Tag: Cryptocurrencies

For the fourth month in a row, BTC has closed with a green monthly candle. Each candle closing stronger than the last. We are now closer to the previous all-time high (roughly 128%) than the bottom (approximately 170%).

https://www.tradingview.com/x/pRWNUKrN/

So are we due a Pullback?

Of course we are. Are we guaranteed to get one in the coming weeks? No, not at all even above typical market unpredictability.

Why not? All the typical TA indicators scream – correction.

For myself, 2 current factors serve to lessen the likelihood of an imminent (25-40% correction) which by the way I would love to see.

Institutional Money (Finally)

The possible

On 4hr chart, still hovering around the middle of the up channel. Stoch price looking for a downside move maybe testing the previous mentioned channel bottom 7900 zone. On hourly, looks like the price might still climb up. On weekly likely to close of long tail doji, if it closes below the week open 8732, we might see some sideway downside move next week.
News: (Current) | (Upcoming)
Short term moving average (day candle) :
RSI :
Network Value to Transactions Ratio :122
Total marketcap :275
Dominance :56
Bitfinex Margin Long/Short Volume Ratio :
Depth Chart : (S) | (R)
Weekly Timeframe :

Up – 9k then down down and up again. The market is certainly poised for a significant break. A steep retrace seems the most likely short-term outcome but zooming out a little the bull looks in. As typical in crypto, lots of news and narratives to recap. Block.one just announced a faster EOS and a new social media platform -jury’s still out as to whether this was an ‘event’ or not.

Pick of the Week

A thorough examination of the remittance market is my pick of the week. Though this week’s podcast for the following quote alone “Quantitative easing is universal basic income

On 4hr chart, narrow range consolidation likely to slide down testing the previous mentioned area 7900 zone (channel bottom and previous bull flag breakout line). Possible more weakness for stoch to cycle down doing lower highs together with the price.
News: (Current) | (Upcoming)
Short term moving average (day candle) :
RSI :
Network Value to Transactions Ratio :122
Total marketcap :272
Dominance :55.9
Bitfinex Margin Long/Short Volume Ratio :
Depth Chart : (S) | (R)
Weekly Timeframe :

On 4hr chart, testing the SR zone of 8300. Possible to slide some more towards the channel bottom around 7900 zone. On daily chart, possible HS, neckline could be around 7300 near closing or the shadow lows around 6500 which is about the big channel breakout previously.
News: (Current) | (Upcoming)
Short term moving average (day candle) :
RSI :
Network Value to Transactions Ratio :122
Total marketcap :262
Dominance :56.1
Bitfinex Margin Long/Short Volume Ratio :
Depth Chart : (S) | (R)
Weekly Timeframe :