03 APRIL 2019 | Darcy K. Butcher, Journalist | Pacific Rim International
BITCOIN QUICK CHECK
Bitcoin has hit 21 EMA, a major resistance. Lower time frames looking for pull back on lower time frames to $4600 range. High time frames lacks overall confirmation, volume, verification for a shift to Bull Market. This is a neutral to no trade zone for many. That being said expect accumulation to continue. Many are advocating a Bull Market now, maybe, but most likely this is not so. Managing risk in this current range is more intense.
OVERALL RANGE
- $4350 - $5500
BULLISH
Resistance top range on daily is $5050. Clear $5200 would be BULLISH. Break from here is to $5500 area.
BEARISH
BTC showing some hesitation. A close yesterday $4700 would have signaled closer to consolidation and move to test $4550 on some exchanges. Low Bearish supports is ranging $3450 - 4100 and be expected with a pull back within a week and with confirmed lack of volume.
QUICK LOOK
- RSI levels are all jacked up
- Yesterday close was above $4900
- Healthy pull back would be indicated
- Some short term indicators exhausting
- RSI is highest as it has been since December
- NVT is signaling red
- Major highs and bull traps have been taking a month to break
- Market sentiment is extremely BULLISH
Major Resistances:
- Daily .377
- Weekly 50 EMA
- Monthly 21 EMA
3-DAY STOCH
- This is new, the 3-Day Stoch poked above trend line.
RSI
- Weekly RSI breaking trend line which is powerful for the BULLS. Similar signatures from 2014 market are on display and noted.
GRAYSCALE
- The GVC closed 574 points towards a slow grind top of $5100 - $5220 zone on this structure.
- NOTABLE: GVC has not been leading on this move (it has led for over a year).
CME
- Has not had time to populated fully
- $4985 resistance
- $4600 support for a pull back in next few days
#BTC PATTERN
Bitcoin is in a very similar to 2014-2015, with two tests of the 200 MA (weekly), a pump to 50 MA (weekly) and then back down to 200 MA (weekly) then bull market began.
LITCOIN
#LTC #LITECOIN broke out with major volume.
- A pull back would be to $73 range (check your exchange for specific target)
- GOLDEN CROSS on the daily in play and take dominance
- Took out MAJOR resistance
- BULLISH upside to $90
- Weekly Stoch are up
- Weekly RSI significant Bull ranges
- Has turned market cycles sooner than BTC
- Market leader
ETHEREUM
- Test of 200 EMA
- Lower time frames, defend $168, for possible tick up
- May retest $163 range
- Needs to defend $153.50 for constructive posturing
- Decreasing volume, ascending triangle forming
- End of day confirmation needed
- Lack luster compared to BTC and LTC
Tip Wallet - Contribute to Darcy's work here:
BTC: 17ensjJ2gaKfNfaZhzU7cEtJmV1Govtqq
LTC: LPKiZK65DFCoVQu7RAAizK1cCj4C9qcAHg
ETH: 0x2a19200dec8b815035960ad703e03a3f7796bbfd
BAT: 0x2a19200dec8b815035960ad703e03a3f7796bbfd
Darcy K. Butcher, MA. BA Print & Photo Journalism
Writer, Print and Photo Journalist, Blockchain Educator
I am interested in cryptocurrency as a social, cultural, financial point of view.
For educational purposes only. This is not financial advice. DYOR
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