Here are todays' quick Crypto Market Update.
BTC - 12 Hour Chart
Tools used: Ichimoku Cloud, RSI and Trendlines
BTC is almost out of ichimoku cloud resistance on the 12 hour chart. And when that happens, I wouldn't be surprise if BTC have another rally to the upside. So far BTC briefly touched the key level support around $7,800 which I mentioned on my previous posts.
If BTC breakout from this cloud then rally, that last support retest would be higher lows on BTC chart. Which we haven't seen for a while and is telling us that BTC is getting bullish momentum again.
If BTC breakout from this cloud then rally, that last support retest would be higher lows on BTC chart. Which we haven't seen for a while and is telling us that BTC is getting bullish momentum again.
ETH - 12 Hour Chart
Tools used: Ichimoku Cloud, RSI and Trendlines
On ETH chart there is still that bearish divergence. Although it is not very clear and clean but there is a possibility of pullback happening. Now, I'm not talking about price crash. I'm talking about a small correction since the overall tone of crypto market today seems bullish.
A retest of previous key level support around $450 would be good for ETH. As I said yesterday as well. This would confirm higher lows and that ETH is gaining bullish momentum similar to BTC.
A retest of previous key level support around $450 would be good for ETH. As I said yesterday as well. This would confirm higher lows and that ETH is gaining bullish momentum similar to BTC.
LTC - 12 Hour Chart
Tools used: Ichimoku Cloud, RSI and Trendlines
In the time that BTC is consolidating, LTC is slowly breaking out from its previous resistance around $135. And so far LTC is making higher highs so this is a good sign overall on LTC price action.
Steem - 12 Hour Chart
Tools used: Ichimoku Cloud, RSI and Trendlines
Here is the same chart I showed you yesterday with my possible breakout trade. As you can see on the 12 hour chart Steem briefly almost touched my price target. Well depending on where you put your sell order that is.
I calculated that jump and roughly it was about 15% so if you took my rough trading plan and adjust it with your style. You should have at least 15% on the upside. Maybe take some small profit off the table to put on other possible trade setup.
I calculated that jump and roughly it was about 15% so if you took my rough trading plan and adjust it with your style. You should have at least 15% on the upside. Maybe take some small profit off the table to put on other possible trade setup.
Disclaimer
You know the drill guys. This is just opinion and not a financial advice. Do your own research and decide your own trades. Cheers!