Ethereum Logarithmic Weekly Regression shows targets of $2271, $3124, and $4375. Based on prior support, $3124 seems likely. What about Bitcoin you ask? Well, the Weekly Regression indicator doesn’t quite work but fitting it to a 4D chart reveals a potential price target of $61,734. The chart below shows how the bands look when applied to the Weekly chart, they act more like support rather…
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Ethereum is showing its first true signs of its potential to outperform Bitcoin in the months ahead after a strong rally that has resulted in the first 8/34 EMA crossover seen on the 4 Day chart since May 2018. If you are unfamiliar with why this is a bullish signal, I’d suggest reading my crash course on Moving Averages. In short, when short term averages…
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After a nasty selloff and long consolidation, the concurrency market in general appears to be finding some support. One asset in particular which has well outperformed Bitcoin in the past year might be giving patient buyers another chance to get in on the next move. Looking at the Chainlink/Bitcoin daily chart, the 200EMA has proven to be a reliable support indicator. Price data over the…
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The Bitcoin 4 Day chart is showing record amounts of volume on Coinbase Pro following a huge price crash as financial markets across the globe see record losses during the 2020 Coronavirus Pandemic. The volume measurements register higher than the infamous 2017 Bull run and most recent 2018 Bull Runs at their respective peaks. This says a lot of Bitcoin buyers are interested in the…
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We will start this TA with the daily chart. The first thing to pay attention to is the green line trend line that can be followed back to April of 2019. We saw a second form of support with this level in October of 2019 around $7600 before spiking hard to retest the red line. That resistance held and price broke down in November for…
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As we move further into 2020 its becoming more clear that the bulls are back in town. The cryptocurrency market is rising again and Bitcoin could be on its way to achieving new highs after a brutal bear market in 2018. With Bitcoin trading above $10,000 once again, its helpful to get a birds eye view of the overall market to determine where things could…
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