What trade coin today? - 07/07: Trader do not rush to celebrate

ngothachhuy (12)in #cnbitcoincryptocurrency • 4 years ago

Do not be happy, bro, the downtrend remains the same and has never been broken, regardless of whether the rally yesterday was very noticeable. At times of trend transfer, or if we think a trend is being transferred, caution is the most important keyword, do not rush to get the market's bitter trick again.

Bitcoin BTCUSD bitstapm H4
Chart in advance

Current chart

Buy BTC yesterday hit the bottom, taking profit 2R

The price bounced up as expected from the breakout tease, actually the breakout of the tease and false break gave the rafters on the order of the trend quite high probability. Currently, the price is touching the resistance zone that crosses swing high leading to the lowest bottom - the line that confirms whether the trend will turn up or not. As long as this zone is broken up and closed completely above, the lower top structure - the lower bottom will be broken, because we have a higher peak. Ie the downtrend reverses to increase.

Price is reacting to this area, since this is the last resistance wall of the bears, so there's definitely a battle going on here. We need more price data to know which side will win, so waiting is necessary at the moment, not at all.

Is it possible to sell from here down, in theory yes, because the downtrend is still there and you just need to wait for a discounted setup to sell. For me, I would choose to wait instead of sell, to see if this attempt was successful or not

Ethereum ETHUSD bitstamp H4
Chart in advance

Current chart

Buy ETH yesterday hit the bottom, taking profit 2R

ETH rose stronger than BTC, but still failed to break down of the bearish structure, as the peak leading to ETH's lowest bottom was high. Thus, the ability to break the trend in the short term is quite low, so the contract is still brighter for ETH.

Sell from the resistance down when the price touched and formed a nice setup

XRP XRPUSD bitstamp H4

Sell XRP yesterday not yet

Price is hitting resistance and showing signs of exhaustion, which can be sold from here.
Sell when price breaks down to the bottom of the last second bullish bar.

Litecoin lTCUSD bitstamp H4

LTC lease market yesterday has not been

The price has theoretically passed through the lower-lower peak structure, but is still faltering. I want to know how the price will react next so I'll wait for more before making a decision. A downfall is entirely possible in the present, so we wait to buy.

Wait for more price response

Binance coin BNBUSDT binance H4

Sell BNB contract yesterday

The reduced structure has been completely broken, the pump of BNB is very strong, stronger than the other coins. Wait for the price to return and buy the board. This is a sign that BTC can also break the downtrend.

Bitcoin cash BCHUSD bitstamp H4

BCH sell contract yesterday has not been