Month: March 2017

Weekly Range Update

On By CryptoAdvisorIn Short Term Trading
eng
XBTUSD daily chart – VWAP and deviation lines

XBT / USD weekly price range is  900$-1125$ | The range for this week is similar to the previous week. XBTUSD remains in a weak position below the VWAP and below the ALMA moving average.
I think that the support at 900$ is solid; resistance levels at 1125$ and 1235$.

The ALMA average is still bearish and the RSI oscillator has made a double bottom just above the oversold thresold. I see the possibility of a move above the VWAP up to 1100$, at the same time a failure to pass 1010$ would be bearish.

In cases of extreme fall the support area is 650-825 US dollars.
ITA version here.

Weekly Range Update

On By CryptoAdvisorIn Short Term Trading1 Comment
weekly_chart_xbtusd
XBTUSD Daily Chart

XBT / USD weekly price range is 885$-1130$ | The range of this week gives a support area at 880$ and resistsance from 1130$.

In the previous weekly update I said that a close of the weekly bar above 1030$ would have averted the risk of a weekly correction, the market has made a short test above this level and then quickly retreated, so I think that the chances to make a new low are high Determining a candidate level for a bottom isn’t complicated with my long term price regression channel on the weekly chart, this level is 830$ as I showed in my previous long-term update.

The ALMA  average has obviously turned negative and the RSI oscillator is almost into oversold territory.

In cases of extreme fall the support area is 650-825 US dollars.

ITA version here.

Long Term Update: Weekly Price Channel

On By CryptoAdvisorIn Long Term Trading2 Comments
weekly_chart_xbtusd
Weekly Chart – Price Channel

It seems that a correction has started on the weekly chart although the ALMA average is still bullish and not yet 100% confirming the move; sometimes a return to the mean or average is healthy for an uptrend, here the level is around 825$.

First deviation line is 650$ and the second one 530$. I fail to see an event strong enough to increase the volatility level so much to push this pair down to 530$, i remain confident that it’s not going so low and that the 650-825 usd price zone is a good support for long term buyers.

It is needed a close of this weekly bar above 1030$ to avert the risk of a correction of some weeks. The weekly RSI is above its mid-line or 50; in a strong uptrend the RSI usually stays above it as XBTUSD is doing since october 2015.

Weekly Range Update

On By CryptoAdvisorIn Short Term Trading, weekly range update
eng
XBTUSD daily chart

XBT / USD weekly price range 1200$-1425$ | Also this weekly range has been calculated using twice the volatility level commonly used until the situation will stabilize after the great volatility seen during the Sec decision about the etf.

The average ALMA is about to turn upward and the RSI oscillator backed off from overbought territory but not yet gone into oversold.

I think we need a move to new highs around 1400$, it would be a good signal to confirm the uptrend. About the daily bar of 10-11 March i think that this market cleared weak hands, I am tempted to interpret this as a bullish signal.

In cases of extreme fall the support area is updated to 650-790 US dollars.

ITA version here.

Offtopic: Bubble Mode ON

On By CryptoAdvisorIn Uncategorized1 Comment
ethusd
ETHUSD daily chart

After many requests for a possible target i tried to find a solution with a very long term price interpolation channel of this popular altcoin. I did my best to find a decent volatility factor to compute the deviation lines, the attached chart is my best fit.

I think that the next stop is around 35$ (two standard deviation), i’d be very surprised to see this altcoin above it but anything is possible at poloniex, the realm of newbies and whales:)

Aniway the very first resistance has already been broken; I, therefore, think there are chance to reach 35$ at bubble peak.

About Dash, the six sigma deviation line is around 82$, hardly this altcoin will stay above it for a prolonged period of time, eventually a quick spike to 95$-100$ before capitulation. The term “six sigma” comes from the industry and it means that if one product has six standard deviations between the process mean and the nearest specification limit, practically no items produced will fail to meet specifications; at the same time here we are almost certain that at least in the short term the price will remain below it.

Weekly Range Update: waiting the Sec

On By CryptoAdvisorIn Short Term Trading, weekly range update1 Comment
XBTUSD daily chart - VWAP Lines
XBTUSD daily chart – VWAP Lines

XBT / USD weekly price range 1125$- 1300$ | The range for this week is intended valid until the SEC decision of next 11 March whether to approve or not the first bitcoin ETF; this is an event that can create additional volatility that can push this market well beyond the 1300$ resistance or generate a violent correction down to the VWAP, now at ~950$.

The ALMA moving average remains firmly upward; as you can see in the left attached chart in a strong uptrend hardly the minimum of the day is below this reference average I use.

The RSI oscillator is in overbought zone and essentially confirms that the market is strong but still a top could be in the making. There is also a strong resistance in the weekly chart around 1370$-1400$.

In cases of extreme fall the support area is updated to 610-740 USD.

ITA version here at bitchanger.com