It was a rather decent couple of days for the crypto markets, since the pendulum came back after a very bloody start of the week. We saw the coins recover left and right and go through some very juicy scalping models while BTC hovered between $ 6250 and $ 6450. However, it is clear that buyers have started to run out of gasoline and the market seems to have gone through next two days. Let's take a look at what the most knowledgeable people have to say about the current ordeal:
Weslad of TradingView looks bullish in the medium term on BTC, expecting a short-term retracement :
"BTC recorded great success yesterday with a full candle and above the previous maximum Yesterday we identified the cup and managed the training and again with the way in which BTC closed yesterday we have another model in sight that It is REVERSED HEAD and SHOULD. We could see some retracement before the main move will start again. "
Turningmecard of TradingView has some different expectations:
" We could make another lower maximum at 6580 ~ 6630 in the next day or hour, break down difficult or initial support or even lower, and try to make a ride there.Of course, when this goes over 6640+ from now, this idea is invalidated, but BTC tends to visit its supp initial garden, or close to it when it can not do an HH. So, now I think that considering a low-volume weekend, it should make a small peak and fall off the wedge, and from a certain point, start making a flag, or a triangle or something to go up. Anyway, I think BTC would come back, try for 67, 68, because the 67 ~ 68 neckline is a traditional classic resistance that BTC has always challenged before deciding to go down! "
states that the head and shoulders reverse traders such as the Weslad mention do not always work and advise investors to be cautious.Check out its full analysis on the link above to learn about its price targets.
TheChartGuys of TradingView suggest that the $ 6560/6636 resistances must be resolved soon or that the market is headed for some bearish action:
"Currently very patient and waiting for the bulls of BTC demonstrate strength by breaking the double maximum of resistance. We just broke a bullish 4-hour bullish pattern, but we have not been able to see the continuation necessary to enter another leg. Bears still have control as long as we reject EMA resistance every day. The bulls can still today form a minimum of less than 4 hours and keep close to each other. A loss of minimums of more than 4 hours would put the bulls in full control again. The games are for the bears to enter and overcome the fish under the resistance, and the bulls can search for a minimum of 4 hours to enter. "
Today we went to Sherem from TradingView for the daily insight of the ETH:
" Current Conditions:
RSI is confirming the fund.
MACD is almost ready to cross
6 hours:  Broken Trendline
Strong MACD "
After entering positions around $ 270 / $ 300, it suggests that people he should not see too soon as his goals are around $ 500- $ 550 area. "This will give us a similar move of magnitude that we had last April" states, and suggests that arrests should be used around $ 450 to protect positions as there is a resistance formed at those levels.Sherem also identifies a possible reverse head and shoulders if ETH moves sideways from here.Checks the full analysis here.
TotoParasca of TradingView feels like the XRP exploded on the back of some quality FA:
"Ripple is about to explode in the wake of the CEO of the company announces that they will concentrate in China. Just for the record, China has more US smartphone users and analysts expect it to move the US and Europe together by the end of 2020. It might seem useless, but Goldman reports show that 99.73% of all people who trade or have Cryptocurrency are people who use a smartphone every day. We can expect the XRP to be adopted in China and thus expose ourselves to the world's largest market. The next Crypto boom could come from China. "
DrDovetail confirms the breakout and explains why it happened in detail:
" A great sign not only for XRP but the rest of the market as well. Many alts are currently pumping. We can see that XRP has already achieved the expected price target of 0.29% on average and continues to rise. This is probably due to the fact that XRP is going to be traded for USD on Bittrex on the 20th and also because XRapid will be launched by the end of the year. Considering that XRP has already activated the inverted head and shoulders and many other alts are pumping the chances of BTC, even its inverted h & s are much higher now. I am a long time for both. "
For now it seems that XRP has lost some of this momentum and is trying to consolidate before making another move.
The rest of the market seems to slow down as well some monsters are starting to see stronger backtracks directed at the weekend, Populous (10.63%) and VeChain (10.11%) have seen the biggest retracements so far and more coins are expected. of the juice in them and TaTaTu (increased by 75%), Nebulas (33.8%) and Aion (23.37%) are the best examples, so we head towards the weekend with the market still quite green, we'll see how much
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