It is facing resistance and I will not be interested in longing ETH until I see ETH/BTC pair is going up.
If I think ETHUSD will go up, I will long rather BTCUSD because ETHBTC pair is losing support and that’s why we see Bitcoin outperforming Ethereum.
Not interested in Ethereum at the moment. Close above resistance ($300) and we will be at $400 easily.
Without close, we can go back to $200 which is the first significant support.
If I think ETHUSD will go up, I will long rather BTCUSD because ETHBTC pair is losing support and that’s why we see Bitcoin outperforming Ethereum.
Not interested in Ethereum at the moment. Close above resistance ($300) and we will be at $400 easily.
Without close, we can go back to $200 which is the first significant support.
This doesn’t look good. It is struggling 5 weeks in a row to close above resistance and reclaim broken support.
How it can be bullish to someone when this chart displays a huge weakness?
Don’t be obsessed with picking up the bottoms because you can end up being holder for a couple of months easily and the money you could use to trade will be locked.
Considering that the main target is 80% from the price, you will be able to buy it once support is reclaimed and still have the great profit potential so just keep your eyes on this coin but don’t buy it as long as it is below support.
The area below support for buying is the area of these wicks. You can place some orders there but not more than 30% of the position you would normally take on your trade.
How it can be bullish to someone when this chart displays a huge weakness?
Don’t be obsessed with picking up the bottoms because you can end up being holder for a couple of months easily and the money you could use to trade will be locked.
Considering that the main target is 80% from the price, you will be able to buy it once support is reclaimed and still have the great profit potential so just keep your eyes on this coin but don’t buy it as long as it is below support.
The area below support for buying is the area of these wicks. You can place some orders there but not more than 30% of the position you would normally take on your trade.
The price is still in the range. You never know if the range is going to be bullish or bearish.
Looking at the price action that led to the creation of this range, we would give it a bullish character.
The resistance got broken and the price is consolidating above. That’s bullish but we need the price to start taking out previous high ($0.48) in order to expect targets to be reached ($0.57 and $0.79).
It is a waiting game until price action shows the sign. More bullish than bearish at the moment.
Looking at the price action that led to the creation of this range, we would give it a bullish character.
The resistance got broken and the price is consolidating above. That’s bullish but we need the price to start taking out previous high ($0.48) in order to expect targets to be reached ($0.57 and $0.79).
It is a waiting game until price action shows the sign. More bullish than bearish at the moment.
I do not want to spread the FUD but this is not looking good.
Yeah, it is testing support, but it is the third time in less than a month and I am not sure if it’s going to hold again.
If you look for the upside targets, they are pretty high. If this pair is about to go up, it is the same if you enter at 4500 or 5500 sats because both of them are offering high profitable setup.
But entering above 5500 will give you well-needed confirmation.
If you want to gamble, you can try buying support on the third test but make sure to get out of that trade if it gets broken because it can drop 20-30% easily.
For us, Ripple is a waiting game. If it reclaims the blue area, we will long it.
We tried with a long setup but got out in small profit after we were invalidated. No reason to rush in a trade.
If XRPBTC is looking more bullish, we would be extremely bullish on XRPUSD trading range but looking at this chart, our bullishness on XRPUSD is not that high.
Yeah, it is testing support, but it is the third time in less than a month and I am not sure if it’s going to hold again.
If you look for the upside targets, they are pretty high. If this pair is about to go up, it is the same if you enter at 4500 or 5500 sats because both of them are offering high profitable setup.
But entering above 5500 will give you well-needed confirmation.
If you want to gamble, you can try buying support on the third test but make sure to get out of that trade if it gets broken because it can drop 20-30% easily.
For us, Ripple is a waiting game. If it reclaims the blue area, we will long it.
We tried with a long setup but got out in small profit after we were invalidated. No reason to rush in a trade.
If XRPBTC is looking more bullish, we would be extremely bullish on XRPUSD trading range but looking at this chart, our bullishness on XRPUSD is not that high.
Hope you enjoyed the second #CryptoMonday in our channel where we cover the technicals for top3 cryptocurrency in the market.
Let see how this week rolls out. If you have any question, feel free to reach out to @CryptoSignalsAdmin.
Let see how this week rolls out. If you have any question, feel free to reach out to @CryptoSignalsAdmin.
If you have a friend interested in crypto, you can invite him in our channel to get benefit from our work.
You can use this link for invitation: https://news.1rj.ru/str/CryptoExpertSignals
You can use this link for invitation: https://news.1rj.ru/str/CryptoExpertSignals
Because of positive response to #CryptoMonday, we decided to analyse 2 more coins.
In the morning we covered top3 cryptocurrency and now we will go over 4th (Litecoin) and 5th (Bitcoin Cash).
In the morning we covered top3 cryptocurrency and now we will go over 4th (Litecoin) and 5th (Bitcoin Cash).
As we said yesterday in #TechnicalEvening, the weekly close was very bearish and this drop on the opening of the new weekly is not a surprise.
We were long Litecoin from 0.01350 and close at 0.0155 in our paid channel.
