Discretionary outlook based on charts
- If Bitcoin breaks above its 50sma, next target is $10k. Otherwise still bearish.
- Ethereum has broken out above its 50sma. Next resistance at $640.
- Bitcoin Cash has broken out above its 50sma. Next resistance at $1200 (100sma).
- Ripple has broken out above its 50sma. Next resistance at $1.1
2:46 am. Bitcoin is still capped by its 50 daily moving average
Bitcoin is stuck in a bearish pattern of “lower highs and lower lows”. It was not able to break its $9000 “higher high” level.
Bitcoin is being continuously pushed down by its 50 daily moving average. If Bitcoin breaks above this resistance, it will probably retest its $10k resistance level.
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2:41 am: Ethereum has broken out above its 50sma. Next resistance at $640.
Unlike Bitcoin, Ethereum has broken out above its 50 daily moving average. Its next resistance is at $640 (prior supports).
(Click on image to enlarge)
2:35 am: Bitcoin Cash has broken out above its 50sma. Next resistance at $1200 (100sma).
Unlike Bitcoin, Bitcoin Cash has broken out above its 50 daily moving average. Its next resistance is at $1200 (100 daily moving average).
(Click on image to enlarge)
2:24 am: Ripple has broken out above its 50sma. Next resistance at $1.1
Unlike Bitcoin, Ripple has broken out above its 50 daily moving average. Its next resistance is at $1.1 (prior support and resistances).
(Click on image to enlarge)
