It is February 7th, 2019
BTC dominance is currently at 53.4% (-0.2%). The total market cap is currently at $111.6 billion (+ $0.0 billion). The market volume of the last 24h was $15.3 billion (- $1.8 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/Sl7bSFcJ/
Very slow day. Yesterday it went down sparking the bearish momentum but today it died and behind us is one more extremelly slow day in price movement.
We do not have setup on Bitcoin yet. Once we get it, we will share our idea with you. Our previous bullish setup failed so now it is time to look for new one.
To your success, CS Team!
BTC dominance is currently at 53.4% (-0.2%). The total market cap is currently at $111.6 billion (+ $0.0 billion). The market volume of the last 24h was $15.3 billion (- $1.8 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/Sl7bSFcJ/
Very slow day. Yesterday it went down sparking the bearish momentum but today it died and behind us is one more extremelly slow day in price movement.
We do not have setup on Bitcoin yet. Once we get it, we will share our idea with you. Our previous bullish setup failed so now it is time to look for new one.
To your success, CS Team!
It is February 8th, 2019
BTC dominance is currently at 53.0% (-0.4%). The total market cap is currently at $121.7 billion (+ $10.1 billion). The market volume of the last 24h was $23.5 billion (+ $8.2 billion).
Fundamental analysis
SEC Commissioner Jackson Thinks Regulator Will Approve BTC ETF, Leaked Interview Shows
https://cointelegraph.com/news/sec-commissioner-jackson-thinks-regulator-will-approve-btc-etf-leaked-interview-shows
Technical analyis
Daily time frame : https://www.tradingview.com/x/ZQIiT4BL/
After almost 3 weeks of consolidation and slowly decline in the market, we saw incredible up move that we expected 6-7 days or even more. Our long on BTC was stopped out but our ETH long still alive and made us great gain.
Is this the same candle we saw on December 17th 2018 when the uptrend started that reached 4250?
It is hard to say but it is definitely great move. Some of the altcoins made incredible move, especially Litecoin.
We are still bullish, we are now waiting for right moment to add to Ethereum long and to look for long on Bitcoin since we think it has real chance to see 4k again and test both horizontal and downslopping trend line. If it closes above these two lines and if it gives trigger on the retest, we could see an impressive move up to test first monthly resistance around 4.5k
Now what we want to see is the increase in interest because if we see no action in next 24-48 hours, this move could be invalidated and ranging may happen again.
On the weekly chart, bullish engulfing at the moment gives us reason to believe that this can go to 4k and then monitoring priuce action we should decide what next.
Some will say it was because of rumors about ETF. We would disagree. The technicals were pointing up, it was just the question what will trigger the move. So, the outcome was caused by both technicals and fundamentals.
No reason to look for short at the moment. If we get rejected by 3700 few more times, we could start doubting bullishness but so far no signs of slowing down.
To your success, CS Team!
BTC dominance is currently at 53.0% (-0.4%). The total market cap is currently at $121.7 billion (+ $10.1 billion). The market volume of the last 24h was $23.5 billion (+ $8.2 billion).
Fundamental analysis
SEC Commissioner Jackson Thinks Regulator Will Approve BTC ETF, Leaked Interview Shows
https://cointelegraph.com/news/sec-commissioner-jackson-thinks-regulator-will-approve-btc-etf-leaked-interview-shows
Technical analyis
Daily time frame : https://www.tradingview.com/x/ZQIiT4BL/
After almost 3 weeks of consolidation and slowly decline in the market, we saw incredible up move that we expected 6-7 days or even more. Our long on BTC was stopped out but our ETH long still alive and made us great gain.
Is this the same candle we saw on December 17th 2018 when the uptrend started that reached 4250?
It is hard to say but it is definitely great move. Some of the altcoins made incredible move, especially Litecoin.
We are still bullish, we are now waiting for right moment to add to Ethereum long and to look for long on Bitcoin since we think it has real chance to see 4k again and test both horizontal and downslopping trend line. If it closes above these two lines and if it gives trigger on the retest, we could see an impressive move up to test first monthly resistance around 4.5k
Now what we want to see is the increase in interest because if we see no action in next 24-48 hours, this move could be invalidated and ranging may happen again.
On the weekly chart, bullish engulfing at the moment gives us reason to believe that this can go to 4k and then monitoring priuce action we should decide what next.
Some will say it was because of rumors about ETF. We would disagree. The technicals were pointing up, it was just the question what will trigger the move. So, the outcome was caused by both technicals and fundamentals.
No reason to look for short at the moment. If we get rejected by 3700 few more times, we could start doubting bullishness but so far no signs of slowing down.
To your success, CS Team!
Cointelegraph
SEC Commissioner Jackson Thinks Regulator Will Approve BTC ETF, Leaked Interview Shows
A forthcoming interview with a U.S. securities representative sees possible positive news about the future of a Bitcoin ETF.
It is February 10th, 2019
BTC dominance is currently at 52.9% (-0.1%). The total market cap is currently at $121.2 billion (- $0.5 billion). The market volume of the last 24h was $19.1 billion (- $4.4 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/z3R7BLIG/
After an impulsive wave up, mwe are currently consolidating around 3600 price area. Considering the whole move, it is still above 38.2% fibonacci which gives us strong sign of market strength.
If correction happen, ideally would be to 3500-3550 area where buy action would make a lot of sense. Close below 3500 and especially 3450 would be very bad and the because aloswt the whole move will be invalidated. We are currently long on ETH and looking for an entry on BTC. Currently our setups are looking for long entry.
