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    Technical Analysis

    Technical Analysis February 16, 2021

    By on Technical Analysis
    An overview of the trading activities on the cryptomarkets. Studies on traded volumes, supply and demand situations, as well as periodic technical analysis of the most important crypto-currencies and indices, including the perspective of professional Traders.

    Technical Analysis

    Good Morning!

    Yet another TA-Tuesday with Bitcoin (BTC) just under the $50k mark...

    Bitcoin BTC (4h)

    Charts: Tradingview

    Over the weekend, I published a short post about a potential rising wedge. It was kind of confirmed, but then changed straight away with aggressive buying at around the $46k mark.

    Now, we are back at the top, but seem to be struggling to push through. This makes sense due to the (yet again) very stretched funding and term basis situation in the derivatives.

    The bulls need the help of cash/spot buyers to push us beyond the $50k mark. Everyone in derivatives have done their job, and they look exhausted. With no fresh buying momentum, I expect us to consolidate between $44-$50k (dashed lines).

    Ethereum ETH (4h)

    There is not much inspiration to be seen in this chart. But it is simple.
    Stay long above $1'680.

    Litecoin LTC (4h)

    The month of February showed some momentum for Litecoin. We went from $130 to the top of $230 in just two weeks.

    My best guess is that we will see a short consolidation phase in the $200-220 range and then another leg higher.

    DeFi Perp (4h)

    Here, too, we are in a bullish consolidation phase. A bit of a cooldown is healthy (plus it will help get the gas fees back to more normal levels).

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    About the author

    Patrick Heusser is Head of Trading at Crypto Broker AG. Prior to joining the company, Patrick worked as an Interest Rate Trader at UBS and held various positions in the IRCC (interest rate, commodity and foreign exchange trading) in London, New York, Singapore and Zurich. Patrick is an expert in trading and risk management. He also gained experience in other areas, such as building start-up companies. Patrick has a degree in banking from a business school. He has also taken various courses in technical chart analysis.

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