hi guys in this post I will analyse the main cryptos charts and try to give the maximum insight of what’s going on at the moment, and what to expect.
BTC/USD
Let’s start with one hour chart. We are right now in a price narrowing range, so we should prepare for a breakout.
Now let’s zoom out in 3H. My (param 5), which is based on (Stop and Reverse) is still in a short trade and hasn’t reversed yet.
Zoom out again to 12h chart. I wanted to show you this main descending that was a resistance and became a support. I would expect price to drop and hit this line before going back up.
Now if I were to do a little of and try to predict the future (which I can’t) for pure entertainment, here is a potential scenario. Recent price action formed a but in the background a is creating which would bring back the price to the 6K $.
ETH/BTC
Despite being a market catalyst, ETH is following BTC’s direction right now. If you were shorting it’s the moment to close orders and wait for a breakout of the .
On the 4 hours chart, the Trend hasn’t reversed yet : The drop on BINANCE and BITFINEX show that less and less people are trading the 0.034 support (that used to be a resistance) which means its strength is decreasing and would let price drop to 0.032 support line, thus following expected movement.
Furthermore, the SAR-MA Strategy show that the down trend is still going strong. We are still inside this short waiting for (20 and 40) cross or a reverse.
XRP/BTC
Well, it’s my personnal opinion, but I wouldn’t advice to trade Ripple. Its just going sideways and is often being manipulated. We could make some plays inside this but it’d not be much rewarding.
EOS/BTC
EOS trend is undecided yet. It can either move up to the 100 day (blue line) or go test the support (red horiontal line). But both movements would be a long opportunity. It’s up to you. I would keep an eye on USD chart, if we see some green EOS will probably follow too.
I will try to update this as often as possible so give a like if you want to see updates, thanks for reading /o/
Published at Sun, 13 Jan 2019 11:14:20 +0000
