Crytpocurrency
ETHUSD $160.00 increasingly likelyEthereum is still failing to attract buying interest above the $200.00 level, leaving a further drop towards the $160.00 level increasingly likely. A bearish head and shoulders pattern has formed on the lower time frames which shows a potential fall in the ETHUSD pair. Overall, the $200.00 to $180.00 price range is critical for the direction of the second-largest cryptocurrency this week.
If the ETHUSD pair trades above the $200.00 level, key resistance is found at the $210.00 and $230.00 levels.
If the ETHUSD pair trades below the $180.00 level, key support is found at the $170.00 and $160.00 levels.
Double top on Cryptocurrency Marketcap/TOTALafter the hidden bearish divergence from obv, Bearish divergence in MACD and RSI with price action few days ago.
it's seems it's now forming a double top.
let see if the price action can hold 200 and 50 ema (green and purple line) as if will continue the bullish growth of crypto market if it's hold and vice versa..
interestingly it's happen not far to distant in the past..
check this out;
Similar double top pattern..
Though from OBV, RSI is quite flat line and follow the price action, MACD do stands out giving hint there's a divergence in volume with correlation a price action.. the price action end up into fibonacci horizontal around 0.236 and 0.382 .. if history keep it self repeat and still in bullish growth.. i expect yellow line in fibonacci retracement could be a good buy zone if the crypto market didnt have negative black swan event.
we will see what happen..
please do take this as a grain of salt, i'm not a financial advisor and this post just all my opinion only and feel free to share what your thought..
peace..
There is a possibility for the beginning of an uptrend in XZCETHTechnical analysis:
. ZCOIN/ETHEREUM is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 50.
. While the RSI and the price downtrend in the Daily chart are not broken, bearish wave in price would continue .
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.040570 to 0.030460). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.040570)
Ending of entry zone (0.030460)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
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BCH/USD - Triple bottom bullish patternBCH / USD
cmp 1789
target 2500+
stop 1500.
1) Nice triple bottom setup.
2) Price has broken multiperiod high spanning since inception for the first time with good volumes.
3) Post breakout price has retraced to previous resistance which should ideally act as a support