Not a bloody Sunday but rather a bloody Monday...
Bitcoin BTC$ (4h)
We are back below the 10.5k level after we touched the 11.2k resistance. A pretty disappointing development for the bulls. We did not manage to turn the Ichimoku cloud bullish and were not able to hold the price above the upper band.
Now, we are back below the bearish cloud and below 10.5k. I am closely watching the daily chart as well and if I see any signs of more weakness I flip from bullish to neutral. On a short term basis I am even looking at going short with a stop just above the 10.5k.
Ethereum ETH$ (4h)
Very similar picture to BTC$. We quickly went up to our target level at $390 but could not hold it. After we broke lower even lower than our last range $360-380 it started to turn really ugly.
Around $330 the 61.8% Fibonacci retracement level comes in which has worked as support before. I am on the sidelines in ETH$ at the moment. If we break below $330 on a daily closing basis I see $290 being the next level where we consolidate.
Ethereum/Bitcoin ETHBTC (4h)
I am bearish below 0.03300. Thats it... thats the call.
Technical Analysis DeFi Coins
ATOM$ (4h) - Cosmos
$4.50 gave way and we traded down to the next bigger liquidity pool at around $4.
I am bearish as long we stay below $4.50.
DOT$ (4h) - Polkadot
One of the few coins which still looks ok to be or go long. $3.70 is your invalidation level for any long position.
BAND$ (4h) - Band Protocol
The bearish tone goes on. $4 the large support level. No bullish signs right now.
LINK$ (4h) - Chainlink
Same as BAND$... the bearish tone goes on as well. $7 is the major support.
LEND$ (4h) - Aave
This coin got me on the wrong foot. A nice rally above the $0.75 level but down as quick as we came up.
This should have been my first warning signal. The second one was when we continuously penetrated the Ichimoku cloud.
The liquidity pool at around $0.55 did not hold for long and we moved back down to the lows we have seen in early September. $0.45 needs to hold, otherwise it will turn ugly and we are back down to $0.30.
YFI$ (4h) - yearn.finance
To be honest I did not think we will revisit the 22k level. But here we are...
I'll watch this level as a warning sign to re-asses my long position. The good thing is there are now futures I could use to hedge my longs. They are more liquid than the physical spot pair.