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Poloniex

BTC - Another breakoutAfter the failed breakout of BTC a couple of days back, it was natural it would go back down (mostly due to the high RSI). I anticipated a bounce somewhere in the $9.5-10k zone, which was confirmed (dotted arrows), altough it didn't make it as far up as I had guessed. Instead it kept a low profile in the bottom or right below my support zone. And now, in the light of the Circle announcement we see a breakout once more, ao I'd like to share my thoughts. First of all I see a resistance around $11k. It's the 0.382 fib, but it's also a previous resistance. I don't think this will be a tough one to break through, so it wouldn't be surprised to see the current momentum break it. In that case, the next resistance seems to be around the previous $12k resistance, which was the moment before the recent drop. I'd say the RSI indicates some room upwards before being above 70, but that means it won't have enough fuel to go through $12k. In that scenario, I hope to see BTC break through the $11k resistance and confirm it as a support. That would give us the first resistance outside of the bear channel, and would be a really good bullish signal! Enough to make me enter the market again with 25% of my holdings. My hope is to see BTC recover nice and steady, and that means two steps forward and one step back. One step forward is always a step in the right direction, so let's hope BTC keeps on walking! :)
by Pungvift
BTCUSD BTCMXN Poloniex- Tocamos el canal de nuevoDespués de haber bajado y entrado a la zona de demanda y llegamos a 9200, de ahi tuvmimos una consolidación, seguida por una fuerte subida. Justo en este momento nos encontramos tocando la resistencia del canal bajista. Debemos romper y cerrar arriba de esta línea para tener un mayor movimiento alcista. En este mismo nivel se encuentra el 50 EMA, en nuestra gráfica de día. El MACD acaba de tener un cruce alcesta, como otro buen indicador a una mayor subida. Nuestro RSI tuvo una ligera divirgencia alcista mientras los precios seguían desendiendo, lo que resulto en la subida de hoy. Posteriormente podemos esperar una fuerte resistencia alrededor de 0.618, si pasamo sesta resistencia tendremos un mayor movimiento alcista. Si no logramos cerrar sobre el canal, bajaríamos de nuevo. Gráfica de día
by CryptoChica
DASH of salt/pepper: Consolidation Rectangle! (DASHUSDT)Jolly late evening to those of you on the U.S. East coast with me. Good morning to others and happy hour somewhere... someplace?! I promised an Alt coin analysis before bed so here it is: DASH ... With some extremely EXCITING week-long consolidation (can you sense my sarcastic passion with this?). Let's break it down. DASH has been showing a consolidation pattern, which means the Bulls are tired of buying... The Bears are tired of fighting the Bulls.... so price action just sits in this fun rectangle as displayed in our 4 hr chart. Consolidation may be boring.. but it's of utmost importance! Consolidation is almost always what happens before a huge breakout... either to the upside or downside. Some may even pay GREATER attention to the details during a consolidation. That being said, the signals are basically net neutral, so that's why I can't say either/or here. Here is evidence of the consolidation: -no candle has CLOSED outside of the rectangle -MACD hovering near 0 (so little momentum occurring) -Volume is poop -RSI going down and below 50... but price action is above 200 EMA. This puts us in a ranging market, so no extremely clear POSITIVE/NEGATIVE trend. -Previous "trend" was the breakout of a negative trend line(drawn from DAY chart)... but the trend did not gain much steam before this pattern, which leaves us with little bias towards how this rectangle will turn out. Overall, not much excitement here. I am not taking any personal positions but I thought it was a great learning opportunity for us to make targets from it eventually and see what happens. I will update accordingly. Hope I provided some good night-stand reading/ morning dump diaries/ happy hour beer breaks... depending on your time zone ^_^ Don't Watch ! <3 -Doc
by DontWatchDoc
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