To your success, CS Team!
BTC dominance is currently at 52.9% (-0.1%). The total market cap is currently at $121.2 billion (- $0.5 billion). The market volume of the last 24h was $19.1 billion (- $4.4 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/z3R7BLIG/
After an impulsive wave up, mwe are currently consolidating around 3600 price area. Considering the whole move, it is still above 38.2% fibonacci which gives us strong sign of market strength.
If correction happen, ideally would be to 3500-3550 area where buy action would make a lot of sense. Close below 3500 and especially 3450 would be very bad and the because aloswt the whole move will be invalidated. We are currently long on ETH and looking for an entry on BTC. Currently our setups are looking for long entry.
To your success, CS Team!
It is February 11th, 2019
BTC dominance is currently at 52.8%(-0.1%). The total market cap is currently at $121-4 billion (+ $0.2 billion). The market volume of the last 24h was $21.0 billion (+ $1.9 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/spXty3Un/
We are still bullish on the price action. Not the best we want to see but that's bitcoin. We are still long on ETH. Waiting for position on Bitcoin. Would like to see some clear bullish signs before going long on these two contracts.
To your success, CS Team!
BTC dominance is currently at 52.8%(-0.1%). The total market cap is currently at $121-4 billion (+ $0.2 billion). The market volume of the last 24h was $21.0 billion (+ $1.9 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/spXty3Un/
We are still bullish on the price action. Not the best we want to see but that's bitcoin. We are still long on ETH. Waiting for position on Bitcoin. Would like to see some clear bullish signs before going long on these two contracts.
To your success, CS Team!
It is February 12th, 2019
BTC dominance is currently at 52.7% (-0.1%). The total market cap is currently at $122.1 billion (+$0.7 billion). The market volume of the last 24h was $20.3 billion (- $0.7 billion).
Technical analysis
Daily time frame: https://www.tradingview.com/x/pStUerxu/
The price reached our ideal buy area and pulled back. Currently around 3600 again looking very good.
Our long on Ethereum is still active and we are not thinking of closing it as long as market doesn't show us some big bearish sign or until it reaches our targets that are pretty high.
Yesterday's bearish daily candle is invalidated by todays green one so the price action is looking good for bulls and we expect tomorrow some good upward momentum to kicks in.
To your success, CS Team!
BTC dominance is currently at 52.7% (-0.1%). The total market cap is currently at $122.1 billion (+$0.7 billion). The market volume of the last 24h was $20.3 billion (- $0.7 billion).
Technical analysis
Daily time frame: https://www.tradingview.com/x/pStUerxu/
The price reached our ideal buy area and pulled back. Currently around 3600 again looking very good.
Our long on Ethereum is still active and we are not thinking of closing it as long as market doesn't show us some big bearish sign or until it reaches our targets that are pretty high.
Yesterday's bearish daily candle is invalidated by todays green one so the price action is looking good for bulls and we expect tomorrow some good upward momentum to kicks in.
To your success, CS Team!
It is Ferbuary 13th, 2019
BTC dominance is currently at 52.7% (+0.0%). The total market cap is currently at $120.6 billion (- $1.5 billion). The market volume of the last 24h was $20.8 billion (+ $0.5 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/gePGuPLF
Still holding the range without either move up or move down. What we came across is the 50 EMA on daily time frame that is showing quite strong resistance area. In case of breaking above and if we manage to establish support at that level, it would be extra bullish for upcoming days.
Can't lie to you and say that price is looking great. The price action looks solid but not as it could be and more importantly should be.
We are not long on BTC but on Ethereum. We are still thinking that if BTC goes up, it will be outperformed by Ethereum adn that if BTC enters consolidation phase that we can see move up from Ethereum because of upcoming hard fork that is estimated to happen in last week of Ferbruary.
To your success, CS Team!
BTC dominance is currently at 52.7% (+0.0%). The total market cap is currently at $120.6 billion (- $1.5 billion). The market volume of the last 24h was $20.8 billion (+ $0.5 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/gePGuPLF
Still holding the range without either move up or move down. What we came across is the 50 EMA on daily time frame that is showing quite strong resistance area. In case of breaking above and if we manage to establish support at that level, it would be extra bullish for upcoming days.
Can't lie to you and say that price is looking great. The price action looks solid but not as it could be and more importantly should be.
We are not long on BTC but on Ethereum. We are still thinking that if BTC goes up, it will be outperformed by Ethereum adn that if BTC enters consolidation phase that we can see move up from Ethereum because of upcoming hard fork that is estimated to happen in last week of Ferbruary.
To your success, CS Team!
It is February 14th, 2019
BTC dominance is currently at 52.8% (+0.1%). The total market cap is currently aty $120.2 billion (- $0.4 billion). The market volume of the last 24h was $19.7 billion (- $1.1 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/0NhCr6qC
Back to ranging market again. It wicked to 3530 today and got rejected by that area. Currently around 3570 which is still good but no signs of big move at the moment. We are not in a position on BTC but holding our long on Ethereum because we see the strength ETH is showing over Bitcoin so we are still much more bullish on Ethereum than Bitcoin.
If we see some bull action, we will consider entering long on BTC too but so far we are still with our ETH long and flat on BTC.
To your success, CS Team!
BTC dominance is currently at 52.8% (+0.1%). The total market cap is currently aty $120.2 billion (- $0.4 billion). The market volume of the last 24h was $19.7 billion (- $1.1 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/0NhCr6qC
Back to ranging market again. It wicked to 3530 today and got rejected by that area. Currently around 3570 which is still good but no signs of big move at the moment. We are not in a position on BTC but holding our long on Ethereum because we see the strength ETH is showing over Bitcoin so we are still much more bullish on Ethereum than Bitcoin.
