Whilst we've been waiting for BTC's next upside move, we've seen some incredible gains in alts. Whilst BTC likes to defy TA, I find there are usually a few indicators that provide a useful bases for predictions.
Most importantly, via the Coinbase hourly BTCUSD chart we have confirmation of a break from the ascending triangle.
14 day RSI is moving into the oversold region which is often an indicator of a longer period of bulls taking control, pushing BTC towards a new high. In fact, our RSI pattern is showing similar behaviour to our previous breakout from the $11k-$12k levels.
Fib retracement from the previous breakout to the current high (the spike to $19,700), confirms several key levels of significance, namely the highs and lows in the ascending triangle. Fib also forecasts a target in the region of $24,250 to $25k for this trade.
If BTC retraces from the current level, we are looking to establish support at $18k (the top level of our ascending triangle).
We're on the cusp of a few big moves in several alts, but whilst BTC is poised for upside growth it would be prudent to include a trade here. Further BTC momentum could temporarily see the alts stalling (as occurred in the previous bull run). However, if BTC fails to establish support at $18k, alts may continue to provide a better yield in the coming days.
BLOCKCHAIN TRADERS
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Most importantly, via the Coinbase hourly BTCUSD chart we have confirmation of a break from the ascending triangle.
14 day RSI is moving into the oversold region which is often an indicator of a longer period of bulls taking control, pushing BTC towards a new high. In fact, our RSI pattern is showing similar behaviour to our previous breakout from the $11k-$12k levels.
Fib retracement from the previous breakout to the current high (the spike to $19,700), confirms several key levels of significance, namely the highs and lows in the ascending triangle. Fib also forecasts a target in the region of $24,250 to $25k for this trade.
If BTC retraces from the current level, we are looking to establish support at $18k (the top level of our ascending triangle).
We're on the cusp of a few big moves in several alts, but whilst BTC is poised for upside growth it would be prudent to include a trade here. Further BTC momentum could temporarily see the alts stalling (as occurred in the previous bull run). However, if BTC fails to establish support at $18k, alts may continue to provide a better yield in the coming days.
BLOCKCHAIN TRADERS
Contact me if you're a talented trader and would like to join our slack community.
注释
Here we see Fib providing confirmation of the key levels of significance.注释
We're now breaking the significant $19,800 level and we can expect this run to continue up until the CME futures launch tomorrow (Mon 18th Dec).See CME's statement on the launch here cmegroup.com/media-room/press-releases/2017/12/01/cme_group_self-certifiesbitcoinfuturestolaunchdec18.html
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