Some people will say you missed a significant amount of profit. I would say I made great trade and booked a great profit.
As a trader, never forget to book the profit and reward yourself. I can buy/long it now 7% below my exit price but I wait for the setup to align.
The setup is bullish rejection from 0.0130-0-0140 area. People will say it is too large range. No, it’s not when the target is at 0.0180 or at least 0.0170.
What we need to see is a big up candle on daily time frame bouncing off this range. If that happens, on the next retrace we will take new trade on Litecoin.
Don’t buy it without big up candle on daily time frame because if BTC moons there is always the possibility for altcoins to break the support and drop even more.
We were long Litecoin from 0.01350 and close at 0.0155 in our paid channel.
Some people will say you missed a significant amount of profit. I would say I made great trade and booked a great profit.
As a trader, never forget to book the profit and reward yourself. I can buy/long it now 7% below my exit price but I wait for the setup to align.
The setup is bullish rejection from 0.0130-0-0140 area. People will say it is too large range. No, it’s not when the target is at 0.0180 or at least 0.0170.
What we need to see is a big up candle on daily time frame bouncing off this range. If that happens, on the next retrace we will take new trade on Litecoin.
Don’t buy it without big up candle on daily time frame because if BTC moons there is always the possibility for altcoins to break the support and drop even more.
If someone asks you what an uptrend is, show him/her this chart.
LTCUSD is a perfect example of an uptrend. Step by step, no big corrections, not stop hunts, all the time above both MA (moving average).
Simply said perfect uptrend.
Now, there will be people asking when it will correct?
What if it doesn’t correct and not only continue going up but starts parabolic move up?
The fundamentals for Litecoin are very positive so there is no reason to fight the trend.
Very bullish and I wouldn’t be surprised if we see $200 soon.
LTCUSD is a perfect example of an uptrend. Step by step, no big corrections, not stop hunts, all the time above both MA (moving average).
Simply said perfect uptrend.
Now, there will be people asking when it will correct?
What if it doesn’t correct and not only continue going up but starts parabolic move up?
The fundamentals for Litecoin are very positive so there is no reason to fight the trend.
Very bullish and I wouldn’t be surprised if we see $200 soon.
I am not a fan of trend lines but I have to use one of them because it can be very valuable to this analysis.
If we see a bullish candlestick pattern (bullish pin bar or bullish engulfing) and close above green resistance, there is a high probability that we will see at least test of main resistance at 0.065.
However, if we see a close below the trendline, the potential bullishness will be canceled as long as the broken support is not reclaimed.
The bearish MA cross is something that doesn’t support bullishness but if we see that rejection and a close above support, we will get bullish MA cross that will invalidate the prior bearish cross.
This could be tradable but only after bullish sign. Without that sign, this can go down step by step.
If we see a bullish candlestick pattern (bullish pin bar or bullish engulfing) and close above green resistance, there is a high probability that we will see at least test of main resistance at 0.065.
However, if we see a close below the trendline, the potential bullishness will be canceled as long as the broken support is not reclaimed.
The bearish MA cross is something that doesn’t support bullishness but if we see that rejection and a close above support, we will get bullish MA cross that will invalidate the prior bearish cross.
This could be tradable but only after bullish sign. Without that sign, this can go down step by step.
BCHUSD is facing resistance area. The main resistance for this pair is around 640.
Currently, the price is 30-35% lower so if we see bullish price action on BCHBTC pair, this one can offer profitable trade setup too.
We would like to get a bullish close above first resistance. So far it rejected price a couple of times which is not the price action bullish setup forms.
We would be much more interested if price crosses and closes above the main resistance because profit target would be way better.
Buying or longing now makes sense only if perfect setup forms.
Currently, the price is 30-35% lower so if we see bullish price action on BCHBTC pair, this one can offer profitable trade setup too.
We would like to get a bullish close above first resistance. So far it rejected price a couple of times which is not the price action bullish setup forms.
We would be much more interested if price crosses and closes above the main resistance because profit target would be way better.
Buying or longing now makes sense only if perfect setup forms.
With Greed at 84% (The highest in history), Bitcoin has to go up.
If it doesn’t, there will be a divergence between market sentiment and price behavior.
If the price doesn’t go up, then prepare for mini 2018 bear cycle.
The price has to be affected by the Greed at the all-time high. If it doesn’t, there should be the reason and that reason wouldn’t be bullish.
If it doesn’t, there will be a divergence between market sentiment and price behavior.
If the price doesn’t go up, then prepare for mini 2018 bear cycle.
The price has to be affected by the Greed at the all-time high. If it doesn’t, there should be the reason and that reason wouldn’t be bullish.
Send me some questions about crypto, trading and investing that are not related to technicals.
I will choose couple of them and answer tomorrow morning here in the channel.
Send questions to @CryptoSignalsAdmin
I will choose couple of them and answer tomorrow morning here in the channel.
Send questions to @CryptoSignalsAdmin
A lot of interesting questions came to @CryptoSignalsAdmin. I will choose a couple of them and share the answer with all of you. I hope it will be valuable to you.