If we see some bull action, we will consider entering long on BTC too but so far we are still with our ETH long and flat on BTC.
To your success, CS Team!
It is February 15th, 2019
BTC dominance is currently at 52.7% (-0.1%). The total market cap is currently at $120.5 billion (+ $0.3 billion). The market volume of the last 24h was $19.7 billion (+ $0.0m billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/5XKh7QmU
Not too much to say, after move up, price is dying slowly. Our ETH long is still opened while we are flat on Bitcoin.
What we are currently waiting is not lower entry but some up movement such as high high or something like that but considering type of the market we are in, if we get bullish momentum, it will pump without too much waiting. That's the reason we are holdinng ETH long cause it would follow that potential spike in BTC price and waiting for BTC to show confirmation so we can open long there too.
To your success, CS Team!
BTC dominance is currently at 52.7% (-0.1%). The total market cap is currently at $120.5 billion (+ $0.3 billion). The market volume of the last 24h was $19.7 billion (+ $0.0m billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/5XKh7QmU
Not too much to say, after move up, price is dying slowly. Our ETH long is still opened while we are flat on Bitcoin.
What we are currently waiting is not lower entry but some up movement such as high high or something like that but considering type of the market we are in, if we get bullish momentum, it will pump without too much waiting. That's the reason we are holdinng ETH long cause it would follow that potential spike in BTC price and waiting for BTC to show confirmation so we can open long there too.
To your success, CS Team!
It is February 16th, 2019
BTC dominance is currently at 52.7% (+0.0%). The total market cap is currently at $121.4 billion (+ $0.9 billion). The market volume of the last 24h was $18.4 billion (- $1.3 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/VTiypDoJ
Looking at daily close, it finally looks good again. We are still not long on BTC but this good chart is great reason to keep holdinng our ETH long.
Even if we see a fake out today on BTC that dropped to 3564 that is exactly the openign of dailt candle which hold out. That tells us that the level is holding and gives the reason to stay bullish on BTC and especially on ETH.
To your success, CS Team!
BTC dominance is currently at 52.7% (+0.0%). The total market cap is currently at $121.4 billion (+ $0.9 billion). The market volume of the last 24h was $18.4 billion (- $1.3 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/VTiypDoJ
Looking at daily close, it finally looks good again. We are still not long on BTC but this good chart is great reason to keep holdinng our ETH long.
Even if we see a fake out today on BTC that dropped to 3564 that is exactly the openign of dailt candle which hold out. That tells us that the level is holding and gives the reason to stay bullish on BTC and especially on ETH.
To your success, CS Team!
It is February 17th, 2019
BTC dominance is currently at 52.3% (-0.4%). The total market cap is currently at $121.6 billion (+ $0.2 billion). The market volume of the last 24h was $21.1 billion (+ $2.7 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/3HiitMHb
One more time got rejected by daily EMA 50 very important dynamic price level. The daily candlestick at the moment is not looking so good.
The move up did happen as we told on our yesterdays update but got heavily rejected. We didn't long it but we added to our ETH long that is doing great. ETH/BTC is doing amazing creating very bullish daily candlestick. Even ETH/USD is doing amazing and outperforming everything else, especially BTC.
So, our current situation is clear. We will wait for BTC setup again, after this daily close we will wait for some time untill price action offer some setup. Until then, we will keep our ETH long as we anticipate further move up.
To your success, CS Team!
BTC dominance is currently at 52.3% (-0.4%). The total market cap is currently at $121.6 billion (+ $0.2 billion). The market volume of the last 24h was $21.1 billion (+ $2.7 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/3HiitMHb
One more time got rejected by daily EMA 50 very important dynamic price level. The daily candlestick at the moment is not looking so good.
The move up did happen as we told on our yesterdays update but got heavily rejected. We didn't long it but we added to our ETH long that is doing great. ETH/BTC is doing amazing creating very bullish daily candlestick. Even ETH/USD is doing amazing and outperforming everything else, especially BTC.
So, our current situation is clear. We will wait for BTC setup again, after this daily close we will wait for some time untill price action offer some setup. Until then, we will keep our ETH long as we anticipate further move up.
To your success, CS Team!
It is February 18th, 2019
BTC dominance is currently at 51.9% (-0.4%). The total market cap is currently at $132.2 billion (+ $10.6 billion). The market volume of the last 24h was $33.4 billion (+ $12.3 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/kMyF7hYn
After days of actumulation, days of fake moves, we finally saw move up from BTC and that was the big one.
Probably, it was ignited by Ethereum more than by itself but anyway it went up.
On the other side, Ethereum keept moving up and made some amazing gain.
At the moment, we expect some retrace on both of them. Maybe not straight after this post but probably tomorrow we should see some kind of retrace.
For BTC, retrace could be around EMA 50 on daily time frame and if that are holds out, it will be quite bullish. So the area to look at is 3720-3800.
For Ethereum, we expect some kind of pullback too. The first area we are waiting for long trigger is 132-135.
If these areas get tested, we will consider longing them if we get the sing.
To your success, CS Team!
BTC dominance is currently at 51.9% (-0.4%). The total market cap is currently at $132.2 billion (+ $10.6 billion). The market volume of the last 24h was $33.4 billion (+ $12.3 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/kMyF7hYn
After days of actumulation, days of fake moves, we finally saw move up from BTC and that was the big one.
