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Crypto Technical Analysis

Crypto Technical Analysis

Key Takeaways Bitcoin took the lead in pushing back to new all-time highs on a closing basis Tuesday, coinciding with the successful launch of Proshares Bitcoin futures-based ETF Initial upside targets for BTC above 65k lie near 72.50k, then 89k, and thought to be definitely...

Biggest S&P Reversal since February- What’s Next?

Ethereum set to gain in relative strength & should join Bitcoin in exceeding Sept highs

Key Takeaways Ethereum looks to be starting to gain on Bitcoin after a near one-month period of underperformance throughout September Breakout in ETHUSD “Market-cap Dominance trends should help Ethereum to gain ground in relative strength and break out of highs just over 4000 from September Both ETHUSD and BTCUSD should...

Crypto breakout drives massive short-covering, looks important technically

Key Takeaways Many Cryptocurrencies look to have made significant technical breakouts starting early Friday morning with BTCUSD, SOLUSD, ETHUSD, LTCUSD, and XRPUSD all jumping 8% + Technically this looks to be a positive given prices having eclipsed weekly highs as well as one-month downtrends. This gives rise to the possibility...

BTC tests 15K – Now what? – Buying pullbacks in an emerging bull cycle

BTC SURGES THROUGH 13.8K RESISTANCE = ANOTHER LONG-TERM BULLISH TECHNICAL DEVELOPMENT IN BTC’S FAVOR.  BTC’s recent surge through the June 2019 resistance highs at 13.8K is yet another bullish check mark confirming a new bull cycle. While a very short-term pause appears likely (see below) we encourage investors to remain...

What next after BTC’s surge toward next resistance near 13.8K?

For a full copy of this report in PDF format click this link. After surging through resistance at the August highs near 12.5K  over the past week, BTC is closing in on next major resistance near June 2019 highs at 13.8K. With short-term trading indicators pushing into overbought territory, traders...

Crypto sells off with risk assets but is holding above first key support

Crypto sell off with most risk assets – Cryptocurrencies broadly sold off today along with most risk assets raising the question of whether a bigger correction is developing. While a deeper correction is always possible it is premature to technically conclude BTC’s May-June trading range is morphing into a downtrend....

BTC remains range bound as select Alts showing signs of bottoming

A pullback for BTC along with most risk assets but a few key Alts showing early signs of bottoming  at support – Cryptocurrencies, faded over the past week, with BTC dropping from just under 10K resistance last Tuesday in conjunction with most other risk assets, with short-term lows developing this...

Crypto break-outs pending? Tight consolidations look bullish

Seeing is believing for many TA’s but traders and investors don’t always have that luxury – Many technical analysts understandably prefer to see technical patterns resolve in one direction or another before committing new capital to a developing trend. We  have said it before, pre-judging technical patterns before they resolve...

BTC whipsaws but select Alts soldier higher following May break-outs

BTC’s temporary break out leaves it back in the box but Alts continue to trend higher. BTC, once again, whipsawed traders over the past few days temporarily gapping up above the widely watched 10K resistance level only to gap back down into its May trading range to test 9.1K support...

BTC consolidating at resistance but ADA breaks out, ETH likely to follow

Over the past week BTC broke below near-term support levels at its 15-dma and then a key level 9.1K coinciding with its March-May uptrend, only to bounce back over the past three days. In fact, while the very short-term volatility violated near-term support raising trading concerns BTC was potentially into...

10K remains key resistance for BTC with 9.1K important trading support

Similar to other risk assets, such as the S&P 500, BTC has traded in a relatively narrow range under resistance through May. A breakout in either direction from the recent trading range is likely to signal BTC’s next tactical  directional shift. 10k followed by 10.5k remain the levels traders are...

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