10/10/2018/20:50CET
The crypto market is still in a lull state, anticipation is growing, and everyone is chomping on the bit.
This is going to be a quick and dirty review and update guys.
#BTC is trading at 6617 usd at press time
We did have a dip down to 6513 earlier today but there was too much dip buying. This has bulked up the volume levels for today.
Some key levels to look at...
- we are on top of the 21dema which is at 6598, just 15 buck below us.
- the 50dsma is at 6637 just which we look like we will get our leg over shortly again if action keeps up.
- the 100dsma is at 6787 which is about 2.5% away from us at the moment
- and lastly the 200 dsma is at 7249, ~9% above us.
- our chop indicator, or fuel tank as I like to consider it, is fully charged at 66.6! This is as fully loaded as it gets. If it's let loose to the upside, we are in for a sharp spike, but this is also valid for the downside folks.
- if we fly from here, the chop indicator will be a good one to watch to see when bull power starts to run down, potentially signalling the first pull back in any rally.
- volatility is plumbing lows. Something is about to break! Last time we were at these levels was 20/8/17!
- These moving averages are our best all round indicators for the next bull run. They are not far out of reach and once breached will signal many a trader to pile in. Bots will go bezerk on the buy side as well.
As always guys, leave comments, have fun and trade safe.