Where to expect a bullish break: Bitcoin, Ethereum, Bitcoin Cash & Litecoin
|- The crypto market is exposed to price shocks more and more commonly.
- Fundamental indicators are oversold, opening up the tension to the upside.
- Bears have reacted quickly by closing the door on a potential consolidation.
At the time of the American session opening, it seems that the US dawn has brought a new bullish movement among the market's leading cryptocurrencies.
Bitcoin
Bitcoin soars and leaves the intraday high at $7,770. It is therefore very close to crossing up the bearish trend line from the late October highs. The price level that would currently change the outlook to bullish is at $7,850 (Point A).
The signals provided by Intotheblock.com, it can help us to have a better understanding of what may happen in the next few days.
Intotheblock gives us four different signals in its tool and a fifth that groups the previous 4 and unifies the signal message.
The summary indicator indicates that the Bitcoin is mostly bearish, counting two bearish signals (Net Network Growth and Large transactions) and two neutral signals (In The Money and Concentration).
Ethereum
Ethereum is trying to join the party but is finding strong resistance at the $150 price level. It has been able to overcome it for a few moments, but sellers have quickly appeared and have brought it back to the resistance level.
The ETH/USD pair has two important levels to overcome in order to regain energy and be able to move up strongly. The first is at $156.5 (A), while the second and final level prior to entering bullish mode is at $173.5 (B).
According to the signals provided by Intotheblock.com can help us understand better what may happen in the coming days.
Intotheblock gives us four different signals in its tool and a fifth that groups the previous 4 and unifies the message of the signal.
The summary indicator shows even more important low levels than in the case of Bitcoin. There are 3 out of 4 bearish indicators in this case, and only the Ethereum Concentration indicator moves in the neutral zone.
Bitcoin Cash
Bitcoin Cash has surpassed the $220 price level, but sellers have appeared and have taken it below the SMA200 on the 1-hour chart. The BCH/USD chart shows a very flat profile, with sharp jumps both up and down.
With the flash rise we've just seen, the BCH/USD pair has been in the bullish zone for a few moments, but sellers have brought it back to the bearish continuation scenario. A closing above the $226 (A) price level is necessary.
The signals provided by Intotheblock.com can help us understand better what may happen in the coming days.
Intotheblock gives us four different signals in its tool and a fifth that groups the previous 4 and unifies the signal message.
The compiled indicator shows an absolute bearish extreme. The indicators in a bearish position are 4 of 4, and reach an end that could be interpreted as a turn signal for being in an extreme bearish situation.
Litecoin
The Litecoin has momentarily surpassed the $47 level, but the emergence of sales has brought it back below the trend line from the relative highs on the one-hour chart.
The long-term chart tells us that the long term trend line is currently moving at $48, so a change from a bearish scenario like the current one to a bullish one is very likely to occur.
The signals provided by Intotheblock.com can help us understand better what may happen in the coming days.
Intotheblock gives us four different signals in its tool and a fifth that groups the previous 4 and unifies the signal message.
The compiled indicator clearly shows a bearish profile, with 3 of the 4 indicators in the bearish zone and only one, the concentration one, in the neutral zone.
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