Probably, it was ignited by Ethereum more than by itself but anyway it went up.
On the other side, Ethereum keept moving up and made some amazing gain.
At the moment, we expect some retrace on both of them. Maybe not straight after this post but probably tomorrow we should see some kind of retrace.
For BTC, retrace could be around EMA 50 on daily time frame and if that are holds out, it will be quite bullish. So the area to look at is 3720-3800.
For Ethereum, we expect some kind of pullback too. The first area we are waiting for long trigger is 132-135.
If these areas get tested, we will consider longing them if we get the sing.
To your success, CS Team!
It is February 19th, 2019
BTC dominance is currently at 51.7% (-0.2%). The total market cap is currently at $135.1 billion (+ $2.9 billion). The market volume of the lat 24h was $33.9 billion (+ $0.5 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/xKSNys69
After an amazing day, we saw some kind of consolidation with upside momentum. The overall situation is very good for the market.
BTC is first time after big drop above EMA 50, it broke down trend line. In order to remain local bullish and become overall bullish, we need to see higher high after it made higher low.
If that happens, we would have very strong upside momemntum with high targets.
The higher high would require close at least above 4200. There is big probability for it to happens but we wouldn’t long it at resistance it is testing right now that comes from weekly time frame.
So, either long it when drop to retest previous resistance of on retest of this resistance once it gets broken.
To your success, CS Team!
BTC dominance is currently at 51.7% (-0.2%). The total market cap is currently at $135.1 billion (+ $2.9 billion). The market volume of the lat 24h was $33.9 billion (+ $0.5 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/xKSNys69
After an amazing day, we saw some kind of consolidation with upside momentum. The overall situation is very good for the market.
BTC is first time after big drop above EMA 50, it broke down trend line. In order to remain local bullish and become overall bullish, we need to see higher high after it made higher low.
If that happens, we would have very strong upside momemntum with high targets.
The higher high would require close at least above 4200. There is big probability for it to happens but we wouldn’t long it at resistance it is testing right now that comes from weekly time frame.
So, either long it when drop to retest previous resistance of on retest of this resistance once it gets broken.
To your success, CS Team!
It is February 20th, 2018
BTC dominance is currently at 51.7% (+0.0%). The total market cap is currently at $135.3 billion (+ $0.2 billion). The market volume of the last 24h was $29.9 billion (- $4.0 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/sduuzxM6
Price action is still looking very bullish. If we get this kind of daily close, we would probably go above 4000 even 4100 tomorrow easily.
By forming ascending triangle, compared with this daily chart, it is looking very strong.
So, we are currently bullish until we sport some bearish sign or setup.
To your success, CS Team!
BTC dominance is currently at 51.7% (+0.0%). The total market cap is currently at $135.3 billion (+ $0.2 billion). The market volume of the last 24h was $29.9 billion (- $4.0 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/sduuzxM6
Price action is still looking very bullish. If we get this kind of daily close, we would probably go above 4000 even 4100 tomorrow easily.
By forming ascending triangle, compared with this daily chart, it is looking very strong.
So, we are currently bullish until we sport some bearish sign or setup.
To your success, CS Team!
It is February 21st, 2019
BTC dominance is currently at 51.8% (+0.1%). The total market cap is currently at $135.1 billion (- $0.2 billion). The market volume of the last 24h was $24.7 billion (- $5.2 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/sukiHb1I
Still resting at the resistance without too much action. The weekly resistance is keep holding the price below. If it closes week below, next week we should probably dump to at least test EMA 50 on a daily time frame.
If it is going to moon, it should be done before the weekly close by closing above resistance so next week it can go even higher.
We are not in a position right now. Even if we are a little bit more bullish than bearish, we wont buy at resistance without big buy signal. We would rather wait for that decline to buy. Perfewct ETH entry would be 130 if price action gives the sign and for BTC at around 3750. But considering the fact that these levels are watch by millions, we wouldn't be surprised if they get frontruned so we would buy a littl bit higher too but not at this price at the resistance.
To your success, CS Team!
BTC dominance is currently at 51.8% (+0.1%). The total market cap is currently at $135.1 billion (- $0.2 billion). The market volume of the last 24h was $24.7 billion (- $5.2 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/sukiHb1I
Still resting at the resistance without too much action. The weekly resistance is keep holding the price below. If it closes week below, next week we should probably dump to at least test EMA 50 on a daily time frame.
If it is going to moon, it should be done before the weekly close by closing above resistance so next week it can go even higher.
We are not in a position right now. Even if we are a little bit more bullish than bearish, we wont buy at resistance without big buy signal. We would rather wait for that decline to buy. Perfewct ETH entry would be 130 if price action gives the sign and for BTC at around 3750. But considering the fact that these levels are watch by millions, we wouldn't be surprised if they get frontruned so we would buy a littl bit higher too but not at this price at the resistance.
To your success, CS Team!
It is February 25th, 2019
BTC dominance is currently at 52.3% (+0.5%). Thre total market cap is currently at $128.9 billion (- $6.2 billion). The market volume of the last 24h was $38.2 billion (+ $13.5 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/AZDmd74L
After breaking 4000 price area, it seemed quite bullish and the fact that twitter and other media turned extremely bullish was very concerned.
Our dream short are of 4300 didn't get reached so we didn't short the move down but we were long from 3930 with close at 4110 and other part down at 4000 so in overal, it turned good trade for us.
