Technical Analysis
Good Morning!
I am not really in sync with the market. We did not reach the lows I thought we would after last week’s topside failure. And I totally missed the rotation out of Ethereum (ETH).
Having said this, if you are feeling out of sync, it is important to take a step back and take a fresh look at the charts.
Bitcoin BTC (4h)
I am watching three points:
- Price above the Ichimoku cloud
- Ichimoku cloud is green
- Above 41'000, the lower high wave structure will be broken (bullish)
It feels like range trading has transformed somewhat into a potential bottom building. The range is wide: roughly 31'000 – 42'000 USD.
For me, the more neutral zone is the 44'000 – 50'000 USD range, which would indicate to me that the potential threat of a shoulder-head-shoulder formation is diminishing.
Ethereum ETH (4h)
This is somewhat uninspirational… there is a wide range of 2'200 – 2'900 USD.
On the daily chart, things looks a bit more promising: that we are consolidating after a blow-off top. The first target is pushing above the baseline and keeping the price above the Ichimoku cloud.
Ethereum/Bitcoin ETHBTC (4h)
I scrapped the irregular ABC correction and started with a clean chart. It speaks for itself.
Copyright © 2021 | Crypto Broker AG | All rights reserved.
All intellectual property, proprietary and other rights and interests in this publication and the subject matter hereof are owned by Crypto Broker AG including, without limitation, all registered design, copyright, trademark and service mark rights.
Disclaimer
This publication provided by Crypto Broker AG, a corporate entity registered under Swiss law, is published for information purposes only. This publication shall not constitute any investment advice respectively does not constitute an offer, solicitation or recommendation to acquire or dispose of any investment or to engage in any other transaction. This publication is not intended for solicitation purposes but only for use as general information. All descriptions, examples and calculations contained in this publication are for illustrative purposes only. While reasonable care has been taken in the preparation of this publication to provide details that are accurate and not misleading at the time of publication, Crypto Broker AG (a) does not make any representations or warranties regarding the information contained herein, whether express or implied, including without limitation any implied warranty of merchantability or fitness for a particular purpose or any warranty with respect to the accuracy, correctness, quality, completeness or timeliness of such information, and (b) shall not be responsible or liable for any third party’s use of any information contained herein under any circumstances, including, without limitation, in connection with actual trading or otherwise or for any errors or omissions contained in this publication.
Risk disclosure
Investments in virtual currencies are high-risk investments with the risk of total loss of the investment and you should not invest in virtual currencies unless you understand and can bear the risks involved with such investments. No information provided in this publication shall constitute investment advice. Crypto Broker AG excludes its liability for any losses arising from the use of, or reliance on, information provided in this publication.
