Bitcoin Update and Possible Continuation & Congrats to the Ethereum Traders!

aezakmi (58)in #bitcoin • 5 years ago

Bitcoin daily - so far so good

After the initial price spike, Bitcoin seems to do pretty good for now. Currently we're riding along Ichimoku's Tenkan (blue) but find some resistances as we're approaching the fat cloud. However, a significant cloud - squeeze happened: it lost almost 40% of its thickness (square). At the moment there's no bearish divergence happening: the higher highs in the price action is confirmed by the higher highs in the RSI.

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Bitcoin 4H:

We finally have a bullish Ichimoku breakout, with almost ideal conditions. However, the green support cloud below us is kinda shy and there's also a bearish RSI divergence: price higher highs - RSI lower highs (see the trend lines).

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Moving Averages

We finally broke the 55 day MA (blue) resistance, but there's no guarantee that everything will stay positive: I wouldn't call this bullish until we don't interact with the 100 day MA (red) in max 10 days from now. As you see, there's also a symmetrical triangle pattern building, which could lead to a breakout or a breakdown. It really depends on how the 55 will clash with the 100 day MA.

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Bitcoin possible continuation

A very optimistic and full of hope continuation is this one right here: we're seeing a Adam and Eve pattern building (img. attached). We could ride along Eve's parabola & the 21 MA (yellow), break the resistance at ~4100$, head up a little further and then see a correction to find support at the previous resistance. This however is quite an optimistic view. The volume is also shrinking, which usually is a bad sign.

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`Ethereum Update for whoever got in!`

I have to squeeze this Update in this post because I'm out of RC. I'm sorry.
Here's the original call.

@theskmeister, @jsl416, @wakeupkitty - I'm sorry, I can't answer to your comments because, how I said, I'm out of RC's. I really appreciate your activity.
Now, whoever got in as soon as the breakout happened and sells right now, congrats, you made 11% profit. If you also did use margin trading options, even better. Be aware, the RSI indicates bearish divergence: higher highs on the price action, flat tops on the RSI! A correction is most certainly going to happen.

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ETH Moving Averages

Ethereum is seeing a beautiful breakout: we broke the accumulated resistance of the 55 MA (blue), 100 day MA (red) and the top line of the symmetrical triangle! But as in everything else, what goes up has to come down - so beware of a correction in the future. It would be very healthy for us to see the 55 heading up again and to bounce off it in the next correction.

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Here's the ETH evolution on Twitter

These are some of the exchanges I use:

_{You can support my work by registering via these links or donate to the ETH / BTC addresses below.

Any amount is highly appreciated!}

Bitfinex - my most used exchange
Binance - most popular exchange
Kucoin - excellent exchange, rising in popularity
Gate - for small cap / new coins
Huobi - margin trading
Coinexchange - big variety of coins
Magic Dice - Feeling lucky? Gamble your money
Freebitco.in - earn free Bitcoin & high prices - if you're lucky
0xe1347a6F7f44fdd6Ae8B2fA80E1c8e1e4a13C7a5 - If you wish to donate ETH / or ERC-20 tokens
19feKUFZ4XgYbFLQf4MA3B8RnmF5s98m53 - If you wish to donate BTC

Thank you!

Find me on Twitter updates

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