Now, back to our chart, you see how it holding above EMA 50 and important horizontal price area of 3700.
The fact that price dropped $500 in less than hour, doesn't give us now some good short setup. What to target? Where to put safe stop loss?
That's why we think that some kind of short stop run will happen and we will monitor 3930-3950 price area to give us short trigger. We won't long until that area but we will try to short if that area gets reached and give us the trigger.
If it doesn't get reached, we don't have problem being out of trade and waiting for opportunity.
To your success, CS Team!
BTC dominance is currently at 52.3% (+0.5%). Thre total market cap is currently at $128.9 billion (- $6.2 billion). The market volume of the last 24h was $38.2 billion (+ $13.5 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/AZDmd74L
After breaking 4000 price area, it seemed quite bullish and the fact that twitter and other media turned extremely bullish was very concerned.
Our dream short are of 4300 didn't get reached so we didn't short the move down but we were long from 3930 with close at 4110 and other part down at 4000 so in overal, it turned good trade for us.
Now, back to our chart, you see how it holding above EMA 50 and important horizontal price area of 3700.
The fact that price dropped $500 in less than hour, doesn't give us now some good short setup. What to target? Where to put safe stop loss?
That's why we think that some kind of short stop run will happen and we will monitor 3930-3950 price area to give us short trigger. We won't long until that area but we will try to short if that area gets reached and give us the trigger.
If it doesn't get reached, we don't have problem being out of trade and waiting for opportunity.
To your success, CS Team!
It is February 26th, 2019
BTC dominance is currently at 51.9% (-0.4%). The total market cap is currently at $130.6 billion (+ $1.7 billion). The market volume of the last 24h was $29.4 billion (- $8.8 billion).
Technical analysis
Daily time frame: https://www.tradingview.com/x/obN8Y3Nk
We are forming some kinnd of range between 3700 and 3800. The way this is going to end is quite interesting. If the drop was to 3900-3950, it would be way easier to trade because the short sellers would have clear target below around 3650-3700.
Now, as it dropped so fast to this area, even if people would agree that it looks bearish because of this sell off, what to target if you will short BTC?
What if this was shakeout before the rally? Looking at monthly chart, it is making bullish engulfing and clearly targeting resistance around 4500.
The close of the monthly canldestick is coming in two days, If it closes like this, it would be obviously bullish.
So, our trading idea is this. If price reaches 3930 (weekly resistance) you can try to to short it and target the local low (3700).
If the price start going down, look at the area around local low and EMA 50 (3700) for potential long entry.
Our overall opinion is that price is much more bullish than bearish even though we saw this selloff. The selloff was very aggressive and we didn't see a follow up which is quite strange and the reason we think it was simply filling the stop loss orders and nothing more than that.
Looking at the altcoin market, we see very good breakouts last week of big resistance areas and now they are pullinng back to test them. If they turn resistance in the support, entire market may turn semi bullish in the March.
This would be invalidated if we see next move down and close below 3400. Then, get ready for new lows.
Accordingly to the current market conditions, we do not expect them to be reached in next week or two and we rather think the upward mometum will start very soon once few more sellers are shaken out.
To your susccess, CS Team!
BTC dominance is currently at 51.9% (-0.4%). The total market cap is currently at $130.6 billion (+ $1.7 billion). The market volume of the last 24h was $29.4 billion (- $8.8 billion).
Technical analysis
Daily time frame: https://www.tradingview.com/x/obN8Y3Nk
We are forming some kinnd of range between 3700 and 3800. The way this is going to end is quite interesting. If the drop was to 3900-3950, it would be way easier to trade because the short sellers would have clear target below around 3650-3700.
Now, as it dropped so fast to this area, even if people would agree that it looks bearish because of this sell off, what to target if you will short BTC?
What if this was shakeout before the rally? Looking at monthly chart, it is making bullish engulfing and clearly targeting resistance around 4500.
The close of the monthly canldestick is coming in two days, If it closes like this, it would be obviously bullish.
So, our trading idea is this. If price reaches 3930 (weekly resistance) you can try to to short it and target the local low (3700).
If the price start going down, look at the area around local low and EMA 50 (3700) for potential long entry.
Our overall opinion is that price is much more bullish than bearish even though we saw this selloff. The selloff was very aggressive and we didn't see a follow up which is quite strange and the reason we think it was simply filling the stop loss orders and nothing more than that.
Looking at the altcoin market, we see very good breakouts last week of big resistance areas and now they are pullinng back to test them. If they turn resistance in the support, entire market may turn semi bullish in the March.
This would be invalidated if we see next move down and close below 3400. Then, get ready for new lows.
Accordingly to the current market conditions, we do not expect them to be reached in next week or two and we rather think the upward mometum will start very soon once few more sellers are shaken out.
To your susccess, CS Team!
Forwarded from Future Crypto Experts - Paid Channel
Hello dear members, how are you doing?
Let's go through the coin that caused the entire move up, Ethereum.
Yeah, most of you know, the coin that sparked this entire market move up is actually ETH because of its strong fundamentals in form of Constantinople hard fork.
Most people think that the hard fork is type of trade where you buy the rumour and sell the news of buy before fork and sell right before the fork but let us share with you the reason why we think it wont happen this time.
It is fork that will not generate new coins which automatically means that there were not the buyers just because of free coins and because of that ,there will be no sellers that will want to get rid of ETH before the dump.
The fork is in our opinion quite bullish news because it will improve its specifications. The fees for smart contract creators will be lower which will help a lot of startups run their business on Ethereum blockchain.
