- The underlying strength is bullish, superficial, bearish.
- Dogfight in XRP / USD to control the momentum.
- ETH / USD hoping to resume the command soon.
One of the most commented phrases in any trader's forum is how boring professional trading is. Moreover, it must be so, since the main enemy of a trader is the influence of emotions in making decisions, both positive and negative. Maintaining the ability to make a decision and a logical execution means staying away from emotions.
Well, this market must be the most professional on the planet!
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "A new day is emerging in Europe at the same time price like the last few weeks. In these days we have seen attempts at the top, attempts at the bottom, but the price is still here. indicators squeeze into useless ornaments that inform us only that there is nothing to report. "data-reactid =" 17 "> In Europe, in the same price range of the last few weeks, a new day is rising in recent days we have seen attempts at the top, attempts at the bottom, but the price is still here: the indicators are compressed into useless ornaments that inform us only that there is nothing to report.
So this is the news, the market is once again in a phase of price compression, and if we look at the obvious, the lack of visibility is overwhelming. That's why in these situations, a trader tends to look for a resource with high correlation and this trend that acts as a compass.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "ETH / BTC daily chart"data-reactid =" 19 ">ETH / BTC daily chart
In my case, the ETH / BTC couple plays this role. This pair continues to maintain a trend structure and remains on the bullish side of the image. As long as I do not see a break down in the trend line, the market, in my opinion, continues to look at the price scale.
eth_btc_14-636834023943271069.png
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "BTC / USD 240 minute chart"data-reactid =" 41 ">Chart BTC / USD 240 minutes
The BTC / USD pair is currently trading at the price level of $ 3,627, moving from two key levels to the 50-period exponential moving average.
The SMA200 is inclined towards the top, and its influence is already starting to be seen in the other moving averages, which will inevitably end up following the upside. Above the current price, the first resistance level was $ 3,658 (EMA50), boosted by some rising dollars to $ 3,690 for resistance to price congestion. The second resistance level is at $ 3,760, where the simple averages of 100 and 200 periods converge. As if that were not enough, at $ 3,800 there is another resistance to price congestion. The third resistance zone is at $ 3,900 (resistance to price congestion).
Below the current price, the first level of support is $ 3,600 (support for price congestion). Below this level, the second level of support is $ 3,460 (support for price congestion). Below this price level, the BTC / USD pair would go into freefall mode with targets at $ 3,300 (price congestion support) and $ 3,240 (price congestion support).
btc_usd_61-636834025003796394.png
The MADC in the 4-hour range recovers some of the bullish profile in the last hours. It also achieves a minimal separation between the lines, although given the proximity to level 0 of the scale of this indicator seems too little to overcome this level with ease.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The DMI in the 4-hour range continues to show tied bears with the bulls, without any side of the market showing any sign of strength.
ETH / USD 240 Minute Chart"data-reactid =" 70 "> The DMI in the 4-hour range continues to show bear-related bears, without any part of the market showing any sign of strength.
ETH / USD 240 Minute Chart
The ETH / USD trades at the price level of $ 122.83. Yesterday late in the European session there was an attempt to break the first resistance to the price level of $ 124 (resistance to price congestion). The second resistance level is at $ 127 (EMA50), and the third resistance level is at $ 130 (SMA200 and resistance to price congestion).
Below the current price, the first level of support is $ 115 (support for price congestion). The second level of support is at $ 109 (support for price congestion). The third level of support is at $ 105 (support for price congestion).
The MACD in the 4-hour range shows a slight upward slope but with almost no opening between the two averages that make up this indicator. It does not seem to be the most favorable setting for a cross on the bullish side of the caliber.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The DMI in the 4-hour interval is different from that seen in Bitcoin ETH / USD couple, the bulls have retired in the last days, even if the bears have not increased their activity. "data-reactid =" 74 "> The DMI in the 4-hour range is different from the one seen in the Bitcoin pair of the ETH / USD pair, the bulls have retired in the last days, although the bears have not increased their activity.
1eth_usd_48-636834025636330241.png
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XRP / USD 240 minute chart"data-reactid =" 95 ">
XRP / USD 240 Minute Chart
The XRP / USD is trading at $ 0.328, following a declining peaks in the last few days. The exponential moving average of 50 periods in the mobile resistance role is the main cause of this structure.
Above the current price, the first resistance level is $ 0.335 (EMA50 and resistance to price congestion). The second resistance level is at $ 0.345 (resistance to price congestion). Beyond this technical obstacle, there is a confluence zone where SMA100 at $ 0.349, SMA200 at $ 0.356 and price congestion resistance at $ 0.368 unite their influence.
Below the current price, the first level of support is $ 0.32 (support for price congestion). The second level of support is $ 0.308 (support for price congestion), while the third support level is already in the freefall zone, ie $ 0.282 (price congestion support).
xrp_usd_50-636834026340886970.png
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The MACD in the 4-hour interval shows a very flat profile with almost no distance between the averages that make up this indicator Bitcoin is Ethereum, the MACD profile of the XRP is the one that seems less prepared for an intersection in the bullish zone. "data-reactid =" 119 "> The MACD in the 4-hour range shows a very flat profile with almost no distance between the averages that make up this indicator Compared to Bitcoin and Ethereum, the MACD profile of the XRP is what it seems less prepared for a cross to the bullish zone.
The DMI within 4 hours does not show indecision like the other two members of the Top 3 club. The XRP / USD is struggling to control the momentum. Over the past six days, up to 4 leadership changes have been made.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "See more from Benzinga"data-reactid =" 121 ">See more from Benzinga
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