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Are We About To See A Mini Altcoin Season?

Bitcoin (BTC) has recently shown signs of weakness but despite all of that, I see a changing outlook and as responsible traders we need to adjust accordingly. Most of you are wondering how I turned from talking about “further downside to come” to being bullish on the market. Let me say that I still remain bearish on the market long term but it is hard to ignore present developments that signal further upside near term. The daily chart for EUR/USD shows us that it is the first time in a long time that we have seen the pair not only...

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Why Bitcoin (BTC)’s Near Term Weakness Could Be A Massive Bear Trap

Bitcoin (BTC) has been very bearish the past few days which has made a lot of investors worried. Ironically, some bears like me that have been short since the local top now think we have come to a point where it is not worth the risk/reward to be short on Bitcoin (BTC) for now. There are a lot of reasons that suggest that the recent weakness in the market could actually be part of a major bear trap that could lead to a massive short squeeze in the near future. The difference between the bulls and the bears is that...

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Sally Ho's Technical Analysis 17 October 2019

Bitcoin Bitcoin (BTC/USD) was generally weaker early in today’s Asian session as the pair traded as low as the 7957.55 area after trading as low as the 7098.86 area during yesterday’s European session.  The pair depreciated sharply from the 8171.50 area during yesterday’s European session as BTC Bears finally found the conviction to push the pair below the 8130.75 area, representing the 61.8% retracement of the 7701.00 – 8826.00 range.  BTC/USD continues to trade below its 50-bar MA (hourly), 100-bar MA (hourly), and 200-bar MA (hourly). Stops were elected below the 7966.50 area during the pair’s move lower, representing the...

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Ethereum (ETH) Likely To Test 61.8% Fib Retracement Level If It Breaks Resistance

Ethereum (ETH) like other altcoins is on the verge of a breakout and this could have long lasting effects for the price depending on how the price breaks out. For now, I expect it to trade within the symmetrical triangle but it will soon have to breakout. In my opinion, we are more likely to see a sharp breakout to the upside than to the downside. The reason I expect that to happen is because conditions are extremely oversold on the 4H time frame for ETH/USD just when the price is about to break out. For the past 24 hours,...

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Bitcoin (BTC) Bulls Might Soon Take Control

When something seems too good to be true, it usually is too good to be true. In this case, I’m talking about ETH/USD and the manner in which it has declined. We have seen a sharp decline that was too obvious and a lot of traders might have profited off that. Most of you know that I have been bearish on Ethereum (ETH) since $222 but now I can see the outlook changing near term and this is why I would be very cautious being bearish here anymore. You can see on Crypto Twitter and YouTube that people have started...

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