On of the biggest controversy was the decrease in block reward that is part of moving to proof of stake. By decreasing mining reward, it will force miners to switch to something else so the entire network will be able to run on proof of stake.
So, in general, the situation fundamentally is quite well but the problem is that is happening is very strong bearish market.
Now, the chart is showing very clear picture.
https://www.tradingview.com/x/a2opLwdC
As you can see, it is currently at resistance but in the same time above EMA 50 D1 and 130 important price level.
So, if the current resistance gets reclaimed and turned into support, we would like for buying opportunity.
On the other side, if we broke below EMA 50 and 130 price level, our eyes will target at lest 15% drop to 110 or even low 100 levels.
It is all now the waiting game until price either shows bullish momentum or close below 130 and EMA 50 and create bearish.
Best regards, CS Team!
Let's go through the coin that caused the entire move up, Ethereum.
Yeah, most of you know, the coin that sparked this entire market move up is actually ETH because of its strong fundamentals in form of Constantinople hard fork.
Most people think that the hard fork is type of trade where you buy the rumour and sell the news of buy before fork and sell right before the fork but let us share with you the reason why we think it wont happen this time.
It is fork that will not generate new coins which automatically means that there were not the buyers just because of free coins and because of that ,there will be no sellers that will want to get rid of ETH before the dump.
The fork is in our opinion quite bullish news because it will improve its specifications. The fees for smart contract creators will be lower which will help a lot of startups run their business on Ethereum blockchain.
On of the biggest controversy was the decrease in block reward that is part of moving to proof of stake. By decreasing mining reward, it will force miners to switch to something else so the entire network will be able to run on proof of stake.
So, in general, the situation fundamentally is quite well but the problem is that is happening is very strong bearish market.
Now, the chart is showing very clear picture.
https://www.tradingview.com/x/a2opLwdC
As you can see, it is currently at resistance but in the same time above EMA 50 D1 and 130 important price level.
So, if the current resistance gets reclaimed and turned into support, we would like for buying opportunity.
On the other side, if we broke below EMA 50 and 130 price level, our eyes will target at lest 15% drop to 110 or even low 100 levels.
It is all now the waiting game until price either shows bullish momentum or close below 130 and EMA 50 and create bearish.
Best regards, CS Team!
Good morning dear friends, I hope you are doing great
It is February 27th, 2019
BTC dominance is currently at 51.9% (Same it was in the time of the last update). The total market cap is currently at $130.9 billion (It grew $0.3 billion from the time of our last update). The market volume of the last 24h was $25.5 billion (It dropped $3.9 billion since our last update).
Since last 24h didn't bring us some very important news in the market, we would cover directly technical side.
Daily time frame : https://www.tradingview.com/x/VV9dCvHo
As the monthly close is coming tomorrow, we would like to share our opinion firstly on monthly time frame before going deeper into daily.
Monthly time frame https://www.tradingview.com/x/Hyu7gud6
The red area was the support from 2017 that was broken in the late 2018 and we are still waiting for clear test.
At the moment of writing, the monthly is forming bullish engulfing candlestick pattern which tells us that March could be month when we are going to test this broken support.
Having that in mind, we expect to see more bullish action in March that will lead us to this resistance (4300-4700).
Even if we test it, it will still be the bear market in play and typical example of breakdown and retest before going deeper.
Even if the daily would look very bullish if price reaches this zone, considering the monthly, as long as we are below, it is bearish market for us.
Clear support on the monthly is the green area around 1100. Do we think it will be reached?
No, because on the weekly we have bunch of potential support areas firstly at 2900, next at 2500 and last one at 1800. So, if we broke through all these areas, we can start targeting monthly support which is less likely to happen in our opinion.
Back to daily, it is still in the range between support at 3700 and resistance at 3930-3950. In this moment, the price is exactly between these two areas so we do not have trading setup at the moment.
When in a range, the best option you can do is to long support and short resistance. If you try to play something in between, there is no tight stop loss because if you short at 3800 and put stop loss at 3850, even if you get stopped out, the short setup won't be invalidated because it can go up all the way up to 3930 and then drop. Putting stop loss above resistance would be too far and your risk reward would be meaningless.
Wait for the the price to reach either support or resistance to look for entry setup.
Best regards, CS Team!
It is February 27th, 2019
BTC dominance is currently at 51.9% (Same it was in the time of the last update). The total market cap is currently at $130.9 billion (It grew $0.3 billion from the time of our last update). The market volume of the last 24h was $25.5 billion (It dropped $3.9 billion since our last update).
Since last 24h didn't bring us some very important news in the market, we would cover directly technical side.
Daily time frame : https://www.tradingview.com/x/VV9dCvHo
As the monthly close is coming tomorrow, we would like to share our opinion firstly on monthly time frame before going deeper into daily.
Monthly time frame https://www.tradingview.com/x/Hyu7gud6
The red area was the support from 2017 that was broken in the late 2018 and we are still waiting for clear test.
At the moment of writing, the monthly is forming bullish engulfing candlestick pattern which tells us that March could be month when we are going to test this broken support.
Having that in mind, we expect to see more bullish action in March that will lead us to this resistance (4300-4700).
Even if we test it, it will still be the bear market in play and typical example of breakdown and retest before going deeper.
Even if the daily would look very bullish if price reaches this zone, considering the monthly, as long as we are below, it is bearish market for us.
Clear support on the monthly is the green area around 1100. Do we think it will be reached?
