Bitcoin and alts - BULLISH signs appearing!

in bitcoin •  7 years ago 

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Bitcoin - monthly chart

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TradingView link

Bullish long term, but my inner bear is still winning :(
Being a strong advocate of zooming out, I have forgotten to do just that recently, getting swept up in the recent bullish price action on Bitcoin and the majority of altcoins. The weekly charts look great, I agree with that, but zooming out even further and we can see that the monthly chart doesn't look as good - the RSI is still pointing down and so too is the Stoch RSI. I'm using the Heikin Ashi candle pattern in this chart as it shows trend a lot easier (less noise) than the more traditional Candles everyone is use to seeing/using. As you can see, there is still no signs of a green candle on the monthly, and until we see one, i'm not sure this downtrend is broken. Sub 6k could still happen this year before we set off onward and upwards again. (i hope i'm proven wrong!)
Click the TradingView link above for more detailed chart view / description

EOS

The weekly charts all look really good, the RSI and Stoch RSI are all turning up from the bottom of the over sold, and there has been a run in price over the last couple of weeks. Some altcoins have seen over 100% increase in price, with EOS in particular (just yesterday) almost pushing past its all time high (ATH).

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TradingView

Odyssey (OCN)

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Coinigy link

Look at the volume pick up on this coin over the last week! Almost up 100% and shows no signs of stopping. That could have something to do with the recent (on Twitter earlier today) talk of a 1:1 airdrop for all OCN holders, plus, this coin could end up on Binance any day now... The FOMO is real on OCN, will be an interesting one to keep an eye on. (note, have to chart this coin on Coinigy as TradingView do not cover the Kucoin exchange).

Your thoughts?

So, what are you looking at right now, any low caps got your attention? Some of the lesser known exchanges are the places to seek these out, as there is less trading volume and you can get in at a good entry. When a coin then hits a bigger exchange, you can really make some good profits. As ever, you really need to do your own research before entering any trades, as the low cap coins are much higher risk than others.

Thank you, please comment and upvote upvote.png

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SmilingLlama does not provide investment advice, and nothing in his guides or any articles or communications from SmilingLlama should be taken as such, everything is for entertainment purposes. SmilingLlama recommends you seek financial advise from a certified financial advisor before making any investment decisions

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