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Cryptocurrency

BTC/USD - Weekly OverviewThe overall market conditions are falling into the bear trap towards the end of August. The past monthly performance of BTC suggests that the upcoming month of September is said to be bearish and the build-up is witnessed during the end of August. Pretty much similar happening in the current market scenario. Moreover, after a negative breakout from the rising channel pattern during the past week, the price level has faced a steep decline and potentially formed a falling channel. Technical indicators suggest that more downfall can be expected in the upcoming days. RSI level has reached the oversold region and needs a positive bounceback. MACD levels have gone below the histogram again and faced multiple bearish crossovers. Overall, incase of further downfall, support levels can be placed at $18K and $17K. However, if the world’s largest cryptoasset showcases some positive momentum, resistance levels can be placed at $21K and $23K.
COINBASE:BTCUSDShort
by TradeDog-Research
Ethereum forming Head & shoulder pattern.Ethereum is forming a head and shoulder pattern on a daily time frame after retracing the fibonnaci level of 38.2% and 20 DMA. The coin has given a nice movement and is retracing before another up move. The coin is trading below the moving averages. Two confirmation patterns are being formed in the coin on the daily time frame 1. Head and shoulder pattern 2. Bearish III continous pattern A down side moment can give nice targets as there a 3 confirmation. 1. Trading below 20 ema(daily time frame). 2. Break of Head and shoulder neck line. 3. Volumes are high. Support :- 1390, 1245. Resistance :- 1715, 2000 US markets fell about 1000 points (3%). The crypto markets can also fell the pain. Wait for the coin to break the support and form some price action near it.
FOREXCOM:ETHUSD
by TheMamboMomentum