No, because on the weekly we have bunch of potential support areas firstly at 2900, next at 2500 and last one at 1800. So, if we broke through all these areas, we can start targeting monthly support which is less likely to happen in our opinion.
Back to daily, it is still in the range between support at 3700 and resistance at 3930-3950. In this moment, the price is exactly between these two areas so we do not have trading setup at the moment.
When in a range, the best option you can do is to long support and short resistance. If you try to play something in between, there is no tight stop loss because if you short at 3800 and put stop loss at 3850, even if you get stopped out, the short setup won't be invalidated because it can go up all the way up to 3930 and then drop. Putting stop loss above resistance would be too far and your risk reward would be meaningless.
Wait for the the price to reach either support or resistance to look for entry setup.
Best regards, CS Team!
Forwarded from Future Crypto Experts - Paid Channel
Hello dear members, I hope you are doing great
I know that crypto community have some special relationship with ripple. You either love it and you think it is the best one or how you like to call it #xrpstandard or you hate and think that it is highly controlled and has no value.
Whoever is right, the ripple is still doing great, it is right Bitcoin and Ethereum and it deserves our attention.
The latest Coinbase listing is one of the examples that shows their growth. They are constantly partnering with new banks and generally doing great things.
The main usage is cross border transactions between banks which has potential. Even if crypto in general stands against banks, they will be in game and some part will be centralised. Every crypto exchange is bank but in digital world. Binance, Kraken, Coinbase. They hold your monney, charge you fees. What is difference between crypto banks and real banks?
So, fundamentally the project is expanding more and more which is great for them.
Now, let's look at technicals and see what does price action show us.
Weekly time frame: http://prntscr.com/mqrfy7
Looking at this, it doesn't look good. Every pump was invalidated is clear sign of big number of eager sellers who bough ripple in the past. Big number of sellers is not good as long as they are still holding coins.
Slowly but steady it is losing momentum. First it lose 9000 sat as a support and turned into resistance, now it is fighting with 8000. But below 9000, there is no real support before potential 7000. The reason why 8000 has some power is recent Coinbase listing and simply because it is round number and people like to buy/sell round numbers.
But, the first potential support based on chart is 7000 because of its chances to become right shoulder of big head and shoulders chart pattern that would launch price to maybe new all time highs.
The first strong area to look to buy is around 6000 based on strong weekly price level. Breaking below that would be disaster because it would lead us to extremly low price levels from early 2018.
Considering the hype in the community, we expect every support to be bought and that's why we will have our eyes on these two areas: 7000 and 6000. This is not opening leverage position on Bitmex but actually buying coins and targeting some pretty high prices.
The reason why we think price may drop to these two mentioned areas is the Stellar Lumen chart.
Weekly time frame: http://prntscr.com/mqruer
As you may know, considering the fact that these two coins have the same owner, they used to move together in the past or to follow one another.
With the price action that we can see on the chart of Stellar, we would be even more bearish on Ripple and think price will visit our buy areas almost for sure.
It is holiding the last support before big sell off. It may hold out, but we do not like to base our buy entries on support that is established by the low of three wicks.
If it gets broken, God bless stellar holders 🙏
Another reason for being currently bearish on Ripple is the fact that is Bitmex altcoin and with big number of sellers, potential short squeeze may easily happen and in that case, it would cause move down not only on Bitmex but on other exchanges too.
If you are looking to buy, do it on one of these two areas or if they front run us and don't let price to reach them, buy once 9000 is reclaimed as a support. In that case, we would buy some but not as much as we would look to buy aroud 7000 (especially 6000).
Best regards, CS Team!
I know that crypto community have some special relationship with ripple. You either love it and you think it is the best one or how you like to call it #xrpstandard or you hate and think that it is highly controlled and has no value.
Whoever is right, the ripple is still doing great, it is right Bitcoin and Ethereum and it deserves our attention.
The latest Coinbase listing is one of the examples that shows their growth. They are constantly partnering with new banks and generally doing great things.
The main usage is cross border transactions between banks which has potential. Even if crypto in general stands against banks, they will be in game and some part will be centralised. Every crypto exchange is bank but in digital world. Binance, Kraken, Coinbase. They hold your monney, charge you fees. What is difference between crypto banks and real banks?
So, fundamentally the project is expanding more and more which is great for them.
Now, let's look at technicals and see what does price action show us.
Weekly time frame: http://prntscr.com/mqrfy7
Looking at this, it doesn't look good. Every pump was invalidated is clear sign of big number of eager sellers who bough ripple in the past. Big number of sellers is not good as long as they are still holding coins.
Slowly but steady it is losing momentum. First it lose 9000 sat as a support and turned into resistance, now it is fighting with 8000. But below 9000, there is no real support before potential 7000. The reason why 8000 has some power is recent Coinbase listing and simply because it is round number and people like to buy/sell round numbers.
But, the first potential support based on chart is 7000 because of its chances to become right shoulder of big head and shoulders chart pattern that would launch price to maybe new all time highs.
The first strong area to look to buy is around 6000 based on strong weekly price level. Breaking below that would be disaster because it would lead us to extremly low price levels from early 2018.
Considering the hype in the community, we expect every support to be bought and that's why we will have our eyes on these two areas: 7000 and 6000. This is not opening leverage position on Bitmex but actually buying coins and targeting some pretty high prices.
The reason why we think price may drop to these two mentioned areas is the Stellar Lumen chart.
Weekly time frame: http://prntscr.com/mqruer
As you may know, considering the fact that these two coins have the same owner, they used to move together in the past or to follow one another.
