#BTCUSDT Bitcoin is sideways right now and is moving in a very tight and narrow range. All the action has been happening between $117,000 and $120,000 based on candle close since 11-July. This is bullish, think about it.
Bitcoin hits a new all-time high and next thing you know it turns sideways very close to resistance. The only drop was short-lived and everything sold was quickly bought. Why is Bitcoin consolidating so close to resistance? It is preparing to move ahead.
Bitcoin hits a new all-time high and next thing you know it turns sideways very close to resistance. The only drop was short-lived and everything sold was quickly bought. Why is Bitcoin consolidating so close to resistance? It is preparing to move ahead.
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#OPUSDT OP token broke the bearish wedge pattern on the weekly timeframe and showed a bullish divergence on the RSI, signaling the start of a new bullish wave.
If the move continues, the price could first reach $1,975 and then $2,775.
If the move continues, the price could first reach $1,975 and then $2,775.
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#ETHUSDT Ethereum has maintained a bullish structure on the monthly chart and the rally below key resistance continues.
Given the formation of a bearish widening wedge and the accumulation phase, the target for this cycle could be in the $7,000-$8,000 range.
Given the formation of a bearish widening wedge and the accumulation phase, the target for this cycle could be in the $7,000-$8,000 range.
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Here #ETHUSDT is trading within higher lows. This is interesting because Bitcoin produced a lower low recently. The same volume signal is present here, has been producing lower bearish volume since last month.
The RSI produced a lower low while produced a higher low. This is called a hidden bullish divergence. Ethereum's bears did not only fail to take out the last low 24-July but also the previous one, and this clearly reveals bullish support.
The RSI being oversold is also a positive condition and can signal a reversal happening soon. Not truly a reversal because we are not in a downtrend, we are still witnessing a small pause after a strong rise; consolidation near resistance. A continuation reads better.
Ethereum's price continues really strong and the short-term signals are pointing to bullish action being favored in the coming days. We can wait easily and patiently because the best is yet to come.
The RSI produced a lower low while produced a higher low. This is called a hidden bullish divergence. Ethereum's bears did not only fail to take out the last low 24-July but also the previous one, and this clearly reveals bullish support.
The RSI being oversold is also a positive condition and can signal a reversal happening soon. Not truly a reversal because we are not in a downtrend, we are still witnessing a small pause after a strong rise; consolidation near resistance. A continuation reads better.
Ethereum's price continues really strong and the short-term signals are pointing to bullish action being favored in the coming days. We can wait easily and patiently because the best is yet to come.
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