The frontier of September 30th was passed without any crash (even if someone predicted it). What a miracle!
As I always suggest, don't listen to the noise, but try to understand the situation looking at the charts.
BITCOIN
MEDIUM TERM
Daily chart
Very promising situation for Bitcoin:
1- Long term trend channel is positive
2- MACD has just given a buy signal
3- RSI is not in overbought area yet
So a continuation of this uprend is very probable and I think that first resistence (4670$) will be reached in short time.
After that, next target is historical high.
SHORT TERM
1 hour chart
Trend is positive, even if RSI shows an overbought situation, but it's physiological.
Targets are the same indicated in medium term analysis and supports are at 4390$ and 4268$.
ETHEREUM
MEDIUM TERM
Daily chart
Trend is still positive for Ethereum, MACD has given a buy signal, but I still underline a lack of relative strenght, so the growth is less determined than Bitcoin.
First resistence at 306.6$ and the second one at 389$.
SHORT TERM
1 hour chart
We are in a sideways trend and RSI is doing descending highs: this is a signal of weakness.
Before taking a position, I would wait for clearer indications.
Comments are welcome!
As I always suggest, don't listen to the noise, but try to understand the situation looking at the charts.
MEDIUM TERM
Daily chart
Very promising situation for Bitcoin:
1- Long term trend channel is positive
2- MACD has just given a buy signal
3- RSI is not in overbought area yet
So a continuation of this uprend is very probable and I think that first resistence (4670$) will be reached in short time.
After that, next target is historical high.
SHORT TERM
1 hour chart
Trend is positive, even if RSI shows an overbought situation, but it's physiological.
Targets are the same indicated in medium term analysis and supports are at 4390$ and 4268$.
ETHEREUM
MEDIUM TERM
Daily chart
Trend is still positive for Ethereum, MACD has given a buy signal, but I still underline a lack of relative strenght, so the growth is less determined than Bitcoin.
First resistence at 306.6$ and the second one at 389$.
SHORT TERM
1 hour chart
We are in a sideways trend and RSI is doing descending highs: this is a signal of weakness.
Before taking a position, I would wait for clearer indications.
Comments are welcome!
Comments
Post a Comment