The trend is still down in the market despite the pull back last night. Prices fall gently on Ethereum and Bitcoin and the first correction signals are now noticeable, especially on Bitcoin. Is a major correction to be expected?
We will see this together in a moment!
Bitcoin
The trend is still down on Bitcoin despite the pull back yesterday. Our W is still in training but struggles to be realized as the dynamic resistance is strong. In addition, we moving averages give us a major sales signal: We are on a pivot, or the price is starting to rise sharply, or we enter the correction phase for an indefinite period. Our indicators give us a downtrend on the Daily chart, however, on the 4H chart, they give us buying signals. An increase in prices is expected for the next few hours, but it may be to better start to decline thereafter.
The plan :
The trend is very uncertain on Bitcoin and leans in favor of a further decline, so we will position ourselves quite low and do a lot of Day trading to try to take advantage of the pull back:
Buy limit: 12200 usdt (5%)
Buy market: 13650 (5%)
Buy limit: 11500 usdt (5%)
Sell limit: 14100 (50%)
Ethereum
The trend continues downward on Ethereum. We are in the accumulation phase and we have joined our support. The signals are still largely bearish. A downward pattern exit would not be surprising. In addition, an M is in training, if the support does not hold we may be at the beginning of the correction on Ethereum. If this is the case, the capital will take refuge on the BTC, then we will see a rise in the BTC at the expense of the Ethereum but nothing is done yet.
The plan :
The trend is uncertain on Ethereum, the signals are down, we are going to position ourselves lower also:
Buy limit: 1220 (5%)
Buy limit: 1150 (10%)
Sell limit: 1340 (50%)
To conclude on this analysis:
The trend is still very uncertain in the market, overall, the signals are down. Ethereum evolves in the lower part of its range but Bitcoin forms a W in the short term. A reversal of capital would not be surprising. Nevertheless, the signals indicate rather a general decline of the market. Moderate your investments, and if in doubt, place yourself low enough.
Ethereum:
The trend is uncertain on Ethereum, the signals are down, we are going to position ourselves lower also:
Buy limit: 1220 (5%)
Buy limit: 1150 (10%)
Sell limit: 1340 (50%)
Bitcoin:
The trend is very uncertain on Bitcoin and leans in favor of a further decline, so we will position ourselves quite low and do a lot of Day trading to try to take advantage of the pull back:
Buy limit: 12200 usdt (5%)
Buy market: 13650 (5%)
Buy limit: 11500 usdt (5%)
Sell limit: 14100 (50%)
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