With the price action that we can see on the chart of Stellar, we would be even more bearish on Ripple and think price will visit our buy areas almost for sure.
It is holiding the last support before big sell off. It may hold out, but we do not like to base our buy entries on support that is established by the low of three wicks.
If it gets broken, God bless stellar holders 🙏
Another reason for being currently bearish on Ripple is the fact that is Bitmex altcoin and with big number of sellers, potential short squeeze may easily happen and in that case, it would cause move down not only on Bitmex but on other exchanges too.
If you are looking to buy, do it on one of these two areas or if they front run us and don't let price to reach them, buy once 9000 is reclaimed as a support. In that case, we would buy some but not as much as we would look to buy aroud 7000 (especially 6000).
Best regards, CS Team!
Lightshot
Screenshot
Captured with Lightshot
Good morning dear friends, I hope you are doing amazing
It is February 28th, 2019
BTC dominance is 52.2% (It is higher 0.3% since our last update). The market cap is currently at $130.6 billion (It dropped $0.3 since our last update). The market volume of the last 24h was $27.9 billion (It raised $2.4 billion in last 24h).
The biggest news today is Ethereum hard fork. It is software hard fork and there will be two of them : Constantinople and St. Petersburg.
The hard fork is in our opinion very bullish and here is the reason why. It will reduce fees that smart contract creator has to pay to use Ethereum blockchain service or simple said to run smart contract on Ethereum blockchain. It will allow these creators to focus more on the project they are doing.
Another positive update is decrease in block reward that will set up Ethereum for Proof of Stake that should occur in second half of 2019 per their words.
The proof of stake in our opinion is going to bring demand to Ethereum community because in order to be a staker, you will need only 32 Ethereum which is pretty affordable and there will be a lot of people interested to stake second biggest cryptocurrency.
So, our overal opinion is that it will bring positve things to Ethereum and after fork dump, apart from small decline of 5-10%, is not expected. Even if that happens, we will rather be buyers than sellers.
Hard fork will occur on block number 7280000 which will happen in next 8-10 hours from the time of writting.
Let's check out Bitcoin chart
Daily time frame: https://www.tradingview.com/x/Zt4a8fKV
As we mentioned in our last update, we are currently in the range between 3700 and 3950 and what you do in a range is very simple. You long support and short resistance.
The support at EMA 50 and green horizontal area played out perfectly and invalidated entire move down.
Hourly time frame https://www.tradingview.com/x/GpfmQrBs
On this low time frame chart, you can see how it acted and invalidated move down.
Now, back to daily time frame, it looks very good. We had big dump that didn't continue down. Two times it tried to drop, it got rejected both times.
This gives us clear sign that the drop was nothing but long squeeze otherwise drop would continue further down.
Since support acted very good, we are expecting potential test of resistance. The price action is generally bullish as long as it is above yesterdays low (3640). If it drops to that area, most likely we are going down to 3500.
Apart from scalping, we are not opening swing positions. Our ideal long entry would be around 3550 or after we broke above resistance with good confirmation by price action.
Everythinng else will be scalping (longing support, shorting resistance) as long as we are in this range.
Best regards, CS Team!
It is February 28th, 2019
BTC dominance is 52.2% (It is higher 0.3% since our last update). The market cap is currently at $130.6 billion (It dropped $0.3 since our last update). The market volume of the last 24h was $27.9 billion (It raised $2.4 billion in last 24h).
The biggest news today is Ethereum hard fork. It is software hard fork and there will be two of them : Constantinople and St. Petersburg.
The hard fork is in our opinion very bullish and here is the reason why. It will reduce fees that smart contract creator has to pay to use Ethereum blockchain service or simple said to run smart contract on Ethereum blockchain. It will allow these creators to focus more on the project they are doing.
Another positive update is decrease in block reward that will set up Ethereum for Proof of Stake that should occur in second half of 2019 per their words.
The proof of stake in our opinion is going to bring demand to Ethereum community because in order to be a staker, you will need only 32 Ethereum which is pretty affordable and there will be a lot of people interested to stake second biggest cryptocurrency.
So, our overal opinion is that it will bring positve things to Ethereum and after fork dump, apart from small decline of 5-10%, is not expected. Even if that happens, we will rather be buyers than sellers.
Hard fork will occur on block number 7280000 which will happen in next 8-10 hours from the time of writting.
Let's check out Bitcoin chart
Daily time frame: https://www.tradingview.com/x/Zt4a8fKV
As we mentioned in our last update, we are currently in the range between 3700 and 3950 and what you do in a range is very simple. You long support and short resistance.
The support at EMA 50 and green horizontal area played out perfectly and invalidated entire move down.
Hourly time frame https://www.tradingview.com/x/GpfmQrBs
On this low time frame chart, you can see how it acted and invalidated move down.
Now, back to daily time frame, it looks very good. We had big dump that didn't continue down. Two times it tried to drop, it got rejected both times.
This gives us clear sign that the drop was nothing but long squeeze otherwise drop would continue further down.
Since support acted very good, we are expecting potential test of resistance. The price action is generally bullish as long as it is above yesterdays low (3640). If it drops to that area, most likely we are going down to 3500.
Apart from scalping, we are not opening swing positions. Our ideal long entry would be around 3550 or after we broke above resistance with good confirmation by price action.
Everythinng else will be scalping (longing support, shorting resistance) as long as we are in this range.
Best regards, CS Team!
Block number 7 280 000 has been reached.
Ethereum Constantinople hard fork is live!
Ethereum Constantinople hard fork is live!